Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 31, 2020 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 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 | 735,958,560 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
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 | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||
Operating Revenues | |||||
Regulated electric | $ 6,315 | $ 6,515 | $ 16,402 | $ 17,223 | |
Regulated natural gas | 214 | 223 | 1,115 | 1,231 | |
Nonregulated electric and other | 192 | 202 | 574 | 522 | |
Total operating revenues | 6,721 | 6,940 | 18,091 | 18,976 | |
Operating Expenses | |||||
Operation, maintenance and other | 1,450 | 1,484 | 4,142 | 4,337 | |
Depreciation and amortization | 1,217 | 1,186 | 3,497 | 3,364 | |
Property and other taxes | 324 | 335 | 1,003 | 1,012 | |
Impairment charges | 28 | (20) | 36 | (16) | |
Total operating expenses | 4,909 | 5,011 | 13,622 | 14,376 | |
Gains on Sales of Other Assets and Other, net | 2 | 10 | |||
Operating Income | 1,814 | 1,929 | 4,479 | 4,600 | |
Other Income and Expenses | |||||
Equity in (losses) earnings of unconsolidated affiliates | (80) | 50 | (2,004) | 137 | |
Other income and expenses, net | 127 | 104 | 310 | 308 | |
Total other income and expenses | 47 | 154 | (1,694) | 445 | |
Interest Expense | 522 | 572 | 1,627 | 1,657 | |
Income Before Income Taxes | 1,339 | 1,511 | 1,158 | 3,388 | |
Income Tax Expense (Benefit) | 105 | 188 | (74) | 424 | |
Net Income | 1,234 | 1,323 | 1,232 | 2,964 | |
Less: Net Income Attributable to Noncontrolling Interests | (70) | (19) | (208) | (110) | |
Net income (attributable to parent) | 1,304 | 1,342 | 1,440 | 3,074 | |
Less: Preferred Dividends | 39 | 15 | 93 | 27 | |
Net Income Available to Duke Energy Corporation Common Stockholders | 1,265 | 1,327 | 1,347 | 3,047 | |
Other Comprehensive Income (Loss), net of tax | |||||
Pension and OPEB adjustments | [1] | 1 | (2) | 1 | 1 |
Net unrealized (losses) gains on cash flow hedges | [1] | (83) | (16) | (159) | (62) |
Unrealized gains on available-for-sale securities | [1] | (2) | 2 | 5 | 10 |
Other Comprehensive Loss, net of tax | [1] | (80) | (15) | (145) | (47) |
Comprehensive Income | 1,154 | 1,308 | 1,087 | 2,917 | |
Less: Comprehensive Income Attributable to Noncontrolling Interests | (70) | (19) | (220) | (110) | |
Comprehensive Income Attributable to Duke Energy | $ 1,224 | $ 1,327 | $ 1,307 | $ 3,027 | |
Net income attributable to Duke Energy Corporation common stockholders | |||||
Basic and Diluted (in usd per share) | $ 1.74 | $ 1.82 | $ 1.85 | $ 4.18 | |
Weighted Average Shares Outstanding | |||||
Basic and Diluted (in shares) | 735 | 729 | 735 | 728 | |
Duke Energy Carolinas | |||||
Operating Revenues | |||||
Total operating revenues | $ 2,058 | $ 2,162 | $ 5,416 | $ 5,619 | |
Operating Expenses | |||||
Fuel used in electric generation and purchased power/Cost of natural gas | 497 | 504 | 1,326 | 1,371 | |
Operation, maintenance and other | 402 | 443 | 1,218 | 1,324 | |
Depreciation and amortization | 372 | 350 | 1,090 | 1,013 | |
Property and other taxes | 57 | 66 | 213 | 221 | |
Impairment charges | 20 | 6 | 22 | 11 | |
Total operating expenses | 1,348 | 1,369 | 3,869 | 3,940 | |
Gains on Sales of Other Assets and Other, net | 1 | 1 | |||
Operating Income | 711 | 793 | 1,548 | 1,679 | |
Other Income and Expenses | |||||
Total other income and expenses | 42 | 34 | 128 | 106 | |
Interest Expense | 122 | 119 | 370 | 346 | |
Income Before Income Taxes | 631 | 708 | 1,306 | 1,439 | |
Income Tax Expense (Benefit) | 76 | 118 | 178 | 255 | |
Net income (attributable to parent) | 555 | 590 | 1,128 | 1,184 | |
Other Comprehensive Income (Loss), net of tax | |||||
Comprehensive Income Attributable to Duke Energy | 555 | 590 | 1,128 | 1,184 | |
Progress Energy | |||||
Operating Revenues | |||||
Total operating revenues | 3,197 | 3,242 | 8,117 | 8,558 | |
Operating Expenses | |||||
Fuel used in electric generation and purchased power/Cost of natural gas | 1,088 | 1,187 | 2,628 | 3,100 | |
Operation, maintenance and other | 646 | 640 | 1,789 | 1,813 | |
Depreciation and amortization | 472 | 496 | 1,356 | 1,377 | |
Property and other taxes | 147 | 159 | 419 | 439 | |
Impairment charges | 1 | (25) | 1 | (25) | |
Total operating expenses | 2,354 | 2,457 | 6,193 | 6,704 | |
Gains on Sales of Other Assets and Other, net | 3 | 1 | 9 | ||
Operating Income | 846 | 786 | 1,933 | 1,854 | |
Other Income and Expenses | |||||
Total other income and expenses | 24 | 41 | 89 | 106 | |
Interest Expense | 194 | 212 | 599 | 650 | |
Income Before Income Taxes | 676 | 615 | 1,423 | 1,310 | |
Income Tax Expense (Benefit) | 70 | 94 | 190 | 212 | |
Net Income | 606 | 521 | 1,233 | 1,098 | |
Less: Net Income Attributable to Noncontrolling Interests | 1 | 0 | 1 | 0 | |
Net income (attributable to parent) | 605 | 521 | 1,232 | 1,098 | |
Other Comprehensive Income (Loss), net of tax | |||||
Pension and OPEB adjustments | 1 | 2 | |||
Net unrealized (losses) gains on cash flow hedges | 1 | 1 | 3 | 4 | |
Unrealized gains on available-for-sale securities | 1 | 1 | 1 | 2 | |
Other Comprehensive Loss, net of tax | 2 | 2 | 5 | 8 | |
Comprehensive Income | 608 | 523 | 1,238 | 1,106 | |
Less: Comprehensive Income Attributable to Noncontrolling Interests | 1 | 1 | 0 | ||
Comprehensive Income Attributable to Duke Energy | 607 | 523 | 1,237 | 1,106 | |
Duke Energy Progress | |||||
Operating Revenues | |||||
Total operating revenues | 1,626 | 1,688 | 4,207 | 4,559 | |
Operating Expenses | |||||
Fuel used in electric generation and purchased power/Cost of natural gas | 537 | 577 | 1,337 | 1,571 | |
Operation, maintenance and other | 348 | 378 | 970 | 1,070 | |
Depreciation and amortization | 289 | 314 | 833 | 855 | |
Property and other taxes | 38 | 46 | 129 | 131 | |
Impairment charges | 5 | 5 | |||
Total operating expenses | 1,217 | 1,315 | 3,274 | 3,627 | |
Gains on Sales of Other Assets and Other, net | 3 | 8 | |||
Operating Income | 412 | 373 | 941 | 932 | |
Other Income and Expenses | |||||
Total other income and expenses | 11 | 27 | 52 | 75 | |
Interest Expense | 66 | 74 | 203 | 232 | |
Income Before Income Taxes | 357 | 326 | 790 | 775 | |
Income Tax Expense (Benefit) | 11 | 48 | 79 | 125 | |
Net income (attributable to parent) | 346 | 278 | 711 | 650 | |
Other Comprehensive Income (Loss), net of tax | |||||
Comprehensive Income Attributable to Duke Energy | 346 | 278 | 711 | 650 | |
Duke Energy Florida | |||||
Operating Revenues | |||||
Total operating revenues | 1,567 | 1,548 | 3,897 | 3,987 | |
Operating Expenses | |||||
Fuel used in electric generation and purchased power/Cost of natural gas | 551 | 610 | 1,291 | 1,529 | |
Operation, maintenance and other | 292 | 256 | 806 | 730 | |
Depreciation and amortization | 183 | 182 | 523 | 522 | |
Property and other taxes | 110 | 113 | 290 | 309 | |
Impairment charges | (4) | (25) | (4) | (25) | |
Total operating expenses | 1,132 | 1,136 | 2,906 | 3,065 | |
Gains on Sales of Other Assets and Other, net | 1 | ||||
Operating Income | 435 | 413 | 991 | 922 | |
Other Income and Expenses | |||||
Total other income and expenses | 11 | 14 | 36 | 39 | |
Interest Expense | 81 | 81 | 245 | 246 | |
Income Before Income Taxes | 365 | 346 | 782 | 715 | |
Income Tax Expense (Benefit) | 78 | 57 | 159 | 129 | |
Net income (attributable to parent) | 287 | 289 | 623 | 586 | |
Other Comprehensive Income (Loss), net of tax | |||||
Unrealized gains on available-for-sale securities | 1 | 1 | 1 | 2 | |
Other Comprehensive Loss, net of tax | 1 | 1 | 1 | 2 | |
Comprehensive Income Attributable to Duke Energy | 288 | 290 | 624 | 588 | |
Duke Energy Ohio | |||||
Operating Revenues | |||||
Regulated electric | 394 | 408 | 1,070 | 1,099 | |
Regulated natural gas | 79 | 81 | 324 | 354 | |
Total operating revenues | 473 | 489 | 1,394 | 1,453 | |
Operating Expenses | |||||
Operation, maintenance and other | 115 | 123 | 333 | 378 | |
Depreciation and amortization | 72 | 69 | 208 | 199 | |
Property and other taxes | 83 | 71 | 244 | 229 | |
Total operating expenses | 367 | 381 | 1,089 | 1,167 | |
Operating Income | 106 | 108 | 305 | 286 | |
Other Income and Expenses | |||||
Total other income and expenses | 4 | 4 | 11 | 19 | |
Interest Expense | 26 | 27 | 75 | 81 | |
Income Before Income Taxes | 84 | 85 | 241 | 224 | |
Income Tax Expense (Benefit) | 14 | 11 | 40 | 34 | |
Net income (attributable to parent) | 70 | 74 | 201 | 190 | |
Other Comprehensive Income (Loss), net of tax | |||||
Comprehensive Income Attributable to Duke Energy | 70 | 74 | 201 | 190 | |
Duke Energy Indiana | |||||
Operating Revenues | |||||
Total operating revenues | 761 | 807 | 2,070 | 2,289 | |
Operating Expenses | |||||
Fuel used in electric generation and purchased power/Cost of natural gas | 222 | 234 | 577 | 720 | |
Operation, maintenance and other | 207 | 192 | 564 | 569 | |
Depreciation and amortization | 149 | 130 | 415 | 393 | |
Property and other taxes | 15 | 16 | 57 | 55 | |
Total operating expenses | 593 | 572 | 1,613 | 1,737 | |
Operating Income | 168 | 235 | 457 | 552 | |
Other Income and Expenses | |||||
Total other income and expenses | 9 | 8 | 28 | 35 | |
Interest Expense | 29 | 40 | 114 | 111 | |
Income Before Income Taxes | 148 | 203 | 371 | 476 | |
Income Tax Expense (Benefit) | 29 | 47 | 72 | 113 | |
Net income (attributable to parent) | 119 | 156 | 299 | 363 | |
Other Comprehensive Income (Loss), net of tax | |||||
Comprehensive Income Attributable to Duke Energy | 119 | 156 | 299 | 363 | |
Piedmont Natural Gas | |||||
Operating Revenues | |||||
Total operating revenues | 162 | 168 | 871 | 956 | |
Operating Expenses | |||||
Fuel used in electric generation and purchased power/Cost of natural gas | 39 | 46 | 254 | 384 | |
Operation, maintenance and other | 75 | 78 | 234 | 241 | |
Depreciation and amortization | 45 | 43 | 133 | 127 | |
Property and other taxes | 13 | 14 | 37 | 39 | |
Impairment charges | 7 | 7 | |||
Total operating expenses | 179 | 181 | 665 | 791 | |
Operating Income | (17) | (13) | 206 | 165 | |
Other Income and Expenses | |||||
Equity in (losses) earnings of unconsolidated affiliates | 7 | 6 | |||
Total other income and expenses | 16 | 7 | 44 | 19 | |
Interest Expense | 29 | 22 | 89 | 65 | |
Income Before Income Taxes | (30) | (28) | 161 | 119 | |
Income Tax Expense (Benefit) | (5) | (10) | 6 | 22 | |
Net income (attributable to parent) | (25) | (18) | 155 | 97 | |
Other Comprehensive Income (Loss), net of tax | |||||
Comprehensive Income Attributable to Duke Energy | (25) | (18) | 155 | 97 | |
Fuel used in electric generation and purchased power | |||||
Operating Expenses | |||||
Fuel used in electric generation and purchased power/Cost of natural gas | 1,849 | 1,978 | 4,645 | 5,228 | |
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 | 94 | 114 | 258 | 293 | |
Cost of natural gas | |||||
Operating Expenses | |||||
Fuel used in electric generation and purchased power/Cost of natural gas | 41 | 48 | 299 | 451 | |
Cost of natural gas | Duke Energy Ohio | |||||
Operating Expenses | |||||
Fuel used in electric generation and purchased power/Cost of natural gas | $ 3 | $ 4 | $ 46 | $ 68 | |
[1] | Net of income tax impacts of approximately $24 million for the three months ended September 30, 2020 , and $43 million and $14 million for the nine months ended September 30, 2020 , and 2019 , respectively. All other periods presented include immaterial income tax impacts. |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | |||||
Net income | $ 1,234 | $ 1,323 | $ 1,232 | $ 2,964 | |
Other Comprehensive Loss, net of tax | |||||
Pension and OPEB adjustments | [1] | 1 | (2) | 1 | 1 |
Net unrealized losses on cash flow hedges | [1] | (83) | (16) | (159) | (62) |
Reclassification into earnings from cash flow hedges | [1] | 4 | 1 | 8 | 4 |
Unrealized (losses) gains on available-for-sale securities | [1] | (2) | 2 | 5 | 10 |
Other Comprehensive Loss, net of tax | [1] | (80) | (15) | (145) | (47) |
Comprehensive Income | 1,154 | 1,308 | 1,087 | 2,917 | |
Add: Comprehensive Loss Attributable to Noncontrolling Interests | 70 | 19 | 220 | 110 | |
Comprehensive Income Attributable to Duke Energy | 1,224 | 1,327 | 1,307 | 3,027 | |
Less: Preferred Dividends | 39 | 15 | 93 | 27 | |
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | $ 1,185 | $ 1,312 | $ 1,214 | $ 3,000 | |
[1] | Net of income tax impacts of approximately $24 million for the three months ended September 30, 2020 , and $43 million and $14 million for the nine months ended September 30, 2020 , and 2019 , respectively. All other periods presented include immaterial income tax impacts. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Other comprehensive income (loss), tax | $ 24 | $ 43 | $ 14 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 308 | $ 311 |
Receivables (net of allowance for doubtful accounts) | 719 | 1,066 |
Receivables of VIEs (net of allowance for doubtful accounts) | 2,320 | 1,994 |
Inventory | 3,190 | 3,232 |
Regulatory assets (includes amounts related to VIEs) | 1,637 | 1,796 |
Other (includes amounts related to VIEs) | 505 | 764 |
Total current assets | 8,679 | 9,163 |
Property, Plant and Equipment | ||
Cost | 153,916 | 147,654 |
Accumulated depreciation and amortization | (48,185) | (45,773) |
Generation facilities to be retired, net | 29 | 246 |
Net property, plant and equipment | 105,760 | 102,127 |
Other Noncurrent Assets | ||
Goodwill | 19,303 | 19,303 |
Regulatory assets (includes amounts related to VIEs) | 13,264 | 13,222 |
Nuclear decommissioning trust funds | 8,363 | 8,140 |
Operating lease right-of-use assets, net | 1,577 | 1,658 |
Investments in equity method unconsolidated affiliates | 924 | 1,936 |
Other (includes amounts related to VIEs) | 3,539 | 3,289 |
Total other noncurrent assets | 46,970 | 47,548 |
Total Assets | 161,409 | 158,838 |
Current Liabilities | ||
Accounts payable | 2,486 | 3,487 |
Notes payable and commercial paper | 3,425 | 3,135 |
Taxes accrued | 768 | 392 |
Interest accrued | 556 | 565 |
Current maturities of long-term debt (includes amounts related to VIEs) | 4,669 | 3,141 |
Asset retirement obligations | 742 | 881 |
Regulatory liabilities | 1,218 | 784 |
Other | 2,829 | 2,367 |
Total current liabilities | 16,693 | 14,752 |
Long-Term Debt (includes amounts related to VIEs) | 56,049 | 54,985 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 9,170 | 8,878 |
Asset retirement obligations | 12,912 | 12,437 |
Regulatory liabilities | 14,546 | 15,264 |
Operating lease liabilities | 1,379 | 1,432 |
Accrued pension and other post-retirement benefit costs | 903 | 934 |
Investment tax credits | 689 | 624 |
Other (includes amounts related to VIEs) | 1,773 | 1,581 |
Total other noncurrent liabilities | 41,372 | 41,150 |
Commitments and Contingencies | ||
Equity | ||
Common stock | 1 | 1 |
Additional paid-in capital | 41,046 | 40,881 |
Retained earnings | 3,260 | 4,108 |
Accumulated other comprehensive loss | (263) | (130) |
Total Duke Energy Corporation stockholders' equity | 46,006 | 46,822 |
Noncontrolling interests | 1,289 | 1,129 |
Total equity | 47,295 | 47,951 |
Total Liabilities and Equity | 161,409 | 158,838 |
Duke Energy Carolinas | ||
Current Assets | ||
Cash and cash equivalents | 23 | 18 |
Receivables (net of allowance for doubtful accounts) | 177 | 324 |
Receivables of VIEs (net of allowance for doubtful accounts) | 770 | 642 |
Receivables from affiliated companies | 64 | 114 |
Notes receivable from affiliated companies | 65 | |
Inventory | 992 | 996 |
Regulatory assets (includes amounts related to VIEs) | 495 | 550 |
Other (includes amounts related to VIEs) | 44 | 21 |
Total current assets | 2,630 | 2,665 |
Property, Plant and Equipment | ||
Cost | 50,622 | 48,922 |
Accumulated depreciation and amortization | (17,406) | (16,525) |
Net property, plant and equipment | 33,216 | 32,397 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 3,400 | 3,360 |
Nuclear decommissioning trust funds | 4,506 | 4,359 |
Operating lease right-of-use assets, net | 117 | 123 |
Other (includes amounts related to VIEs) | 1,179 | 1,149 |
Total other noncurrent assets | 9,202 | 8,991 |
Total Assets | 45,048 | 44,053 |
Current Liabilities | ||
Accounts payable | 583 | 954 |
Accounts payable to affiliated companies | 155 | 210 |
Notes payable to affiliated companies | 29 | |
Taxes accrued | 398 | 46 |
Interest accrued | 130 | 115 |
Current maturities of long-term debt (includes amounts related to VIEs) | 751 | 458 |
Asset retirement obligations | 267 | 206 |
Regulatory liabilities | 430 | 255 |
Other | 487 | 611 |
Total current liabilities | 3,201 | 2,884 |
Long-Term Debt (includes amounts related to VIEs) | 11,497 | 11,142 |
Long-Term Debt Payable to Affiliated Companies | 300 | 300 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 3,915 | 3,921 |
Asset retirement obligations | 5,507 | 5,528 |
Regulatory liabilities | 6,243 | 6,423 |
Operating lease liabilities | 102 | 102 |
Accrued pension and other post-retirement benefit costs | 76 | 84 |
Investment tax credits | 237 | 231 |
Other (includes amounts related to VIEs) | 644 | 627 |
Total other noncurrent liabilities | 16,724 | 16,916 |
Commitments and Contingencies | ||
Equity | ||
Member's equity | 13,333 | 12,818 |
Accumulated other comprehensive loss | (7) | (7) |
Total member's equity | 13,326 | 12,811 |
Total Liabilities and Equity | 45,048 | 44,053 |
Progress Energy | ||
Current Assets | ||
Cash and cash equivalents | 70 | 48 |
Receivables (net of allowance for doubtful accounts) | 196 | 220 |
Receivables of VIEs (net of allowance for doubtful accounts) | 1,071 | 830 |
Receivables from affiliated companies | 44 | 76 |
Notes receivable from affiliated companies | 164 | |
Inventory | 1,378 | 1,423 |
Regulatory assets (includes amounts related to VIEs) | 775 | 946 |
Other (includes amounts related to VIEs) | 81 | 210 |
Total current assets | 3,615 | 3,917 |
Property, Plant and Equipment | ||
Cost | 57,152 | 55,070 |
Accumulated depreciation and amortization | (18,008) | (17,159) |
Generation facilities to be retired, net | 29 | 246 |
Net property, plant and equipment | 39,173 | 38,157 |
Other Noncurrent Assets | ||
Goodwill | 3,655 | 3,655 |
Regulatory assets (includes amounts related to VIEs) | 6,270 | 6,346 |
Nuclear decommissioning trust funds | 3,857 | 3,782 |
Operating lease right-of-use assets, net | 710 | 788 |
Other (includes amounts related to VIEs) | 1,212 | 1,049 |
Total other noncurrent assets | 15,704 | 15,620 |
Total Assets | 58,492 | 57,694 |
Current Liabilities | ||
Accounts payable | 795 | 1,104 |
Accounts payable to affiliated companies | 208 | 310 |
Notes payable to affiliated companies | 2,159 | 1,821 |
Taxes accrued | 310 | 46 |
Interest accrued | 199 | 228 |
Current maturities of long-term debt (includes amounts related to VIEs) | 1,726 | 1,577 |
Asset retirement obligations | 297 | 485 |
Regulatory liabilities | 545 | 330 |
Other | 756 | 902 |
Total current liabilities | 6,995 | 6,803 |
Long-Term Debt (includes amounts related to VIEs) | 17,989 | 17,907 |
Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 4,508 | 4,462 |
Asset retirement obligations | 6,058 | 5,986 |
Regulatory liabilities | 4,809 | 5,225 |
Operating lease liabilities | 637 | 697 |
Accrued pension and other post-retirement benefit costs | 474 | 488 |
Other (includes amounts related to VIEs) | 443 | 383 |
Total other noncurrent liabilities | 16,929 | 17,241 |
Commitments and Contingencies | ||
Equity | ||
Additional paid-in capital | 9,143 | 9,143 |
Retained earnings | 7,296 | 6,465 |
Accumulated other comprehensive loss | (13) | (18) |
Total Duke Energy Corporation stockholders' equity | 16,426 | 15,590 |
Noncontrolling interests | 3 | 3 |
Total equity | 16,429 | 15,593 |
Total Liabilities and Equity | 58,492 | 57,694 |
Duke Energy Progress | ||
Current Assets | ||
Cash and cash equivalents | 43 | 22 |
Receivables (net of allowance for doubtful accounts) | 103 | 123 |
Receivables of VIEs (net of allowance for doubtful accounts) | 559 | 489 |
Receivables from affiliated companies | 45 | 52 |
Inventory | 910 | 934 |
Regulatory assets (includes amounts related to VIEs) | 472 | 526 |
Other (includes amounts related to VIEs) | 54 | 60 |
Total current assets | 2,186 | 2,206 |
Property, Plant and Equipment | ||
Cost | 35,479 | 34,603 |
Accumulated depreciation and amortization | (12,548) | (11,915) |
Generation facilities to be retired, net | 29 | 246 |
Net property, plant and equipment | 22,960 | 22,934 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 4,449 | 4,152 |
Nuclear decommissioning trust funds | 3,189 | 3,047 |
Operating lease right-of-use assets, net | 357 | 387 |
Other (includes amounts related to VIEs) | 720 | 651 |
Total other noncurrent assets | 8,715 | 8,237 |
Total Assets | 33,861 | 33,377 |
Current Liabilities | ||
Accounts payable | 372 | 629 |
Accounts payable to affiliated companies | 144 | 203 |
Notes payable to affiliated companies | 167 | 66 |
Taxes accrued | 207 | 17 |
Interest accrued | 80 | 110 |
Current maturities of long-term debt (includes amounts related to VIEs) | 603 | 1,006 |
Asset retirement obligations | 297 | 485 |
Regulatory liabilities | 436 | 236 |
Other | 389 | 478 |
Total current liabilities | 2,695 | 3,230 |
Long-Term Debt (includes amounts related to VIEs) | 8,605 | 7,902 |
Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 2,426 | 2,388 |
Asset retirement obligations | 5,503 | 5,408 |
Regulatory liabilities | 4,140 | 4,232 |
Operating lease liabilities | 329 | 354 |
Accrued pension and other post-retirement benefit costs | 236 | 238 |
Investment tax credits | 133 | 137 |
Other (includes amounts related to VIEs) | 88 | 92 |
Total other noncurrent liabilities | 12,855 | 12,849 |
Commitments and Contingencies | ||
Equity | ||
Total member's equity | 9,556 | 9,246 |
Total Liabilities and Equity | 33,861 | 33,377 |
Duke Energy Florida | ||
Current Assets | ||
Cash and cash equivalents | 19 | 17 |
Receivables (net of allowance for doubtful accounts) | 91 | 96 |
Receivables of VIEs (net of allowance for doubtful accounts) | 512 | 341 |
Receivables from affiliated companies | 3 | |
Notes receivable from affiliated companies | 173 | |
Inventory | 468 | 489 |
Regulatory assets (includes amounts related to VIEs) | 303 | 419 |
Other (includes amounts related to VIEs) | 25 | 58 |
Total current assets | 1,421 | 1,593 |
Property, Plant and Equipment | ||
Cost | 21,662 | 20,457 |
Accumulated depreciation and amortization | (5,452) | (5,236) |
Net property, plant and equipment | 16,210 | 15,221 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 1,821 | 2,194 |
Nuclear decommissioning trust funds | 668 | 734 |
Operating lease right-of-use assets, net | 354 | 401 |
Other (includes amounts related to VIEs) | 341 | 311 |
Total other noncurrent assets | 3,184 | 3,640 |
Total Assets | 20,815 | 20,454 |
Current Liabilities | ||
Accounts payable | 424 | 474 |
Accounts payable to affiliated companies | 77 | 131 |
Notes payable to affiliated companies | 66 | |
Taxes accrued | 260 | 43 |
Interest accrued | 73 | 75 |
Current maturities of long-term debt (includes amounts related to VIEs) | 623 | 571 |
Regulatory liabilities | 109 | 94 |
Other | 359 | 415 |
Total current liabilities | 1,991 | 1,803 |
Long-Term Debt (includes amounts related to VIEs) | 7,294 | 7,416 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 2,175 | 2,179 |
Asset retirement obligations | 555 | 578 |
Regulatory liabilities | 669 | 993 |
Operating lease liabilities | 308 | 343 |
Accrued pension and other post-retirement benefit costs | 207 | 218 |
Other (includes amounts related to VIEs) | 205 | 136 |
Total other noncurrent liabilities | 4,119 | 4,447 |
Commitments and Contingencies | ||
Equity | ||
Member's equity | 7,411 | 6,789 |
Accumulated other comprehensive loss | (1) | |
Total member's equity | 7,411 | 6,788 |
Total Liabilities and Equity | 20,815 | 20,454 |
Duke Energy Ohio | ||
Current Assets | ||
Cash and cash equivalents | 10 | 17 |
Receivables (net of allowance for doubtful accounts) | 90 | 84 |
Receivables from affiliated companies | 57 | 92 |
Inventory | 130 | 135 |
Regulatory assets (includes amounts related to VIEs) | 35 | 49 |
Other (includes amounts related to VIEs) | 13 | 21 |
Total current assets | 335 | 398 |
Property, Plant and Equipment | ||
Cost | 10,804 | 10,241 |
Accumulated depreciation and amortization | (2,989) | (2,843) |
Net property, plant and equipment | 7,815 | 7,398 |
Other Noncurrent Assets | ||
Goodwill | 920 | 920 |
Regulatory assets (includes amounts related to VIEs) | 597 | 549 |
Operating lease right-of-use assets, net | 20 | 21 |
Other (includes amounts related to VIEs) | 62 | 52 |
Total other noncurrent assets | 1,599 | 1,542 |
Total Assets | 9,749 | 9,338 |
Current Liabilities | ||
Accounts payable | 240 | 288 |
Accounts payable to affiliated companies | 54 | 68 |
Notes payable to affiliated companies | 85 | 312 |
Taxes accrued | 193 | 219 |
Interest accrued | 32 | 30 |
Asset retirement obligations | 7 | 1 |
Regulatory liabilities | 66 | 64 |
Other | 73 | 75 |
Total current liabilities | 750 | 1,057 |
Long-Term Debt (includes amounts related to VIEs) | 3,064 | 2,594 |
Long-Term Debt Payable to Affiliated Companies | 25 | 25 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 965 | 922 |
Asset retirement obligations | 84 | 79 |
Regulatory liabilities | 753 | 763 |
Operating lease liabilities | 20 | 21 |
Accrued pension and other post-retirement benefit costs | 104 | 100 |
Other (includes amounts related to VIEs) | 100 | 94 |
Total other noncurrent liabilities | 2,026 | 1,979 |
Commitments and Contingencies | ||
Equity | ||
Common stock | 762 | 762 |
Additional paid-in capital | 2,776 | 2,776 |
Retained earnings | 346 | 145 |
Total Duke Energy Corporation stockholders' equity | 3,884 | 3,683 |
Total Liabilities and Equity | 9,749 | 9,338 |
Duke Energy Indiana | ||
Current Assets | ||
Cash and cash equivalents | 15 | 25 |
Receivables (net of allowance for doubtful accounts) | 48 | 60 |
Receivables from affiliated companies | 84 | 79 |
Inventory | 507 | 517 |
Regulatory assets (includes amounts related to VIEs) | 119 | 90 |
Other (includes amounts related to VIEs) | 30 | 60 |
Total current assets | 803 | 831 |
Property, Plant and Equipment | ||
Cost | 17,223 | 16,305 |
Accumulated depreciation and amortization | (5,579) | (5,233) |
Net property, plant and equipment | 11,644 | 11,072 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 1,184 | 1,082 |
Operating lease right-of-use assets, net | 55 | 57 |
Other (includes amounts related to VIEs) | 228 | 234 |
Total other noncurrent assets | 1,467 | 1,373 |
Total Assets | 13,914 | 13,276 |
Current Liabilities | ||
Accounts payable | 172 | 201 |
Accounts payable to affiliated companies | 65 | 87 |
Notes payable to affiliated companies | 83 | 30 |
Taxes accrued | 110 | 49 |
Interest accrued | 63 | 58 |
Current maturities of long-term debt (includes amounts related to VIEs) | 13 | 503 |
Asset retirement obligations | 170 | 189 |
Regulatory liabilities | 76 | 55 |
Other | 98 | 112 |
Total current liabilities | 850 | 1,284 |
Long-Term Debt (includes amounts related to VIEs) | 3,941 | 3,404 |
Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 1,179 | 1,150 |
Asset retirement obligations | 1,044 | 643 |
Regulatory liabilities | 1,648 | 1,685 |
Operating lease liabilities | 53 | 55 |
Accrued pension and other post-retirement benefit costs | 151 | 148 |
Investment tax credits | 168 | 164 |
Other (includes amounts related to VIEs) | 56 | 18 |
Total other noncurrent liabilities | 4,299 | 3,863 |
Commitments and Contingencies | ||
Equity | ||
Total member's equity | 4,674 | 4,575 |
Total Liabilities and Equity | 13,914 | 13,276 |
Piedmont Natural Gas | ||
Current Assets | ||
Receivables (net of allowance for doubtful accounts) | 93 | 241 |
Receivables from affiliated companies | 11 | 10 |
Inventory | 47 | 72 |
Regulatory assets (includes amounts related to VIEs) | 119 | 73 |
Other (includes amounts related to VIEs) | 51 | 28 |
Total current assets | 321 | 424 |
Property, Plant and Equipment | ||
Cost | 8,882 | 8,446 |
Accumulated depreciation and amortization | (1,713) | (1,681) |
Net property, plant and equipment | 7,169 | 6,765 |
Other Noncurrent Assets | ||
Goodwill | 49 | 49 |
Regulatory assets (includes amounts related to VIEs) | 287 | 290 |
Operating lease right-of-use assets, net | 21 | 24 |
Investments in equity method unconsolidated affiliates | 86 | 83 |
Other (includes amounts related to VIEs) | 279 | 121 |
Total other noncurrent assets | 722 | 567 |
Total Assets | 8,212 | 7,756 |
Current Liabilities | ||
Accounts payable | 177 | 215 |
Accounts payable to affiliated companies | 63 | 3 |
Notes payable to affiliated companies | 327 | 476 |
Taxes accrued | 36 | 24 |
Interest accrued | 37 | 33 |
Current maturities of long-term debt (includes amounts related to VIEs) | 160 | |
Regulatory liabilities | 101 | 81 |
Other | 59 | 67 |
Total current liabilities | 960 | 899 |
Long-Term Debt (includes amounts related to VIEs) | 2,620 | 2,384 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 775 | 708 |
Asset retirement obligations | 17 | 17 |
Regulatory liabilities | 1,070 | 1,131 |
Operating lease liabilities | 20 | 23 |
Accrued pension and other post-retirement benefit costs | 7 | 3 |
Other (includes amounts related to VIEs) | 146 | 148 |
Total other noncurrent liabilities | 2,035 | 2,030 |
Commitments and Contingencies | ||
Equity | ||
Common stock | 1,310 | 1,310 |
Retained earnings | 1,287 | 1,133 |
Total Duke Energy Corporation stockholders' equity | 2,597 | 2,443 |
Total Liabilities and Equity | 8,212 | 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 | Sep. 30, 2020 | Dec. 31, 2019 |
Allowance for doubtful accounts - receivables | $ 27 | $ 22 |
Regulatory Assets: Current | 1,637 | 1,796 |
Current Assets: Other | 505 | 764 |
Other Noncurrent Assets: Regulatory assets | 13,264 | 13,222 |
Other, noncurrent assets | 3,539 | 3,289 |
Current maturities of long-term debt | 4,669 | 3,141 |
Long-Term Debt | $ 56,049 | $ 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 | 736,000,000 | 733,000,000 |
Other, noncurrent liabilities | $ 1,773 | $ 1,581 |
Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 106 | 54 |
Regulatory Assets: Current | 53 | 52 |
Current Assets: Other | 335 | 242 |
Other Noncurrent Assets: Regulatory assets | 951 | 989 |
Other, noncurrent assets | 90 | 110 |
Current maturities of long-term debt | 466 | 216 |
Long-Term Debt | 3,628 | 3,997 |
Other, noncurrent liabilities | 342 | 228 |
Duke Energy Carolinas | ||
Allowance for doubtful accounts - receivables | 1 | 3 |
Regulatory Assets: Current | 495 | 550 |
Current Assets: Other | 44 | 21 |
Other Noncurrent Assets: Regulatory assets | 3,400 | 3,360 |
Other, noncurrent assets | 1,179 | 1,149 |
Current maturities of long-term debt | 751 | 458 |
Long-Term Debt | 11,497 | 11,142 |
Other, noncurrent liabilities | 644 | 627 |
Duke Energy Carolinas | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 21 | 7 |
Progress Energy | ||
Allowance for doubtful accounts - receivables | 9 | 7 |
Regulatory Assets: Current | 775 | 946 |
Current Assets: Other | 81 | 210 |
Other Noncurrent Assets: Regulatory assets | 6,270 | 6,346 |
Other, noncurrent assets | 1,212 | 1,049 |
Current maturities of long-term debt | 1,726 | 1,577 |
Long-Term Debt | $ 17,989 | $ 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 | $ 443 | $ 383 |
Progress Energy | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 28 | 9 |
Regulatory Assets: Current | 53 | 52 |
Current Assets: Other | 16 | 39 |
Other Noncurrent Assets: Regulatory assets | 951 | 989 |
Current maturities of long-term debt | 305 | 54 |
Long-Term Debt | 1,351 | 1,632 |
Duke Energy Progress | ||
Allowance for doubtful accounts - receivables | 4 | 3 |
Regulatory Assets: Current | 472 | 526 |
Current Assets: Other | 54 | 60 |
Other Noncurrent Assets: Regulatory assets | 4,449 | 4,152 |
Other, noncurrent assets | 720 | 651 |
Current maturities of long-term debt | 603 | 1,006 |
Long-Term Debt | 8,605 | 7,902 |
Other, noncurrent liabilities | 88 | 92 |
Duke Energy Progress | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 17 | 5 |
Duke Energy Florida | ||
Allowance for doubtful accounts - receivables | 5 | 3 |
Regulatory Assets: Current | 303 | 419 |
Current Assets: Other | 25 | 58 |
Other Noncurrent Assets: Regulatory assets | 1,821 | 2,194 |
Other, noncurrent assets | 341 | 311 |
Current maturities of long-term debt | 623 | 571 |
Long-Term Debt | 7,294 | 7,416 |
Other, noncurrent liabilities | 205 | 136 |
Duke Energy Florida | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 11 | 4 |
Regulatory Assets: Current | 53 | 52 |
Current Assets: Other | 16 | 39 |
Other Noncurrent Assets: Regulatory assets | 951 | 989 |
Current maturities of long-term debt | 305 | 54 |
Long-Term Debt | 1,001 | 1,307 |
Duke Energy Ohio | ||
Allowance for doubtful accounts - receivables | 5 | 4 |
Regulatory Assets: Current | 35 | 49 |
Current Assets: Other | 13 | 21 |
Other Noncurrent Assets: Regulatory assets | 597 | 549 |
Other, noncurrent assets | 62 | 52 |
Long-Term Debt | $ 3,064 | $ 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 | $ 100 | $ 94 |
Duke Energy Indiana | ||
Allowance for doubtful accounts - receivables | 3 | 3 |
Regulatory Assets: Current | 119 | 90 |
Current Assets: Other | 30 | 60 |
Other Noncurrent Assets: Regulatory assets | 1,184 | 1,082 |
Other, noncurrent assets | 228 | 234 |
Current maturities of long-term debt | 13 | 503 |
Long-Term Debt | 3,941 | 3,404 |
Other, noncurrent liabilities | 56 | 18 |
Piedmont Natural Gas | ||
Allowance for doubtful accounts - receivables | 9 | 6 |
Regulatory Assets: Current | 119 | 73 |
Current Assets: Other | 51 | 28 |
Other Noncurrent Assets: Regulatory assets | 287 | 290 |
Other, noncurrent assets | 279 | 121 |
Current maturities of long-term debt | 160 | |
Long-Term Debt | $ 2,620 | $ 2,384 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Other, noncurrent liabilities | $ 146 | $ 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 | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net (loss) income | $ 1,232 | $ 2,964 |
Net income (loss) (attributable to parent) | 1,440 | 3,074 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 4,081 | 3,831 |
Equity in losses (earnings) of unconsolidated affiliates | 2,004 | (137) |
Equity component of AFUDC | (112) | (99) |
(Gains) losses on sales of other assets | (10) | |
Impairment charges | 36 | (16) |
Deferred income taxes | 210 | 736 |
Contributions to qualified pension plans | (77) | |
Payments for asset retirement obligations | (463) | (582) |
Provision for rate refunds | (15) | 61 |
Refund of AMT credit carryforwards | 572 | |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | 87 | (4) |
Receivables | 58 | 62 |
Inventory | 43 | (3) |
Other current assets | 199 | (134) |
Increase (decrease) in | ||
Accounts payable | (563) | (538) |
Taxes accrued | 386 | 125 |
Other current liabilities | (284) | (198) |
Other assets | (328) | (279) |
Other liabilities | (367) | (75) |
Net cash provided by operating activities | 6,766 | 5,637 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (7,408) | (8,084) |
Contributions to equity method investments | (276) | (264) |
Purchases of debt and equity securities | (6,160) | (3,105) |
Proceeds from sales and maturities of debt and equity securities | 6,087 | 3,092 |
Other | (207) | (272) |
Net cash used in investing activities | (7,964) | (8,633) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 6,162 | 6,131 |
Proceeds from the issuance of preferred stock | 1,963 | |
Proceeds from the issuance of common stock | 75 | 41 |
Payments for the redemption of long-term debt | (3,468) | (2,737) |
Proceeds from the issuance of short-term debt with original maturities greater than 90 days | 2,372 | 339 |
Payments for the redemption of short-term debt with original maturities greater than 90 days | (1,143) | (479) |
Notes payable and commercial paper | (969) | (879) |
Contributions from noncontrolling interests | 402 | 615 |
Dividends paid | (2,113) | (1,990) |
Other | (93) | (17) |
Net cash provided by financing activities | 1,225 | 2,987 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 27 | (9) |
Cash, cash equivalents and restricted cash at beginning of period | 573 | 591 |
Cash, cash equivalents and restricted cash at end of period | 600 | 582 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 992 | 1,073 |
Non-cash dividends | 82 | 81 |
Duke Energy Carolinas | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) (attributable to parent) | 1,128 | 1,184 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 1,295 | 1,227 |
Equity component of AFUDC | (46) | (29) |
(Gains) losses on sales of other assets | (1) | |
Impairment charges | 22 | 11 |
Deferred income taxes | (103) | 96 |
Contributions to qualified pension plans | (7) | |
Payments for asset retirement obligations | (127) | (234) |
Provision for rate refunds | (1) | 34 |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | (7) | |
Receivables | 41 | (80) |
Receivables from affiliated companies | 50 | 74 |
Inventory | 4 | 5 |
Other current assets | 197 | (117) |
Increase (decrease) in | ||
Accounts payable | (313) | (284) |
Accounts payable to affiliated companies | (55) | (56) |
Taxes accrued | 352 | 91 |
Other current liabilities | (121) | 44 |
Other assets | (71) | (2) |
Other liabilities | (23) | (44) |
Net cash provided by operating activities | 2,228 | 1,906 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (1,931) | (1,984) |
Purchases of debt and equity securities | (1,313) | (1,658) |
Proceeds from sales and maturities of debt and equity securities | 1,313 | 1,658 |
Notes receivable from affiliated companies | (65) | |
Other | (105) | (80) |
Net cash used in investing activities | (2,101) | (2,064) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 965 | 819 |
Payments for the redemption of long-term debt | (457) | (5) |
Notes payable to affiliated companies | (29) | (390) |
Distributions to parent | (600) | (275) |
Other | (1) | (1) |
Net cash provided by financing activities | (122) | 148 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 5 | (10) |
Cash, cash equivalents and restricted cash at beginning of period | 18 | 33 |
Cash, cash equivalents and restricted cash at end of period | 23 | 23 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 295 | 261 |
Progress Energy | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net (loss) income | 1,233 | 1,098 |
Net income (loss) (attributable to parent) | 1,232 | 1,098 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 1,734 | 1,649 |
Equity component of AFUDC | (30) | (48) |
(Gains) losses on sales of other assets | (9) | |
Impairment charges | 1 | (25) |
Deferred income taxes | (3) | 342 |
Contributions to qualified pension plans | (57) | |
Payments for asset retirement obligations | (287) | (309) |
Provision for rate refunds | 4 | 13 |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | (13) | 9 |
Receivables | (207) | (128) |
Receivables from affiliated companies | 32 | 135 |
Inventory | 46 | 45 |
Other current assets | 214 | 79 |
Increase (decrease) in | ||
Accounts payable | (124) | (64) |
Accounts payable to affiliated companies | (102) | (6) |
Taxes accrued | 263 | 150 |
Other current liabilities | (41) | (96) |
Other assets | (145) | (282) |
Other liabilities | (102) | (75) |
Net cash provided by operating activities | 2,464 | 2,430 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (2,602) | (2,866) |
Purchases of debt and equity securities | (4,554) | (1,304) |
Proceeds from sales and maturities of debt and equity securities | 4,543 | 1,300 |
Notes receivable from affiliated companies | 164 | |
Other | (114) | (130) |
Net cash used in investing activities | (2,563) | (3,000) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 1,791 | 1,295 |
Payments for the redemption of long-term debt | (1,555) | (1,263) |
Notes payable to affiliated companies | 338 | 554 |
Distributions to parent | (400) | |
Other | (13) | 8 |
Net cash provided by financing activities | 161 | 594 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 62 | 24 |
Cash, cash equivalents and restricted cash at beginning of period | 126 | 112 |
Cash, cash equivalents and restricted cash at end of period | 188 | 136 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 311 | 400 |
Duke Energy Progress | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) (attributable to parent) | 711 | 650 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 972 | 996 |
Equity component of AFUDC | (22) | (44) |
(Gains) losses on sales of other assets | (8) | |
Impairment charges | 5 | |
Deferred income taxes | (33) | 144 |
Contributions to qualified pension plans | (4) | |
Payments for asset retirement obligations | (249) | (288) |
Provision for rate refunds | 4 | 13 |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | (4) | |
Receivables | (34) | (9) |
Receivables from affiliated companies | 7 | (11) |
Inventory | 24 | 15 |
Other current assets | 82 | 65 |
Increase (decrease) in | ||
Accounts payable | (185) | (54) |
Accounts payable to affiliated companies | (59) | (80) |
Taxes accrued | 190 | 37 |
Other current liabilities | (24) | (17) |
Other assets | (177) | (201) |
