DUKE ENERGY CORP, 10-K filed on 2/23/2024
Annual Report
v3.24.0.1
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2023
Jan. 31, 2024
Jun. 30, 2023
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2023    
Current Fiscal Year End Date --12-31    
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 525 South Tryon Street    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28202    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 69,080,869,078
Entity Common Stock, Shares Outstanding   770,811,446  
Documents Incorporated by Reference
Portions of the Duke Energy definitive proxy statement for the 2024 Annual Meeting of the Shareholders or an amendment to this Annual Report are incorporated by reference into PART III, Items 10, 11 and 13 hereof.
This combined Form 10-K is filed separately by eight registrants: Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont (collectively the Duke Energy Registrants). Information contained herein relating to any individual registrant is filed by such registrant solely on its own behalf. Each registrant makes no representation as to information relating exclusively to the other registrants.
Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont meet the conditions set forth in General Instructions I(1)(a) and (b) of Form 10-K and are, therefore, filing this Form 10-K with the reduced disclosure format specified in General Instructions I(2) of Form 10-K. 		   
Entity Central Index Key 0001326160    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Amendment Flag false    
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 5.625% Coupon Due September 2078      
Document Information [Line Items]      
Title of 12(b) Security 5.625% Junior Subordinated Debentures    
Trading Symbol DUKB    
Security Exchange Name NYSE    
Depositary Share      
Document Information [Line Items]      
Title of 12(b) Security Depositary Shares    
Trading Symbol DUK PR A    
Security Exchange Name NYSE    
3.10% Senior Notes due 2028      
Document Information [Line Items]      
Title of 12(b) Security 3.10% Senior Notes due 2028    
Trading Symbol DUK 28A    
Security Exchange Name NYSE    
3.85% Senior Notes due 2034      
Document Information [Line Items]      
Title of 12(b) Security 3.85% Senior Notes due 2034    
Trading Symbol DUK 34    
Security Exchange Name NYSE    
Duke Energy Carolinas      
Document Information [Line Items]      
Entity File Number 1-4928    
Entity Registrant Name DUKE ENERGY CAROLINAS, LLC    
Entity Tax Identification Number 56-0205520    
Entity Incorporation, State or Country Code NC    
Entity Address, Address Line One 525 South Tryon Street    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28202    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
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 411 Fayetteville Street    
Entity Address, City or Town Raleigh    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 27601    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer No    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   100  
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 411 Fayetteville Street    
Entity Address, City or Town Raleigh    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 27601    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
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 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
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 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   89,663,086  
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 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Central Index Key 0000081020    
Piedmont      
Document Information [Line Items]      
Entity File Number 1-6196    
Entity Registrant Name PIEDMONT NATURAL GAS COMPANY, INC.    
Entity Tax Identification Number 56-0556998    
Entity Incorporation, State or Country Code NC    
Entity Address, Address Line One 525 South Tryon Street    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28202    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   100  
Entity Central Index Key 0000078460    
v3.24.0.1
Audit Information
 12 Months Ended
Dec. 31, 2023
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Carolinas  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Progress Energy  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Progress  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Florida  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Ohio  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Indiana  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Piedmont  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
v3.24.0.1
Property, Plant and Equipment (Schedule of Capitalized Interest) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Property, Plant and Equipment [Line Items]      
Capitalized interest $ 201 $ 118 $ 66
Duke Energy Carolinas      
Property, Plant and Equipment [Line Items]      
Capitalized interest 62 50 29
Progress Energy      
Property, Plant and Equipment [Line Items]      
Capitalized interest 41 26 20
Duke Energy Progress      
Property, Plant and Equipment [Line Items]      
Capitalized interest 35 19 14
Duke Energy Florida      
Property, Plant and Equipment [Line Items]      
Capitalized interest 6 7 6
Duke Energy Ohio      
Property, Plant and Equipment [Line Items]      
Capitalized interest 16 14 20
Duke Energy Indiana      
Property, Plant and Equipment [Line Items]      
Capitalized interest 21 3  
PISCC amortization     17
Duke Energy Indiana | PISCC Amortization      
Property, Plant and Equipment [Line Items]      
PISCC amortization     24
Duke Energy Indiana | Debt Component of AFUDC      
Property, Plant and Equipment [Line Items]      
Capitalized interest     7
Piedmont      
Property, Plant and Equipment [Line Items]      
Capitalized interest $ 8 $ 4 $ 9
v3.24.0.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Revenues                      
Regulated electric                 $ 26,617 $ 25,759 $ 22,319
Regulated natural gas                 2,152 2,724 2,008
Nonregulated electric and other                 291 285 294
Total operating revenues $ 7,212 $ 7,994 $ 6,578 $ 7,276 $ 7,351 $ 7,842 $ 6,564 $ 7,011 29,060 28,768 24,621
Operating Expenses                      
Operation, maintenance and other                 5,625 5,734 5,703
Depreciation and amortization                 5,253 5,086 4,762
Property and other taxes                 1,400 1,466 1,355
Impairment of assets and other charges                 85 434 353
Total operating expenses                 22,042 22,778 19,133
Gains on Sales of Other Assets and Other, net                 52 22 12
Operating Income 1,855 2,111 1,430 1,674 1,194 2,056 1,448 1,314 7,070 6,012 5,500
Other Income and Expenses                      
Equity in earnings of unconsolidated affiliates                 113 113 62
Other income and expenses, net                 598 392 636
Total other income and expenses                 711 505 698
Interest Expense                 3,014 2,439 2,207
Income From Continuing Operations Before Income Taxes                 4,767 4,078 3,991
Income Tax Expense From Continuing Operations                 438 300 268
Income From Continuing Operations 1,135 1,473 751 970 635 1,410 898 835 4,329 3,778 3,723
(Loss) Income from discontinued operations, net of tax (139) (152) (955) (209) (1,293) 3 (18) (15) (1,455) (1,323) (144)
Net Income 996 1,321 (204) 761 (658) 1,413 880 820 2,874 2,455 3,579
Add: Net (Income) Loss Attributable to Noncontrolling Interests                 (33) 95 329
Net Income Attributable to Duke Energy Corporation                 2,841 2,550 3,908
Less: Preferred Dividends                 106 106 106
Net Income Available to Duke Energy Corporation Common Stockholders $ 991 $ 1,213 $ (234) $ 765 $ (650) $ 1,383 $ 893 $ 818 $ 2,735 $ 2,444 $ 3,802
Income from continuing operations available to Duke Energy Corporation common stockholders                      
Diluted (usd per share) $ 1.41 $ 1.83 $ 0.91 $ 1.20 $ 0.80 $ 1.78 $ 1.11 $ 1.06 $ 5.35 $ 4.74 $ 4.68
Basic (usd per share) 1.41 1.83 0.91 1.20 0.80 1.78 1.11 1.06 5.35 4.74 4.68
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders                      
Basic (usd per share)                 (1.81) (1.57) 0.26
Diluted (usd per share)                 (1.81) (1.57) 0.26
Net income available to Duke Energy Corporation common stockholders                      
Basic (usd per share) 1.27 1.59 (0.32) 1.01 (0.86) 1.81 1.14 1.08 3.54 3.17 4.94
Diluted (usd per share) $ 1.27 $ 1.59 $ (0.32) $ 1.01 $ (0.86) $ 1.81 $ 1.14 $ 1.08 $ 3.54 $ 3.17 $ 4.94
Weighted average shares outstanding                      
Basic (in shares)                 771 770 769
Diluted (in shares)                 771 770 769
Fuel used in electric generation and purchased power                      
Operating Expenses                      
Cost of sales                 $ 9,086 $ 8,782 $ 6,255
Cost of natural gas                      
Operating Expenses                      
Cost of sales                 $ 593 $ 1,276 $ 705
v3.24.0.1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]      
Net income $ 2,874 $ 2,455 $ 3,579
Other Comprehensive Income (Loss), net of tax      
Pension and OPEB adjustments [1] (1) (19) 7
Net unrealized gains (losses) on cash flow hedges [1] 63 285 (68)
Reclassification into earnings from cash flow hedges [1] 27 (38) 13
Net unrealized gains (losses) on fair value hedges [1] 37 (33)  
Unrealized gains (losses) on available-for-sale securities [1] 8 (21) (8)
Other Comprehensive Income (Loss), net of tax [1] 134 174 (56)
Comprehensive Income 3,008 2,629 3,523
Add: Comprehensive (Income) Loss Attributable to Noncontrolling Interests (33) 84 319
Comprehensive Income Attributable to Duke Energy Corporation 2,975 2,713 3,842
Less: Preferred Dividends 106 106 106
Comprehensive Income Available to Duke Energy Corporation Common Stockholders $ 2,869 $ 2,607 $ 3,736
[1] Net of income tax expense of approximately $40 million and $52 million for the years ended December 31, 2023, and 2022, respectively, and income tax benefit of $17 million for the year ended December 31, 2021.
v3.24.0.1
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Other comprehensive income, tax expense $ 40 $ 52 $ (17)
v3.24.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 253 $ 409
Receivables (net of allowance for doubtful accounts) 3,019 3,106
Receivables of VIEs (net of allowance for doubtful accounts) 1,112 1,309
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Regulatory assets 3,648 3,485
Assets held for sale 14 356
Other (includes amounts related to VIEs) 431 973
Total current assets 12,769 13,222
Property, Plant and Equipment    
Cost 171,351 163,839
Accumulated depreciation and amortization (56,038) (52,100)
Facilities to be retired, net 2 9
Net property, plant and equipment 115,315 111,748
Other Noncurrent Assets    
Goodwill 19,303 19,303
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Nuclear decommissioning trust funds 10,143 8,637
Operating lease right-of-use assets, net 1,092 1,042
Investments in equity method unconsolidated affiliates 492 455
Total other noncurrent assets held for sale 197 5,634
Other (including amounts related to VIEs) 3,964 3,400
Total other noncurrent assets 48,809 53,116
Total Assets 176,893 178,086
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 4,228 4,754
Notes payable and commercial paper 4,288 3,952
Taxes accrued 816 722
Interest accrued 745 626
Current maturities of long-term debt 2,800 3,878
Asset retirement obligations 596 773
Regulatory liabilities 1,369 1,466
Liabilities associated with assets held for sale 122 535
Other 2,319 2,167
Total current liabilities 17,283 18,873
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Other Noncurrent Liabilities    
Deferred income taxes 10,556 9,964
Total noncurrent asset retirement obligation 8,560 11,955
Total noncurrent regulatory liabilities 14,039 13,582
Operating lease liabilities 917 876
Accrued pension and other post-retirement benefit costs 485 832
Investment tax credits 864 849
Liabilities associated with assets held for sale 157 1,927
Other noncurrent liabilities 1,393 1,502
Total other noncurrent liabilities 36,971 41,487
Commitments and Contingencies
Equity    
Common stock 1 1
Additional paid-in capital 44,920 44,862
Retained earnings 2,235 2,637
Accumulated other comprehensive loss (6) (140)
Total Duke Energy Corporation stockholders' equity 49,112 49,322
Noncontrolling interests 1,075 2,531
Total equity 50,187 51,853
Total Liabilities and Equity 176,893 178,086
Consolidated VIEs    
Current Assets    
Inventory (includes $462 at 2023 related to VIEs) 462  
Regulatory assets 110 106
Other (includes amounts related to VIEs) 90 116
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Other (including amounts related to VIEs) 49 52
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 188  
Current maturities of long-term debt 428 350
Long-Term Debt (includes amounts related to VIEs) 3,000 3,108
Other Noncurrent Liabilities    
Other noncurrent liabilities 35  
Series A Preferred Stock    
Equity    
Preferred stock 973 973
Series B Preferred Stock    
Equity    
Preferred stock $ 989 $ 989
v3.24.0.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts - receivables $ 55 $ 40
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Regulatory assets 3,648 3,485
Current Assets: Other 431 973
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Other (including amounts related to VIEs) 3,964 3,400
Accounts payable 4,228 4,754
Current maturities of long-term debt 2,800 3,878
Long-Term Debt (includes amounts related to VIEs) $ 72,452 $ 65,873
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares outstanding (in shares) 771,000,000 770,000,000
Other (includes $54 at 2023 related to VIEs) $ 1,393 $ 1,502
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 150 176
Inventory (includes $462 at 2023 related to VIEs) 462  
Regulatory assets 110 106
Current Assets: Other 90 116
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Other (including amounts related to VIEs) 49 52
Accounts payable 188  
Current maturities of long-term debt 428 350
Long-Term Debt (includes amounts related to VIEs) 3,000 $ 3,108
Other (includes $54 at 2023 related to VIEs) $ 35  
Series A Preferred Stock    
Preferred stock, par value (in usd per share) $ 0.001 $ 0.001
Preferred stock, depositary shares authorized (in shares) 40,000,000 40,000,000
Preferred stock, depositary shares outstanding (in shares) 40,000,000 40,000,000
Series B Preferred Stock    
Preferred stock, par value (in usd per share) $ 0.001 $ 0.001
Preferred stock, depositary shares authorized (in shares) 1,000,000 1,000,000
Preferred stock, depositary shares outstanding (in shares) 1,000,000 1,000,000
v3.24.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 2,874 $ 2,455 $ 3,579
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,084 5,843 5,663
Equity in (earnings) losses of unconsolidated affiliates (98) (114) (28)
Losses on sales of Commercial Renewables Disposal Groups 1,725 1,748 0
Equity component of AFUDC (198) (197) (171)
Impairment of assets and other charges 85 434 356
Deferred income taxes 3 (200) 191
Contributions to qualified pension plans (100) (58)  
Payments for asset retirement obligations (632) (584) (540)
Provision for rate refunds (63) (130) (70)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions (18) 19 50
Receivables 443 (788) (297)
Inventory (706) (476) (34)
Other current assets (267) (1,498) (1,136)
Increase (decrease) in      
Accounts payable (800) 805 249
Taxes accrued 126 10 284
Other current liabilities (26) (153) (13)
Other assets 914 (1,577) 125
Other liabilities 584 410 95
Net cash provided by operating activities 9,878 5,927 8,290
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,604) (11,367) (9,715)
Contributions to equity method investments (34) (58) (81)
Return of investment capital 16 6 44
Purchases of debt and equity securities (3,761) (4,243) (6,098)
Proceeds from sales and maturities of debt and equity securities 3,824 4,333 6,103
Proceeds from the sales of other assets 149 83 0
Proceeds from the sales of Commercial Renewables Disposal Groups, net of cash divested 734 0 0
Disbursements to canceled equity method investments     (855)
Other (799) (727) (333)
Net cash used in investing activities (12,475) (11,973) (10,935)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 10,028 11,874 9,052
Proceeds from the issuance of common stock 8 9 5
Payments for the redemption of long-term debt (4,737) (4,396) (5,294)
Proceeds from the issuance of short-term debt with original maturities greater than 90 days 610 80 332
Payments for the redemption of short-term debt with original maturities greater than 90 days (125) (287) (997)
Notes payable and commercial paper (343) 781 1,144
Contributions from noncontrolling interests 278 1,377 1,575
Dividends paid (3,244) (3,179) (3,114)
Other (124) (130) (94)
Net cash provided by financing activities 2,351 6,129 2,609
Net (decrease) increase in cash, cash equivalents and restricted cash (246) 83 (36)
Cash, cash equivalents and restricted cash at beginning of period 603 520 556
Cash, cash equivalents and restricted cash at end of period 357 603 520
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 2,883 2,361 2,248
Cash paid for (received from) income taxes 1 (6) (3)
Significant non-cash transactions:      
Accrued capital expenditures $ 1,908 $ 1,766 $ 1,325
v3.24.0.1
Condensed Consolidated Statements of Changes in Equity - USD ($)
shares in Millions, $ in Millions
Total
Preferred Stock
Total Equity
Common Stock
Additional Paid-in Capital
Retained Earnings
Net Gains (Losses) on Hedges
 [1]
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Pension and OPEB Adjustments
Noncontrolling Interests
Beginning Balance (Attributable to Parent) at Dec. 31, 2020   $ 1,962 $ 47,964 $ 1 $ 43,767 $ 2,471 $ (167) $ 6 $ (76)  
Beginning Balance (in shares) at Dec. 31, 2020       769            
Beginning Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2020                   $ 1,220
Beginning Balance (Parent) at Dec. 31, 2020 $ 49,184                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss) 3,473   3,802     3,802       (329)
Other comprehensive (loss) income (56) [2]   (66)       (65) (8) 7 10
Common stock issuances, including dividend reinvestment and employee benefits 68   68   68          
Common stock dividends (3,008)   (3,008)     (3,008)        
Sale of noncontrolling interest [3] 999   545   545         454
Contribution from noncontrolling interest, net of transaction costs(a) [4] 550                 550
Distributions to noncontrolling interest in subsidiaries (66)                 (66)
Other (8)   (9)   (9)         1
Ending Balance (Attributable to Parent) at Dec. 31, 2021   1,962 49,296 $ 1 44,371 3,265 (232) (2) (69)  
Beginning Balance (in shares) at Dec. 31, 2021       769            
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2021                   1,840
Ending Balance (Parent) at Dec. 31, 2021 51,136                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss) 2,349   2,444     2,444       (95)
Other comprehensive (loss) income 174 [2]   163       203 (21) (19) 11
Common stock issuances, including dividend reinvestment and employee benefits (in shares)       1            
Common stock issuances, including dividend reinvestment and employee benefits 76   76   76          
Common stock dividends (3,073)   (3,073)     (3,073)        
Sale of noncontrolling interest [3] 1,034   465   465         569
Purchase of noncontrolling interest (20)   (51)   (51)         31
Contribution from noncontrolling interest, net of transaction costs(a) [4] 314                 314
Distributions to noncontrolling interest in subsidiaries (140)                 (140)
Other 3   2   1 1       1
Ending Balance (Attributable to Parent) at Dec. 31, 2022 $ 49,322 1,962 49,322 $ 1 44,862 2,637 (29) (23) (88)  
Beginning Balance (in shares) at Dec. 31, 2022 770     770            
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2022 $ 2,531                 2,531
Ending Balance (Parent) at Dec. 31, 2022 51,853                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss) 2,768   2,735     2,735       33
Other comprehensive (loss) income 134 [2]   134       127 8 (1)  
Common stock issuances, including dividend reinvestment and employee benefits (in shares)       1            
Common stock issuances, including dividend reinvestment and employee benefits 78   78   78          
Common stock dividends (3,138)   (3,138)     (3,138)        
Sale of noncontrolling interest (3)   (13)   (13)         10
Contribution from noncontrolling interest, net of transaction costs(a) [4] 278                 278
Distributions to noncontrolling interest in subsidiaries (59)                 (59)
Sale of Commercial Renewables Disposal Groups [5] (1,722)                 (1,722)
Other (2)   (6)   (7) 1       4
Ending Balance (Attributable to Parent) at Dec. 31, 2023 $ 49,112 $ 1,962 $ 49,112 $ 1 $ 44,920 $ 2,235 $ 98 $ (15) $ (89)  
Beginning Balance (in shares) at Dec. 31, 2023 771     771            
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2023 $ 1,075                 $ 1,075
Ending Balance (Parent) at Dec. 31, 2023 $ 50,187                  
[1] See Duke Energy Consolidated Statements of Comprehensive Income for detailed activity related to Cash Flow and Fair Value Hedges.
[2] Net of income tax expense of approximately $40 million and $52 million for the years ended December 31, 2023, and 2022, respectively, and income tax benefit of $17 million for the year ended December 31, 2021.
[3] Relates primarily to the sale of a noncontrolling interest in Duke Energy Indiana. See Note 2 for additional information.
[4] Relates to tax equity financing activity in the Commercial Renewables Disposal Groups.
[5] See Note 2 for additional information.
v3.24.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Carolinas - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Revenues $ 29,060 $ 28,768 $ 24,621
Operating Expenses      
Operation, maintenance and other 5,625 5,734 5,703
Depreciation and amortization 5,253 5,086 4,762
Property and other taxes 1,400 1,466 1,355
Impairment of assets and other charges 85 434 353
Total operating expenses 22,042 22,778 19,133
Gains on Sales of Other Assets and Other, net 52 22 12
Operating Income 7,070 6,012 5,500
Other Income and Expenses, net 711 505 698
Interest Expense 3,014 2,439 2,207
Income From Continuing Operations Before Income Taxes 4,767 4,078 3,991
Income Tax Expense From Continuing Operations 438 300 268
Net Income Attributable to Duke Energy Corporation 2,841 2,550 3,908
Net unrealized gains (losses) on cash flow hedges [1] 63 285 (68)
Other comprehensive (loss) income [1] 134 174 (56)
Comprehensive Income Attributable to Duke Energy Corporation 2,975 2,713 3,842
Duke Energy Carolinas      
Operating Revenues 8,288 7,857 7,102
Operating Expenses      
Cost of sales 2,524 2,015 1,601
Operation, maintenance and other 1,774 1,892 1,833
Depreciation and amortization 1,593 1,526 1,468
Property and other taxes 320 340 320
Impairment of assets and other charges 44 26 227
Total operating expenses 6,255 5,799 5,449
Gains on Sales of Other Assets and Other, net 26 4 2
Operating Income 2,059 2,062 1,655
Other Income and Expenses, net 238 221 270
Interest Expense 686 557 538
Income From Continuing Operations Before Income Taxes 1,611 1,726 1,387
Income Tax Expense From Continuing Operations 141 126 51
Net Income Attributable to Duke Energy Corporation 1,470 1,600 1,336
Net unrealized gains (losses) on cash flow hedges     1
Other comprehensive (loss) income     1
Comprehensive Income Attributable to Duke Energy Corporation $ 1,470 $ 1,600 $ 1,337
[1] Net of income tax expense of approximately $40 million and $52 million for the years ended December 31, 2023, and 2022, respectively, and income tax benefit of $17 million for the year ended December 31, 2021.
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Carolinas - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 253 $ 409
Receivables of VIEs (net of allowance for doubtful accounts) 1,112 1,309
Receivables (net of allowance for doubtful accounts) 3,019 3,106
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Regulatory assets 3,648 3,485
Other (includes amounts related to VIEs) 431 973
Total current assets 12,769 13,222
Property, Plant and Equipment    
Cost 171,351 163,839
Accumulated depreciation and amortization (56,038) (52,100)
Facilities to be retired, net 2 9
Net property, plant and equipment 115,315 111,748
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Nuclear decommissioning trust funds 10,143 8,637
Operating lease right-of-use assets, net 1,092 1,042
Other (including amounts related to VIEs) 3,964 3,400
Total other noncurrent assets 48,809 53,116
Total Assets 176,893 178,086
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 4,228 4,754
Taxes accrued 816 722
Interest accrued 745 626
Current maturities of long-term debt 2,800 3,878
Asset retirement obligations 596 773
Regulatory liabilities 1,369 1,466
Other 2,319 2,167
Total current liabilities 17,283 18,873
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Other Noncurrent Liabilities    
Deferred income taxes 10,556 9,964
Total noncurrent asset retirement obligation 8,560 11,955
Total noncurrent regulatory liabilities 14,039 13,582
Operating lease liabilities 917 876
Accrued pension and other post-retirement benefit costs 485 832
Investment tax credits 864 849
Other noncurrent liabilities 1,393 1,502
Total other noncurrent liabilities 36,971 41,487
Commitments and Contingencies
Equity    
Accumulated other comprehensive loss (6) (140)
Total Liabilities and Equity 176,893 178,086
Consolidated VIEs    
Current Assets    
Inventory (includes $462 at 2023 related to VIEs) 462  
Regulatory assets 110 106
Other (includes amounts related to VIEs) 90 116
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Other (including amounts related to VIEs) 49 52
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 188  
Current maturities of long-term debt 428 350
Long-Term Debt (includes amounts related to VIEs) 3,000 3,108
Other Noncurrent Liabilities    
Other noncurrent liabilities 35  
Duke Energy Carolinas    
Current Assets    
Cash and cash equivalents 9 44
Receivables of VIEs (net of allowance for doubtful accounts) 265 338
Receivables (net of allowance for doubtful accounts) 991 928
Inventory (includes $462 at 2023 related to VIEs) 1,484 1,164
Regulatory assets 1,564 1,095
Other (includes amounts related to VIEs) 31 216
Total current assets 4,547 4,175
Property, Plant and Equipment    
Cost 56,670 54,650
Accumulated depreciation and amortization (19,896) (18,669)
Net property, plant and equipment 36,774 35,981
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 3,916 4,293
Nuclear decommissioning trust funds 5,686 4,783
Operating lease right-of-use assets, net 78 78
Other (including amounts related to VIEs) 1,109 1,036
Total other noncurrent assets 10,789 10,190
Total Assets 52,110 50,346
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 1,183 1,472
Taxes accrued 281 228
Interest accrued 179 120
Current maturities of long-term debt 19 1,018
Asset retirement obligations 224 261
Regulatory liabilities 587 530
Other 702 580
Total current liabilities 4,038 5,651
Long-Term Debt (includes amounts related to VIEs) 15,693 12,948
Other Noncurrent Liabilities    
Deferred income taxes 4,379 4,153
Total noncurrent asset retirement obligation 3,789 5,121
Total noncurrent regulatory liabilities 5,990 5,783
Operating lease liabilities 75 83
Accrued pension and other post-retirement benefit costs 57 38
Investment tax credits 301 300
Other noncurrent liabilities 581 527
Total other noncurrent liabilities 15,172 16,005
Commitments and Contingencies
Equity    
Member's equity 16,913 15,448
Accumulated other comprehensive loss (6) (6)
Total member's equity 16,907 15,442
Total Liabilities and Equity 52,110 50,346
Duke Energy Carolinas | Consolidated VIEs    
Current Assets    
Regulatory assets 12 12
Other (includes amounts related to VIEs) 9 8
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 196 208
Current Liabilities    
Current maturities of long-term debt 10 10
Long-Term Debt (includes amounts related to VIEs) 708 689
Duke Energy Carolinas | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 203 390
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 195 209
Notes payable to affiliated companies 668 1,233
Long-Term Debt (includes amounts related to VIEs) $ 300 $ 300
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Carolinas (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts - receivables $ 55 $ 40
Regulatory assets 3,648 3,485
Current Assets: Other 431 973
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Current maturities of long-term debt 2,800 3,878
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 150 176
Regulatory assets 110 106
Current Assets: Other 90 116
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Current maturities of long-term debt 428 350
Long-Term Debt (includes amounts related to VIEs) 3,000 3,108
Duke Energy Carolinas    
Allowance for doubtful accounts - receivables 11 3
Regulatory assets 1,564 1,095
Current Assets: Other 31 216
Other Noncurrent Assets: Regulatory assets 3,916 4,293
Current maturities of long-term debt 19 1,018
Long-Term Debt (includes amounts related to VIEs) 15,693 12,948
Duke Energy Carolinas | Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 45 65
Regulatory assets 12 12
Current Assets: Other 9 8
Other Noncurrent Assets: Regulatory assets 196 208
Current maturities of long-term debt 10 10
Long-Term Debt (includes amounts related to VIEs) $ 708 $ 689
v3.24.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Carolinas - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 2,841 $ 2,550 $ 3,908
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,084 5,843 5,663
Equity component of AFUDC (198) (197) (171)
Gains on sales of other assets (52) (22) (13)
Impairment of assets and other charges 85 434 353
Deferred income taxes 3 (200) 191
Contributions to qualified pension plans (100) (58)  
Payments for asset retirement obligations (632) (584) (540)
Provision for rate refunds (63) (130) (70)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions (18) 19 50
Receivables 443 (788) (297)
Inventory (706) (476) (34)
Other current assets (267) (1,498) (1,136)
Increase (decrease) in      
Accounts payable (800) 805 249
Taxes accrued 126 10 284
Other current liabilities (26) (153) (13)
Other assets 914 (1,577) 125
Other liabilities 584 410 95
Net cash provided by operating activities 9,878 5,927 8,290
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,604) (11,367) (9,715)
Purchases of debt and equity securities (3,761) (4,243) (6,098)
Proceeds from sales and maturities of debt and equity securities 3,824 4,333 6,103
Other (799) (727) (333)
Net cash used in investing activities (12,475) (11,973) (10,935)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 10,028 11,874 9,052
Payments for the redemption of long-term debt (4,737) (4,396) (5,294)
Other (124) (130) (94)
Net cash provided by financing activities 2,351 6,129 2,609
Net (decrease) increase in cash, cash equivalents and restricted cash (246) 83 (36)
Cash, cash equivalents and restricted cash at beginning of period 603 520 556
Cash, cash equivalents and restricted cash at end of period 357 603 520
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 2,883 2,361 2,248
Cash paid for (received from) income taxes 1 (6) (3)
Significant non-cash transactions:      
Accrued capital expenditures 1,908 1,766 1,325
Duke Energy Carolinas      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 1,470 1,600 1,336
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,845 1,787 1,743
Equity component of AFUDC (91) (98) (65)
Gains on sales of other assets (26) (4) (2)
Impairment of assets and other charges 44 26 227
Deferred income taxes (53) 210 (213)
Contributions to qualified pension plans (26) (15)  
Payments for asset retirement obligations (210) (200) (182)
Provision for rate refunds (39) (74) (46)
(Increase) decrease in      
Receivables 22 (102) (99)
Receivables from affiliated companies 187 (200) (66)
Inventory (320) (138) (16)
Other current assets (495) (592) (309)
Increase (decrease) in      
Accounts payable (447) 377 5
Accounts payable to affiliated companies (14) (75) 85
Taxes accrued 64 (46) 206
Other current liabilities 63 (91) (39)
Other assets 703 (760) 23
Other liabilities 108 (36) 116
Net cash provided by operating activities 2,785 1,569 2,704
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (3,733) (3,304) (2,693)
Purchases of debt and equity securities (2,025) (2,633) (3,425)
Proceeds from sales and maturities of debt and equity securities 2,025 2,633 3,425
Proceeds from the sales of other assets 30 62  
Other (288) (243) (177)
Net cash used in investing activities (3,991) (3,485) (2,870)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 2,780 1,441 1,651
Payments for the redemption of long-term debt (1,042) (436) (617)
Notes payable to affiliated companies (565) 1,007 (280)
Distributions to parent   (50) (600)
Other (1) (1) (1)
Net cash provided by financing activities 1,172 1,961 153
Net (decrease) increase in cash, cash equivalents and restricted cash (34) 45 (13)
Cash, cash equivalents and restricted cash at beginning of period 53 8 21
Cash, cash equivalents and restricted cash at end of period 19 53 8
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 528 546 508
Cash paid for (received from) income taxes 151 (60) 233
Significant non-cash transactions:      
Accrued capital expenditures $ 613 $ 475 $ 359
v3.24.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Carolinas - USD ($)
$ in Millions
Total
Duke Energy Carolinas
Duke Energy Carolinas
Member's Equity
Duke Energy Carolinas
Net Losses on Cash Flow Hedges
Beginning balance at Dec. 31, 2020   $ 13,154 $ 13,161 $ (7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ 3,908 1,336 1,336  
Other comprehensive (loss) income (56) [1] 1   1
Distribution to parent (3,008) (600) (600)  
Other (8)      
Ending balance at Dec. 31, 2021   13,891 13,897 (6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 2,550 1,600 1,600  
Other comprehensive (loss) income [1] 174      
Distribution to parent (3,073) (50) (50)  
Other 3 1 1  
Ending balance at Dec. 31, 2022   15,442 15,448 (6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 2,841 1,470 1,470  
Other comprehensive (loss) income [1] 134      
Distribution to parent (3,138)      
Other $ (2) (5) (5)  
Ending balance at Dec. 31, 2023   $ 16,907 $ 16,913 $ (6)
[1] Net of income tax expense of approximately $40 million and $52 million for the years ended December 31, 2023, and 2022, respectively, and income tax benefit of $17 million for the year ended December 31, 2021.
v3.24.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Progress Energy - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Revenues $ 29,060 $ 28,768 $ 24,621
Operating Expenses      
Operation, maintenance and other 5,625 5,734 5,703
Depreciation and amortization 5,253 5,086 4,762
Property and other taxes 1,400 1,466 1,355
Impairment of assets and other charges 85 434 353
Total operating expenses 22,042 22,778 19,133
Gains on Sales of Other Assets and Other, net 52 22 12
Operating Income 7,070 6,012 5,500
Other Income and Expenses, net 711 505 698
Interest Expense 3,014 2,439 2,207
Income From Continuing Operations Before Income Taxes 4,767 4,078 3,991
Income Tax Expense From Continuing Operations 438 300 268
Net Income 2,874 2,455 3,579
Add: Net (Income) Loss Attributable to Noncontrolling Interests 33 (95) (329)
Net Income Attributable to Duke Energy Corporation 2,841 2,550 3,908
Pension and OPEB adjustments [1] (1) (19) 7
Net unrealized gains (losses) on cash flow hedges [1] 63 285 (68)
Unrealized gains (losses) on available-for-sale securities [1] 8 (21) (8)
Other comprehensive (loss) income [1] 134 174 (56)
Comprehensive Income 3,008 2,629 3,523
Less: Comprehensive Income Attributable to Noncontrolling Interests 33 (84) (319)
Comprehensive Income Attributable to Duke Energy Corporation 2,975 2,713 3,842
Progress Energy      
Operating Revenues 13,544 13,125 11,057
Operating Expenses      
Cost of sales 5,026 5,078 3,584
Operation, maintenance and other 2,636 2,458 2,529
Depreciation and amortization 2,151 2,142 1,929
Property and other taxes 644 607 542
Impairment of assets and other charges 28 12 82
Total operating expenses 10,485 10,297 8,666
Gains on Sales of Other Assets and Other, net 27 11 14
Operating Income 3,086 2,839 2,405
Other Income and Expenses, net 201 181 215
Interest Expense 954 844 794
Income From Continuing Operations Before Income Taxes 2,333 2,176 1,826
Income Tax Expense From Continuing Operations 377 348 227
Net Income 1,956 1,828 1,599
Add: Net (Income) Loss Attributable to Noncontrolling Interests     1
Net Income Attributable to Duke Energy Corporation 1,956 1,828 1,598
Pension and OPEB adjustments (2) 5 1
Net unrealized gains (losses) on cash flow hedges 0 1 3
Unrealized gains (losses) on available-for-sale securities 3 (6)  
Other comprehensive (loss) income 1 0 4
Comprehensive Income 1,957 1,828 1,603
Less: Comprehensive Income Attributable to Noncontrolling Interests     1
Comprehensive Income Attributable to Duke Energy Corporation $ 1,957 $ 1,828 $ 1,602
[1] Net of income tax expense of approximately $40 million and $52 million for the years ended December 31, 2023, and 2022, respectively, and income tax benefit of $17 million for the year ended December 31, 2021.