Other liabilities | 21 | 39 |
Net cash provided by operating activities | 1,225 | 1,247 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (1,142) | (1,592) |
Purchases of debt and equity securities | (1,269) | (656) |
Proceeds from sales and maturities of debt and equity securities | 1,238 | 632 |
Other | (31) | (56) |
Net cash used in investing activities | (1,204) | (1,672) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 1,296 | 1,270 |
Payments for the redemption of long-term debt | (985) | (603) |
Notes payable to affiliated companies | 101 | (215) |
Distributions to parent | (400) | |
Other | (12) | (1) |
Net cash provided by financing activities | 451 | |
Net increase (decrease) in cash, cash equivalents and restricted cash | 21 | 26 |
Cash, cash equivalents and restricted cash at beginning of period | 22 | 23 |
Cash, cash equivalents and restricted cash at end of period | 43 | 49 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 124 | 182 |
Duke Energy Florida | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) (attributable to parent) | 623 | 586 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 755 | 647 |
Equity component of AFUDC | (8) | (4) |
Impairment charges | (4) | (25) |
Deferred income taxes | 19 | 164 |
Contributions to qualified pension plans | (53) | |
Payments for asset retirement obligations | (38) | (21) |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | (17) | 9 |
Receivables | (172) | (119) |
Receivables from affiliated companies | (3) | 27 |
Inventory | 22 | 29 |
Other current assets | 41 | 100 |
Increase (decrease) in | ||
Accounts payable | 63 | (11) |
Accounts payable to affiliated companies | (54) | 67 |
Taxes accrued | 217 | 101 |
Other current liabilities | (20) | (77) |
Other assets | 48 | (77) |
Other liabilities | (136) | (123) |
Net cash provided by operating activities | 1,336 | 1,220 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (1,460) | (1,274) |
Purchases of debt and equity securities | (3,284) | (648) |
Proceeds from sales and maturities of debt and equity securities | 3,305 | 668 |
Notes receivable from affiliated companies | 173 | |
Other | (82) | (73) |
Net cash used in investing activities | (1,348) | (1,327) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 495 | 25 |
Payments for the redemption of long-term debt | (570) | (210) |
Notes payable to affiliated companies | 66 | 248 |
Other | 9 | |
Net cash provided by financing activities | (9) | 72 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (21) | (35) |
Cash, cash equivalents and restricted cash at beginning of period | 56 | 75 |
Cash, cash equivalents and restricted cash at end of period | 35 | 40 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 187 | 218 |
Duke Energy Ohio | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) (attributable to parent) | 201 | 190 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 211 | 202 |
Equity component of AFUDC | (4) | (9) |
Deferred income taxes | 31 | 68 |
Contributions to qualified pension plans | (2) | |
Payments for asset retirement obligations | (1) | (7) |
Provision for rate refunds | 10 | 5 |
(Increase) decrease in | ||
Receivables | (5) | 24 |
Receivables from affiliated companies | 35 | 51 |
Inventory | 5 | (2) |
Other current assets | 5 | (15) |
Increase (decrease) in | ||
Accounts payable | (28) | (40) |
Accounts payable to affiliated companies | (14) | (9) |
Taxes accrued | (23) | (40) |
Other current liabilities | 6 | (4) |
Other assets | (24) | (12) |
Other liabilities | (7) | (22) |
Net cash provided by operating activities | 398 | 378 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (611) | (714) |
Notes receivable from affiliated companies | (74) | |
Other | (34) | (45) |
Net cash used in investing activities | (645) | (833) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 467 | 1,003 |
Payments for the redemption of long-term debt | (451) | |
Notes payable to affiliated companies | (227) | (107) |
Net cash provided by financing activities | 240 | 445 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (7) | (10) |
Cash, cash equivalents and restricted cash at beginning of period | 17 | 21 |
Cash, cash equivalents and restricted cash at end of period | 10 | 11 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 92 | 100 |
Duke Energy Indiana | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) (attributable to parent) | 299 | 363 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 416 | 395 |
Equity component of AFUDC | (18) | (13) |
Deferred income taxes | 11 | 108 |
Contributions to qualified pension plans | (2) | |
Payments for asset retirement obligations | (48) | (31) |
(Increase) decrease in | ||
Receivables | 15 | 1 |
Receivables from affiliated companies | (5) | 37 |
Inventory | 10 | (56) |
Other current assets | 12 | 91 |
Increase (decrease) in | ||
Accounts payable | (1) | 1 |
Accounts payable to affiliated companies | (22) | (9) |
Taxes accrued | 65 | (14) |
Other current liabilities | (2) | (12) |
Other assets | (41) | (75) |
Other liabilities | 104 | 67 |
Net cash provided by operating activities | 795 | 851 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (669) | (663) |
Purchases of debt and equity securities | (24) | (19) |
Proceeds from sales and maturities of debt and equity securities | 15 | 15 |
Notes receivable from affiliated companies | (213) | |
Other | (24) | (33) |
Net cash used in investing activities | (702) | (913) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 544 | 485 |
Payments for the redemption of long-term debt | (500) | (60) |
Notes payable to affiliated companies | 53 | (167) |
Distributions to parent | (200) | (200) |
Net cash provided by financing activities | (103) | 58 |
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 | 73 | 82 |
Piedmont Natural Gas | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) (attributable to parent) | 155 | 97 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 135 | 129 |
Equity in losses (earnings) of unconsolidated affiliates | (7) | (6) |
Equity component of AFUDC | (14) | |
Impairment charges | 7 | |
Deferred income taxes | 24 | 110 |
Contributions to qualified pension plans | (1) | |
Provision for rate refunds | (27) | 9 |
(Increase) decrease in | ||
Receivables | 164 | 192 |
Receivables from affiliated companies | (1) | 12 |
Inventory | 25 | 23 |
Other current assets | (59) | (95) |
Increase (decrease) in | ||
Accounts payable | (53) | (93) |
Accounts payable to affiliated companies | 60 | 12 |
Taxes accrued | 16 | (51) |
Other current liabilities | (4) | (6) |
Other assets | (14) | (10) |
Other liabilities | 7 | (5) |
Net cash provided by operating activities | 414 | 317 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (641) | (751) |
Contributions to equity method investments | (16) | |
Other | (18) | (10) |
Net cash used in investing activities | (659) | (777) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 394 | 596 |
Payments for the redemption of long-term debt | (350) | |
Notes payable to affiliated companies | (149) | 64 |
Capital contributions from parent | 150 | |
Net cash provided by financing activities | 245 | 460 |
Significant non-cash transactions: | ||
Accrued capital expenditures | $ 123 | $ 121 |
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 | [2] | Preferred stock, Series APreferred Stock | Preferred stock, Series ACommon Stockholders' Equity | [2] | Preferred stock, Series B | [3] | Preferred stock, Series BPreferred Stock | Preferred stock, Series BCommon Stockholders' Equity | [3] | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 2,937 | 3,047 | 3,047 | (110) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) (attributable to parent) | 3,074 | 1,184 | 1,184 | 1,098 | $ 650 | 650 | 586 | 586 | 190 | 190 | $ 363 | 363 | 97 | 97 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | 2,964 | 1,098 | 1,098 | 1,098 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (47) | [1] | (47) | (58) | 10 | 1 | 8 | 8 | 4 | 2 | 2 | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances | $ 973 | $ 973 | [2] | $ 973 | $ 990 | $ 990 | [3] | $ 990 | $ 158 | $ 158 | $ 158 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances, in shares | 40,000,000 | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends | (2,044) | (2,044) | (2,044) | (275) | (275) | (200) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of noncontrolling interest | [4] | 408 | (455) | (465) | 10 | 863 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from noncontrolling interest in subsidiaries | [5] | 200 | 200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (1) | (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from parent | 150 | 150 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | (1) | [6] | (1) | [6] | 23 | [6] | (6) | [6] | (1) | [6] | (17) | [6] | (1) | (1) | 7 | [7] | (4) | [7] | (1) | (2) | [7] | ||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Sep. 30, 2019 | 47,407 | $ 1,963 | 46,438 | $ 1 | 40,488 | 4,139 | (68) | 6 | (91) | 969 | 15,363 | 15,360 | 9,143 | 6,236 | (12) | (7) | 3 | ||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (member's equity) at Sep. 30, 2019 | 12,591 | 12,598 | (7) | 9,091 | 6,683 | 6,683 | 4,502 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, in shares at Sep. 30, 2019 | 729,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (parent) at Sep. 30, 2019 | 3,635 | 762 | 2,776 | 97 | 2,338 | 1,310 | 1,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Jun. 30, 2019 | 45,332 | 973 | 45,213 | $ 1 | 40,885 | 3,502 | (63) | 4 | (89) | 119 | 14,839 | 14,837 | 9,143 | 5,715 | (13) | (8) | 2 | ||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, in shares at Jun. 30, 2019 | 728,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance (member's equity) at Jun. 30, 2019 | 12,276 | 12,283 | (7) | 8,813 | 6,393 | 6,394 | (1) | 4,546 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance (parent) at Jun. 30, 2019 | 3,561 | 762 | 2,776 | 23 | 2,356 | 1,310 | 1,046 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 1,308 | 1,327 | 1,327 | (19) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) (attributable to parent) | 1,342 | 590 | 590 | 521 | 278 | 278 | 289 | 289 | 74 | 74 | 156 | 156 | (18) | (18) | |||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | 1,323 | 521 | 521 | 521 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (15) | [1] | (15) | (15) | 2 | (2) | 2 | 2 | 1 | 1 | 1 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances | $ 990 | $ 990 | [3] | $ 990 | 69 | 69 | 69 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances, in shares | 1,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends | (690) | (690) | (690) | (275) | (275) | (200) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of noncontrolling interest | [4] | 408 | (455) | (465) | 10 | 863 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from noncontrolling interest in subsidiaries | 7 | 7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | (2) | (1) | (1) | (1) | 1 | (1) | 1 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Sep. 30, 2019 | 47,407 | 1,963 | 46,438 | $ 1 | 40,488 | 4,139 | (68) | 6 | (91) | 969 | 15,363 | 15,360 | 9,143 | 6,236 | (12) | (7) | 3 | ||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (member's equity) at Sep. 30, 2019 | 12,591 | 12,598 | (7) | 9,091 | 6,683 | 6,683 | 4,502 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, in shares at Sep. 30, 2019 | 729,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (parent) at Sep. 30, 2019 | $ 3,635 | 762 | 2,776 | 97 | $ 2,338 | 1,310 | 1,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 (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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 1,139 | 1,347 | 1,347 | (208) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) (attributable to parent) | 1,440 | 1,128 | 1,128 | 1,232 | 711 | 711 | 623 | 623 | $ 201 | 201 | 299 | 299 | 155 | 155 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | 1,232 | 1,233 | 1,232 | 1,232 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (145) | [1] | (133) | (139) | 5 | 1 | (12) | 5 | 5 | 3 | 1 | 1 | 1 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances | 181 | 181 | 181 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances, in shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends | (2,103) | (2,103) | (2,103) | (600) | (600) | (400) | (400) | (400) | (400) | (200) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from noncontrolling interest in subsidiaries | [5] | 385 | (17) | (17) | 402 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (22) | (22) | (1) | (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | (91) | [8] | (91) | [8] | 1 | (92) | [8] | (13) | [9] | (13) | [9] | (1) | (1) | (1) | (1) | (1) | (1) | $ (1) | (1) | ||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Sep. 30, 2020 | $ 47,295 | 1,962 | 46,006 | $ 1 | 41,046 | 3,260 | (190) | 8 | (81) | 1,289 | $ 16,429 | 16,426 | 9,143 | 7,296 | (7) | (6) | 3 | ||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (member's equity) at Sep. 30, 2020 | 13,326 | 13,333 | (7) | 9,556 | 9,556 | 7,411 | 7,411 | 4,674 | 4,674 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, in shares at Sep. 30, 2020 | 736,000,000 | 736,000,000 | 100 | 90,000,000 | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (parent) at Sep. 30, 2020 | $ 46,006 | $ 16,426 | $ 3,884 | 762 | 2,776 | 346 | $ 2,597 | 1,310 | 1,287 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Jun. 30, 2020 | 46,611 | 1,962 | 45,484 | $ 1 | 40,997 | 2,707 | (111) | 10 | (82) | 1,127 | 16,221 | 16,218 | 9,143 | 7,090 | (8) | (1) | (6) | 3 | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, in shares at Jun. 30, 2020 | 735,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance (member's equity) at Jun. 30, 2020 | 13,072 | 13,079 | (7) | 9,610 | 7,124 | 7,125 | (1) | 4,655 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance (parent) at Jun. 30, 2020 | 3,814 | 762 | 2,776 | 276 | 2,622 | 1,310 | 1,312 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 1,195 | 1,265 | 1,265 | (70) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) (attributable to parent) | 1,304 | 555 | 555 | 605 | 346 | 346 | 287 | 287 | $ 70 | 70 | 119 | 119 | $ (25) | (25) | |||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | 1,234 | 606 | 605 | 605 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (80) | [1] | (80) | (79) | (2) | 1 | 2 | 2 | 1 | $ 1 | 1 | $ 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances | $ 65 | $ 65 | $ 65 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances, in shares | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends | (712) | (712) | (712) | (300) | (300) | (400) | (400) | (400) | (400) | (100) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from noncontrolling interest in subsidiaries | [5] | 222 | (17) | (17) | 239 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (8) | (8) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 2 | 1 | 1 | 1 | (1) | (1) | 1 | 1 | (1) | (1) | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Sep. 30, 2020 | $ 47,295 | $ 1,962 | $ 46,006 | $ 1 | $ 41,046 | $ 3,260 | $ (190) | $ 8 | $ (81) | $ 1,289 | $ 16,429 | $ 16,426 | $ 9,143 | $ 7,296 | $ (7) | $ (6) | $ 3 | ||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (member's equity) at Sep. 30, 2020 | $ 13,326 | $ 13,333 | $ (7) | $ 9,556 | $ 9,556 | $ 7,411 | $ 7,411 | $ 4,674 | $ 4,674 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, in shares at Sep. 30, 2020 | 736,000,000 | 736,000,000 | 100 | 90,000,000 | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (parent) at Sep. 30, 2020 | $ 46,006 | $ 16,426 | $ 3,884 | $ 762 | $ 2,776 | $ 346 | $ 2,597 | $ 1,310 | $ 1,287 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Net of income tax impacts of approximately $24 million for the three months ended September 30, 2020 , and $43 million and $14 million for the nine months ended September 30, 2020 , and 2019 , respectively. All other periods presented include immaterial income tax impacts. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Duke Energy issued 40 million depositary shares of preferred stock, Series A. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Duke Energy issued 1 million shares of preferred stock, series B, in the third quarter of 2019. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | See Note 2 for additional discussion of the transaction. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Relates to tax equity financing activity in the Commercial Renewables segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | 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) - Preferred Stock - shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Preferred stock, Series A | ||
Stock issuances, in shares | 40,000,000 | |
Preferred stock, Series B | ||
Stock issuances, in shares | 1,000,000 |
Organization and Basis of Prese
Organization and Basis of Presentation | 9 Months Ended |
Sep. 30, 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 17 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 12 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 declared COVID-19 a global pandemic, and President Trump proclaimed that the COVID-19 outbreak in the United States constitutes a national emergency. The Duke Energy Registrants are monitoring developments closely and responding appropriately. The company incurred approximately $39 million and $91 million of incremental COVID-19 costs before deferral for the three and nine months ended September 30, 2020 , respectively, included in Operation, maintenance and other on the Condensed Consolidated Statements of Operations. For the nine months ended September 30, 2020 , the company has deferred approximately $56 million of these incremental costs, which were primarily bad debt expense, personal protective equipment and cleaning supplies. Further, the company waived approximately $29 million and $54 million of late payment fees for the three and nine months ended September 30, 2020 , respectively. See Notes 3 , 5 , 12 , 13 and 16 for additional information as well as steps taken to mitigate the impacts to our business and customers from the COVID-19 pandemic. OTHER CURRENT ASSETS Included in Other within Current Assets on the Piedmont Condensed Consolidated Balance Sheets are prepaid assets of $23 million and $3 million as of September 30, 2020 , and December 31, 2019 , respectively. The prepaid assets relate to natural gas storage injections and inventory transfers classified as prepaid assets until winter season when the natural gas is moved to Inventory on the Piedmont Condensed Consolidated Balance Sheets under certain agreements. OTHER CURRENT LIABILITIES Included in Other within Current Liabilities on the Duke Energy Condensed Consolidated Balance Sheet is a current liability of $935 million and $0 as of September 30, 2020 , and December 31, 2019 , respectively. The current liability, initially recorded in the second quarter and increased during the third quarter, primarily represents Duke Energy's share of ACP's obligations of outstanding debt and to satisfy ARO requirements to restore construction sites. See Notes 3 , 4 and 12 for further information. 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 over the IRS recapture period, 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. 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 . The following table presents cash received for the sale of noncontrolling interest and allocated losses to noncontrolling interest for the three and nine months ended September 30, 2020 , and 2019 . Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Noncontrolling Interest Capital Contributions Cash received for the sale of noncontrolling interest to tax equity members $ 239 $ 7 $ 402 $ 200 Cash received for the sale of noncontrolling interest to pro rata share members — — — 415 Total Noncontrolling Interest Capital Contributions 239 7 402 615 Noncontrolling Interest Allocation of Income Allocated losses to noncontrolling tax equity members utilizing the HLBV method 59 15 187 105 Allocated losses to noncontrolling members based on pro rata shares of ownership 11 4 21 5 Total Noncontrolling Interest Allocated Losses $ 70 $ 19 $ 208 $ 110 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 Notes 10 and 12 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. September 30, 2020 December 31, 2019 Duke Duke Duke Progress Energy Duke Progress Energy Energy Energy Florida Energy Energy Florida Current Assets Cash and cash equivalents $ 308 $ 70 $ 19 $ 311 $ 48 $ 17 Other 187 16 16 222 39 39 Other Noncurrent Assets Other 105 102 — 40 39 — Total cash, cash equivalents and restricted cash $ 600 $ 188 $ 35 $ 573 $ 126 $ 56 INVENTORY Provisions for inventory write-offs were not material at September 30, 2020 , and December 31, 2019 . The components of inventory are presented in the tables below. September 30, 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 $ 2,341 $ 779 $ 1,021 $ 682 $ 340 $ 79 $ 314 $ 13 Coal 546 173 168 120 48 12 192 — Natural gas, oil and other fuel 303 40 189 108 80 39 1 34 Total inventory $ 3,190 $ 992 $ 1,378 $ 910 $ 468 $ 130 $ 507 $ 47 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 Financial Accounting Standards Board (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 13 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 September 30, 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. The full outcome of the transition away from LIBOR cannot be determined at this time, but is not expected to have a material impact on the financial statements. |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 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. In 2020, Duke Energy continues to evaluate recoverability of a renewable merchant plant located in the Electric Reliability Council of Texas West market due to declining market pricing and declining long-term forecasted energy prices, primarily driven by lower forecasted natural gas prices. Duke Energy determined that the asset was not impaired as of September 30, 2020, because the carrying value of approximately $150 million approximates the aggregate estimated future undiscounted cash flows. A continued decline in energy market pricing would likely result in a future impairment. Duke Energy retained 51% ownership interest in this facility following the 2019 transaction to sell a minority interest in certain renewable assets. 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 ownership interest in National Methanol Company. Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets. Three Months Ended September 30, 2020 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 6,371 $ 217 $ 126 $ 6,714 $ 7 $ — $ 6,721 Intersegment revenues 8 24 — 32 17 (49 ) — Total revenues $ 6,379 $ 241 $ 126 $ 6,746 $ 24 $ (49 ) $ 6,721 Segment income (loss) (a)(b) $ 1,381 $ (73 ) $ 60 $ 1,368 $ (103 ) $ — $ 1,265 Less: Noncontrolling interests 70 Add: Preferred stock dividend 39 Net Income $ 1,234 Segment assets $ 138,142 $ 13,343 $ 6,541 $ 158,026 $ 3,387 $ (4 ) $ 161,409 Three Months Ended September 30, 2019 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 6,569 $ 225 $ 138 $ 6,932 $ 8 $ — $ 6,940 Intersegment revenues 8 24 — 32 17 (49 ) — Total revenues $ 6,577 $ 249 $ 138 $ 6,964 $ 25 $ (49 ) $ 6,940 Segment income (loss) (c) $ 1,385 $ 26 $ 40 $ 1,451 $ (124 ) $ — $ 1,327 Less: Noncontrolling interests 19 Add: Preferred stock dividend 15 Net Income $ 1,323 (a) Electric Utilities and Infrastructure includes $19 million recorded within Impairment charges and $8 million recorded within Operations, maintenance and other on the Duke Energy Carolinas' Condensed Consolidated Statements of Operations related to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case and $8 million recorded within Operations, maintenance and other on Duke Energy Progress' Condensed Consolidated Statements of Operation related to a partial settlement in the Duke Energy Progress' 2019 North Carolina rate case. See Note 3 for more information. Additionally, Electric Utilities and Infrastructure includes $5 million of Impairment charges related to gas pipeline assets recorded on Duke Energy Progress' Condensed Consolidated Statements of Operations. (b) Gas Utilities and Infrastructure includes $78 million recorded within Equity in (losses) earnings of unconsolidated affiliates on the Condensed Consolidated Statements of Operations and $7 million in Impairment charges recorded on the Piedmont Condensed Consolidated Statements of Operations related to gas pipeline investments. (c) Electric Utilities and Infrastructure includes a $25 million reduction of a prior year impairment recorded at Citrus County CC related to the plant's cost cap and is recorded within Impairment charges on Duke Energy Florida's Condensed Consolidated Statements of Operations. Nine Months Ended September 30, 2020 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 16,571 $ 1,122 $ 378 $ 18,071 $ 20 $ — $ 18,091 Intersegment revenues 25 72 — 97 53 (150 ) — Total revenues $ 16,596 $ 1,194 $ 378 $ 18,168 $ 73 $ (150 ) $ 18,091 Segment income (loss) (a)(b)(c) $ 2,839 $ (1,400 ) $ 207 $ 1,646 $ (299 ) $ — $ 1,347 Less: Noncontrolling interests 208 Add: Preferred stock dividend 93 Net Income $ 1,232 Nine Months Ended September 30, 2019 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 17,357 $ 1,239 $ 362 $ 18,958 $ 18 $ — $ 18,976 Intersegment revenues 24 72 — 96 53 (149 ) — Total revenues $ 17,381 $ 1,311 $ 362 $ 19,054 $ 71 $ (149 ) $ 18,976 Segment income (loss) (d) $ 2,944 $ 292 $ 139 $ 3,375 $ (328 ) $ — $ 3,047 Less: Noncontrolling interests 110 Add: Preferred stock dividend 27 Net Income $ 2,964 (a) Electric Utilities and Infrastructure includes $19 million recorded within Impairment charges and $8 million recorded within Operations, maintenance and other on the Duke Energy Carolinas' Condensed Consolidated Statements of Operations related to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case and $8 million recorded within Operations, maintenance and other on Duke Energy Progress' Condensed Consolidated Statements of Operation related to a partial settlement in the Duke Energy Progress' 2019 North Carolina rate case. See Note 3 for more information. Additionally, Electric Utilities and Infrastructure includes $5 million of Impairment charges related to gas pipeline assets recorded on Duke Energy Progress' Condensed Consolidated Statements of Operations. (b) Gas Utilities and Infrastructure includes $2.1 billion recorded within Equity in (losses) earnings of unconsolidated affiliates on the Condensed Consolidated Statements of Operations and $7 million of Impairment charges recorded on the Piedmont Condensed Consolidated Statements of Operations related to gas pipeline investments. See Notes 3 and 12 for additional information. (c) 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 a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case. See Note 3 for additional information. (d) Electric Utilities and Infrastructure includes a $25 million reduction of a prior year impairment recorded at Citrus County CC related to the plant's costs cap and is recorded within Impairment charges on Duke Energy Florida's Condensed Consolidated Statements of Operations. 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 September 30, 2020 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 394 $ 79 $ 473 $ — $ — $ 473 Segment income/Net income $ 63 $ 9 $ 72 $ (2 ) $ — $ 70 Segment assets $ 6,448 $ 3,297 $ 9,745 $ 27 $ (23 ) $ 9,749 Three Months Ended September 30, 2019 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Total Total revenues $ 408 $ 81 $ 489 $ — $ 489 Segment income/Net income $ 62 $ 13 $ 75 $ (1 ) $ 74 Nine Months Ended September 30, 2020 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Total Total revenues $ 1,070 $ 324 $ 1,394 $ — $ 1,394 Segment income/Net (loss) income $ 137 $ 68 $ 205 $ (4 ) $ 201 Nine Months Ended September 30, 2019 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Total Total revenues $ 1,099 $ 354 $ 1,453 $ — $ 1,453 Segment income/Net (loss) income $ 129 $ 65 $ 194 $ (4 ) $ 190 |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 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 declared a state of emergency due to the COVID-19 pandemic. On March 19, 2020, the NCUC issued an order directing that utilities under its jurisdiction suspend disconnections for nonpayment of utility bills during the state of emergency and allow for customers to enter into payment arrangements to pay off arrearages accumulated during the state of emergency after the end of the state of emergency. Additionally, 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 July 29, 2020, the NCUC issued its Order Lifting Disconnection Moratorium and Allowing Collection of Arrearages Pursuant to Special Repayment Plans. The order contained the following: (1) public utilities may resume customer disconnections due to nonpayment for bills first rendered on or after September 1, 2020, after appropriate notice; (2) the late fee moratorium will continue through the end of the state of emergency or until further order of the commission; (3) Duke Energy utilities may reinstate fees for checks returned for insufficient funds as well as transaction fees for use of credit cards or debit cards for bills first rendered on or after September 1, 2020; and (4) no sooner than September 1, 2020, the collection of past-due or delinquent accounts accrued up to and including August 31, 2020, may proceed subject to conditions. Duke Energy Carolinas and Duke Energy Progress resumed normal billing practices as of October 1, 2020, with the exception of the billing of late payment charges. Customers were notified of the resumption of normal billing practices, the option of deferred payment arrangements and where to find assistance, if necessary. Service disconnections for nonpayment for residential customers resumed on November 2, 2020. Duke Energy Carolinas and Duke Energy Progress filed a joint petition on August 7, 2020, with the NCUC for deferral treatment of incremental costs and waived customer fees due to the COVID-19 pandemic. On October 30, 2020, the NCUC issued an order extending deadlines to file comments on the joint petition to November 5, 2020, and reply comments to November 30, 2020. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter. South Carolina On March 13, 2020, Governor Henry McMaster declared 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 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 May 13, 2020, the ORS filed a letter with the PSCSC that included a request from Governor McMaster that utilities proceed with developing and implementing plans for phasing in normal business operations. On May 14, 2020, the PSCSC conditionally vacated the regulation waivers regarding termination of service and suspension of disconnect fees. Prior to termination, utilities are to refer past-due customers to local organizations for assistance and/or deferred payment arrangements. Duke Energy Carolinas and Duke Energy Progress filed a report on June 30, 2020, as required by PSCSC order, reporting revenue impact, costs and savings related to COVID-19 to date. On August 14, 2020, Duke Energy Carolinas and Duke Energy Progress filed a joint petition with the PSCSC for approval of an accounting order to defer incremental COVID-19 related costs incurred through June 30, 2020, and for the ongoing months during the duration of the COVID-19 pandemic. The deferral request did not include lost revenues. Updates on cost impacts were filed on September 30, 2020 , and included financial impacts through the end of August 2020. On October 16, 2020, the ORS requested the PSCSC delay taking formal action on the deferral request until the ORS and any intervenors complete discovery. The PSCSC issued an order on October 21, 2020, to grant additional time to complete discovery until January 20, 2021, and to establish a procedural schedule. On August 17, 2020, Duke Energy Carolinas and Duke Energy Progress filed an update on their planned return to normal operations during the COVID-19 pandemic. Normal billing practices resumed in South Carolina as of October 1, 2020, and service disconnections for nonpayment resumed on October 12, 2020. Customers were notified of the resumption of normal billing practices, the option of payment arrangements and where to find assistance, if necessary. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter. 2020 North Carolina Storm Securitization Filings On October 26, 2020, Duke Energy Carolinas and Duke Energy Progress filed a joint petition with the NCUC, as agreed to in partial settlements reached in the 2019 North Carolina Rate Cases for Duke Energy Carolinas and Duke Energy Progress, seeking authorization for the financing of each utilities’ storm recovery activities required as a result of Hurricane Florence, Hurricane Michael, Hurricane Dorian and Winter Storm Diego. Specifically, Duke Energy Carolinas and Duke Energy Progress requested that the NCUC find that their storm recovery costs and related financing costs are appropriately financed by debt secured by storm recovery property, and that the commission issue financing orders by which each utility may accomplish such financing using a securitization structure. The total revenue requirement over the proposed 15-year bond period for the storm recovery charges is approximately $262 million for Duke Energy Carolinas and $842 million for Duke Energy Progress. The NCUC has until March 10, 2021, to issue financing orders. 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 . On February 28, 2018, Duke Energy Carolinas and the North Carolina Public Staff (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. The North Carolina Attorney General and other parties separately 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. 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 a 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. On June 17, 2020, the NCUC issued an order adopting procedures for the expert witness hearings to take place in three phases: (1) a hearing on issues common to both rate cases conducted remotely; (2) a hearing on Duke Energy Carolinas specific rate case issues, followed immediately by; (3) a hearing on Duke Energy Progress specific rate case issues. On July 24, 2020, Duke Energy Carolinas filed its request for approval of its notice to customers required to implement temporary rates. On July 27, 2020, Duke Energy Carolinas filed a joint motion with Duke Energy Progress and the Public Staff notifying the commission that the parties reached a joint partial settlement with the Public Staff. Also on July 27, 2020, Duke Energy Carolinas filed a letter stating that it intended to update its temporary rates calculation to reflect the terms of the partial settlement. On July 31, 2020, Duke Energy Carolinas and the Public Staff filed a Second Agreement and Stipulation of Partial Settlement (Second Partial Settlement), which is subject to review and approval of the NCUC, resolving certain remaining issues in the base rate proceeding. Major components of the Second Partial Settlement included: • A return on equity of 9.6% and a capital structure of 52% equity and 48% debt; • Agreement on amortization over a five-year period for unprotected federal EDIT flowbacks to customers; • Agreement on the inclusion of plant in service and other revenue requirement updates through May 31, 2020, subject to Public Staff review. Annual revenue requirement associated with the May 31 update is estimated at $45 million ; and • Settlement to allow the deferral of costs for certain grid projects placed in service between June 1, 2020, and December 31, 2022, totaling $0.8 billion . The remaining items litigated at hearing included recovery of deferred coal ash compliance costs that are subject to asset retirement obligation accounting, implementation of new depreciation rates and the amortization period of the loss on the hydro station sale. On August 4, 2020, Duke Energy Carolinas filed an amended motion for approval of its amended notice to customers, seeking to exercise its statutory right to implement temporary rates subject to refund on or after August 24, 2020. The revenue requirement to be recovered, subject to refund, through the temporary rates is based on and consistent with the base rate component of the Second Partial Settlement with the Public Staff and excludes the items to be litigated noted above. Duke Energy Carolinas will not begin the amortization or implementation of these items until a final order is issued in the rate case and new base rates are implemented. These items will also be excluded when determining whether a refund of amounts collected through these temporary rates is needed. In addition, Duke Energy Carolinas also seeks authorization to place a temporary decrement EDIT Rider into effect, concurrent with the temporary base rate change. The temporary rate changes are not final rates and remain subject to the NCUC's determination of the just and reasonable rates to be charged by Duke Energy Carolinas on a permanent basis. The NCUC approved the August 4, 2020 amended temporary rates motion on August 6, 2020, and temporary rates went into effect on August 24, 2020. The Duke Energy Carolinas evidentiary hearing concluded on September 18, 2020, and post-hearing filings were filed with the NCUC from all parties by November 4, 2020. Duke Energy Carolinas expects the NCUC to issue an order on its net rate increase before the end of the first quarter of 2021. 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 . 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 PSCSC 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, which was granted by the Supreme Court of South Carolina on April 30, 2020. Initial briefs were filed on April 21, 2020, which included the South Carolina Energy User's Committee brief arguing that the PSCSC erred in allowing Duke Energy Carolinas' recovery of costs related to the Lee Nuclear Station. Response briefs were filed on July 6, 2020, and reply briefs were filed on August 11, 2020. Oral arguments have not yet been scheduled by the Supreme Court of South Carolina. 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 was subsequently adjusted to $420 million . 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. The Public Staff, the North Carolina Attorney General and the Sierra Club filed notices of appeal to the North Carolina Supreme Court. 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 June 2, 2020, Duke Energy Progress 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; • Agreement that the Asheville CC project is complete and in service and agreement on the amount to be included in rate base; and • Agreement on certain accounting matters, including recovery of employee incentives, severance, aviation costs and executive compensation. 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. On June 17, 2020, the NCUC issued an order adopting procedures for the expert witness hearings to take place in three phases: (1) a hearing on issues common to both rate cases conducted remotely; (2) a hearing on Duke Energy Carolinas specific rate case issues, followed immediately by; (3) a hearing on Duke Energy Progress specific rate case issues. On July 27, 2020, Duke Energy Progress filed a joint motion with Duke Energy Carolinas and the Public Staff notifying the commission that the parties reached a joint partial settlement with the Public Staff. On July 31, 2020, Duke Energy Progress and the Public Staff filed a Second Agreement and Stipulation of Partial Settlement (Second Partial Settlement), which is subject to review and approval of the NCUC, resolving certain remaining issues in the base rate proceeding. Major components of the Second Partial Settlement included: • A return on equity of 9.6% and a capital structure of 52% equity and 48% debt; • Agreement on amortization over a five-year period for unprotected federal EDIT flowbacks to customers; • Agreement on the inclusion of plant in service and other revenue requirement updates through May 31, 2020, subject to Public Staff review. Annual revenue requirement associated with the May 31 update is estimated at $25 million ; and • Settlement to allow the deferral of costs for certain grid projects placed in service between June 1, 2020, and December 31, 2022, of $0.5 billion . The remaining items litigated at hearing included recovery of deferred coal ash compliance costs that are subject to asset retirement obligation accounting and implementation of new depreciation rates. On August 7, 2020, Duke Energy Progress filed a motion for approval of notice required to implement temporary rates , seeking to exercise its statutory right to implement temporary rates subject to refund on or after September 1, 2020. The revenue requirement to be recovered subject to refund through the temporary rates is based on and consistent with the terms of the base rate component of the settlement agreements with the Public Staff and excludes items to be litigated noted above. Duke Energy Progress will not begin the amortization or implementation of these items until a final determination is issued in the rate case and new base rates are implemented. These items will also be excluded when determining whether a refund of amounts collected through these temporary rates is needed. In addition, Duke Energy Progress also seeks authorization to place a temporary decrement EDIT Rider into effect, concurrent with the temporary base rate change. The temporary rate changes are not final rates and remain subject to the NCUC's determination of the just and reasonable rates to be charged by Duke Energy Progress on a permanent basis. The NCUC approved the August 7, 2020 temporary rates motion on August 11, 2020, and temporary rates went into effect on September 1, 2020. The Duke Energy Progress evidentiary hearing concluded on October 6, 2020, and post-hearing filings are due to be filed with the NCUC from all parties by December 4, 2020. Duke Energy Progress expects the NCUC to issue an order on its net rate increase by the end of the first quarter of 2021. 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. Total estimated incremental operation and maintenance expenses incurred to repair and restore the system are approximately $168 million with an additional $4 million in capital investments made for restoration efforts. Approximately $145 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 September 30, 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. Terms of the June 2, 2020, Agreement and Stipulation of Partial Settlement removed incremental storm costs from the general rate case. A petition seeking to securitize these costs, along with costs from Hurricane Florence, Hurricane Michael and Winter Storm Diego, was filed on October 26, 2020, with the NCUC. The NCUC has until March 10, 2021, to issue financing orders. 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. On July 1, 2020, Duke Energy Progress filed a supplemental true up reducing the actual costs to $17 million . 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 . 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 PSCSC 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, which was granted by the Supreme Court of South Carolina on April 30, 2020. Initial briefs were filed on April 21, 2020. Response briefs were filed on July 6, 2020, and reply briefs were filed on August 11, 2020. Oral arguments have not yet been scheduled by the Supreme Court of South Carolina. 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 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 December 27, 2019, Asheville Combined Cycle Unit 5 Combustion Turbine and Unit 6 Steam Turbine Generator and the common systems that serve combined cycle units went into commercial operation. Duke Energy Progress placed the Unit 7 Combustion Turbine 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 June 2, 2020, Duke Energy Progress filed a request with the PSCSC for an accounting order for the deferral of post-in-service costs incurred in connection with the addition of the Asheville combined-cycle generating plant. The petition requested the PSCSC issue an accounting order authorizing Duke Energy Progress to defer post-in-service costs including the Asheville combined-cycle’s depreciation expense, property taxes, incremental O&M and carrying costs at WACC of approximately $8 million annually. On June 17, 2020, the PSCSC voted to approve the petition and issued its final order on July 6, 2020. On October 8, 2018, Duke Energy Progress filed an application |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 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. (in millions) September 30, 2020 December 31, 2019 Reserves for Environmental Remediation Duke Energy $ 66 $ 58 Duke Energy Carolinas 16 11 Progress Energy 15 16 Duke Energy Progress 5 4 Duke Energy Florida 8 9 Duke Energy Ohio 22 19 Duke Energy Indiana 5 4 Piedmont 8 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 $ 56 Duke Energy Carolinas 12 Duke Energy Ohio 38 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 Business 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. Due to COVID-19, the court has issued a new scheduling order and the trial is now scheduled for January 2022. Fact and expert discovery is scheduled to be completed by mid-November 2020. The parties are required to file all dispositive pre-trial motions by December 4, 2020. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter. Duke Energy Carolinas NTE Carolinas II, LLC Litigation In November 2017, Duke Energy Carolinas entered into a standard FERC interconnection agreement with NTE Carolinas II, LLC (NTE), a company that intended to build a combined-cycle natural gas plant in Rockingham County, North Carolina. On September 6, 2019, Duke Energy Carolinas filed a lawsuit in Mecklenburg County Superior Court against NTE for breach of contract and alleging that NTE's failure to pay benchmark payments for Duke Energy Carolinas' transmission system upgrades required under the interconnection agreement constituted a termination of the interconnection agreement. Duke Energy Carolinas is seeking a monetary judgment against NTE because NTE failed to make multiple milestone payments. The lawsuit was moved to federal court in North Carolina. NTE filed a motion to dismiss Duke Energy Carolinas’ complaint and brought counterclaims alleging anti-competitive conduct and violations of state and federal statutes. Duke Energy Carolinas filed a motion to dismiss NTE's counterclaims. On May 21, 2020, FERC issued a decision, in response to an NTE petition, ruling (i) that it has exclusive jurisdiction to determine whether a transmission provider may terminate a Large Generator Interconnection Agreement (LGIA), (ii) FERC approval is required to terminate a conforming LGIA if objected to by the interconnection customer, and (iii) Duke Energy may not announce the termination of a conforming LGIA unless FERC has approved the termination. On May 27, 2020, NTE filed FERC's May 21, 2020, Order as a notice of supplemental authority with the federal district court where its Motion to Dismiss is pending. On June 1, 2020, Duke Energy Carolinas filed a response to NTE’s notice of supplemental authority noting that FERC declined to address the merits of any breach of contract claim relating to the LGIA and that the federal court then necessarily retains exclusive authority to award damages for NTE’s breach. On August 17, 2020, the court denied both NTE’s and Duke Energy Carolinas’ Motion to Dismiss. The parties are now preparing to commence discovery. Duke Energy Carolinas cannot predict the outcome of this matter. 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 September 30, 2020 , there were 159 asserted claims for non-malignant cases with cumulative relief sought of up to $41 million , and 68 asserted claims for malignant cases with cumulative relief sought of up to $23 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 $578 million at September 30, 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 2040 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 2040 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 $714 million in excess of the self-insured retention. Receivables for insurance recoveries were $704 million at September 30, 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 2021. Duke Energy Florida Power Purchase Dispute Arbitration Duke Energy Florida, on behalf of its customers, entered into a PPA for the purchase of firm capacity and energy from a qualifying facility under the Public Utilities Regulatory Policies Act of 1978. Duke Energy Florida determined the qualifying facility did not perform in accordance with the PPA, and Duke Energy Florida terminated the PPA. The qualifying facility counterparty filed a confidential American Arbitration Association (AAA) arbitration demand, challenging the termination of the PPA and seeking damages. Duke Energy Florida denies liability and is vigorously defending the arbitration claim. The final arbitration hearing is scheduled for December 2020. Duke Energy Florida cannot predict the outcome of this matter. 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 denied the motion. The parties are completing discovery and have until December 22, 2020, to file dispositive motions. If these claims survive dispositive motions, a hearing is scheduled for April 2021. Duke Energy Indiana cannot predict the outcome of this matter. See Note 6 for additional information. 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) September 30, 2020 December 31, 2019 Reserves for Legal Matters Duke Energy $ 60 $ 62 Duke Energy Carolinas 2 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 as of September 30, 2020 . 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. Duke Energy has recognized $860 million related to the guarantees of its portion of ACP's outstanding debt of which $95 million was previously recognized due the adoption of new guidance for credit losses effective January 1, 2020. This reserve is included within Other current liabilities on the Condensed Consolidated Balance Sheets at September 30, 2020 . See Notes 1, 3 and 12 for more information. The remaining reserve for credit losses for financial guarantees of $4 million at September 30, 2020 , is included within Other noncurrent liabilities on the Duke Energy's Condensed Consolidated Balance Sheets. 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 | 9 Months Ended |
Sep. 30, 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). Nine Months Ended September 30, 2020 Duke Duke Duke Duke Duke Duke Maturity Interest Duke Energy Energy Energy Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Progress Florida Ohio Indiana Piedmont Unsecured Debt May 2020 (a) Jun 2030 2.450 % $ 500 $ 500 $ — $ — $ — $ — $ — $ — May 2020 (b) Jun 2050 3.350 % 400 — — — — — 400 August 2020 (c) Feb 2022 0.430 % (d) 700 — — 700 — — — — September 2020 (e) Sep 2025 0.900 % 650 650 — — — — — — September 2020 (e) Jun 2030 2.450 % 350 350 — — — — — — First Mortgage Bonds January 2020 (f) Feb 2030 2.450 % 500 — 500 — — — — — January 2020 (f) Aug 2049 3.200 % 400 — 400 — — — — — March 2020 (g) Apr 2050 2.750 % 550 — — — — — 550 — May 2020 (b) Jun 2030 2.125 % 400 — — — — 400 — — June 2020 (b) Jun 2030 1.750 % 500 — — — 500 — — — August 2020 (h) Aug 2050 2.500 % 600 — — 600 — — — — Total issuances $ 5,550 $ 1,500 $ 900 $ 1,300 $ 500 $ 400 $ 550 $ 400 (a) Debt issued to repay $500 million borrowing made under Duke Energy (Parent) revolving credit facility in March 2020, and for general corporate purposes. (b) Debt issued to repay short-term debt and for general corporate purposes. (c) Debt issued to repay $700 million two-year term loan facility expiring in December 2020. (d) Debt issuance has a floating interest rate. (e) Debt issued to repay a portion of outstanding commercial paper, to repay a portion of Duke Energy (Parent)'s outstanding $1.7 billion term loan due March 2021 and for general corporate purposes. (f) Debt issued to repay at maturity $450 million first mortgage bonds due June 2020 and for general corporate purposes. (g) Debt issued to repay at maturity $500 million first mortgage bonds due July 2020 and to pay down short-term debt. (h) Debt issued to repay at maturity $300 million first mortgage bonds due September 2020 and for general corporate purposes. 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 September 30, 2020 Unsecured Debt Progress Energy, Inc January 2021 4.400 % $ 500 Duke Energy (Parent) May 2021 0.765 % (a) 500 Piedmont June 2021 4.240 % 160 Duke Energy (Parent) September 2021 3.550 % 500 Duke Energy (Parent) September 2021 1.800 % 750 Secured Debt Duke Energy Florida April 2021 1.035 % (a) 250 First Mortgage Bonds Duke Energy Carolinas June 2021 3.900 % 500 Duke Energy Florida August 2021 3.100 % 300 Duke Energy Progress September 2021 3.000 % 500 Duke Energy Progress September 2021 8.625 % 100 Other (b) 609 Current maturities of long-term debt $ 4,669 (a) Debt 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. The table below includes the current borrowing sublimits and available capacity under these credit facilities. September 30, 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 $ 1,475 $ 1,250 $ 800 $ 625 $ 600 $ 600 Reduction to backstop issuances Commercial paper (b) (2,007 ) (693 ) (300 ) (308 ) (62 ) (106 ) (229 ) (309 ) Outstanding letters of credit (40 ) (34 ) (4 ) (2 ) — — — — Tax-exempt bonds (81 ) — — — — — (81 ) — Available capacity under the Master Credit Facility $ 5,872 $ 1,923 $ 1,171 $ 940 $ 738 $ 519 $ 290 $ 291 (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. Term Loan Facility In response to market volatility and ongoing liquidity impacts from COVID-19, in March 2020, Duke Energy (Parent) entered into a $1.5 billion , 364-day Term Loan Credit Agreement, borrowing the full $1.5 billion available on March 19, 2020. The term loan contains a provision for increasing the amount available for borrowing by up to $500 million . Duke Energy (Parent) exercised this provision on March 27, 2020, borrowing an additional $188 million . Proceeds were used to reduce outstanding commercial paper and for general corporate purposes. In the third quarter of 2020, Duke Energy (Parent) repaid $844 million of the loan. Refer to Note 1 for additional information on the COVID-19 pandemic. Other Credit Facilities September 30, 2020 (in millions) Facility size Amount drawn Duke Energy (Parent) Three-Year Revolving Credit Facility $ 1,000 $ 500 In August 2020, Duke Energy Progress repaid its $700 million |
Asset Retirement Obligations
Asset Retirement Obligations | 9 Months Ended |
Sep. 30, 2020 | |
Asset Retirement Obligation [Abstract] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS The Duke Energy Registrants record AROs when there is a legal obligation to incur retirement costs associated with the retirement of a long-lived asset and the obligation can be reasonably estimated. Actual costs incurred could be materially different from current estimates that form the basis of the recorded AROs. The following table presents the AROs recorded on the Condensed Consolidated Balance Sheets. September 30, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Decommissioning of nuclear power facilities (a) $ 6,815 $ 2,658 $ 4,107 $ 3,606 $ 501 $ — $ — $ — Closure of ash impoundments 6,458 3,049 2,172 2,150 22 51 1,186 — Other 381 67 76 44 32 40 28 17 Total ARO $ 13,654 $ 5,774 $ 6,355 $ 5,800 $ 555 $ 91 $ 1,214 $ 17 Less: Current portion 742 267 297 297 — 7 170 — Total noncurrent ARO $ 12,912 $ 5,507 $ 6,058 $ 5,503 $ 555 $ 84 $ 1,044 $ 17 (a) Duke Energy amount includes purchase accounting adjustments related to the merger with Progress Energy. ARO Liability Rollforward The following table presents the change in liability associated with AROs for the Duke Energy Registrants. 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 (a) $ 13,318 $ 5,734 $ 6,471 $ 5,893 $ 578 $ 80 $ 832 $ 17 Accretion expense (b) 408 195 187 171 16 3 22 — Liabilities settled (c) (540 ) (151 ) (333 ) (293 ) (40 ) (1 ) (56 ) — Liabilities incurred in the current year 17 — — — — — — — Revisions in estimates of cash flows (d) 451 (4 ) 30 29 1 9 416 — Balance at September 30, 2020 $ 13,654 $ 5,774 $ 6,355 $ 5,800 $ 555 $ 91 $ 1,214 $ 17 (a) Primarily relates to decommissioning nuclear power facilities, closure of ash impoundments, asbestos removal, closure of landfills at fossil generation facilities, retirement of natural gas mains and removal of renewable energy generation assets. (b) For the nine months ended September 30, 2020 , substantially all accretion expense relates to Duke Energy's regulated operations and has been deferred in accordance with regulatory accounting treatment. (c) Primarily relates to ash impoundment closures. (d) Primarily relates to increases in closure estimates for certain ash impoundments as a result of certain changes in estimates and the impact of Hoosier Environmental Council’s petition filed with the court challenging the Indiana Department of Environmental Management’s partial approval of Duke Energy Indiana’s ash pond closure plan, new closure plan approvals, as well as increased post closure maintenance, landfill and beneficiation costs. See Note 4 for more information on Hoosier Environmental Council's petition. The incremental amount recorded represents the discounted cash flows for estimated closure costs based upon the probability weightings of the potential closure methods as evaluated on a site-by-site basis. |
Goodwill
Goodwill | 9 Months Ended |
Sep. 30, 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 September 30, 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 September 30, 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. Impairment Testing Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont are required to perform an annual goodwill impairment test as of the same date each year and, accordingly, perform their annual impairment testing of goodwill as of August 31. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont update their test between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. As the fair value for Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont exceeded their respective carrying values at the date of the annual impairment analysis, no goodwill impairment charges were recorded in the third quarter of 2020. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 198 $ 197 $ 528 $ 606 Indemnification coverages (b) 5 5 15 15 Joint Dispatch Agreement (JDA) revenue (c) 6 12 16 52 JDA expense (c) 28 32 72 145 Intercompany natural gas purchases (d) 10 — 26 7 Progress Energy Corporate governance and shared service expenses (a) $ 185 $ 194 $ 520 $ 553 Indemnification coverages (b) 9 8 27 27 JDA revenue (c) 28 32 72 145 JDA expense (c) 6 12 16 52 Intercompany natural gas purchases (d) 18 19 56 57 Duke Energy Progress Corporate governance and shared service expenses (a) $ 113 $ 114 $ 301 $ 328 Indemnification coverages (b) 4 3 13 11 JDA revenue (c) 28 32 72 145 JDA expense (c) 6 12 16 52 Intercompany natural gas purchases (d) 18 19 56 57 Duke Energy Florida Corporate governance and shared service expenses (a) $ 72 $ 80 $ 219 $ 225 Indemnification coverages (b) 5 5 14 16 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 80 $ 90 $ 241 $ 258 Indemnification coverages (b) 1 1 3 3 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 102 $ 109 $ 300 $ 299 Indemnification coverages (b) 2 2 6 5 Piedmont Corporate governance and shared service expenses (a) $ 31 $ 33 $ 102 $ 102 Indemnification coverages (b) 1 1 2 2 Intercompany natural gas sales (d) 28 19 82 64 Natural gas storage and transportation costs (e) 6 6 17 17 (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 12 , 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 September 30, 2020 Intercompany income tax receivable $ — $ — $ — $ — $ — $ — $ 14 Intercompany income tax payable 206 49 104 98 6 56 — December 31, 2019 Intercompany income tax receivable $ — $ 125 $ 28 $ — $ 9 $ 28 $ 13 Intercompany income tax payable 5 — — 2 — — — |
Derivatives and Hedging
Derivatives and Hedging | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30, 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 segment 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. September 30, 2020 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges $ 653 $ — $ — $ — $ — $ — Undesignated contracts 1,177 400 750 750 — 27 Total notional amount (a) $ 1,830 $ 400 $ 750 $ 750 $ — $ 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 $653 million in cash flow hedges as of September 30, 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 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. To manage risk associated with commodity prices, the Duke Energy Registrants may enter into long-term power purchase or sales contracts and long-term natural gas supply agreements. Cash Flow Hedges For derivatives designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, 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. Gains and losses reclassified out of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2020 , and 2019 , were not material. Duke Energy’s commodity derivatives designated as hedges include long-term electricity sales in the Commercial Renewables segment. Undesignated Contracts For the Subsidiary Registrants, bulk power electricity 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. September 30, 2020 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Carolinas Energy Progress Ohio Indiana Piedmont Electricity (GWh) (a) 32,314 — — — 4,126 17,072 — Natural gas (millions of dekatherms) 683 143 156 156 — 2 382 December 31, 2019 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Carolinas Energy Progress Ohio Indiana Piedmont Electricity (GWh) 15,858 — — — 1,887 13,971 — Natural gas (millions of dekatherms) 704 130 160 160 — 3 411 (a) Duke Energy includes 11,116 GWh that relates to cash flow hedges. 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 September 30, 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 $ 57 $ 24 $ 18 $ 18 $ — $ 2 $ 8 $ 6 Noncurrent 26 14 12 12 — — — — Total Derivative Assets – Commodity Contracts $ 83 $ 38 $ 30 $ 30 $ — $ 2 $ 8 $ 6 Interest Rate Contracts Not Designated as Hedging Instruments Current $ 3 $ — $ 3 $ 3 $ — $ — $ — $ — Noncurrent — — — — — — — — Total Derivative Assets – Interest Rate Contracts $ 3 $ — $ 3 $ 3 $ — $ — $ — $ — Total Derivative Assets $ 86 $ 38 $ 33 $ 33 $ — $ 2 $ 8 $ 6 Derivative Liabilities September 30, 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 Designated as Hedging Instruments Current $ 17 $ — $ — $ — $ — $ — $ — — Noncurrent 85 — — — — — — — Not Designated as Hedging Instruments Current $ 26 $ 12 $ — $ — $ — $ 1 $ — $ 13 Noncurrent 129 4 27 11 — — — 98 Total Derivative Liabilities – Commodity Contracts $ 257 $ 16 $ 27 $ 11 $ — $ 1 $ — $ 111 Interest Rate Contracts Designated as Hedging Instruments Current $ 14 $ — $ — $ — $ — $ — $ — $ — Noncurrent 56 — — — — — — — Not Designated as Hedging Instruments Current 27 17 9 9 — 1 — — Noncurrent 5 — — — — 5 — — Total Derivative Liabilities – Interest Rate Contracts $ 102 $ 17 $ 9 $ 9 $ — $ 6 $ — $ — Total Derivative Liabilities $ 359 $ 33 $ 36 $ 20 $ — $ 7 $ — $ 111 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 September 30, 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 $ 60 $ 24 $ 21 $ 21 $ — $ 2 $ 8 $ 6 Gross amounts offset (1 ) — — — — — — — Net amounts presented in Current Assets: Other $ 59 $ 24 $ 21 $ 21 $ — $ 2 $ 8 $ 6 Noncurrent Gross amounts recognized $ 26 $ 14 $ 12 $ 12 $ — $ — $ — $ — Gross amounts offset (8 ) — (8 ) (8 ) — — — — Net amounts presented in Other Noncurrent Assets: Other $ 18 $ 14 $ 4 $ 4 $ — $ — $ — $ — Derivative Liabilities September 30, 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 $ 84 $ 29 $ 9 $ 9 $ — $ 2 $ — $ 13 Gross amounts offset (1 ) — — — — — — — Net amounts presented in Current Liabilities: Other $ 83 $ 29 $ 9 $ 9 $ — $ 2 $ — $ 13 Noncurrent Gross amounts recognized $ 275 $ 4 $ 27 $ 11 $ — $ 5 $ — $ 98 Gross amounts offset (8 ) — (8 ) (8 ) — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 267 $ 4 $ 19 $ 3 $ — $ 5 $ — $ 98 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. September 30, 2020 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 20 $ 9 $ 11 $ 11 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 20 9 11 11 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 | 9 Months Ended |
Sep. 30, 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 investment manager agreements and 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 a credit loss exists, the unrealized credit loss is included in earnings. There were no material credit losses as of September 30, 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. September 30, 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 $ — $ — $ 687 $ — $ — $ 101 Equity securities 3,436 103 5,459 3,523 55 5,661 Corporate debt securities 65 1 789 37 1 603 Municipal bonds 19 1 407 13 — 368 U.S. government bonds 58 — 843 33 1 1,256 Other debt securities 9 — 185 3 — 141 Total NDTF Investments $ 3,587 $ 105 $ 8,370 $ 3,609 $ 57 $ 8,130 Other Investments Cash and cash equivalents $ — $ — $ 110 $ — $ — $ 52 Equity securities 60 — 126 57 — 122 Corporate debt securities 8 — 129 3 — 67 Municipal bonds 6 1 114 4 — 94 U.S. government bonds 1 — 21 2 — 41 Other debt securities — — 44 — — 56 Total Other Investments $ 75 $ 1 $ 544 $ 66 $ — $ 432 Total Investments $ 3,662 $ 106 $ 8,914 $ 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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ 13 $ 60 $ 338 $ 161 Realized losses 16 43 148 136 AFS: Realized gains 26 53 73 110 Realized losses 19 36 38 83 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. September 30, 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 $ — $ — $ 42 $ — $ — $ 21 Equity securities 2,027 52 3,229 1,914 8 3,154 Corporate debt securities 42 1 507 21 1 361 Municipal bonds 5 — 118 3 — 96 U.S. government bonds 28 — 428 16 1 578 Other debt securities 7 — 179 3 — 137 Total NDTF Investments $ 2,109 $ 53 $ 4,503 $ 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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ 10 $ 34 $ 46 $ 101 Realized losses 12 26 82 95 AFS: Realized gains 20 21 50 46 Realized losses 17 13 30 34 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. September 30, 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 $ — $ — $ 645 $ — $ — $ 80 Equity securities 1,409 51 2,230 1,609 47 2,507 Corporate debt securities 23 — 282 16 — 242 Municipal bonds 14 1 289 10 — 272 U.S. government bonds 30 — 415 17 — 678 Other debt securities 2 — 6 — — 4 Total NDTF Investments $ 1,478 $ 52 $ 3,867 $ 1,652 $ 47 $ 3,783 Other Investments Cash and cash equivalents $ — $ — $ 107 $ — $ — $ 49 Municipal bonds 4 — 53 3 — 51 Total Other Investments $ 4 $ — $ 160 $ 3 $ — $ 100 Total Investments $ 1,482 $ 52 $ 4,027 $ 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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ 3 $ 26 $ 292 $ 60 Realized losses 4 17 66 41 AFS: Realized gains 6 31 17 62 Realized losses 2 23 7 49 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. September 30, 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 $ — $ — $ 57 $ — $ — $ 53 Equity securities 1,340 51 2,150 1,258 21 2,077 Corporate debt securities 23 — 282 16 — 242 Municipal bonds 14 1 289 10 — 272 U.S. government bonds 30 — 415 16 — 403 Other debt securities 2 — 6 — — 4 Total NDTF Investments $ 1,409 $ 52 $ 3,199 $ 1,300 $ 21 $ 3,051 Other Investments Cash and cash equivalents $ — $ — $ 1 $ — $ — $ 2 Total Other Investments $ — $ — $ 1 $ — $ — $ 2 Total Investments $ 1,409 $ 52 $ 3,200 $ 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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ 3 $ 10 $ 43 $ 27 Realized losses 4 9 51 24 AFS: Realized gains 6 2 17 4 Realized losses 2 — 7 2 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. September 30, 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 $ — $ — $ 588 $ — $ — $ 27 Equity securities 69 — 80 351 26 430 U.S. government bonds — — — 1 — 275 Total NDTF Investments (a) $ 69 $ — $ 668 $ 352 $ 26 $ 732 Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ 4 Municipal bonds 4 — 53 3 — 51 Total Other Investments $ 4 $ — $ 55 $ 3 $ — $ 55 Total Investments $ 73 $ — $ 723 $ 355 $ 26 $ 787 (a) During the nine months ended September 30, 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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ — $ 16 $ 249 $ 33 Realized losses — 8 15 17 AFS: Realized gains — 29 — 58 Realized losses — 23 — 47 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. September 30, 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 Cash and cash equivalents $ — $ — $ 1 $ — $ — $ — Equity securities 45 — 84 43 — 81 Corporate debt securities — — 3 — — 6 Municipal bonds 1 1 39 1 — 36 U.S. government bonds — — 3 — — 2 Total Investments $ 46 $ 1 $ 130 $ 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 and nine months ended September 30, 2020 , and 2019 , were immaterial. DEBT SECURITY MATURITIES The table below summarizes the maturity date for debt securities. September 30, 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 $ 53 $ 13 $ 15 $ 14 $ 1 $ 4 Due after one through five years 558 247 256 246 10 16 Due after five through 10 years 608 278 232 224 8 9 Due after 10 years 1,313 694 542 508 34 16 Total $ 2,532 $ 1,232 $ 1,045 $ 992 $ 53 $ 45 |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 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 9 . See Note 10 for additional information related to investments by major security type for the Duke Energy Registrants. September 30, 2020 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF cash and cash equivalents $ 687 $ 687 $ — $ — $ — NDTF equity securities 5,459 5,413 — — 46 NDTF debt securities 2,224 363 1,861 — — Other equity securities 126 126 — — — Other debt securities 308 18 290 — — Other cash and cash equivalents 110 110 — — — Derivative assets 86 5 71 10 — Total assets 9,000 6,722 2,222 10 46 Derivative liabilities (359 ) (1 ) (145 ) (213 ) — Net assets (liabilities) $ 8,641 $ 6,721 $ 2,077 $ (203 ) $ 46 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF cash and cash equivalents $ 101 $ 101 $ — $ — $ — NDTF equity securities 5,684 5,633 — — 51 NDTF debt securities 2,368 725 1,643 — — Other equity securities 122 122 — — — Other debt securities 258 39 219 — — Other cash and cash equivalents 52 52 — — — 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 September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Balance at beginning of period $ (92 ) $ (79 ) $ (102 ) $ (113 ) Total pretax realized or unrealized gains included in comprehensive income (102 ) — (102 ) — Purchases, sales, issuances and settlements: Purchases — — 14 38 Settlements (3 ) (9 ) (18 ) (32 ) Total (losses) gains included on the Condensed Consolidated Balance Sheet (6 ) (2 ) 5 17 Balance at end of period $ (203 ) $ (90 ) $ (203 ) $ (90 ) 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. September 30, 2020 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF cash and cash equivalents $ 42 $ 42 $ — $ — NDTF equity securities 3,229 3,183 — 46 NDTF debt securities 1,232 131 1,101 — Derivative assets 38 — 38 — Total assets 4,541 3,356 1,139 46 Derivative liabilities (33 ) — (33 ) — Net assets $ 4,508 $ 3,356 $ 1,106 $ 46 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF cash and cash equivalents $ 21 $ 21 $ — $ — NDTF equity securities 3,154 3,103 — 51 NDTF debt securities 1,172 206 966 — 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. September 30, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF cash and cash equivalents $ 645 $ 645 $ — $ 80 $ 80 $ — NDTF equity securities 2,230 2,230 — 2,530 2,530 — NDTF debt securities 992 232 760 1,196 519 677 Other debt securities 53 — 53 51 — 51 Other cash and cash equivalents 107 107 — 49 49 — Derivative assets 33 — 33 7 — 7 Total assets 4,060 3,214 846 3,913 3,178 735 NDTF equity security contracts — — — (23 ) — (23 ) Derivative liabilities (36 ) — (36 ) (65 ) — (65 ) Net assets $ 4,024 $ 3,214 $ 810 $ 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. September 30, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NTDF cash and cash equivalents $ 57 $ 57 $ — $ 53 $ 53 $ — NDTF equity securities 2,150 2,150 — 2,077 2,077 — NDTF debt securities 992 232 760 921 244 677 Other cash and cash equivalents 1 1 — 2 2 — Derivative assets 33 — 33 — — — Total assets 3,233 2,440 793 3,053 2,376 677 Derivative liabilities (20 ) — (20 ) (49 ) — (49 ) Net assets $ 3,213 $ 2,440 $ 773 $ 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. September 30, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF cash and cash equivalents $ 588 $ 588 $ — $ 27 $ 27 $ — NDTF equity securities 80 80 — 453 453 — NDTF debt securities — — — 275 275 — Other debt securities 53 — 53 51 — 51 Other cash and cash equivalents 2 2 — 4 4 — Derivative assets — — — 7 — 7 Total assets 723 670 53 817 759 58 NDTF equity security contracts — — — (23 ) — (23 ) Derivative liabilities — — — (1 ) — (1 ) Net assets $ 723 $ 670 $ 53 $ 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 September 30, 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. September 30, 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 $ 84 $ 84 $ — $ — $ 81 $ 81 $ — $ — Other debt securities 45 — 45 — 44 — 44 — Other cash and cash equivalents 1 1 — — — — — — Derivative assets 8 — — 8 13 2 — 11 Total assets $ 138 $ 85 $ 45 $ 8 $ 138 $ 83 $ 44 $ 11 Derivative liabilities — — — — (1 ) (1 ) — — Net assets $ 138 $ 85 $ 45 $ 8 $ 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 September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Balance at beginning of period $ 10 $ 28 $ 11 $ 22 Purchases, sales, issuances and settlements: Purchases — — 10 29 Settlements (3 ) (7 ) (13 ) (26 ) Total gains (losses) included on the Condensed Consolidated Balance Sheet 1 (5 ) — (9 ) Balance at end of period $ 8 $ 16 $ 8 $ 16 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. September 30, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 3 Total Fair Value Level 1 Level 3 Derivative assets $ 6 $ 6 $ — $ 1 $ 1 $ — Derivative liabilities (111 ) — (111 ) (117 ) — (117 ) Net (liabilities) assets $ (105 ) $ 6 $ (111 ) $ (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 September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Balance at beginning of period $ (105 ) $ (114 ) $ (117 ) $ (141 ) Total (losses) gains and settlements (6 ) 3 6 30 Balance at end of period $ (111 ) $ (111 ) $ (111 ) $ (111 ) QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. September 30, 2020 Weighted Fair Value Average Investment Type (in millions) Valuation Technique Unobservable Input Range Range Duke Energy Electricity contracts $ (102 ) RTO forward pricing Forward electricity curves – price per MWh $ 14.92 - $ 151.18 $ 29.63 Duke Energy Ohio FTRs 2 RTO auction pricing FTR price – per MWh — - 1.90 0.64 Duke Energy Indiana FTRs 8 RTO auction pricing FTR price – per MWh (1.03 ) - 6.10 0.74 Piedmont Natural gas contracts (111 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.81 - 2.50 2.11 Duke Energy Total Level 3 derivatives $ (203 ) 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. September 30, 2020 December 31, 2019 (in millions) Book Value Fair Value Book Value Fair Value Duke Energy (a) $ 60,718 $ 69,503 $ 58,126 $ 63,062 Duke Energy Carolinas 12,548 15,165 11,900 13,516 Progress Energy 19,865 23,825 19,634 22,291 Duke Energy Progress 9,358 10,808 9,058 9,934 Duke Energy Florida 7,917 9,684 7,987 9,131 Duke Energy Ohio 3,089 3,619 2,619 2,964 Duke Energy Indiana 4,104 5,140 4,057 4,800 Piedmont 2,780 3,276 2,384 2,642 (a) Book value of long-term debt includes $1.4 billion at September 30, 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 September 30, 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 | 9 Months Ended |
Sep. 30, 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 nine months ended September 30, 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, which generally exclude receivables past due more than a predetermined number of days and reserves for expected past-due balances. The sole source of funds to satisfy the related debt obligations is cash collections from the receivables. Amounts borrowed under the credit facilities for DERF and DEPR are reflected on the Condensed Consolidated Balance Sheets as Long-Term Debt. Amounts borrowed under the credit facilities for DEFR are reflected on the Condensed Consolidated Balance Sheets as Current maturities of long-term debt. Due to the COVID-19 pandemic, as described in Note 1, the Duke Energy Registrants suspended customer disconnections for nonpayment. Since taking action to suspend customer disconnections for nonpayment, certain jurisdictions have now returned to normal operations and billing practices. The full impact of COVID-19 and the Duke Energy Registrant’s related response on customers’ ability to pay for service is uncertain. However, the level of past-due receivables at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida have increased significantly during the COVID-19 pandemic, and it is reasonably possible eventual write-offs of customer receivables may increase over current estimates. In the second quarter of 2020, DERF, DEPR and DEFR executed amendments to their credit facilities to manage the impact of past-due receivables resulting from the suspension of customer disconnections from COVID-19. In the third quarter of 2020, DERF executed another amendment to lengthen the terms of the amendment executed in the second quarter. See Note 3 for information about COVID-19 filings with state utility commissions. The most significant activity that impacts the economic performance of DERF, DEPR and DEFR are the decisions made to manage delinquent receivables. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are considered the primary beneficiaries and consolidate DERF, DEPR and DEFR, respectively, as they make those decisions. Receivables Financing – CRC CRC is a bankruptcy remote, special purpose entity indirectly owned by Duke Energy. On a revolving basis, CRC buys certain accounts receivable arising from the sale of electricity, natural gas and related services from Duke Energy Ohio and Duke Energy Indiana. CRC borrows amounts under a credit facility to buy the receivables from Duke Energy Ohio and Duke Energy Indiana. Borrowing availability from the credit facility is limited to the amount of qualified receivables sold to CRC, which generally exclude receivables past due more than a predetermined number of days and reserves for expected past-due balances. 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 . Due to the COVID-19 pandemic, as described in Note 1, the Duke Energy Registrants suspended customer disconnections for nonpayment. Since taking action to suspend customer disconnections for nonpayment, certain jurisdictions have now returned to normal operations and billing practices. The full impact of COVID-19 and the Duke Energy Registrant’s related response on customers’ ability to pay for service is uncertain. However, the level of past-due receivables at Duke Energy Ohio and Duke Energy Indiana have increased significantly during the COVID-19 pandemic, and it is reasonably possible eventual write-offs of customer receivables may increase over current estimates. In July of 2020, CRC executed an amendment to its credit facility to manage the impact of past-due receivables resulting from the suspension of customer disconnections from COVID-19. See Note 3 for information about COVID-19 filings with state utility commissions. CRC is considered a VIE because (i) equity capitalization is insufficient to support its operations, (ii) power to direct the activities that most significantly impact the economic performance of the entity is not held by the equity holder and (iii) deficiencies in net worth of CRC are funded by Duke Energy. The most significant activities that impact the economic performance of CRC are decisions made to manage delinquent receivables. Duke Energy is considered the primary beneficiary and consolidates CRC as it makes these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidate CRC. Receivables Financing – Credit Facilities The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above. Duke Energy Duke Energy Duke Energy Duke Energy Carolinas Progress Florida (in millions) CRC DERF DEPR DEFR Expiration date February 2023 December 2022 April 2023 April 2021 Credit facility amount $ 350 $ 475 $ 350 $ 250 Amounts borrowed at September 30, 2020 350 475 350 250 Amounts borrowed at December 31, 2019 350 474 325 250 Restricted Receivables at September 30, 2020 479 770 559 506 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) September 30, 2020 December 31, 2019 Receivables of VIEs $ 6 $ 5 Regulatory Assets: Current 53 52 Current Assets: Other 16 39 Other Noncurrent Assets: Regulatory assets 951 989 Current Liabilities: Other 2 10 Current maturities of long-term debt 55 54 Long-Term Debt 1,001 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) September 30, 2020 December 31, 2019 Current Assets: Other $ 319 $ 203 Property, Plant and Equipment: Cost 6,239 5,747 Accumulated depreciation and amortization (1,200 ) (1,041 ) Other Noncurrent Assets: Other 79 106 Current maturities of long-term debt 161 162 Long-Term Debt 1,452 1,541 Other Noncurrent Liabilities: AROs 150 127 Other Noncurrent Liabilities: Other 342 228 NON-CONSOLIDATED VIEs The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets. September 30, 2020 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs Total Ohio Indiana Receivables from affiliated companies $ — $ (1 ) $ — $ (1 ) $ 45 $ 74 Other current assets 413 — — 413 — $ — Investments in equity method unconsolidated affiliates — 487 1 488 — — Deferred tax asset 26 — — 26 — — Total assets $ 439 $ 486 $ 1 $ 926 $ 45 $ 74 Other current liabilities 927 — 3 930 — — Other noncurrent liabilities 19 — 10 29 — — Total liabilities $ 946 $ — $ 13 $ 959 $ — $ — Net (liabilities) assets $ (507 ) $ 486 $ (12 ) $ (33 ) $ 45 $ 74 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 future exit costs associated with the cancellation of the ACP pipeline, as discussed below. Pipeline Investments Duke Energy has investments in various joint ventures to construct and operate pipeline projects. 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. On July 5, 2020, Duke Energy determined that it would no longer invest in the construction of the ACP pipeline. See Notes 1, 3 and 4 for further information regarding this transaction. For the three and nine months ended September 30, 2020 , the ACP investment is considered a significant subsidiary because its income (loss) exceeds 10% of Duke Energy’s income (loss). The table below presents unaudited summarized financial information for ACP. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Net (Loss) Income $ (163 ) $ 65 $ (4,505 ) $ 178 The table below presents Duke Energy's ownership interest and investment balances in these joint ventures. VIE Investment Amount (in millions) Ownership September 30, December 31, Entity Name Interest 2020 2019 ACP (a) 47 % $ (927 ) $ 1,179 Constitution (b) 24 % — — Total $ (927 ) $ 1,179 (a) During the quarter ended June 30, 2020, Duke Energy determined that it would no longer continue its investment in ACP as described above. The current liability related to the cancellation of the ACP pipeline project represents Duke Energy's continuing obligation to fund its share of ACP's obligations. See Notes 1, 3 and 4 for more information. (b) During the year ended December 31, 2019, Duke Energy recorded an other-than-temporary impairment 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. Other 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. In July 2020, legislation was proposed to repeal HB 6. Duke Energy cannot predict the outcome in this matter. 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) September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Receivables sold $ 226 $ 253 $ 310 $ 307 Less: Retained interests 45 64 74 77 Net receivables sold $ 181 $ 189 $ 236 $ 230 The following table shows sales and cash flows related to receivables sold. Duke Energy Ohio Duke Energy Indiana Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Sales Receivables sold $ 462 $ 479 $ 1,428 $ 1,483 $ 717 $ 762 $ 1,947 $ 2,172 Loss recognized on sale 2 4 8 11 3 4 9 13 Cash flows Cash proceeds from receivables sold $ 449 $ 471 $ 1,439 $ 1,516 $ 689 $ 762 $ 1,941 $ 2,200 Collection fees received 1 — 1 1 — — 1 1 Return received on retained interests 1 1 3 5 1 2 4 7 Cash flows from sales of receivables are reflected within Cash Flows From Operating Activities on Duke Energy Ohio’s and Duke Energy Indiana’s Condensed Consolidated Statements of Cash Flows. |