v3.24.0.1
Condensed Consolidated Balance Sheets - Progress Energy - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 253 $ 409
Receivables of VIEs (net of allowance for doubtful accounts) 1,112 1,309
Receivables (net of allowance for doubtful accounts) 3,019 3,106
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Regulatory assets 3,648 3,485
Other (includes amounts related to VIEs) 431 973
Total current assets 12,769 13,222
Property, Plant and Equipment    
Cost 171,351 163,839
Accumulated depreciation and amortization (56,038) (52,100)
Facilities to be retired, net 2 9
Net property, plant and equipment 115,315 111,748
Other Noncurrent Assets    
Goodwill 19,303 19,303
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Nuclear decommissioning trust funds 10,143 8,637
Operating lease right-of-use assets, net 1,092 1,042
Other (including amounts related to VIEs) 3,964 3,400
Total other noncurrent assets 48,809 53,116
Total Assets 176,893 178,086
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 4,228 4,754
Taxes accrued 816 722
Interest accrued 745 626
Current maturities of long-term debt 2,800 3,878
Asset retirement obligations 596 773
Regulatory liabilities 1,369 1,466
Other 2,319 2,167
Total current liabilities 17,283 18,873
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Other Noncurrent Liabilities    
Deferred income taxes 10,556 9,964
Total noncurrent asset retirement obligation 8,560 11,955
Total noncurrent regulatory liabilities 14,039 13,582
Operating lease liabilities 917 876
Accrued pension and other post-retirement benefit costs 485 832
Investment tax credits 864 849
Other noncurrent liabilities 1,393 1,502
Total other noncurrent liabilities 36,971 41,487
Commitments and Contingencies
Equity    
Common stock 1 1
Additional paid-in capital 44,920 44,862
Retained earnings 2,235 2,637
Accumulated other comprehensive loss (6) (140)
Total Duke Energy Corporation stockholders' equity 49,112 49,322
Noncontrolling interests 1,075 2,531
Total equity 50,187 51,853
Total Liabilities and Equity 176,893 178,086
Consolidated VIEs    
Current Assets    
Inventory (includes $462 at 2023 related to VIEs) 462  
Regulatory assets 110 106
Other (includes amounts related to VIEs) 90 116
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Other (including amounts related to VIEs) 49 52
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 188  
Current maturities of long-term debt 428 350
Long-Term Debt (includes amounts related to VIEs) 3,000 3,108
Other Noncurrent Liabilities    
Other noncurrent liabilities 35  
Progress Energy    
Current Assets    
Cash and cash equivalents 59 108
Receivables of VIEs (net of allowance for doubtful accounts) 225 318
Receivables (net of allowance for doubtful accounts) 1,365 1,289
Inventory (includes $462 at 2023 related to VIEs) 1,901 1,579
Regulatory assets 1,661 1,833
Other (includes amounts related to VIEs) 134 342
Total current assets 5,435 5,491
Property, Plant and Equipment    
Cost 67,644 64,822
Accumulated depreciation and amortization (22,300) (20,584)
Net property, plant and equipment 45,344 44,238
Other Noncurrent Assets    
Goodwill 3,655 3,655
Other Noncurrent Assets: Regulatory assets 6,430 7,146
Nuclear decommissioning trust funds 4,457 3,855
Operating lease right-of-use assets, net 617 628
Other (including amounts related to VIEs) 1,156 1,066
Total other noncurrent assets 16,315 16,350
Total Assets 67,094 66,079
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 1,374 1,481
Taxes accrued 259 135
Interest accrued 224 206
Current maturities of long-term debt 661 697
Asset retirement obligations 245 289
Regulatory liabilities 418 576
Other 860 782
Total current liabilities 5,548 5,721
Long-Term Debt (includes amounts related to VIEs) 22,948 21,592
Other Noncurrent Liabilities    
Deferred income taxes 5,197 5,147
Total noncurrent asset retirement obligation 3,900 5,892
Total noncurrent regulatory liabilities 5,083 4,753
Operating lease liabilities 544 546
Accrued pension and other post-retirement benefit costs 266 292
Investment tax credits 371 358
Other noncurrent liabilities 227 222
Total other noncurrent liabilities 15,588 17,210
Commitments and Contingencies
Equity    
Additional paid-in capital 11,830 11,832
Retained earnings 11,040 9,585
Accumulated other comprehensive loss (10) (11)
Total equity 22,860 21,406
Total Liabilities and Equity 67,094 66,079
Progress Energy | Consolidated VIEs    
Current Assets    
Inventory (includes $462 at 2023 related to VIEs) 462  
Regulatory assets 98 94
Other (includes amounts related to VIEs) 68 88
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,446 1,507
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 188  
Current maturities of long-term debt 418 340
Long-Term Debt (includes amounts related to VIEs) 1,910 2,003
Other Noncurrent Liabilities    
Other noncurrent liabilities 19  
Progress Energy | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 90 22
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 464 712
Notes payable to affiliated companies 1,043 843
Long-Term Debt (includes amounts related to VIEs) $ 150 $ 150
v3.24.0.1
Condensed Consolidated Balance Sheets - Progress Energy (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts - receivables $ 55 $ 40
Regulatory assets 3,648 3,485
Current Assets: Other 431 973
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Current maturities of long-term debt 2,800 3,878
Long-Term Debt (includes amounts related to VIEs) $ 72,452 $ 65,873
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares outstanding (in shares) 771,000,000 770,000,000
Other (includes $54 at 2023 related to VIEs) $ 1,393 $ 1,502
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Accounts payable 4,228 4,754
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 150 176
Regulatory assets 110 106
Current Assets: Other 90 116
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Current maturities of long-term debt 428 350
Long-Term Debt (includes amounts related to VIEs) 3,000 3,108
Other (includes $54 at 2023 related to VIEs) 35  
Inventory (includes $462 at 2023 related to VIEs) 462  
Accounts payable 188  
Progress Energy    
Allowance for doubtful accounts - receivables 18 13
Regulatory assets 1,661 1,833
Current Assets: Other 134 342
Other Noncurrent Assets: Regulatory assets 6,430 7,146
Current maturities of long-term debt 661 697
Long-Term Debt (includes amounts related to VIEs) $ 22,948 $ 21,592
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 100 100
Common stock, shares outstanding (in shares) 100 100
Other (includes $54 at 2023 related to VIEs) $ 227 $ 222
Inventory (includes $462 at 2023 related to VIEs) 1,901 1,579
Accounts payable 1,374 1,481
Progress Energy | Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 56 68
Regulatory assets 98 94
Current Assets: Other 68 88
Other Noncurrent Assets: Regulatory assets 1,446 1,507
Current maturities of long-term debt 418 340
Long-Term Debt (includes amounts related to VIEs) 1,910 $ 2,003
Other (includes $54 at 2023 related to VIEs) 19  
Inventory (includes $462 at 2023 related to VIEs) 462  
Accounts payable $ 188  
v3.24.0.1
Condensed Consolidated Statements of Cash Flows - Progress Energy - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 2,874 $ 2,455 $ 3,579
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,084 5,843 5,663
Equity component of AFUDC (198) (197) (171)
Gains on sales of other assets (52) (22) (13)
Impairment of assets and other charges 85 434 353
Deferred income taxes 3 (200) 191
Contributions to qualified pension plans (100) (58)  
Payments for asset retirement obligations (632) (584) (540)
Provision for rate refunds (63) (130) (70)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions (18) 19 50
Receivables 443 (788) (297)
Inventory (706) (476) (34)
Other current assets (267) (1,498) (1,136)
Increase (decrease) in      
Accounts payable (800) 805 249
Taxes accrued 126 10 284
Other current liabilities (26) (153) (13)
Other assets 914 (1,577) 125
Other liabilities 584 410 95
Net cash provided by operating activities 9,878 5,927 8,290
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,604) (11,367) (9,715)
Purchases of debt and equity securities (3,761) (4,243) (6,098)
Proceeds from sales and maturities of debt and equity securities 3,824 4,333 6,103
Other (799) (727) (333)
Net cash used in investing activities (12,475) (11,973) (10,935)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 10,028 11,874 9,052
Payments for the redemption of long-term debt (4,737) (4,396) (5,294)
Other (124) (130) (94)
Net cash provided by financing activities 2,351 6,129 2,609
Net (decrease) increase in cash, cash equivalents and restricted cash (246) 83 (36)
Cash, cash equivalents and restricted cash at beginning of period 603 520 556
Cash, cash equivalents and restricted cash at end of period 357 603 520
Supplemental Disclosures:      
Cash paid for (received from) income taxes 1 (6) (3)
Cash paid for interest, net of amount capitalized 2,883 2,361 2,248
Significant non-cash transactions:      
Accrued capital expenditures 1,908 1,766 1,325
Progress Energy      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income 1,956 1,828 1,599
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 2,721 2,405 2,302
Equity component of AFUDC (67) (68) (51)
Gains on sales of other assets (27) (11) (14)
Impairment of assets and other charges 28 12 82
Deferred income taxes (120) 364 247
Contributions to qualified pension plans (22) (13)  
Payments for asset retirement obligations (329) (291) (288)
Provision for rate refunds (24) (58) (36)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions     51
Receivables 21 (322) (97)
Receivables from affiliated companies (68) 117 18
Inventory (322) (183) (26)
Other current assets 287 (937) (551)
Increase (decrease) in      
Accounts payable (266) 222 59
Accounts payable to affiliated companies (248) 206 217
Taxes accrued 124 8 13
Other current liabilities 9 96 (32)
Other assets 357 (1,105) (96)
Other liabilities 108 573 (99)
Net cash provided by operating activities 4,118 2,843 3,298
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (4,917) (4,317) (3,668)
Purchases of debt and equity securities (1,590) (1,341) (2,233)
Proceeds from sales and maturities of debt and equity securities 1,663 1,417 2,322
Other (329) (137) (156)
Net cash used in investing activities (5,173) (4,378) (3,735)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 2,555 2,775 3,095
Payments for the redemption of long-term debt (1,248) (1,173) (1,883)
Notes payable to affiliated companies 200 465 (160)
Dividends to parent (500) (425) (700)
Other (1) (36) (2)
Net cash provided by financing activities 1,006 1,606 350
Net (decrease) increase in cash, cash equivalents and restricted cash (49) 71 (87)
Cash, cash equivalents and restricted cash at beginning of period 184 113 200
Cash, cash equivalents and restricted cash at end of period 135 184 113
Supplemental Disclosures:      
Cash paid for (received from) income taxes 310 79 14
Cash paid for interest, net of amount capitalized 954 854 813
Significant non-cash transactions:      
Accrued capital expenditures $ 806 $ 663 $ 501
v3.24.0.1
Condensed Consolidated Statements of Changes in Equity - Progress Energy - USD ($)
$ in Millions
Total
Total Equity
Additional Paid-in Capital
Retained Earnings
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Pension and OPEB Adjustments
Noncontrolling Interests
Progress Energy
Progress Energy
Total Equity
Progress Energy
Additional Paid-in Capital
Progress Energy
Retained Earnings
Progress Energy
Net Gains (Losses) on Cash Flow Hedges
Progress Energy
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Progress Energy
Pension and OPEB Adjustments
Progress Energy
Noncontrolling Interests
Beginning Balance (Attributable to Parent) at Dec. 31, 2020   $ 47,964 $ 43,767 $ 2,471 $ 6 $ (76)     $ 16,237 $ 9,143 $ 7,109 $ (5) $ (2) $ (8)  
Beginning Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2020             $ 1,220               $ 4
Beginning Balance (Parent) at Dec. 31, 2020 $ 49,184             $ 16,241              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 3,579             1,599 1,598   1,598       1
Other comprehensive (loss) income (56) [1] (66)     (8) 7 10 4 4     3   1  
Distributions to noncontrolling interests (66)           (66) (1)             (1)
Common stock dividends (3,008) (3,008)   (3,008)       (700) (700)   (700)        
Other (8) (9) (9)       1 5 6 6         (1)
Ending Balance (Attributable to Parent) at Dec. 31, 2021   49,296 44,371 3,265 (2) (69)     17,145 9,149 8,007 (2) (2) (7)  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2021             1,840               3
Ending Balance (Parent) at Dec. 31, 2021 51,136             17,148              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 2,455             1,828 1,828   1,828        
Other comprehensive (loss) income 174 [1] 163     (21) (19) 11 0       1 (6) 5  
Distributions to noncontrolling interests (140)           (140) (34)             (34)
Common stock dividends (3,073) (3,073)   (3,073)       (425) (425) (175) (250)        
Equitization of certain notes payable to affiliates               2,907 2,907 2,907          
Purchase of a noncontrolling interest               (20) (51) (51)         31
Other 3 2 1 1     1 2 2 2          
Ending Balance (Attributable to Parent) at Dec. 31, 2022 49,322 49,322 44,862 2,637 (23) (88)     21,406 11,832 9,585 (1) (8) (2)  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2022 2,531           2,531               0
Ending Balance (Parent) at Dec. 31, 2022 51,853             21,406              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 2,874             1,956 1,956   1,956        
Other comprehensive (loss) income 134 [1] 134     8 (1)   1 1       3 (2)  
Distributions to noncontrolling interests (59)           (59)                
Common stock dividends (3,138) (3,138)   (3,138)       (500) (500)   (500)        
Other (2) (6) (7) 1     4 (3) (3) (2) (1)        
Ending Balance (Attributable to Parent) at Dec. 31, 2023 49,112 $ 49,112 $ 44,920 $ 2,235 $ (15) $ (89)     $ 22,860 $ 11,830 $ 11,040 $ (1) $ (5) $ (4)  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2023 1,075           $ 1,075               $ 0
Ending Balance (Parent) at Dec. 31, 2023 $ 50,187             $ 22,860              
[1] Net of income tax expense of approximately $40 million and $52 million for the years ended December 31, 2023, and 2022, respectively, and income tax benefit of $17 million for the year ended December 31, 2021.
v3.24.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Progress - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Revenues $ 29,060 $ 28,768 $ 24,621
Operating Expenses      
Operation, maintenance and other 5,625 5,734 5,703
Depreciation and amortization 5,253 5,086 4,762
Property and other taxes 1,400 1,466 1,355
Impairment of assets and other charges 85 434 353
Total operating expenses 22,042 22,778 19,133
Gains on Sales of Other Assets and Other, net 52 22 12
Operating Income 7,070 6,012 5,500
Other Income and Expenses, net 711 505 698
Interest Expense 3,014 2,439 2,207
Income From Continuing Operations Before Income Taxes 4,767 4,078 3,991
Income Tax Expense 438 300 268
Comprehensive Income Attributable to Duke Energy Corporation 2,975 2,713 3,842
Net Income Attributable to Duke Energy Corporation 2,841 2,550 3,908
Duke Energy Progress      
Operating Revenues 6,488 6,753 5,780
Operating Expenses      
Cost of sales 2,203 2,492 1,778
Operation, maintenance and other 1,379 1,475 1,467
Depreciation and amortization 1,266 1,187 1,097
Property and other taxes 164 190 159
Impairment of assets and other charges 29 7 63
Total operating expenses 5,041 5,351 4,564
Gains on Sales of Other Assets and Other, net 3 4 13
Operating Income 1,450 1,406 1,229
Other Income and Expenses, net 124 114 143
Interest Expense 427 354 306
Income From Continuing Operations Before Income Taxes 1,147 1,166 1,066
Income Tax Expense 149 158 75
Comprehensive Income Attributable to Duke Energy Corporation 998 1,008 991
Net Income Attributable to Duke Energy Corporation $ 998 $ 1,008 $ 991
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Progress - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 253 $ 409
Receivables of VIEs (net of allowance for doubtful accounts) 1,112 1,309
Receivables (net of allowance for doubtful accounts) 3,019 3,106
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Regulatory assets 3,648 3,485
Other (includes amounts related to VIEs) 431 973
Total current assets 12,769 13,222
Property, Plant and Equipment    
Cost 171,351 163,839
Accumulated depreciation and amortization (56,038) (52,100)
Facilities to be retired, net 2 9
Net property, plant and equipment 115,315 111,748
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Nuclear decommissioning trust funds 10,143 8,637
Operating lease right-of-use assets, net 1,092 1,042
Other (including amounts related to VIEs) 3,964 3,400
Total other noncurrent assets 48,809 53,116
Total Assets 176,893 178,086
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 4,228 4,754
Taxes accrued 816 722
Interest accrued 745 626
Current maturities of long-term debt 2,800 3,878
Asset retirement obligations 596 773
Regulatory liabilities 1,369 1,466
Other 2,319 2,167
Total current liabilities 17,283 18,873
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Other Noncurrent Liabilities    
Deferred income taxes 10,556 9,964
Total noncurrent asset retirement obligation 8,560 11,955
Total noncurrent regulatory liabilities 14,039 13,582
Operating lease liabilities 917 876
Accrued pension and other post-retirement benefit costs 485 832
Investment tax credits 864 849
Other noncurrent liabilities 1,393 1,502
Total other noncurrent liabilities 36,971 41,487
Commitments and Contingencies
Equity    
Total Liabilities and Equity 176,893 178,086
Consolidated VIEs    
Current Assets    
Inventory (includes $462 at 2023 related to VIEs) 462  
Regulatory assets 110 106
Other (includes amounts related to VIEs) 90 116
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Other (including amounts related to VIEs) 49 52
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 188  
Current maturities of long-term debt 428 350
Long-Term Debt (includes amounts related to VIEs) 3,000 3,108
Other Noncurrent Liabilities    
Other noncurrent liabilities 35  
Duke Energy Progress    
Current Assets    
Cash and cash equivalents 18 49
Receivables of VIEs (net of allowance for doubtful accounts) 139 167
Receivables (net of allowance for doubtful accounts) 833 793
Inventory (includes $462 at 2023 related to VIEs) 1,227 1,006
Regulatory assets 942 690
Other (includes amounts related to VIEs) 72 174
Total current assets 3,247 2,904
Property, Plant and Equipment    
Cost 39,283 38,875
Accumulated depreciation and amortization (15,227) (14,201)
Net property, plant and equipment 24,056 24,674
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 4,546 4,724
Nuclear decommissioning trust funds 4,075 3,430
Operating lease right-of-use assets, net 318 370
Other (including amounts related to VIEs) 682 650
Total other noncurrent assets 9,621 9,174
Total Assets 36,924 36,752
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 634 601
Taxes accrued 176 77
Interest accrued 114 101
Current maturities of long-term debt 72 369
Asset retirement obligations 244 288
Regulatory liabilities 300 332
Other 481 384
Total current liabilities 3,244 2,898
Long-Term Debt (includes amounts related to VIEs) 11,492 10,568
Other Noncurrent Liabilities    
Deferred income taxes 2,560 2,477
Total noncurrent asset retirement obligation 3,626 5,535
Total noncurrent regulatory liabilities 4,375 4,120
Operating lease liabilities 293 335
Accrued pension and other post-retirement benefit costs 146 160
Investment tax credits 129 124
Other noncurrent liabilities 102 76
Total other noncurrent liabilities 11,231 12,827
Commitments and Contingencies
Equity    
Total member's equity 10,807 10,309
Total Liabilities and Equity 36,924 36,752
Duke Energy Progress | Consolidated VIEs    
Current Assets    
Regulatory assets 39 39
Other (includes amounts related to VIEs) 31 42
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 643 681
Current Liabilities    
Current maturities of long-term debt 34 34
Long-Term Debt (includes amounts related to VIEs) 1,079 1,114
Other Noncurrent Liabilities    
Other noncurrent liabilities 12  
Duke Energy Progress | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 16 25
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 332 508
Notes payable to affiliated companies 891 238
Long-Term Debt (includes amounts related to VIEs) $ 150 $ 150
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Progress (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts - receivables $ 55 $ 40
Regulatory assets 3,648 3,485
Current Assets: Other 431 973
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Current maturities of long-term debt 2,800 3,878
Long-Term Debt 72,452 65,873
Other (includes $54 at 2023 related to VIEs) 1,393 1,502
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 150 176
Regulatory assets 110 106
Current Assets: Other 90 116
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Current maturities of long-term debt 428 350
Long-Term Debt 3,000 3,108
Other (includes $54 at 2023 related to VIEs) 35  
Duke Energy Progress    
Allowance for doubtful accounts - receivables 8 4
Regulatory assets 942 690
Current Assets: Other 72 174
Other Noncurrent Assets: Regulatory assets 4,546 4,724
Current maturities of long-term debt 72 369
Long-Term Debt 11,492 10,568
Other (includes $54 at 2023 related to VIEs) 102 76
Duke Energy Progress | Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 36 40
Regulatory assets 39 39
Current Assets: Other 31 42
Other Noncurrent Assets: Regulatory assets 643 681
Current maturities of long-term debt 34 34
Long-Term Debt 1,079 $ 1,114
Other (includes $54 at 2023 related to VIEs) $ 12  
v3.24.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Progress - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 2,841 $ 2,550 $ 3,908
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,084 5,843 5,663
Equity component of AFUDC (198) (197) (171)
Impairment of assets and other charges 85 434 353
Deferred income taxes 3 (200) 191
Contributions to qualified pension plans (100) (58)  
Payments for asset retirement obligations (632) (584) (540)
Provision for rate refunds (63) (130) (70)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions (18) 19 50
Receivables 443 (788) (297)
Inventory (706) (476) (34)
Other current assets (267) (1,498) (1,136)
Increase (decrease) in      
Accounts payable (800) 805 249
Taxes accrued 126 10 284
Other current liabilities (26) (153) (13)
Other assets 914 (1,577) 125
Other liabilities 584 410 95
Net cash provided by operating activities 9,878 5,927 8,290
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,604) (11,367) (9,715)
Purchases of debt and equity securities (3,761) (4,243) (6,098)
Proceeds from sales and maturities of debt and equity securities 3,824 4,333 6,103
Other (799) (727) (333)
Net cash used in investing activities (12,475) (11,973) (10,935)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 10,028 11,874 9,052
Payments for the redemption of long-term debt (4,737) (4,396) (5,294)
Other (124) (130) (94)
Net cash provided by financing activities 2,351 6,129 2,609
Net (decrease) increase in cash, cash equivalents and restricted cash (246) 83 (36)
Cash, cash equivalents and restricted cash at beginning of period 603 520 556
Cash, cash equivalents and restricted cash at end of period 357 603 520
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 2,883 2,361 2,248
Cash paid for (received from) income taxes 1 (6) (3)
Significant non-cash transactions:      
Accrued capital expenditures 1,908 1,766 1,325
Duke Energy Progress      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 998 1,008 991
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,460 1,371 1,286
Equity component of AFUDC (52) (52) (34)
Impairment of assets and other charges 29 7 63
Deferred income taxes (53) 121 (46)
Contributions to qualified pension plans (13) (8)  
Payments for asset retirement obligations (249) (193) (187)
Provision for rate refunds (24) (58) (36)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions   0 48
Receivables (10) (228) (52)
Receivables from affiliated companies 9 58 (33)
Inventory (221) (85) (11)
Other current assets (252) (207) (147)
Increase (decrease) in      
Accounts payable (26) 20 12
Accounts payable to affiliated companies (176) 198 95
Taxes accrued 99 (86) 83
Other current liabilities 13 13 (23)
Other assets 173 (416) (37)
Other liabilities 29 38 (16)
Net cash provided by operating activities 1,734 1,501 1,956
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (2,387) (2,070) (1,746)
Purchases of debt and equity securities (1,406) (1,148) (1,931)
Proceeds from sales and maturities of debt and equity securities 1,402 1,138 1,914
Other (144) (29) (20)
Net cash used in investing activities (2,535) (2,109) (1,783)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 991 1,477 1,959
Payments for the redemption of long-term debt (369) (645) (1,308)
Notes payable to affiliated companies 652 67 (123)
Distributions to parent (500) (250) (700)
Other (1) (1) (1)
Net cash provided by financing activities 773 648 (173)
Net (decrease) increase in cash, cash equivalents and restricted cash (28) 40 0
Cash, cash equivalents and restricted cash at beginning of period 79 39 39
Cash, cash equivalents and restricted cash at end of period 51 79 39
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 447 386 335
Cash paid for (received from) income taxes 73 157 83
Significant non-cash transactions:      
Accrued capital expenditures $ 313 $ 269 $ 163
v3.24.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Progress - USD ($)
$ in Millions
Total
Duke Energy Progress
Duke Energy Progress
Member's Equity
Beginning balance at Dec. 31, 2020     $ 9,260
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Net income (loss) $ 3,908 $ 991 991
Distribution to parent (3,008)   (700)
Other (8)    
Ending balance at Dec. 31, 2021     9,551
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Net income (loss) 2,550 1,008 1,008
Distribution to parent (3,073)   (250)
Other 3    
Ending balance at Dec. 31, 2022   10,309 10,309
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Net income (loss) 2,841 998 998
Distribution to parent (3,138)   (500)
Other $ (2)    
Ending balance at Dec. 31, 2023   $ 10,807 $ 10,807
v3.24.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Florida - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Revenues $ 29,060 $ 28,768 $ 24,621
Operating Expenses      
Operation, maintenance and other 5,625 5,734 5,703
Depreciation and amortization 5,253 5,086 4,762
Property and other taxes 1,400 1,466 1,355
Impairment of assets and other charges 85 434 353
Total operating expenses 22,042 22,778 19,133
Gains on Sales of Other Assets and Other, net 52 22 12
Operating Income 7,070 6,012 5,500
Other Income and Expenses, net 711 505 698
Interest Expense 3,014 2,439 2,207
Income From Continuing Operations Before Income Taxes 4,767 4,078 3,991
Income Tax Expense 438 300 268
Net Income Attributable to Duke Energy Corporation 2,841 2,550 3,908
Unrealized gains (losses) on available-for-sale securities [1] 8 (21) (8)
Other Comprehensive Income (Loss), net of tax [1] 134 174 (56)
Comprehensive Income Attributable to Duke Energy Corporation 2,975 2,713 3,842
Duke Energy Florida      
Operating Revenues 7,036 6,353 5,259
Operating Expenses      
Cost of sales 2,823 2,586 1,806
Operation, maintenance and other 1,239 967 1,048
Depreciation and amortization 885 955 831
Property and other taxes 480 421 383
Impairment of assets and other charges (1) 4 19
Total operating expenses 5,426 4,933 4,087
Gains on Sales of Other Assets and Other, net 2 2 1
Operating Income 1,612 1,422 1,173
Other Income and Expenses, net 78 74 71
Interest Expense 413 362 319
Income From Continuing Operations Before Income Taxes 1,277 1,134 925
Income Tax Expense 261 225 187
Net Income Attributable to Duke Energy Corporation 1,016 909 738
Unrealized gains (losses) on available-for-sale securities 3 (5) (1)
Other Comprehensive Income (Loss), net of tax 3 (5) (1)
Comprehensive Income Attributable to Duke Energy Corporation $ 1,019 $ 904 $ 737
[1] Net of income tax expense of approximately $40 million and $52 million for the years ended December 31, 2023, and 2022, respectively, and income tax benefit of $17 million for the year ended December 31, 2021.
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Florida - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 253 $ 409
Receivables of VIEs (net of allowance for doubtful accounts) 1,112 1,309
Receivables (net of allowance for doubtful accounts) 3,019 3,106
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Regulatory assets 3,648 3,485
Other (includes amounts related to VIEs) 431 973
Total current assets 12,769 13,222
Property, Plant and Equipment    
Cost 171,351 163,839
Accumulated depreciation and amortization (56,038) (52,100)
Net property, plant and equipment 115,315 111,748
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Nuclear decommissioning trust funds 10,143 8,637
Operating lease right-of-use assets, net 1,092 1,042
Other (including amounts related to VIEs) 3,964 3,400
Total other noncurrent assets 48,809 53,116
Total Assets 176,893 178,086
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 4,228 4,754
Taxes accrued 816 722
Interest accrued 745 626
Current maturities of long-term debt 2,800 3,878
Asset retirement obligations 596 773
Regulatory liabilities 1,369 1,466
Other 2,319 2,167
Total current liabilities 17,283 18,873
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Other Noncurrent Liabilities    
Deferred income taxes 10,556 9,964
Total noncurrent asset retirement obligation 8,560 11,955
Total noncurrent regulatory liabilities 14,039 13,582
Operating lease liabilities 917 876
Accrued pension and other post-retirement benefit costs 485 832
Investment tax credits 864 849
Other noncurrent liabilities 1,393 1,502
Total other noncurrent liabilities 36,971 41,487
Commitments and Contingencies
Equity    
Accumulated other comprehensive loss (6) (140)
Total Liabilities and Equity 176,893 178,086
Consolidated VIEs    
Current Assets    
Inventory (includes $462 at 2023 related to VIEs) 462  
Regulatory assets 110 106
Other (includes amounts related to VIEs) 90 116
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Other (including amounts related to VIEs) 49 52
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 188  
Current maturities of long-term debt 428 350
Long-Term Debt (includes amounts related to VIEs) 3,000 3,108
Other Noncurrent Liabilities    
Other noncurrent liabilities 35  
Duke Energy Florida    
Current Assets    
Cash and cash equivalents 24 45
Receivables of VIEs (net of allowance for doubtful accounts) 83 148
Receivables (net of allowance for doubtful accounts) 532 496
Inventory (includes $462 at 2023 related to VIEs) 674 573
Regulatory assets 720 1,143
Other (includes amounts related to VIEs) 51 108
Total current assets 2,322 2,515
Property, Plant and Equipment    
Cost 28,353 25,940
Accumulated depreciation and amortization (7,067) (6,377)
Net property, plant and equipment 21,286 19,563
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,883 2,422
Nuclear decommissioning trust funds 382 424
Operating lease right-of-use assets, net 299 258
Other (including amounts related to VIEs) 429 372
Total other noncurrent assets 2,993 3,476
Total Assets 26,601 25,554
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 738 880
Taxes accrued 185 53
Interest accrued 86 80
Current maturities of long-term debt 589 328
Asset retirement obligations 1 1
Regulatory liabilities 118 244
Other 350 363
Total current liabilities 2,354 2,731
Long-Term Debt (includes amounts related to VIEs) 9,812 9,381
Other Noncurrent Liabilities    
Deferred income taxes 2,733 2,789
Total noncurrent asset retirement obligation 274 357
Total noncurrent regulatory liabilities 708 633
Operating lease liabilities 251 211
Accrued pension and other post-retirement benefit costs 98 111
Investment tax credits 242 234
Other noncurrent liabilities 86 84
Total other noncurrent liabilities 4,392 4,419
Commitments and Contingencies
Equity    
Member's equity 10,048 9,031
Accumulated other comprehensive loss (5) (8)
Total member's equity 10,043 9,023
Total Liabilities and Equity 26,601 25,554
Duke Energy Florida | Consolidated VIEs    
Current Assets    
Inventory (includes $462 at 2023 related to VIEs) 462  
Regulatory assets 59 55
Other (includes amounts related to VIEs) 37 46
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 803 826
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 188  
Current maturities of long-term debt 384 306
Long-Term Debt (includes amounts related to VIEs) 831 890
Other Noncurrent Liabilities    
Other noncurrent liabilities 6  
Duke Energy Florida | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 238 2
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 135 177
Notes payable to affiliated companies $ 152 $ 605
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Florida (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts - receivables $ 55 $ 40
Current Assets: Other 431 973
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Current maturities of long-term debt 2,800 3,878
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Regulatory assets 3,648 3,485
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Accounts payable 4,228 4,754
Other (includes $54 at 2023 related to VIEs) 1,393 1,502
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 150 176
Current Assets: Other 90 116
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Current maturities of long-term debt 428 350
Long-Term Debt (includes amounts related to VIEs) 3,000 3,108
Regulatory assets 110 106
Inventory (includes $462 at 2023 related to VIEs) 462  
Accounts payable 188  
Other (includes $54 at 2023 related to VIEs) 35  
Duke Energy Florida    
Allowance for doubtful accounts - receivables 11 8
Current Assets: Other 51 108
Other Noncurrent Assets: Regulatory assets 1,883 2,422
Current maturities of long-term debt 589 328
Long-Term Debt (includes amounts related to VIEs) 9,812 9,381
Regulatory assets 720 1,143
Inventory (includes $462 at 2023 related to VIEs) 674 573
Accounts payable 738 880
Other (includes $54 at 2023 related to VIEs) 86 84
Duke Energy Florida | Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 20 28
Current Assets: Other 37 46
Other Noncurrent Assets: Regulatory assets 803 826
Current maturities of long-term debt 384 306
Long-Term Debt (includes amounts related to VIEs) 831 890
Regulatory assets 59 $ 55
Inventory (includes $462 at 2023 related to VIEs) 462  
Accounts payable 188  
Other (includes $54 at 2023 related to VIEs) $ 6  
v3.24.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Florida - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 2,841 $ 2,550 $ 3,908
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,084 5,843 5,663
Equity component of AFUDC (198) (197) (171)
Impairment of assets and other charges 85 434 353
Deferred income taxes 3 (200) 191
Contributions to qualified pension plans (100) (58)  
Payments for asset retirement obligations (632) (584) (540)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions (18) 19 50
Receivables 443 (788) (297)
Inventory (706) (476) (34)
Other current assets (267) (1,498) (1,136)
Increase (decrease) in      
Accounts payable (800) 805 249
Taxes accrued 126 10 284
Other current liabilities (26) (153) (13)
Other assets 914 (1,577) 125
Other liabilities 584 410 95
Net cash provided by operating activities 9,878 5,927 8,290
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,604) (11,367) (9,715)
Purchases of debt and equity securities (3,761) (4,243) (6,098)
Proceeds from sales and maturities of debt and equity securities 3,824 4,333 6,103
Other (799) (727) (333)
Net cash used in investing activities (12,475) (11,973) (10,935)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 10,028 11,874 9,052
Payments for the redemption of long-term debt (4,737) (4,396) (5,294)
Other (124) (130) (94)
Net cash provided by financing activities 2,351 6,129 2,609
Net (decrease) increase in cash, cash equivalents and restricted cash (246) 83 (36)
Cash, cash equivalents and restricted cash at beginning of period 603 520 556
Cash, cash equivalents and restricted cash at end of period 357 603 520
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 2,883 2,361 2,248
Cash paid for (received from) income taxes 1 (6) (3)
Significant non-cash transactions:      
Accrued capital expenditures 1,908 1,766 1,325
Duke Energy Florida      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 1,016 909 738
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,260 1,032 1,011
Equity component of AFUDC (15) (16) (16)
Impairment of assets and other charges (1) 4 19
Deferred income taxes (89) 285 279
Contributions to qualified pension plans (9) (5)  
Payments for asset retirement obligations (80) (98) (101)
(Increase) decrease in      
Receivables 30 (93) (45)
Receivables from affiliated companies (236) 14 (13)
Inventory (101) (98) (15)
Other current assets 496 (640) (451)
Increase (decrease) in      
Accounts payable (241) 202 47
Accounts payable to affiliated companies (42) (32) 124
Taxes accrued 132 2 (30)
Other current liabilities 3 62 (7)
Other assets 163 (704) (69)
Other liabilities 101 18 (69)
Net cash provided by operating activities 2,387 842 1,402
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (2,529) (2,247) (1,923)
Purchases of debt and equity securities (184) (193) (302)
Proceeds from sales and maturities of debt and equity securities 261 279 408
Other (185) (108) (136)
Net cash used in investing activities (2,637) (2,269) (1,953)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 1,564 1,298 1,135
Payments for the redemption of long-term debt (879) (77) (575)
Notes payable to affiliated companies (453) 406 3
Distributions to parent   (175)  
Other (1) (1)  
Net cash provided by financing activities 231 1,451 563
Net (decrease) increase in cash, cash equivalents and restricted cash (19) 24 12
Cash, cash equivalents and restricted cash at beginning of period 86 62 50
Cash, cash equivalents and restricted cash at end of period 67 86 62
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 394 339 308
Cash paid for (received from) income taxes 219 (83) (15)
Significant non-cash transactions:      
Accrued capital expenditures $ 493 $ 394 $ 337
v3.24.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Florida - USD ($)
$ in Millions
Total
Duke Energy Florida
Duke Energy Florida
Member's Equity
Duke Energy Florida
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Beginning balance at Dec. 31, 2020   $ 7,558 $ 7,560 $ (2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ 3,908 738 738  
Other comprehensive income (loss) (8) [1] (1)   (1)
Distribution to parent (3,008)      
Other (8)      
Ending balance at Dec. 31, 2021   8,295 8,298 (3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 2,550 909 909  
Other comprehensive income (loss) (21) [1] (5)   (5)
Distribution to parent (3,073) (175) (175)  
Other 3 (1) (1) 0
Ending balance at Dec. 31, 2022   9,023 9,031 (8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 2,841 1,016 1,016  
Other comprehensive income (loss) 8 [1] 3   3
Distribution to parent (3,138)      
Other $ (2) 1 1  
Ending balance at Dec. 31, 2023   $ 10,043 $ 10,048 $ (5)
[1] Net of income tax expense of approximately $40 million and $52 million for the years ended December 31, 2023, and 2022, respectively, and income tax benefit of $17 million for the year ended December 31, 2021.