Revenue
Revenue | 9 Months Ended |
Sep. 30, 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 $ 30 $ 92 $ 94 $ 44 $ 45 $ 58 $ 363 Duke Energy Progress 2 8 8 8 8 — 34 Duke Energy Florida 28 84 86 36 37 58 329 Duke Energy Indiana 2 5 — 7 12 36 62 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 $ 17 $ 65 $ 64 $ 61 $ 58 $ 377 $ 642 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 September 30, 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 $ 2,936 $ 883 $ 1,550 $ 616 $ 934 $ 213 $ 289 $ — General 1,804 664 805 384 421 119 212 — Industrial 797 342 245 179 66 35 175 — Wholesale 603 117 412 358 54 10 64 — Other revenues 238 62 167 75 92 23 22 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 6,378 $ 2,068 $ 3,179 $ 1,612 $ 1,567 $ 400 $ 762 $ — Gas Utilities and Infrastructure Residential $ 112 $ — $ — $ — $ — $ 55 $ — $ 57 Commercial 64 — — — — 20 — 44 Industrial 24 — — — — 3 — 22 Power Generation — — — — — — — 10 Other revenues 16 — — — — 3 — 11 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 216 $ — $ — $ — $ — $ 81 $ — $ 144 Commercial Renewables Revenue from contracts with customers $ 57 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 7 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 6,658 $ 2,068 $ 3,179 $ 1,612 $ 1,567 $ 481 $ 762 $ 144 Other revenue sources (a) $ 63 $ (10 ) $ 18 $ 14 $ — $ (8 ) $ (1 ) $ 18 Total revenues $ 6,721 $ 2,058 $ 3,197 $ 1,626 $ 1,567 $ 473 $ 761 $ 162 (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 September 30, 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 $ 2,923 $ 892 $ 1,522 $ 625 $ 897 $ 215 $ 294 $ — General 1,885 687 843 399 444 127 225 — Industrial 869 372 255 189 66 40 204 — Wholesale 617 113 429 368 61 13 63 — Other revenues 198 76 118 70 48 18 22 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 6,492 $ 2,140 $ 3,167 $ 1,651 $ 1,516 $ 413 $ 808 $ — Gas Utilities and Infrastructure Residential $ 113 $ — $ — $ — $ — $ 53 $ — $ 59 Commercial 68 — — — — 21 — 47 Industrial 26 — — — — 4 — 25 Power Generation — — — — — — — 13 Other revenues 16 — — — — 3 — 13 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 223 $ — $ — $ — $ — $ 81 $ — $ 157 Commercial Renewables Revenue from contracts with customers $ 69 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 8 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 6,792 $ 2,140 $ 3,167 $ 1,651 $ 1,516 $ 494 $ 808 $ 157 Other revenue sources (a) $ 148 $ 22 $ 75 $ 37 $ 32 $ (5 ) $ (1 ) $ 11 Total revenues $ 6,940 $ 2,162 $ 3,242 $ 1,688 $ 1,548 $ 489 $ 807 $ 168 (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. Nine Months Ended September 30, 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 $ 7,451 $ 2,316 $ 3,792 $ 1,578 $ 2,214 $ 558 $ 785 $ — General 4,691 1,720 2,080 1,001 1,079 336 554 — Industrial 2,148 871 673 487 186 103 502 — Wholesale 1,535 332 1,018 877 141 22 163 — Other revenues 713 184 476 208 268 62 63 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 16,538 $ 5,423 $ 8,039 $ 4,151 $ 3,888 $ 1,081 $ 2,067 $ — Gas Utilities and Infrastructure Residential $ 631 $ — $ — $ — $ — $ 214 $ — $ 417 Commercial 308 — — — — 86 — 222 Industrial 92 — — — — 12 — 80 Power Generation — — — — — — — 27 Other revenues 58 — — — — 12 — 46 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 1,089 $ — $ — $ — $ — $ 324 $ — $ 792 Commercial Renewables Revenue from contracts with customers $ 170 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 20 $ — $ — $ — $ — $ — $ — $ — Total Revenue from contracts with customers $ 17,817 $ 5,423 $ 8,039 $ 4,151 $ 3,888 $ 1,405 $ 2,067 $ 792 Other revenue sources (a) $ 274 $ (7 ) $ 78 $ 56 $ 9 $ (11 ) $ 3 $ 79 Total revenues $ 18,091 $ 5,416 $ 8,117 $ 4,207 $ 3,897 $ 1,394 $ 2,070 $ 871 (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. Nine Months Ended September 30, 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 $ 7,597 $ 2,331 $ 3,879 $ 1,657 $ 2,222 $ 563 $ 825 $ — General 4,896 1,714 2,225 1,044 1,181 335 619 — Industrial 2,339 927 708 514 194 109 595 — Wholesale 1,685 341 1,133 992 141 36 176 — Other revenues 557 222 389 239 150 59 66 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 17,074 $ 5,535 $ 8,334 $ 4,446 $ 3,888 $ 1,102 $ 2,281 $ — Gas Utilities and Infrastructure Residential $ 673 $ — $ — $ — $ — $ 229 $ — $ 443 Commercial 359 — — — — 96 — 263 Industrial 103 — — — — 14 — 91 Power Generation — — — — — — — 39 Other revenues 101 — — — — 13 — 88 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 1,236 $ — $ — $ — $ — $ 352 $ — $ 924 Commercial Renewables Revenue from contracts with customers $ 157 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 18 $ — $ — $ — $ — $ — $ — $ — Total Revenue from contracts with customers $ 18,485 $ 5,535 $ 8,334 $ 4,446 $ 3,888 $ 1,454 $ 2,281 $ 924 Other revenue sources (a) $ 491 $ 84 $ 224 $ 113 $ 99 $ (1 ) $ 8 $ 32 Total revenues $ 18,976 $ 5,619 $ 8,558 $ 4,559 $ 3,987 $ 1,453 $ 2,289 $ 956 (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. Three Months Ended September 30, 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 June 30, 2020 $ 102 $ 14 $ 29 $ 14 $ 14 $ 5 $ 3 $ 6 Write-Offs 12 (2 ) 15 13 2 — — — Credit Loss Expense (9 ) — (16 ) (15 ) — — — 3 Other Adjustments 28 10 9 9 — — — — Balance at September 30, 2020 $ 133 $ 22 $ 37 $ 21 $ 16 $ 5 $ 3 $ 9 Nine Months Ended September 30, 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 (7 ) (8 ) 8 8 — — — (5 ) Credit Loss Expense 24 9 2 (5 ) 8 1 — 7 Other Adjustments 35 10 9 9 — — — — Balance at September 30, 2020 $ 133 $ 22 $ 37 $ 21 $ 16 $ 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, including the impacts of COVID-19, 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 periodically for trade and other receivables. Due to the COVID-19 pandemic, as described in Note 1 , certain jurisdictions have resumed standard billing and credit practices, disconnections for nonpayment and late payment charges, all of which were previously suspended in the first quarter of 2020. 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. September 30, 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 $ 788 $ 284 $ 274 $ 139 $ 135 $ 1 $ 16 $ 5 0-30 days 1,800 475 847 439 406 44 23 66 30-60 days 227 86 84 48 36 7 2 8 60-90 days 94 39 31 20 11 3 1 3 90+ days 263 85 68 37 31 40 9 20 Trade and Other Receivables $ 3,172 $ 969 $ 1,304 $ 683 $ 619 $ 95 $ 51 $ 102 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) September 30, 2020 December 31, 2019 Duke Energy $ 788 $ 843 Duke Energy Carolinas 284 298 Progress Energy 274 217 Duke Energy Progress 139 122 Duke Energy Florida 135 95 Duke Energy Ohio 1 1 Duke Energy Indiana 16 16 Piedmont 5 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 12 for further information. These receivables for unbilled revenues are shown in the table below. (in millions) September 30, 2020 December 31, 2019 Duke Energy Ohio $ 66 $ 82 Duke Energy Indiana 106 115 |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 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 and accumulated preferred dividends, 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 and accumulated preferred dividends, 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 September 30, Nine Months Ended September 30, (in millions, except per share amounts) 2020 2019 2020 2019 Net income available to Duke Energy common stockholders $ 1,265 $ 1,327 $ 1,347 $ 3,047 Accumulated preferred stock dividends adjustment 12 (2 ) 13 (2 ) Less: Impact of participating securities 1 1 2 4 Income from continuing operations available to Duke Energy common stockholders $ 1,276 $ 1,324 $ 1,358 $ 3,041 Weighted average common shares outstanding – basic 735 729 735 728 Equity forwards — — — — Weighted average common shares outstanding – diluted 735 729 735 728 EPS available to Duke Energy common stockholders Basic and diluted $ 1.74 $ 1.82 $ 1.85 $ 4.18 Potentially dilutive items excluded from the calculation (a) 2 2 2 2 Dividends declared per common share $ 0.965 $ 0.945 $ 2.855 $ 2.800 Dividends declared on Series A preferred stock per depositary share (b) $ 0.359 $ 0.359 $ 1.078 $ 0.667 Dividends declared on Series B preferred stock per share (c) $ 24.375 $ — $ 49.292 $ — (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. In May 2020, Duke Energy marketed approximately 903,000 shares of common stock through an equity forward transaction under the ATM with an initial forward price of $82.44 per share. In August 2020, Duke Energy marketed approximately 936,000 shares of common stock through an equity forward transaction under the ATM with an initial forward price of $79.52 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 initial forward sale price will be subject to adjustment based on a floating interest rate factor and other fixed amounts specified in the relevant forward sale agreements. The settlement alternatives are at Duke Energy's election and settlement of the forward sales agreements are expected to occur on or prior to December 31, 2020. If Duke Energy had elected to net share settle these contracts as of September 30, 2020, Duke Energy would have been required to deliver 1.9 million shares. No amounts have or will be recorded in Duke Energy's Condensed Consolidated Financial Statements with respect to these ATM offerings until settlements of the equity forwards occur. 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 | 9 Months Ended |
Sep. 30, 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 September 30, 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 32 7 10 4 6 2 3 2 Amortization of prior service credit (8 ) (2 ) — — — — — (2 ) Amortization of settlement charges 11 6 5 5 1 — 1 1 Net periodic pension costs $ — $ 3 $ — $ 3 $ (1 ) $ — $ 1 $ (1 ) Three Months Ended September 30, 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 $ 42 $ 13 $ 13 $ 7 $ 5 $ 1 $ 2 $ 1 Interest cost on projected benefit obligation 77 17 24 10 14 5 6 2 Expected return on plan assets (140 ) (36 ) (45 ) (22 ) (22 ) (7 ) (11 ) (5 ) Amortization of actuarial loss 28 6 10 4 6 2 3 2 Amortization of prior service credit (8 ) (2 ) (1 ) — — — — (2 ) Net periodic pension costs $ (1 ) $ (2 ) $ 1 $ (1 ) $ 3 $ 1 $ — $ (2 ) Nine Months Ended September 30, 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 $ 124 $ 38 $ 36 $ 20 $ 16 $ 3 $ 6 $ 4 Interest cost on projected benefit obligation 202 47 64 29 35 12 17 7 Expected return on plan assets (429 ) (108 ) (143 ) (66 ) (76 ) (21 ) (32 ) (16 ) Amortization of actuarial loss 96 21 30 13 17 5 9 7 Amortization of prior service credit (24 ) (6 ) (2 ) (1 ) (1 ) — (1 ) (7 ) Amortization of settlement charges 16 8 6 6 1 — 1 1 Net periodic pension costs $ (15 ) $ — $ (9 ) $ 1 $ (8 ) $ (1 ) $ — $ (4 ) Nine Months Ended September 30, 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 $ 116 $ 37 $ 34 $ 19 $ 15 $ 3 $ 6 $ 4 Interest cost on projected benefit obligation 242 58 76 34 41 14 19 8 Expected return on plan assets (426 ) (111 ) (134 ) (66 ) (66 ) (21 ) (32 ) (16 ) Amortization of actuarial loss 77 17 28 10 18 3 6 5 Amortization of prior service credit (24 ) (6 ) (2 ) (1 ) (1 ) — (1 ) (7 ) Net periodic pension costs $ (15 ) $ (5 ) $ 2 $ (4 ) $ 7 $ (1 ) $ (2 ) $ (6 ) NON-QUALIFIED PENSION PLANS Net periodic pension costs for non-qualified pension plans were not material for the three and nine months ended September 30, 2020, and 2019. OTHER POST-RETIREMENT BENEFIT PLANS Net periodic costs for OPEB plans were not material for the three and nine months ended September 30, 2020, and 2019. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 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 Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Duke Energy 7.8 % 12.4 % (6.4 )% 12.5 % Duke Energy Carolinas 12.0 % 16.7 % 13.6 % 17.7 % Progress Energy 10.4 % 15.3 % 13.4 % 16.2 % Duke Energy Progress 3.1 % 14.7 % 10.0 % 16.1 % Duke Energy Florida 21.4 % 16.5 % 20.3 % 18.0 % Duke Energy Ohio 16.7 % 12.9 % 16.6 % 15.2 % Duke Energy Indiana 19.6 % 23.2 % 19.4 % 23.7 % Piedmont 16.7 % 35.7 % 3.7 % 18.5 % The decrease in the ETR for Duke Energy for the three months ended September 30, 2020, was primarily due to an increase in the amortization of excess deferred taxes. The decrease in the ETR for Duke Energy for the nine months ended September 30, 2020 , was primarily due to the impact of the cancellation of the ACP pipeline project recorded in the second quarter of 2020 and an increase in the amortization of excess deferred taxes. The decrease in the ETR for Duke Energy Carolinas for the three and nine months ended September 30, 2020 , was primarily due to an increase in the amortization of excess deferred taxes. The decrease in the ETR for Progress Energy for the three and nine months ended September 30, 2020 , was primarily due to an increase in the amortization of excess deferred taxes. The decrease in the ETR for Duke Energy Progress for the three and nine months ended September 30, 2020 , was primarily due to an increase in the amortization of excess deferred taxes. The increase in the ETR for Duke Energy Florida for the three and nine months ended September 30, 2020, was primarily due to favorable tax adjustments in the prior year. The increase in the ETR for Duke Energy Ohio for the three and nine months ended September 30, 2020, was primarily due to favorable tax adjustments in the prior year. The decrease in the ETR for Duke Energy Indiana for the three and nine months ended September 30, 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 September 30, 2020 , was primarily due to a decrease in the amortization of excess deferred taxes, in relation to pretax losses. The decrease in the ETR for Piedmont for the nine months ended September 30, 2020 , was primarily due to an increase in the amortization of excess deferred taxes and an increase in AFUDC equity. 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 were reclassified in the first quarter 2020 to a current receivable included in Other within Current Assets on the Condensed Consolidated Balance Sheets. In the third quarter of 2020, Duke Energy received $572 million related to these AMT credit carryforwards and $19 million of interest income. 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 | 9 Months Ended |
Sep. 30, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS For information on subsequent events related to regulatory matters, see Note 3. On October 29, 2020, Tropical Storm Zeta impacted Duke Energy Carolinas territory causing nearly 1 million customer power outages. The estimated cost of this storm has not been determined, but is expected to be less than $100 million . |
Organization and Basis of Pre_2
Organization and Basis of Presentation (Policy) | 9 Months Ended |
Sep. 30, 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 12 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 declared COVID-19 a global pandemic, and President Trump proclaimed that the COVID-19 outbreak in the United States constitutes a national emergency. The Duke Energy Registrants are monitoring developments closely and responding appropriately. The company incurred approximately $39 million and $91 million of incremental COVID-19 costs before deferral for the three and nine months ended September 30, 2020 , respectively, included in Operation, maintenance and other on the Condensed Consolidated Statements of Operations. For the nine months ended September 30, 2020 , the company has deferred approximately $56 million of these incremental costs, which were primarily bad debt expense, personal protective equipment and cleaning supplies. Further, the company waived approximately $29 million and $54 million of late payment fees for the three and nine months ended September 30, 2020 , respectively. See Notes 3 , 5 , 12 , 13 and 16 for additional information as well as steps taken to mitigate the impacts to our business and customers from the COVID-19 pandemic. OTHER CURRENT ASSETS Included in Other within Current Assets on the Piedmont Condensed Consolidated Balance Sheets are prepaid assets of $23 million and $3 million as of September 30, 2020 , and December 31, 2019 , respectively. The prepaid assets relate to natural gas storage injections and inventory transfers classified as prepaid assets until winter season when the natural gas is moved to Inventory on the Piedmont Condensed Consolidated Balance Sheets under certain agreements. OTHER CURRENT LIABILITIES Included in Other within Current Liabilities on the Duke Energy Condensed Consolidated Balance Sheet is a current liability of $935 million and $0 as of September 30, 2020 , and December 31, 2019 , respectively. The current liability, initially recorded in the second quarter and increased during the third quarter, primarily represents Duke Energy's share of ACP's obligations of outstanding debt and to satisfy ARO requirements to restore construction sites. See Notes 3 , 4 and 12 for further information. 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 over the IRS recapture period, 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. 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 . The following table presents cash received for the sale of noncontrolling interest and allocated losses to noncontrolling interest for the three and nine months ended September 30, 2020 , and 2019 . Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Noncontrolling Interest Capital Contributions Cash received for the sale of noncontrolling interest to tax equity members $ 239 $ 7 $ 402 $ 200 Cash received for the sale of noncontrolling interest to pro rata share members — — — 415 Total Noncontrolling Interest Capital Contributions 239 7 402 615 Noncontrolling Interest Allocation of Income Allocated losses to noncontrolling tax equity members utilizing the HLBV method 59 15 187 105 Allocated losses to noncontrolling members based on pro rata shares of ownership 11 4 21 5 Total Noncontrolling Interest Allocated Losses $ 70 $ 19 $ 208 $ 110 |
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 Notes 10 and 12 |
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 Financial Accounting Standards Board (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 13 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 September 30, 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. The full outcome of the transition away from LIBOR cannot be determined at this time, but is not expected to have a material impact on the financial statements. |
Environmental Costs | 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.Liabilities are recorded when losses become probable and are reasonably estimable. |
Derivatives | Cash Flow Hedges For derivatives designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, 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. Gains and losses reclassified out of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2020 , and 2019 , were not material. Duke Energy’s commodity derivatives designated as hedges include long-term electricity sales in the Commercial Renewables segment. Undesignated Contracts For the Subsidiary Registrants, bulk power electricity 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. 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 a 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 | 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. 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 and accumulated preferred dividends, 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 and accumulated preferred dividends, 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) | 9 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Cash Received and Allocated Losses from Subsidiaries, Noncontrolling Interest | The following table presents cash received for the sale of noncontrolling interest and allocated losses to noncontrolling interest for the three and nine months ended September 30, 2020 , and 2019 . Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Noncontrolling Interest Capital Contributions Cash received for the sale of noncontrolling interest to tax equity members $ 239 $ 7 $ 402 $ 200 Cash received for the sale of noncontrolling interest to pro rata share members — — — 415 Total Noncontrolling Interest Capital Contributions 239 7 402 615 Noncontrolling Interest Allocation of Income Allocated losses to noncontrolling tax equity members utilizing the HLBV method 59 15 187 105 Allocated losses to noncontrolling members based on pro rata shares of ownership 11 4 21 5 Total Noncontrolling Interest Allocated Losses $ 70 $ 19 $ 208 $ 110 |
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. September 30, 2020 December 31, 2019 Duke Duke Duke Progress Energy Duke Progress Energy Energy Energy Florida Energy Energy Florida Current Assets Cash and cash equivalents $ 308 $ 70 $ 19 $ 311 $ 48 $ 17 Other 187 16 16 222 39 39 Other Noncurrent Assets Other 105 102 — 40 39 — Total cash, cash equivalents and restricted cash $ 600 $ 188 $ 35 $ 573 $ 126 $ 56 |
Schedule of Utility Inventory | The components of inventory are presented in the tables below. September 30, 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 $ 2,341 $ 779 $ 1,021 $ 682 $ 340 $ 79 $ 314 $ 13 Coal 546 173 168 120 48 12 192 — Natural gas, oil and other fuel 303 40 189 108 80 39 1 34 Total inventory $ 3,190 $ 992 $ 1,378 $ 910 $ 468 $ 130 $ 507 $ 47 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) | 9 Months Ended |
Sep. 30, 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 September 30, 2020 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 6,371 $ 217 $ 126 $ 6,714 $ 7 $ — $ 6,721 Intersegment revenues 8 24 — 32 17 (49 ) — Total revenues $ 6,379 $ 241 $ 126 $ 6,746 $ 24 $ (49 ) $ 6,721 Segment income (loss) (a)(b) $ 1,381 $ (73 ) $ 60 $ 1,368 $ (103 ) $ — $ 1,265 Less: Noncontrolling interests 70 Add: Preferred stock dividend 39 Net Income $ 1,234 Segment assets $ 138,142 $ 13,343 $ 6,541 $ 158,026 $ 3,387 $ (4 ) $ 161,409 Three Months Ended September 30, 2019 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 6,569 $ 225 $ 138 $ 6,932 $ 8 $ — $ 6,940 Intersegment revenues 8 24 — 32 17 (49 ) — Total revenues $ 6,577 $ 249 $ 138 $ 6,964 $ 25 $ (49 ) $ 6,940 Segment income (loss) (c) $ 1,385 $ 26 $ 40 $ 1,451 $ (124 ) $ — $ 1,327 Less: Noncontrolling interests 19 Add: Preferred stock dividend 15 Net Income $ 1,323 (a) Electric Utilities and Infrastructure includes $19 million recorded within Impairment charges and $8 million recorded within Operations, maintenance and other on the Duke Energy Carolinas' Condensed Consolidated Statements of Operations related to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case and $8 million recorded within Operations, maintenance and other on Duke Energy Progress' Condensed Consolidated Statements of Operation related to a partial settlement in the Duke Energy Progress' 2019 North Carolina rate case. See Note 3 for more information. Additionally, Electric Utilities and Infrastructure includes $5 million of Impairment charges related to gas pipeline assets recorded on Duke Energy Progress' Condensed Consolidated Statements of Operations. (b) Gas Utilities and Infrastructure includes $78 million recorded within Equity in (losses) earnings of unconsolidated affiliates on the Condensed Consolidated Statements of Operations and $7 million in Impairment charges recorded on the Piedmont Condensed Consolidated Statements of Operations related to gas pipeline investments. (c) Electric Utilities and Infrastructure includes a $25 million reduction of a prior year impairment recorded at Citrus County CC related to the plant's cost cap and is recorded within Impairment charges on Duke Energy Florida's Condensed Consolidated Statements of Operations. Nine Months Ended September 30, 2020 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 16,571 $ 1,122 $ 378 $ 18,071 $ 20 $ — $ 18,091 Intersegment revenues 25 72 — 97 53 (150 ) — Total revenues $ 16,596 $ 1,194 $ 378 $ 18,168 $ 73 $ (150 ) $ 18,091 Segment income (loss) (a)(b)(c) $ 2,839 $ (1,400 ) $ 207 $ 1,646 $ (299 ) $ — $ 1,347 Less: Noncontrolling interests 208 Add: Preferred stock dividend 93 Net Income $ 1,232 Nine Months Ended September 30, 2019 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 17,357 $ 1,239 $ 362 $ 18,958 $ 18 $ — $ 18,976 Intersegment revenues 24 72 — 96 53 (149 ) — Total revenues $ 17,381 $ 1,311 $ 362 $ 19,054 $ 71 $ (149 ) $ 18,976 Segment income (loss) (d) $ 2,944 $ 292 $ 139 $ 3,375 $ (328 ) $ — $ 3,047 Less: Noncontrolling interests 110 Add: Preferred stock dividend 27 Net Income $ 2,964 (a) Electric Utilities and Infrastructure includes $19 million recorded within Impairment charges and $8 million recorded within Operations, maintenance and other on the Duke Energy Carolinas' Condensed Consolidated Statements of Operations related to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case and $8 million recorded within Operations, maintenance and other on Duke Energy Progress' Condensed Consolidated Statements of Operation related to a partial settlement in the Duke Energy Progress' 2019 North Carolina rate case. See Note 3 for more information. Additionally, Electric Utilities and Infrastructure includes $5 million of Impairment charges related to gas pipeline assets recorded on Duke Energy Progress' Condensed Consolidated Statements of Operations. (b) Gas Utilities and Infrastructure includes $2.1 billion recorded within Equity in (losses) earnings of unconsolidated affiliates on the Condensed Consolidated Statements of Operations and $7 million of Impairment charges recorded on the Piedmont Condensed Consolidated Statements of Operations related to gas pipeline investments. See Notes 3 and 12 for additional information. (c) 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 a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case. See Note 3 for additional information. (d) Electric Utilities and Infrastructure includes a $25 million reduction of a prior year impairment recorded at Citrus County CC related to the plant's costs cap and is recorded within Impairment charges on Duke Energy Florida's Condensed Consolidated Statements of Operations. |
Duke Energy Ohio | |
Segment Reporting Information [Line Items] | |
Business Segment Data | Three Months Ended September 30, 2020 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 394 $ 79 $ 473 $ — $ — $ 473 Segment income/Net income $ 63 $ 9 $ 72 $ (2 ) $ — $ 70 Segment assets $ 6,448 $ 3,297 $ 9,745 $ 27 $ (23 ) $ 9,749 Three Months Ended September 30, 2019 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Total Total revenues $ 408 $ 81 $ 489 $ — $ 489 Segment income/Net income $ 62 $ 13 $ 75 $ (1 ) $ 74 Nine Months Ended September 30, 2020 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Total Total revenues $ 1,070 $ 324 $ 1,394 $ — $ 1,394 Segment income/Net (loss) income $ 137 $ 68 $ 205 $ (4 ) $ 201 Nine Months Ended September 30, 2019 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Total Total revenues $ 1,099 $ 354 $ 1,453 $ — $ 1,453 Segment income/Net (loss) income $ 129 $ 65 $ 194 $ (4 ) $ 190 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 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) 582 $ 141 Allen Steam Station Units 4-5 (b) 516 321 Cliffside Unit 5 (b) 544 355 Duke Energy Progress Mayo Unit 1 (b) 727 673 Roxboro Units 3-4 (b) 1,392 486 Duke Energy Indiana Gallagher Units 2 and 4 (c) 280 112 Gibson Units 1-5 (d) 3,132 1,683 Cayuga Units 1-2 (d) 1,005 935 Total Duke Energy 8,178 $ 4,706 (a) As part of the 2015 resolution of a lawsuit involving alleged New Source Review violations, Duke Energy Carolinas must retire Allen Steam Station Units 1 through 3 by December 31, 2024. The long-term energy options considered in the IRP could result in retirement of these units earlier than their current estimated useful lives. (b) These units are included in the IRP filed by Duke Energy Carolinas and Duke Energy Progress in North Carolina and South Carolina on September 1, 2020. The long-term energy options considered in the IRP could result in retirement of these units earlier than their current estimated useful lives. In 2019, Duke Energy Carolinas and Duke Energy Progress filed North Carolina rate cases that included depreciation studies that accelerate end of life dates for these plants. A decision by NCUC is expected by the end of the first quarter 2021. (c) 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. (d) 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, included proposed depreciation rates reflecting retirement dates from 2026 to 2038. The depreciation rates reflecting these updated retirement dates were approved by the IURC as part of the rate case order issued on June 29, 2020. |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 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) September 30, 2020 December 31, 2019 Reserves for Legal Matters Duke Energy $ 60 $ 62 Duke Energy Carolinas 2 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. (in millions) September 30, 2020 December 31, 2019 Reserves for Environmental Remediation Duke Energy $ 66 $ 58 Duke Energy Carolinas 16 11 Progress Energy 15 16 Duke Energy Progress 5 4 Duke Energy Florida 8 9 Duke Energy Ohio 22 19 Duke Energy Indiana 5 4 Piedmont 8 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 $ 56 Duke Energy Carolinas 12 Duke Energy Ohio 38 |
Debt and Credit Facilities (Tab
Debt and Credit Facilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments | The following table summarizes significant debt issuances (in millions). Nine Months Ended September 30, 2020 Duke Duke Duke Duke Duke Duke Maturity Interest Duke Energy Energy Energy Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Progress Florida Ohio Indiana Piedmont Unsecured Debt May 2020 (a) Jun 2030 2.450 % $ 500 $ 500 $ — $ — $ — $ — $ — $ — May 2020 (b) Jun 2050 3.350 % 400 — — — — — 400 August 2020 (c) Feb 2022 0.430 % (d) 700 — — 700 — — — — September 2020 (e) Sep 2025 0.900 % 650 650 — — — — — — September 2020 (e) Jun 2030 2.450 % 350 350 — — — — — — First Mortgage Bonds January 2020 (f) Feb 2030 2.450 % 500 — 500 — — — — — January 2020 (f) Aug 2049 3.200 % 400 — 400 — — — — — March 2020 (g) Apr 2050 2.750 % 550 — — — — — 550 — May 2020 (b) Jun 2030 2.125 % 400 — — — — 400 — — June 2020 (b) Jun 2030 1.750 % 500 — — — 500 — — — August 2020 (h) Aug 2050 2.500 % 600 — — 600 — — — — Total issuances $ 5,550 $ 1,500 $ 900 $ 1,300 $ 500 $ 400 $ 550 $ 400 (a) Debt issued to repay $500 million borrowing made under Duke Energy (Parent) revolving credit facility in March 2020, and for general corporate purposes. (b) Debt issued to repay short-term debt and for general corporate purposes. (c) Debt issued to repay $700 million two-year term loan facility expiring in December 2020. (d) Debt issuance has a floating interest rate. (e) Debt issued to repay a portion of outstanding commercial paper, to repay a portion of Duke Energy (Parent)'s outstanding $1.7 billion term loan due March 2021 and for general corporate purposes. (f) Debt issued to repay at maturity $450 million first mortgage bonds due June 2020 and for general corporate purposes. (g) Debt issued to repay at maturity $500 million first mortgage bonds due July 2020 and to pay down short-term debt. (h) Debt issued to repay at maturity $300 million first mortgage bonds due September 2020 and for general corporate purposes. 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 September 30, 2020 Unsecured Debt Progress Energy, Inc January 2021 4.400 % $ 500 Duke Energy (Parent) May 2021 0.765 % (a) 500 Piedmont June 2021 4.240 % 160 Duke Energy (Parent) September 2021 3.550 % 500 Duke Energy (Parent) September 2021 1.800 % 750 Secured Debt Duke Energy Florida April 2021 1.035 % (a) 250 First Mortgage Bonds Duke Energy Carolinas June 2021 3.900 % 500 Duke Energy Florida August 2021 3.100 % 300 Duke Energy Progress September 2021 3.000 % 500 Duke Energy Progress September 2021 8.625 % 100 Other (b) 609 Current maturities of long-term debt $ 4,669 (a) Debt 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. September 30, 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 $ 1,475 $ 1,250 $ 800 $ 625 $ 600 $ 600 Reduction to backstop issuances Commercial paper (b) (2,007 ) (693 ) (300 ) (308 ) (62 ) (106 ) (229 ) (309 ) Outstanding letters of credit (40 ) (34 ) (4 ) (2 ) — — — — Tax-exempt bonds (81 ) — — — — — (81 ) — Available capacity under the Master Credit Facility $ 5,872 $ 1,923 $ 1,171 $ 940 $ 738 $ 519 $ 290 $ 291 (a) Represents the sublimit of each borrower. (b) Duke Energy issued $625 million September 30, 2020 (in millions) Facility size Amount drawn Duke Energy (Parent) Three-Year Revolving Credit Facility $ 1,000 $ 500 |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Asset Retirement Obligation [Abstract] | |
Schedule of Asset Retirement Obligations | The following table presents the AROs recorded on the Condensed Consolidated Balance Sheets. September 30, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Decommissioning of nuclear power facilities (a) $ 6,815 $ 2,658 $ 4,107 $ 3,606 $ 501 $ — $ — $ — Closure of ash impoundments 6,458 3,049 2,172 2,150 22 51 1,186 — Other 381 67 76 44 32 40 28 17 Total ARO $ 13,654 $ 5,774 $ 6,355 $ 5,800 $ 555 $ 91 $ 1,214 $ 17 Less: Current portion 742 267 297 297 — 7 170 — Total noncurrent ARO $ 12,912 $ 5,507 $ 6,058 $ 5,503 $ 555 $ 84 $ 1,044 $ 17 (a) Duke Energy amount includes purchase accounting adjustments related to the merger with Progress Energy. |
Schedule of Change in Asset Retirement Obligation | The following table presents the change in liability associated with AROs for the Duke Energy Registrants. 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 (a) $ 13,318 $ 5,734 $ 6,471 $ 5,893 $ 578 $ 80 $ 832 $ 17 Accretion expense (b) 408 195 187 171 16 3 22 — Liabilities settled (c) (540 ) (151 ) (333 ) (293 ) (40 ) (1 ) (56 ) — Liabilities incurred in the current year 17 — — — — — — — Revisions in estimates of cash flows (d) 451 (4 ) 30 29 1 9 416 — Balance at September 30, 2020 $ 13,654 $ 5,774 $ 6,355 $ 5,800 $ 555 $ 91 $ 1,214 $ 17 (a) Primarily relates to decommissioning nuclear power facilities, closure of ash impoundments, asbestos removal, closure of landfills at fossil generation facilities, retirement of natural gas mains and removal of renewable energy generation assets. (b) For the nine months ended September 30, 2020 , substantially all accretion expense relates to Duke Energy's regulated operations and has been deferred in accordance with regulatory accounting treatment. (c) Primarily relates to ash impoundment closures. (d) Primarily relates to increases in closure estimates for certain ash impoundments as a result of certain changes in estimates and the impact of Hoosier Environmental Council’s petition filed with the court challenging the Indiana Department of Environmental Management’s partial approval of Duke Energy Indiana’s ash pond closure plan, new closure plan approvals, as well as increased post closure maintenance, landfill and beneficiation costs. See Note 4 for more information on Hoosier Environmental Council's petition. The incremental amount recorded represents the discounted cash flows for estimated closure costs based upon the probability weightings of the potential closure methods as evaluated on a site-by-site basis. |
Goodwill (Tables)
Goodwill (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 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) | 9 Months Ended |
Sep. 30, 2020 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions, Other Revenue and Expense | 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 September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 198 $ 197 $ 528 $ 606 Indemnification coverages (b) 5 5 15 15 Joint Dispatch Agreement (JDA) revenue (c) 6 12 16 52 JDA expense (c) 28 32 72 145 Intercompany natural gas purchases (d) 10 — 26 7 Progress Energy Corporate governance and shared service expenses (a) $ 185 $ 194 $ 520 $ 553 Indemnification coverages (b) 9 8 27 27 JDA revenue (c) 28 32 72 145 JDA expense (c) 6 12 16 52 Intercompany natural gas purchases (d) 18 19 56 57 Duke Energy Progress Corporate governance and shared service expenses (a) $ 113 $ 114 $ 301 $ 328 Indemnification coverages (b) 4 3 13 11 JDA revenue (c) 28 32 72 145 JDA expense (c) 6 12 16 52 Intercompany natural gas purchases (d) 18 19 56 57 Duke Energy Florida Corporate governance and shared service expenses (a) $ 72 $ 80 $ 219 $ 225 Indemnification coverages (b) 5 5 14 16 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 80 $ 90 $ 241 $ 258 Indemnification coverages (b) 1 1 3 3 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 102 $ 109 $ 300 $ 299 Indemnification coverages (b) 2 2 6 5 Piedmont Corporate governance and shared service expenses (a) $ 31 $ 33 $ 102 $ 102 Indemnification coverages (b) 1 1 2 2 Intercompany natural gas sales (d) 28 19 82 64 Natural gas storage and transportation costs (e) 6 6 17 17 (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) Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana Piedmont September 30, 2020 Intercompany income tax receivable $ — $ — $ — $ — $ — $ — $ 14 Intercompany income tax payable 206 49 104 98 6 56 — December 31, 2019 Intercompany income tax receivable $ — $ 125 $ 28 $ — $ 9 $ 28 $ 13 Intercompany income tax payable 5 — — 2 — — — |
Derivatives and Hedging (Tables
Derivatives and Hedging (Tables) | 9 Months Ended |
Sep. 30, 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. September 30, 2020 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges $ 653 $ — $ — $ — $ — $ — Undesignated contracts 1,177 400 750 750 — 27 Total notional amount (a) $ 1,830 $ 400 $ 750 $ 750 $ — $ 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 $653 million in cash flow hedges as of September 30, 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. September 30, 2020 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Carolinas Energy Progress Ohio Indiana Piedmont Electricity (GWh) (a) 32,314 — — — 4,126 17,072 — Natural gas (millions of dekatherms) 683 143 156 156 — 2 382 December 31, 2019 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Carolinas Energy Progress Ohio Indiana Piedmont Electricity (GWh) 15,858 — — — 1,887 13,971 — Natural gas (millions of dekatherms) 704 130 160 160 — 3 411 (a) Duke Energy includes 11,116 GWh that relates to cash flow hedges. |