v3.24.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Ohio - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Regulated electric $ 26,617 $ 25,759 $ 22,319
Regulated natural gas 2,152 2,724 2,008
Total operating revenues 29,060 28,768 24,621
Operating Expenses      
Operation, maintenance and other 5,625 5,734 5,703
Depreciation and amortization 5,253 5,086 4,762
Property and other taxes 1,400 1,466 1,355
Impairment of assets and other charges 85 434 353
Total operating expenses 22,042 22,778 19,133
Gains on Sales of Other Assets and Other, net 52 22 12
Operating Income 7,070 6,012 5,500
Other Income and Expenses, net 711 505 698
Interest Expense 3,014 2,439 2,207
Income From Continuing Operations Before Income Taxes 4,767 4,078 3,991
Income Tax Expense From Continuing Operations 438 300 268
Comprehensive Income Attributable to Duke Energy Corporation 2,975 2,713 3,842
Net Income Attributable to Duke Energy Corporation 2,841 2,550 3,908
Fuel used in electric generation and purchased power      
Operating Expenses      
Cost of sales 9,086 8,782 6,255
Cost of natural gas      
Operating Expenses      
Cost of sales 593 1,276 705
Duke Energy Ohio      
Regulated electric 1,868 1,798 1,493
Regulated natural gas 639 716 544
Total operating revenues 2,507 2,514 2,037
Operating Expenses      
Operation, maintenance and other 478 523 479
Depreciation and amortization 367 324 307
Property and other taxes 364 369 355
Impairment of assets and other charges 3 (10) 25
Total operating expenses 1,983 2,124 1,711
Gains on Sales of Other Assets and Other, net 1 1 1
Operating Income 525 391 327
Other Income and Expenses, net 41 19 18
Interest Expense 169 129 111
Income From Continuing Operations Before Income Taxes 397 281 234
Income Tax Expense From Continuing Operations 63 (21) 30
Comprehensive Income Attributable to Duke Energy Corporation 334 302 204
Net Income Attributable to Duke Energy Corporation 334 302 204
Duke Energy Ohio | Fuel used in electric generation and purchased power      
Operating Expenses      
Cost of sales 608 657 409
Duke Energy Ohio | Cost of natural gas      
Operating Expenses      
Cost of sales $ 163 $ 261 $ 136
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Ohio - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 253 $ 409
Receivables of VIEs (net of allowance for doubtful accounts) 1,112 1,309
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Regulatory assets 3,648 3,485
Other (includes amounts related to VIEs) 431 973
Total current assets 12,769 13,222
Property, Plant and Equipment    
Cost 171,351 163,839
Accumulated depreciation and amortization (56,038) (52,100)
Facilities to be retired, net 2 9
Net property, plant and equipment 115,315 111,748
Other Noncurrent Assets    
Goodwill 19,303 19,303
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Operating lease right-of-use assets, net 1,092 1,042
Other (including amounts related to VIEs) 3,964 3,400
Total other noncurrent assets 48,809 53,116
Total Assets 176,893 178,086
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 4,228 4,754
Taxes accrued 816 722
Interest accrued 745 626
Current maturities of long-term debt 2,800 3,878
Asset retirement obligations 596 773
Regulatory liabilities 1,369 1,466
Other 2,319 2,167
Total current liabilities 17,283 18,873
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Other Noncurrent Liabilities    
Deferred income taxes 10,556 9,964
Total noncurrent asset retirement obligation 8,560 11,955
Total noncurrent regulatory liabilities 14,039 13,582
Operating lease liabilities 917 876
Accrued pension and other post-retirement benefit costs 485 832
Other noncurrent liabilities 1,393 1,502
Total other noncurrent liabilities 36,971 41,487
Commitments and Contingencies
Equity    
Common stock 1 1
Additional paid-in capital 44,920 44,862
Retained earnings 2,235 2,637
Total equity 50,187 51,853
Total Liabilities and Equity 176,893 178,086
Duke Energy Ohio    
Current Assets    
Cash and cash equivalents 24 16
Receivables of VIEs (net of allowance for doubtful accounts) 112 73
Inventory (includes $462 at 2023 related to VIEs) 179 144
Regulatory assets 73 103
Other (includes amounts related to VIEs) 134 86
Total current assets 761 669
Property, Plant and Equipment    
Cost 13,210 12,497
Accumulated depreciation and amortization (3,451) (3,250)
Net property, plant and equipment 9,759 9,247
Other Noncurrent Assets    
Goodwill 920 920
Other Noncurrent Assets: Regulatory assets 676 581
Operating lease right-of-use assets, net 16 18
Other (including amounts related to VIEs) 84 71
Total other noncurrent assets 1,696 1,590
Total Assets 12,216 11,506
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 338 380
Taxes accrued 316 317
Interest accrued 35 29
Current maturities of long-term debt   475
Asset retirement obligations 6 17
Regulatory liabilities 56 99
Other 65 74
Total current liabilities 1,500 1,960
Long-Term Debt (includes amounts related to VIEs) 3,493 2,745
Other Noncurrent Liabilities    
Deferred income taxes 1,272 1,136
Total noncurrent asset retirement obligation 130 137
Total noncurrent regulatory liabilities 497 534
Operating lease liabilities 16 17
Accrued pension and other post-retirement benefit costs 97 90
Other noncurrent liabilities 86 96
Total other noncurrent liabilities 2,098 2,010
Commitments and Contingencies
Equity    
Common stock 762 762
Additional paid-in capital 3,100 3,100
Retained earnings 1,238 904
Total equity 5,100 4,766
Total Liabilities and Equity 12,216 11,506
Duke Energy Ohio | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 239 247
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 71 72
Notes payable to affiliated companies 613 497
Long-Term Debt (includes amounts related to VIEs) $ 25 $ 25
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Ohio (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts - receivables $ 55 $ 40
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares outstanding (in shares) 771,000,000 770,000,000
Duke Energy Ohio    
Allowance for doubtful accounts - receivables $ 9 $ 6
Common stock, par value (in usd per share) $ 8.50 $ 8.50
Common stock, shares authorized (in shares) 120,000,000 120,000,000
Common stock, shares outstanding (in shares) 90,000,000 90,000,000
v3.24.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Ohio - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 2,841 $ 2,550 $ 3,908
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,084 5,843 5,663
Equity component of AFUDC (198) (197) (171)
Impairment of assets and other charges 85 434 353
Deferred income taxes 3 (200) 191
Contributions to qualified pension plans (100) (58)  
Payments for asset retirement obligations (632) (584) (540)
Provision for rate refunds (63) (130) (70)
(Increase) decrease in      
Receivables 443 (788) (297)
Inventory (706) (476) (34)
Other current assets (267) (1,498) (1,136)
Increase (decrease) in      
Accounts payable (800) 805 249
Taxes accrued 126 10 284
Other current liabilities (26) (153) (13)
Other assets 914 (1,577) 125
Other liabilities 584 410 95
Net cash provided by operating activities 9,878 5,927 8,290
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,604) (11,367) (9,715)
Other (799) (727) (333)
Net cash used in investing activities (12,475) (11,973) (10,935)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 10,028 11,874 9,052
Payments for the redemption of long-term debt (4,737) (4,396) (5,294)
Other (124) (130) (94)
Net cash provided by financing activities 2,351 6,129 2,609
Net (decrease) increase in cash, cash equivalents and restricted cash (246) 83 (36)
Cash, cash equivalents and restricted cash at beginning of period 603 520 556
Cash, cash equivalents and restricted cash at end of period 357 603 520
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 2,883 2,361 2,248
Cash paid for (received from) income taxes 1 (6) (3)
Significant non-cash transactions:      
Accrued capital expenditures 1,908 1,766 1,325
Duke Energy Ohio      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 334 302 204
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 371 328 311
Equity component of AFUDC (9) (7) (7)
Impairment of assets and other charges 3 (10) 25
Deferred income taxes 113 (22) 42
Contributions to qualified pension plans (5) (3)  
Payments for asset retirement obligations (13) (12) (2)
Provision for rate refunds 0 5 16
(Increase) decrease in      
Receivables (38) 23 6
Receivables from affiliated companies (40) (5) (25)
Inventory (35) (28) (6)
Other current assets (23) (55) (60)
Increase (decrease) in      
Accounts payable (34) 44 38
Accounts payable to affiliated companies (1) 8 (4)
Taxes accrued (1) 42 26
Other current liabilities (54) (63) 11
Other assets (24) (29) (43)
Other liabilities (38) 64 27
Net cash provided by operating activities 506 582 559
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (939) (850) (848)
Proceeds from the sales of other assets 75    
Notes receivable from affiliated companies (48) 105 10
Other (67) (67) (60)
Net cash used in investing activities (883) (1,022) (918)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 774 50 150
Payments for the redemption of long-term debt (500)   (50)
Notes payable to affiliated companies 116 395 (67)
Contribution from parent     325
Other (5) (2)  
Net cash provided by financing activities 385 443 358
Net (decrease) increase in cash, cash equivalents and restricted cash 8 3 (1)
Cash, cash equivalents and restricted cash at beginning of period 16 13 14
Cash, cash equivalents and restricted cash at end of period 24 16 13
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 158 126 107
Cash paid for (received from) income taxes 58 (35) 9
Significant non-cash transactions:      
Accrued capital expenditures $ 115 $ 123 $ 135
v3.24.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Ohio - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Duke Energy Ohio
Duke Energy Ohio
Common Stock
Duke Energy Ohio
Additional Paid-in Capital
Duke Energy Ohio
Retained Earnings
Beginning Balance (Attributable to Parent) at Dec. 31, 2020   $ 1 $ 43,767 $ 2,471 $ 3,935 $ 762 $ 2,776 $ 397
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) $ 3,908       204     204
Contribution from parent         325   325  
Other (8)   (9)       (1) 1
Ending Balance (Attributable to Parent) at Dec. 31, 2021   1 44,371 3,265 4,464 762 3,100 602
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 2,550       302     302
Other 3   1 1        
Ending Balance (Attributable to Parent) at Dec. 31, 2022 49,322 1 44,862 2,637 4,766 762 3,100 904
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 2,841       334     334
Other (2)   (7) 1        
Ending Balance (Attributable to Parent) at Dec. 31, 2023 $ 49,112 $ 1 $ 44,920 $ 2,235 $ 5,100 $ 762 $ 3,100 $ 1,238
v3.24.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Indiana - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Revenues $ 29,060 $ 28,768 $ 24,621
Operating Expenses      
Operation, maintenance and other 5,625 5,734 5,703
Depreciation and amortization 5,253 5,086 4,762
Property and other taxes 1,400 1,466 1,355
Impairment of assets and other charges 85 434 353
Total operating expenses 22,042 22,778 19,133
Operating Income 7,070 6,012 5,500
Other Income and Expenses, net 711 505 698
Interest Expense 3,014 2,439 2,207
Income From Continuing Operations Before Income Taxes 4,767 4,078 3,991
Income Tax Expense From Continuing Operations 438 300 268
Comprehensive Income Attributable to Duke Energy Corporation 2,975 2,713 3,842
Net Income Attributable to Duke Energy Corporation 2,841 2,550 3,908
Duke Energy Indiana      
Operating Revenues 3,399 3,922 3,174
Operating Expenses      
Cost of sales 1,217 1,819 985
Operation, maintenance and other 713 729 750
Depreciation and amortization 666 645 615
Property and other taxes 59 75 73
Impairment of assets and other charges   388 9
Total operating expenses 2,655 3,656 2,432
Operating Income 744 266 742
Other Income and Expenses, net 76 36 42
Interest Expense 213 189 196
Income From Continuing Operations Before Income Taxes 607 113 588
Income Tax Expense From Continuing Operations 110 (24) 107
Comprehensive Income Attributable to Duke Energy Corporation 497 137 481
Net Income Attributable to Duke Energy Corporation $ 497 $ 137 $ 481
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Indiana - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 253 $ 409
Receivables of VIEs (net of allowance for doubtful accounts) 1,112 1,309
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Regulatory assets 3,648 3,485
Total current assets 12,769 13,222
Property, Plant and Equipment    
Cost 171,351 163,839
Accumulated depreciation and amortization (56,038) (52,100)
Net property, plant and equipment 115,315 111,748
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Operating lease right-of-use assets, net 1,092 1,042
Other (including amounts related to VIEs) 3,964 3,400
Total other noncurrent assets 48,809 53,116
Total Assets 176,893 178,086
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 4,228 4,754
Taxes accrued 816 722
Interest accrued 745 626
Current maturities of long-term debt 2,800 3,878
Asset retirement obligations 596 773
Regulatory liabilities 1,369 1,466
Other 2,319 2,167
Total current liabilities 17,283 18,873
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Other Noncurrent Liabilities    
Deferred income taxes 10,556 9,964
Total noncurrent asset retirement obligation 8,560 11,955
Total noncurrent regulatory liabilities 14,039 13,582
Operating lease liabilities 917 876
Accrued pension and other post-retirement benefit costs 485 832
Investment tax credits 864 849
Other noncurrent liabilities 1,393 1,502
Total other noncurrent liabilities 36,971 41,487
Commitments and Contingencies
Equity    
Accumulated other comprehensive loss (6) (140)
Total Liabilities and Equity 176,893 178,086
Duke Energy Indiana    
Current Assets    
Cash and cash equivalents 8 31
Receivables of VIEs (net of allowance for doubtful accounts) 156 112
Inventory (includes $462 at 2023 related to VIEs) 582 489
Regulatory assets 102 249
Other 98 197
Total current assets 1,143 1,376
Property, Plant and Equipment    
Cost 18,900 18,121
Accumulated depreciation and amortization (6,501) (6,021)
Net property, plant and equipment 12,399 12,100
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 894 875
Operating lease right-of-use assets, net 50 49
Other (including amounts related to VIEs) 325 254
Total other noncurrent assets 1,269 1,178
Total Assets 14,811 14,654
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 300 391
Taxes accrued 66 92
Interest accrued 54 48
Current maturities of long-term debt 4 303
Asset retirement obligations 120 207
Regulatory liabilities 209 187
Other 184 161
Total current liabilities 1,369 2,030
Long-Term Debt (includes amounts related to VIEs) 4,348 3,854
Other Noncurrent Liabilities    
Deferred income taxes 1,436 1,299
Total noncurrent asset retirement obligation 689 744
Total noncurrent regulatory liabilities 1,459 1,454
Operating lease liabilities 46 47
Accrued pension and other post-retirement benefit costs 115 122
Investment tax credits 186 186
Other noncurrent liabilities   65
Total other noncurrent liabilities 3,931 3,917
Commitments and Contingencies
Equity    
Member's equity 5,012 4,702
Accumulated other comprehensive loss 1 1
Total member's equity 5,013 4,703
Total Liabilities and Equity 14,811 14,654
Duke Energy Indiana | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 197 298
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 176 206
Notes payable to affiliated companies 256 435
Long-Term Debt (includes amounts related to VIEs) $ 150 $ 150
v3.24.0.1
Condensed Consolidated Balance Sheets - Duke Energy Indiana (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts - receivables $ 55 $ 40
Duke Energy Indiana    
Allowance for doubtful accounts - receivables $ 5 $ 4
v3.24.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Indiana - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 2,841 $ 2,550 $ 3,908
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,084 5,843 5,663
Equity component of AFUDC (198) (197) (171)
Impairment of assets and other charges 85 434 353
Deferred income taxes 3 (200) 191
Contributions to qualified pension plans (100) (58)  
Payments for asset retirement obligations 632 584 540
(Increase) decrease in      
Receivables 443 (788) (297)
Inventory (706) (476) (34)
Other current assets (267) (1,498) (1,136)
Increase (decrease) in      
Accounts payable (800) 805 249
Taxes accrued 126 10 284
Other current liabilities (26) (153) (13)
Other assets 914 (1,577) 125
Other liabilities 584 410 95
Net cash provided by operating activities 9,878 5,927 8,290
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,604) (11,367) (9,715)
Purchases of debt and equity securities (3,761) (4,243) (6,098)
Proceeds from sales and maturities of debt and equity securities 3,824 4,333 6,103
Other (799) (727) (333)
Net cash used in investing activities (12,475) (11,973) (10,935)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 10,028 11,874 9,052
Payments for the redemption of long-term debt (4,737) (4,396) (5,294)
Other (124) (130) (94)
Net cash provided by financing activities 2,351 6,129 2,609
Net (decrease) increase in cash, cash equivalents and restricted cash (246) 83 (36)
Cash, cash equivalents and restricted cash at beginning of period 603 520 556
Cash, cash equivalents and restricted cash at end of period 357 603 520
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 2,883 2,361 2,248
Cash paid for (received from) income taxes 1 (6) (3)
Significant non-cash transactions:      
Accrued capital expenditures 1,908 1,766 1,325
Duke Energy Indiana      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 497 137 481
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 669 648 619
Equity component of AFUDC (10) (13) (27)
Impairment of assets and other charges   388 9
Deferred income taxes 91 (64) 34
Contributions to qualified pension plans (8) (5)  
Payments for asset retirement obligations 81 82 67
(Increase) decrease in      
Receivables (40) (3) (33)
Receivables from affiliated companies (8) 20  
Inventory (93) (70) 55
Other current assets 138 (3) (181)
Increase (decrease) in      
Accounts payable (83) 105 76
Accounts payable to affiliated companies 42 (3) 8
Taxes accrued (26) 34 12
Other current liabilities 128 9 13
Other assets (69) (10) 20
Other liabilities 7 13 (15)
Net cash provided by operating activities 1,154 1,101 1,004
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (961) (877) (818)
Purchases of debt and equity securities (68) (61) (142)
Proceeds from sales and maturities of debt and equity securities 55 48 65
Notes receivable from affiliated companies 109 (86) (120)
Other (66) (55) 36
Net cash used in investing activities (931) (1,031) (979)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 495 67 300
Payments for the redemption of long-term debt (303) (84) (70)
Notes payable to affiliated companies (178) 435 (131)
Distributions to parent (259) (462) (125)
Other (1) (1)  
Net cash provided by financing activities (246) (45) (26)
Net (decrease) increase in cash, cash equivalents and restricted cash (23) 25 (1)
Cash, cash equivalents and restricted cash at beginning of period 31 6 7
Cash, cash equivalents and restricted cash at end of period 8 31 6
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 202 186 194
Cash paid for (received from) income taxes 90 35 56
Significant non-cash transactions:      
Accrued capital expenditures $ 114 $ 122 $ 118
v3.24.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Indiana - USD ($)
$ in Millions
Total
Duke Energy Indiana
Duke Energy Indiana
Member's Equity
Duke Energy Indiana
Pension and OPEB Adjustments
Beginning balance at Dec. 31, 2020   $ 4,783 $ 4,783  
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ 3,908 481 481  
Distribution to parent (3,008) (250) (250)  
Other (8) 1 1  
Ending balance at Dec. 31, 2021   5,015 5,015  
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 2,550 137 137  
Distribution to parent (3,073) (450) (450)  
Other 3 1   $ 1
Ending balance at Dec. 31, 2022   4,703 4,702 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 2,841 497 497  
Distribution to parent (3,138) (187) (187)  
Other $ (2)      
Ending balance at Dec. 31, 2023   $ 5,013 $ 5,012 $ 1
v3.24.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Piedmont - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Regulated natural gas $ 2,152 $ 2,724 $ 2,008
Nonregulated electric and other 291 285 294
Total operating revenues 29,060 28,768 24,621
Operating Expenses      
Operation, maintenance and other 5,625 5,734 5,703
Depreciation and amortization 5,253 5,086 4,762
Property and other taxes 1,400 1,466 1,355
Impairment of assets and other charges 85 434 353
Total operating expenses 22,042 22,778 19,133
Gains on Sales of Other Assets and Other, net 52 22 12
Operating Income 7,070 6,012 5,500
Equity in earnings of unconsolidated affiliates 113 113 62
Other income and expenses, net 598 392 636
Total other income and expenses 711 505 698
Interest Expense 3,014 2,439 2,207
Income From Continuing Operations Before Income Taxes 4,767 4,078 3,991
Income Tax Expense From Continuing Operations 438 300 268
Net Income Attributable to Duke Energy Corporation 2,841 2,550 3,908
Comprehensive Income Attributable to Duke Energy Corporation 2,975 2,713 3,842
Piedmont      
Regulated natural gas 1,603 2,100 1,555
Nonregulated electric and other 25 24 14
Total operating revenues 1,628 2,124 1,569
Operating Expenses      
Cost of natural gas 430 1,015 569
Operation, maintenance and other 344 368 327
Depreciation and amortization 237 222 213
Property and other taxes 59 57 55
Impairment of assets and other charges (4) 18 10
Total operating expenses 1,066 1,680 1,174
Gains on Sales of Other Assets and Other, net 0 4 0
Operating Income 562 448 395
Equity in earnings of unconsolidated affiliates 9 8 9
Other income and expenses, net 57 46 55
Total other income and expenses 66 54 64
Interest Expense 165 140 119
Income From Continuing Operations Before Income Taxes 463 362 340
Income Tax Expense From Continuing Operations 84 39 30
Net Income Attributable to Duke Energy Corporation 379 323 310
Comprehensive Income Attributable to Duke Energy Corporation $ 379 $ 323 $ 310
v3.24.0.1
Condensed Consolidated Balance Sheets - Piedmont - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) $ 1,112 $ 1,309
Inventory (includes $462 at 2023 related to VIEs) 4,292 3,584
Regulatory assets 3,648 3,485
Other (includes amounts related to VIEs) 431 973
Total current assets 12,769 13,222
Property, Plant and Equipment    
Cost 171,351 163,839
Accumulated depreciation and amortization (56,038) (52,100)
Facilities to be retired, net 2 9
Net property, plant and equipment 115,315 111,748
Other Noncurrent Assets    
Goodwill 19,303 19,303
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Operating lease right-of-use assets, net 1,092 1,042
Investments in equity method unconsolidated affiliates 492 455
Other (including amounts related to VIEs) 3,964 3,400
Total other noncurrent assets 48,809 53,116
Total Assets 176,893 178,086
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 4,228 4,754
Taxes accrued 816 722
Interest accrued 745 626
Current maturities of long-term debt 2,800 3,878
Regulatory liabilities 1,369 1,466
Other 2,319 2,167
Total current liabilities 17,283 18,873
Long-Term Debt (includes amounts related to VIEs) 72,452 65,873
Other Noncurrent Liabilities    
Deferred income taxes 10,556 9,964
Total noncurrent asset retirement obligation 8,560 11,955
Total noncurrent regulatory liabilities 14,039 13,582
Operating lease liabilities 917 876
Accrued pension and other post-retirement benefit costs 485 832
Other noncurrent liabilities 1,393 1,502
Total other noncurrent liabilities 36,971 41,487
Commitments and Contingencies
Equity    
Common stock 1 1
Retained earnings 2,235 2,637
Total Duke Energy Corporation stockholders' equity 49,112 49,322
Noncontrolling interests 1,075 2,531
Total equity 50,187 51,853
Total Liabilities and Equity 176,893 178,086
Piedmont    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 311 436
Inventory (includes $462 at 2023 related to VIEs) 112 172
Regulatory assets 161 119
Other (includes amounts related to VIEs) 7 4
Total current assets 601 742
Property, Plant and Equipment    
Cost 11,906 10,869
Accumulated depreciation and amortization (2,259) (2,081)
Facilities to be retired, net 2 9
Net property, plant and equipment 9,649 8,797
Other Noncurrent Assets    
Goodwill 49 49
Other Noncurrent Assets: Regulatory assets 410 392
Operating lease right-of-use assets, net 4 4
Investments in equity method unconsolidated affiliates 78 79
Other (including amounts related to VIEs) 276 272
Total other noncurrent assets 817 796
Total Assets 11,067 10,335
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 315 345
Taxes accrued 89 74
Interest accrued 39 40
Current maturities of long-term debt 40 45
Regulatory liabilities 98 74
Other 77 81
Total current liabilities 1,250 1,224
Long-Term Debt (includes amounts related to VIEs) 3,628 3,318
Other Noncurrent Liabilities    
Deferred income taxes 933 870
Total noncurrent asset retirement obligation 26 26
Total noncurrent regulatory liabilities 988 1,024
Operating lease liabilities 10 13
Accrued pension and other post-retirement benefit costs 8 7
Other noncurrent liabilities 172 180
Total other noncurrent liabilities 2,137 2,120
Commitments and Contingencies
Equity    
Common stock 1,635 1,635
Retained earnings 2,416 2,037
Total Duke Energy Corporation stockholders' equity 4,051 3,672
Noncontrolling interests 1 1
Total equity 4,052 3,673
Total Liabilities and Equity 11,067 10,335
Piedmont | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 10 11
Current Liabilities    
Accounts payable (includes $188 at 2023 related to VIEs) 54 51
Notes payable to affiliated companies $ 538 $ 514
v3.24.0.1
Condensed Consolidated Balance Sheets - Piedmont (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts - receivables $ 55 $ 40
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares outstanding (in shares) 771,000,000 770,000,000
Stockholders' Equity Attributable to Parent $ 49,112 $ 49,322
Piedmont    
Allowance for doubtful accounts - receivables $ 11 $ 14
Common stock, par value (in usd per share) $ 0 $ 0
Common stock, shares authorized (in shares) 100 100
Common stock, shares outstanding (in shares) 100 100
Stockholders' Equity Attributable to Parent $ 4,051 $ 3,672
v3.24.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Piedmont - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 2,841 $ 2,550 $ 3,908
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,084 5,843 5,663
Equity component of AFUDC (198) (197) (171)
Gains on sales of other assets (52) (22) (13)
Impairment of assets and other charges 85 434 353
Deferred income taxes 3 (200) 191
Contributions to qualified pension plans (100) (58)  
Provision for rate refunds (63) (130) (70)
(Increase) decrease in      
Receivables 443 (788) (297)
Inventory (706) (476) (34)
Other current assets (267) (1,498) (1,136)
Increase (decrease) in      
Accounts payable (800) 805 249
Taxes accrued 126 10 284
Other current liabilities (26) (153) (13)
Other assets 914 (1,577) 125
Other liabilities 584 410 95
Net cash provided by operating activities 9,878 5,927 8,290
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,604) (11,367) (9,715)
Contributions to equity method investments (34) (58) (81)
Other (799) (727) (333)
Net cash used in investing activities (12,475) (11,973) (10,935)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 10,028 11,874 9,052
Payments for the redemption of long-term debt (4,737) (4,396) (5,294)
Other (124) (130) (94)
Net cash provided by financing activities 2,351 6,129 2,609
Net (decrease) increase in cash, cash equivalents and restricted cash (246) 83 (36)
Cash, cash equivalents and restricted cash at beginning of period 603 520 556
Cash, cash equivalents and restricted cash at end of period 357 603 520
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 2,883 2,361 2,248
Cash paid for (received from) income taxes 1 (6) (3)
Significant non-cash transactions:      
Accrued capital expenditures 1,908 1,766 1,325
Piedmont      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 379 323 310
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 239 225 216
Equity component of AFUDC (21) (11) (20)
Impairment of assets and other charges (4) 18 10
Deferred income taxes 38 5 4
Contributions to qualified pension plans (3) (2)  
Equity in earnings from unconsolidated affiliates (9) (8) (9)
Provision for rate refunds   (3) (4)
(Increase) decrease in      
Receivables 127 (111) (77)
Receivables from affiliated companies 1   (1)
Inventory 58 (63) (40)
Other current assets (46) 32 33
Increase (decrease) in      
Accounts payable (45) 40 (25)
Accounts payable to affiliated companies 3 11 (39)
Taxes accrued 15 11 37
Other current liabilities 27 36 (26)
Other assets (7) 5 26
Other liabilities 10 (1) (4)
Net cash provided by operating activities 762 507 391
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (1,036) (862) (850)
Contributions to equity method investments   (8) (9)
Other (54) (26) (31)
Net cash used in investing activities (1,090) (896) (890)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 348 394 347
Payments for the redemption of long-term debt (45)   (160)
Notes payable to affiliated companies 25 (4) (13)
Contribution from parent     325
Other   (1)  
Net cash provided by financing activities 328 389 499
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 162 135 114
Cash paid for (received from) income taxes 28 23 (13)
Significant non-cash transactions:      
Accrued capital expenditures $ 223 $ 207 $ 97
v3.24.0.1
Condensed Consolidated Statements of Changes in Equity - Piedmont - USD ($)
$ in Millions
Total
Common Stock
Retained Earnings
Total Equity
Noncontrolling Interests
Piedmont
Piedmont
Common Stock
Piedmont
Retained Earnings
Piedmont
Total Equity
Piedmont
Noncontrolling Interests
Beginning Balance (Attributable to Parent) at Dec. 31, 2020   $ 1 $ 2,471 $ 47,964     $ 1,310 $ 1,405 $ 2,715  
Beginning Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2020         $ 1,220         $ 0
Beginning Balance (Parent) at Dec. 31, 2020 $ 49,184         $ 2,715        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 3,579         310   310 310  
Contribution from parent           325 325   325  
Other (8)     (9) 1 (1)   (1) (1)  
Ending Balance (Attributable to Parent) at Dec. 31, 2021   1 3,265 49,296     1,635 1,714 3,349  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2021         1,840         0
Ending Balance (Parent) at Dec. 31, 2021 51,136         3,349        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 2,455         323   323 323  
Other 3   1 2 1 1       1
Ending Balance (Attributable to Parent) at Dec. 31, 2022 49,322 1 2,637 49,322   3,672 1,635 2,037 3,672  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2022 2,531       2,531 1       1
Ending Balance (Parent) at Dec. 31, 2022 51,853         3,673        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 2,874         379   379 379  
Other (2)   1 (6) 4          
Ending Balance (Attributable to Parent) at Dec. 31, 2023 49,112 $ 1 $ 2,235 $ 49,112   4,051 $ 1,635 $ 2,416 $ 4,051  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2023 1,075       $ 1,075 1       $ 1
Ending Balance (Parent) at Dec. 31, 2023 $ 50,187         $ 4,052        
v3.24.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations and Basis of Consolidation
Duke Energy is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies listed below. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Certain Duke Energy subsidiaries are also subsidiary registrants, including Duke Energy Carolinas; Progress Energy; Duke Energy Progress; Duke Energy Florida; Duke Energy Ohio; Duke Energy Indiana and Piedmont. When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its separate Subsidiary Registrants, which along with Duke Energy, are collectively referred to as the Duke Energy Registrants.
The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Consolidated Financial Statements. However, none of the Subsidiary Registrants make any representation as to information related solely to Duke Energy or the Subsidiary Registrants of Duke Energy other than itself.
These Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 18 for additional information on VIEs. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. See Note 9 for additional information on joint ownership. Substantially all of the Subsidiary Registrants' operations qualify for regulatory accounting.
Duke Energy Carolinas is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Carolinas is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC.
Progress Energy is a public utility holding company, which conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Progress Energy is subject to regulation by FERC and other regulatory agencies listed below.
Duke Energy Progress is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Progress is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC.
Duke Energy Florida is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. Duke Energy Florida is subject to the regulatory provisions of the FPSC, NRC and FERC.
Duke Energy Ohio is a regulated public utility primarily engaged in the transmission and distribution of electricity in portions of Ohio and Kentucky, the generation and sale of electricity in portions of Kentucky and the transportation and sale of natural gas in portions of Ohio and Kentucky. Duke Energy Ohio conducts competitive auctions for retail electricity supply in Ohio whereby the energy price is recovered from retail customers and recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Operations in Kentucky are conducted through its wholly owned subsidiary, Duke Energy Kentucky. References herein to Duke Energy Ohio collectively include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the PUCO, KPSC and FERC.
Duke Energy Indiana is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Indiana. Duke Energy Indiana is subject to the regulatory provisions of the IURC and FERC.
Piedmont is a regulated public utility primarily engaged in the distribution of natural gas in portions of North Carolina, South Carolina and Tennessee. Piedmont is subject to the regulatory provisions of the NCUC, PSCSC, TPUC and FERC.
Certain prior year amounts have been reclassified to conform to the current year presentation.
Other Current Assets and Liabilities
The following table provides a description of amounts included in Other within Current Assets or Current Liabilities that exceed 5% of total Current Assets or Current Liabilities on the Duke Energy Registrants' Consolidated Balance Sheets at either December 31, 2023, or 2022.
December 31,
(in millions)Location20232022
Duke Energy Carolinas
Accrued compensation Current Liabilities$224 $247 
Duke Energy Florida  
Customer deposits/Collateral liabilities
Current Liabilities$168 $200 
Duke Energy Ohio  
Gas StorageCurrent Assets$23 $57 
Tax receivables
Current Assets
95 4 
Duke Energy Indiana    
Mark-to-market transactionsCurrent Assets$18 $110 
Customer advances
Current Liabilities
$87 $51 
Discontinued Operations
Duke Energy has elected to present cash flows of discontinued operations combined with cash flows of continuing operations. Unless otherwise noted, the notes to these consolidated financial statements exclude amounts related to discontinued operations for all periods presented. For the years ended December 31, 2023, 2022 and 2021, the Loss From Discontinued Operations, net of tax on Duke Energy's Consolidated Statements of Operations includes amounts related to noncontrolling interests. A portion of Noncontrolling interests on Duke Energy's Consolidated Balance Sheets relates to discontinued operations for the periods presented. See Note 2 for discussion of discontinued operations related to the Commercial Renewables Disposal Groups.
Noncontrolling Interest
Duke Energy maintains a controlling financial interest in certain less than wholly owned subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Consolidated Balance Sheets. 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.
Significant Accounting Policies
Use of Estimates
In preparing financial statements that conform to GAAP, the Duke Energy Registrants must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
Regulatory Accounting
The majority of the Duke Energy Registrants’ operations are subject to price regulation for the sale of electricity and natural gas by state utility commissions or FERC. When prices are set on the basis of specific costs of the regulated operations and an effective franchise is in place such that sufficient natural gas or electric services can be sold to recover those costs, the Duke Energy Registrants apply regulatory accounting. Regulatory accounting changes the timing of the recognition of costs or revenues relative to a company that does not apply regulatory accounting. As a result, regulatory assets and regulatory liabilities are recognized on the Consolidated Balance Sheets. Regulatory assets and liabilities are amortized consistent with the treatment of the related cost in the ratemaking process. Regulatory assets are reviewed for recoverability each reporting period. If a regulatory asset is no longer deemed probable of recovery, the deferred cost is charged to earnings. See Note 4 for further information.
Regulatory accounting rules also require recognition of a disallowance (also called "impairment") loss if it becomes probable that part of the cost of a plant under construction (or a recently completed plant or an abandoned plant) will be disallowed for ratemaking purposes and a reasonable estimate of the amount of the disallowance can be made. For example, if a cost cap is set for a plant still under construction, the amount of the disallowance is a result of a judgment as to the ultimate cost of the plant. These disallowances can require judgments on allowed future rate recovery.
When it becomes probable that regulated generation, transmission or distribution assets will be abandoned, the cost of the asset is removed from plant in service. The value that may be retained as a regulatory asset on the balance sheet for the abandoned property is dependent upon amounts that may be recovered through regulated rates, including any return. As such, an impairment charge could be partially or fully offset by the establishment of a regulatory asset if rate recovery is probable. The impairment charge for a disallowance of costs for regulated plants under construction, recently completed or abandoned is based on discounted cash flows.
The Duke Energy Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses or PGA clauses. These clauses allow for the recovery of fuel and fuel-related costs, portions of purchased power, natural gas costs and hedging costs through surcharges on customer rates. The difference between the costs incurred and the surcharge revenues is recorded either as an adjustment to Operating Revenues, Operating Expenses – Fuel used in electric generation or Operating Expenses – Cost of natural gas on the Consolidated Statements of Operations, with an off-setting impact on regulatory assets or liabilities.
Cash, Cash Equivalents and Restricted Cash
All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. Duke Energy Carolinas and Duke Energy Progress have restricted cash balances related to VIEs from storm recovery bonds issued. See Note 18 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Consolidated Balance Sheets. The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
December 31, 2023
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$253 $9 $59 $18 $24 
Other76 9 67 31 36 
Other Noncurrent Assets
Other16 1 9 2 7 
Total cash, cash equivalents and restricted cash$345 $19 $135 $51 $67 
December 31, 2022
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$409 $44 $108 $49 $45 
Other82 8 74 28 41 
Other Noncurrent Assets
Other11 1 2 2 — 
Total cash, cash equivalents and restricted cash$502 $53 $184 $79 $86 
Inventory
Inventory related to regulated operations is valued at historical cost. Inventory is charged to expense or capitalized to property, plant and equipment when issued, primarily using the average cost method. Excess or obsolete inventory is written down to the lower of cost or net realizable value. Once inventory has been written down, it creates a new cost basis for the inventory that is not subsequently written up. Provisions for inventory write-offs were not material at December 31, 2023, and 2022, respectively. The components of inventory are presented in the tables below.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $3,086 $1,075 $1,465 $963 $502 $139 $361 $12 
Coal 842 364 231 154 77 28 219 — 
Natural gas, oil and other 364 45 205 110 95 12 2 100 
Total inventory $4,292 $1,484 $1,901 $1,227 $674 $179 $582 $112 
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,604 $876 $1,232 $819 $413 $105 $342 $12 
Coal620 253 190 99 91 34 144 — 
Natural gas, oil and other360 35 157 88 69 5 3 160 
Total inventory $3,584 $1,164 $1,579 $1,006 $573 $144 $489 $172 
Investments in Debt and Equity Securities
The Duke Energy Registrants classify investments in equity securities as FV-NI and investments in debt securities as AFS. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on securities classified as FV-NI are reported through net income. Unrealized gains and losses for debt securities classified as AFS are included in AOCI until realized, unless it is determined the carrying value of an investment has a credit loss. For certain investments of regulated operations, such as substantially all of the NDTF, realized and unrealized gains and losses (including any credit losses) on debt securities are recorded as a regulatory asset or liability. The credit loss portion of debt securities of nonregulated operations are included in earnings. Investments in debt and equity securities are classified as either current or noncurrent based on management’s intent and ability to sell these securities, taking into consideration current market liquidity. See Note 16 for further information.
Goodwill
Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be a business segment or one level below. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont update these tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. See Note 12 for further information.
Intangible Assets
Intangible assets are included in Other in Other Noncurrent Assets on the Consolidated Balance Sheets. Generally, intangible assets are amortized using an amortization method that reflects the pattern in which the economic benefits of the intangible asset are consumed or on a straight-line basis if that pattern is not readily determinable. Amortization of intangibles is reflected in Depreciation and amortization on the Consolidated Statements of Operations. Intangible assets are subject to impairment testing and if impaired, the carrying value is accordingly reduced.
RECs are used to measure compliance with renewable energy standards and are held primarily for consumption. See Note 12 for further information.
Long-Lived Asset Impairments
The Duke Energy Registrants evaluate long-lived assets that are held and used, excluding goodwill, for impairment when circumstances indicate the carrying value of those assets may not be recoverable. An impairment exists when a long-lived asset’s carrying value exceeds the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. If the carrying value of the long-lived asset is not recoverable based on these estimated future undiscounted cash flows, the carrying value of the asset is written down to its then current estimated fair value and an impairment charge is recognized.
The Duke Energy Registrants assess fair value of long-lived assets that are held and used using various methods, including recent comparable third-party sales, internally developed discounted cash flow analysis and analysis from outside advisors. Triggering events to reassess cash flows may include, but are not limited to, significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset.
Property, Plant and Equipment
Property, plant and equipment are stated at the lower of depreciated historical cost net of any disallowances or fair value, if impaired. The Duke Energy Registrants capitalize all construction-related direct labor and material costs, as well as indirect construction costs such as general engineering, taxes and financing costs. See “Allowance for Funds Used During Construction and Interest Capitalized” section below for information on capitalized financing costs. Costs of renewals and betterments that extend the useful life of property, plant and equipment are also capitalized. The cost of repairs, replacements and major maintenance projects, which do not extend the useful life or increase the expected output of the asset, are expensed as incurred. Depreciation is generally computed over the estimated useful life of the asset using the composite straight-line method. Depreciation studies are conducted periodically to update composite rates and are approved by state utility commissions and/or the FERC when required. The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 Years Ended December 31,
 202320222021
Duke Energy 2.9 %3.0 %2.9 %
Duke Energy Carolinas 2.7 %2.7 %2.7 %
Progress Energy 3.3 %3.2 %3.1 %
Duke Energy Progress 3.1 %3.0 %3.0 %
Duke Energy Florida 3.5 %3.5 %3.3 %
Duke Energy Ohio 2.8 %2.9 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.6 %
Piedmont2.1 %2.1 %2.1 %
In general, when the Duke Energy Registrants retire regulated property, plant and equipment, the original cost plus the cost of retirement, less salvage value and any depreciation already recognized, is charged to accumulated depreciation. However, when it becomes probable the asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory assets on the Consolidated Balance Sheets if deemed recoverable (see discussion of long-lived asset impairments above). The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate.
When the Duke Energy Registrants sell entire regulated operating units, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets. Any gain or loss is recorded in earnings, unless otherwise required by the applicable regulatory body. See Note 11 for additional information.
Other Noncurrent Assets
Duke Energy, through a nonregulated subsidiary, was the winner of the Carolina Long Bay offshore wind auction in May 2022 and recorded an asset of $150 million related to the contract in Other within Other noncurrent assets on the Consolidated Balance Sheets as of December 31, 2023 and 2022. The asset is recorded at historical cost and is subject to impairment testing should circumstances indicate the carrying value may not be recoverable. In November 2022, Duke Energy committed to a plan to sell the Commercial Renewables business segment, excluding the offshore wind contract for Carolina Long Bay, which was moved to the EU&I segment. See Notes 2 and 3 for further information.
Leases
Duke Energy determines if an arrangement is a lease at contract inception based on whether the arrangement involves the use of a physically distinct identified asset and whether Duke Energy has the right to obtain substantially all of the economic benefits from the use of the asset throughout the period as well as the right to direct the use of the asset. As a policy election, Duke Energy does not evaluate arrangements with initial contract terms of less than one year as leases.
Operating leases are included in Operating lease ROU assets, net, Other current liabilities and Operating lease liabilities on the Consolidated Balance Sheets. Finance leases are included in Property, Plant and Equipment, Current maturities of long-term debt and Long-Term Debt on the Consolidated Balance Sheets.
For lessee and lessor arrangements, Duke Energy has elected a policy to not separate lease and non-lease components for all asset classes. For lessor arrangements, lease and non-lease components are only combined under one arrangement and accounted for under the lease accounting framework if the non-lease components are not the predominant component of the arrangement and the lease component would be classified as an operating lease.
Nuclear Fuel
Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets.
Nuclear fuel in the front-end fuel processing phase is considered work in progress and not amortized until placed in service. Amortization of nuclear fuel is included within Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. Amortization is recorded using the units-of-production method.
Allowance for Funds Used During Construction and Interest Capitalized
For regulated operations, the debt and equity costs of financing the construction of property, plant and equipment are reflected as AFUDC and capitalized as a component of the cost of property, plant and equipment. AFUDC equity is reported on the Consolidated Statements of Operations as non-cash income in Other income and expenses, net. AFUDC debt is reported as a non-cash offset to Interest Expense. After construction is completed, the Duke Energy Registrants are permitted to recover these costs through their inclusion in rate base and the corresponding subsequent depreciation or amortization of those regulated assets.
AFUDC equity, a permanent difference for income taxes, reduces the ETR when capitalized and increases the ETR when depreciated or amortized. See Note 24 for additional information.
Asset Retirement Obligations
AROs are recognized for legal obligations associated with the retirement of property, plant and equipment. When recording an ARO, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset unless determined not to be probable of recovery.
The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the ARO for regulated operations through a combination of regulated revenues and earnings on the NDTF. As a result, amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset are netted and deferred as a regulatory asset or liability.
Accounts Payable
Duke Energy has a voluntary supply chain finance program (the “program”) that allows Duke Energy suppliers, at their sole discretion, to sell their receivables from Duke Energy to a global financial institution at a rate that leverages Duke Energy’s credit rating and, which may result in favorable terms compared to the rate available to the supplier on their own credit rating. Suppliers participating in the program, determine at their sole discretion which invoices they will sell to the financial institution. Suppliers’ decisions on which invoices are sold do not impact Duke Energy’s payment terms, which are based on commercial terms negotiated between Duke Energy and the supplier regardless of program participation. The commercial terms negotiated between Duke Energy and its suppliers are consistent regardless of whether the supplier elects to participate in the program. Duke Energy does not issue any guarantees with respect to the program and does not participate in negotiations between suppliers and the financial institution. Duke Energy does not have an economic interest in the supplier’s decision to participate in the program and receives no interest, fees or other benefit from the financial institution based on supplier participation in the program.
The following table presents the outstanding accounts payable balance sold to the financial institution by our suppliers and the supplier invoices sold to the financial institution under the program included within Net cash provided by operating activities on the Consolidated Statements of Cash Flows as of December 31, 2023, and December 31, 2022.
 
For the Years Ended December 31, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Confirmed obligations outstanding at December 31, 2021
$19 $— $9 $— $9 $6 $— $4 
Invoices confirmed during the period
283 29 76 26 50 32 2 145 
Confirmed invoices paid during the period
(215)(23)(66)(18)(48)(33)(2)(92)
Confirmed obligations outstanding at December 31, 2022
$87 $6 $19 $8 $11 $5 $— $57 
Invoices confirmed during the period
228 24 58 22 36 7 — 139 
Confirmed invoices paid during the period
(265)(30)(74)(30)(44)(12)— (149)
Confirmed obligations outstanding at December 31, 2023
$50 $— $3 $— $3 $— $— $47 
Revenue Recognition
Duke Energy recognizes revenue as customers obtain control of promised goods and services in an amount that reflects consideration expected in exchange for those goods or services. Generally, the delivery of electricity and natural gas results in the transfer of control to customers at the time the commodity is delivered and the amount of revenue recognized is equal to the amount billed to each customer, including estimated volumes delivered when billings have not yet occurred. See Note 19 for further information.
Alternative Revenue Programs
Duke Energy accounts for certain types of programs established by the regulators in the states in which it operates, including decoupling mechanisms, as alternative revenue programs. Alternative revenue programs are contracts between an entity and its regulator, not a contract between an entity and a customer. Revenue arising from alternative revenue programs is presented as Regulated electric revenues and Regulated natural gas revenues on the Consolidated Statements of Operations. Revenue from alternative revenue programs is recognized in the period they are earned (i.e. during the period of revenue shortfall or excess due to fluctuations in customer usage or when specific targets are met resulting in the achievement of performance incentives or penalties) and a regulatory asset or liability on the Consolidated Balance Sheets is established which is subsequently billed or refunded to customers. Duke Energy recognizes revenue as alternative revenue programs for programs that have been authorized for rate recovery, are objectively determinable and probable of recovery, and are expected to be collected within 24 months. See Note 19 for disaggregated revenue information including revenue from contracts with customers and revenues recognized as alternative revenue programs.
Derivatives and Hedging
Derivative and non-derivative instruments may be used in connection with commodity price and interest rate activities, including swaps, futures, forwards and options. All derivative instruments, except those that qualify for the NPNS exception, are recorded on the Consolidated Balance Sheets at fair value. Qualifying derivative instruments may be designated as either cash flow hedges or fair value hedges. Other derivative instruments (undesignated contracts) either have not been designated or do not qualify as hedges. The effective portion of the change in the fair value of cash flow hedges is recorded in AOCI. The effective portion of the change in the fair value of a fair value hedge is offset in net income by changes in the hedged item. For activity subject to regulatory accounting, gains and losses on derivative contracts are reflected as regulatory assets or liabilities and not as other comprehensive income or current period income. As a result, changes in fair value of these derivatives have no immediate earnings impact.
Formal documentation, including transaction type and risk management strategy, is maintained for all contracts accounted for as a hedge. At inception and at least every three months thereafter, the hedge contract is assessed to see if it is highly effective in offsetting changes in cash flows or fair values of hedged items.
See Note 15 for further information.
Captive Insurance Reserves
Duke Energy has captive insurance subsidiaries that provide coverage, on an indemnity basis, to the Subsidiary Registrants as well as certain third parties, on a limited basis, for financial losses, primarily related to property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not reported (IBNR), as well as estimated provisions for known claims. IBNR reserve estimates are primarily based upon historical loss experience, industry data and other actuarial assumptions. Reserve estimates are adjusted in future periods as actual losses differ from experience.
Duke Energy, through its captive insurance entities, also has reinsurance coverage with third parties for certain losses above a per occurrence and/or aggregate retention. Receivables for reinsurance coverage are recognized when realization is deemed probable.
Preferred Stock
Preferred stock is reviewed to determine the appropriate balance sheet classification and embedded features, such as call options, are evaluated to determine if they should be bifurcated and accounted for separately. Costs directly related to the issuance of preferred stock are recorded as a reduction of the proceeds received. The liability for the dividend is recognized when declared. The accumulated dividends on the cumulative preferred stock is recognized to net income available to Duke Energy Corporation in the EPS calculation. See Note 20 for further information.
Loss Contingencies and Environmental Liabilities
Contingent losses are recorded when it is probable a loss has occurred and the loss can be reasonably estimated. When a range of the probable loss exists and no amount within the range is a better estimate than any other amount, the minimum amount in the range is recorded. Unless otherwise required by GAAP, legal fees are expensed as incurred.
Environmental liabilities are recorded on an undiscounted basis when environmental remediation or other liabilities become probable and can be reasonably estimated. Environmental expenditures related to past operations that do not generate current or future revenues are expensed. Environmental expenditures related to operations that generate current or future revenues are expensed or capitalized, as appropriate. Certain environmental expenditures receive regulatory accounting treatment and are recorded as regulatory assets.
See Notes 4 and 5 for further information.
Severance and Special Termination Benefits
Duke Energy maintains severance plans for the general employee population under which, in general, the longer a terminated employee worked prior to termination the greater the amount of severance benefits provided. A liability for involuntary severance is recorded once an involuntary severance plan is committed to by management if involuntary severances are probable and can be reasonably estimated. For involuntary severance benefits incremental to its ongoing severance plan benefits, the fair value of the obligation is expensed at the communication date if there are no future service requirements or over the required future service period. Duke Energy also offers special termination benefits under voluntary severance programs. Special termination benefits are recorded immediately upon employee acceptance absent a significant retention period. Otherwise, the cost is recorded over the remaining service period. Employee acceptance of voluntary severance benefits is determined by management based on the facts and circumstances of the benefits being offered. See Note 21 for further information.
Guarantees
If necessary, liabilities are recognized at the time of issuance or material modification of a guarantee for the estimated fair value of the obligation it assumes. Fair value is estimated using a probability weighted approach. The obligation is reduced over the term of the guarantee or related contract in a systematic and rational method as risk is reduced. Duke Energy recognizes a liability for the best estimate of its loss due to the nonperformance of the guaranteed party. This liability is recognized at the inception of a guarantee and is updated periodically. See Note 8 for further information.
Income Taxes
Duke Energy and its subsidiaries file a consolidated federal income tax return and other state and foreign jurisdictional returns. The Subsidiary Registrants are parties to a tax-sharing agreement with Duke Energy. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. Deferred income taxes have been provided for temporary differences between GAAP and tax bases of assets and liabilities because the differences create taxable or tax-deductible amounts for future periods. ITCs associated with regulated operations are deferred and amortized as a reduction of income tax expense over the estimated useful lives of the related properties.
Accumulated deferred income taxes are valued using the enacted tax rate expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be settled or realized. In the event of a change in tax rates, deferred tax assets and liabilities are remeasured as of the enactment date of the new rate. To the extent that the change in the value of the deferred tax represents an obligation to customers, the impact of the remeasurement is deferred to a regulatory liability. Remaining impacts are recorded in income from continuing operations. Duke Energy's results of operations could be impacted if the estimate of the tax effect of reversing temporary differences is not reflective of actual outcomes, is modified to reflect new developments or interpretations of the tax law, revised to incorporate new accounting principles, or changes in the expected timing or manner of a reversal.
Tax-related interest and penalties are recorded in Interest Expense and Other income and expenses, net in the Consolidated Statements of Operations.
See Note 24 for further information.
Excise Taxes
Certain excise taxes levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis. Taxes for which Duke Energy operates merely as a collection agent for the state and local government are accounted for on a net basis. Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows.
Years Ended December 31,
(in millions) 202320222021
Duke Energy $458 $449 $420 
Duke Energy Carolinas 27 47 44 
Progress Energy 322 290 250 
Duke Energy Progress 5 25 22 
Duke Energy Florida 317 265 228 
Duke Energy Ohio 106 104 102 
Duke Energy Indiana 1 7 23 
Piedmont2 1 1 
Dividend Restrictions and Unappropriated Retained Earnings
Duke Energy does not have any current legal, regulatory or other restrictions on paying common stock dividends to shareholders. However, if Duke Energy were to defer dividend payments on the preferred stock, the declaration of common stock dividends would be prohibited. See Note 20 for more information. Additionally, as further described in Note 4, Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio, Duke Energy Indiana and Piedmont have restrictions on paying dividends or otherwise advancing funds to Duke Energy due to conditions established by regulators in conjunction with merger transaction approvals. At December 31, 2023, and 2022, an insignificant amount of Duke Energy’s consolidated Retained earnings balance represents undistributed earnings of equity method investments.
New Accounting Standards
The following accounting standard was adopted by the Duke Energy Registrants in 2021.
Leases with Variable Lease Payments. In July 2021, the Financial Accounting Standards Board issued new accounting guidance requiring lessors to classify a lease with variable lease payments that do not depend on a reference index or rate as an operating lease if both of the following are met: (1) the lease would have to be classified as a sales-type or direct financing lease under prior guidance, and (2) the lessor would have recognized a day-one loss. Duke Energy elected to adopt the guidance immediately upon issuance of the new standard and will be applying the new standard prospectively to new lease arrangements meeting the criteria. Duke Energy did not have any lease arrangements that this new accounting guidance materially impacted.
v3.24.0.1
Dispositions
 12 Months Ended
Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Dispositions DISPOSITIONS
The following table summarizes the Loss from Discontinued Operations, net of tax recorded on Duke Energy's Consolidated Statements of Operations:
Years Ended December 31,
(in millions)202320222021
Commercial Renewables Disposal Groups$(1,457)$(1,349)$(151)
Other(a)
2 26 7 
Loss from Discontinued Operations, net of tax$(1,455)$(1,323)$(144)
(a)     Amounts primarily represent income tax adjustments for previously sold businesses not related to the Commercial Renewables Disposal Groups.
Sale of Commercial Renewables Segment
In November 2022, Duke Energy committed to a plan to sell the Commercial Renewables business segment, excluding the offshore wind contract for Carolina Long Bay, which was moved to the EU&I segment. In June 2023, Duke Energy announced that it had entered into a purchase and sale agreement with affiliates of Brookfield for the sale of the utility-scale solar and wind group. Duke Energy closed on this transaction on October 25, 2023, for proceeds of $1.1 billion, with approximately half of the proceeds received at closing and the remainder due 18 months after closing. The balance of the proceeds to be received is classified in Other, within Other Noncurrent Asset on Duke Energy's Consolidated Balance Sheets. In July 2023, Duke Energy announced that it had entered into a purchase and sale agreement with affiliates of ArcLight for the distributed generation group. Duke Energy closed on this transaction on October 4, 2023, and received proceeds of $243 million. These proceeds amounts are gross of cash divested as part of the sales of the utility-scale wind and solar group and the distributed generation group, which totaled approximately $75 million. In March 2023, assets for certain projects were removed from the utility-scale solar and wind group and placed in a separate disposal group. The disposal process for the remaining assets is expected to be completed in the first half of 2024, with net proceeds from the dispositions not anticipated to be material.
Assets Held For Sale and Discontinued Operations
The Commercial Renewables Disposal Groups were classified as held for sale and as discontinued operations in the fourth quarter of 2022. No interest from corporate level debt was allocated to discontinued operations and no adjustments were made to the historical activity within the Consolidated Statements of Comprehensive Income, Consolidated Statements of Cash Flows or the Consolidated Statements of Changes in Equity. Unless otherwise noted, the notes to these consolidated financial statements exclude amounts related to discontinued operations for all periods presented.
The following table presents the carrying values of the major classes of Assets held for sale and Liabilities associated with assets held for sale included in Duke Energy's Consolidated Balance Sheets.
December 31,
(in millions)20232022
Current Assets Held for Sale
Cash and cash equivalents$— $10 
Receivables, net— 107 
Inventory— 88 
Other14 151 
Total current assets held for sale14 356 
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost247 6,444 
Accumulated depreciation and amortization(57)(1,651)
Net property, plant and equipment190 4,793 
Operating lease right-of-use assets, net4 140 
Investments in equity method unconsolidated affiliates— 522 
Other3 179 
Total other noncurrent assets held for sale7 841 
Total Assets Held for Sale$211 $5,990 
Current Liabilities Associated with Assets Held for Sale
Accounts payable$9 $122 
Taxes accrued3 17 
Current maturities of long-term debt
5 276 
Unrealized losses on commodity hedges
68 37 
Other37 83 
Total current liabilities associated with assets held for sale122 535 
Noncurrent Liabilities Associated with Assets Held for Sale
Long-Term debt39 1,188 
Operating lease liabilities5 150 
Asset retirement obligations8 190 
Unrealized losses on commodity hedges
94 187 
Other11 212 
Total other noncurrent liabilities associated with assets held for sale157 1,927 
Total Liabilities Associated with Assets Held for Sale$279 $2,462 
As of December 31, 2023, and 2022, the noncontrolling interest balance is $66.3 million and $1.6 billion, respectively.
The following table presents the results of the Commercial Renewables Disposal Groups, which are included in Loss from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations.
Years Ended December 31,
(in millions)202320222021
Operating revenues$330 $465 $476 
Operation, maintenance and other302337343
Depreciation and amortization(a)
— 201227
Property and other taxes453634
Other income and expenses, net(8)2 (27)
Interest expense651072
Loss on disposal1,725 1,748 — 
Loss before income taxes(1,815)(1,865)(227)
Income tax benefit(358)(516)(76)
Loss from discontinued operations $(1,457)$(1,349)$(151)
Add: Net loss attributable to noncontrolling interest included in discontinued operations64 108 344 
Net (loss) income from discontinued operations attributable to Duke Energy Corporation
$(1,393)$(1,241)$193 
(a)    Upon meeting the criteria for assets held for sale, beginning in November 2022 depreciation and amortization expense were ceased.
The Commercial Renewables Disposal Groups' assets held for sale amounts presented above reflect pretax impairments recorded against property, plant and equipment of approximately $278 million and $1.7 billion as of December 31, 2023, and 2022, respectively. In connection with the sales of the utility-scale solar and wind group and the distributed generation group, impairments were recorded based upon the purchase and sale agreements and the net assets were derecognized following the closing of the sales. For the remainder of the assets, impairments were recorded based upon fair value determined from a discounted cash flow analysis. The impairments were included in Loss from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations and Comprehensive Income for the periods presented. The discounted cash flow model utilized Level 2 and Level 3 inputs. The fair value hierarchy levels are further discussed in Note 17. The impairments for the utility-scale and distributed generation assets were updated based on customary adjustments at closing, and will be updated, if necessary, for any post-closing adjustments. The carrying amounts for the remaining assets will be updated, if necessary, based on final disposition amounts.
Duke Energy has elected not to separately disclose discontinued operations on Duke Energy's Consolidated Statements of Cash Flows. The following table summarizes Duke Energy's cash flows from discontinued operations related to the Commercial Renewables Disposal Groups.
Years Ended December 31,
(in millions)202320222021
Cash flows provided by (used in):
Operating activities$607 $213 $62 
Investing activities122 (802)(542)
Other Sale Related Matters
Duke Energy (Parent) and several Duke Energy renewables project companies, located in the Electric Reliability Council of Texas (ERCOT) market, were named in several lawsuits arising out of Texas Storm Uri, which occurred in February 2021. The legal actions related to all but one of the project companies in this matter transferred to affiliates of Brookfield in conjunction with the transaction closing in October 2023. See Note 5 for more information.
As part of the purchase and sale agreement for the distributed generation group, Duke Energy has agreed to retain certain guarantees, with expiration dates between 2029 through 2034, related to tax equity partners' assets and operations that will be disposed of via sale. Duke Energy has obtained certain guarantees from the buyers in regard to future performance obligations to assist in limiting Duke Energy's exposure under the retained guarantees. The fair value of the guarantees is immaterial as Duke Energy does not believe conditions are likely for performance under these guarantees.
Sale of Minority Interest in Duke Energy Indiana Holdco, LLC
On January 28, 2021, Duke Energy executed an agreement providing for an investment by an affiliate of GIC in Duke Energy Indiana in exchange for a 19.9% minority interest issued by Duke Energy Indiana Holdco, LLC, the holding company for Duke Energy Indiana. The transaction was completed following two closings for an aggregate purchase price of approximately $2.05 billion. The first closing, which occurred on September 8, 2021, resulted in Duke Energy Indiana Holdco, LLC issuing 11.05% of its membership interests in exchange for approximately $1.03 billion or 50% of the purchase price. The difference between the cash consideration received, net of transaction costs of approximately $27 million, and the carrying value of the noncontrolling interest is $545 million and was recorded as an increase to equity. The second closing was completed in December 2022 and resulted in Duke Energy Indiana Holdco, LLC issuing an additional 8.85% of its membership interests in exchange for approximately $1.03 billion. The difference between the cash consideration received, net of transaction costs of approximately $6 million, and the carrying value of the noncontrolling interest is $492 million and was recorded as an increase to equity. Duke Energy retained indirect control of these assets, and, therefore, no gain or loss was recognized on the Consolidated Statements of Operations for either transaction.
v3.24.0.1
Business Segments
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
Reportable segments are determined based on information used by the chief operating decision-maker in deciding how to allocate resources and evaluate the performance of the business. Duke Energy evaluates segment performance based on segment income. Segment income is defined as income from continuing operations net of income attributable to noncontrolling interests and preferred stock dividends. Segment income, as discussed below, includes intercompany revenues and expenses that are eliminated on the Consolidated Financial Statements. Certain governance costs are allocated to each segment. In addition, direct interest expense and income taxes are included in segment income.
Products and services are sold between affiliate companies and reportable segments of Duke Energy at cost. Segment assets as presented in the tables that follow exclude all intercompany assets.
Duke Energy
Due to Duke Energy's commitment in the fourth quarter of 2022 to sell the Commercial Renewables business segment, Duke Energy's segment structure now includes the following two segments: EU&I and GU&I. Prior period information has been recast to conform to the current segment structure. See Note 2 for further information on the Commercial Renewables Disposal Groups.
The EU&I segment includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. The regulated electric utilities conduct operations through the Subsidiary Registrants that are substantially all regulated and, accordingly, qualify for regulatory accounting treatment. EU&I also includes Duke Energy's electric transmission infrastructure investments and the offshore wind contract for Carolina Long Bay. Refer to Note 2 for further information.
The GU&I segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky, and Duke Energy's natural gas storage, midstream pipeline, and renewable natural gas investments. GU&I's operations are substantially all regulated and, accordingly, qualify for regulatory accounting treatment.
The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs and Duke Energy’s wholly owned captive insurance company, Bison. Other also includes Duke Energy's interest in NMC. See Note 13 for additional information on the investment in NMC.
Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.
Year Ended December 31, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated Revenues$26,846 $2,177 $29,023 $37 $— $29,060 
Intersegment Revenues75 89 164 97 (261)— 
Total Revenues$26,921 $2,266 $29,187 $134 $(261)$29,060 
Interest Expense$1,850 $217 $2,067 $1,097 $(150)$3,014 
Depreciation and amortization4,684 349 5,033 248 (28)5,253 
Equity in earnings of unconsolidated affiliates7 40 47 66 — 113 
Income tax expense (benefit)742 116 858 (420)— 438 
Segment income (loss)(a)(b)
4,223 519 4,742 (616)— 4,126 
Less noncontrolling interest(33)
Add back preferred stock dividend106 
Discontinued operations(1,391)
Net income$2,874 
Capital investments expenditures and acquisitions(c)
$10,135 $1,492 $11,627 $995 $— $12,622 
Segment assets(d)
155,449 17,349 172,798 4,095 — 176,893 
(a)    EU&I includes $35 million recorded with Impairment of assets and other charges and $8 million within Operations, maintenance and other primarily related to the North Carolina rate case order on Duke Energy Carolinas' Consolidated Statements of Operations; it also includes $33 million within Impairment of assets and other charges and $8 million within Operations, maintenance and other primarily related to the North Carolina rate case order on Duke Energy Progress' Consolidated Statements of Operations. See Note 4 for additional information.
(b)    Other includes $110 million recorded within Operations, maintenance and other and $14 million within Impairments of assets and other charges primarily related to strategic repositioning as the Company transitions to a fully regulated utility on the Consolidated Statements of Operations. See Note 21 for additional information.
(c)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(d)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.
Year Ended December 31, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated Revenues$25,990 $2,748 $28,738 $30 $— $28,768 
Intersegment Revenues34 92 126 92 (218)— 
Total Revenues$26,024 $2,840 $28,864 $122 $(218)$28,768 
Interest Expense$1,565 $182 $1,747 $778 $(86)$2,439 
Depreciation and amortization4,550 327 4,877 236 (27)5,086 
Equity in earnings of unconsolidated affiliates7 20 27 86 — 113 
Income tax expense (benefit)536 8 544 (244)— 300 
Segment income (loss)(a)(b)
3,929 468 4,397 (737)(1)3,659 
Less noncontrolling interest95 
Add back preferred stock dividend106 
Discontinued operations(1,215)
Net income$2,455 
Capital investments expenditures and acquisitions(c)
$8,985 $1,295 $10,280 $1,139 $— $11,419 
Segment assets(d)
152,104 16,411 168,515 9,571 — 178,086 
(a)    EU&I includes $386 million recorded within Impairment of assets and other charges, $46 million within Regulated electric revenues and $34 million within Noncontrolling Interests related to the Duke Energy Indiana court rulings on coal ash on the Consolidated Statements of Operations. See Note 4 for additional information.
(b)    Other includes $72 million recorded within Impairment of assets and other charges, $71 million within Operations, maintenance and other and a $7 million gain within Gains on sales of other assets related to costs attributable to business transformation, including long-term real estate strategy changes and workforce realignment on the Consolidated Statements of Operations; it also includes $25 million recorded within Operations, maintenance and other related to litigation on the Consolidated Statements of Operations.
(c)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(d)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.
Year Ended December 31, 2021
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated Revenues$22,570 $2,022 $24,592 $29 $— $24,621 
Intersegment Revenues33 90 123 84 (207)— 
Total Revenues$22,603 $2,112 $24,715 $113 $(207)$24,621 
Interest Expense$1,432 $142 $1,574 $643 $(10)$2,207 
Depreciation and amortization4,251 303 4,554 236 (28)4,762 
Equity in earnings of unconsolidated affiliates
7 8 15 47 — 62 
Income tax expense (benefit)494 55 549 (281)— 268 
Segment income (loss)(a)(b)(c)
3,850 396 4,246 (641)(3)3,602 
Less noncontrolling interest329 
Add back preferred stock dividend106 
Discontinued operations200 
Net income$3,579 
Capital investments expenditures and acquisitions(d)
$7,653 $1,271 $8,924 $828 $— $9,752 
Segment assets(e)
143,841 15,179 159,020 10,567 — 169,587 
(a)    EU&I includes $160 million of expense recorded within Impairment of assets and other charges, $77 million of income within Other Income and expenses, $5 million of expense within Operations, maintenance and other, $13 million of income within regulated operating revenues, $3 million of expense within interest expense and $6 million of expense within Depreciation and amortization on the Duke Energy Carolinas' Consolidated Statement of Operations related to the South Carolina Supreme Court decision on coal ash and insurance proceeds; it also includes $42 million of expense recorded within Impairment of assets and other charges, $34 million of income within Other Income and expenses, $7 million of expense within Operations, maintenance, and other, $15 million of income within Regulated electric operating revenues, $5 million of expense within interest expense and $1 million of expense within Depreciation and amortization on the Duke Energy Progress' Consolidated Statement of Operations.
(b)    GU&I includes $20 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Consolidated Statements of Operations, related to natural gas pipeline investments.
(c)    Other includes $133 million recorded within Impairment of assets and other charges, $42 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Consolidated Statements of Operations, related to the workplace and workforce realignment. See Note 11 for additional information.
(d)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(e)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.
Geographical Information
Substantially all assets and revenues from continuing operations are within the U.S.
Major Customers
No Subsidiary Registrant has an individual customer representing more than 10% of its revenues for the year ended December 31, 2023.
Products and Services
The following table summarizes revenues of the reportable segments by type.
RetailWholesaleRetailTotal
(in millions)ElectricElectricNatural GasOther Revenues
2023
Electric Utilities and Infrastructure$23,484 $2,193 $— $1,244 $26,921 
Gas Utilities and Infrastructure— — 2,199 67 2,266 
Total Reportable Segments$23,484 $2,193 $2,199 $1,311 $29,187 
2022
Electric Utilities and Infrastructure$22,036 $2,882 $— $1,106 $26,024 
Gas Utilities and Infrastructure— — 2,535 305 2,840 
Total Reportable Segments$22,036 $2,882 $2,535 $1,411 $28,864 
2021
Electric Utilities and Infrastructure$19,410 $2,216 $— $977 $22,603 
Gas Utilities and Infrastructure— — 2,025 87 2,112 
Total Reportable Segments$19,410 $2,216 $2,025 $1,064 $24,715 
Duke Energy Ohio
Duke Energy Ohio has two reportable segments, EU&I and GU&I.
EU&I transmits and distributes electricity in portions of Ohio and generates, distributes and sells electricity in portions of Northern Kentucky. GU&I transports and sells natural gas in portions of Ohio and Northern Kentucky. Both reportable segments conduct operations primarily through Duke Energy Ohio and its wholly owned subsidiary, Duke Energy Kentucky. The remainder of Duke Energy Ohio's operations is presented as Other.
All Duke Energy Ohio assets and revenues from continuing operations are within the U.S.
Year Ended December 31, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,868 $639 $2,507 $— $— $2,507 
Interest expense$116 $53 $169 $— $— $169 
Depreciation and amortization257 110 367 — — 367 
Income tax expense (benefit)42 23 65 (2)— 63 
Segment income (loss)/Net income227 116 343 (9)— 334 
Capital expenditures$520 $419 $939 $— $— $939 
Segment assets7,978 4,346 12,324 13 (121)12,216 
Year Ended December 31, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,798 $716 $2,514 $— $— $2,514 
Interest expense$86 $43 $129 $— $— $129 
Depreciation and amortization221 103 324 — — 324 
Income tax expense (benefit)24 (43)(19)(2)— (21)
Segment income (loss)/Net Income189 121 310 (8)— 302 
Capital expenditures$488 $362 $850 $— $— $850 
Segment assets7,504 4,164 11,668 14 (176)11,506 
Year Ended December 31, 2021
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,493 $544 $2,037 $— $— $2,037 
Interest expense$87 $24 $111 $— $— $111 
Depreciation and amortization217 90 307 — — 307 
Income tax expense (benefit)15 19 34 (4)— 30 
Segment income (loss)/Net Income
141 78 219 (15)— 204 
Capital expenditures$486 $362 $848 $— $— $848 
Segment assets6,882 3,892 10,774 29 (29)10,774 
v3.24.0.1
Regulatory Matters
 12 Months Ended
Dec. 31, 2023
Regulated Operations [Abstract]  
Regulatory Matters REGULATORY MATTERS
REGULATORY ASSETS AND LIABILITIES
The Duke Energy Registrants record regulatory assets and liabilities that result from the ratemaking process. See Note 1 for further information.
The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.
Duke EnergyProgress Energy
December 31,December 31,
(in millions)2023202220232022
Regulatory Assets
AROs – coal ash$3,214 $3,205 $1,230 $1,429 
AROs – nuclear and other1,179 945 1,127 884 
Deferred fuel and purchased power2,486 3,866 1,173 2,060 
Accrued pension and OPEB2,389 2,336 757 759 
Storm cost securitized balance, net890 940 682 720 
Nuclear asset securitized balance, net830 881 830 881 
Debt fair value adjustment774 829 — — 
Hedge costs deferrals749 378 323 128 
Storm cost deferrals407 687 298 559 
COR regulatory asset371 221 337 221 
Post-in-service carrying costs (PISCC) and deferred operating expenses357 359 42 42 
Retired generation facilities275 316 220 243 
Deferred asset – Lee and Harris COLA252 288 15 21 
Customer connect project251 271 125 136 
Advanced metering infrastructure (AMI)243 283 92 111 
Incremental COVID-19 expenses237 210 80 78 
Vacation accrual228 222 43 43 
Grid Deferral210 136 51 40 
Demand side management (DSM)/Energy efficiency (EE)201 189 191 188 
CEP deferral193 190 — — 
NCEMPA deferrals172 157 172 157 
Derivatives – natural gas supply contracts147 168 — — 
Deferred pipeline integrity costs133 121 — — 
Nuclear deferral131 154 42 64 
COR settlement115 120 30 32 
Decoupling115 42 15 — 
Deferred coal ash handling system costs86 92 21 25 
Qualifying facility contract buyouts68 81 68 81 
Network Integration Transmission Services deferral31 23 — — 
Transmission expansion obligation30 31 — — 
East Bend deferrals28 33 — — 
Propane caverns26 26 — — 
Tennessee ARM Deferral20 3 — — 
Other428 327 127 77 
Total regulatory assets17,266 18,130 8,091 8,979 
Less: Current portion
3,648 3,485 1,661 1,833 
Total noncurrent regulatory assets$13,618 $14,645 $6,430 $7,146 
Regulatory Liabilities
Net regulatory liability related to income taxes$5,901 $6,462 $2,008 $2,192 
COR regulatory liability5,497 5,151 2,805 2,269 
AROs – nuclear and other1,673 1,038 — — 
Hedge cost deferrals443 683 208 252 
Accrued pension and OPEB266 211 — — 
Deferred fuel and purchased power137 35 14 — 
DSM/EE89 88 — — 
DOE Settlement32 154 32 154 
Provision for rate refunds15 78 4 28 
Other1,355 1,148 430 434 
Total regulatory liabilities 15,408 15,048 5,501 5,329 
Less: Current portion
1,369 1,466 418 576 
Total noncurrent regulatory liabilities $14,039 $13,582 $5,083 $4,753 
Descriptions of regulatory assets and liabilities summarized in the tables above and below follow. See tables below for recovery and amortization periods at the separate registrants.
AROs – coal ash. Represents deferred depreciation and accretion related to the legal obligation to close ash basins. The costs are deferred until recovery treatment has been determined. See Notes 1 and 10 for additional information.
AROs – nuclear and other. Represents regulatory assets or liabilities, including deferred depreciation and accretion, related to legal obligations associated with the future retirement of property, plant and equipment, excluding amounts related to coal ash. The AROs relate primarily to decommissioning nuclear power facilities. The amounts also include certain deferred gains and losses on NDTF investments. See Notes 1 and 10 for additional information.
Deferred fuel and purchased power. Represents certain energy-related costs that are recoverable or refundable as approved by the applicable regulatory body.
Accrued pension and OPEB. Accrued pension and OPEB represent regulatory assets and liabilities related to each of the Duke Energy Registrants’ respective shares of unrecognized actuarial gains and losses and unrecognized prior service cost and credit attributable to Duke Energy’s pension plans and OPEB plans. The regulatory asset or liability is amortized with the recognition of actuarial gains and losses and prior service cost and credit to net periodic benefit costs for pension and OPEB plans. The accrued pension and OPEB regulatory assets are expected to be recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Storm cost securitized balance, net. Represents the North Carolina portion of storm restoration expenditures related to Hurricane Florence, Hurricane Michael, Hurricane Dorian and Winter Storm Diego (2018 and 2019 events).
Nuclear asset securitized balance, net. Represents the balance associated with Crystal River Unit 3 retirement approved for recovery by the FPSC on September 15, 2015, and the upfront financing costs securitized in 2016 with issuance of the associated bonds. The regulatory asset balance is net of the AFUDC equity portion.
Debt fair value adjustment. Purchase accounting adjustments recorded to state the carrying value of Progress Energy and Piedmont at fair value in connection with the 2012 and 2016 mergers, respectively. Amount is amortized over the life of the related debt.
Hedge costs deferrals. Amounts relate to unrealized gains and losses on derivatives recorded as a regulatory asset or liability, respectively, until the contracts are settled.
Storm cost deferrals. Represents deferred incremental costs incurred related to major weather-related events.
COR regulatory asset. Represents the excess of spend over funds received from customers to cover the future removal of property, plant and equipment from retired or abandoned sites as property is retired, net of certain deferred gains on NDTF investments.
Post-in-service carrying costs (PISCC) and deferred operating expenses. Represents deferred depreciation and operating expenses as well as carrying costs on the portion of capital expenditures placed in service but not yet reflected in retail rates as plant in service.
Retired generation facilities. Represents amounts to be recovered for facilities that have been retired and are probable of recovery.
Deferred asset – Lee and Harris COLA. Represents deferred costs incurred for the canceled Lee and Harris nuclear projects.
Customer connect project. Represents incremental operating expenses and carrying costs on deferred amounts related to the deployment of the new customer information system.
AMI. Represents deferred costs related to the installation of AMI meters and remaining net book value of non-AMI meters to be replaced at Duke Energy Carolinas, net book value of existing meters at Duke Energy Florida, Duke Energy Progress and Duke Energy Ohio and future recovery of net book value of electromechanical meters that have been replaced with AMI meters at Duke Energy Indiana.
Incremental COVID-19 expenses. Represents incremental costs related to ensuring continuity and quality of service in a safe manner during the COVID-19 pandemic.
Vacation accrual. Represents vacation entitlement, which is generally recovered in the following year.
Grid deferral. Represents deferred incremental operation and maintenance expense, depreciation and property taxes associated with grid improvement plans.
DSM/EE. Deferred costs related to various DSM and EE programs recoverable or refundable as approved by the applicable regulatory body.
CEP deferral. Represents deferred depreciation, PISCC and deferred property tax for Duke Energy Ohio Gas capital assets for the CEP.
NCEMPA deferrals. Represents retail allocated cost deferrals and returns associated with the additional ownership interest in assets acquired from NCEMPA in 2015.
Derivatives – natural gas supply contracts. Represents costs for certain long-dated, fixed quantity forward natural gas supply contracts, which are recoverable through PGA clauses.
Deferred pipeline integrity costs. Represents pipeline integrity management costs in compliance with federal regulations.
Nuclear deferral. Includes amounts related to nuclear plant outage and refueling costs, which are deferred and recovered over the nuclear fuel cycle.
COR settlement. Represents approved COR settlements that are being amortized over the average remaining lives, at the time of approval, of the associated assets.
Decoupling. Relates primarily to margin and revenue decoupling.
Deferred coal ash handling system costs. Represents deferred depreciation and returns associated with capital assets related to converting the ash handling system from wet to dry.
Qualifying facility contract buyouts. Represents termination payments for regulatory recovery through the capacity clause.
Network Integration Transmission Services deferral. Represents a deferral of costs and return related transmission costs.
Transmission expansion obligation. Represents transmission expansion obligations related to Duke Energy Ohio's withdrawal from MISO.
East Bend deferrals. Represents amounts to be recovered for deferred costs and depreciation related to the East Bend station.
Propane Caverns. Represents amounts for costs related to propane inventory, the net book value of remaining assets and decommissioning costs at Duke Energy Ohio.
TN ARM Deferral. Represents amounts to be recovered for uncollected revenue for 2022 and deferred depreciation and carrying costs on the portion of capital expenditures placed in service but not yet reflected in rates.
Net regulatory liability related to income taxes. Amounts for all registrants include regulatory liabilities related primarily to impacts from the Tax Act. See Note 24 for additional information. Amounts have no immediate impact on rate base as regulatory assets are offset by deferred tax liabilities.
COR regulatory liability. Represents funds received from customers to cover the future removal of property, plant and equipment from retired or abandoned sites as property is retired. Also includes certain deferred gains on NDTF investments.
DOE Settlement. Represents litigation settlement funds received resulting from the DOE’s failure to accept spent nuclear fuel and other radioactive waste from the Crystal River Unit 3 during 2014-2018 as required under the Nuclear Waste Policy Act.
Provision for rate refunds. Represents estimated amounts due to customers based on recording interim rates subject to refund.