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 September 30, 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 $ 57 $ 24 $ 18 $ 18 $ — $ 2 $ 8 $ 6 Noncurrent 26 14 12 12 — — — — Total Derivative Assets – Commodity Contracts $ 83 $ 38 $ 30 $ 30 $ — $ 2 $ 8 $ 6 Interest Rate Contracts Not Designated as Hedging Instruments Current $ 3 $ — $ 3 $ 3 $ — $ — $ — $ — Noncurrent — — — — — — — — Total Derivative Assets – Interest Rate Contracts $ 3 $ — $ 3 $ 3 $ — $ — $ — $ — Total Derivative Assets $ 86 $ 38 $ 33 $ 33 $ — $ 2 $ 8 $ 6 Derivative Liabilities September 30, 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 Designated as Hedging Instruments Current $ 17 $ — $ — $ — $ — $ — $ — — Noncurrent 85 — — — — — — — Not Designated as Hedging Instruments Current $ 26 $ 12 $ — $ — $ — $ 1 $ — $ 13 Noncurrent 129 4 27 11 — — — 98 Total Derivative Liabilities – Commodity Contracts $ 257 $ 16 $ 27 $ 11 $ — $ 1 $ — $ 111 Interest Rate Contracts Designated as Hedging Instruments Current $ 14 $ — $ — $ — $ — $ — $ — $ — Noncurrent 56 — — — — — — — Not Designated as Hedging Instruments Current 27 17 9 9 — 1 — — Noncurrent 5 — — — — 5 — — Total Derivative Liabilities – Interest Rate Contracts $ 102 $ 17 $ 9 $ 9 $ — $ 6 $ — $ — Total Derivative Liabilities $ 359 $ 33 $ 36 $ 20 $ — $ 7 $ — $ 111 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 September 30, 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 $ 60 $ 24 $ 21 $ 21 $ — $ 2 $ 8 $ 6 Gross amounts offset (1 ) — — — — — — — Net amounts presented in Current Assets: Other $ 59 $ 24 $ 21 $ 21 $ — $ 2 $ 8 $ 6 Noncurrent Gross amounts recognized $ 26 $ 14 $ 12 $ 12 $ — $ — $ — $ — Gross amounts offset (8 ) — (8 ) (8 ) — — — — Net amounts presented in Other Noncurrent Assets: Other $ 18 $ 14 $ 4 $ 4 $ — $ — $ — $ — Derivative Liabilities September 30, 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 $ 84 $ 29 $ 9 $ 9 $ — $ 2 $ — $ 13 Gross amounts offset (1 ) — — — — — — — Net amounts presented in Current Liabilities: Other $ 83 $ 29 $ 9 $ 9 $ — $ 2 $ — $ 13 Noncurrent Gross amounts recognized $ 275 $ 4 $ 27 $ 11 $ — $ 5 $ — $ 98 Gross amounts offset (8 ) — (8 ) (8 ) — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 267 $ 4 $ 19 $ 3 $ — $ 5 $ — $ 98 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 | 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 September 30, 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 $ 60 $ 24 $ 21 $ 21 $ — $ 2 $ 8 $ 6 Gross amounts offset (1 ) — — — — — — — Net amounts presented in Current Assets: Other $ 59 $ 24 $ 21 $ 21 $ — $ 2 $ 8 $ 6 Noncurrent Gross amounts recognized $ 26 $ 14 $ 12 $ 12 $ — $ — $ — $ — Gross amounts offset (8 ) — (8 ) (8 ) — — — — Net amounts presented in Other Noncurrent Assets: Other $ 18 $ 14 $ 4 $ 4 $ — $ — $ — $ — Derivative Liabilities September 30, 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 $ 84 $ 29 $ 9 $ 9 $ — $ 2 $ — $ 13 Gross amounts offset (1 ) — — — — — — — Net amounts presented in Current Liabilities: Other $ 83 $ 29 $ 9 $ 9 $ — $ 2 $ — $ 13 Noncurrent Gross amounts recognized $ 275 $ 4 $ 27 $ 11 $ — $ 5 $ — $ 98 Gross amounts offset (8 ) — (8 ) (8 ) — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 267 $ 4 $ 19 $ 3 $ — $ 5 $ — $ 98 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. September 30, 2020 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 20 $ 9 $ 11 $ 11 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 20 9 11 11 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) | 9 Months Ended |
Sep. 30, 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. September 30, 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 $ — $ — $ 687 $ — $ — $ 101 Equity securities 3,436 103 5,459 3,523 55 5,661 Corporate debt securities 65 1 789 37 1 603 Municipal bonds 19 1 407 13 — 368 U.S. government bonds 58 — 843 33 1 1,256 Other debt securities 9 — 185 3 — 141 Total NDTF Investments $ 3,587 $ 105 $ 8,370 $ 3,609 $ 57 $ 8,130 Other Investments Cash and cash equivalents $ — $ — $ 110 $ — $ — $ 52 Equity securities 60 — 126 57 — 122 Corporate debt securities 8 — 129 3 — 67 Municipal bonds 6 1 114 4 — 94 U.S. government bonds 1 — 21 2 — 41 Other debt securities — — 44 — — 56 Total Other Investments $ 75 $ 1 $ 544 $ 66 $ — $ 432 Total Investments $ 3,662 $ 106 $ 8,914 $ 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. September 30, 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 $ — $ — $ 687 $ — $ — $ 101 Equity securities 3,436 103 5,459 3,523 55 5,661 Corporate debt securities 65 1 789 37 1 603 Municipal bonds 19 1 407 13 — 368 U.S. government bonds 58 — 843 33 1 1,256 Other debt securities 9 — 185 3 — 141 Total NDTF Investments $ 3,587 $ 105 $ 8,370 $ 3,609 $ 57 $ 8,130 Other Investments Cash and cash equivalents $ — $ — $ 110 $ — $ — $ 52 Equity securities 60 — 126 57 — 122 Corporate debt securities 8 — 129 3 — 67 Municipal bonds 6 1 114 4 — 94 U.S. government bonds 1 — 21 2 — 41 Other debt securities — — 44 — — 56 Total Other Investments $ 75 $ 1 $ 544 $ 66 $ — $ 432 Total Investments $ 3,662 $ 106 $ 8,914 $ 3,675 $ 57 $ 8,562 |
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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ 13 $ 60 $ 338 $ 161 Realized losses 16 43 148 136 AFS: Realized gains 26 53 73 110 Realized losses 19 36 38 83 |
Investments Classified by Contractual Maturity Date | The table below summarizes the maturity date for debt securities. September 30, 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 $ 53 $ 13 $ 15 $ 14 $ 1 $ 4 Due after one through five years 558 247 256 246 10 16 Due after five through 10 years 608 278 232 224 8 9 Due after 10 years 1,313 694 542 508 34 16 Total $ 2,532 $ 1,232 $ 1,045 $ 992 $ 53 $ 45 |
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. September 30, 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 $ — $ — $ 42 $ — $ — $ 21 Equity securities 2,027 52 3,229 1,914 8 3,154 Corporate debt securities 42 1 507 21 1 361 Municipal bonds 5 — 118 3 — 96 U.S. government bonds 28 — 428 16 1 578 Other debt securities 7 — 179 3 — 137 Total NDTF Investments $ 2,109 $ 53 $ 4,503 $ 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. September 30, 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 $ — $ — $ 42 $ — $ — $ 21 Equity securities 2,027 52 3,229 1,914 8 3,154 Corporate debt securities 42 1 507 21 1 361 Municipal bonds 5 — 118 3 — 96 U.S. government bonds 28 — 428 16 1 578 Other debt securities 7 — 179 3 — 137 Total NDTF Investments $ 2,109 $ 53 $ 4,503 $ 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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ 10 $ 34 $ 46 $ 101 Realized losses 12 26 82 95 AFS: Realized gains 20 21 50 46 Realized losses 17 13 30 34 |
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. September 30, 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 $ — $ — $ 645 $ — $ — $ 80 Equity securities 1,409 51 2,230 1,609 47 2,507 Corporate debt securities 23 — 282 16 — 242 Municipal bonds 14 1 289 10 — 272 U.S. government bonds 30 — 415 17 — 678 Other debt securities 2 — 6 — — 4 Total NDTF Investments $ 1,478 $ 52 $ 3,867 $ 1,652 $ 47 $ 3,783 Other Investments Cash and cash equivalents $ — $ — $ 107 $ — $ — $ 49 Municipal bonds 4 — 53 3 — 51 Total Other Investments $ 4 $ — $ 160 $ 3 $ — $ 100 Total Investments $ 1,482 $ 52 $ 4,027 $ 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. September 30, 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 $ — $ — $ 645 $ — $ — $ 80 Equity securities 1,409 51 2,230 1,609 47 2,507 Corporate debt securities 23 — 282 16 — 242 Municipal bonds 14 1 289 10 — 272 U.S. government bonds 30 — 415 17 — 678 Other debt securities 2 — 6 — — 4 Total NDTF Investments $ 1,478 $ 52 $ 3,867 $ 1,652 $ 47 $ 3,783 Other Investments Cash and cash equivalents $ — $ — $ 107 $ — $ — $ 49 Municipal bonds 4 — 53 3 — 51 Total Other Investments $ 4 $ — $ 160 $ 3 $ — $ 100 Total Investments $ 1,482 $ 52 $ 4,027 $ 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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ 3 $ 26 $ 292 $ 60 Realized losses 4 17 66 41 AFS: Realized gains 6 31 17 62 Realized losses 2 23 7 49 |
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. September 30, 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 $ — $ — $ 57 $ — $ — $ 53 Equity securities 1,340 51 2,150 1,258 21 2,077 Corporate debt securities 23 — 282 16 — 242 Municipal bonds 14 1 289 10 — 272 U.S. government bonds 30 — 415 16 — 403 Other debt securities 2 — 6 — — 4 Total NDTF Investments $ 1,409 $ 52 $ 3,199 $ 1,300 $ 21 $ 3,051 Other Investments Cash and cash equivalents $ — $ — $ 1 $ — $ — $ 2 Total Other Investments $ — $ — $ 1 $ — $ — $ 2 Total Investments $ 1,409 $ 52 $ 3,200 $ 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. September 30, 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 $ — $ — $ 57 $ — $ — $ 53 Equity securities 1,340 51 2,150 1,258 21 2,077 Corporate debt securities 23 — 282 16 — 242 Municipal bonds 14 1 289 10 — 272 U.S. government bonds 30 — 415 16 — 403 Other debt securities 2 — 6 — — 4 Total NDTF Investments $ 1,409 $ 52 $ 3,199 $ 1,300 $ 21 $ 3,051 Other Investments Cash and cash equivalents $ — $ — $ 1 $ — $ — $ 2 Total Other Investments $ — $ — $ 1 $ — $ — $ 2 Total Investments $ 1,409 $ 52 $ 3,200 $ 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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ 3 $ 10 $ 43 $ 27 Realized losses 4 9 51 24 AFS: Realized gains 6 2 17 4 Realized losses 2 — 7 2 |
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. September 30, 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 $ — $ — $ 588 $ — $ — $ 27 Equity securities 69 — 80 351 26 430 U.S. government bonds — — — 1 — 275 Total NDTF Investments (a) $ 69 $ — $ 668 $ 352 $ 26 $ 732 Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ 4 Municipal bonds 4 — 53 3 — 51 Total Other Investments $ 4 $ — $ 55 $ 3 $ — $ 55 Total Investments $ 73 $ — $ 723 $ 355 $ 26 $ 787 (a) During the nine months ended September 30, 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. September 30, 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 $ — $ — $ 588 $ — $ — $ 27 Equity securities 69 — 80 351 26 430 U.S. government bonds — — — 1 — 275 Total NDTF Investments (a) $ 69 $ — $ 668 $ 352 $ 26 $ 732 Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ 4 Municipal bonds 4 — 53 3 — 51 Total Other Investments $ 4 $ — $ 55 $ 3 $ — $ 55 Total Investments $ 73 $ — $ 723 $ 355 $ 26 $ 787 (a) During the nine months ended September 30, 2020 , Duke Energy Florida continued to receive reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3. |
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 and nine months ended September 30, 2020 , and 2019 , were as follows. Three Months Ended Nine Months Ended (in millions) September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 FV-NI: Realized gains $ — $ 16 $ 249 $ 33 Realized losses — 8 15 17 AFS: Realized gains — 29 — 58 Realized losses — 23 — 47 |
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. September 30, 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 Cash and cash equivalents $ — $ — $ 1 $ — $ — $ — Equity securities 45 — 84 43 — 81 Corporate debt securities — — 3 — — 6 Municipal bonds 1 1 39 1 — 36 U.S. government bonds — — 3 — — 2 Total Investments $ 46 $ 1 $ 130 $ 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. September 30, 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 Cash and cash equivalents $ — $ — $ 1 $ — $ — $ — Equity securities 45 — 84 43 — 81 Corporate debt securities — — 3 — — 6 Municipal bonds 1 1 39 1 — 36 U.S. government bonds — — 3 — — 2 Total Investments $ 46 $ 1 $ 130 $ 44 $ — $ 125 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 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 9 . See Note 10 for additional information related to investments by major security type for the Duke Energy Registrants. September 30, 2020 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF cash and cash equivalents $ 687 $ 687 $ — $ — $ — NDTF equity securities 5,459 5,413 — — 46 NDTF debt securities 2,224 363 1,861 — — Other equity securities 126 126 — — — Other debt securities 308 18 290 — — Other cash and cash equivalents 110 110 — — — Derivative assets 86 5 71 10 — Total assets 9,000 6,722 2,222 10 46 Derivative liabilities (359 ) (1 ) (145 ) (213 ) — Net assets (liabilities) $ 8,641 $ 6,721 $ 2,077 $ (203 ) $ 46 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF cash and cash equivalents $ 101 $ 101 $ — $ — $ — NDTF equity securities 5,684 5,633 — — 51 NDTF debt securities 2,368 725 1,643 — — Other equity securities 122 122 — — — Other debt securities 258 39 219 — — Other cash and cash equivalents 52 52 — — — 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 September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Balance at beginning of period $ (92 ) $ (79 ) $ (102 ) $ (113 ) Total pretax realized or unrealized gains included in comprehensive income (102 ) — (102 ) — Purchases, sales, issuances and settlements: Purchases — — 14 38 Settlements (3 ) (9 ) (18 ) (32 ) Total (losses) gains included on the Condensed Consolidated Balance Sheet (6 ) (2 ) 5 17 Balance at end of period $ (203 ) $ (90 ) $ (203 ) $ (90 ) |
Quantitative Information Table - Level 3 | The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. September 30, 2020 Weighted Fair Value Average Investment Type (in millions) Valuation Technique Unobservable Input Range Range Duke Energy Electricity contracts $ (102 ) RTO forward pricing Forward electricity curves – price per MWh $ 14.92 - $ 151.18 $ 29.63 Duke Energy Ohio FTRs 2 RTO auction pricing FTR price – per MWh — - 1.90 0.64 Duke Energy Indiana FTRs 8 RTO auction pricing FTR price – per MWh (1.03 ) - 6.10 0.74 Piedmont Natural gas contracts (111 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.81 - 2.50 2.11 Duke Energy Total Level 3 derivatives $ (203 ) 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. September 30, 2020 December 31, 2019 (in millions) Book Value Fair Value Book Value Fair Value Duke Energy (a) $ 60,718 $ 69,503 $ 58,126 $ 63,062 Duke Energy Carolinas 12,548 15,165 11,900 13,516 Progress Energy 19,865 23,825 19,634 22,291 Duke Energy Progress 9,358 10,808 9,058 9,934 Duke Energy Florida 7,917 9,684 7,987 9,131 Duke Energy Ohio 3,089 3,619 2,619 2,964 Duke Energy Indiana 4,104 5,140 4,057 4,800 Piedmont 2,780 3,276 2,384 2,642 (a) Book value of long-term debt includes $1.4 billion at September 30, 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. September 30, 2020 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF cash and cash equivalents $ 42 $ 42 $ — $ — NDTF equity securities 3,229 3,183 — 46 NDTF debt securities 1,232 131 1,101 — Derivative assets 38 — 38 — Total assets 4,541 3,356 1,139 46 Derivative liabilities (33 ) — (33 ) — Net assets $ 4,508 $ 3,356 $ 1,106 $ 46 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF cash and cash equivalents $ 21 $ 21 $ — $ — NDTF equity securities 3,154 3,103 — 51 NDTF debt securities 1,172 206 966 — 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. September 30, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF cash and cash equivalents $ 645 $ 645 $ — $ 80 $ 80 $ — NDTF equity securities 2,230 2,230 — 2,530 2,530 — NDTF debt securities 992 232 760 1,196 519 677 Other debt securities 53 — 53 51 — 51 Other cash and cash equivalents 107 107 — 49 49 — Derivative assets 33 — 33 7 — 7 Total assets 4,060 3,214 846 3,913 3,178 735 NDTF equity security contracts — — — (23 ) — (23 ) Derivative liabilities (36 ) — (36 ) (65 ) — (65 ) Net assets $ 4,024 $ 3,214 $ 810 $ 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. September 30, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NTDF cash and cash equivalents $ 57 $ 57 $ — $ 53 $ 53 $ — NDTF equity securities 2,150 2,150 — 2,077 2,077 — NDTF debt securities 992 232 760 921 244 677 Other cash and cash equivalents 1 1 — 2 2 — Derivative assets 33 — 33 — — — Total assets 3,233 2,440 793 3,053 2,376 677 Derivative liabilities (20 ) — (20 ) (49 ) — (49 ) Net assets $ 3,213 $ 2,440 $ 773 $ 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. September 30, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF cash and cash equivalents $ 588 $ 588 $ — $ 27 $ 27 $ — NDTF equity securities 80 80 — 453 453 — NDTF debt securities — — — 275 275 — Other debt securities 53 — 53 51 — 51 Other cash and cash equivalents 2 2 — 4 4 — Derivative assets — — — 7 — 7 Total assets 723 670 53 817 759 58 NDTF equity security contracts — — — (23 ) — (23 ) Derivative liabilities — — — (1 ) — (1 ) Net assets $ 723 $ 670 $ 53 $ 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. September 30, 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 $ 84 $ 84 $ — $ — $ 81 $ 81 $ — $ — Other debt securities 45 — 45 — 44 — 44 — Other cash and cash equivalents 1 1 — — — — — — Derivative assets 8 — — 8 13 2 — 11 Total assets $ 138 $ 85 $ 45 $ 8 $ 138 $ 83 $ 44 $ 11 Derivative liabilities — — — — (1 ) (1 ) — — Net assets $ 138 $ 85 $ 45 $ 8 $ 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 September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Balance at beginning of period $ 10 $ 28 $ 11 $ 22 Purchases, sales, issuances and settlements: Purchases — — 10 29 Settlements (3 ) (7 ) (13 ) (26 ) Total gains (losses) included on the Condensed Consolidated Balance Sheet 1 (5 ) — (9 ) Balance at end of period $ 8 $ 16 $ 8 $ 16 |
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. September 30, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 3 Total Fair Value Level 1 Level 3 Derivative assets $ 6 $ 6 $ — $ 1 $ 1 $ — Derivative liabilities (111 ) — (111 ) (117 ) — (117 ) Net (liabilities) assets $ (105 ) $ 6 $ (111 ) $ (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 September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Balance at beginning of period $ (105 ) $ (114 ) $ (117 ) $ (141 ) Total (losses) gains and settlements (6 ) 3 6 30 Balance at end of period $ (111 ) $ (111 ) $ (111 ) $ (111 ) |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 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 $ 350 $ 250 Amounts borrowed at September 30, 2020 350 475 350 250 Amounts borrowed at December 31, 2019 350 474 325 250 Restricted Receivables at September 30, 2020 479 770 559 506 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. September 30, 2020 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs Total Ohio Indiana Receivables from affiliated companies $ — $ (1 ) $ — $ (1 ) $ 45 $ 74 Other current assets 413 — — 413 — $ — Investments in equity method unconsolidated affiliates — 487 1 488 — — Deferred tax asset 26 — — 26 — — Total assets $ 439 $ 486 $ 1 $ 926 $ 45 $ 74 Other current liabilities 927 — 3 930 — — Other noncurrent liabilities 19 — 10 29 — — Total liabilities $ 946 $ — $ 13 $ 959 $ — $ — Net (liabilities) assets $ (507 ) $ 486 $ (12 ) $ (33 ) $ 45 $ 74 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) September 30, 2020 December 31, 2019 Receivables of VIEs $ 6 $ 5 Regulatory Assets: Current 53 52 Current Assets: Other 16 39 Other Noncurrent Assets: Regulatory assets 951 989 Current Liabilities: Other 2 10 Current maturities of long-term debt 55 54 Long-Term Debt 1,001 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) September 30, 2020 December 31, 2019 Current Assets: Other $ 319 $ 203 Property, Plant and Equipment: Cost 6,239 5,747 Accumulated depreciation and amortization (1,200 ) (1,041 ) Other Noncurrent Assets: Other 79 106 Current maturities of long-term debt 161 162 Long-Term Debt 1,452 1,541 Other Noncurrent Liabilities: AROs 150 127 Other Noncurrent Liabilities: Other 342 228 |
Pipeline Investments | VIE not primary beneficiary | |
Variable Interest Entities [Line Items] | |
Schedule Of Variable Interest Entities | For the three and nine months ended September 30, 2020 , the ACP investment is considered a significant subsidiary because its income (loss) exceeds 10% of Duke Energy’s income (loss). The table below presents unaudited summarized financial information for ACP. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 Net (Loss) Income $ (163 ) $ 65 $ (4,505 ) $ 178 The table below presents Duke Energy's ownership interest and investment balances in these joint ventures. VIE Investment Amount (in millions) Ownership September 30, December 31, Entity Name Interest 2020 2019 ACP (a) 47 % $ (927 ) $ 1,179 Constitution (b) 24 % — — Total $ (927 ) $ 1,179 (a) During the quarter ended June 30, 2020, Duke Energy determined that it would no longer continue its investment in ACP as described above. The current liability related to the cancellation of the ACP pipeline project represents Duke Energy's continuing obligation to fund its share of ACP's obligations. See Notes 1, 3 and 4 for more information. (b) During the year ended December 31, 2019, Duke Energy recorded an other-than-temporary impairment related to Constitution. This charge resulted in the full write-down of Duke Energy's investment in Constitution. |
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) September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Receivables sold $ 226 $ 253 $ 310 $ 307 Less: Retained interests 45 64 74 77 Net receivables sold $ 181 $ 189 $ 236 $ 230 The following table shows sales and cash flows related to receivables sold. Duke Energy Ohio Duke Energy Indiana Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Sales Receivables sold $ 462 $ 479 $ 1,428 $ 1,483 $ 717 $ 762 $ 1,947 $ 2,172 Loss recognized on sale 2 4 8 11 3 4 9 13 Cash flows Cash proceeds from receivables sold $ 449 $ 471 $ 1,439 $ 1,516 $ 689 $ 762 $ 1,941 $ 2,200 Collection fees received 1 — 1 1 — — 1 1 Return received on retained interests 1 1 3 5 1 2 4 7 |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | 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 $ 30 $ 92 $ 94 $ 44 $ 45 $ 58 $ 363 Duke Energy Progress 2 8 8 8 8 — 34 Duke Energy Florida 28 84 86 36 37 58 329 Duke Energy Indiana 2 5 — 7 12 36 62 Remaining Performance Obligations (in millions) 2020 2021 2022 2023 2024 Thereafter Total Piedmont $ 17 $ 65 $ 64 $ 61 $ 58 $ 377 $ 642 |
Disaggregation of Revenue | Disaggregated revenues are presented as follows: Three Months Ended September 30, 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 $ 2,936 $ 883 $ 1,550 $ 616 $ 934 $ 213 $ 289 $ — General 1,804 664 805 384 421 119 212 — Industrial 797 342 245 179 66 35 175 — Wholesale 603 117 412 358 54 10 64 — Other revenues 238 62 167 75 92 23 22 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 6,378 $ 2,068 $ 3,179 $ 1,612 $ 1,567 $ 400 $ 762 $ — Gas Utilities and Infrastructure Residential $ 112 $ — $ — $ — $ — $ 55 $ — $ 57 Commercial 64 — — — — 20 — 44 Industrial 24 — — — — 3 — 22 Power Generation — — — — — — — 10 Other revenues 16 — — — — 3 — 11 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 216 $ — $ — $ — $ — $ 81 $ — $ 144 Commercial Renewables Revenue from contracts with customers $ 57 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 7 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 6,658 $ 2,068 $ 3,179 $ 1,612 $ 1,567 $ 481 $ 762 $ 144 Other revenue sources (a) $ 63 $ (10 ) $ 18 $ 14 $ — $ (8 ) $ (1 ) $ 18 Total revenues $ 6,721 $ 2,058 $ 3,197 $ 1,626 $ 1,567 $ 473 $ 761 $ 162 (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 September 30, 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 $ 2,923 $ 892 $ 1,522 $ 625 $ 897 $ 215 $ 294 $ — General 1,885 687 843 399 444 127 225 — Industrial 869 372 255 189 66 40 204 — Wholesale 617 113 429 368 61 13 63 — Other revenues 198 76 118 70 48 18 22 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 6,492 $ 2,140 $ 3,167 $ 1,651 $ 1,516 $ 413 $ 808 $ — Gas Utilities and Infrastructure Residential $ 113 $ — $ — $ — $ — $ 53 $ — $ 59 Commercial 68 — — — — 21 — 47 Industrial 26 — — — — 4 — 25 Power Generation — — — — — — — 13 Other revenues 16 — — — — 3 — 13 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 223 $ — $ — $ — $ — $ 81 $ — $ 157 Commercial Renewables Revenue from contracts with customers $ 69 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 8 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 6,792 $ 2,140 $ 3,167 $ 1,651 $ 1,516 $ 494 $ 808 $ 157 Other revenue sources (a) $ 148 $ 22 $ 75 $ 37 $ 32 $ (5 ) $ (1 ) $ 11 Total revenues $ 6,940 $ 2,162 $ 3,242 $ 1,688 $ 1,548 $ 489 $ 807 $ 168 (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. Nine Months Ended September 30, 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 $ 7,451 $ 2,316 $ 3,792 $ 1,578 $ 2,214 $ 558 $ 785 $ — General 4,691 1,720 2,080 1,001 1,079 336 554 — Industrial 2,148 871 673 487 186 103 502 — Wholesale 1,535 332 1,018 877 141 22 163 — Other revenues 713 184 476 208 268 62 63 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 16,538 $ 5,423 $ 8,039 $ 4,151 $ 3,888 $ 1,081 $ 2,067 $ — Gas Utilities and Infrastructure Residential $ 631 $ — $ — $ — $ — $ 214 $ — $ 417 Commercial 308 — — — — 86 — 222 Industrial 92 — — — — 12 — 80 Power Generation — — — — — — — 27 Other revenues 58 — — — — 12 — 46 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 1,089 $ — $ — $ — $ — $ 324 $ — $ 792 Commercial Renewables Revenue from contracts with customers $ 170 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 20 $ — $ — $ — $ — $ — $ — $ — Total Revenue from contracts with customers $ 17,817 $ 5,423 $ 8,039 $ 4,151 $ 3,888 $ 1,405 $ 2,067 $ 792 Other revenue sources (a) $ 274 $ (7 ) $ 78 $ 56 $ 9 $ (11 ) $ 3 $ 79 Total revenues $ 18,091 $ 5,416 $ 8,117 $ 4,207 $ 3,897 $ 1,394 $ 2,070 $ 871 (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. Nine Months Ended September 30, 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 $ 7,597 $ 2,331 $ 3,879 $ 1,657 $ 2,222 $ 563 $ 825 $ — General 4,896 1,714 2,225 1,044 1,181 335 619 — Industrial 2,339 927 708 514 194 109 595 — Wholesale 1,685 341 1,133 992 141 36 176 — Other revenues 557 222 389 239 150 59 66 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 17,074 $ 5,535 $ 8,334 $ 4,446 $ 3,888 $ 1,102 $ 2,281 $ — Gas Utilities and Infrastructure Residential $ 673 $ — $ — $ — $ — $ 229 $ — $ 443 Commercial 359 — — — — 96 — 263 Industrial 103 — — — — 14 — 91 Power Generation — — — — — — — 39 Other revenues 101 — — — — 13 — 88 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 1,236 $ — $ — $ — $ — $ 352 $ — $ 924 Commercial Renewables Revenue from contracts with customers $ 157 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 18 $ — $ — $ — $ — $ — $ — $ — Total Revenue from contracts with customers $ 18,485 $ 5,535 $ 8,334 $ 4,446 $ 3,888 $ 1,454 $ 2,281 $ 924 Other revenue sources (a) $ 491 $ 84 $ 224 $ 113 $ 99 $ (1 ) $ 8 $ 32 Total revenues $ 18,976 $ 5,619 $ 8,558 $ 4,559 $ 3,987 $ 1,453 $ 2,289 $ 956 (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. Three Months Ended September 30, 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 June 30, 2020 $ 102 $ 14 $ 29 $ 14 $ 14 $ 5 $ 3 $ 6 Write-Offs 12 (2 ) 15 13 2 — — — Credit Loss Expense (9 ) — (16 ) (15 ) — — — 3 Other Adjustments 28 10 9 9 — — — — Balance at September 30, 2020 $ 133 $ 22 $ 37 $ 21 $ 16 $ 5 $ 3 $ 9 Nine Months Ended September 30, 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 (7 ) (8 ) 8 8 — — — (5 ) Credit Loss Expense 24 9 2 (5 ) 8 1 — 7 Other Adjustments 35 10 9 9 — — — — Balance at September 30, 2020 $ 133 $ 22 $ 37 $ 21 $ 16 $ 5 $ 3 $ 9 |
Aging of Trade Receivables | These receivables for unbilled revenues are shown in the table below. (in millions) September 30, 2020 December 31, 2019 Duke Energy Ohio $ 66 $ 82 Duke Energy Indiana 106 115 The aging of trade receivables is presented in the table below. Duke Energy considers receivables greater than 30 days outstanding past due. September 30, 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 $ 788 $ 284 $ 274 $ 139 $ 135 $ 1 $ 16 $ 5 0-30 days 1,800 475 847 439 406 44 23 66 30-60 days 227 86 84 48 36 7 2 8 60-90 days 94 39 31 20 11 3 1 3 90+ days 263 85 68 37 31 40 9 20 Trade and Other Receivables $ 3,172 $ 969 $ 1,304 $ 683 $ 619 $ 95 $ 51 $ 102 Unbilled revenues are included within Receivables and Receivables of VIEs on the Condensed Consolidated Balance Sheets as shown in the following table. (in millions) September 30, 2020 December 31, 2019 Duke Energy $ 788 $ 843 Duke Energy Carolinas 284 298 Progress Energy 274 217 Duke Energy Progress 139 122 Duke Energy Florida 135 95 Duke Energy Ohio 1 1 Duke Energy Indiana 16 16 Piedmont 5 78 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, (in millions, except per share amounts) 2020 2019 2020 2019 Net income available to Duke Energy common stockholders $ 1,265 $ 1,327 $ 1,347 $ 3,047 Accumulated preferred stock dividends adjustment 12 (2 ) 13 (2 ) Less: Impact of participating securities 1 1 2 4 Income from continuing operations available to Duke Energy common stockholders $ 1,276 $ 1,324 $ 1,358 $ 3,041 Weighted average common shares outstanding – basic 735 729 735 728 Equity forwards — — — — Weighted average common shares outstanding – diluted 735 729 735 728 EPS available to Duke Energy common stockholders Basic and diluted $ 1.74 $ 1.82 $ 1.85 $ 4.18 Potentially dilutive items excluded from the calculation (a) 2 2 2 2 Dividends declared per common share $ 0.965 $ 0.945 $ 2.855 $ 2.800 Dividends declared on Series A preferred stock per depositary share (b) $ 0.359 $ 0.359 $ 1.078 $ 0.667 Dividends declared on Series B preferred stock per share (c) $ 24.375 $ — $ 49.292 $ — (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) | 9 Months Ended |
Sep. 30, 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 September 30, 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 32 7 10 4 6 2 3 2 Amortization of prior service credit (8 ) (2 ) — — — — — (2 ) Amortization of settlement charges 11 6 5 5 1 — 1 1 Net periodic pension costs $ — $ 3 $ — $ 3 $ (1 ) $ — $ 1 $ (1 ) Three Months Ended September 30, 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 $ 42 $ 13 $ 13 $ 7 $ 5 $ 1 $ 2 $ 1 Interest cost on projected benefit obligation 77 17 24 10 14 5 6 2 Expected return on plan assets (140 ) (36 ) (45 ) (22 ) (22 ) (7 ) (11 ) (5 ) Amortization of actuarial loss 28 6 10 4 6 2 3 2 Amortization of prior service credit (8 ) (2 ) (1 ) — — — — (2 ) Net periodic pension costs $ (1 ) $ (2 ) $ 1 $ (1 ) $ 3 $ 1 $ — $ (2 ) Nine Months Ended September 30, 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 $ 124 $ 38 $ 36 $ 20 $ 16 $ 3 $ 6 $ 4 Interest cost on projected benefit obligation 202 47 64 29 35 12 17 7 Expected return on plan assets (429 ) (108 ) (143 ) (66 ) (76 ) (21 ) (32 ) (16 ) Amortization of actuarial loss 96 21 30 13 17 5 9 7 Amortization of prior service credit (24 ) (6 ) (2 ) (1 ) (1 ) — (1 ) (7 ) Amortization of settlement charges 16 8 6 6 1 — 1 1 Net periodic pension costs $ (15 ) $ — $ (9 ) $ 1 $ (8 ) $ (1 ) $ — $ (4 ) Nine Months Ended September 30, 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 $ 116 $ 37 $ 34 $ 19 $ 15 $ 3 $ 6 $ 4 Interest cost on projected benefit obligation 242 58 76 34 41 14 19 8 Expected return on plan assets (426 ) (111 ) (134 ) (66 ) (66 ) (21 ) (32 ) (16 ) Amortization of actuarial loss 77 17 28 10 18 3 6 5 Amortization of prior service credit (24 ) (6 ) (2 ) (1 ) (1 ) — (1 ) (7 ) Net periodic pension costs $ (15 ) $ (5 ) $ 2 $ (4 ) $ 7 $ (1 ) $ (2 ) $ (6 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 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 Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Duke Energy 7.8 % 12.4 % (6.4 )% 12.5 % Duke Energy Carolinas 12.0 % 16.7 % 13.6 % 17.7 % Progress Energy 10.4 % 15.3 % 13.4 % 16.2 % Duke Energy Progress 3.1 % 14.7 % 10.0 % 16.1 % Duke Energy Florida 21.4 % 16.5 % 20.3 % 18.0 % Duke Energy Ohio 16.7 % 12.9 % 16.6 % 15.2 % Duke Energy Indiana 19.6 % 23.2 % 19.4 % 23.7 % Piedmont 16.7 % 35.7 % 3.7 % 18.5 % |
Organization and Basis of Pre_4
Organization and Basis of Presentation (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Noncontrolling Interest [Line Items] | |||||
Incurred costs | $ 1,450,000,000 | $ 1,484,000,000 | $ 4,142,000,000 | $ 4,337,000,000 | |
Current Liabilities: Other | 2,829,000,000 | 2,829,000,000 | $ 2,367,000,000 | ||
ACP | |||||
Noncontrolling Interest [Line Items] | |||||
Current Liabilities: Other | 935,000,000 | 935,000,000 | 0 | ||
Piedmont Natural Gas | |||||
Noncontrolling Interest [Line Items] | |||||
Incurred costs | 75,000,000 | $ 78,000,000 | 234,000,000 | $ 241,000,000 | |
Current Liabilities: Other | 59,000,000 | 59,000,000 | 67,000,000 | ||
Piedmont Natural Gas | Other | |||||
Noncontrolling Interest [Line Items] | |||||
Prepaid assets | 23,000,000 | 23,000,000 | $ 3,000,000 | ||
Incremental COVID-19 costs | |||||
Noncontrolling Interest [Line Items] | |||||
Incurred costs | 39,000,000 | 91,000,000 | |||
Deferred costs | 56,000,000 | 56,000,000 | |||
Waived late payment fees | $ 29,000,000 | $ 54,000,000 |
Organization and Basis of Pre_5
Organization and Basis of Presentation (Schedule of Cash Received and Allocated Losses from Subsidiaries, Noncontrolling Interest) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Cash received for the sale of noncontrolling interest to tax equity members | $ 239 | $ 7 | $ 402 | $ 200 |
Cash received for the sale of noncontrolling interest to pro rata share members | 0 | 0 | 0 | 415 |
Total Noncontrolling Interest Capital Contributions | 239 | 7 | 402 | 615 |
Allocated losses to noncontrolling tax equity members utilizing the HLBV method | 59 | 15 | 187 | 105 |
Allocated losses to noncontrolling members based on pro rata shares of ownership | 11 | 4 | 21 | 5 |
Total Noncontrolling Interest Allocated Losses | $ 70 | $ 19 | $ 208 | $ 110 |
Organization and Basis of Pre_6
Organization and Basis of Presentation (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Current Assets | ||||
Cash and cash equivalents | $ 308 | $ 311 | ||
Other | 187 | 222 | ||
Other Noncurrent Assets | ||||
Other | 105 | 40 | ||
Total cash, cash equivalents and restricted cash | 600 | 573 | $ 582 | $ 591 |
Progress Energy | ||||
Current Assets | ||||
Cash and cash equivalents | 70 | 48 | ||
Other | 16 | 39 | ||
Other Noncurrent Assets | ||||
Other | 102 | 39 | ||
Total cash, cash equivalents and restricted cash | 188 | 126 | 136 | 112 |
Duke Energy Florida | ||||
Current Assets | ||||
Cash and cash equivalents | 19 | 17 | ||
Other | 16 | 39 | ||
Other Noncurrent Assets | ||||
Total cash, cash equivalents and restricted cash | $ 35 | $ 56 | $ 40 | $ 75 |
Organization and Basis of Pre_7
Organization and Basis of Presentation (Schedule of Inventory) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Public Utilities, Inventory [Line Items] | ||
Inventory | $ 3,190 | $ 3,232 |
Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 2,341 | 2,297 |
Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 546 | 586 |
Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 303 | 349 |
Duke Energy Carolinas | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 992 | 996 |
Duke Energy Carolinas | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 779 | 768 |
Duke Energy Carolinas | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 173 | 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 | 1,378 | 1,423 |
Progress Energy | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 1,021 | 1,038 |
Progress Energy | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 168 | 186 |
Progress Energy | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 189 | 199 |
Duke Energy Progress | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 910 | 934 |
Duke Energy Progress | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 682 | 686 |
Duke Energy Progress | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 120 | 138 |
Duke Energy Progress | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 108 | 110 |
Duke Energy Florida | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 468 | 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 | 48 | 48 |
Duke Energy Florida | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 80 | 90 |
Duke Energy Ohio | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 130 | 135 |
Duke Energy Ohio | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 79 | 79 |
Duke Energy Ohio | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 12 | 15 |
Duke Energy Ohio | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 39 | 41 |
Duke Energy Indiana | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 507 | 517 |
Duke Energy Indiana | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 314 | 318 |
Duke Energy Indiana | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 192 | 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 | 47 | 72 |
Piedmont Natural Gas | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 13 | 5 |
Piedmont Natural Gas | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | $ 34 | $ 67 |
Organization and Basis of Pre_8
Organization and Basis of Presentation (Schedule of New Accounting Pronouncements) (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Sep. 30, 2020 | Jun. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | $ 47,951 | $ 47,295 | $ 46,611 | $ 47,407 | $ 45,332 | $ 43,834 |
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201613Member | |||||
Progress Energy | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | $ 15,593 | 16,429 | 16,221 | 15,363 | 14,839 | 14,257 |
Retained Earnings | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | 4,108 | 3,260 | 2,707 | 4,139 | 3,502 | 3,113 |
Retained Earnings | Progress Energy | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | 6,465 | $ 7,296 | $ 7,090 | $ 6,236 | $ 5,715 | $ 5,131 |
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | 120 | |||||
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Duke Energy Carolinas | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | 16 | |||||
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Progress Energy | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | 2 | |||||
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Duke Energy Progress | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | 1 | |||||
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Duke Energy Florida | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | 1 | |||||
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Piedmont Natural Gas | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total pretax impact to Retained Earnings | $ 1 |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2020USD ($)segment | |
Duke Energy Ohio | |
Segment Reporting Information [Line Items] | |
Number of reportable segments | segment | 2 |
Wind and solar | Nonregulated | |
Segment Reporting Information [Line Items] | |
Renewable merchant plants | $ | $ 150 |
Joint owner ownership percentage | 51.00% |
Business Segments (Business Seg
Business Segments (Business Segment Data) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||||
Operating revenues | $ 6,721 | $ 6,940 | $ 18,091 | $ 18,976 | |
Segment income (loss) | 1,265 | 1,327 | 1,347 | 3,047 | |
Less: Noncontrolling interests | (70) | (19) | (208) | (110) | |
Add: Preferred stock dividend | 39 | 15 | 93 | 27 | |
Net Income | 1,234 | 1,323 | 1,232 | 2,964 | |
Segment assets | 161,409 | 161,409 | $ 158,838 | ||
Impairment charges | 28 | (20) | 36 | (16) | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 1,339 | 1,511 | 1,158 | 3,388 | |
Equity in losses (earnings) of unconsolidated affiliates | 80 | (50) | 2,004 | (137) | |
Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 6,371 | 6,569 | 16,571 | 17,357 | |
Gas Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 217 | 225 | 1,122 | 1,239 | |
Commercial Renewables | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 126 | 138 | 378 | 362 | |
Total Reportable Segments | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 6,714 | 6,932 | 18,071 | 18,958 | |
Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 7 | 8 | 20 | 18 | |
Operating Segments | Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 6,379 | 6,577 | 16,596 | 17,381 | |
Segment income (loss) | 1,381 | 1,385 | 2,839 | 2,944 | |
Segment assets | 138,142 | 138,142 | |||
Operating Segments | Gas Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 241 | 249 | 1,194 | 1,311 | |
Segment income (loss) | (73) | 26 | (1,400) | 292 | |
Segment assets | 13,343 | 13,343 | |||
Equity in losses (earnings) of unconsolidated affiliates | (78) | (2,100) | |||
Operating Segments | Commercial Renewables | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 126 | 138 | 378 | 362 | |
Segment income (loss) | 60 | 40 | 207 | 139 | |
Segment assets | 6,541 | 6,541 | |||
Operating Segments | Total Reportable Segments | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 6,746 | 6,964 | 18,168 | 19,054 | |
Segment income (loss) | 1,368 | 1,451 | 1,646 | 3,375 | |
Segment assets | 158,026 | 158,026 | |||
Other | |||||
Segment Reporting Information [Line Items] | |||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 98 | ||||