RESTRICTIONS ON THE ABILITY OF CERTAIN SUBSIDIARIES TO MAKE DIVIDENDS, ADVANCES AND LOANS TO DUKE ENERGY
As a condition to the approval of merger transactions, the NCUC, PSCSC, PUCO, KPSC and IURC imposed conditions on the ability of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio, Duke Energy Kentucky, Duke Energy Indiana and Piedmont to transfer funds to Duke Energy through loans or advances, as well as restricted amounts available to pay dividends to Duke Energy. Certain subsidiaries may transfer funds to the Parent by obtaining approval of the respective state regulatory commissions. These conditions imposed restrictions on the ability of the public utility subsidiaries to pay cash dividends as discussed below.
Duke Energy Progress and Duke Energy Florida also have restrictions imposed by their first mortgage bond indentures, which in certain circumstances, limit their ability to make cash dividends or distributions on common stock. Amounts restricted as a result of these provisions were not material at December 31, 2023.
Additionally, certain other subsidiaries of Duke Energy have restrictions on their ability to dividend, loan or advance funds to Duke Energy due to specific legal or regulatory restrictions, including, but not limited to, minimum working capital and tangible net worth requirements.
The restrictions discussed below were not a material amount of Duke Energy's and Progress Energy's net assets at December 31, 2023.
Duke Energy Carolinas
Duke Energy Carolinas must limit cumulative distributions subsequent to mergers to (i) the amount of retained earnings on the day prior to the closing of the mergers, plus (ii) any future earnings recorded.
Duke Energy Progress
Duke Energy Progress must limit cumulative distributions subsequent to the mergers between Duke Energy and Progress Energy and Duke Energy and Piedmont to (i) the amount of retained earnings on the day prior to the closing of the respective mergers, plus (ii) any future earnings recorded.
Duke Energy Ohio
Duke Energy Ohio will not declare and pay dividends out of capital or unearned surplus without the prior authorization of the PUCO. Duke Energy Ohio received FERC and PUCO approval to pay dividends from its equity accounts that are reflective of the amount that it would have in its retained earnings account had push-down accounting for the Cinergy merger not been applied to Duke Energy Ohio’s balance sheet. The conditions include a commitment from Duke Energy Ohio that equity, adjusted to remove the impacts of push-down accounting, will not fall below 30% of total capital.
Duke Energy Kentucky is required to pay dividends solely out of retained earnings and to maintain a minimum of 35% equity in its capital structure.
Duke Energy Indiana
Duke Energy Indiana must limit cumulative distributions subsequent to the merger between Duke Energy and Cinergy to (i) the amount of retained earnings on the day prior to the closing of the merger, plus (ii) any future earnings recorded. In addition, Duke Energy Indiana will not declare and pay dividends out of capital or unearned surplus without prior authorization of the IURC.
Piedmont
Piedmont must limit cumulative distributions subsequent to the acquisition of Piedmont by Duke Energy to (i) the amount of retained earnings on the day prior to the closing of the merger, plus (ii) any future earnings recorded.
RATE-RELATED INFORMATION
The NCUC, PSCSC, FPSC, IURC, PUCO, TPUC and KPSC approve rates for retail electric and natural gas services within their states. The FERC approves rates for electric sales to wholesale customers served under cost-based rates (excluding Ohio and Indiana), as well as sales of transmission service. The FERC also regulates certification and siting of new interstate natural gas pipeline projects.
Duke Energy Carolinas and Duke Energy Progress
Hurricane Ian
In late September and early October 2022, Hurricane Ian inflicted severe damage to the Duke Energy Carolinas and Duke Energy Progress territories in North Carolina and South Carolina. Approximately 950,000 customers were impacted. As of December 31, 2023, total estimated operation and maintenance expenses incurred for restoration efforts were approximately $95 million, with an additional $8 million in capital investments. Approximately $87 million of the operation and maintenance expenses are deferred in Regulatory assets within Other Noncurrent Assets on the Consolidated Balance Sheets as of December 31, 2023 ($32 million and $55 million for Duke Energy Carolinas and Duke Energy Progress, respectively), Duke Energy Carolinas and Duke Energy Progress have regulatory tools to recover storm costs including deferral and securitization. These estimates could change as Duke Energy Carolinas and Duke Energy Progress receive additional information on actual costs.
Duke Energy Carolinas
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,559 $1,391 (g)(b)
Deferred fuel and purchased power(i)
1,293 1,614 (e)2025
Accrued pension and OPEB
671 614 (h)
Storm cost securitized balance, net
208 220 Yes2041
Hedge costs deferrals
405 228 (b)
Storm cost deferrals
97 114 Yes(b)
PISCC and deferred operating expenses
48 47 Yes(b)
Retired generation facilities(c)
26 39 Yes(b)
Deferred asset – Lee COLA
237 267 (b)
Customer connect project(c)
58 62 Yes(b)
AMI(c)
125 139 Yes(b)
Incremental COVID-19 expenses
152 127 Yes(b)
Vacation accrual
87 84 2024
Grid Deferral(c)
159 96 Yes(b)
Nuclear deferral
89 90 2025
COR settlement(c)
85 88 Yes(b)
Deferred coal ash handling system costs(c)
65 67 Yes(b)
Other116 101 (b)
Total regulatory assets5,480 5,388 
Less: Current portion
1,564 1,095 
Total noncurrent regulatory assets$3,916 $4,293 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)
$2,200 $2,475 Yes(b)
COR regulatory liability(c)
1,641 1,769 Yes(f)
AROs – nuclear and other
1,673 1,038 (b)
Hedge cost deferrals
158 350 (b)
Accrued pension and OPEB
106 44 (h)
Deferred fuel and purchased power(i)
85 — (e)2025
DSM/EE(c)
87 86 Yes(j)
Provision for rate refunds(c)
11 50 Yes(b)
Other 616 501 (b)
Total regulatory liabilities6,577 6,313 
Less: Current portion
587 530 
Total noncurrent regulatory liabilities$5,990 $5,783 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)     Included in rate base.
(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    Recovered over the life of the associated assets.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(i)    Duke Energy Carolinas submitted a fuel filing to the NCUC in February 2023 for recovery of $998 million, which included deferrals through December 2022. The NCUC approved recovery of this balance through December 2024. The next filing will be made in the first quarter of 2024. Duke Energy Carolinas submitted a fuel filing to the PSCSC in August 2023 for recovery of $310 million, which included deferrals through May 2023. The PSCSC approved recovery of this balance through October 2024. The next filing will be made in the third quarter of 2024.
(j)    Includes incentives on DSM/EE investments and is recovered or refunded through an annual rider mechanism.
2023 North Carolina Rate Case
On January 19, 2023, Duke Energy Carolinas filed a PBR application with the NCUC to request an increase in base rate retail revenues. The PBR Application included an MYRP to recover projected capital investments during the three-year MYRP period. In addition to the MYRP, the PBR Application included an Earnings Sharing Mechanism, Residential Decoupling Mechanism and Performance Incentive Mechanisms (PIMS) as required by HB 951. The application as originally filed requested an overall retail revenue increase of $501 million in Year 1, $172 million in Year 2 and $150 million in Year 3, for a combined total of $823 million or 15.7% by early 2026. The rate increase is driven primarily by transmission and distribution investments since the last rate case and projected in the MYRP, as well as investments in energy storage and solar assets included in the MYRP consistent with the Carbon Plan.
On August 22, 2023, Duke Energy Carolinas filed with the NCUC a partial settlement with the Public Staff in connection with its PBR application. The partial settlement included, among other things, agreement on a substantial portion of the North Carolina retail rate base for the historic base case of approximately $19.5 billion and all of the capital projects and related costs to be included in the three-year MYRP, including $4.6 billion (North Carolina retail allocation) projected to go in service over the MYRP period. Additionally, the partial settlement included agreement, with certain adjustments, on depreciation rates, the recovery of grid improvement plan costs and PIMs, Tracking Metrics and the Residential Decoupling Mechanism under the PBR application. On August 28, 2023, Duke Energy Carolinas filed with the NCUC a second partial settlement with the Public Staff resolving additional issues, including the future treatment of nuclear production tax credits related to the Inflation Reduction Act, through a stand-alone rider that will provide the benefits to customers beginning January 1, 2025.
On December 15, 2023, the NCUC issued an order approving Duke Energy Carolinas' PBR Application, as modified by the partial settlements and the order, including an overall retail revenue increase of $436 million in Year 1, $174 million in Year 2 and $158 million in Year 3, for a combined total of $768 million. The order established an ROE of 10.1% based upon a capital structure of 53% equity and 47% debt and approved, with certain adjustments, depreciation rates and the recovery of grid improvement plan costs and certain deferred COVID-related costs. Additionally, the Residential Decoupling Mechanism and PIMs were approved as requested under the PBR Application and revised by the partial settlements. As a result of the partial settlements and the order, Duke Energy Carolinas recognized pretax charges of $29 million within Impairment of assets and other charges, and $8 million within Operations, maintenance and other, for the year ended December 31, 2023, on the Consolidated Statements of Operations. Duke Energy Carolinas implemented interim rates, subject to refund, on September 1, 2023. New revised Year 1 rates and the residential decoupling were implemented on January 15, 2024. On February 13, 2024, a number of parties filed Notices of Appeal of the December 15, 2023 NCUC order. Appeals were filed by the Carolina Industrial Group for Fair Utility Rates (CIGFUR) III, a collection of various electric membership corporations (collectively, the EMCs), and the North Carolina Attorney General’s Office (the AGO). CIGFUR III and the EMCs appealed the interclass subsidy reduction percentage and the Transmission Cost Allocation stipulation. In addition, CIGFUR III appealed the NCUC’s elimination of the equal percentage fuel cost allocation methodology. The AGO appealed several issues including the authorized ROE and certain rate design and accounting matters. Duke Energy Carolinas cannot predict the outcome of this matter.
2024 South Carolina Rate Case
On January 4, 2024, Duke Energy Carolinas filed a rate case with the PSCSC to request an average effective net increase in annual retail revenues of 11.4%, or approximately $239 million, in the first two years, and an additional overall effective increase of about 4.1%, or approximately $84 million additional revenue, after the first two years. The requested increases, if approved, would result in an overall average 15.5% increase in annual retail revenues, or approximately $323 million, prior to mitigation efforts. To mitigate the rate increase, Duke Energy Carolinas has proposed to accelerate the return of remaining federal unprotected EDIT balances to customers over two years. This offset reduces the impact to customers in the first two years to the effective net increase of 11.4%, after which the credit for EDIT balances expire. Duke Energy Carolinas has requested the revised rates to be effective no later than August 1, 2024. The evidentiary hearing is scheduled to commence on May 20, 2024. Duke Energy Carolinas cannot predict the outcome of this matter.
Duke Energy Progress
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,218 $1,418 (g)(b)
AROs – nuclear and other
1,110 869 (c)
Deferred fuel and purchased power(l)
579 705 (e)2025
Accrued pension and OPEB
408 417 (j)
Storm cost securitized balance, net
682 720 Yes2041
Hedge costs deferrals
260 55 (b)
Storm cost deferrals
228 234 Yes(b)
PISCC and deferred operating expenses
42 42 Yes2054
Retired generation facilities(d)
126 149 Yes(b)
Deferred asset – Harris COLA
15 21 (b)
Customer connect project(d)
49 54 Yes(b)
AMI(d)
68 81 Yes(b)
Incremental COVID-19 expenses
80 78 (b)
Vacation accrual
43 43 2024
Grid Deferral(d)
51 40 Yes(b)
DSM/EE(d)
182 180 Yes(h)
NCEMPA deferrals(d)
172 157 (f)2042
Nuclear deferral
42 64 2025
COR settlement(d)
30 32 Yes(b)
Decoupling
15 — Yes(b)
Deferred coal ash handling system costs(d)
21 25 Yes(b)
Other67 30 (b)
Total regulatory assets5,488 5,414 
Less: Current portion
942 690 
Total noncurrent regulatory assets$4,546 $4,724 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(k)
$1,420 $1,559 Yes(b)
COR regulatory liability
2,805 2,269 (i)
Hedge cost deferrals
87 252 (b)
Deferred fuel and purchased power(l)
14 — (e)2025
Provision for rate refunds(d)
4 28 Yes(b)
Other 345 344 (b)
Total regulatory liabilities4,675 4,452 
Less: Current portion
300 332 
Total noncurrent regulatory liabilities$4,375 $4,120 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit.
(d)    Included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    South Carolina retail allocated costs are earning a return.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism.
(i)    Recovered over the life of the associated assets.
(j)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(k)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
(l)    Duke Energy Progress submitted a fuel filing to the NCUC in June 2023 for recovery of $445 million, which included deferrals through March 2023. The NCUC approved recovery of this balance through November 2024. The next filing will be made in the second quarter of 2024. Duke Energy Progress submitted a fuel filing to the PSCSC in May 2023 for recovery of $79 million, which included deferrals through February 2023. The PSCSC approved recovery of this balance through July 2024. The next filing will be made in the second quarter of 2024.
2022 North Carolina Rate Case
On October 6, 2022, Duke Energy Progress filed a PBR application with the NCUC to request an increase in base rate retail revenues. The rate request before the NCUC included an MYRP to recover projected capital investments during the three-year MYRP period. In addition to the MYRP, the PBR Application included an Earnings Sharing Mechanism, Residential Decoupling Mechanism and PIMS as required by HB 951. The overall retail revenue increase as originally filed would have been $326 million in Year 1, $151 million in Year 2 and $138 million in Year 3, for a combined total of $615 million, by late 2025. The rate increase is driven primarily by transmission and distribution investments since the last rate case and projected in the MYRP, as well as investments in energy storage and solar assets included in the MYRP consistent with the Carbon Plan.
On April 26, 2023, Duke Energy Progress filed with the NCUC a partial settlement with Public Staff, which included agreement on many aspects of Duke Energy Progress' three-year MYRP proposal. In May 2023, CIGFUR II joined this partial settlement and Public Staff and CIGFUR II filed a separate settlement reaching agreement on PIMs, Tracking Metrics and the Residential Decoupling Mechanism under the PBR application.
On August 18, 2023, the NCUC issued an order approving Duke Energy Progress' PBR Application, as modified by the partial settlements and the order, including an overall retail revenue increase of $233 million in Year 1, $126 million in Year 2 and $135 million in Year 3, for a combined total of $494 million. Key aspects of the order include the approval of North Carolina retail rate base for the historic base case of approximately $12.2 billion and capital projects and related costs to be included in the three-year MYRP, including $3.5 billion (North Carolina retail allocation) projected to go in service over the MYRP period. The order established an ROE of 9.8% based upon a capital structure of 53% equity and 47% debt and approved, with certain adjustments, depreciation rates and the recovery of grid improvement plan costs and certain deferred COVID-related costs. Additionally, the Residential Decoupling Mechanism and PIMs were approved as requested under the PBR Application and revised by the partial settlements. As a result of the order, Duke Energy Progress recognized pretax charges of $28 million within Impairment of assets and other charges, which primarily related to certain COVID-19 deferred costs, and $8 million within Operations, maintenance and other, for the year ended December 31, 2023, on the Consolidated Statements of Operations. Duke Energy Progress implemented interim rates, subject to refund, on June 1, 2023, and implemented revised Year 1 rates and the residential decoupling on October 1, 2023.
On October 17, 2023, CIGFUR II and Haywood Electric Membership Corporation each filed a Notice of Appeal and Exceptions to the Supreme Court of North Carolina. Both parties were appealing certain matters that do not impact the overall revenue requirement in the rate case. Specifically, they appealed the interclass subsidy reduction percentage, and CIGFUR II also appealed the Customer Assistance Program and the equal percentage fuel cost allocation methodology. On November 6, 2023, the AGO filed a Notice of Cross Appeal of the NCUC’s determination regarding the exclusion of electric vehicle revenue from the residential decoupling mechanism. On November 9, 2023, Duke Energy Progress, the Public Staff, CIGFUR II, and a number of other parties reached a settlement pursuant to which CIGFUR II agreed not to pursue its appeal of the Customer Assistance Program. Duke Energy Progress cannot predict the outcome of this matter.
2023 South Carolina Storm Securitization
On May 31, 2023, Duke Energy Progress filed a petition with the PSCSC requesting authorization for the financing of Duke Energy Progress' storm recovery costs in the amount of approximately $171 million, through securitization, due to storm recovery activities required as a result of the following storms: Pax, Ulysses, Matthew, Florence, Michael, Dorian, Izzy and Jasper. On September 8, 2023, Duke Energy Progress filed a comprehensive settlement agreement with all parties on all cost recovery issues raised in the storm securitization proceeding.
The evidentiary hearing occurred in early September 2023. On September 20, 2023, the PSCSC approved the comprehensive settlement agreement and on October 13, 2023, the PSCSC issued its financing order. Duke Energy Progress will proceed with structuring, marketing and pricing the storm recovery bonds and then seek PSCSC authorization to issue the bonds in the first half of 2024. Duke Energy Progress cannot predict the outcome of this matter.
2022 South Carolina Rate Case
On September 1, 2022, Duke Energy Progress filed an application with the PSCSC to request an increase in base rate retail revenues. On January 12, 2023, Duke Energy Progress and the ORS, as well as other consumer, environmental, and industrial intervening parties, filed a comprehensive Agreement and Stipulation of Settlement resolving all issues in the base rate proceeding. The major components of the stipulation include:
•A $52 million annual customer rate increase prior to the reduction from the accelerated return to customers of federal unprotected Property, Plant and Equipment related EDIT. After extending the remaining EDIT giveback to customers to 33 months, the net annual retail rate increase is approximately $36 million.
•ROE of 9.6% based upon a capital structure of 52.43% equity and 47.57% debt.
•Continuation of deferral treatment of coal ash basin closure costs. Supports an amortization period for remaining coal ash closure costs in this rate case of seven years. Duke Energy Progress agreed not to seek recovery of approximately $50 million of deferred coal ash expenditures related to retired sites in this rate case (South Carolina retail allocation).
•Accepts the 2021 Depreciation Study as proposed in this case, as adjusted for certain recommendations from ORS and includes accelerated retirement dates for certain coal units as originally proposed.
•Establishment of a storm reserve to help offset the costs of major storms.
The PSCSC held a hearing on January 17, 2023, to consider evidence supporting the stipulation and unanimously voted to approve the comprehensive agreement on February 9, 2023. A final written order was issued on March 8, 2023. New rates went into effect April 1, 2023.
Duke Energy Florida
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$12 $11 (b)
AROs – nuclear and other
17 15 (b)
Deferred fuel and purchased power(g)
594 1,355 (e)2024
Accrued pension and OPEB(c)
349 342 Yes(f)
Nuclear asset securitized balance, net
830 881 2036
Hedge costs deferrals(c)
63 73 Yes2038
Storm cost deferrals(c)
70 325 (e)(b)
COR regulatory asset
337 221 (d)(b)
Retired generation facilities(c)
94 94 Yes2044
Customer connect project(c)
76 82 Yes2037
AMI(c)
24 30 Yes2032
Qualifying facility contract buyouts(c)
68 81 Yes2034
Other69 55 (d)(b)
Total regulatory assets2,603 3,565 
Less: Current portion
720 1,143 
Total noncurrent regulatory assets$1,883 $2,422 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(c)
$588 $633 (b)
Hedge cost deferrals
121 — (b)
DOE Settlement
32 154 2024
Other 85 90 (d)(b)
Total regulatory liabilities826 877 
Less: Current portion
118 244 
Total noncurrent regulatory liabilities$708 $633 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Certain costs earn/pay a return.
(e)    Earns commercial paper rate.
(f)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(g)    On March 6, 2023, the FPSC approved Duke Energy Florida's amended February 2023 fuel filing recovery of $469 million, which included the 2022 actual under-recovery of $1.2 billion, offset by projected declining fuel costs in 2023 due to lower natural gas prices. The approved 21-month recovery period for the actual 2022 under-recovery is April 2023 through December 2024; the reduction in 2023 fuel costs were approved to be returned over 9-months from April 2023 through December 2023. Duke Energy Florida made its most recent fuel filing in September 2023. On November 1, 2023, the FPSC approved Duke Energy Florida's September 2023 fuel filing, which included the proposed fuel factors for 2024. In addition to the under-recoveries approved above, that filing also included a re-projected 2023 over-recovery of approximately $120 million that will be returned to customers January 2024 through December 2024.
2021 Settlement Agreement
On January 14, 2021, Duke Energy Florida filed the 2021 Settlement with the FPSC. The parties to the 2021 Settlement include Duke Energy Florida, the Office of Public Counsel (OPC), the Florida Industrial Power Users Group, White Springs Agricultural Chemicals, Inc. d/b/a PCS Phosphate and NUCOR Steel Florida, Inc. (collectively, the Parties).
Pursuant to the 2021 Settlement, the Parties agreed to a base rate stay-out provision that expires year-end 2024; however, Duke Energy Florida is allowed an increase to its base rates of an incremental $67 million in 2022, $49 million in 2023 and $79 million in 2024, subject to adjustment in the event of tax reform during the years 2021, 2022 and 2023. The Parties also agreed to an ROE band of 8.85% to 10.85% with a midpoint of 9.85% based on a capital structure of 53% equity and 47% debt. The ROE band can be increased by 25 basis points if the average 30-year U.S. Treasury rate increases 50 basis points or more over a six-month period in which case the midpoint ROE would rise from 9.85% to 10.10%. On July 25, 2022, this provision was triggered. Duke Energy Florida filed a petition with the FPSC on August 12, 2022, to increase the ROE effective August 2022 with a base rate increase effective January 1, 2023. The FPSC approved this request on October 4, 2022. The 2021 Settlement also provided that Duke Energy Florida will be able to retain $173 million of the expected DOE award from its lawsuit to recover spent nuclear fuel to mitigate customer rates over the term of the 2021 Settlement. In return, Duke Energy Florida is permitted to recognize the $173 million into earnings through the approved settlement period. Duke Energy Florida settled the DOE lawsuit and received payment of approximately $180 million on June 15, 2022, of which the retail portion was approximately $154 million. The 2021 Settlement authorizes Duke Energy Florida to collect the difference between $173 million and the $154 million retail portion of the amount received through the capacity cost recovery clause. As of December 31, 2023, Duke Energy Florida has recognized $141 million into earnings. The remaining $32 million is expected to be recognized in 2024, while also remaining within the approved return on equity band.
The 2021 Settlement also contained a provision to recover or flow-back the effects of tax law changes. As a result of the IRA enacted on August 16, 2022, Duke Energy Florida is eligible for PTCs associated with solar facilities placed in service beginning in January 2022. Duke Energy Florida filed a petition with the FPSC on October 17, 2022, to reduce base rates effective January 1, 2023, by $56 million to flow back the expected 2023 PTCs and to flow back the expected 2022 PTCs via an adjustment to the capacity cost recovery clause. On December 14, 2022, the FPSC issued an order approving Duke Energy Florida’s petition. See Note 24 for additional information on the IRA.
In addition to these terms, the 2021 Settlement contained provisions related to the accelerated depreciation of Crystal River Units 4-5, the approval of approximately $1 billion in future investments in new cost-effective solar power, the implementation of a new Electric Vehicle Charging Station Program and the deferral and recovery of costs in connection with the implementation of Duke Energy Florida’s Vision Florida program, which explores various emerging non-carbon emitting generation technology, distributed technologies and resiliency projects, among other things. The 2021 Settlement also resolved remaining unrecovered storm costs for Hurricane Michael and Hurricane Dorian.
The FPSC approved the 2021 Settlement on May 4, 2021, issuing an order on June 4, 2021. Revised customer rates became effective January 1, 2022, with subsequent base rate increases effective January 1, 2023, and January 1, 2024.
Clean Energy Connection
On July 1, 2020, Duke Energy Florida petitioned the FPSC for approval of a voluntary solar program consisting of 10 new solar generating facilities with combined capacity of approximately 750 MW. The program allows participants to support cost-effective solar development in Florida by paying a subscription fee based on per kilowatt subscriptions and receiving a credit on their bill based on the actual generation associated with their portion of the solar portfolio. The estimated cost of the 10 new solar generation facilities is approximately $1 billion and the projects are expected to be completed by the end of 2024. This investment will be included in base rates offset by the revenue from the subscription fees and the credits will be included for recovery in the fuel cost recovery clause. The FPSC approved the program in January 2021.
On February 24, 2021, the League of United Latin American Citizens (LULAC) filed a notice of appeal of the FPSC’s order approving the Clean Energy Connection to the Supreme Court of Florida. The Supreme Court of Florida heard oral arguments in the appeal on February 9, 2022. On May 27, 2022, the Supreme Court of Florida issued an order remanding the case back to the FPSC so that the FPSC can amend its order to better address some of the arguments raised by LULAC. On September 23, 2022, the FPSC issued a revised order and submitted it on September 26, 2022, to the Supreme Court of Florida. The Supreme Court of Florida requested that the parties file supplemental briefs regarding the revised order, which were filed February 6, 2023. LULAC has filed a request for Oral Argument on the issues discussed in the supplemental briefs, but the Court has yet to rule on that request. The FPSC approval order remains in effect pending the outcome of the appeal. Duke Energy Florida cannot predict the outcome of this matter.
Storm Protection Plan
On April 11, 2022, Duke Energy Florida filed a Storm Protection Plan for approval with the FPSC. The plan, which covers investments for the 2023-2032 time frame, reflects approximately $7 billion of capital investment in transmission and distribution meant to strengthen its infrastructure, reduce outage times associated with extreme weather events, reduce restoration costs and improve overall service reliability. The evidentiary hearing began on August 2, 2022. On October 4, 2022, the FPSC voted to approve Duke Energy Florida's plan with one modification to remove the transmission loop radially fed program, representing a reduction of approximately $80 million over the 10-year period starting in 2025. On December 9, 2022, the OPC filed a notice of appeal of this order to the Florida Supreme Court. The OPC's initial brief was filed on April 18, 2023. Duke Energy Florida filed its answer brief on July 17, 2023. The OPC's reply brief was filed on October 16, 2023. The Florida Supreme Court heard oral arguments on February 7, 2024. Duke Energy Florida cannot predict the outcome of this matter.
Hurricanes Ian and Idalia
On September 28, 2022, much of Duke Energy Florida’s service territory was impacted by Hurricane Ian, which caused significant damage resulting in more than 1.1 million outages. Duke Energy Florida's Consolidated Balance Sheets included an estimate of approximately $353 million as of December 31, 2022, related to deferred Hurricane Ian storm costs, consistent with the FPSC's storm rule, in Regulatory assets within Other Noncurrent Assets. After depleting any existing storm reserves, which were approximately $107 million before Hurricane Ian, Duke Energy Florida is permitted to petition the FPSC for recovery of additional incremental operation and maintenance costs resulting from the storm and to replenish the retail customer storm reserve to approximately $132 million. Duke Energy Florida filed its petition for cost recovery of various storms, including Hurricane Ian, and replenishment of the storm reserve on January 23, 2023, seeking recovery of $442 million, for recovery over 12 months beginning with the first billing cycle in April 2023. On March 7, 2023, the FPSC approved this request for interim recovery, subject to refund, and ordered Duke Energy Florida to file documentation of the total actual storm costs, once known. Duke Energy Florida filed documentation evidencing its total actual storm costs of $431 million on September 29, 2023. The FPSC will hold a final hearing to determine the prudence of these costs in May of 2024.
On August 30, 2023, Hurricane Idalia made landfall on Florida’s gulf coast, causing damage and impacting more than 200,000 customers across Duke Energy Florida's service territory. Duke Energy Florida's December 31, 2023, Consolidated Balance Sheets includes an estimate of approximately $102 million in Regulatory Assets within Current Assets related to deferred Hurricane Idalia storm costs consistent with the FPSC's storm rule. On October 16, 2023, Duke Energy Florida requested to combine the $92 million retail portion of the deferred estimated Hurricane Idalia costs with $74 million of costs projected to be collected after December 31, 2023, under the existing approved storm cost recovery and storm surcharge. This $74 million of costs relates primarily to the approved ongoing replenishment of the storm reserves. At its December 5, 2023 Agenda Conference, the FPSC approved recovery of the total $166 million over 12 months beginning with its first billing cycle in January 2024, replacing the previously approved storm cost recovery and storm surcharge, and ordered Duke Energy Florida to file documentation of the total actual Idalia related storm costs, once known. Revised rates were effective January 1, 2024. Duke Energy Florida cannot predict the outcome of these matters.
2024 Florida Rate Case
In January 2024, Duke Energy Florida notified the FPSC that it expects to file a formal request for new base rates in April 2024. Duke Energy Florida intends to propose a three-year rate plan that would begin in January 2025, once its current base rate settlement agreement concludes at the end of 2024. Duke Energy Florida will propose multiyear rate increases that use the projected 12-month periods ending December 31, 2025, 2026, and 2027 as the test years, with adjusted rates to be effective with the first billing period of January 2025, 2026, and 2027, respectively. Duke Energy Florida expects to request additional base rate revenue requirements of approximately $596 million in 2025, $95 million in 2026 and $127 million in 2027, representing an average annual increase in revenue requirements of approximately 4% over 2025 through 2027.
Duke Energy Ohio
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$17 $— Yes(b)
Deferred fuel and purchased gas costs
20 54 2024
Accrued pension and OPEB
123 129 (e)
Storm cost deferrals
12 14 2024
COR regulatory asset
34 — (b)
PISCC and deferred operating expenses(c)
15 15 Yes2083
Customer connect project
49 54 (b)
AMI
13 18 (b)
CEP deferral
193 190 Yes(b)
Deferred pipeline integrity costs
30 28 Yes(b)
Decoupling
25 — (b)
Network Integration Transmission Services deferral
31 23 Yes(b)
Transmission expansion obligation
30 31 (b)
East Bend deferrals(c)
28 33 Yes(b)
Propane caverns
26 26 (b)
Other103 69 (b)
Total regulatory assets749 684 
Less: Current portion
73 103 
Total noncurrent regulatory assets$676 $581 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$466 $496 (b)
COR regulatory liability
— 9 (d)
Accrued pension and OPEB
17 21 (e)
Deferred fuel and purchased gas costs
15 35 2024
Other 55 72 (b)
Total regulatory liabilities553 633 
Less: Current portion
56 99 
Total noncurrent regulatory liabilities$497 $534 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovery over the life of the associated assets.
(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Duke Energy Ohio Electric Base Rate Case
Duke Energy Ohio filed with the PUCO an electric distribution base rate case application on October 1, 2021, with supporting testimony filed on October 15, 2021, requesting an increase in electric distribution base rates of approximately $55 million. On September 19, 2022, Duke Energy Ohio filed a Stipulation and Recommendation with the PUCO, which included an increase in overall electric distribution base rates of approximately $23 million with an equity ratio of 50.5% and an ROE of 9.5%. The stipulation was among all but one party to the proceeding. The PUCO issued an order on December 14, 2022, approving the Stipulation without modification. Rates went into effect on January 3, 2023. The Ohio Consumers' Counsel (OCC) filed an application for rehearing on January 13, 2023, arguing the Stipulation was unreasonable, discriminatory and denied OCC due process. On February 8, 2023, the Commission granted the OCC's application for rehearing for further consideration. Duke Energy Ohio cannot predict the outcome of this matter.
Energy Efficiency Cost Recovery
In response to changes in Ohio law that eliminated Ohio's energy efficiency mandates, the PUCO issued an order on February 26, 2020, directing utilities to wind down their demand-side management programs by September 30, 2020, and to terminate the programs by December 31, 2020.
•On March 27, 2020, Duke Energy Ohio filed an application for rehearing seeking clarification on the final true up and reconciliation process after 2020.
•Effective January 1, 2021, Duke Energy Ohio suspended its energy efficiency programs.
On August 9, 2023, the PUCO issued its decision approving the Company’s request for recovery and final true up of energy efficiency program costs, lost distribution revenues and performance incentives from calendar years 2018 through 2020, resulting in $14 million of Regulated electric revenue on the Consolidated Statements of Operations for the year ended December 31, 2023, and resolving all outstanding issues in these proceedings. Revised rates were effective September 1, 2023.
Duke Energy Ohio Natural Gas Base Rate Case
Duke Energy Ohio filed with the PUCO a natural gas base rate case application on June 30, 2022, with supporting testimony filed on July 14, 2022, requesting an increase in natural gas base rates of approximately $49 million. The drivers for this case are capital invested since Duke Energy Ohio's last natural gas base rate case in 2012. Duke Energy Ohio also sought to adjust the caps on its CEP Rider. On April 28, 2023, Duke Energy Ohio filed a stipulation with all parties to the case except the OCC. In the stipulation, the parties agreed to approximately $32 million in revenue increases with an equity ratio of 52.32% and an ROE of 9.6%, and adjustments to the CEP Rider caps. The stipulation was opposed by the OCC at an evidentiary hearing that concluded on May 24, 2023. On November 1, 2023, PUCO issued an order approving the stipulation as filed. New rates went into effect November 1, 2023. On December 1, 2023, the OCC filed an application for rehearing. On December 13, 2023, the PUCO granted OCC's application for rehearing for further consideration of issues raised. Duke Energy Ohio cannot predict the outcome of this matter.
MGP Cost Recovery
In an order issued in 2013, the PUCO approved Duke Energy Ohio's deferral and recovery of costs related to environmental remediation at two sites (East End and West End) that housed former MGP operations. Duke Energy Ohio made annual applications with the PUCO to recover its incremental remediation costs consistent with the PUCO’s directive in Duke Energy Ohio’s 2012 natural gas base rate case.
A Stipulation and Recommendation was filed jointly by Duke Energy Ohio, the Staff, the Office of the Ohio Consumers' Counsel and the Ohio Energy Group on August 31, 2021, which was approved without modification by the PUCO on April 20, 2022. The Stipulation and Recommendation resolved all open issues regarding MGP remediation costs incurred between 2013 and 2019, Duke Energy Ohio’s request for additional deferral authority beyond 2019 and the pending issues related to the Tax Act described below as it related to Duke Energy Ohio’s natural gas operations. As a result of the approval of the Stipulation and Recommendation, Duke Energy Ohio recognized pretax charges of approximately $15 million to Operating revenues, regulated natural gas and $58 million to Operation, maintenance and other and a tax benefit of $72 million to Income Tax (Benefit) Expense in the Consolidated Statements of Operations for the year ended December 31, 2022. The Stipulation and Recommendation further acknowledged Duke Energy Ohio’s ability to file a request for additional deferral authority in the future related to environmental remediation of any MGP impacts in the Ohio River, if necessary, subject to specific conditions. On June 15, 2022, the PUCO granted the rehearing requests of Interstate Gas Supply, Inc. (IGS) and The Retail Energy Supply Association (RESA), which were filed on May 20, 2022, for further consideration. Duke Energy Ohio cannot predict the outcome of this matter.
Tax Act – Ohio
On December 21, 2018, Duke Energy Ohio filed an application to change its base rate tariffs and establish a rider to implement the benefits of the Tax Act for natural gas customers. The rider would flow through to customers the benefit of the reduction in the statutory federal tax rate from 35% to 21% since January 1, 2018, all future benefits of the lower tax rates and a full refund of deferred income taxes collected at the higher tax rates in prior years. Deferred income taxes subject to normalization rules would be refunded consistent with federal law and deferred income taxes not subject to normalization rules will be refunded over a 10-year period. An evidentiary hearing occurred on August 7, 2019. The Stipulation and Recommendation filed on August 31, 2021, and approved on April 20, 2022, disclosed in the MGP Cost Recovery matter above, resolved the outstanding issues in this proceeding by providing customers a one-time bill credit for the reduction in the statutory federal tax rate from 35% to 21% since January 1, 2018, through June 1, 2022, and reducing base rates going forward. Deferred income taxes not subject to normalization rules were written off. Deferred income taxes subject to normalization rules are refunded consistent with federal law through a rider. The commission granted the rehearing requests of IGS and RESA for further consideration. Duke Energy Ohio cannot predict the outcome of this matter.
Midwest Propane Caverns
Duke Energy Ohio used propane stored in caverns to meet peak demand during winter for several decades. Once the Central Corridor Project was complete and placed in service, the propane peaking facilities were no longer necessary and were retired. On October 7, 2021, Duke Energy Ohio requested deferral treatment of the property, plant and equipment as well as costs related to propane inventory and decommissioning costs. On January 6, 2022, the Staff issued a report recommending deferral authority for costs related to propane inventory and decommissioning costs, but not for the net book value of the remaining plant assets. As a result of the Staff's report, Duke Energy Ohio recorded a $19 million charge to Impairment of assets and other charges on the Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2021. A Stipulation and Recommendation was filed jointly by Duke Energy Ohio and the Staff on April 27, 2022, recommending, among other things, approval of deferral treatment of a portion of the net book value of the property, plant and equipment prior to the 2021 impairment at the time of the next natural gas base rate case, excluding operations and maintenance savings, decommissioning costs not to exceed $7 million and costs related to propane inventory. The Stipulation and Recommendation states that Duke Energy Ohio will seek recovery of the deferral through its next natural gas base rate case proceeding with a proposed amortization period of at least 10 years and include an independent engineering study analyzing the necessity and prudency of the incremental investments made at the facilities since March 31, 2012. Duke Energy Ohio will not seek a return on the deferred amounts. An evidentiary hearing was held on September 8, 2022. On October 5, 2022, the PUCO issued an order approving the Stipulation and Recommendation as filed. As a result of the order, Duke Energy Ohio recorded a reversal of $12 million to Impairment of assets and other charges on the Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2022.
Duke Energy Kentucky Electric Base Rate Case
On December 1, 2022, Duke Energy Kentucky filed a rate case with the KPSC requesting an annualized increase in electric base rates of approximately $75 million. The request for rate increase was driven by capital investments to strengthen the electricity generation and delivery systems along with adjusted depreciation rates for the East Bend and Woodsdale generation stations to support the energy transition. Duke Energy Kentucky also requested new programs and tariff updates, including a voluntary community-based renewable subscription program and two electric vehicle charging programs. The KPSC issued an order on October 12, 2023, including a $48 million increase in base revenues, an ROE of 9.75% for electric base rates and 9.65% for electric riders and an equity ratio of 52.145%. New rates went into effect October 13, 2023. The Company's request to align the depreciation rates of East Bend with a 2035 retirement date was denied and the KPSC ordered depreciation rates with a 2041 retirement date for the unit. The KPSC did approve the request to align the depreciation rates of Woodsdale CT with a 2040 retirement date and denied the voluntary community-based renewable subscription program and the two electric vehicle charging programs.