Other | Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 24 | 25 | 73 | 71 | |
Segment income (loss) | (103) | (124) | (299) | (328) | |
Segment assets | 3,387 | 3,387 | |||
Eliminations | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | (49) | (49) | (150) | (149) | |
Segment assets | (4) | (4) | |||
Eliminations | Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 8 | 8 | 25 | 24 | |
Eliminations | Gas Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 24 | 24 | 72 | 72 | |
Eliminations | Total Reportable Segments | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 32 | 32 | 97 | 96 | |
Eliminations | Other | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 17 | 17 | 53 | 53 | |
Duke Energy Carolinas | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 2,058 | 2,162 | 5,416 | 5,619 | |
Segment assets | 45,048 | 45,048 | 44,053 | ||
Impairment charges | 20 | 6 | 22 | 11 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 631 | 708 | 1,306 | 1,439 | |
Duke Energy Ohio | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 473 | 489 | 1,394 | 1,453 | |
Segment income (loss) | 70 | 74 | 201 | 190 | |
Segment assets | 9,749 | 9,749 | 9,338 | ||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 84 | 85 | 241 | 224 | |
Duke Energy Ohio | Operating Segments | Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 394 | 408 | 1,070 | 1,099 | |
Segment income (loss) | 63 | 62 | 137 | 129 | |
Segment assets | 6,448 | 6,448 | |||
Duke Energy Ohio | Operating Segments | Gas Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 79 | 81 | 324 | 354 | |
Segment income (loss) | 9 | 13 | 68 | 65 | |
Segment assets | 3,297 | 3,297 | |||
Duke Energy Ohio | Operating Segments | Total Reportable Segments | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 473 | 489 | 1,394 | 1,453 | |
Segment income (loss) | 72 | 75 | 205 | 194 | |
Segment assets | 9,745 | 9,745 | |||
Duke Energy Ohio | Other | Other | |||||
Segment Reporting Information [Line Items] | |||||
Segment income (loss) | (2) | (1) | (4) | (4) | |
Segment assets | 27 | 27 | |||
Duke Energy Ohio | Eliminations | |||||
Segment Reporting Information [Line Items] | |||||
Segment assets | (23) | (23) | |||
Duke Energy Progress | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 1,626 | 1,688 | 4,207 | 4,559 | |
Segment assets | 33,861 | 33,861 | 33,377 | ||
Impairment charges | 5 | 5 | |||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 357 | 326 | 790 | 775 | |
Piedmont Natural Gas | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 162 | 168 | 871 | 956 | |
Segment assets | 8,212 | 8,212 | 7,756 | ||
Impairment charges | 7 | 7 | |||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (30) | (28) | 161 | 119 | |
Equity in losses (earnings) of unconsolidated affiliates | (7) | (6) | |||
Duke Energy Florida | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 1,567 | 1,548 | 3,897 | 3,987 | |
Segment assets | 20,815 | 20,815 | $ 20,454 | ||
Impairment charges | (4) | (25) | (4) | (25) | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 365 | 346 | 782 | 715 | |
ACP | ACP | |||||
Segment Reporting Information [Line Items] | |||||
Equity in losses (earnings) of unconsolidated affiliates | 2,100 | ||||
ACP | Piedmont Natural Gas | ACP | |||||
Segment Reporting Information [Line Items] | |||||
Impairment charges | (7) | ||||
Operations, maintenance and other | Duke Energy Carolinas | Operating Segments | Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 8 | 8 | |||
Operations, maintenance and other | Duke Energy Progress | Operating Segments | Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 8 | 8 | |||
Impairment charges | Duke Energy Carolinas | Operating Segments | Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Impairment charges | 19 | 19 | |||
Impairment charges | Piedmont Natural Gas | Operating Segments | Gas Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Impairment charges | 7 | ||||
Impairment charges | Duke Energy Florida | Operating Segments | Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Reduction of prior year impairment | $ 25 | ||||
Impairment charges | ACP | Duke Energy Progress | Operating Segments | Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Impairment charges | $ 5 | $ 5 | |||
Revision of Prior Period, Adjustment [Member] | Impairment charges | Duke Energy Florida | Operating Segments | Electric Utilities and Infrastructure | |||||
Segment Reporting Information [Line Items] | |||||
Impairment charges | $ (25) |
Regulatory Matters (Regulatory
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Carolinas) (Details) - USD ($) $ in Millions | Oct. 26, 2020 | Jul. 31, 2020 | Oct. 30, 2019 | Sep. 30, 2019 | May 21, 2019 | Nov. 08, 2018 | Feb. 28, 2018 | Nov. 22, 2017 | Aug. 25, 2017 | Jun. 01, 2017 |
Duke Energy Carolinas | NCUC | 2017 North Carolina Rate Case | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amount | $ 647 | |||||||||
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% | |||||||||
Duke Energy Carolinas | NCUC | 2019 North Carolina Rate Case | ||||||||||
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 | |||||||||
Duke Energy Carolinas | NCUC | 2019 North Carolina Rate Case, additional Agreement and Stipulation of Partial Settlement | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amended amount | $ 800 | |||||||||
Requested return on equity, percent | 9.60% | |||||||||
Public utilities, requested equity capital structure, percentage | 52.00% | |||||||||
Public utilities, requested debt capital structure, percentage | 48.00% | |||||||||
Regulatory asset, amortization period | 5 years | |||||||||
Duke Energy Carolinas | NCUC | Annual revenue requirement | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amended amount | $ 45 | |||||||||
Duke Energy Carolinas | NCUC | Annual revenue requirement | Subsequent event | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amended amount | $ 262 | |||||||||
Duke Energy Carolinas | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amount | $ 168 | |||||||||
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% | |||||||||
Change in tax rate, deferred tax liability, income tax benefit | $ 66 | |||||||||
Measurement period adjustment, income tax expense (benefit) | $ 45 | |||||||||
Duke Energy Carolinas | PSCSC | South Carolina Rate Case 2018 | State and local jurisdiction | North Carolina Department of Revenue | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory asset, amortization period | 5 years | |||||||||
State and local taxes reduction amount | $ 17 | |||||||||
Duke Energy Carolinas | Asset retirement obligations - coal ash | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory assets | $ 96 | |||||||||
Regulatory asset, amortization period | 5 years | |||||||||
Recovery costs denied | $ 115 | |||||||||
Duke Energy Carolinas | Asset retirement obligations - unprotected EDIT, Property, Plant and Equipment | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory asset, amortization period | 20 years | |||||||||
Duke Energy Carolinas | Asset retirement obligations - unprotected EDIT | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory asset, amortization period | 5 years | |||||||||
Duke Energy Carolinas | Asset retirement obligations - deferred revenue | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory asset, amortization period | 5 years | |||||||||
Duke Energy Carolinas | Deferred project costs | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory assets | $ 125 | |||||||||
Regulatory asset, amortization period | 12 years | |||||||||
Duke Energy Progress [Member] | NCUC | 2017 North Carolina Rate Case | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amended amount | $ 420 | |||||||||
Requested rate increase (decrease), amount | $ 477 | |||||||||
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% | |||||||||
Duke Energy Progress [Member] | NCUC | 2019 North Carolina Rate Case | ||||||||||
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 | |||||||||
Requested rate increase (decrease), rider reduction | $ 120 | |||||||||
Duke Energy Progress [Member] | NCUC | 2019 North Carolina Rate Case, additional Agreement and Stipulation of Partial Settlement | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amended amount | $ 500 | |||||||||
Requested return on equity, percent | 9.60% | |||||||||
Public utilities, requested equity capital structure, percentage | 52.00% | |||||||||
Public utilities, requested debt capital structure, percentage | 48.00% | |||||||||
Regulatory asset, amortization period | 5 years | |||||||||
Duke Energy Progress [Member] | NCUC | Annual revenue requirement | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amended amount | $ 25 | |||||||||
Duke Energy Progress [Member] | NCUC | Annual revenue requirement | Subsequent event | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amended amount | $ 842 | |||||||||
Duke Energy Progress [Member] | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Requested rate increase (decrease), amount | $ 59 | |||||||||
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% | |||||||||
Change in tax rate, deferred tax liability, income tax benefit | $ (17) | |||||||||
Measurement period adjustment, income tax expense (benefit) | 12 | |||||||||
Duke Energy Progress [Member] | PSCSC | South Carolina Rate Case 2018 | State and local jurisdiction | North Carolina Department of Revenue | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
State and local taxes reduction amount | (12) | |||||||||
Duke Energy Progress [Member] | Asset retirement obligations - coal ash | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory assets | $ 4 | |||||||||
Regulatory asset, amortization period | 5 years | |||||||||
Recovery costs denied | $ 65 | |||||||||
Duke Energy Progress [Member] | Asset retirement obligations - unprotected EDIT, Property, Plant and Equipment | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory asset, amortization period | 20 years | |||||||||
Duke Energy Progress [Member] | Asset retirement obligations - unprotected EDIT | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory asset, amortization period | 5 years | |||||||||
Duke Energy Progress [Member] | Asset retirement obligations - deferred revenue | PSCSC | South Carolina Rate Case 2018 | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory asset, amortization period | 3 years | |||||||||
15-year storm recovery bond | Duke Energy Carolinas | Subsequent event | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Bond term | 15 years |
Regulatory Matters (Regulator_2
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Progress) (Details) - Duke Energy Progress $ in Millions | Oct. 26, 2020USD ($) | Oct. 16, 2020 | Jul. 31, 2020USD ($) | Jun. 17, 2020USD ($) | Jan. 29, 2020USD ($)MW | Oct. 30, 2019USD ($) | Oct. 11, 2019 | May 21, 2019USD ($) | Nov. 08, 2018USD ($) | Nov. 22, 2017 | Jun. 01, 2017USD ($) | Sep. 30, 2020USD ($) | Jul. 27, 2020MW | Jul. 01, 2020USD ($) | Feb. 07, 2020USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) |
2017 North Carolina Rate Case | NCUC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease), amount | $ 477 | ||||||||||||||||
Requested rate increase (decrease), amended amount | $ 420 | ||||||||||||||||
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 | ||||||||||||||||
2019 North Carolina Rate Case, additional Agreement and Stipulation of Partial Settlement | NCUC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease), amended amount | $ 500 | ||||||||||||||||
Requested return on equity, percent | 9.60% | ||||||||||||||||
Public utilities, requested equity capital structure, percentage | 52.00% | ||||||||||||||||
Public utilities, requested debt capital structure, percentage | 48.00% | ||||||||||||||||
Regulatory asset, amortization period | 5 years | ||||||||||||||||
Annual revenue requirement | NCUC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease), amended amount | $ 25 | ||||||||||||||||
Annual revenue requirement | Subsequent event | NCUC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease), amended amount | $ 842 | ||||||||||||||||
Hurricane Dorian storm damage | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Estimated storm costs - O&M | $ 168 | ||||||||||||||||
Estimated storm costs - capital investments | $ 4 | ||||||||||||||||
Hurricane Dorian storm damage | PSCSC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Storm deferral - O&M | $ 22 | ||||||||||||||||
Requested supplemental true-up | $ 17 | ||||||||||||||||
Hurricane Dorian storm damage | Storm costs | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory assets | $ 145 | $ 179 | |||||||||||||||
South Carolina Rate Case 2018 | PSCSC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease), amount | $ 59 | ||||||||||||||||
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% | ||||||||||||||||
Change in tax rate, deferred tax liability, income tax benefit | $ 17 | ||||||||||||||||
Measurement period adjustment, income tax expense (benefit) | 12 | ||||||||||||||||
South Carolina Rate Case 2018 | State and local jurisdiction | North Carolina Department of Revenue | PSCSC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
State and local taxes increase amount | 12 | ||||||||||||||||
South Carolina Rate Case 2018 | Asset retirement obligations - coal ash | PSCSC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory assets | 4 | ||||||||||||||||
Recovery costs denied | $ 65 | ||||||||||||||||
Regulatory asset, amortization period | 5 years | ||||||||||||||||
South Carolina Rate Case 2018 | Asset retirement obligations - unprotected EDIT, Property, Plant and Equipment | PSCSC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory asset, amortization period | 20 years | ||||||||||||||||
South Carolina Rate Case 2018 | Asset retirement obligations - unprotected EDIT | PSCSC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory asset, amortization period | 5 years | ||||||||||||||||
South Carolina Rate Case 2018 | Asset retirement obligations - deferred revenue | PSCSC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory asset, amortization period | 3 years | ||||||||||||||||
Western Carolinas Modernization Plan | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Generation capacity (MW) | MW | 5 | ||||||||||||||||
Western Carolinas Modernization Plan | Asheville Plant | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Capacity (in MW) | MW | 376 | ||||||||||||||||
Generation facilities retired, net | $ 214 | ||||||||||||||||
Western Carolinas Modernization Plan | Depreciation expense, property taxes, incremental O&M and carrying costs | PSCSC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Approved annual rate increase (decrease), amount | $ 8 | ||||||||||||||||
FERC Return on Equity Complaint, NCEMPA | FERC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Approved return on equity percentage | 11.00% | ||||||||||||||||
FERC Return on Equity Complaint, NCEMC | Subsequent event | FERC | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Approved return on equity percentage | 11.00% |
Regulatory Matters (Regulator_3
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Florida) (Details) - Duke Energy Florida $ in Millions | Jul. 01, 2020USD ($)plantMW | Sep. 30, 2020USD ($) | May 19, 2020USD ($) | Apr. 02, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 19, 2019USD ($) | Nov. 22, 2019USD ($) | Apr. 30, 2019USD ($) |
FPSC | ||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||
Accelerated fuel cost refund | $ 78 | |||||||
Number of solar plants | plant | 10 | |||||||
Generation capacity (MW) | MW | 750 | |||||||
Hurricane Michael storm damage | ||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||
Estimated storm costs - capital and operation maintenance | $ 119 | $ 204 | ||||||
Hurricane Michael storm damage | FPSC | ||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||
Estimated storm costs - capital and operation maintenance | $ 223 | |||||||
Amount of recovery costs sought | $ 188 | $ 191 | ||||||
Requested supplemental true-up | $ 3 | |||||||
Hurricane Dorian storm damage | ||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||
Estimated storm costs - capital and operation maintenance | 38 | $ 167 | ||||||
Hurricane Dorian storm damage | FPSC | ||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||
Estimated storm costs - capital and operation maintenance | $ 169 | |||||||
Actual storm costs - capital and operation maintenance | $ 145 | |||||||
Solar Project | ||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||
Estimated cost of facilities | $ 1,000 | |||||||
Estimated cost of facilities period | 4 years |
Regulatory Matters (Regulator_4
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Ohio) (Details) $ in Millions | Oct. 16, 2020USD ($) | Apr. 27, 2020USD ($) | Jan. 31, 2020USD ($) | Sep. 03, 2019USD ($) | Apr. 13, 2018USD ($) | Mar. 31, 2017USD ($) | Sep. 30, 2020USD ($)site | Jul. 23, 2020USD ($) | Mar. 31, 2020USD ($) | Jul. 12, 2019USD ($) | Mar. 29, 2019USD ($) | Sep. 28, 2018USD ($) |
Duke Energy Ohio | Ohio Base Rate Case 2017 | PUCO | ||||||||||||
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) | |||||||||||
Duke Energy Ohio | Ohio Base Rate Case 2017 | PUCO | Maximum | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Requested rider revenue increase | $ 10 | |||||||||||
Duke Energy Ohio | Natural Gas Pipeline extension | OPSB | Minimum | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Estimated capital cost excluding AFUDC | $ 163 | |||||||||||
Duke Energy Ohio | Natural Gas Pipeline extension | OPSB | Maximum | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Estimated capital cost excluding AFUDC | $ 245 | |||||||||||
Duke Energy Ohio | MGP Cost Recovery - 2009 Through 2012 | PUCO | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Number of environmental remediation sites | site | 2 | |||||||||||
Regulatory assets | $ 55 | |||||||||||
Duke Energy Ohio | MGP Cost Recovery - 2013 Through 2017 | PUCO | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Regulatory assets | $ 26 | |||||||||||
Duke Energy Ohio | MGP Cost Recovery - 2013 Through 2017 | PUCO | MGP Costs - regulatory disallowance | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Regulatory assets | $ 12 | |||||||||||
Duke Energy Ohio | MGP Cost Recovery - 2018 | PUCO | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Regulatory assets | $ 20 | |||||||||||
Duke Energy Ohio | MGP Cost Recovery - 2018 | PUCO | MGP Costs - regulatory disallowance | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Regulatory assets | $ 11 | |||||||||||
Duke Energy Ohio | MGP Cost Recovery - 2019 | PUCO | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Regulatory assets | $ 4 | $ 39 | ||||||||||
Duke Energy Kentucky | Duke Energy Kentucky Electric base rate case | KPSC | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Requested rate increase (decrease), amount | $ 46 | |||||||||||
Requested rate increase (decrease), amended amount | $ 44 | |||||||||||
Approved rate increase (decrease), amount | $ 24 | |||||||||||
Approved return on equity percentage | 9.25% | |||||||||||
Duke Energy Kentucky | Duke Energy Kentucky Electric base rate case | KPSC | Subsequent event | ||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||
Approved rate increase (decrease), amount | $ 28 | |||||||||||
Approved additional increase | $ 4 |
Regulatory Matters (Regulator_5
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Indiana) (Details) - Duke Energy Indiana - IURC - Indiana rate case 2019 - USD ($) $ in Millions | Jun. 29, 2020 | Dec. 04, 2019 | Jul. 02, 2019 |
Public Utilities, General Disclosures [Line Items] | |||
Requested rate increase (decrease), amount | $ 395 | ||
Requested rate increase, percentage, net of tax | 15.60% | ||
Requested rate increase (decrease), amended amount | $ 396 | ||
Approved rate increase, amount | $ 146 | ||
Public utilities, approved rate increase (decrease), percentage | 5.70% | ||
Approved return on equity percentage | 9.70% | ||
Public utilities, approved equity capital structure, percentage | 53.00% | ||
Rate base | $ 10,200 | ||
Reduction of requested rate base | $ 200 | ||
Reduction due to depreciation methodology | 50.00% | ||
Reduction due to approved return on equity | 20.00% | ||
Requested return on equity, percent | 10.40% | ||
Reduction due to earnings adjustments | 20.00% | ||
Estimated step one rate | 75.00% | ||
Estimated step two rate | 25.00% |
Regulatory Matters (Regulator_6
Regulatory Matters (Regulatory Matters Narrative - Piedmont) (Details) - 2020 Tennessee Rate Case - TPUC - Piedmont Natural Gas $ in Millions | Jul. 02, 2020USD ($) |
Public Utilities, General Disclosures [Line Items] | |
Requested rate increase (decrease), amount | $ 30 |
Increase in annual revenue, percent | 15.00% |
Regulatory Matters (Other Regul
Regulatory Matters (Other Regulatory Matters) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Public Utilities, General Disclosures [Line Items] | |||||
Equity in losses (earnings) of unconsolidated affiliates | $ 80,000,000 | $ (50,000,000) | $ 2,004,000,000 | $ (137,000,000) | |
Income tax benefit | 105,000,000 | 188,000,000 | (74,000,000) | 424,000,000 | |
Current Liabilities: Other | 2,829,000,000 | 2,829,000,000 | $ 2,367,000,000 | ||
Asset retirement obligations | 742,000,000 | 742,000,000 | 881,000,000 | ||
Duke Energy Carolinas | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Income tax benefit | 76,000,000 | 118,000,000 | 178,000,000 | 255,000,000 | |
Current Liabilities: Other | 487,000,000 | 487,000,000 | 611,000,000 | ||
Asset retirement obligations | 267,000,000 | 267,000,000 | 206,000,000 | ||
Duke Energy Progress | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Income tax benefit | 11,000,000 | $ 48,000,000 | 79,000,000 | $ 125,000,000 | |
Current Liabilities: Other | 389,000,000 | 389,000,000 | 478,000,000 | ||
Asset retirement obligations | 297,000,000 | 297,000,000 | 485,000,000 | ||
ACP | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Current Liabilities: Other | 935,000,000 | 935,000,000 | $ 0 | ||
ACP | ACP | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Equity in losses (earnings) of unconsolidated affiliates | 2,100,000,000 | ||||
Income tax benefit | 389,000,000 | ||||
Expected costs (less than) | 50,000,000 | 50,000,000 | |||
Current Liabilities: Other | 927,000,000 | 927,000,000 | |||
Other Noncurrent Liabilities | 19,000,000 | 19,000,000 | |||
ACP | ACP | Current liabilities | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Guarantees of outstanding debt | 860,000,000 | 860,000,000 | |||
Asset retirement obligations | $ 86,000,000 | $ 86,000,000 | |||
ACP | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 47.00% | 47.00% |
Regulatory Matters (Schedule of
Regulatory Matters (Schedule of Net Carrying Value Of Facilities and Megawatt Capacity) (Details) $ in Millions | 9 Months Ended | |
Sep. 30, 2020USD ($)MW | Dec. 31, 2019USD ($) | |
Public Utilities, General Disclosures [Line Items] | ||
Public utilities, property, plant and equipment, net | $ 105,760 | $ 102,127 |
Duke Energy Carolinas | ||
Public Utilities, General Disclosures [Line Items] | ||
Public utilities, property, plant and equipment, net | 33,216 | 32,397 |
Duke Energy Progress | ||
Public Utilities, General Disclosures [Line Items] | ||
Public utilities, property, plant and equipment, net | 22,960 | 22,934 |
Duke Energy Indiana | ||
Public Utilities, General Disclosures [Line Items] | ||
Public utilities, property, plant and equipment, net | $ 11,644 | $ 11,072 |
Generation facilities to be retired | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 8,178 | |
Public utilities, property, plant and equipment, net | $ 4,706 | |
Generation facilities to be retired | Duke Energy Carolinas | Allen Steam Station Units 1-3 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 582 | |
Public utilities, property, plant and equipment, net | $ 141 | |
Generation facilities to be retired | Duke Energy Carolinas | Allen Steam Station Units 4-5 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 516 | |
Public utilities, property, plant and equipment, net | $ 321 | |
Generation facilities to be retired | Duke Energy Carolinas | Cliffside Unit 5 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 544 | |
Public utilities, property, plant and equipment, net | $ 355 | |
Generation facilities to be retired | Duke Energy Progress | Mayo Unit 1 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 727 | |
Public utilities, property, plant and equipment, net | $ 673 | |
Generation facilities to be retired | Duke Energy Progress | Roxboro Units 3-4 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 1,392 | |
Public utilities, property, plant and equipment, net | $ 486 | |
Generation facilities to be retired | Duke Energy Indiana | Gallagher Units 2 and 4 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 280 | |
Public utilities, property, plant and equipment, net | $ 112 | |
Generation facilities to be retired | Duke Energy Indiana | Gibson Units 1-5 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 3,132 | |
Public utilities, property, plant and equipment, net | $ 1,683 | |
Generation facilities to be retired | Duke Energy Indiana | Cayuga Units 1-2 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 1,005 | |
Public utilities, property, plant and equipment, net | $ 935 |
Commitments and Contingencies_2
Commitments and Contingencies (Schedule of Environmental Loss Contingencies) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Environmental Matters Details [Line Items] | ||
Reserves for Environmental Remediation | $ 66 | $ 58 |
Environmental exit costs, reasonably possible additional loss | 56 | |
Duke Energy Carolinas | ||
Environmental Matters Details [Line Items] | ||
Reserves for Environmental Remediation | 16 | 11 |
Environmental exit costs, reasonably possible additional loss | 12 | |
Progress Energy | ||
Environmental Matters Details [Line Items] | ||
Reserves for Environmental Remediation | 15 | 16 |
Duke Energy Progress | ||
Environmental Matters Details [Line Items] | ||
Reserves for Environmental Remediation | 5 | 4 |
Duke Energy Florida | ||
Environmental Matters Details [Line Items] | ||
Reserves for Environmental Remediation | 8 | 9 |
Duke Energy Ohio | ||
Environmental Matters Details [Line Items] | ||
Reserves for Environmental Remediation | 22 | 19 |
Environmental exit costs, reasonably possible additional loss | 38 | |
Duke Energy Indiana | ||
Environmental Matters Details [Line Items] | ||
Reserves for Environmental Remediation | 5 | 4 |
Piedmont Natural Gas | ||
Environmental Matters Details [Line Items] | ||
Reserves for Environmental Remediation | $ 8 | $ 8 |
Commitments and Contingencies_3
Commitments and Contingencies (Narrative) (Details) $ in Millions | Jun. 18, 2018USD ($) | Sep. 30, 2020USD ($)plantclaim | Jan. 01, 2020USD ($) | Dec. 31, 2019USD ($) |
ASU 2016-13 | ACP | ||||
Loss Contingencies [Line Items] | ||||
Reserve for credit losses for financial guarantees | $ 95 | |||
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 | $ 578 | $ 604 | ||
Reinsurance retention policy, excess retention, amount reinsured | 714 | |||
Probable insurance recoveries | $ 704 | $ 742 | ||
Duke Energy Carolinas | Asbestos-related Injuries and Damages Claims | Non-malignant cases | ||||
Loss Contingencies [Line Items] | ||||
Loss contingency, pending claims, number | claim | 159 | |||
Asbestos-related injuries and damages reserves | $ 41 | |||
Duke Energy Carolinas | Asbestos-related Injuries and Damages Claims | Malignant cases | ||||
Loss Contingencies [Line Items] | ||||
Loss contingency, pending claims, number | claim | 68 | |||
Asbestos-related injuries and damages reserves | $ 23 | |||
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 | |||
Other Noncurrent Liabilities | ASU 2016-13 | ||||
Loss Contingencies [Line Items] | ||||
Reserve for credit losses for financial guarantees | 4 | |||
ACP | Other Current Liabilities | ACP | ||||
Loss Contingencies [Line Items] | ||||
Guarantees of outstanding debt | $ 860 |
Commitments and Contingencies_4
Commitments and Contingencies (Schedule of Legal Reserves) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Loss Contingencies [Line Items] | ||
Reserves for legal matters | $ 60 | $ 62 |
Duke Energy Carolinas | ||
Loss Contingencies [Line Items] | ||
Reserves for legal matters | 2 | 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 ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Debt Instrument [Line Items] | ||
Debt issuances | $ 5,550,000,000 | |
Repayments of long-term debt | 3,468,000,000 | $ 2,737,000,000 |
Duke Energy (Parent) | ||
Debt Instrument [Line Items] | ||
Debt issuances | 1,500,000,000 | |
Duke Energy (Parent) | Revolving Credit Facility | ||
Debt Instrument [Line Items] | ||
Repayments of long-term debt | 500,000,000 | |
Duke Energy Carolinas | ||
Debt Instrument [Line Items] | ||
Debt issuances | 900,000,000 | |
Repayments of long-term debt | 457,000,000 | 5,000,000 |
Duke Energy Progress | ||
Debt Instrument [Line Items] | ||
Debt issuances | 1,300,000,000 | |
Repayments of long-term debt | 985,000,000 | 603,000,000 |
Duke Energy Florida | ||
Debt Instrument [Line Items] | ||
Debt issuances | 500,000,000 | |
Repayments of long-term debt | 570,000,000 | 210,000,000 |
Duke Energy Ohio | ||
Debt Instrument [Line Items] | ||
Debt issuances | 400,000,000 | |
Repayments of long-term debt | 451,000,000 | |
Duke Energy Indiana | ||
Debt Instrument [Line Items] | ||
Debt issuances | 550,000,000 | |
Repayments of long-term debt | 500,000,000 | 60,000,000 |
Piedmont Natural Gas | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 400,000,000 | |
Repayments of long-term debt | $ 350,000,000 | |
Unsecured Debt | May 2020 2.450% Due 2030 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.45% | |
Debt issuances | $ 500,000,000 | |
Unsecured Debt | May 2020 3.350% Due 2050 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.35% | |
Debt issuances | $ 400,000,000 | |
Unsecured Debt | August 2020 0.450% Due 2022 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 0.43% | |
Debt issuances | $ 700,000,000 | |
Facility term | 2 years | |
Unsecured Debt | September 2020 0.900% Due 2025 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 0.90% | |
Debt issuances | $ 650,000,000 | |
Unsecured Debt | September 2020 2.450% Due 2030 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.45% | |
Debt issuances | $ 350,000,000 | |
Unsecured Debt | Duke Energy (Parent) | May 2020 2.450% Due 2030 | ||
Debt Instrument [Line Items] | ||
Debt issuances | 500,000,000 | |
Unsecured Debt | Duke Energy (Parent) | September 2020 0.900% Due 2025 | ||
Debt Instrument [Line Items] | ||
Debt issuances | 650,000,000 | |
Unsecured Debt | Duke Energy (Parent) | September 2020 2.450% Due 2030 | ||
Debt Instrument [Line Items] | ||
Debt issuances | 350,000,000 | |
Unsecured Debt | Duke Energy (Parent) | Term loan due March 2021 | ||
Debt Instrument [Line Items] | ||
Repayments of long-term debt | 1,700,000,000 | |
Unsecured Debt | Duke Energy Progress | August 2020 0.450% Due 2022 | ||
Debt Instrument [Line Items] | ||
Debt issuances | 700,000,000 | |
Unsecured Debt | Duke Energy Progress | Two-year term loan facility expiring in December 2020 | ||
Debt Instrument [Line Items] | ||
Repayments of long-term debt | 700,000,000 | |
Unsecured Debt | Piedmont Natural Gas | May 2020 3.350% Due 2050 | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 400,000,000 | |
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 | May 2020 2.125% Due 2030 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.125% | |
Debt issuances | $ 400,000,000 | |
First Mortgage Bonds | June 2020 1.750% Due 2030 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.75% | |
Debt issuances | $ 500,000,000 | |
First Mortgage Bonds | August 2020 2.500% Due 2050 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.50% | |
Debt issuances | $ 600,000,000 | |
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 Carolinas | First mortgage bonds due June 2020 | ||
Debt Instrument [Line Items] | ||
Repayments of long-term debt | 450,000,000 | |
First Mortgage Bonds | Duke Energy Progress | August 2020 2.500% Due 2050 | ||
Debt Instrument [Line Items] | ||
Debt issuances | 600,000,000 | |
First Mortgage Bonds | Duke Energy Progress | First mortgage bonds due September 2020 | ||
Debt Instrument [Line Items] | ||
Repayments of long-term debt | 300,000,000 | |
First Mortgage Bonds | Duke Energy Florida | June 2020 1.750% Due 2030 | ||
Debt Instrument [Line Items] | ||
Debt issuances | 500,000,000 | |
First Mortgage Bonds | Duke Energy Ohio | May 2020 2.125% Due 2030 | ||
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 | |
First Mortgage Bonds | Duke Energy Indiana | First mortgage bonds due July 2020 | ||
Debt Instrument [Line Items] | ||
Repayments of long-term debt | $ 500,000,000 |
Debt and Credit Facilities (S_2
Debt and Credit Facilities (Summary of Current Maturities of Long-term Debt) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 4,669 | $ 3,141 |
Other debt obligations | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | 609 | |
Progress Energy | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 1,726 | 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 (Parent) | Unsecured Debt | Debt maturing May 2021, floating interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 0.765% | |
Current maturities of long-term debt | $ 500 | |
Duke Energy (Parent) | Unsecured Debt | Debt maturing September 2021, 3.550% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.55% | |
Current maturities of long-term debt | $ 500 | |
Duke Energy (Parent) | Unsecured Debt | Debt maturing September 2021, 1.800% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.80% | |
Current maturities of long-term debt | $ 750 | |
Piedmont Natural Gas | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 160 | |
Piedmont Natural Gas | Unsecured Debt | Debt maturing June 2021, 4.240% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.24% | |
Current maturities of long-term debt | $ 160 | |
Duke Energy Florida | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 623 | 571 |
Duke Energy Florida | Secured Debt | Debt maturing April 2021, floating interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.035% | |
Current maturities of long-term debt | $ 250 | |
Duke Energy Florida | First Mortgage Bonds | Bonds maturing August 2021, 3.100% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.10% | |
Current maturities of long-term debt | $ 300 | |
Duke Energy Carolinas | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 751 | 458 |
Duke Energy Carolinas | First Mortgage Bonds | Bonds maturing June 2021, 3.900% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.90% | |
Current maturities of long-term debt | $ 500 | |
Duke Energy Progress | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 603 | $ 1,006 |
Duke Energy Progress | First Mortgage Bonds | Debt maturing September 2021, 3.000% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.00% | |
Current maturities of long-term debt | $ 500 | |
Duke Energy Progress | First Mortgage Bonds | Debt maturing September 2021, 8.625% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 8.625% | |
Current maturities of long-term debt | $ 100 |
Debt and Credit Facilities (Nar
Debt and Credit Facilities (Narrative) (Details) - USD ($) | Mar. 27, 2020 | Mar. 19, 2020 | Aug. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2020 |
Debt Instrument [Line Items] | |||||||
Repayments of long-term debt | $ 3,468,000,000 | $ 2,737,000,000 | |||||
Duke Energy Progress | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of long-term debt | 985,000,000 | $ 603,000,000 | |||||
Master Credit Facility | |||||||
Debt Instrument [Line Items] | |||||||
Facility size | $ 8,000,000,000 | 8,000,000,000 | $ 8,000,000,000 | ||||
Master Credit Facility | Duke Energy (Parent) | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of long-term debt | 500,000,000 | ||||||
Master Credit Facility | Duke Energy Progress | |||||||
Debt Instrument [Line Items] | |||||||
Facility size | 1,250,000,000 | $ 1,250,000,000 | |||||
Term Loan Facility | 364-day Term Loan Credit Agreement | Duke Energy (Parent) | |||||||
Debt Instrument [Line Items] | |||||||
Facility size | 1,500,000,000 | ||||||
Borrowing amount | $ 188,000,000 | $ 1,500,000,000 | |||||
Increase in borrowing limit | $ 500,000,000 | ||||||
Repayments of long-term debt | $ 844,000,000 | ||||||
Term Loan Facility | Two-year term loan facility | Duke Energy Progress | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of long-term debt | $ 700,000,000 | ||||||
Facility term | 2 years |
Debt and Credit Facilities (Sch
Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) - Master Credit Facility - USD ($) | Sep. 30, 2020 | Mar. 31, 2020 |
Line of Credit Facility [Line Items] | ||
Facility size | $ 8,000,000,000 | $ 8,000,000,000 |
Commercial paper | (2,007,000,000) | |
Outstanding letters of credit | (40,000,000) | |
Tax-exempt bonds | (81,000,000) | |
Available capacity under the Master Credit Facility | 5,872,000,000 | |
Duke Energy Carolinas | ||
Line of Credit Facility [Line Items] | ||
Facility size | 1,475,000,000 | |
Commercial paper | (300,000,000) | |
Outstanding letters of credit | (4,000,000) | |
Available capacity under the Master Credit Facility | 1,171,000,000 | |
Duke Energy Progress | ||
Line of Credit Facility [Line Items] | ||
Facility size | 1,250,000,000 | |
Commercial paper | (308,000,000) | |
Outstanding letters of credit | (2,000,000) | |
Available capacity under the Master Credit Facility | 940,000,000 | |
Duke Energy Florida | ||
Line of Credit Facility [Line Items] | ||
Facility size | 800,000,000 | |
Commercial paper | (62,000,000) | |
Available capacity under the Master Credit Facility | 738,000,000 | |
Duke Energy Ohio | ||
Line of Credit Facility [Line Items] | ||
Facility size | 625,000,000 | |
Commercial paper | (106,000,000) | |
Available capacity under the Master Credit Facility | 519,000,000 | |
Duke Energy Indiana | ||
Line of Credit Facility [Line Items] | ||
Facility size | 600,000,000 | |
Commercial paper | (229,000,000) | |
Tax-exempt bonds | (81,000,000) | |
Available capacity under the Master Credit Facility | 290,000,000 | |
Piedmont Natural Gas | ||
Line of Credit Facility [Line Items] | ||
Facility size | 600,000,000 | |
Commercial paper | (309,000,000) | |
Available capacity under the Master Credit Facility | 291,000,000 | |
Duke Energy (Parent) | Proceeds loaned to subsidiary registrants | ||
Line of Credit Facility [Line Items] | ||
Commercial paper | (625,000,000) | |
Duke Energy (Parent) | Duke Energy (Parent) | ||
Line of Credit Facility [Line Items] | ||
Facility size | 2,650,000,000 | |
Commercial paper | (693,000,000) | |
Outstanding letters of credit | (34,000,000) | |
Available capacity under the Master Credit Facility | $ 1,923,000,000 |
Debt and Credit Facilities (S_3
Debt and Credit Facilities (Schedule of Other Credit Facilities) (Details) - Master Credit Facility - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Mar. 31, 2020 | |
Line of Credit Facility [Line Items] | ||
Facility size | $ 8,000,000,000 | $ 8,000,000,000 |
Duke Energy (Parent) Three-Year Revolving Credit Facility | Duke Energy (Parent) | ||
Line of Credit Facility [Line Items] | ||
Facility term | 3 years | |
Facility size | $ 1,000,000,000 | |
Amount drawn | $ 500,000,000 |
Asset Retirement Obligations (A
Asset Retirement Obligations (ARO by Category) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Asset Retirement Obligations [Line Items] | ||
Total ARO | $ 13,654 | $ 13,318 |
Less: Current portion | 742 | 881 |
Total noncurrent ARO | 12,912 | 12,437 |
Duke Energy Carolinas | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 5,774 | 5,734 |
Less: Current portion | 267 | 206 |
Total noncurrent ARO | 5,507 | 5,528 |
Progress Energy | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 6,355 | 6,471 |
Less: Current portion | 297 | 485 |
Total noncurrent ARO | 6,058 | 5,986 |
Duke Energy Progress | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 5,800 | 5,893 |
Less: Current portion | 297 | 485 |
Total noncurrent ARO | 5,503 | 5,408 |
Duke Energy Florida | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 555 | 578 |
Total noncurrent ARO | 555 | 578 |
Duke Energy Ohio | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 91 | 80 |
Less: Current portion | 7 | 1 |
Total noncurrent ARO | 84 | 79 |
Duke Energy Indiana | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 1,214 | 832 |
Less: Current portion | 170 | 189 |
Total noncurrent ARO | 1,044 | 643 |
Piedmont Natural Gas | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 17 | 17 |
Total noncurrent ARO | 17 | $ 17 |
Decommissioning of nuclear power facilities | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 6,815 | |
Decommissioning of nuclear power facilities | Duke Energy Carolinas | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 2,658 | |