On November 1, 2023, Duke Energy Kentucky filed for rehearing requesting certain matters be reconsidered by the KPSC. On November 21, 2023, KPSC granted in part and denied in part the Company's request for rehearing. On February 15, 2024, the KPSC issued a briefing schedule for the rehearing process. Simultaneous briefs are due on March 18, 2024, simultaneous reply briefs are due on April 1, 2024 and the matter shall stand submitted on April 2, 2024. On December 14, 2023, Duke Energy Kentucky filed an appeal with the Franklin County Circuit Court on certain matters for which the KPSC denied rehearing, specifically as it relates to including decommissioning costs in depreciation rates for East Bend and Woodsdale. On January 8, 2024, answers to the appeal were filed by the KPSC, Kentucky Attorney General, and the Kentucky Broadband & Cable Association. Duke Energy Kentucky cannot predict the outcome of this matter.
Duke Energy Indiana
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$408 $385 Yes(b)
Deferred fuel and purchased power
— 138 2024
Accrued pension and OPEB
208 214 (e)
Hedge costs deferrals
19 20 (b)
PISCC and deferred operating expenses(c)
252 255 Yes(b)
Retired generation facilities(c)
29 34 Yes2030
Customer connect project
19 19 (b)
AMI
13 15 2031
Other48 44 (b)
Total regulatory assets996 1,124 
Less: Current portion
102 249 
Total noncurrent regulatory assets$894 $875 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$794 $840 (b)
COR regulatory liability
496 531 (d)
Hedge cost deferrals
77 81 (b)
Accrued pension and OPEB
109 104 (e)
Deferred fuel and purchased power
23 — 2024
Other 169 85 (b)
Total regulatory liabilities1,668 1,641 
Less: Current portion
209 187 
Total noncurrent regulatory liabilities$1,459 $1,454 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Refunded over the life of the associated assets.
(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
2019 Indiana Rate Case
On July 2, 2019, Duke Energy Indiana filed a general rate case with the IURC for a rate increase for retail customers of approximately $395 million. The rebuttal case, filed on December 4, 2019, updated the requested revenue requirement to result in a 15.6% or $396 million average retail rate increase, including the impacts of the utility receipts tax. On June 29, 2020, the IURC issued an order in the rate case approving a revenue increase of $146 million before certain adjustments and ratemaking refinements. The order approved Duke Energy Indiana's requested forecasted rate base of $10.2 billion as of December 31, 2020, including the Edwardsport Integrated Gasification Combined Cycle (IGCC) Plant. The IURC reduced Duke Energy Indiana's request by slightly more than $200 million, when accounting for the utility receipts tax and other adjustments. Step one rates were estimated to be approximately 75% of the total rate increase and became effective on July 30, 2020. Step two rates estimated to be the remaining 25% of the total rate increase were approved on July 28, 2021, and implemented in August 2021.
Several groups appealed the IURC order to the Indiana Court of Appeals. The Indiana Court of Appeals affirmed the IURC decision on May 13, 2021. However, upon appeal by the Indiana Office of Utility Consumer Counselor (OUCC) and the Duke Industrial Group on March 10, 2022, the Indiana Supreme Court found that the IURC erred in allowing Duke Energy Indiana to recover coal ash costs incurred before the IURC’s rate case order in June 2020. The Indiana Supreme Court found that allowing Duke Energy Indiana to recover coal ash costs incurred between rate cases that exceeded the amount built into base rates violated the prohibition against retroactive ratemaking. The IURC’s order was remanded to the IURC for additional proceedings consistent with the Indiana Supreme Court’s opinion. As a result of the court's opinion, Duke Energy Indiana recognized pretax charges of approximately $211 million to Impairment of assets and other charges and $46 million to Operating revenues in the Consolidated Statements of Operations for the year ended December 31, 2022. Duke Energy Indiana filed a request for rehearing with the Supreme Court on April 11, 2022, which the court denied on May 26, 2022. Duke Energy Indiana filed its testimony in the remand proceeding on August 18, 2022. On February 3, 2023, Duke Energy Indiana filed a settlement agreement reached with the OUCC and Duke Industrial Group, which includes an agreed amount of approximately $70 million of refunds to be paid to customers. The IURC approved this settlement agreement in its entirety on April 12, 2023. In June of 2023, Duke Energy Indiana commenced refunding the approximate $70 million to customers in accordance with the settlement agreement.
Indiana Coal Ash Recovery
In Duke Energy Indiana’s 2019 rate case, the IURC also opened a subdocket for post-2018 coal ash related expenditures. Duke Energy Indiana filed testimony on April 15, 2020, in the coal ash subdocket requesting recovery for the post-2018 coal ash basin closure costs for plans that have been approved by IDEM as well as continuing deferral, with carrying costs, on the balance. On November 3, 2021, the IURC issued an order allowing recovery for post-2018 coal ash basin closure costs for the plans that have been approved by IDEM, as well as continuing deferral, with carrying costs, on the balance. The OUCC and the Duke Industrial Group appealed. The Indiana Court of Appeals issued its opinion on February 21, 2023, reversing the IURC's order to the extent that it allowed Duke Energy Indiana to recover federally mandated costs incurred prior to the IURC's November 3, 2021, order. In addition, the court found that any costs incurred pre-petition to determine federally mandated compliance options were not specifically authorized by the statute and should also be disallowed. As a result of the Indiana Court of Appeals' opinion, Duke Energy Indiana recognized a pretax charge of approximately $175 million to Impairment of assets and other charges for the year ended December 31, 2022.
In the second quarter of 2023, Duke Energy Indiana filed its proposal to remove from rates certain costs incurred prior to the IURC's November 3, 2021, order date. On September 20, 2023, the commission approved the Company's proposal to remove the costs from its rates and assessed simple interest of the refunds of 4.71%, beginning from when the costs were initially recovered from customers. Duke Energy Indiana filed a new petition under the amended version of the federal mandate statute for post-2018 coal ash closure costs for the remaining basins not included in the 2020 Indiana Coal Ash Recovery Case. An evidentiary hearing was held on January 25, 2024. Duke Energy Indiana cannot predict the outcome of this matter.
TDSIC 2.0
On November 23, 2021, Duke Energy Indiana filed for approval of the Transmission, Distribution, Storage Improvement Charge 2.0 investment plan for 2023-2028 (TDSIC 2.0). On June 15, 2022, the IURC approved, without modification, TDSIC 2.0, which includes approximately $2 billion in transmission and distribution investments selected to improve customer reliability, harden and improve resiliency of the grid, enable expansion of renewable and distributed energy projects and encourage economic development. In addition, the IURC set up a subdocket to consider a targeted economic development project, which the IURC approved on March 2, 2022. On July 15, 2022, the OUCC filed a notice of appeal to the Indiana Court of Appeals in Duke Energy Indiana’s TDSIC 2.0 proceeding. An appellant brief was filed on October 28, 2022, and Duke Energy Indiana filed its responsive brief on December 28, 2022. The Indiana Court of Appeals issued its opinion on March 9, 2023, affirming the IURC’s order in its entirety. The Duke Industrial Group filed a petition to transfer to the Indiana Supreme Court. The Indiana Supreme Court granted transfer and held an oral argument on September 28, 2023. Duke Energy Indiana cannot predict the outcome of this matter.
Piedmont
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – nuclear and other
$26 $27 (d)
Accrued pension and OPEB(c)
129 119 (g)
Vacation accrual
13 12 2024
Derivatives – natural gas supply contracts(f)
147 168 
Deferred pipeline integrity costs(c)
103 93 2025
Decoupling
75 42 (e)(b)
Tennessee ARM Deferral
20 3 (e)(b)
Other58 47 (e)(b)
Total regulatory assets571 511 
Less: Current portion
161 119 
Total noncurrent regulatory assets$410 $392 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$433 $459 (b)
COR regulatory liability(c)
555 573 (d)
Other 98 66 (e)(b)
Total regulatory liabilities1,086 1,098 
Less: Current portion
98 74 
Total noncurrent regulatory liabilities$988 $1,024 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovery over the life of the associated assets.
(e)    Certain costs earn/pay a return.
(f)    Balance will fluctuate with changes in the market. Current contracts extend into 2031.
(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Tennessee Annual Review Mechanism
On October 10, 2022, the TPUC approved Piedmont’s petition to adopt an ARM as allowed by Tennessee law. Under the ARM, Piedmont will adjust rates annually to achieve its allowed 9.80% ROE over the upcoming year and to true up any variance between its allowed ROE and actual ROE from the prior calendar year. The initial year subject to the true up was 2022, and Piedmont filed the initial rate adjustments request on May 19, 2023, for a total increase of approximately $42 million. On September 11, 2023, the TPUC approved a settlement between Piedmont and the Consumer Advocate Division of the Tennessee Attorney General's Office, which provided for recovery of the Historic Base Period Reconciliation cost of service of $11 million through rider rates and an increase in Piedmont's base rates of $29 million for the Annual Base Rate Reset component of the ARM. These amounts result in a total increase of $40 million with adjusted rates effective October 1, 2023.
OTHER REGULATORY MATTERS
Potential Coal Plant Retirements
The Subsidiary Registrants periodically file IRPs with their state regulatory commissions. The IRPs provide a view of forecasted energy needs over a long term (10 to 20 years) and resources proposed to meet those needs.
IRPs filed by certain Subsidiary Registrants included planning assumptions around future retirement dates of aging coal-fired generating facilities in North Carolina (Duke Energy Carolinas and Duke Energy Progress) and Indiana (Duke Energy Indiana). In North Carolina, the NCUC concluded in its December 2022 Carbon Plan order that the projected retirement dates presented by Duke Energy Carolinas and Duke Energy Progress in their Carbon Plan for coal-fired generating facilities were reasonable for planning purposes and further directed that appropriate steps be taken to optimally retire the coal fleet according to such schedule. Duke Energy Carolinas and Duke Energy Progress filed updated Resource Plans (Carbon Plan and IRP) in August 2023, and a supplemental filing in January 2024. See the "Other Matters" section of Item 7 Management's Discussion and Analysis for further details on IRPs.
Duke Energy continues to evaluate the retirement date assumptions for coal-fired generating facilities as changes in energy usage and/or growth and availability of replacement generation could result in different retirement dates of units than their current estimated useful lives. Except as discussed above related to Duke Energy Kentucky's East Bend plant, rate cases recently filed or approved across all jurisdictions included proposed depreciation rates reflecting the earlier retirement dates as outlined in recent IRPs. Duke Energy plans to seek regulatory recovery for amounts that would not be otherwise recovered when any of these assets are retired.
v3.24.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
INSURANCE
General Insurance
The Duke Energy Registrants have insurance and reinsurance coverage either directly or through indemnification from Duke Energy’s captive insurance company, Bison, and its affiliates, consistent with companies engaged in similar commercial operations with similar type properties. The Duke Energy Registrants’ coverage includes (i) commercial general liability coverage for liabilities arising to third parties for bodily injury and property damage; (ii) workers’ compensation; (iii) automobile liability coverage; and (iv) property coverage for all real and personal property damage. Real and personal property damage coverage excludes electric transmission and distribution lines, but includes damages arising from boiler and machinery breakdowns, earthquakes, flood damage and extra expense, but not outage or replacement power coverage. All coverage is subject to certain deductibles or retentions, sublimits, exclusions, terms and conditions common for companies with similar types of operations. The Duke Energy Registrants self-insure their electric transmission and distribution lines against loss due to storm damage and other natural disasters. As discussed further in Note 4, Duke Energy Florida maintains a storm damage reserve and has a regulatory mechanism to recover the cost of named storms on an expedited basis.
The cost of the Duke Energy Registrants’ coverage can fluctuate from year to year reflecting claims history and conditions of the insurance and reinsurance markets. In the event of a loss, terms and amounts of insurance and reinsurance available might not be adequate to cover claims and other expenses incurred. Uninsured losses and other expenses, to the extent not recovered by other sources, could have a material effect on the Duke Energy Registrants’ results of operations, cash flows or financial position. Each company is responsible to the extent losses may be excluded or exceed limits of the coverage available.
Nuclear Insurance
Duke Energy Carolinas owns and operates McGuire and Oconee and operates and has a partial ownership interest in Catawba. McGuire and Catawba each have two reactors. Oconee has three reactors. The other joint owners of Catawba reimburse Duke Energy Carolinas for certain expenses associated with nuclear insurance per the Catawba joint owner agreements.
Duke Energy Progress owns and operates Robinson, Brunswick and Harris. Robinson and Harris each have one reactor. Brunswick has two reactors.
Duke Energy Florida owns Crystal River Unit 3, which permanently ceased operation in 2013 and achieved a SAFSTOR condition in July 2019. On October 1, 2020, Crystal River Unit 3 changed decommissioning strategies from SAFSTOR to DECON.
In the event of a loss, terms and amounts of insurance available might not be adequate to cover property damage and other expenses incurred. Uninsured losses and other expenses, to the extent not recovered by other sources, could have a material effect on Duke Energy Carolinas’, Duke Energy Progress’ and Duke Energy Florida’s results of operations, cash flows or financial position. Each company is responsible to the extent losses may be excluded or exceed limits of the coverage available.
Nuclear Liability Coverage
The Price-Anderson Act requires owners of nuclear reactors to provide for public nuclear liability protection per nuclear incident up to a maximum total financial protection liability. The maximum total financial protection liability, which is approximately $16.2 billion, is subject to change every five years for inflation and for the number of licensed reactors. Total nuclear liability coverage consists of a combination of private primary nuclear liability insurance coverage and a mandatory industry risk-sharing program to provide for excess nuclear liability coverage above the maximum reasonably available private primary coverage. The U.S. Congress could impose revenue-raising measures on the nuclear industry to pay claims.
Primary Liability Insurance
Duke Energy Carolinas and Duke Energy Progress have purchased the maximum reasonably available private primary nuclear liability insurance as required by law, which is $450 million per station. Duke Energy Florida has purchased $100 million primary nuclear liability insurance for Crystal River in compliance with the law.
Excess Liability Program
This program provides $16.2 billion of coverage per incident through the Price-Anderson Act’s mandatory industrywide excess secondary financial protection program of risk pooling. This amount is the product of potential cumulative retrospective premium assessments of $166 million times the current 95 licensed commercial nuclear reactors in the U.S. Under this program, operating unit licensees could be assessed retrospective premiums to compensate for public nuclear liability damages in the event of a nuclear incident at any licensed facility in the U.S. Retrospective premiums may be assessed at a rate not to exceed $24.7 million per year per licensed reactor for each incident. The assessment may be subject to state premium taxes.
Nuclear Property and Accidental Outage Coverage
Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are members of Nuclear Electric Insurance Limited (NEIL), an industry mutual insurance company, which provides property damage, nuclear accident decontamination and premature decommissioning insurance for each station for losses resulting from damage to its nuclear plants, either due to accidents or acts of terrorism. Additionally, NEIL provides accidental outage coverage for losses in the event of a major accidental outage at an insured nuclear station.
Pursuant to regulations of the NRC, each company’s property damage insurance policies provide that all proceeds from such insurance be applied, first, to place the plant in a safe and stable condition after a qualifying accident and second, to decontaminate the plant before any proceeds can be used for decommissioning, plant repair or restoration.
Losses resulting from acts of terrorism are covered as common occurrences, such that if terrorist acts occur against one or more commercial nuclear power plants insured by NEIL within a 12-month period, they would be treated as one event and the owners of the plants where the act occurred would share one full limit of liability. The full limit of liability is currently $3.2 billion. NEIL sublimits the total aggregate for all of their policies for non-nuclear terrorist events to approximately $1.8 billion.
Each nuclear facility has accident property damage, nuclear accident decontamination and premature decommissioning liability insurance from NEIL with limits of $1.5 billion, except for Crystal River Unit 3. Crystal River Unit 3’s limit is $50 million and is on an actual cash value basis. All nuclear facilities except for Catawba and Crystal River Unit 3 also share an additional $1.25 billion nuclear accident insurance limit above their dedicated underlying limit. This shared additional excess limit is not subject to reinstatement in the event of a loss. Catawba has a dedicated $1.25 billion of additional nuclear accident insurance limit above its dedicated underlying limit. Catawba and Oconee also have an additional $750 million of non-nuclear accident property damage limit. All coverages are subject to sublimits and significant deductibles.
NEIL’s Accidental Outage policy provides some coverage, similar to business interruption, for losses in the event of a major accident property damage outage of a nuclear unit. Coverage is provided on a weekly limit basis after a significant waiting period deductible and at 100% of the applicable weekly limits for 52 weeks and 80% of the applicable weekly limits for up to the next 110 weeks. Coverage is provided until these applicable weekly periods are met, where the accidental outage policy limit will not exceed $490 million for Catawba, McGuire and Harris, $462 million for Brunswick and Oconee and $378 million for Robinson. NEIL sublimits the accidental outage recovery up to the first 104 weeks of coverage not to exceed $328 million from non-nuclear accidental property damage. Coverage amounts decrease in the event more than one unit at a station is out of service due to a common accident. All coverages are subject to sublimits and significant deductibles.
Potential Retroactive Premium Assessments
In the event of NEIL losses, NEIL’s board of directors may assess member companies' retroactive premiums of amounts up to 10 times their annual premiums for up to six years after a loss. NEIL has never exercised this assessment. The maximum aggregate annual retrospective premium obligations for Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are $147 million, $90 million and $1 million, respectively. Duke Energy Carolinas' maximum assessment amount includes 100% of potential obligations to NEIL for jointly owned reactors. Duke Energy Carolinas would seek reimbursement from the joint owners for their portion of these assessment amounts.
ENVIRONMENTAL
The Duke Energy Registrants are subject to federal, state and local 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 of the Duke Energy Registrants.
Remediation Activities
In addition to AROs recorded as a result of various environmental regulations, discussed in Note 10, the Duke Energy Registrants are responsible for environmental remediation at various sites. These include certain properties that are part of ongoing operations and sites formerly owned or used by Duke Energy entities. These sites are in various stages of investigation, remediation and monitoring. Managed in conjunction with relevant federal, state and local agencies, remediation activities vary based upon site conditions and location, remediation requirements, complexity and sharing of responsibility. If remediation activities involve joint and several liability provisions, strict liability, or cost recovery or contribution actions, the Duke Energy Registrants could potentially be held responsible for environmental impacts caused by other potentially responsible parties and may also benefit from insurance policies or contractual indemnities that cover some or all cleanup costs. Liabilities are recorded when losses become probable and are reasonably estimable. The total costs that may be incurred cannot be estimated because the extent of environmental impact, allocation among potentially responsible parties, remediation alternatives and/or regulatory decisions have not yet been determined at all sites. Additional costs associated with remediation activities are likely to be incurred in the future and could be significant. Costs are typically expensed as Operation, maintenance and other in the Consolidated Statements of Operations unless regulatory recovery of the costs is deemed probable.
The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Accounts Payable within Other Current Liabilities and Other within Other Noncurrent Liabilities on the Consolidated Balance Sheets.
(in millions)December 31, 2023December 31, 2022
Reserves for Environmental Remediation
Duke Energy$88 $84 
Duke Energy Carolinas23 22 
Progress Energy19 19 
Duke Energy Progress9 8 
Duke Energy Florida10 11 
Duke Energy Ohio36 33 
Duke Energy Indiana2 3 
Piedmont7 7 
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.
LITIGATION
Duke Energy
Texas Storm Uri Tort Litigation
Duke Energy (Parent), several Duke Energy renewables project companies, and others in the ERCOT market were named in multiple lawsuits arising out of Texas Storm Uri, which occurred in February 2021. These lawsuits seek recovery for property damage, personal injury and wrongful death allegedly caused by the power outages that plaintiffs claim were the collective failure of generators including Duke Energy entities, transmission and distribution operators (TDUs), retail energy providers, and all others, including ERCOT. The cases were consolidated into a Texas state court multidistrict litigation (MDL) proceeding for discovery and pre-trial motions. Five MDL cases were designated as lead cases in which motions to dismiss were filed and all other cases were stayed. On January 28, 2023, the Court denied certain motions including those by the generator defendants and TDUs and granted others. The generators and TDUs filed separate petitions for Writ of Mandamus to the Texas Court of Appeals seeking to overturn the denials. The TDUs' petition, filed first, was accepted and oral argument was held on October 23, 2023. In the cases against the generators, Plaintiffs have dismissed the claims against Duke Energy (Parent). However, before Duke Energy (Parent) was dismissed from all cases, on December 14, 2023, without argument, the Court of Appeals accepted mandamus of the generator defendants’ appeal, which includes all Duke Energy entities, and directed the MDL court to dismiss all claims. Plaintiffs filed their Petition for Reconsideration on January 29, 2024. Regardless of the outcome of any motion for reconsideration or appeal, claims against Duke Energy (Parent) will remain dismissed. In October 2023, in conjunction with the closing of the sale of the utility-scale solar and wind group, all but one of the project company lawsuits transferred to Brookfield. Based on legal proceedings to date and applicable insurance and reinsurance coverage, Duke Energy (Parent) does not anticipate any material financial impacts with this remaining case. Duke Energy cannot predict the ultimate outcome of this matter. See Note 2 for more information related to the sale of the Commercial Renewables Disposal Groups.
Duke Energy Carolinas
Ruben Villano, et al. v. Duke Energy Carolinas, LLC
On June 16, 2021, a group of nine individuals went over a low-head dam adjacent to the Dan River Steam Station in Eden, North Carolina, while water tubing. Emergency personnel rescued four people and five others were confirmed deceased. On August 11, 2021, Duke Energy Carolinas was served with the complaint filed in Durham County Superior Court on behalf of four survivors, which was later amended to include all the decedents along with the survivors. The lawsuit alleges that Duke Energy Carolinas knew that the river was used for recreational purposes, did not adequately warn about the dam, and created a dangerous and hidden hazard on the Dan River in building and maintaining the low-head dam. In 2023, Duke Energy Carolinas reached an agreement that resolved this matter. The resolution, which did not have a material financial impact, was approved by the Durham County Superior Court. The case was dismissed on June 6, 2023.
NTE Carolinas II, LLC Litigation
In November 2017, Duke Energy Carolinas entered into a standard FERC large generator interconnection agreement (LGIA) with NTE Carolinas II, LLC (NTE), a company that proposed 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, 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 sought 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. Both NTE's and Duke Energy Carolinas' motions to dismiss were subsequently denied by the court.
On May 21, 2020, in response to a NTE petition challenging Duke Energy Carolinas' termination of the LGIA, FERC issued a ruling that 1) it has exclusive jurisdiction to determine whether a transmission provider may terminate a LGIA; 2) FERC approval is required to terminate a conforming LGIA if objected to by the interconnection customer; and 3) Duke Energy may not announce the termination of a conforming LGIA unless FERC has approved the termination. FERC's Office of Enforcement also initiated an investigation of Duke Energy Carolinas into matters pertaining to the LGIA. On April 6, 2023, Duke Energy Carolinas received notice from the FERC Office of Enforcement that they have closed their non-public investigation with no further action recommended.
Following completion of discovery, Duke Energy Carolinas filed a motion for summary judgment seeking a ruling in its favor as to some of its affirmative claims against NTE and to all of NTE’s counterclaims. On June 24, 2022, the court issued an order partially granting Duke Energy Carolinas' motion by dismissing NTE's counterclaims that Duke Energy Carolinas engaged in anti-competitive behavior in violation of state and federal statutes. On October 12, 2022, the parties executed a settlement agreement with respect to the remaining breach of contract claims in the litigation and a Stipulation of Dismissal was filed with the court on October 13, 2022. On November 11, 2022, NTE filed its Notice of Appeal to the U.S. Court of Appeals for the Fourth Circuit as to the District Court's summary judgment ruling in Duke Energy Carolinas' favor on NTE's antitrust and unfair competition claims. Briefing on NTE's appeal was completed on June 30, 2023. Oral Argument has been tentatively set for May 7-10, 2024. 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.
Duke Energy Carolinas has recognized asbestos-related reserves of $423 million and $457 million at December 31, 2023, and 2022, respectively. These reserves are classified in Other within Other Noncurrent Liabilities and Other within Current Liabilities on the Consolidated Balance Sheets. These reserves are based upon Duke Energy Carolinas' best estimate for current and future asbestos claims through 2043 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 2043 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. Receivables for insurance recoveries were $572 million and $595 million at December 31, 2023, and 2022, respectively. These amounts are classified in Other within Other Noncurrent Assets and Receivables within Current Assets on the Consolidated Balance Sheets. Any future payments up to the policy limit will be reimbursed by the third-party insurance carrier. 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.
The reserve for credit losses for insurance receivables for the asbestos-related injuries and damages is $9 million as of December 31, 2023, and $12 million as of December 31, 2022, for both Duke Energy and Duke Energy Carolinas. The insurance receivable is 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 Indiana
Coal Ash Insurance Coverage Litigation
In June 2022, Duke Energy Indiana filed a civil action in Indiana Superior Court against various insurance companies seeking declaratory relief with respect to insurance coverage for CCR-related expenses and liabilities covered by third-party liability insurance policies. The insurance policies cover the 1969-1972 and 1984-1985 periods and provide third-party liability insurance for claims and suits alleging property damage, bodily injury and personal injury (or a combination thereof). A trial date has not yet been set. On June 30, 2023, Duke Energy Indiana and Associated Electric and Gas Insurance Services (AEGIS) reached a confidential settlement, the results of which were not material to Duke Energy, and as a result, AEGIS was dismissed from the litigation on July 13, 2023. On December 11, 2023, Duke Energy Indiana and Munich Reinsurance America, Inc. (formerly known as American Re-Insurance Company) (AmRe) reached a confidential settlement, the results of which were not material, and AmRe was dismissed from the litigation on January 18, 2024. The lawsuit remains pending as to the other insurers, but is stayed until March 31, 2024, to allow for further settlement negotiations with other defendants. Duke Energy Indiana cannot predict the outcome of this matter.
Other Litigation and Legal Proceedings
The Duke Energy Registrants are involved in other legal, tax and regulatory proceedings arising in the ordinary course of business, some of which involve significant amounts. The Duke Energy Registrants believe the final disposition of these proceedings will not have a material effect on their results of operations, cash flows or financial position for the years presented. Reserves are classified on the Consolidated Balance Sheets in Other within Other Noncurrent Liabilities and Other within Current Liabilities.
OTHER COMMITMENTS AND CONTINGENCIES
General
As part of their normal business, the Duke Energy Registrants are party to various financial guarantees, performance guarantees and other contractual commitments to extend guarantees of credit and other assistance to various subsidiaries, investees and other third parties. These guarantees involve elements of performance and credit risk, which are not fully recognized on the Consolidated Balance Sheets and have uncapped maximum potential payments. 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. See Note 8 for more information.
Purchase Obligations
Purchased Power
Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana have ongoing purchased power contracts, including renewable energy contracts, with other utilities, wholesale marketers, co-generators and qualified facilities. These purchased power contracts generally provide for capacity and energy payments. In addition, Duke Energy Progress and Duke Energy Florida have various contracts to secure transmission rights.
The following table presents executory purchased power contracts with terms exceeding one year, excluding contracts classified as leases.
  Minimum Purchase Amount at December 31, 2023
Contract
(in millions) Expiration20242025202620272028ThereafterTotal
Duke Energy Progress(a)
2028-2032$21 $22 $18 $19 $19 $7 $106 
Duke Energy Florida(b)
2025
86 91 — — — — 177 
Duke Energy Ohio(c)
2025
153 98 — — — — 251 
Duke Energy Indiana(c)
2026
12 20 8 — — — 40 
(a)    Contracts represent between 18% and 100% of net plant output.
(b)    Contracts represent 100% of net plant output.
(c)    Share of net plant output varies. Duke Energy Ohio excludes PPA with OVEC.
Gas Supply and Capacity Contracts
Duke Energy Ohio and Piedmont routinely enter into long-term natural gas supply commodity and capacity commitments and other agreements that commit future cash flows to acquire services needed in their businesses. These commitments include pipeline and storage capacity contracts and natural gas supply contracts to provide service to customers. Costs arising from the natural gas supply commodity and capacity commitments, while significant, are pass-through costs to customers and are generally fully recoverable through specific fuel rate components operating in conjunction with PGA procedures, and subject to periodic prudence reviews in North Carolina and South Carolina and the Performance Incentive Plan in Tennessee. In the Midwest, these costs are recovered via the Gas Cost Recovery Rate in Ohio or the Gas Cost Adjustment Clause in Kentucky. The time periods for fixed payments under pipeline and storage capacity contracts are up to 19 years. The time periods for fixed payments under natural gas supply contracts is up to two years. The time period for the natural gas supply purchase commitments is up to seven years.
Certain storage and pipeline capacity contracts require the payment of demand charges that are based on rates approved by the FERC in order to maintain rights to access the natural gas storage or pipeline capacity on a firm basis during the contract term. The demand charges that are incurred in each period are recognized in the Consolidated Statements of Operations and Comprehensive Income as part of natural gas purchases and are included in Cost of natural gas.
The following table presents future unconditional purchase obligations under natural gas supply and capacity contracts as of December 31, 2023.
(in millions)20242025202620272028ThereafterTotal
Duke Energy Ohio$103 $87 $57 $53 $51 $574 $925 
Piedmont295 287 268 209 186 373 1,618 
v3.24.0.1
Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases LEASES
As part of its operations, Duke Energy leases certain aircraft, space on communication towers, industrial equipment, fleet vehicles, fuel transportation (barges and railcars), land and office space under various terms and expiration dates. Additionally, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Indiana have finance leases related to firm natural gas pipeline transportation capacity. Duke Energy Progress and Duke Energy Florida have entered into certain PPAs, which are classified as finance and operating leases.
Duke Energy has certain lease agreements, which include variable lease payments that are based on the usage of an asset. These variable lease payments are not included in the measurement of the ROU assets or operating lease liabilities on the Consolidated Financial Statements.
Certain Duke Energy lease agreements include options for renewal and early termination. The intent to renew a lease varies depending on the lease type and asset. Renewal options that are reasonably certain to be exercised are included in the lease measurements. The decision to terminate a lease early is dependent on various economic factors. No termination options have been included in any of the lease measurements.
Duke Energy Carolinas entered into a sale-leaseback arrangement in December 2019, to construct and occupy an office tower. The lease agreement was evaluated as a sale-leaseback of real estate and it was determined that the transaction did not qualify for sale-leaseback accounting. As a result, the transaction is being accounted for as a financing. For this transaction, Duke Energy Carolinas will continue to record the real estate on the Consolidated Balance Sheets within Property, Plant and Equipment as if it were the legal owner and will continue to recognize depreciation expense over the estimated useful life. In addition, the failed sale-leaseback obligation is reported within Long-Term Debt on the Consolidated Balance Sheets, with the monthly lease payments commencing after the construction phase being split between interest expense and principal pay down of the debt.
Piedmont has certain agreements with Duke Energy Carolinas for the construction and transportation of natural gas pipelines to supply its natural gas plant needs. Piedmont accounts for these pipeline lateral contracts as sales-type leases since the present value of the sum of the lease payments equals the fair value of the assets. These pipeline lateral assets owned by Piedmont had a current net investment basis of $2 million as of December 31, 2023, and 2022, and a long-term net investment basis of $199 million and $201 million as of December 31, 2023, and 2022, respectively. These assets are classified in Other, within Current Assets and Other Noncurrent Assets, respectively, on Piedmont's Consolidated Balance Sheets. Duke Energy Carolinas accounts for the contracts as finance leases. The activity for these contracts is eliminated in consolidation at Duke Energy.
The following tables present the components of lease expense.
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$236 $41 $157 $80 $77 $11 $17 $2 
Short-term lease expense(a)
5 — 2 1 1 — 1 — 
Variable lease expense(a)
27 2 22 11 11 — — 1 
Finance lease expense
Amortization of leased assets(b)
160 7 57 35 22 — — — 
Interest on lease liabilities(c)
46 31 45 43 2 — 1 — 
Total finance lease expense206 38 102 78 24 — 1 — 
Total lease expense$474 $81 $283 $170 $113 $11 $19 $3 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$229 $39 $153 $83 $70 $10 $19 $6 
Short-term lease expense(a)
4 — 1 — 1 — 2 — 
Variable lease expense(a)
61 (1)60 37 23 — — 1 
Finance lease expense
Amortization of leased assets(b)
151 6 61 41 20 — — — 
Interest on lease liabilities(c)
50 32 49 45 4 — 1 — 
Total finance lease expense201 38 110 86 24 — 1 — 
Total lease expense$495 $76 $324 $206 $118 $10 $22 $7 
(a)    Included in Operations, maintenance and other or, for barges and railcars, Fuel used in electric generation and purchased power on the Consolidated Statements of Operations.
(b)    Included in Depreciation and amortization on the Consolidated Statements of Operations.
(c)    Included in Interest Expense on the Consolidated Statements of Operations.
The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
2024$244 $21 $116 $56 $60 $2 $7 $5 
2025214 16 102 42 60 2 7 4 
2026201 15 105 46 59 2 6 1 
2027170 9 79 47 32 2 5 — 
2028136 8 67 47 20 1 4 — 
Thereafter388 41 315 163 152 13 39 — 
Total operating lease payments1,353 110 784 401 383 22 68 10 
Less: Present value discount
(248)(20)(146)(63)(83)(5)(16)— 
Total operating lease liabilities(a)
$1,105 $90 $638 $338 $300 $17 $52 $10 
(a)    Certain operating lease payments include renewal options that are reasonably certain to be exercised.
The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities.
December 31, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
2024$157 $38 $88 $79 $9 $1 
202588 38 85 80 5 1 
202683 38 86 81 5 1 
202776 38 83 81 2 1 
202874 38 81 81 — 1 
Thereafter511 389 474 474 — 21 
Total finance lease payments989 579 897 876 21 26 
Less: Amounts representing interest
(350)(302)(326)(324)(2)(17)
Total finance lease liabilities$639 $277 $571 $552 $19 $9 
The following tables contain additional information related to leases.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,092 $78 $617 $318 $299 $16 $50 $4 
FinanceNet property, plant and equipment687 268 615 552 63 — 6 — 
Total lease assets$1,779 $346 $1,232 $870 $362 $16 $56 $4 
Liabilities
Current
OperatingOther current liabilities$188 $15 $94 $45 $49 $1 $6 $— 
FinanceCurrent maturities of long-term debt115 8 46 38 8 — — — 
Noncurrent
OperatingOperating lease liabilities917 75 544 293 251 16 46 10 
FinanceLong-Term Debt524 269 525 514 11 — 9 — 
Total lease liabilities$1,744 $367 $1,209 $890 $319 $17 $61 $10 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,042 $78 $628 $370 $258 $18 $49 $4 
FinanceNet property, plant and equipment810 284 674 590 84 — 6 — 
Total lease assets$1,852 $362 $1,302 $960 $342 $18 $55 $4 
Liabilities
Current
OperatingOther current liabilities$179 $14 $96 $51 $45 $1 $4 $— 
FinanceCurrent maturities of long-term debt153 7 57 35 22 — — — 
Noncurrent
OperatingOperating lease liabilities876 83 546 335 211 17 47 13 
FinanceLong-Term Debt611 277 571 552 19 — 9 — 
Total lease liabilities$1,819 $381 $1,270 $973 $297 $18 $60 $13 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$228 $18 $123 $64 $59 $2 $7 $— 
Operating cash flows from finance leases46 31 45 43 2 — 1 — 
Financing cash flows from finance leases160 7 57 35 22 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$286 $14 $92 $1 $91 $2 $6 $2 
Finance36 — — — — — — — 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$230 $24 $118 $63 $55 $2 $6 $4 
Operating cash flows from finance leases50 32 49 45 4 — 1 — 
Financing cash flows from finance leases151 6 61 41 20 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$111 $10 $— $— $— $— $— $— 
Finance— — — — — — — — 
(a)    No amounts were classified as investing cash flows from operating leases.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases9101091113134
Finance leases1116111118— 223
Weighted average discount rate(a)
Operating leases3.1 %4.0 %3.8 %3.6 %4.0 %4.2 %3.9 %2.4 %
Finance leases8.5 %11.5 %9.1 %9.2 %7.6 %— %11.9 %5.4 %
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases81089615151
Finance leases1017121212— 23— 
Weighted average discount rate(a)
Operating leases3.4 %3.8 %3.6 %3.5 %3.8 %4.2 %4.0 %3.3 %
Finance leases7.7 %11.5 %9.1 %9.1 %8.0 %— %11.9 %— %
(a)    The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets.
Leases LEASES
As part of its operations, Duke Energy leases certain aircraft, space on communication towers, industrial equipment, fleet vehicles, fuel transportation (barges and railcars), land and office space under various terms and expiration dates. Additionally, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Indiana have finance leases related to firm natural gas pipeline transportation capacity. Duke Energy Progress and Duke Energy Florida have entered into certain PPAs, which are classified as finance and operating leases.
Duke Energy has certain lease agreements, which include variable lease payments that are based on the usage of an asset. These variable lease payments are not included in the measurement of the ROU assets or operating lease liabilities on the Consolidated Financial Statements.
Certain Duke Energy lease agreements include options for renewal and early termination. The intent to renew a lease varies depending on the lease type and asset. Renewal options that are reasonably certain to be exercised are included in the lease measurements. The decision to terminate a lease early is dependent on various economic factors. No termination options have been included in any of the lease measurements.
Duke Energy Carolinas entered into a sale-leaseback arrangement in December 2019, to construct and occupy an office tower. The lease agreement was evaluated as a sale-leaseback of real estate and it was determined that the transaction did not qualify for sale-leaseback accounting. As a result, the transaction is being accounted for as a financing. For this transaction, Duke Energy Carolinas will continue to record the real estate on the Consolidated Balance Sheets within Property, Plant and Equipment as if it were the legal owner and will continue to recognize depreciation expense over the estimated useful life. In addition, the failed sale-leaseback obligation is reported within Long-Term Debt on the Consolidated Balance Sheets, with the monthly lease payments commencing after the construction phase being split between interest expense and principal pay down of the debt.
Piedmont has certain agreements with Duke Energy Carolinas for the construction and transportation of natural gas pipelines to supply its natural gas plant needs. Piedmont accounts for these pipeline lateral contracts as sales-type leases since the present value of the sum of the lease payments equals the fair value of the assets. These pipeline lateral assets owned by Piedmont had a current net investment basis of $2 million as of December 31, 2023, and 2022, and a long-term net investment basis of $199 million and $201 million as of December 31, 2023, and 2022, respectively. These assets are classified in Other, within Current Assets and Other Noncurrent Assets, respectively, on Piedmont's Consolidated Balance Sheets. Duke Energy Carolinas accounts for the contracts as finance leases. The activity for these contracts is eliminated in consolidation at Duke Energy.
The following tables present the components of lease expense.
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$236 $41 $157 $80 $77 $11 $17 $2 
Short-term lease expense(a)
5 — 2 1 1 — 1 — 
Variable lease expense(a)
27 2 22 11 11 — — 1 
Finance lease expense
Amortization of leased assets(b)
160 7 57 35 22 — — — 
Interest on lease liabilities(c)
46 31 45 43 2 — 1 — 
Total finance lease expense206 38 102 78 24 — 1 — 
Total lease expense$474 $81 $283 $170 $113 $11 $19 $3 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$229 $39 $153 $83 $70 $10 $19 $6 
Short-term lease expense(a)
4 — 1 — 1 — 2 — 
Variable lease expense(a)
61 (1)60 37 23 — — 1 
Finance lease expense
Amortization of leased assets(b)
151 6 61 41 20 — — — 
Interest on lease liabilities(c)
50 32 49 45 4 — 1 — 
Total finance lease expense201 38 110 86 24 — 1 — 
Total lease expense$495 $76 $324 $206 $118 $10 $22 $7 
(a)    Included in Operations, maintenance and other or, for barges and railcars, Fuel used in electric generation and purchased power on the Consolidated Statements of Operations.
(b)    Included in Depreciation and amortization on the Consolidated Statements of Operations.
(c)    Included in Interest Expense on the Consolidated Statements of Operations.
The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
2024$244 $21 $116 $56 $60 $2 $7 $5 
2025214 16 102 42 60 2 7 4 
2026201 15 105 46 59 2 6 1 
2027170 9 79 47 32 2 5 — 
2028136 8 67 47 20 1 4 — 
Thereafter388 41 315 163 152 13 39 — 
Total operating lease payments1,353 110 784 401 383 22 68 10 
Less: Present value discount
(248)(20)(146)(63)(83)(5)(16)— 
Total operating lease liabilities(a)
$1,105 $90 $638 $338 $300 $17 $52 $10 
(a)    Certain operating lease payments include renewal options that are reasonably certain to be exercised.
The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities.
December 31, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
2024$157 $38 $88 $79 $9 $1 
202588 38 85 80 5 1 
202683 38 86 81 5 1 
202776 38 83 81 2 1 
202874 38 81 81 — 1 
Thereafter511 389 474 474 — 21 
Total finance lease payments989 579 897 876 21 26 
Less: Amounts representing interest
(350)(302)(326)(324)(2)(17)
Total finance lease liabilities$639 $277 $571 $552 $19 $9 
The following tables contain additional information related to leases.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,092 $78 $617 $318 $299 $16 $50 $4 
FinanceNet property, plant and equipment687 268 615 552 63 — 6 — 
Total lease assets$1,779 $346 $1,232 $870 $362 $16 $56 $4 
Liabilities
Current
OperatingOther current liabilities$188 $15 $94 $45 $49 $1 $6 $— 
FinanceCurrent maturities of long-term debt115 8 46 38 8 — — — 
Noncurrent
OperatingOperating lease liabilities917 75 544 293 251 16 46 10 
FinanceLong-Term Debt524 269 525 514 11 — 9 — 
Total lease liabilities$1,744 $367 $1,209 $890 $319 $17 $61 $10 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,042 $78 $628 $370 $258 $18 $49 $4 
FinanceNet property, plant and equipment810 284 674 590 84 — 6 — 
Total lease assets$1,852 $362 $1,302 $960 $342 $18 $55 $4 
Liabilities
Current
OperatingOther current liabilities$179 $14 $96 $51 $45 $1 $4 $— 
FinanceCurrent maturities of long-term debt153 7 57 35 22 — — — 
Noncurrent
OperatingOperating lease liabilities876 83 546 335 211 17 47 13 
FinanceLong-Term Debt611 277 571 552 19 — 9 — 
Total lease liabilities$1,819 $381 $1,270 $973 $297 $18 $60 $13 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$228 $18 $123 $64 $59 $2 $7 $— 
Operating cash flows from finance leases46 31 45 43 2 — 1 — 
Financing cash flows from finance leases160 7 57 35 22 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$286 $14 $92 $1 $91 $2 $6 $2 
Finance36 — — — — — — — 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$230 $24 $118 $63 $55 $2 $6 $4 
Operating cash flows from finance leases50 32 49 45 4 — 1 — 
Financing cash flows from finance leases151 6 61 41 20 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$111 $10 $— $— $— $— $— $— 
Finance— — — — — — — — 
(a)    No amounts were classified as investing cash flows from operating leases.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases9101091113134
Finance leases1116111118— 223
Weighted average discount rate(a)
Operating leases3.1 %4.0 %3.8 %3.6 %4.0 %4.2 %3.9 %2.4 %
Finance leases8.5 %11.5 %9.1 %9.2 %7.6 %— %11.9 %5.4 %
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases81089615151
Finance leases1017121212— 23— 
Weighted average discount rate(a)
Operating leases3.4 %3.8 %3.6 %3.5 %3.8 %4.2 %4.0 %3.3 %
Finance leases7.7 %11.5 %9.1 %9.1 %8.0 %— %11.9 %— %
(a)    The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets.
v3.24.0.1
Debt and Credit Facilities
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Debt and Credit Facilities DEBT AND CREDIT FACILITIES
Summary of Debt and Related Terms
The following tables summarize outstanding debt.
 December 31, 2023
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2024-2082
4.36 %$30,435 $1,150 $1,800 $— $150 $1,155 $393 $3,695 
Secured debt, maturing 2024-2052
4.23 %4,202 1,441 2,379 1,121 1,258 — — — 
First mortgage bonds, maturing 2025-2073(a)
4.18 %37,443 12,955 18,550 9,475 9,075 2,300 3,638 — 
Finance leases, maturing 2024-2051(b)
639 277 571 552 19 — 9 — 
Tax-exempt bonds, maturing 2027-2046(c)
3.89 %1,331 — 500 500 — 77 352 — 
Notes payable and commercial paper(d)
5.58 %4,925 — — — — — — — 
Money pool/intercompany borrowings — 968 1,193 1,041 152 638 407 538 
Fair value hedge carrying value adjustment  32 — — — — — — — 
Unamortized debt discount and premium, net(e)
 916 (29)(46)(24)(20)(24)(16)(8)
Unamortized debt issuance costs(f)
(383)(82)(145)(60)(81)(15)(25)(19)
Total debt 4.35 %$79,540 $16,680 $24,802 $12,605 $10,553 $4,131 $4,758 $4,206 
Short-term notes payable and commercial paper  (4,288)— — — — — — — 
Short-term money pool/intercompany borrowings — (668)(1,043)(891)(152)(613)(256)(538)
Current maturities of long-term debt(g)
 (2,800)(19)(661)(72)(589)— (4)(40)
Total long-term debt(g)
$72,452 $15,993 $23,098 $11,642 $9,812 $3,518 $4,498 $3,628 
(a)Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)Duke Energy includes $63 million of finance lease purchase accounting adjustments related to Duke Energy Florida related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.
(c)Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.
(d)Includes $625 million classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper program was 23 days.
(e)Duke Energy includes $992 million and $69 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(f)Duke Energy includes $25 million in purchase accounting adjustments primarily related to the merger with Progress Energy.
(g)Refer to Note 18 for additional information on amounts from consolidated VIEs.
 December 31, 2022
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2023-2082
4.20 %$29,585 $1,150 $2,600 $— $950 $1,330 $697 $3,390 
Secured debt, maturing 2023-2052
3.70 %4,116 1,317 2,383 1,155 1,228 — — — 
First mortgage bonds, maturing 2023-2052(a)
3.89 %32,645 11,306 16,350 8,776 7,576 1,850 3,138 — 
Finance leases, maturing 2024-2051(b)
764 284 628 587 41 — 9 — 
Tax-exempt bonds, maturing 2027-2046(c)
3.84 %1,331 — 500 500 — 77 352 — 
Notes payable and commercial paper(d)
4.50 %4,582 — — — — — — — 
Money pool/intercompany borrowings— 1,533 993 389 605 522 585 514 
Fair value hedge carrying value adjustment (5)— — — — — — — 
Unamortized debt discount and premium, net(e)
1,016 (21)(40)(23)(16)(25)(17)(9)
Unamortized debt issuance costs(f)
(331)(70)(132)(59)(70)(12)(22)(18)
Total debt 4.07 %$73,703 $15,499 $23,282 $11,325 $10,314 $3,742 $4,742 $3,877 
Short-term notes payable and commercial paper  (3,952)— — — — — — — 
Short-term money pool/intercompany borrowings — (1,233)(843)(238)(605)(497)(435)(514)
Current maturities of long-term debt(g)
 (3,878)(1,018)(697)(369)(328)(475)(303)(45)
Total long-term debt(g)
$65,873 $13,248 $21,742 $10,718 $9,381 $2,770 $4,004 $3,318 
(a)    Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)    Duke Energy includes $164 million of finance lease purchase accounting adjustments related to Duke Energy Florida related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.
(c)    Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.
(d)    Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper programs was 15 days.
(e)    Duke Energy includes $1,057 million and $85 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(f)    Duke Energy includes $27 million in purchase accounting adjustments primarily related to the merger with Progress Energy.
(g)     Refer to Note 18 for additional information on amounts from consolidated VIEs.
Current Maturities of Long-Term Debt
The following table shows the significant components of Current maturities of Long-Term Debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.
(in millions)Maturity DateInterest RateDecember 31, 2023
Unsecured Debt
Duke Energy (Parent) Term Loan Facility(a)
March 2024
6.157 %1,000 
Duke Energy (Parent)
April 2024
3.750 %1,000 
First Mortgage Bonds
Duke Energy Florida(b)
October 2073
4.960 %200 
Other(c)
600 
Current maturities of long-term debt$2,800 
(a)    Debt has a floating interest rate. In January 2024, Duke Energy (Parent) repaid the Term Loan Facility due March 2024.
(b)    While final maturity is October 2073, these first mortgage bonds are classified as Current maturities of long-term debt on the Consolidated Balance Sheets beginning December 31, 2023, based on terms of the indenture, which could require repayment in less than 12 months if exercised by the bondholders.
(c)    Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.
Maturities and Call Options
The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable, commercial paper and money pool borrowings and debt issuance costs for the Subsidiary Registrants.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy(a)
CarolinasEnergyProgressFloridaOhioIndianaPiedmont
2024$2,800 $19 $664 $72 $592 $— $4 $40 
20254,177 521 1,040 975 65 245 4 205 
20264,280 623 345 279 66 45 4 40 
20272,472 25 797 83 714 77 27 300 
20284,593 1,276 1,551 737 815 65 157 — 
Thereafter56,375 13,659 19,543 9,652 8,239 3,125 4,347 3,110 
Total long-term debt, including current maturities$74,697 $16,123 $23,940 $11,798 $10,491 $3,557 $4,543 $3,695 
(a)    Excludes $1,086 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition.
The Duke Energy Registrants have the ability under certain debt facilities to call and repay the obligation prior to its scheduled maturity. Therefore, the actual timing of future cash repayments could be materially different than as presented above.
Short-Term Obligations Classified as Long-Term Debt
Tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder and certain commercial paper issuances and money pool borrowings are classified as Long-Term Debt on the Consolidated Balance Sheets. These tax-exempt bonds, commercial paper issuances and money pool borrowings, which are short-term obligations by nature, are classified as long-term due to Duke Energy’s intent and ability to utilize such borrowings as long-term financing. As Duke Energy’s Master Credit Facility and other bilateral letter of credit agreements have non-cancelable terms in excess of one year as of the balance sheet date, Duke Energy has the ability to refinance these short-term obligations on a long-term basis. The following tables show short-term obligations classified as long-term debt.
 
December 31, 2023 and 2022
DukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasProgressOhioIndiana
Tax-exempt bonds $312 $— $— $27 $285 
Commercial paper(a)
625 300 150 25 150 
Total $937 $300 $150 $52 $435 
(a)    Progress Energy amounts are equal to Duke Energy Progress amounts.
Summary of Significant Debt Issuances
In January 2024, Duke Energy Corporation issued $1.25 billion of senior unsecured notes. The issuance was split between a $600 million, three-year tranche and a $650 million, five-year tranche, both at a fixed rate of 4.85%. The net proceeds were used to repay Duke Energy (Parent)'s $1 billion Term Loan Facility due March 2024, pay off short-term debt and for general corporate purposes.
In January 2024, Duke Energy Carolinas issued $1 billion of first mortgage bonds. The issuance consisted of a $575 million, 10-year tranche at 4.85% and a $425 million, 30-year tranche at 5.40%. The net proceeds were used to pay off short-term debt and for general company purposes.
The following tables summarize significant debt issuances (in millions).
Year Ended December 31, 2023
DukeDukeDukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Unsecured Debt
April 2023(a)
April 20264.125 %$1,725 $1,725 $— $— $— $— $— $— 
June 2023(b)
June 20335.400 %350 — — — — — — 350 
September 2023(c)
September 2033
5.750 %600 600 — — — — — — 
September 2023(c)
September 2053
6.100 %750 750 — — — — — — 
First Mortgage Bonds
January 2023(d)
January 20334.950 %900 — 900 — — — — — 
January 2023(d)
January 20535.350 %900 — 900 — — — — — 
March 2023(e)
March 20335.250 %500 — — 500 — — — — 
March 2023(e)
March 20535.350 %500 — — 500 — — — — 
March 2023(f)
April 20335.250 %375 — — — — 375 — — 
March 2023(f)
April 20535.650 %375 — — — — 375 — — 
March 2023(g)
April 20535.400 %500 — — — — — 500 — 
June 2023(h)
January 20334.950 %350 — 350 — — — — — 
June 2023(h)
January 20545.400 %500 — 500 — — — — — 
September 2023(h)
October 2073
4.960 %200 — — — 200 — — — 
November 2023(i)
November 2033
5.875 %600 — — — 600 — — — 
November 2023(i)
November 2053
6.200 %700 — — — 700 — — — 
Total issuances$9,825 $3,075 $2,650 $1,000 $1,500 $750 $500 $350 
(a)See "Duke Energy (Parent) Convertible Senior Notes" below for additional information.
(b)Debt issued to repay $45 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(c)Debt issued to repay $400 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(d)Debt issued to repay $1 billion of maturities due March 2023, to pay down a portion of short-term debt and for general company purposes.
(e)Debt issued to repay $300 million of maturities due September 2023, to pay down a portion of short-term debt and for general company purposes.
(f)Debt issued to repay $300 million of maturities due September 2023, to pay down a portion of the $100 million Duke Energy Ohio Term Loan due October 2023, to repay a portion of short-term debt and for general corporate purposes.
(g)Debt issued to repay the $300 million Duke Energy Indiana Term Loan due October 2023, to pay down a portion of short-term debt and for general company purposes.
(h)Debt issued to pay down a portion of short-term debt and for general company purposes.
(i)Debt issued to repay the $800 million Duke Energy Florida Term Loan due April 2024, to pay down a portion of short-term debt and for general company purposes.
Year Ended December 31, 2022
DukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaPiedmont
Unsecured Debt
May 2022(a)
May 20525.050 %$400 $— $— $— $— $400 
June 2022(b)
June 20284.750 %645 645 — — — — 
June 2022(b)
June 20345.306 %537 537 — — — — 
August 2022(c)
March 20284.300 %900 900 — — — — 
August 2022(c)
August 20324.500 %1,150 1,150 — — — — 
August 2022(c)
August 20525.000 %1,150 1,150 — — — 
December 2022(c)
December 20255.000 %500 500 — — — — 
December 2022(c)
December 20275.000 %500 500 — — — — 
First Mortgage Bonds
March 2022(d)
March 20322.850 %500 — 500 — — — 
March 2022(d)
March 20523.550 %650 — 650 — — — 
March 2022(d)
April 20323.400 %500 — — 500 — — 
March 2022(d)
April 20524.000 %

400 — — 400 — — 
November 2022(e)
November 20525.950 %500 — — — 500 — 
Tax-exempt Bonds— — — — — 
June 2022(f)
September 20304.000 %168 168 — — — — 
June 2022(f)
November 20394.250 %234 234 — — — — 
September 2022(g)
October 20463.300 %200 — — 200 — 
September 2022(h)
October 20463.700 %210 — — 210 — 
September 2022(h)
October 20464.000 %42 — — 42 — 
Total issuances$9,186 $5,784 $1,150 $1,352 $500 $400 
(a)Debt issued to repay a portion of short-term debt and for general corporate purposes.
(b)Duke Energy (Parent) issued 600 million euros aggregate principal amount of 3.10% senior notes due June 2028 and 500 million euros aggregate principal amount of 3.85% senior notes due June 2034. Debt issued to repay a $500 million debt maturity, pay down a portion of short-term debt and for general corporate purposes. Duke Energy's obligations under its euro-denominated fixed-rate notes were effectively converted to fixed-rate U.S. dollars at issuance through cross-currency swaps, mitigating foreign currency exchange risk associated with the interest and principal payments. See Note 15 for additional information.
(c)Debt issued to repay a portion of short-term debt and for general corporate purposes.
(d)Debt issued to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework.
(e)Debt issued to repay a portion of short-term debt and for general company purposes.
(f)Debt issued to refund the Ohio Air Quality Development Revenue Refunding bonds, previously held in treasury, which were used to finance or refinance portions of certain solid waste disposal facilities. The mandatory purchase date of these bonds is June 1, 2027.
(g)Debt issued to provide funds to refund the prior bonds, which were used to finance or refinance portions of certain air and water pollution control equipment and solid waste disposal equipment. The mandatory purchase date of these bonds is October 1, 2026.
(h)Debt issued to provide funds to refund the prior bonds, which were used to finance or refinance portions of certain air and water pollution control equipment and solid waste disposal equipment. The mandatory purchase date of these bonds is October 1, 2030.
Duke Energy (Parent) Convertible Senior Notes
In April 2023, Duke Energy (Parent) completed the sale of $1.7 billion 4.125% Convertible Senior Notes due April 2026 (convertible notes). The convertible notes are senior unsecured obligations of Duke Energy, and will mature on April 15, 2026, unless earlier converted or repurchased in accordance with their terms. The convertible notes bear interest at a fixed rate of 4.125% per year, payable semiannually in arrears on April 15 and October 15 of each year, beginning on October 15, 2023. Proceeds were used to repay a portion of outstanding commercial paper and for general corporate purposes.
Prior to the close of business on the business day immediately preceding January 15, 2026, the convertible notes will be convertible at the option of the holders when the following conditions are met:
•during any calendar quarter commencing after the calendar quarter ending on June 30, 2023, (and only during such calendar quarter) if the last reported sale price of Duke Energy common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;
•during the five consecutive business day period after any 10 consecutive trading day period (the measurement period) in which the trading price, as defined, per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of Duke Energy common stock and the conversion rate on each such trading day; or
•upon the occurrence of specified corporate events described in the indenture agreement.
On or after January 15, 2026, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the convertible notes may convert all or any portion of their convertible notes at their option at any time at the conversion rate then in effect, irrespective of these conditions. Duke Energy will settle conversions of the convertible notes by paying cash up to the aggregate principal amount of the convertible notes to be converted and paying or delivering, as the case may be, cash, shares of Duke Energy's common stock, $0.001 par value per share, or a combination of cash and shares of its common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the convertible notes being converted.
The conversion rate for the convertible notes is initially 8.4131 shares of Duke Energy's common stock per $1,000 principal amount of convertible notes. The initial conversion price of the convertible notes represents a premium of approximately 25% over the last reported sale price of Duke Energy’s common stock on the NYSE on April 3, 2023. The conversion rate and the corresponding conversion price will not be adjusted for any accrued and unpaid interest but will be subject to adjustment in some instances, such as stock splits or share combinations, certain distributions to common stockholders, or tender offers at off-market rates. The changes in the conversion rates are intended to make convertible note holders whole for changes in the fair value of Duke Energy common stock resulting from such events. Duke Energy may not redeem the convertible notes prior to the maturity date.
Duke Energy issued the convertible notes pursuant to an indenture, dated as of April 6, 2023, by and between Duke Energy and The Bank of New York Mellon Trust Company, N.A., as trustee. The terms of the convertible notes include customary fundamental change provisions that require repayment of the notes with interest upon certain events, such as a stockholder approved plan of liquidation or if Duke Energy's common stock ceases to be listed on the NYSE.
AVAILABLE CREDIT FACILITIES
Master Credit Facility
In March 2023, Duke Energy amended its existing Master Credit Facility of $9 billion to extend the termination date to March 2028. 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. An amendment in conjunction with the issuance of the Convertible Senior Notes due April 2026 clarifies that payments due as a result of a conversion of a convertible note would not constitute an event of default.
The table below includes the current borrowing sublimits and available capacity under these credit facilities.
 December 31, 2023
DukeDukeDukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergyEnergyEnergy
(in millions) Energy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Facility size(a)
$9,000 $2,275 $1,575 $1,400 $950 $1,050 $950 $800 
Reduction to backstop issuances
Commercial paper(b)
(3,941)(198)(968)(1,041)(152)(638)(406)(538)
Outstanding letters of credit (39)(27)(4)(1)(7)— — — 
Tax-exempt bonds (81)— — — — — (81)— 
Available capacity $4,939 $2,050 $603 $358 $791 $412 $463 $262 
(a)    Represents the sublimit of each borrower.
(b)    Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets.
Duke Energy (Parent) Term Loan Facility
In March 2022, Duke Energy (Parent) entered into a Term Loan Credit Facility (facility) with commitments totaling $1.4 billion maturing March 2024. Borrowings under the facility were used to repay amounts drawn under the Three-Year Revolving Credit Facility and for general corporate purposes, including repayment of a portion of Duke Energy's outstanding commercial paper. The Three-Year Revolving Credit Facility was terminated in March 2022. In December 2022, Duke Energy (Parent) repaid $400 million of the facility. In January 2024, Duke Energy (Parent) repaid the remaining $1 billion outstanding on the facility, which was classified as Current maturities of long-term debt on Duke Energy's Consolidated Balance Sheets as of December 31, 2023.
Other Debt Matters
In September 2022, Duke Energy filed a Form S-3 with the SEC. Under this Form S-3, which is uncapped, the Duke Energy Registrants, excluding Progress Energy, may issue debt and other securities, including preferred stock, in the future at amounts, prices and with terms to be determined at the time of future offerings. The registration statement was filed to replace a similar prior filing upon expiration of its three-year term and also allows for the issuance of common and preferred stock by Duke Energy.
Also in September 2022, to replace another similar prior filing, Duke Energy filed an effective Form S-3 with the SEC to sell up to $4 billion of variable denomination floating-rate demand notes, called PremierNotes. The Form S-3 states that no more than $2 billion of the notes will be outstanding at any particular time. The notes are offered on a continuous basis and bear interest at a floating rate per annum determined by the Duke Energy PremierNotes Committee, or its designee, on a weekly basis. The interest rate payable on notes held by an investor may vary based on the principal amount of the investment. The notes have no stated maturity date, are non-transferable and may be redeemed in whole or in part by Duke Energy or at the investor’s option at any time. The balance as of December 31, 2023, and 2022, was $985 million and $897 million, respectively. The notes are short-term debt obligations of Duke Energy and are reflected as Notes payable and commercial paper on Duke Energy’s Consolidated Balance Sheets.
Money Pool and Intercompany Credit Agreements
The Subsidiary Registrants, excluding Progress Energy, are eligible to receive support for their short-term borrowing needs through participation with Duke Energy and certain of its subsidiaries in a money pool arrangement. Under this arrangement, those companies with short-term funds may provide short-term loans to affiliates participating in this arrangement. The money pool is structured such that the Subsidiary Registrants, excluding Progress Energy, separately manage their cash needs and working capital requirements. Accordingly, there is no net settlement of receivables and payables between money pool participants. Duke Energy (Parent) may loan funds to its participating subsidiaries, but may not borrow funds through the money pool. Accordingly, as the money pool activity is between Duke Energy and its subsidiaries, all money pool balances are eliminated within Duke Energy’s Consolidated Balance Sheets.
Money pool receivable balances are reflected within Notes receivable from affiliated companies on the Subsidiary Registrants’ Consolidated Balance Sheets. Money pool payable balances are reflected within either Notes payable to affiliated companies or Long-Term Debt Payable to Affiliated Companies on the Subsidiary Registrants’ Consolidated Balance Sheets.
In March 2022, Progress Energy closed a revolving credit agreement with Duke Energy (Parent), which allowed up to $2.5 billion in intercompany borrowings.
Restrictive Debt Covenants
The Duke Energy Registrants’ debt and credit agreements contain various financial and other covenants. Duke Energy's Master Credit Facility contains a covenant requiring the debt-to-total capitalization ratio not to exceed 65% for each borrower, excluding Piedmont, and 70% for Piedmont. Failure to meet those covenants beyond applicable grace periods could result in accelerated due dates and/or termination of the agreements. As of December 31, 2023, each of the Duke Energy Registrants were in compliance with all covenants related to their debt agreements. In addition, some credit agreements may allow for acceleration of payments or termination of the agreements due to nonpayment, or acceleration of other significant indebtedness of the borrower or some of its subsidiaries. None of the debt or credit agreements contain material adverse change clauses.
Other Loans
As of December 31, 2023, and 2022, Duke Energy had loans outstanding of $873 million, including $32 million at Duke Energy Progress and $852 million, including $33 million at Duke Energy Progress, respectively, against the cash surrender value of life insurance policies it owns on the lives of its executives. The amounts outstanding were carried as a reduction of the related cash surrender value that is included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
v3.24.0.1
Guarantees and Indemnifications
 12 Months Ended
Dec. 31, 2023
Guarantees [Abstract]  
Guarantees and Indemnifications GUARANTEES AND INDEMNIFICATIONS
Duke Energy has various financial and performance guarantees and indemnifications with non-consolidated entities, which are issued in the normal course of business. As discussed below, these contracts include performance guarantees, standby letters of credit, debt guarantees and indemnifications and include guarantees and indemnifications related to Commercial Renewables Disposal Groups as described in Note 2. Duke Energy enters into these arrangements to facilitate commercial transactions with third parties by enhancing the value of the transaction to the third party. At December 31, 2023, Duke Energy does not believe conditions are likely for significant performance under these guarantees. To the extent liabilities are incurred as a result of the activities covered by the guarantees, such liabilities are included on the accompanying Consolidated Balance Sheets.
On January 2, 2007, Duke Energy completed the spin-off of its previously wholly owned natural gas businesses to shareholders. Guarantees issued by Duke Energy or its affiliates, or assigned to Duke Energy prior to the spin-off, remained with Duke Energy subsequent to the spin-off. Guarantees issued by Spectra Energy Capital, LLC (Spectra Capital) or its affiliates prior to the spin-off remained with Spectra Capital subsequent to the spin-off, except for guarantees that were later assigned to Duke Energy. Duke Energy has indemnified Spectra Capital against any losses incurred under certain of the guarantee obligations that remain with Spectra Capital. At December 31, 2023, the maximum potential amount of future payments associated with these guarantees were $33 million, the majority of which expire by 2028.
In October 2017, ACP executed a $3.4 billion revolving credit facility with a stated maturity date of October 2021. Duke Energy entered into a guarantee agreement to support its share of the ACP revolving credit facility. In July 2020, ACP reduced the size of the credit facility to $1.9 billion. Duke Energy's maximum exposure to loss under the terms of the guarantee was $860 million as of December 31, 2020. This amount represented 47% of the outstanding borrowings under the credit facility and was recognized within Other Current Liabilities on the Consolidated Balance Sheets at December 31, 2020, of which $95 million was previously recognized due the adoption of new guidance for credit losses effective January 1, 2020. In February 2021, Duke Energy paid approximately $855 million to fund ACP's outstanding debt, relieving Duke Energy of its guarantee.
In addition to the Spectra Capital and ACP revolving credit facility guarantees above, Duke Energy has issued performance guarantees to customers and other third parties that guarantee the payment and performance of other parties, including certain non-wholly owned entities, as well as guarantees of debt of certain non-consolidated entities. If such entities were to default on payments or performance, Duke Energy would be required under the guarantees to make payments on the obligations of these entities. The maximum potential amount of future payments required under these guarantees as of December 31, 2023, was $26 million of which all expire between 2024 and 2030, with the remaining performance guarantees having no contractual expiration. Additionally, certain guarantees have uncapped maximum potential payments; however, Duke Energy does not believe these guarantees will have a material effect on its results of operations, cash flows or financial position.
Duke Energy uses bank-issued standby letters of credit to secure the performance of wholly owned and non-wholly owned entities to a third party or customer. Under these arrangements, Duke Energy has payment obligations to the issuing bank that are triggered by a draw by the third party or customer due to the failure of the wholly owned or non-wholly owned entity to perform according to the terms of its underlying contract. At December 31, 2023, Duke Energy had issued a total of $411 million in letters of credit, which expire between 2024 and 2026. There are no unused amounts under these letters of credit.
Duke Energy recognized $2 million as of both December 31, 2023, and 2022, in Other within Other Noncurrent Liabilities on the Consolidated Balance Sheets, for the guarantees discussed above. As current estimates change, additional losses related to guarantees and indemnifications to third parties, which could be material, may be recorded by the Duke Energy Registrants in the future.
v3.24.0.1
Joint Ownership of Generating and Transmission Facilities
 12 Months Ended
Dec. 31, 2023
Joint Ownership Of Generating And Transmission Facilities [Abstract]  
Joint Ownership of Generating and Transmission Facilities JOINT OWNERSHIP OF GENERATING AND TRANSMISSION FACILITIES
The Duke Energy Registrants maintain ownership interests in certain jointly owned generating and transmission facilities and are entitled to a share of the generating capacity and output of each unit equal to their respective ownership interests. The Duke Energy Registrants pay their ownership share of additional construction costs, fuel inventory purchases and operating expenses. The Duke Energy Registrants share of revenues and operating costs of the jointly owned facilities is included within the corresponding line in the Consolidated Statements of Operations. Each participant in the jointly owned facilities must provide its own financing.
The following table presents the Duke Energy Registrants' interest of jointly owned plant or facilities and amounts included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants and are included in the EU&I segment.
 December 31, 2023
Construction
OwnershipProperty, PlantAccumulatedWork in
(in millions except for ownership interest)Interestand EquipmentDepreciationProgress
Duke Energy Carolinas     
Catawba (units 1 and 2)(a)
19.25 %$976 $559 $42 
W.S. Lee CC(b)
87.27 %654 98 2 
Duke Energy Indiana     
Gibson (unit 5)(c)
50.05 %460 263 4 
Vermillion(d)
62.50 %183 119 — 
Transmission and local facilities(c)
Various7,252 1,578 180 
(a)    Jointly owned with North Carolina Municipal Power Agency Number 1, NCEMC and PMPA.
(b)    Jointly owned with NCEMC.
(c)    Jointly owned with WVPA and IMPA.
(d)    Jointly owned with WVPA.
v3.24.0.1
Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations ASSET RETIREMENT OBLIGATIONS
Duke Energy records an ARO when it has a legal obligation to incur retirement costs associated with the retirement of a long-lived asset and the obligation can be reasonably estimated. Certain assets of the Duke Energy Registrants have an indeterminate life, such as transmission and distribution facilities, and thus the fair value of the retirement obligation is not reasonably estimable. A liability for these AROs will be recorded when a fair value is determinable.
The Duke Energy Registrants’ regulated operations accrue costs of removal for property that does not have an associated legal retirement obligation based on regulatory orders from state commissions. These costs of removal are recorded as a regulatory liability in accordance with regulatory accounting treatment. The amount spent may be higher than the amount accrued and result in a net asset. See Note 4 for the estimated cost of removal for assets without an associated legal retirement obligation, which are included in Regulatory liabilities on the Consolidated Balance Sheets.
The following table presents the AROs recorded on the Consolidated Balance Sheets.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Decommissioning of nuclear power facilities
$4,576 $1,949 $2,601 $2,410 $191 $— $— $— 
Closure of ash impoundments4,313 2,010 1,449 1,427 21 73 781 — 
Other267 54 95 33 63 63 28 26 
Total asset retirement obligation$9,156 $4,013 $4,145 $3,870 $275 $136 $809 $26 
Less: Current portion596 224 245 244 1 6 120 — 
Total noncurrent asset retirement obligation$8,560 $3,789 $3,900 $3,626 $274 $130 $689 $26 
Nuclear Decommissioning Liability
AROs related to nuclear decommissioning are based on site-specific cost studies. The NCUC and the PSCSC require Duke Energy Carolinas and Duke Energy Progress update cost estimates for decommissioning their nuclear plants every five years. The nuclear decommissioning liabilities are assessed and updated based on changes in cash flows provided in new studies as well as annual assessments to evaluate whether any indicators suggest a change in the estimate of the ARO is necessary.
The following table summarizes information about the most recent site-specific nuclear decommissioning cost studies. Decommissioning costs are stated in 2023 or 2019 dollars, depending on the year of the cost study, and include costs to decommission plant components not subject to radioactive contamination.
Annual FundingDecommissioning
(in millions)
Requirement(a)
Costs(a)
Year of Cost Study
Duke Energy$4 $8,814 
2023 or 2019
Duke Energy Carolinas(b)(c)
— 4,439 2023
Duke Energy Progress(d)
4 4,181 2019
Duke Energy Florida(e)
— 194 N/A
(a)    Amount represents annual funding requirement for the current fiscal year. Amounts for Progress Energy equal the sum of Duke Energy Progress and Duke Energy Florida.
(b)    Decommissioning costs for Duke Energy Carolinas reflects its ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors.
(c)    Duke Energy Carolinas' site-specific nuclear decommissioning cost study completed in 2023 was filed with the NCUC and PSCSC in 2024. A funding study was last completed and filed in 2019. An updated funding study will be completed and filed with the NCUC and PSCSC in 2024.
(d)    Duke Energy Progress' site-specific nuclear decommissioning cost study completed in 2019 was filed with the NCUC and PSCSC in March 2020. Duke Energy Progress also completed a funding study, which was filed with the NCUC and PSCSC in July 2020. In October 2021, Duke Energy Progress filed the 2019 nuclear decommissioning cost study with the FERC, as well as a revised rate schedule for decommissioning expense to be collected from wholesale customers. The FERC accepted the filing, as filed on December 9, 2021.
(e)    During 2019, Duke Energy Florida reached an agreement to transfer decommissioning work for Crystal River Unit 3 to a third party and decommissioning costs are based on the agreement with this third party rather than a cost study. Regulatory approval was received from the NRC and the FPSC in April 2020 and August 2020, respectively. Duke Energy Florida provides the FPSC periodic reports on the status and progress of decommissioning activities.
Nuclear Decommissioning Trust Funds
Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida each maintain NDTFs that are intended to pay for the decommissioning costs of their respective nuclear power plants. The NDTF investments are managed and invested in accordance with applicable requirements of various regulatory bodies including the NRC, FERC, NCUC, PSCSC, FPSC and the IRS.
Use of the NDTF investments is restricted to nuclear decommissioning activities including license termination, spent fuel and site restoration. The license termination and spent fuel obligations relate to contaminated decommissioning and are recorded as AROs. The site restoration obligation relates to non-contaminated decommissioning and is recorded to cost of removal within Regulatory liabilities on the Consolidated Balance Sheets.
The following table presents the fair value of NDTF assets legally restricted for purposes of settling AROs associated with nuclear decommissioning. Duke Energy Florida entered into an agreement with a third party to decommission Crystal River Unit 3 and was granted an exemption from the NRC, which allows for use of the NDTF for all aspects of nuclear decommissioning. The entire balance of Duke Energy Florida's NDTF may be applied toward license termination, spent fuel and site restoration costs incurred to decommission Crystal River Unit 3 and is excluded from the table below. See Note 17 for additional information related to the fair value of the Duke Energy Registrants' NDTFs.
December 31,
(in millions)20232022
Duke Energy$8,851 $7,466 
Duke Energy Carolinas5,002 4,208 
Duke Energy Progress3,849 3,258 
Nuclear Operating Licenses
As described in Note 4, Duke Energy Carolinas and Duke Energy Progress intend to seek renewal of operating licenses and 20-year license extensions for all of their nuclear stations. The following table includes the current expiration of nuclear operating licenses.
UnitYear of Expiration
Duke Energy Carolinas
Catawba Units 1 and 22043
McGuire Unit 12041
McGuire Unit 22043
Oconee Units 1 and 22033
Oconee Unit 32034
Duke Energy Progress
Brunswick Unit 12036
Brunswick Unit 22034
Harris2046
Robinson2030
The NRC has acknowledged permanent cessation of operation and permanent removal of fuel from the reactor vessel at Crystal River Unit 3. Therefore, the license no longer authorizes operation of the reactor. During 2019, Duke Energy Florida entered into an agreement for the accelerated decommissioning of Crystal River Unit 3. Regulatory approval was received from the NRC and the FPSC in April 2020 and August 2020, respectively. See Note 4 for more information.
Closure of Ash Impoundments
The Duke Energy Registrants are subject to state and federal regulations covering the closure of coal ash impoundments, including the EPA CCR Rule and the Coal Ash Act, and other agreements. AROs recorded on the Duke Energy Registrants' Consolidated Balance Sheets include the legal obligation for closure of coal ash basins and the disposal of related ash as a result of these regulations and agreements.