Decommissioning of nuclear power facilities | Progress Energy | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 4,107 | |
Decommissioning of nuclear power facilities | Duke Energy Progress | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 3,606 | |
Decommissioning of nuclear power facilities | Duke Energy Florida | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 501 | |
Closure of ash impoundments | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 6,458 | |
Closure of ash impoundments | Duke Energy Carolinas | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 3,049 | |
Closure of ash impoundments | Progress Energy | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 2,172 | |
Closure of ash impoundments | Duke Energy Progress | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 2,150 | |
Closure of ash impoundments | Duke Energy Florida | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 22 | |
Closure of ash impoundments | Duke Energy Ohio | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 51 | |
Closure of ash impoundments | Duke Energy Indiana | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 1,186 | |
Other | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 381 | |
Other | Duke Energy Carolinas | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 67 | |
Other | Progress Energy | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 76 | |
Other | Duke Energy Progress | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 44 | |
Other | Duke Energy Florida | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 32 | |
Other | Duke Energy Ohio | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 40 | |
Other | Duke Energy Indiana | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | 28 | |
Other | Piedmont Natural Gas | ||
Asset Retirement Obligations [Line Items] | ||
Total ARO | $ 17 |
Asset Retirement Obligations _2
Asset Retirement Obligations (ARO Rollforward) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Balance at beginning of period | $ 13,318 |
Accretion expense | 408 |
Liabilities settled | (540) |
Liabilities incurred in the current year | 17 |
Revision in estimates of cash flows | 451 |
Balance at end of period | 13,654 |
Duke Energy Carolinas | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Balance at beginning of period | 5,734 |
Accretion expense | 195 |
Liabilities settled | (151) |
Revision in estimates of cash flows | (4) |
Balance at end of period | 5,774 |
Progress Energy | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Balance at beginning of period | 6,471 |
Accretion expense | 187 |
Liabilities settled | (333) |
Revision in estimates of cash flows | 30 |
Balance at end of period | 6,355 |
Duke Energy Progress | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Balance at beginning of period | 5,893 |
Accretion expense | 171 |
Liabilities settled | (293) |
Revision in estimates of cash flows | 29 |
Balance at end of period | 5,800 |
Duke Energy Florida | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Balance at beginning of period | 578 |
Accretion expense | 16 |
Liabilities settled | (40) |
Revision in estimates of cash flows | 1 |
Balance at end of period | 555 |
Duke Energy Ohio | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Balance at beginning of period | 80 |
Accretion expense | 3 |
Liabilities settled | (1) |
Revision in estimates of cash flows | 9 |
Balance at end of period | 91 |
Duke Energy Indiana | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Balance at beginning of period | 832 |
Accretion expense | 22 |
Liabilities settled | (56) |
Revision in estimates of cash flows | 416 |
Balance at end of period | 1,214 |
Piedmont Natural Gas | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Balance at beginning of period | 17 |
Balance at end of period | $ 17 |
Goodwill (Rollforward of Goodwi
Goodwill (Rollforward of Goodwill) (Details) - USD ($) $ in Millions | Sep. 30, 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 ($) | Sep. 30, 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 |
Progress Energy | Electric Utilities and Infrastructure | ||
Goodwill [Line Items] | ||
Accumulated impairment charges | 0 | 0 |
Piedmont Natural Gas | ||
Goodwill [Line Items] | ||
Goodwill | 49,000,000 | 49,000,000 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | ||
Goodwill [Line Items] | ||
Accumulated impairment charges | $ 0 | $ 0 |
Related Party Transactions (Oth
Related Party Transactions (Other Revenue and Expense) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 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 | $ 198 | $ 197 | $ 528 | $ 606 |
Duke Energy Carolinas | Indemnification coverages | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 5 | 5 | 15 | 15 |
Duke Energy Carolinas | JDA | Duke Energy Progress | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 28 | 32 | 72 | 145 |
Related party transaction, other revenues from transactions with related party | 6 | 12 | 16 | 52 |
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 | 10 | 0 | 26 | 7 |
Progress Energy | Corporate governance and shared service expenses | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 185 | 194 | 520 | 553 |
Progress Energy | Indemnification coverages | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 9 | 8 | 27 | 27 |
Progress Energy | JDA | Duke Energy Carolinas | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 6 | 12 | 16 | 52 |
Related party transaction, other revenues from transactions with related party | 28 | 32 | 72 | 145 |
Progress Energy | Intercompany natural gas purchases and sales | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 18 | 19 | 56 | 57 |
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 | 113 | 114 | 301 | 328 |
Duke Energy Progress | Indemnification coverages | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 4 | 3 | 13 | 11 |
Duke Energy Progress | JDA | Duke Energy Carolinas | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 6 | 12 | 16 | 52 |
Related party transaction, other revenues from transactions with related party | 28 | 32 | 72 | 145 |
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 | 18 | 19 | 56 | 57 |
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 | 72 | 80 | 219 | 225 |
Duke Energy Florida | Indemnification coverages | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 5 | 5 | 14 | 16 |
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 | 80 | 90 | 241 | 258 |
Duke Energy Ohio | Indemnification coverages | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 1 | 1 | 3 | 3 |
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 | 102 | 109 | 300 | 299 |
Duke Energy Indiana | Indemnification coverages | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 2 | 2 | 6 | 5 |
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 | 31 | 33 | 102 | 102 |
Piedmont Natural Gas | Indemnification coverages | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction, expenses from transactions with related party | 1 | 1 | 2 | 2 |
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 | 28 | 19 | 82 | 64 |
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 | $ 6 | $ 17 | $ 17 |
Related Party Transactions (Int
Related Party Transactions (Intercompany Income Taxes) (Details) - Affiliated Entity - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Duke Energy Carolinas | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax payable | $ 206 | $ 5 |
Progress Energy | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | 125 | |
Intercompany income tax payable | 49 | |
Duke Energy Progress | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | 28 | |
Intercompany income tax payable | 104 | |
Duke Energy Florida | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax payable | 98 | 2 |
Duke Energy Ohio | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | 9 | |
Intercompany income tax payable | 6 | |
Duke Energy Indiana | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | 28 | |
Intercompany income tax payable | 56 | |
Piedmont Natural Gas | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | $ 14 | $ 13 |
Derivatives and Hedging (Notion
Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details) Mcf in Millions, $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020USD ($)GWhMcf | Dec. 31, 2019USD ($)GWhMcf | |
Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 1,830 | $ 2,270 |
Commodity contracts | Cash flow hedges | ||
Derivative [Line Items] | ||
Notional amount, energy measure (in gigawatt-hours) | GWh | 11,116 | |
Commodity contracts | Electricity (GWh)(a) | ||
Derivative [Line Items] | ||
Notional amount, energy measure (in gigawatt-hours) | GWh | 32,314 | 15,858 |
Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of dekatherms) | Mcf | 683 | 704 |
Designated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 653 | $ 993 |
Designated contracts | Interest Rate Contracts | VIE primary beneficiary | ||
Derivative [Line Items] | ||
Notional amount | 653 | 693 |
Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | 1,177 | 1,277 |
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 dekatherms) | Mcf | 143 | 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 | $ 750 | $ 800 |
Progress Energy | Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of dekatherms) | Mcf | 156 | 160 |
Progress Energy | Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 750 | $ 800 |
Duke Energy Progress | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 750 | $ 250 |
Duke Energy Progress | Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of dekatherms) | Mcf | 156 | 160 |
Duke Energy Progress | Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 750 | $ 250 |
Duke Energy Florida | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | 550 | |
Duke Energy Florida | Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | 550 | |
Duke Energy Ohio | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 27 | $ 27 |
Duke Energy Ohio | Commodity contracts | Electricity (GWh)(a) | ||
Derivative [Line Items] | ||
Notional amount, energy measure (in gigawatt-hours) | GWh | 4,126 | 1,887 |
Duke Energy Ohio | Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 27 | $ 27 |
Duke Energy Indiana | Commodity contracts | Electricity (GWh)(a) | ||
Derivative [Line Items] | ||
Notional amount, energy measure (in gigawatt-hours) | GWh | 17,072 | 13,971 |
Duke Energy Indiana | Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of dekatherms) | Mcf | 2 | 3 |
Piedmont Natural Gas | Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of dekatherms) | Mcf | 382 | 411 |
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 | Sep. 30, 2020 | Dec. 31, 2019 |
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | $ 86 | $ 25 |
Location and fair value amounts of derivatives (Liability) | 359 | 300 |
Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 60 | 24 |
Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 26 | 1 |
Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 84 | 118 |
Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 275 | 182 |
Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 83 | 18 |
Location and fair value amounts of derivatives (Liability) | 257 | 223 |
Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 6 |
Location and fair value amounts of derivatives (Liability) | 102 | 53 |
Equity Securities Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 24 | |
Not Designated as Hedging Instruments | Commodity Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 57 | 17 |
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 26 | 1 |
Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 26 | 67 |
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 129 | 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 | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 27 | 8 |
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | 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 | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | |
Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 17 | |
Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 85 | |
Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 14 | 19 |
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 56 | 21 |
Duke Energy Carolinas | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 38 | |
Location and fair value amounts of derivatives (Liability) | 33 | 49 |
Duke Energy Carolinas | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 24 | |
Duke Energy Carolinas | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 14 | |
Duke Energy Carolinas | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 29 | 39 |
Duke Energy Carolinas | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 4 | 10 |
Duke Energy Carolinas | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 38 | |
Location and fair value amounts of derivatives (Liability) | 16 | 43 |
Duke Energy Carolinas | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 17 | 6 |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 24 | |
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) | 14 | |
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) | 12 | 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) | 4 | 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) | 17 | 6 |
Progress Energy | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 33 | 7 |
Location and fair value amounts of derivatives (Liability) | 36 | 88 |
Progress Energy | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 21 | 7 |
Progress Energy | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 12 | |
Progress Energy | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 9 | 51 |
Progress Energy | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 27 | 37 |
Progress Energy | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 30 | |
Location and fair value amounts of derivatives (Liability) | 27 | 63 |
Progress Energy | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 6 |
Location and fair value amounts of derivatives (Liability) | 9 | 1 |
Progress Energy | Equity Securities Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 24 | |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 18 | |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 12 | |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 26 | |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 27 | 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 | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 9 | 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 | 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) | 33 | |
Location and fair value amounts of derivatives (Liability) | 20 | 49 |
Duke Energy Progress | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 21 | |
Duke Energy Progress | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 12 | |
Duke Energy Progress | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 9 | 27 |
Duke Energy Progress | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 11 | 22 |
Duke Energy Progress | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 30 | |
Location and fair value amounts of derivatives (Liability) | 11 | 48 |
Duke Energy Progress | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Location and fair value amounts of derivatives (Liability) | 9 | 1 |
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 18 | |
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) | 12 | |
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 26 | |
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) | 11 | 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 | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 9 | 1 |
Duke Energy Florida | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | |
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Florida | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | |
Duke Energy Florida | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Florida | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Duke Energy Florida | Equity Securities Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Florida | Not Designated as Hedging Instruments | 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 | Equity Securities Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Equity Securities Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Ohio | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 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) | 2 | 3 |
Duke Energy Ohio | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Ohio | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 2 | 1 |
Duke Energy Ohio | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | 5 |
Duke Energy Ohio | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 4 |
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Ohio | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | 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) | 2 | 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 | |
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | 5 |
Duke Energy Indiana | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 8 | 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) | 8 | 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) | 8 | 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) | 8 | 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) | 6 | 1 |
Location and fair value amounts of derivatives (Liability) | 111 | 117 |
Piedmont Natural Gas | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | 1 |
Piedmont Natural Gas | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 13 | 7 |
Piedmont Natural Gas | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 98 | 110 |
Piedmont Natural Gas | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | 1 |
Location and fair value amounts of derivatives (Liability) | 111 | 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) | 6 | 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) | 13 | 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) | $ 98 | $ 110 |
Derivatives and Hedging (Schedu
Derivatives and Hedging (Schedule of Offsetting Assets) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | $ 86 | $ 25 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 86 | 25 |
Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 60 | 24 |
Gross amounts offset | (1) | (1) |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 59 | 23 |
Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 26 | 1 |
Gross amounts offset | (8) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 18 | 1 |
Duke Energy Carolinas | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 38 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 38 | |
Duke Energy Carolinas | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 24 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 24 | |
Duke Energy Carolinas | Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 14 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 14 | |
Progress Energy | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 33 | 7 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 33 | 7 |
Progress Energy | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 21 | 7 |
Gross amounts offset | (1) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 21 | 6 |
Progress Energy | Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 12 | |
Gross amounts offset | (8) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 4 | |
Duke Energy Progress | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 33 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 33 | |
Duke Energy Progress | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 21 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 21 | |
Duke Energy Progress | Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 12 | |
Gross amounts offset | (8) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 4 | |
Duke Energy Florida | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 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 Ohio | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 2 | 4 |
Duke Energy Ohio | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 2 | 3 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 2 | 3 |
Duke Energy Ohio | Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 1 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 1 | |
Duke Energy Indiana | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 8 | 13 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 8 | 13 |
Duke Energy Indiana | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 8 | 13 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 8 | 13 |
Piedmont Natural Gas | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 6 | 1 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 6 | 1 |
Piedmont Natural Gas | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 6 | 1 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | $ 6 | $ 1 |
Derivatives and Hedging (Sche_2
Derivatives and Hedging (Schedule of Offsetting Liabilities) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | $ 359 | $ 300 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 359 | 277 |
Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 84 | 118 |
Gross amounts offset | (1) | (24) |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 83 | 94 |
Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 275 | 182 |
Gross amounts offset | (8) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 267 | 182 |
Duke Energy Carolinas | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 33 | 49 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 33 | 49 |
Duke Energy Carolinas | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 29 | 39 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 29 | 39 |
Duke Energy Carolinas | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 4 | 10 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 4 | 10 |
Progress Energy | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 36 | 88 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 36 | 65 |
Progress Energy | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 9 | 51 |
Gross amounts offset | (24) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 9 | 27 |
Progress Energy | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 27 | 37 |
Gross amounts offset | (8) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 19 | 37 |
Duke Energy Progress | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 20 | 49 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 20 | 49 |
Duke Energy Progress | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 9 | 27 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 9 | 27 |
Duke Energy Progress | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 11 | 22 |
Gross amounts offset | (8) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 3 | 22 |
Duke Energy Florida | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 24 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 1 | |
Duke Energy Florida | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 24 | |
Gross amounts offset | (24) | |
Duke Energy Ohio | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 7 | 6 |
Duke Energy Ohio | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 2 | 1 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 2 | 1 |
Duke Energy Ohio | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 5 | 5 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 5 | 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 | 111 | 117 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 111 | 117 |
Piedmont Natural Gas | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 13 | 7 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 13 | 7 |
Piedmont Natural Gas | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 98 | 110 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | $ 98 | $ 110 |
Derivatives and Hedging (Deriva
Derivatives and Hedging (Derivative Instruments with Credit-Risk Related Contingent Features and Cash Collateral) (Details) - USD ($) $ in Millions | Sep. 30, 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 | $ 20 | $ 79 |
Fair value of collateral already posted | 0 | 0 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 20 | 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 | 9 | 35 |
Fair value of collateral already posted | 0 | 0 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 9 | 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 | 11 | 44 |
Fair value of collateral already posted | 0 | 0 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 11 | 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 | 11 | 44 |
Fair value of collateral already posted | 0 | 0 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | $ 11 | $ 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 | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | $ 2,532 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 3,662 | $ 3,675 |
Unrealized Holding Losses | 106 | 57 |
Estimated Fair Value | 8,914 | 8,562 |
Duke Energy Carolinas | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,232 | |
Progress Energy | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,045 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 1,482 | 1,655 |
Unrealized Holding Losses | 52 | 47 |
Estimated Fair Value | 4,027 | 3,883 |
Duke Energy Progress | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 992 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 1,409 | 1,300 |
Unrealized Holding Losses | 52 | 21 |
Estimated Fair Value | 3,200 | 3,053 |
Duke Energy Florida | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 53 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 73 | 355 |
Unrealized Holding Losses | 26 | |
Estimated Fair Value | 723 | 787 |
Duke Energy Indiana | ||
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 45 | 43 |
Equity securities, FV-NI | 84 | 81 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 45 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 46 | 44 |
Unrealized Holding Losses | 1 | |
Estimated Fair Value | 130 | 125 |
NDTF | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 687 | 101 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 3,436 | 3,523 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 103 | 55 |
Equity securities, FV-NI | 5,459 | 5,661 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 2,224 | 2,368 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 3,587 | 3,609 |
Unrealized Holding Losses | 105 | 57 |
Estimated Fair Value | 8,370 | 8,130 |
NDTF | Duke Energy Carolinas | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 42 | 21 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 2,027 | 1,914 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 52 | 8 |
Equity securities, FV-NI | 3,229 | 3,154 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,232 | 1,172 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 2,109 | 1,957 |
Unrealized Holding Losses | 53 | 10 |
Estimated Fair Value | 4,503 | 4,347 |
NDTF | Progress Energy | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 645 | 80 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 1,409 | 1,609 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 51 | 47 |
Equity securities, FV-NI | 2,230 | 2,507 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 992 | 1,196 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 1,478 | 1,652 |
Unrealized Holding Losses | 52 | 47 |
Estimated Fair Value | 3,867 | 3,783 |
NDTF | Duke Energy Progress | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 57 | 53 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 1,340 | 1,258 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 51 | 21 |
Equity securities, FV-NI | 2,150 | 2,077 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 992 | 921 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 1,409 | 1,300 |
Unrealized Holding Losses | 52 | 21 |
Estimated Fair Value | 3,199 | 3,051 |
NDTF | Duke Energy Florida | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 588 | 27 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 69 | 351 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 26 | |
Equity securities, FV-NI | 80 | 430 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 275 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 69 | 352 |
Unrealized Holding Losses | 26 | |
Estimated Fair Value | 668 | 732 |
Other Investments | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 110 | 52 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 60 | 57 |
Equity securities, FV-NI | 126 | 122 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 308 | 258 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 75 | 66 |
Unrealized Holding Losses | 1 | |
Estimated Fair Value | 544 | 432 |
Other Investments | Progress Energy | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 107 | 49 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 53 | 51 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 4 | 3 |
Estimated Fair Value | 160 | 100 |
Other Investments | Duke Energy Progress | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 1 | 2 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Estimated Fair Value | 1 | 2 |
Other Investments | Duke Energy Florida | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 2 | 4 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 53 | 51 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 4 | 3 |
Estimated Fair Value | 55 | 55 |
Other Investments | Duke Energy Indiana | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 1 | |
Equity Securities, FV-NI | ||
Equity securities, FV-NI | 84 | 81 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 45 | 44 |
Corporate debt securities | Duke Energy Indiana | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 3 | 6 |
Corporate debt securities | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 65 | 37 |
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 789 | 603 |
Corporate debt securities | NDTF | Duke Energy Carolinas | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 42 | 21 |
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 507 | 361 |
Corporate debt securities | NDTF | Progress Energy | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 23 | 16 |
Estimated Fair Value | 282 | 242 |
Corporate debt securities | NDTF | Duke Energy Progress | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 23 | 16 |
Estimated Fair Value | 282 | 242 |
Corporate debt securities | Other Investments | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 8 | 3 |
Estimated Fair Value | 129 | 67 |
Municipal bonds | Duke Energy Indiana | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 1 | 1 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 39 | 36 |
Municipal bonds | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 19 | 13 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 407 | 368 |
Municipal bonds | NDTF | Duke Energy Carolinas | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 5 | 3 |
Estimated Fair Value | 118 | 96 |
Municipal bonds | NDTF | Progress Energy | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 14 | 10 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 289 | 272 |
Municipal bonds | NDTF | Duke Energy Progress | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 14 | 10 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 289 | 272 |
Municipal bonds | Other Investments | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 6 | 4 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 114 | 94 |
Municipal bonds | Other Investments | Progress Energy | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 4 | 3 |
Estimated Fair Value | 53 | 51 |
Municipal bonds | Other Investments | Duke Energy Florida | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 4 | 3 |
Estimated Fair Value | 53 | 51 |
U.S. government bonds | Duke Energy Indiana | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 3 | 2 |
U.S. government bonds | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 58 | 33 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 843 | 1,256 |
U.S. government bonds | NDTF | Duke Energy Carolinas | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 28 | 16 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 428 | 578 |
U.S. government bonds | NDTF | Progress Energy | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 30 | 17 |
Estimated Fair Value | 415 | 678 |
U.S. government bonds | NDTF | Duke Energy Progress | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 30 | 16 |
Estimated Fair Value | 415 | 403 |
U.S. government bonds | NDTF | Duke Energy Florida | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 1 | |
Estimated Fair Value | 275 | |
U.S. government bonds | Other Investments | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 1 | 2 |
Estimated Fair Value | 21 | 41 |
Other debt securities | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 9 | 3 |
Estimated Fair Value | 185 | 141 |
Other debt securities | NDTF | Duke Energy Carolinas | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 7 | 3 |
Estimated Fair Value | 179 | 137 |
Other debt securities | NDTF | Progress Energy | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 2 | |
Estimated Fair Value | 6 | 4 |
Other debt securities | NDTF | Duke Energy Progress | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 2 | |
Estimated Fair Value | 6 | 4 |
Other debt securities | Other Investments | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | $ 44 | $ 56 |
Investments in Debt and Equit_4
Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
FV-NI: | ||||
Realized gains | $ 13 | $ 60 | $ 338 | $ 161 |
Realized losses | 16 | 43 | 148 | 136 |
AFS: | ||||
Realized gains | 26 | 53 | 73 | 110 |
Realized losses | 19 | 36 | 38 | 83 |
Duke Energy Carolinas | ||||
FV-NI: | ||||
Realized gains | 10 | 34 | 46 | 101 |
Realized losses | 12 | 26 | 82 | 95 |
AFS: | ||||
Realized gains | 20 | 21 | 50 | 46 |
Realized losses | 17 | 13 | 30 | 34 |
Progress Energy | ||||
FV-NI: | ||||
Realized gains | 3 | 26 | 292 | 60 |
Realized losses | 4 | 17 | 66 | 41 |
AFS: | ||||
Realized gains | 6 | 31 | 17 | 62 |
Realized losses | 2 | 23 | 7 | 49 |
Duke Energy Progress | ||||
FV-NI: | ||||
Realized gains | 3 | 10 | 43 | 27 |
Realized losses | 4 | 9 | 51 | 24 |
AFS: | ||||
Realized gains | 6 | 2 | 17 | 4 |
Realized losses | $ 2 | 7 | 2 | |
Duke Energy Florida | ||||
FV-NI: | ||||
Realized gains | 16 | 249 | 33 | |
Realized losses | 8 | $ 15 | 17 | |
AFS: | ||||
Realized gains | 29 | 58 | ||
Realized losses | $ 23 | $ 47 |
Investments in Debt and Equit_5
Investments in Debt and Equity Securities (Maturities) (Details) $ in Millions | Sep. 30, 2020USD ($) |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | $ 53 |
Due after one through five years | 558 |
Due after five through 10 years | 608 |
Due after 10 years | 1,313 |
Total | 2,532 |
Duke Energy Carolinas | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 13 |
Due after one through five years | 247 |
Due after five through 10 years | 278 |
Due after 10 years | 694 |
Total | 1,232 |
Progress Energy | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 15 |
Due after one through five years | 256 |
Due after five through 10 years | 232 |
Due after 10 years | 542 |
Total | 1,045 |
Duke Energy Progress | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 14 |
Due after one through five years | 246 |
Due after five through 10 years | 224 |
Due after 10 years | 508 |
Total | 992 |
Duke Energy Florida | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 1 |
Due after one through five years | 10 |
Due after five through 10 years | 8 |
Due after 10 years | 34 |
Total | 53 |
Duke Energy Indiana | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 4 |
Due after one through five years | 16 |
Due after five through 10 years | 9 |
Due after 10 years | 16 |
Total | $ 45 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | $ 2,532 | |
Derivative assets | 86 | $ 25 |
Total assets | 9,000 | 8,610 |
Derivative liabilities | (359) | (277) |
Net assets (liabilities) | 8,641 | 8,310 |
Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 5 | 3 |
Total assets | 6,722 | 6,675 |
Derivative liabilities | (1) | (15) |
Net assets (liabilities) | 6,721 | 6,660 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 71 | 7 |
Total assets | 2,222 | 1,869 |
Derivative liabilities | (145) | (145) |
Net assets (liabilities) | 2,077 | 1,701 |
Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 10 | 15 |
Total assets | 10 | 15 |
Derivative liabilities | (213) | (117) |
Net assets (liabilities) | (203) | (102) |
Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 46 | 51 |
Net assets (liabilities) | 46 | 51 |
NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 687 | 101 |
Equity securities, FV-NI | 5,459 | 5,661 |
Debt securities, available-for-sale | 2,224 | 2,368 |
NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 687 | 101 |
Debt securities, available-for-sale | 363 | 725 |
NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,861 | 1,643 |
NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 5,459 | 5,684 |
NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 5,413 | 5,633 |
NDTF equity securities | Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 46 | 51 |
Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 110 | 52 |
Equity securities, FV-NI | 126 | 122 |
Debt securities, available-for-sale | 308 | 258 |
Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 110 | 52 |
Equity securities, FV-NI | 126 | 122 |
Debt securities, available-for-sale | 18 | 39 |
Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 290 | 219 |
NDTF equity security contracts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | (23) | |
NDTF equity security contracts | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | (23) | |
Duke Energy Carolinas | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,232 | |
Derivative assets | 38 | |
Total assets | 4,541 | 4,347 |
Derivative liabilities | (33) | (49) |
Net assets (liabilities) | 4,508 | 4,298 |
Duke Energy Carolinas | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 3,356 | 3,330 |
Net assets (liabilities) | 3,356 | 3,330 |
Duke Energy Carolinas | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 38 | |
Total assets | 1,139 | 966 |
Derivative liabilities | (33) | (49) |
Net assets (liabilities) | 1,106 | 917 |
Duke Energy Carolinas | Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 46 | 51 |
Net assets (liabilities) | 46 | 51 |
Duke Energy Carolinas | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 42 | 21 |
Equity securities, FV-NI | 3,229 | 3,154 |
Debt securities, available-for-sale | 1,232 | 1,172 |
Duke Energy Carolinas | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 42 | 21 |
Debt securities, available-for-sale | 131 | 206 |
Duke Energy Carolinas | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,101 | 966 |
Duke Energy Carolinas | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 3,229 | 3,154 |
Duke Energy Carolinas | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 3,183 | 3,103 |
Duke Energy Carolinas | NDTF equity securities | Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 46 | 51 |
Progress Energy | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,045 | |
Derivative assets | 33 | 7 |
Total assets | 4,060 | 3,913 |
Derivative liabilities | (36) | (65) |
Net assets (liabilities) | 4,024 | 3,825 |
Progress Energy | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 3,214 | 3,178 |
Net assets (liabilities) | 3,214 | 3,178 |
Progress Energy | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 33 | 7 |
Total assets | 846 | 735 |
Derivative liabilities | (36) | (65) |
Net assets (liabilities) | 810 | 647 |
Progress Energy | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 645 | 80 |
Equity securities, FV-NI | 2,230 | 2,507 |
Debt securities, available-for-sale | 992 | 1,196 |
Progress Energy | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 645 | 80 |
Debt securities, available-for-sale | 232 | 519 |
Progress Energy | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 760 | 677 |
Progress Energy | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,230 | 2,530 |
Progress Energy | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,230 | 2,530 |
Progress Energy | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 107 | 49 |
Debt securities, available-for-sale | 53 | 51 |
Progress Energy | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 107 | 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 liabilities | (23) | |
Progress Energy | NDTF equity security contracts | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | (23) | |
Duke Energy Progress | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 992 | |
Derivative assets | 33 | |
Total assets | 3,233 | 3,053 |
Derivative liabilities | (20) | (49) |
Net assets (liabilities) | 3,213 | 3,004 |
Duke Energy Progress | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 2,440 | 2,376 |
Net assets (liabilities) | 2,440 | 2,376 |
Duke Energy Progress | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 33 | |
Total assets | 793 | 677 |
Derivative liabilities | (20) | (49) |
Net assets (liabilities) | 773 | 628 |
Duke Energy Progress | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 57 | 53 |
Equity securities, FV-NI | 2,150 | 2,077 |
Debt securities, available-for-sale | 992 | 921 |
Duke Energy Progress | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 57 | 53 |
Debt securities, available-for-sale | 232 | 244 |
Duke Energy Progress | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 760 | 677 |
Duke Energy Progress | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,150 | 2,077 |
Duke Energy Progress | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,150 | 2,077 |
Duke Energy Progress | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 1 | 2 |
Duke Energy Progress | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 1 | 2 |
Duke Energy Florida | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 53 | |
Derivative assets | 7 | |
Total assets | 723 | 817 |
Derivative liabilities | (1) | |
Net assets (liabilities) | 723 | 793 |
Duke Energy Florida | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 670 | 759 |
Net assets (liabilities) | 670 | 759 |
Duke Energy Florida | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 7 | |
Total assets | 53 | 58 |
Derivative liabilities | (1) | |
Net assets (liabilities) | 53 | 34 |
Duke Energy Florida | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 588 | 27 |
Equity securities, FV-NI | 80 | 430 |
Debt securities, available-for-sale | 275 | |
Duke Energy Florida | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 588 | 27 |
Debt securities, available-for-sale | 275 | |
Duke Energy Florida | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | |
Duke Energy Florida | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 80 | 453 |
Duke Energy Florida | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 80 | 453 |
Duke Energy Florida | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 2 | 4 |
Debt securities, available-for-sale | 53 | 51 |
Duke Energy Florida | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 2 | 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 liabilities | (23) | |
Duke Energy Florida | NDTF equity security contracts | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | (23) | |
Duke Energy Indiana | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 84 | 81 |
Debt securities, available-for-sale | 45 | |
Derivative assets | 8 | 13 |
Total assets | 138 | 138 |
Derivative liabilities | (1) | |
Net assets (liabilities) | 138 | 137 |
Duke Energy Indiana | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2 | |
Total assets | 85 | 83 |
Derivative liabilities | 0 | (1) |
Net assets (liabilities) | 85 | 82 |
Duke Energy Indiana | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 45 | 44 |
Net assets (liabilities) | 45 | 44 |
Duke Energy Indiana | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 8 | 11 |
Total assets | 8 | 11 |
Net assets (liabilities) | 8 | 11 |
Duke Energy Indiana | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 1 | |
Equity securities, FV-NI | 84 | 81 |
Debt securities, available-for-sale | 45 | 44 |
Duke Energy Indiana | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 1 | |
Equity securities, FV-NI | 84 | 81 |
Duke Energy Indiana | Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 45 | 44 |
Piedmont Natural Gas | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 6 | 1 |
Derivative liabilities | (111) | (117) |
Net assets (liabilities) | (105) | (116) |
Piedmont Natural Gas | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 6 | 1 |
Net assets (liabilities) | 6 | 1 |
Piedmont Natural Gas | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | (111) | (117) |
Net assets (liabilities) | $ (111) | $ (117) |
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 | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Derivatives (net) | ||||
Balance at beginning of period | $ (92) | $ (79) | $ (102) | $ (113) |
Total pretax realized or unrealized gains included in comprehensive income | (102) | (102) | ||
Purchases, sales, issuances and settlements: | ||||
Purchases | 14 | 38 | ||
Settlements | (3) | (9) | (18) | (32) |
Total (losses) gains included on the Condensed Consolidated Balance Sheet | (6) | (2) | 5 | 17 |
Balance at end of period | (203) | (90) | (203) | (90) |
Duke Energy Indiana | ||||
Derivatives (net) | ||||
Balance at beginning of period | 10 | 28 | 11 | 22 |
Purchases, sales, issuances and settlements: | ||||
Purchases | 10 | 29 | ||
Settlements | (3) | (7) | (13) | (26) |
Total (losses) gains included on the Condensed Consolidated Balance Sheet | 1 | (5) | 0 | (9) |
Balance at end of period | 8 | 16 | 8 | 16 |
Piedmont Natural Gas | ||||
Derivatives (net) | ||||
Balance at beginning of period | (105) | (114) | (117) | (141) |
Purchases, sales, issuances and settlements: | ||||
Total (losses) gains and settlements | (6) | 3 | 6 | 30 |
Balance at end of period | $ (111) | $ (111) | $ (111) | $ (111) |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Level 3 Fair Value Disclosures) (Details) $ in Millions | Sep. 30, 2020USD ($)$ / MWh$ / MMBTU | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($)$ / MWh$ / MMBTU | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Net derivative asset (liability) | $ | $ (203) | $ (92) | $ (102) | $ (90) | $ (79) | $ (113) |
Electricity contracts | RTO auction pricing | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Net derivative asset (liability) | $ | $ (102) | |||||
Electricity contracts | RTO auction pricing | Minimum | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | 14.92 | |||||
Electricity contracts | RTO auction pricing | Maximum | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | 151.18 | |||||
Electricity contracts | RTO auction pricing | Weighted Average | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | 29.63 | |||||
Duke Energy Ohio | FTRs | RTO auction pricing | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Net derivative asset (liability) | $ | $ 2 | $ 4 | ||||
Duke Energy Ohio | FTRs | RTO auction pricing | Minimum | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | 0 | 0.59 | ||||
Duke Energy Ohio | FTRs | RTO auction pricing | Maximum | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | 1.90 | 3.47 | ||||
Duke Energy Ohio | FTRs | RTO auction pricing | Weighted Average | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | 0.64 | 2.07 | ||||
Duke Energy Indiana | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Net derivative asset (liability) | $ | $ 8 | 10 | $ 11 | 16 | 28 | 22 |
Duke Energy Indiana | FTRs | RTO auction pricing | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Net derivative asset (liability) | $ | $ 8 | $ 11 | ||||
Duke Energy Indiana | FTRs | RTO auction pricing | Minimum | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | (1.03) | (0.66) | ||||
Duke Energy Indiana | FTRs | RTO auction pricing | Maximum | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | 6.10 | 9.24 | ||||
Duke Energy Indiana | FTRs | RTO auction pricing | Weighted Average | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | 0.74 | 1.15 | ||||
Piedmont Natural Gas | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Net derivative asset (liability) | $ | $ (111) | $ (105) | $ (117) | $ (111) | $ (114) | $ (141) |
Piedmont Natural Gas | Electricity and natural gas contracts | Discounted cash flow | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Net derivative asset (liability) | $ | $ (111) | $ (117) | ||||
Piedmont Natural Gas | Electricity and natural gas contracts | Discounted cash flow | Minimum | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MMBTU | 1.81 | 1.59 | ||||
Piedmont Natural Gas | Electricity and natural gas contracts | Discounted cash flow | Maximum | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MMBTU | 2.50 | 2.46 | ||||
Piedmont Natural Gas | Electricity and natural gas contracts | Discounted cash flow | Weighted Average | ||||||
Fair Value Measurement Inputs and Valuation Techniques | ||||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MMBTU | 2.11 | 1.91 |
Fair Value Measurements (Other
Fair Value Measurements (Other Fair Value Disclosure) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | $ 60,718 | $ 58,126 |
Long-term debt, fair value | 69,503 | 63,062 |
Piedmont Natural Gas and Progress Energy | ||
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 | 12,548 | 11,900 |
Long-term debt, fair value | 15,165 | 13,516 |
Progress Energy | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 19,865 | 19,634 |
Long-term debt, fair value | 23,825 | 22,291 |
Duke Energy Progress | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 9,358 | 9,058 |
Long-term debt, fair value | 10,808 | 9,934 |
Duke Energy Florida | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 7,917 | 7,987 |
Long-term debt, fair value | 9,684 | 9,131 |
Duke Energy Ohio | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 3,089 | 2,619 |
Long-term debt, fair value | 3,619 | 2,964 |
Duke Energy Indiana | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 4,104 | 4,057 |
Long-term debt, fair value | 5,140 | 4,800 |
Piedmont Natural Gas | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 2,780 | 2,384 |
Long-term debt, fair value | $ 3,276 | $ 2,642 |
Variable Interest Entities (Nar
Variable Interest Entities (Narrative) (Details) - USD ($) | Mar. 31, 2018 | Sep. 30, 2020 | Dec. 31, 2019 |
FES | |||
Variable Interest Entities [Line Items] | |||
Power participation ratio | 4.85% | ||
VIE primary beneficiary | |||
Variable Interest Entities [Line Items] | |||
Variable interest entity, financial or other support, amount | $ 0 | $ 0 | |
VIE primary beneficiary | CRC | |||
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 | ||
VIE not primary beneficiary | OVEC | |||
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 ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Variable Interest Entities [Line Items] | ||
Long-Term Debt | $ 56,049,000,000 | $ 54,985,000,000 |
Duke Energy Carolinas | ||
Variable Interest Entities [Line Items] | ||
Long-Term Debt | 11,497,000,000 | 11,142,000,000 |
Duke Energy Progress | ||
Variable Interest Entities [Line Items] | ||
Long-Term Debt | 8,605,000,000 | 7,902,000,000 |
Duke Energy Florida | ||
Variable Interest Entities [Line Items] | ||
Long-Term Debt | 7,294,000,000 | 7,416,000,000 |
CRC | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Facility size | 350,000,000 | |
Long-Term Debt | 350,000,000 | 350,000,000 |
Accounts receivable from securitization | 479,000,000 | 522,000,000 |
DERF | Duke Energy Carolinas | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Facility size | 475,000,000 | |
Long-Term Debt | 475,000,000 | 474,000,000 |
Accounts receivable from securitization | 770,000,000 | 642,000,000 |
DEPR | Duke Energy Progress | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Facility size | 350,000,000 | |
Long-Term Debt | 350,000,000 | 325,000,000 |
Accounts receivable from securitization | 559,000,000 | 489,000,000 |
DEFR | Duke Energy Florida | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Facility size | 250,000,000 | |
Long-Term Debt | 250,000,000 | 250,000,000 |
Accounts receivable from securitization | $ 506,000,000 | $ 336,000,000 |
Variable Interest Entities (S_2
Variable Interest Entities (Schedule of Consolidated VIEs) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Variable Interest Entities [Line Items] | ||
Regulatory Assets: Current | $ 1,637 | $ 1,796 |
Current Assets: Other | 505 | 764 |
Other Noncurrent Assets: Regulatory assets | 13,264 | 13,222 |
Property, Plant and Equipment: Cost | 153,916 | 147,654 |
Accumulated depreciation and amortization | (48,185) | (45,773) |
Other Noncurrent Assets: Other | 3,539 | 3,289 |
Current Liabilities: Other | 2,829 | 2,367 |
Current maturities of long-term debt | 4,669 | 3,141 |
Long-Term Debt | 56,049 | 54,985 |
Other Noncurrent Liabilities: AROs | 12,912 | 12,437 |
Other Noncurrent Liabilities: Other | 1,773 | 1,581 |
Duke Energy Florida | ||
Variable Interest Entities [Line Items] | ||
Regulatory Assets: Current | 303 | 419 |
Current Assets: Other | 25 | 58 |
Other Noncurrent Assets: Regulatory assets | 1,821 | 2,194 |
Property, Plant and Equipment: Cost | 21,662 | 20,457 |
Accumulated depreciation and amortization | (5,452) | (5,236) |
Other Noncurrent Assets: Other | 341 | 311 |
Current Liabilities: Other | 359 | 415 |
Current maturities of long-term debt | 623 | 571 |
Long-Term Debt | 7,294 | 7,416 |
Other Noncurrent Liabilities: AROs | 555 | 578 |
Other Noncurrent Liabilities: Other | 205 | 136 |
DEFPF | Duke Energy Florida | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Receivables of VIEs | 6 | 5 |
Regulatory Assets: Current | 53 | 52 |
Current Assets: Other | 16 | 39 |
Other Noncurrent Assets: Regulatory assets | 951 | 989 |
Current Liabilities: Other | 2 | 10 |
Current maturities of long-term debt | 55 | 54 |
Long-Term Debt | 1,001 | 1,057 |
Commercial Renewables | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Current Assets: Other | 319 | 203 |
Property, Plant and Equipment: Cost | 6,239 | 5,747 |
Accumulated depreciation and amortization | (1,200) | (1,041) |
Other Noncurrent Assets: Other | 79 | 106 |
Current maturities of long-term debt | 161 | 162 |
Long-Term Debt | 1,452 | 1,541 |
Other Noncurrent Liabilities: AROs | 150 | 127 |
Other Noncurrent Liabilities: Other | $ 342 | $ 228 |
Variable Interest Entities (S_3
Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Variable Interest Entities [Line Items] | ||
Investments in equity method unconsolidated affiliates | $ 924 | $ 1,936 |
Total Assets | 161,409 | 158,838 |
Taxes accrued | 768 | 392 |
Current Liabilities: Other | 2,829 | 2,367 |
Deferred income taxes | 9,170 | 8,878 |
Other Noncurrent Liabilities: Other | 1,773 | 1,581 |
VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Receivables from affiliated companies | (1) | (1) |
Other current assets | 413 | |
Investments in equity method unconsolidated affiliates | 488 | 1,479 |
Deferred tax asset | 26 | |
Total Assets | 926 | 1,478 |
Taxes accrued | (1) | |
Current Liabilities: Other | 930 | 4 |
Deferred income taxes | 59 | |
Other Noncurrent Liabilities: Other | 29 | 11 |
Total liabilities | 959 | 73 |
Net assets | (33) | 1,405 |
Duke Energy Ohio | ||
Variable Interest Entities [Line Items] | ||
Total Assets | 9,749 | 9,338 |
Taxes accrued | 193 | 219 |
Current Liabilities: Other | 73 | 75 |
Deferred income taxes | 965 | 922 |
Other Noncurrent Liabilities: Other | 100 | 94 |
Duke Energy Ohio | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Receivables from affiliated companies | 45 | 64 |
Total Assets | 45 | 64 |
Net assets | 45 | 64 |
Duke Energy Indiana | ||
Variable Interest Entities [Line Items] | ||
Total Assets | 13,914 | 13,276 |
Taxes accrued | 110 | 49 |
Current Liabilities: Other | 98 | 112 |
Deferred income taxes | 1,179 | 1,150 |
Other Noncurrent Liabilities: Other | 56 | 18 |
Duke Energy Indiana | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Receivables from affiliated companies | 74 | 77 |
Total Assets | 74 | 77 |
Net assets | 74 | 77 |
Pipeline Investments | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Other current assets | 413 | |
Investments in equity method unconsolidated affiliates | 1,179 | |
Deferred tax asset | 26 | |
Total Assets | 439 | 1,179 |
Taxes accrued | (1) | |
Current Liabilities: Other | 927 | |
Deferred income taxes | 59 | |
Other Noncurrent Liabilities: Other | 19 | |
Total liabilities | 946 | 58 |
Net assets | (507) | 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 | 487 | 300 |
Total Assets | 486 | 299 |
Net assets | 486 | 299 |
Other VIEs | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Investments in equity method unconsolidated affiliates | 1 | |
Total Assets | 1 | |
Current Liabilities: Other | 3 | 4 |
Other Noncurrent Liabilities: Other | 10 | 11 |
Total liabilities | 13 | 15 |
Net assets | $ (12) | $ (15) |
Variable Interest Entities (Pip
Variable Interest Entities (Pipeline Investments) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Variable Interest Entities [Line Items] | |||||
Net (Loss) Income | $ (80) | $ 50 | $ (2,004) | $ 137 | |
Investments in joint ventures | 924 | 924 | $ 1,936 | ||
VIE not primary beneficiary | |||||
Variable Interest Entities [Line Items] | |||||
Investments in joint ventures | $ 488 | $ 488 | 1,479 | ||
ACP | |||||
Variable Interest Entities [Line Items] | |||||
Ownership percentage | 47.00% | 47.00% | |||
ACP | VIE not primary beneficiary | |||||
Variable Interest Entities [Line Items] | |||||
Net (Loss) Income | $ (163) | $ 65 | $ (4,505) | $ 178 | |
Investments in joint ventures | $ (927) | $ (927) | 1,179 | ||
Constitution | |||||
Variable Interest Entities [Line Items] | |||||
Ownership percentage | 24.00% | 24.00% | |||
Pipeline Investments | VIE not primary beneficiary | |||||
Variable Interest Entities [Line Items] | |||||
Investments in joint ventures | $ (927) | $ (927) | $ 1,179 |
Variable Interest Entities (Rec
Variable Interest Entities (Receivables Sold) (Details) - VIE not primary beneficiary - CRC - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Duke Energy Ohio | ||
Variable Interest Entities [Line Items] | ||
Receivables sold | $ 226 | $ 253 |
Less: Retained interests | 45 | 64 |
Net receivables sold | 181 | 189 |
Duke Energy Indiana | ||
Variable Interest Entities [Line Items] | ||
Receivables sold | 310 | 307 |
Less: Retained interests | 74 | 77 |
Net receivables sold | $ 236 | $ 230 |
Variable Interest Entities (Sal
Variable Interest Entities (Sales and Cash Flows) (Details) - VIE not primary beneficiary - CRC - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Duke Energy Ohio | ||||
Variable Interest Entities [Line Items] | ||||
Receivables sold | $ 462 | $ 479 | $ 1,428 | $ 1,483 |
Loss recognized on sale | 2 | 4 | 8 | 11 |
Cash proceeds from receivables sold | 449 | 471 | 1,439 | 1,516 |
Collection fees received | 1 | 1 | 1 | |
Return received on retained interests | 1 | 1 | 3 | 5 |
Duke Energy Indiana | ||||
Variable Interest Entities [Line Items] | ||||
Receivables sold | 717 | 762 | 1,947 | 2,172 |
Loss recognized on sale | 3 | 4 | 9 | 13 |
Cash proceeds from receivables sold | 689 | 762 | 1,941 | 2,200 |
Collection fees received | 1 | 1 | ||
Return received on retained interests | $ 1 | $ 2 | $ 4 | $ 7 |
Revenue (Remaining Performance
Revenue (Remaining Performance Obligations) (Details) $ in Millions | Sep. 30, 2020USD ($) |
Progress Energy | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 363 |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 3 months |
Revenue, remaining performance obligation, amount | $ 30 |
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 | $ 94 |
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 | $ 34 |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 3 months |
Revenue, remaining performance obligation, amount | $ 2 |
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 | $ 329 |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 3 months |
Revenue, remaining performance obligation, amount | $ 28 |
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 | $ 86 |
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 | $ 62 |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 3 months |
Revenue, remaining performance obligation, amount | $ 2 |
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 |
Revenue, remaining performance obligation, amount | $ 7 |
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 |
Revenue, remaining performance obligation, amount | $ 12 |
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 | |
Revenue, remaining performance obligation, amount | $ 36 |
Piedmont Natural Gas | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 642 |
Piedmont Natural Gas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 3 months |
Revenue, remaining performance obligation, amount | $ 17 |
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 | $ 377 |
Revenue (Remaining Performanc_2
Revenue (Remaining Performance Obligations Total) (Details) $ in Millions | Sep. 30, 2020USD ($) |
Progress Energy | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 363 |
Duke Energy Progress | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | 34 |
Duke Energy Florida | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | 329 |
Duke Energy Indiana | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | 62 |
Piedmont Natural Gas | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 642 |
Revenue (Disaggregation of Reve
Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | $ 6,658 | $ 6,792 | $ 17,817 | $ 18,485 |
Revenue from sources other than contracts with customers | 63 | 148 | 274 | 491 |
Total operating revenues | 6,721 | 6,940 | 18,091 | 18,976 |
Electric Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 6,378 | 6,492 | 16,538 | 17,074 |
Total operating revenues | 6,371 | 6,569 | 16,571 | 17,357 |
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2,936 | 2,923 | 7,451 | 7,597 |
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,804 | 1,885 | 4,691 | 4,896 |
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 797 | 869 | 2,148 | 2,339 |
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 603 | 617 | 1,535 | 1,685 |
Electric Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 238 | 198 | 713 | 557 |
Gas Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 216 | 223 | 1,089 | 1,236 |
Total operating revenues | 217 | 225 | 1,122 | 1,239 |
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 112 | 113 | 631 | 673 |
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 64 | 68 | 308 | 359 |
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 24 | 26 | 92 | 103 |
Gas Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 16 | 16 | 58 | 101 |
Commercial Renewables | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 57 | 69 | 170 | 157 |
Total operating revenues | 126 | 138 | 378 | 362 |
Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 7 | 8 | 20 | 18 |
Total operating revenues | 7 | 8 | 20 | 18 |
Duke Energy Carolinas | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2,068 | 2,140 | 5,423 | 5,535 |
Revenue from sources other than contracts with customers | (10) | 22 | (7) | 84 |
Total operating revenues | 2,058 | 2,162 | 5,416 | 5,619 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2,068 | 2,140 | 5,423 | 5,535 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 883 | 892 | 2,316 | 2,331 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 664 | 687 | 1,720 | 1,714 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 342 | 372 | 871 | 927 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 117 | 113 | 332 | 341 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 62 | 76 | 184 | 222 |
Progress Energy | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 3,179 | 3,167 | 8,039 | 8,334 |
Revenue from sources other than contracts with customers | 18 | 75 | 78 | 224 |
Total operating revenues | 3,197 | 3,242 | 8,117 | 8,558 |
Progress Energy | Electric Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 3,179 | 3,167 | 8,039 | 8,334 |
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,550 | 1,522 | 3,792 | 3,879 |
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 805 | 843 | 2,080 | 2,225 |
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 245 | 255 | 673 | 708 |
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 412 | 429 | 1,018 | 1,133 |
Progress Energy | Electric Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 167 | 118 | 476 | 389 |
Duke Energy Progress | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,612 | 1,651 | 4,151 | 4,446 |
Revenue from sources other than contracts with customers | 14 | 37 | 56 | 113 |
Total operating revenues | 1,626 | 1,688 | 4,207 | 4,559 |
Duke Energy Progress | Electric Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,612 | 1,651 | 4,151 | 4,446 |
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 616 | 625 | 1,578 | 1,657 |
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 384 | 399 | 1,001 | 1,044 |
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 179 | 189 | 487 | 514 |
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 358 | 368 | 877 | 992 |
Duke Energy Progress | Electric Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 75 | 70 | 208 | 239 |
Duke Energy Florida | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,567 | 1,516 | 3,888 | 3,888 |
Revenue from sources other than contracts with customers | 32 | 9 | 99 | |
Total operating revenues | 1,567 | 1,548 | 3,897 | 3,987 |
Duke Energy Florida | Electric Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,567 | 1,516 | 3,888 | 3,888 |
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 934 | 897 | 2,214 | 2,222 |
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 421 | 444 | 1,079 | 1,181 |
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 66 | 66 | 186 | 194 |
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 54 | 61 | 141 | 141 |
Duke Energy Florida | Electric Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 92 | 48 | 268 | 150 |
Duke Energy Ohio | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 481 | 494 | 1,405 | 1,454 |
Revenue from sources other than contracts with customers | (8) | (5) | (11) | (1) |
Total operating revenues | 473 | 489 | 1,394 | 1,453 |
Duke Energy Ohio | Electric Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 400 | 413 | 1,081 | 1,102 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 213 | 215 | 558 | 563 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 119 | 127 | 336 | 335 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 35 | 40 | 103 | 109 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 10 | 13 | 22 | 36 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 23 | 18 | 62 | 59 |
Duke Energy Ohio | Gas Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 81 | 81 | 324 | 352 |
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 55 | 53 | 214 | 229 |
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 20 | 21 | 86 | 96 |
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 3 | 4 | 12 | 14 |
Duke Energy Ohio | Gas Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 3 | 3 | 12 | 13 |
Duke Energy Indiana | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 762 | 808 | 2,067 | 2,281 |
Revenue from sources other than contracts with customers | (1) | (1) | 3 | 8 |
Total operating revenues | 761 | 807 | 2,070 | 2,289 |
Duke Energy Indiana | Electric Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 762 | 808 | 2,067 | 2,281 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 289 | 294 | 785 | 825 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 212 | 225 | 554 | 619 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 175 | 204 | 502 | 595 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 64 | 63 | 163 | 176 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 22 | 22 | 63 | 66 |
Piedmont Natural Gas | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 144 | 157 | 792 | 924 |
Revenue from sources other than contracts with customers | 18 | 11 | 79 | 32 |
Total operating revenues | 162 | 168 | 871 | 956 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 144 | 157 | 792 | 924 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 57 | 59 | 417 | 443 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 44 | 47 | 222 | 263 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 22 | 25 | 80 | 91 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Power Generation | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 10 | 13 | 27 | 39 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | $ 11 | $ 13 | $ 46 | $ 88 |
Revenue (Reserve for Credit Los
Revenue (Reserve for Credit Losses for Trade and Other Receivables) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at December 31, 2019 | $ 102 | $ 76 |
Cumulative Change in Accounting Principle | 133 | 76 |
Write-Offs | 12 | (7) |
Credit Loss Expense | (9) | 24 |
Other Adjustments | 28 | 35 |
Balance at September 30, 2020 | 133 | 133 |
Duke Energy Carolinas | ||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at December 31, 2019 | 14 | 10 |
Cumulative Change in Accounting Principle | 22 | 22 |
Write-Offs | (2) | (8) |
Credit Loss Expense | 9 | |
Other Adjustments | 10 | 10 |
Balance at September 30, 2020 | 22 | 22 |
Progress Energy | ||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at December 31, 2019 | 29 | 16 |
Cumulative Change in Accounting Principle | 37 | 16 |
Write-Offs | 15 | 8 |
Credit Loss Expense | (16) | 2 |
Other Adjustments | 9 | 9 |
Balance at September 30, 2020 | 37 | 37 |
Duke Energy Progress | ||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at December 31, 2019 | 14 | 8 |
Cumulative Change in Accounting Principle | 21 | 8 |
Write-Offs | 13 | 8 |
Credit Loss Expense | (15) | (5) |
Other Adjustments | 9 | 9 |
Balance at September 30, 2020 | 21 | 21 |
Duke Energy Florida | ||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at December 31, 2019 | 14 | 7 |
Cumulative Change in Accounting Principle | 16 | 16 |
Write-Offs | 2 | |
Credit Loss Expense | 8 | |
Balance at September 30, 2020 | 16 | 16 |
Duke Energy Ohio | ||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at December 31, 2019 | 5 | 4 |
Cumulative Change in Accounting Principle | 5 | 4 |
Credit Loss Expense | 1 | |
Balance at September 30, 2020 | 5 | 5 |
Duke Energy Indiana | ||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at December 31, 2019 | 3 | 3 |
Cumulative Change in Accounting Principle | 3 | 3 |
Balance at September 30, 2020 | 3 | 3 |
Piedmont Natural Gas | ||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at December 31, 2019 | 6 | 6 |
Cumulative Change in Accounting Principle | 9 | 9 |
Write-Offs | (5) | |
Credit Loss Expense | 3 | 7 |
Balance at September 30, 2020 | $ 9 | 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 | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | $ 788 | $ 843 |
Trade and Other Receivables, not past due | 1,800 | |
Trade and Other Receivables | 3,172 | |
30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 227 | |
60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 94 | |
90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 263 | |
Duke Energy Carolinas | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 284 | 298 |
Trade and Other Receivables, not past due | 475 | |
Trade and Other Receivables | 969 | |
Duke Energy Carolinas | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 86 | |
Duke Energy Carolinas | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 39 | |
Duke Energy Carolinas | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 85 | |
Progress Energy | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 274 | 217 |
Trade and Other Receivables, not past due | 847 | |
Trade and Other Receivables | 1,304 | |
Progress Energy | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 84 | |
Progress Energy | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 31 | |
Progress Energy | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 68 | |
Duke Energy Progress | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 139 | 122 |
Trade and Other Receivables, not past due | 439 | |
Trade and Other Receivables | 683 | |
Duke Energy Progress | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 48 | |
Duke Energy Progress | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 20 | |
Duke Energy Progress | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 37 | |
Duke Energy Florida | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 135 | 95 |
Trade and Other Receivables, not past due | 406 | |
Trade and Other Receivables | 619 | |
Duke Energy Florida | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 36 | |
Duke Energy Florida | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 11 | |
Duke Energy Florida | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 31 | |
Duke Energy Ohio | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 1 | 1 |
Trade and Other Receivables, not past due | 44 | |
Trade and Other Receivables | 95 | |
Duke Energy Ohio | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 7 | |
Duke Energy Ohio | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 3 | |
Duke Energy Ohio | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 40 | |
Duke Energy Indiana | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 16 | 16 |
Trade and Other Receivables, not past due | 23 | |
Trade and Other Receivables | 51 | |
Duke Energy Indiana | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 2 | |
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 | 9 | |
Piedmont Natural Gas | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 5 | $ 78 |
Trade and Other Receivables, not past due | 66 | |
Trade and Other Receivables | 102 | |
Piedmont Natural Gas | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 8 | |
Piedmont Natural Gas | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 3 | |
Piedmont Natural Gas | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | $ 20 |
Revenue (Unbilled Revenues) (De
Revenue (Unbilled Revenues) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | $ 788 | $ 843 |
Duke Energy Carolinas | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 284 | 298 |
Progress Energy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 274 | 217 |
Duke Energy Progress | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 139 | 122 |
Duke Energy Florida | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 135 | 95 |
Duke Energy Ohio | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 1 | 1 |
Duke Energy Ohio | CRC | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 66 | 82 |
Duke Energy Indiana | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 16 | 16 |
Duke Energy Indiana | CRC | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 106 | 115 |
Piedmont Natural Gas | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | $ 5 | $ 78 |
Stockholders' Equity (Earnings
Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Class of Stock [Line Items] | ||||
Net income available to Duke Energy common stockholders | $ 1,265 | $ 1,327 | $ 1,347 | $ 3,047 |
Accumulated preferred stock dividends adjustment | 12 | (2) | 13 | (2) |
Less: Impact of participating securities | 1 | 1 | 2 | 4 |
Income from continuing operations available to Duke Energy common stockholders | $ 1,276 | $ 1,324 | $ 1,358 | $ 3,041 |
Weighted average common shares outstanding – basic (in shares) | 735 | 729 | 735 | 728 |
Weighted average common shares outstanding – diluted (in shares) | 735 | 729 | 735 | 728 |
EPS available to Duke Energy common stockholders | ||||
Basic and diluted (in usd per share) | $ 1.74 | $ 1.82 | $ 1.85 | $ 4.18 |
Potentially dilutive items excluded from the calculation (in shares) | 2 | 2 | 2 | 2 |
Common Stock | ||||
EPS available to Duke Energy common stockholders | ||||
Dividends declared per common share (in usd per share) | $ 0.965 | $ 0.945 | $ 2.855 | $ 2.800 |
Preferred stock, Series A | ||||
EPS available to Duke Energy common stockholders | ||||
Dividends declared on preferred stock per depositary share (in usd per share) | 0.359 | $ 0.359 | $ 1.078 | $ 0.667 |
Cumulative dividend rate per annum | 5.75% | |||
Price per share (in usd per share) | 25 | $ 25 | ||
Preferred stock, Series B | ||||
EPS available to Duke Energy common stockholders | ||||
Dividends declared on preferred stock per depositary share (in usd per share) | 24.375 | $ 49.292 | ||
Cumulative dividend rate per annum | 4.875% | |||
Liquidation preference per share (in usd per share) | $ 1,000 | $ 1,000 |
Stockholders' Equity (Common St
Stockholders' Equity (Common Stock) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Billions | 1 Months Ended | ||||
Aug. 31, 2020 | May 31, 2020 | Mar. 31, 2020 | Nov. 30, 2019 | Sep. 30, 2020 | |
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 | 936 | 903 | 940 | 28,750 | |
Forward contract indexed to issuer's equity, forward rate per share | $ 79.52 | $ 82.44 | $ 89.76 | $ 85.99 | |
If net share settlement was elected | Equity forwards | |||||
Forward Contract Indexed to Issuer's Equity [Line Items] | |||||
Forward Contract Indexed to Issuer's Equity, Settlement Alternatives, Shares, at Fair Value | 1,900 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - Qualified Pension Plans - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | $ 41 | $ 42 | $ 124 | $ 116 |
Interest cost on projected benefit obligation | 67 | 77 | 202 | 242 |
Expected return on plan assets | (143) | (140) | (429) | (426) |
Amortization of actuarial loss | 32 | 28 | 96 | 77 |
Amortization of prior service credit | (8) | (8) | (24) | (24) |
Amortization of settlement charges | 11 | 16 | ||
Net periodic pension costs | (1) | (15) | (15) | |
Duke Energy Carolinas | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 12 | 13 | 38 | 37 |
Interest cost on projected benefit obligation | 16 | 17 | 47 | 58 |
Expected return on plan assets | (36) | (36) | (108) | (111) |
Amortization of actuarial loss | 7 | 6 | 21 | 17 |
Amortization of prior service credit | (2) | (2) | (6) | (6) |
Amortization of settlement charges | 6 | 8 | ||
Net periodic pension costs | 3 | (2) | (5) | |
Progress Energy | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 12 | 13 | 36 | 34 |
Interest cost on projected benefit obligation | 21 | 24 | 64 | 76 |
Expected return on plan assets | (48) | (45) | (143) | (134) |
Amortization of actuarial loss | 10 | 10 | 30 | 28 |
Amortization of prior service credit | (1) | (2) | (2) | |
Amortization of settlement charges | 5 | 6 | ||
Net periodic pension costs | 1 | (9) | 2 | |
Duke Energy Progress | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 6 | 7 | 20 | 19 |
Interest cost on projected benefit obligation | 10 | 10 | 29 | 34 |
Expected return on plan assets | (22) | (22) | (66) | (66) |
Amortization of actuarial loss | 4 | 4 | 13 | 10 |
Amortization of prior service credit | (1) | (1) | ||
Amortization of settlement charges | 5 | 6 | ||
Net periodic pension costs | 3 | (1) | 1 | (4) |
Duke Energy Florida | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 5 | 5 | 16 | 15 |
Interest cost on projected benefit obligation | 12 | 14 | 35 | 41 |
Expected return on plan assets | (25) | (22) | (76) | (66) |
Amortization of actuarial loss | 6 | 6 | 17 | 18 |
Amortization of prior service credit | (1) | (1) | ||
Amortization of settlement charges | 1 | 1 | ||
Net periodic pension costs | (1) | 3 | (8) | 7 |
Duke Energy Ohio | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 1 | 1 | 3 | 3 |
Interest cost on projected benefit obligation | 4 | 5 | 12 | 14 |
Expected return on plan assets | (7) | (7) | (21) | (21) |
Amortization of actuarial loss | 2 | 2 | 5 | 3 |
Net periodic pension costs | 1 | (1) | (1) | |
Duke Energy Indiana | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 2 | 2 | 6 | 6 |
Interest cost on projected benefit obligation | 6 | 6 | 17 | 19 |
Expected return on plan assets | (11) | (11) | (32) | (32) |
Amortization of actuarial loss | 3 | 3 | 9 | 6 |
Amortization of prior service credit | (1) | (1) | ||
Amortization of settlement charges | 1 | 1 | ||
Net periodic pension costs | 1 | (2) | ||
Piedmont Natural Gas | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 1 | 1 | 4 | 4 |
Interest cost on projected benefit obligation | 2 | 2 | 7 | 8 |
Expected return on plan assets | (5) | (5) | (16) | (16) |
Amortization of actuarial loss | 2 | 2 | 7 | 5 |
Amortization of prior service credit | (2) | (2) | (7) | (7) |
Amortization of settlement charges | 1 | 1 | ||
Net periodic pension costs | $ (1) | $ (2) | $ (4) | $ (6) |
Income Taxes (Effective Tax Rat
Income Taxes (Effective Tax Rates) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 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 | 7.80% | 12.40% | (6.40%) | 12.50% |
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 | 12.00% | 16.70% | 13.60% | 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 | 10.40% | 15.30% | 13.40% | 16.20% |
Duke Energy Progress | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Effective tax rate | 3.10% | 14.70% | 10.00% | 16.10% |
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 | 21.40% | 16.50% | 20.30% | 18.00% |
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 | 16.70% | 12.90% | 16.60% | 15.20% |
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 | 19.60% | 23.20% | 19.40% | 23.70% |
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 | 16.70% | 35.70% | 3.70% | 18.50% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - AMT credit carryforwards $ in Millions | 3 Months Ended |
Sep. 30, 2020USD ($) | |
Tax Credit Carryforward [Line Items] | |
AMT credit received | $ 572 |
Interest income | $ 19 |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) - Subsequent event customer in Millions, $ in Millions | Oct. 29, 2020USD ($)customer |
Subsequent Event [Line Items] | |
Customer power outages | customer | 1 |
Estimated storm costs, expected not to exceed | $ | $ 100 |