The ARO amount recorded on the Consolidated Balance Sheets is based upon estimated closure costs for impacted ash impoundments. The amount recorded represents the discounted cash flows for estimated closure costs based upon specific closure plans. Actual costs to be incurred will be dependent upon factors that vary from site to site. The most significant factors are the method and time frame of closure at the individual sites. Closure methods considered include removing the water from ash basins, consolidating material as necessary and capping the ash with a synthetic barrier, excavating and relocating the ash to a lined structural fill or lined landfill or recycling the ash for concrete or some other beneficial use. The ultimate method and timetable for closure will be in compliance with standards set by federal and state regulations and other agreements. The ARO amount will be adjusted as additional information is gained through the closure and post-closure process, including acceptance and approval of compliance approaches, which may change management assumptions, and may result in a material change to the balance. See ARO Liability Rollforward section below for information on revisions made to the coal ash liability during 2023 and 2022.
Asset retirement costs associated with the AROs for operating plants and retired plants are included in Net property, plant and equipment and Regulatory assets, respectively, on the Consolidated Balance Sheets. See Note 4 for additional information on Regulatory assets related to AROs and Note 5 for additional information on commitments and contingencies.
Cost recovery for future expenditures will be pursued through the normal ratemaking process with federal and state utility commissions, which permit recovery of necessary and prudently incurred costs associated with Duke Energy’s regulated operations. See Note 4 for additional information on recovery of coal ash costs.
ARO Liability Rollforward
The following tables present changes in the liability associated with AROs.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2021$12,600 $5,301 $6,112 $5,675 $437 $136 $987 $22 
Accretion expense(a)
501 242 229 215 14 6 30 1 
Liabilities settled(b)
(680)(234)(334)(228)(106)(13)(98)— 
Liabilities incurred in the current year22 — 18 — 18 — 5 — 
Revisions in estimates of cash flows(c)
285 73 156 161 (5)25 27 3 
Balance at December 31, 202212,728 5,382 6,181 5,823 358 154 951 26 
Accretion expense(a)
523 254 237 225 12 7 33 1 
Liabilities settled(b)
(758)(256)(379)(292)(87)(15)(108)— 
Liabilities incurred in the current year29 3 21 6 15 1 4 — 
Revisions in estimates of cash flows(c)
(3,366)(1,370)(1,915)(1,892)(23)(11)(71)(1)
Balance at December 31, 2023$9,156 $4,013 $4,145 $3,870 $275 $136 $809 $26 
(a)    Substantially all accretion expense for the years ended December 31, 2023, and 2022, relates to Duke Energy’s regulated operations and has been deferred in accordance with regulatory accounting treatment.
(b)    Amounts primarily relate to ash impoundment closures and nuclear decommissioning.
(c)    The amounts recorded represent the discounted cash flows for estimated closure costs as evaluated on a site-by-site basis. The increases in 2022 primarily relate to higher unit costs associated with basin closure and routine maintenance. The decreases in 2023 primarily relate to lower discounted cash flows for decommissioning the nuclear power facilities due to changes in estimates and economic assumptions including discount rates, cost escalation rates and cash flow timing, as well as lower unit costs associated with basin closure, routine maintenance and beneficiation activities, as well as reduction in monitoring wells needed.
v3.24.0.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment PROPERTY, PLANT AND EQUIPMENT
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
December 31, 2023
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,345 $581 $1,012 $502 $510 $242 $133 $352 
Plant – Regulated
Electric generation, distribution and transmission 40129,985 48,107 57,436 33,171 24,265 7,243 17,199 — 
Natural gas transmission and distribution 5714,130 — — — — 3,993 — 10,137 
Other buildings and improvements 422,887 1,213 677 377 300 421 355 221 
Nuclear fuel 3,303 1,866 1,437 1,437 — — — — 
Equipment 143,409 870 1,104 654 450 474 442 143 
Construction in process 8,372 2,578 3,941 1,661 2,280 427 427 690 
Other126,920 1,455 2,037 1,481 548 410 344 363 
Total property, plant and equipment(a)
171,351 56,670 67,644 39,283 28,353 13,210 18,900 11,906 
Total accumulated depreciation – regulated(b)(c)
(54,323)(19,896)(22,300)(15,227)(7,067)(3,451)(6,501)(2,259)
Total accumulated depreciation – other(d)
(1,715)— — — — — — — 
Facilities to be retired, net2 — — — — — — 2 
Total net property, plant and equipment $115,315 $36,774 $45,344 $24,056 $21,286 $9,759 $12,399 $9,649 
(a)    Includes finance leases of $697 million, $335 million, $615 million, $552 million, $63 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $292 million, $119 million and $173 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,793 million, $991 million, $802 million and $802 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $3 million, $67 million and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $7 million at Duke Energy.
December 31, 2022
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,232 $565 $993 $496 $497 $230 $124 $295 
Plant – Regulated
Electric generation, distribution and transmission 39126,016 46,640 55,872 33,336 22,536 6,900 16,604 — 
Natural gas transmission and distribution 5613,174 — — — — 3,773 — 9,401 
Other buildings and improvements 402,537 973 647 341 306 398 336 183 
Nuclear fuel 3,081 1,723 1,358 1,358 — — — — 
Equipment 132,959 710 936 567 369 441 356 125 
Construction in process 7,381 2,671 3,073 1,317 1,756 375 381 478 
Other136,459 1,368 1,943 1,460 476 380 320 387 
Total property, plant and equipment(a)
163,839 54,650 64,822 38,875 25,940 12,497 18,121 10,869 
Total accumulated depreciation – regulated(b)(c)
(50,544)(18,669)(20,584)(14,201)(6,377)(3,250)(6,021)(2,081)
Total accumulated depreciation – other(d)
(1,556)— — — — — — — 
Facilities to be retired, net9 — — — — — — 9 
Total net property, plant and equipment $111,748 $35,981 $44,238 $24,674 $19,563 $9,247 $12,100 $8,797 
(a)    Includes finance leases of $816 million, $335 million, $674 million, $590 million, $84 million, and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $233 million, $81 million and $152 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,683 million, $934 million, $749 million and $749 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $7 million, $51 million, and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of ($1 million) at Duke Energy.
Duke Energy has continued to execute on its business transformation strategy, including the evaluation of in-office work policies considering the experience with the COVID-19 pandemic and also workforce realignment of roles and responsibilities. In May 2021, Duke Energy management approved the sale of certain properties and entered into an agreement to exit certain leased space on December 31, 2021. The sale of the properties was subject to abandonment accounting and resulted in an impairment charge. Additionally, the exit of the leased space resulted in the impairment of related furniture, fixtures and equipment. During the year ended December 31, 2021, Duke Energy recorded a pretax charge to earnings of $192 million on the Consolidated Statements of Operations, which includes $133 million within Impairment of assets and other charges, $42 million within Operations, maintenance and other and $17 million within Depreciation and amortization.
The following table presents capitalized interest, which includes the debt component of AFUDC.
Years Ended December 31,
(in millions)202320222021
Duke Energy$201 $118 $66 
Duke Energy Carolinas62 50 29 
Progress Energy41 26 20 
Duke Energy Progress35 19 14 
Duke Energy Florida6 7 6 
Duke Energy Ohio16 14 20 
Duke Energy Indiana(a)
21 3 (17)
Piedmont8 4 9 
(a)    In 2021, Duke Energy Indiana is primarily compromised of ($24 million) of PISCC amortization, which is partially offset by $7 million of the debt component of AFUDC.
v3.24.0.1
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
GOODWILL
Duke Energy
Duke Energy's Goodwill balance of $19.3 billion is allocated $17.4 billion to EU&I and $1.9 billion to GU&I on Duke Energy's Consolidated Balance Sheets at December 31, 2023, and 2022. There are no accumulated impairment charges.
Duke Energy Ohio
Duke Energy Ohio's Goodwill balance of $920 million, allocated $596 million to EU&I and $324 million to GU&I, is presented net of accumulated impairment charges of $216 million on the Consolidated Balance Sheets at December 31, 2023, and 2022.
Progress Energy
Progress Energy's Goodwill is included in the EU&I segment and there are no accumulated impairment charges.
Piedmont
Piedmont's Goodwill is included in the GU&I segment and there are no accumulated impairment charges.
Goodwill Impairment Testing
Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont are required to perform an annual goodwill impairment test as of the same date each year and, accordingly, perform their annual impairment testing of goodwill as of August 31. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont update their test between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. As the fair value for Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont exceeded their respective carrying values at the date of the annual impairment analysis, no goodwill impairment charges were recorded in 2023.
INTANGIBLE ASSETS
The following tables show the carrying amount and accumulated amortization of intangible assets included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2023, and 2022.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 232 97 133 133 — 2 — — 
Other 56 — 5 1 3 — — 22 
Total gross carrying amounts 296 97 143 136 6 2 2 22 
Accumulated amortization – other (14)— (3)— (3)— — (6)
Total intangible assets, net $282 $97 $140 $136 $3 $2 $2 $16 
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 210 84 124 124 — 2 — — 
Other 55 — 4 1 3 — — 22 
Total gross carrying amounts 273 84 133 127 6 2 2 22 
Accumulated amortization – other (8)— (1)— (1)— — (2)
Total intangible assets, net $265 $84 $132 $127 $5 $2 $2 $20 
Amortization Expense
Amortization expense amounts for other intangible assets are immaterial for the years ended December 31, 2023, 2022 and 2021, and are expected to be immaterial for the next five years as of December 31, 2023.
v3.24.0.1
Investments in Unconsolidated Affiliates
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Affiliates INVESTMENTS IN UNCONSOLIDATED AFFILIATES
EQUITY METHOD INVESTMENTS
Investments in affiliates that are not controlled by Duke Energy, but over which it has significant influence, are accounted for using the equity method.
The following table presents Duke Energy’s investments in unconsolidated affiliates accounted for under the equity method, as well as the respective equity in earnings, by segment, for periods presented in this filing.
 Years Ended December 31,
 202320222021
Equity in
Equity in
Equity in
(in millions)Investments
earnings
Investments
earnings
earnings
Electric Utilities and Infrastructure$97 $7 $99 $7 $7 
Gas Utilities and Infrastructure259 40 240 21 8 
Other136 66 116 85 47 
Total$492 $113 $455 $113 $62 
During the years ended December 31, 2023, 2022 and 2021, Duke Energy received distributions from equity investments of $50 million, $111 million and $56 million, respectively, which are included in Other assets within Cash Flows from Operating Activities on the Consolidated Statements of Cash Flows. During the years ended December 31, 2023, 2022 and 2021, Duke Energy received distributions from equity investments of $16 million, $6 million and $14 million, respectively, which are included in Return of investment capital within Cash Flows from Investing Activities on the Consolidated Statements of Cash Flows.
During the years ended December 31, 2023, 2022 and 2021, Piedmont received distributions from equity investments of $9 million, $31 million and $8 million, respectively, which are included in Other assets within Cash Flows from Operating Activities. During the years ended December 31, 2023, and 2021, Piedmont received distributions from equity investments of $1 million and $2 million, respectively, which are included within Cash Flows from Investing Activities on the Consolidated Statements of Cash Flows. Amounts received during the year ended December 31, 2022, included in Cash Flows from Investing Activities on the Consolidated Statements of Cash Flows were immaterial.
Significant investments in affiliates accounted for under the equity method are discussed below.
Electric Utilities and Infrastructure
Duke Energy owns 50% interests in both DATC and Pioneer, which build, own and operate electric transmission facilities in North America.
Gas Utilities and Infrastructure
Pipeline Investments
Piedmont owns a 21.49% investment in Cardinal, an intrastate pipeline located in North Carolina.
Duke Energy owns a 7.5% interest in Sabal Trail, a 517-mile interstate natural gas pipeline, which provides natural gas to Duke Energy Florida and Florida Power and Light.
Storage Facilities
Piedmont owns a 45% interest in Pine Needle, an interstate LNG storage facility located in North Carolina, and a 50% interest in Hardy Storage, an underground interstate natural gas storage facility located in West Virginia.
Renewable Natural Gas Investments
Duke Energy owns a 29.68% investment in SustainRNG, a developer of renewable natural gas projects, a 70% interest in Sustain T&W, SustainRNG's renewable natural gas project located in Georgia, and a 70% interest in Sustain Liberty, SustainRNG's renewable natural gas project located in North Carolina.
Other
Duke Energy has a 17.5% indirect economic ownership interest and a 25% board representation and voting rights interest in NMC, which owns and operates a methanol and MTBE business in Jubail, Saudi Arabia.
v3.24.0.1
Related Party Transactions
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
Related Party Transactions RELATED PARTY TRANSACTIONS
The Subsidiary Registrants engage in related party transactions in accordance with the applicable state and federal commission regulations. Refer to the Consolidated Balance Sheets of the Subsidiary Registrants for balances due to or due from related parties. Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table.
 Years Ended December 31,
(in millions) 202320222021
Duke Energy Carolinas   
Corporate governance and shared service expenses(a)
$823 $838 $894 
Indemnification coverages(b)
34 28 24 
JDA revenue(c)
34 109 41 
JDA expense(c)
177 600 207 
Intercompany natural gas purchases(d)
11 12 11 
Progress Energy 
Corporate governance and shared service expenses(a)
$736 $818 $856 
Indemnification coverages(b)
47 43 41 
JDA revenue(c)
177 600 207 
JDA expense(c)
34 109 41 
Intercompany natural gas purchases(d)
75 76 75 
Duke Energy Progress 
Corporate governance and shared service expenses(a)
$434 $469 $504 
Indemnification coverages(b)
20 20 19 
JDA revenue(c)
177 600 207 
JDA expense(c)
34 109 41 
Intercompany natural gas purchases(d)
75 76 75 
Duke Energy Florida 
Corporate governance and shared service expenses(a)
$302 $349 $352 
Indemnification coverages(b)
27 23 22 
Duke Energy Ohio 
Corporate governance and shared service expenses(a)
$294 $334 $329 
Indemnification coverages(b)
5 5 4 
Duke Energy Indiana 
Corporate governance and shared service expenses(a)
$365 $447 $409 
Indemnification coverages(b)
8 8 8 
Piedmont
Corporate governance and shared service expenses(a)
$149 $155 $139 
Indemnification coverages(b)
4 3 3 
Intercompany natural gas sales(d)
86 88 86 
Natural gas storage and transportation costs(e)
24 23 22 
(a)The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.
(b)The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.
(c)Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Consolidated Statements of Operations and Comprehensive Income.
(d)Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating Revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Consolidated Statements of Operations and Comprehensive Income. These intercompany revenues and expenses are eliminated in consolidation.
(e)Piedmont has related party transactions as a customer of its equity method investments in Pine Needle, Hardy Storage, and Cardinal natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Consolidated Statements of Operations and Comprehensive Income.
In addition to the amounts presented above, the Subsidiary Registrants have other affiliate transactions, including rental of office space, participation in a money pool arrangement, other operational transactions and their proportionate share of certain charged expenses. See Note 7 for more information regarding money pool. These transactions of the Subsidiary Registrants are incurred in the ordinary course of business and are eliminated in consolidation.
As discussed in Note 18, certain trade receivables have been sold by Duke Energy Ohio and Duke Energy Indiana to CRC, an affiliate formed by a subsidiary of Duke Energy. The proceeds obtained from the sales of receivables are largely cash but do include a subordinated note from CRC for a portion of the purchase price.
Intercompany Income Taxes
Duke Energy and the Subsidiary Registrants file a consolidated federal income tax return and other state and jurisdictional returns. The Subsidiary Registrants have a tax sharing agreement with Duke Energy for the allocation of consolidated tax liabilities and benefits. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants.
DukeDukeDukeDukeDuke
EnergyProgressEnergyEnergyEnergyEnergy
(in millions)CarolinasEnergyProgressFloridaOhioIndianaPiedmont
December 31, 2023
Intercompany income tax receivable$— $— $— $— $91 $53 $— 
Intercompany income tax payable81 92 94 114 — — 57 
December 31, 2022
Intercompany income tax receivable$— $95 $36 $17 $— $— $— 
Intercompany income tax payable37 — — — 17 18 38 
v3.24.0.1
Derivatives and Hedging
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging DERIVATIVES AND HEDGING
The Duke Energy Registrants use commodity, interest rate and foreign currency contracts to manage commodity price risk, interest rate risk and foreign currency exchange 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. Foreign currency derivatives are used to manage risk related to foreign currency exchange rates on certain issuances of debt.
All derivative instruments not identified as NPNS are recorded at fair value as assets or liabilities on the Consolidated Balance Sheets. Cash collateral related to derivative instruments executed under master netting arrangements is offset against the collateralized derivatives on the Consolidated Balance Sheets. The cash impacts of settled derivatives are recorded as operating activities or financing activities on the Consolidated Statements of Cash Flows.
INTEREST RATE RISK
The Duke Energy Registrants are exposed to changes in interest rates as a result of their issuance or anticipated issuance of variable-rate and fixed-rate debt and commercial paper. Interest rate risk is managed by limiting variable-rate exposures to a percentage of total debt and by monitoring changes in interest rates. To manage risk associated with changes in interest rates, the Duke Energy Registrants may enter into interest rate swaps, U.S. Treasury lock agreements and other financial contracts. In anticipation of certain fixed-rate debt issuances, a series of forward-starting interest rate swaps or Treasury locks may be executed to lock in components of current market interest rates. These instruments are later terminated prior to or upon the issuance of the corresponding debt.
Cash Flow Hedges
For a derivative designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the effective portion of the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction impacts earnings. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. Gains and losses reclassified out of AOCI for the years ended December 31, 2023, 2022, and 2021, were not material. Duke Energy's interest rate derivatives designated as hedges include forward-starting interest rate swaps not accounted for under regulatory accounting.
Undesignated Contracts
Undesignated contracts primarily include contracts not designated as a hedge because they are accounted for under regulatory accounting or contracts that do not qualify for hedge accounting.
Duke Energy’s interest rate swaps for its regulated operations employ regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the swaps are deferred as regulatory liabilities or regulatory assets, respectively. Regulatory assets and liabilities are amortized consistent with the treatment of the related costs in the ratemaking process. The accrual of interest on the swaps is recorded as Interest Expense on the Duke Energy Registrant's Consolidated Statements of Operations and Comprehensive Income.
The following tables show notional amounts of outstanding derivatives related to interest rate risk.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$2,300 $— $— $— $— $— $— 
Undesignated contracts2,727 1,050 1,250 925 325 400 27 
Total notional amount$5,027 $1,050 $1,250 $925 $325 $400 $27 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$500 $— $— $— $— $— $— 
Undesignated contracts2,377 1,250 800 500 300 300 27 
Total notional amount$2,877 $1,250 $800 $500 $300 $300 $27 
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.
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 cost volatility for customers.
Volumes
The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.
December 31, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)13,608 — — — 1,616 11,992 — 
Natural gas (millions of Dth)846 279 274 274 — 30 263 
December 31, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)14,086 — — — 1,820 12,266 — 
Natural gas (millions of Dth)909 307 292 292 — 11 299 
FOREIGN CURRENCY RISK
Duke Energy may enter into foreign currency derivatives to hedge exposure to changes in foreign currency exchange rates, such as that arising from the issuance of debt denominated in a currency other than U.S. dollars.
Fair Value Hedges
Derivatives related to existing fixed rate securities are accounted for as fair value hedges, where the derivatives’ fair value gains or losses and hedged items’ fair value gains or losses are both recorded directly to earnings on the same income statement line item, including foreign currency gains or losses arising from changes in the U.S. currency exchange rates. Duke Energy has elected to exclude the cross-currency basis spread from the assessment of effectiveness in the fair value hedges of its foreign currency risk and record any difference between the change in the fair value of the excluded components and the amounts recognized in earnings as a component of other comprehensive income or loss.
The following table shows Duke Energy's outstanding derivatives related to foreign currency risk. There were no fair value hedges in 2021.
Fair Value Gain (Loss)(a)
Receive
Hedge
(in millions)
Pay NotionalNotionalReceive
Maturity
Years Ended December 31,
(in millions)Pay Rate(in millions)Rate
Date
20232022
Fair value hedges
$645 4.75 %600 euros3.10 %June 2028$17 (3)
537 5.31 %500 euros3.85 %June 203415 (2)
Total notional amount$1,182 1,100 euros$32 (5)
(a)    Amounts are recorded in Other Income and expenses, net on the Consolidated Statement of Operations, which offsets an equal translation adjustment of the foreign denominated debt. See the Consolidated Statements of Comprehensive Income for amounts excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded.
LOCATION AND FAIR VALUE OF DERIVATIVE ASSETS AND LIABILITIES RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS
The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.
Derivative AssetsDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$25 $1 $3 $1 $2 $1 $18 $1 
Noncurrent57 26 31 31 — — — — 
Total Derivative Assets – Commodity Contracts$82 $27 $34 $32 $2 $1 $18 $1 
Interest Rate Contracts
Designated as Hedging Instruments
Current$31 $— $— $— $— $— $— $— 
Noncurrent17 — — — — — — — 
Not Designated as Hedging Instruments
Current$5 $5 $— $— $— $— $— $— 
Noncurrent10 3 — — — — 7 — 
Total Derivative Assets – Interest Rate Contracts$63 $8 $— $— $— $— $7 $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Noncurrent44 — — — — — — — 
Total Derivative Assets – Foreign Currency Contracts
$44 $— $— $— $— $— $— $— 
Total Derivative Assets$189 $35 $34 $32 $2 $1 $25 $1 
Derivative LiabilitiesDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$354 $177 $138 $138 $— $— $18 $20 
Noncurrent255 67 61 61 — — — 127 
Total Derivative Liabilities – Commodity Contracts$609 $244 $199 $199 $— $— $18 $147 
Interest Rate Contracts
Designated as Hedging Instruments
Current$25 $— $— $— $— $— $— $— 
Noncurrent26 — — — — — — — 
Not Designated as Hedging Instruments
Current13 2 11 11 — — — — 
Noncurrent39 14 24 9 15 1 — — 
Total Derivative Liabilities – Interest Rate Contracts$103 $16 $35 $20 $15 $1 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$17 $— $— $— $— $— $— $— 
Total Derivative Liabilities – Foreign Currency Contracts$17 $— $— $— $— $— $— $— 
Total Derivative Liabilities$729 $260 $234 $219 $15 $1 $18 $147 
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$265 $132 $99 $99 $— $5 $29 $— 
Noncurrent213 104 108 108 — — — — 
Total Derivative Assets – Commodity Contracts$478 $236 $207 $207 $— $5 $29 $— 
Interest Rate Contracts
Designated as Hedging Instruments
Current$101 $— $— $— $— $— $— $— 
Not Designated as Hedging Instruments
Current$216 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets – Interest Rate Contracts$317 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets$795 $330 $248 $230 $17 $5 $110 $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Not Designated as Hedging Instruments
Current$175 $96 $36 $18 $19 $— $16 $27 
Noncurrent202 31 30 30 — — — 141 
Total Derivative Liabilities – Commodity Contracts$377 $127 $66 $48 $19 $— $16 $168 
Interest Rate Contracts
Not Designated as Hedging Instruments
Noncurrent2 — — — — 2 — — 
Total Derivative Liabilities – Interest Rate Contracts$2 $— $— $— $— $2 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$18 $— $— $— $— $— $— $— 
Noncurrent40 — — — — — — — 
Total Derivative Liabilities – Foreign Currency Contracts$58 $— $— $— $— $— $— $— 
Total Derivative Liabilities$437 $127 $66 $48 $19 $2 $16 $168 
OFFSETTING ASSETS AND LIABILITIES
The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The 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 AssetsDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$61 $6 $3 $1 $2 $1 $18 $1 
Offset(2)(1)(1)(1)— — — — 
Net amounts presented in Current Assets: Other$59 $5 $2 $— $2 $1 $18 $1 
Noncurrent
Gross amounts recognized$128 $29 $31 $31 $— $— $7 $— 
Offset(37)(14)(22)(22)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$91 $15 $9 $9 $— $— $7 $— 
Derivative LiabilitiesDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$409 $179 $149 $149 $— $— $18 $20 
Offset(2)(1)(1)(1)— — — — 
Cash collateral posted(96)(48)(30)(30)— — (18)— 
Net amounts presented in Current Liabilities: Other$311 $130 $118 $118 $— $— $— $20 
Noncurrent
Gross amounts recognized$320 $81 $85 $70 $15 $1 $— $127 
Offset(37)(14)(22)(22)— — — — 
Cash collateral posted(66)(38)(28)(28)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$217 $29 $35 $20 $15 $1 $— $127 
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$582 $226 $140 $122 $17 $5 $110 $— 
Offset(33)(15)(18)(18)— — — — 
Cash collateral received(31)(18)(12)(12)— — — — 
Net amounts presented in Current Assets: Other$518 $193 $110 $92 $17 $5 $110 $— 
Noncurrent
Gross amounts recognized$213 $104 $108 $108 $— $— $— $— 
Offset(59)(29)(30)(30)— — — — 
Cash collateral received(38)(11)(27)(27)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$116 $64 $51 $51 $— $— $— $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$193 $96 $36 $18 $19 $— $16 $27 
Offset(33)(15)(18)(18)— — — — 
Cash collateral posted(16)— — — — — (16)— 
Net amounts presented in Current Liabilities: Other$144 $81 $18 $— $19 $— $— $27 
Noncurrent
Gross amounts recognized$244 $31 $30 $30 $— $2 $— $141 
Offset(59)(29)(30)(30)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$185 $2 $— $— $— $2 $— $141 
OBJECTIVE CREDIT CONTINGENT FEATURES
Certain derivative contracts contain objective credit contingent features. These features include the requirement to post cash collateral or letters of credit if specific events occur, such as a credit rating downgrade below investment grade. The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit risk-related payment provisions.
December 31, 2023
DukeDuke
DukeEnergyProgressEnergy
(in millions)EnergyCarolinasEnergyProgress
Aggregate fair value of derivatives in a net liability position$342 $175 $166 $166 
Fair value of collateral already posted144 86 58 58 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered198 89 108 108 
December 31, 2022
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFlorida
Aggregate fair value of derivatives in a net liability position$141 $86 $55 $48 $7 
Fair value of collateral already posted— — — — — 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered141 86 55 48 7 
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.
v3.24.0.1
Investments in Debt and Equity Securities
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Investments in Debt and Equity Securities INVESTMENTS IN DEBT AND EQUITY SECURITIES
Duke Energy’s investments in debt and equity securities are primarily comprised of investments held in (i) the NDTF at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, (ii) the grantor trusts at Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana related to OPEB plans and (iii) Bison. The Duke Energy Registrants classify investments in debt securities as AFS and investments in equity securities as FV-NI.
For investments in debt securities classified as AFS, the unrealized gains and losses are included in other comprehensive income until realized, at which time they are reported 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 December 31, 2023, and 2022.
Other Investments amounts are recorded in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
DUKE ENERGY
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $133 $— $— $215 
Equity securities 4,942 22 7,278 3,658 105 5,871 
Corporate debt securities 12 43 632 1 85 641 
Municipal bonds 6 16 347 — 39 330 
U.S. government bonds 24 65 1,575 2 112 1,423 
Other debt securities 1 13 178 — 18 156 
Total NDTF Investments$4,985 $159 $10,143 $3,661 $359 $8,636 
Other Investments       
Cash and cash equivalents $— $— $31 $— $— $22 
Equity securities 33 — 158 21 16 128 
Corporate debt securities — 6 82 — 12 84 
Municipal bonds 1 2 77 — 3 78 
U.S. government bonds — 2 65 — 2 62 
Other debt securities — 2 47 — 3 41 
Total Other Investments$34 $12 $460 $21 $36 $415 
Total Investments $5,019 $171 $10,603 $3,682 $395 $9,051 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were as follows.
Years Ended December 31,
(in millions)202320222021
FV-NI:
Realized gains$129 $201 $724 
Realized losses146 316 141 
AFS:
Realized gains44 28 56 
Realized losses140 151 54 
DUKE ENERGY CAROLINAS
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2023 December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $51 $— $— $117 
Equity securities 2,886 14 4,196 2,147 51 3,367 
Corporate debt securities 4 35 390 1 62 401 
Municipal bonds — 4 50 — 10 64 
U.S. government bonds 13 33 826 1 51 685 
Other debt securities 1 13 172 — 18 148 
Total NDTF Investments$2,904 $99 $5,685 $2,149 $192 $4,782 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were as follows.
Years Ended December 31,
(in millions)202320222021
FV-NI:
Realized gains$82 $124 $440 
Realized losses79 177 96 
AFS:
Realized gains22 22 38 
Realized losses65 86 37 
PROGRESS ENERGY
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $82 $— $— $98 
Equity securities 2,056 8 3,082 1,511 54 2,504 
Corporate debt securities 8 8 242 — 23 240 
Municipal bonds 6 12 297 — 29 266 
U.S. government bonds 11 32 749 1 61 738 
Other debt securities — — 6 — — 8 
Total NDTF Investments$2,081 $60 $4,458 $1,512 $167 $3,854 
Other Investments       
Cash and cash equivalents $— $— $18 $— $— $11 
Municipal bonds — 1 23 — — 25 
Total Other Investments$— $1 $41 $— $— $36 
Total Investments $2,081 $61 $4,499 $1,512 $167 $3,890 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were as follows.
Years Ended December 31,
(in millions)202320222021
FV-NI:
Realized gains$47 $77 $284 
Realized losses67 139 45 
AFS:
Realized gains22 6 16 
Realized losses75 48 14 
DUKE ENERGY PROGRESS
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $55 $— $— $56 
Equity securities 1,956 8 2,970 1,431 54 2,411 
Corporate debt securities 7 8 229 — 22 230 
Municipal bonds 6 12 297 — 29 266 
U.S. government bonds 10 18 518 1 37 460 
Other debt securities — — 6 — — 7 
Total NDTF Investments$1,979 $46 $4,075 $1,432 $142 $3,430 
Other Investments       
Cash and cash equivalents $— $— $14 $— $— $9 
Total Other Investments$— $— $14 $— $— $9 
Total Investments $1,979 $46 $4,089 $1,432 $142 $3,439 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were as follows.
Years Ended December 31,
(in millions)202320222021
FV-NI:
Realized gains$44 $76 $283 
Realized losses66 136 44 
AFS:
Realized gains20 6 15 
Realized losses70 44 13 
DUKE ENERGY FLORIDA
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF        
Cash and cash equivalents $— $— $27 $— $— $42 
Equity securities 100 — 112 80 — 93 
Corporate debt securities 1 — 13 — 1 10 
U.S. government bonds 1 14 231 — 24 278 
Other debt securities — — — — — 1 
Total NDTF Investments(a)
$102 $14 $383 $80 $25 $424 
Other Investments    
Cash and cash equivalents $— $— $3 $— $— $1 
Municipal bonds — 1 23 — 25 
Total Other Investments$— $1 $26 $— $— $26 
Total Investments $102 $15 $409 $80 $25 $450 
(a)    During the years ended December 31, 2023, and 2022, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were immaterial.
DUKE ENERGY INDIANA
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
 December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
Investments       
Cash and cash equivalents$— $— $1 $— $— $1 
Equity securities 4 — 98 2 16 79 
Corporate debt securities — — 8 — 1 8 
Municipal bonds 1 1 46 — 3 45 
U.S. government bonds — — 10 — — 7 
Total Investments $5 $1 $163 $2 $20 $140 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were immaterial.
DEBT SECURITY MATURITIES
The table below summarizes the maturity date for debt securities.
December 31, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
Due in one year or less$116 $9 $89 $13 $76 $7 
Due after one through five years696 226 391 254 137 20 
Due after five through 10 years598 333 217 204 13 11 
Due after 10 years1,593 870 620 579 41 26 
Total$3,003 $1,438 $1,317 $1,050 $267 $64 
v3.24.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2023
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 the 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 per share practical expedient. The net asset value is derived based on the investment cost, less any impairment, plus or minus changes resulting from observable price changes for an identical or similar investment of the same issuer.
Fair value accounting guidance permits entities to elect to measure certain financial instruments that are not required to be accounted for at fair value, such as equity method investments or the Company’s own debt, at fair value. The Duke Energy Registrants have not elected to record any of these items at fair value.
Valuation methods of the primary fair value measurements disclosed below are as follows.
Investments in equity securities
The majority of investments in equity securities are valued using Level 1 measurements. Investments in equity securities are typically valued at the closing price in the principal active market as of the last business day of the quarter. Principal active markets for equity prices include published exchanges such as the NYSE and Nasdaq Stock Market. Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. There was no after-hours market activity that was required to be reflected in the reported fair value measurements.
Investments in debt securities
Most investments in debt securities are valued using Level 2 measurements because the valuations use interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. If the market for a particular fixed-income security is relatively inactive or illiquid, the measurement is Level 3.
Commodity derivatives
Commodity derivatives with clearinghouses are classified as Level 1. Commodity derivatives with observable forward curves are classified as Level 2. 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 certain 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.
Foreign currency derivatives
Most over-the-counter foreign currency derivatives are valued using financial models that utilize observable inputs for similar instruments and are classified as Level 2. Inputs include forward foreign currency rate curves, notional amounts, foreign currency rates and credit quality of the counterparties.
Other fair value considerations
See Note 2 for further information on the valuation of the Commercial Renewables Disposal Groups. See Note 12 for a discussion of the valuation of goodwill and intangible assets.
DUKE ENERGY
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 15. See Note 16 for additional information related to investments by major security type for the Duke Energy Registrants.
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$133 $133 $— $— $— 
NDTF equity securities7,278 7,241 — — 37 
NDTF debt securities2,732 829 1,903 — — 
Other equity securities158 158 — — — 
Other debt securities271 55 216 — — 
Other cash and cash equivalents31 31 — — — 
Derivative assets189 37 137 15 — 
Total assets10,792 8,484 2,256 15 37 
Derivative liabilities(729)(60)(669)— — 
Net assets
$10,063 $8,424 $1,587 $15 $37 
 December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$215 $215 $— $— $— 
NDTF equity securities5,871 5,829 — — 42 
NDTF debt securities2,550 780 1,770 — — 
Other equity securities128 128 — — — 
Other debt securities265 55 210 — — 
Other cash and cash equivalents22 22 — — — 
Derivative assets795 1 760 34 — 
Total assets9,846 7,030 2,740 34 42 
Derivative liabilities(437)(16)(421)— — 
Net assets
$9,409 $7,014 $2,319 $34 $42 
The following table provides reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
 Years Ended December 31,
(in millions) 20232022
Balance at beginning of period$34 $24 
Purchases, sales, issuances and settlements:
Purchases47 78 
Settlements(72)(36)
Total gains (losses) included on the Consolidated Balance Sheet6 (32)
Balance at end of period$15 $34 
DUKE ENERGY CAROLINAS
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$51 $51 $— $— 
NDTF equity securities4,196 4,159 — 37 
NDTF debt securities1,438 375 1,063 — 
Derivative assets35 — 35 — 
Total assets5,720 4,585 1,098 37 
Derivative liabilities(260)— (260)— 
Net assets$5,460 $4,585 $838 $37 
 December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$117 $117 $— $— 
NDTF equity securities3,367 3,325 — 42 
NDTF debt securities1,298 323 975 — 
Derivative assets330 — 330 — 
Total assets5,112 3,765 1,305 42 
Derivative liabilities(127)— (127)— 
Net assets$4,985 $3,765 $1,178 $42 
PROGRESS ENERGY
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$82 $82 $— $98 $98 $— 
NDTF equity securities3,082 3,082 — 2,504 2,504 — 
NDTF debt securities1,294 454 840 1,252 457 795 
Other debt securities23 — 23 25 — 25 
Other cash and cash equivalents18 18 — 11 11 — 
Derivative assets34 — 34 248 — 248 
Total assets4,533 3,636 897 4,138 3,070 1,068 
Derivative liabilities(234)— (234)(66)— (66)
Net assets$4,299 $3,636 $663 $4,072 $3,070 $1,002 
DUKE ENERGY PROGRESS
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$55 $55 $— $56 $56 $— 
NDTF equity securities2,970 2,970 — 2,411 2,411 — 
NDTF debt securities1,050 266 784 963 225 738 
Other cash and cash equivalents14 14 — 9 9 — 
Derivative assets32 — 32 230 — 230 
Total assets4,121 3,305 816 3,669 2,701 968 
Derivative liabilities(219)— (219)(48)— (48)
Net assets$3,902 $3,305 $597 $3,621 $2,701 $920 
DUKE ENERGY FLORIDA
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$27 $27 $— $42 $42 $— 
NDTF equity securities112 112 — 93 93 — 
NDTF debt securities244 188 56 289 232 57 
Other debt securities23 — 23 25 — 25 
Other cash and cash equivalents3 3 — 1 1 — 
Derivative assets2 — 2 17 — 17 
Total assets411 330 81 467 368 99 
Derivative liabilities(15)— (15)(19)— (19)
Net assets$396 $330 $66 $448 $368 $80 
DUKE ENERGY OHIO
The recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets were not material at December 31, 2023, and 2022.
DUKE ENERGY INDIANA
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$98 $98 $— $— $79 $79 $— $— 
Other debt securities64 — 64 — 60 — 60 — 
Other cash equivalents1 1 — — 1 1 — — 
Derivative assets25 5 7 13 110 — 81 29 
Total assets188 104 71 13 250 80 141 29 
Derivative liabilities(18)(18)— — (16)(16)— — 
Net assets$170 $86 $71 $13 $234 $64 $141 $29 
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
 Derivatives (net)
 Years Ended December 31,
(in millions)20232022
Balance at beginning of period$29 $22 
Purchases, sales, issuances and settlements:
Purchases42 74 
Settlements(68)(32)
Total gains (losses) included on the Consolidated Balance Sheet
10 (35)
Balance at end of period$13 $29 
PIEDMONT
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$1 $1 $— $— $— $— 
Derivative liabilities(147)— (147)(168)— (168)
Net (liabilities) assets$(146)$1 $(147)$(168)$— $(168)
QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
December 31, 2023
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$2 RTO auction pricingFTR price – per MWh$0.36 –$2.11 $0.71 
Duke Energy Indiana
FTRs13 RTO auction pricingFTR price – per MWh(1.05)–9.64 1.26 
Duke Energy
Total Level 3 derivatives$15 
December 31, 2022
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$5 RTO auction pricingFTR price – per MWh$0.89 –$6.25 $3.35 
Duke Energy Indiana
FTRs29 RTO auction pricingFTR price – per MWh0.09 –21.79 2.74 
Duke Energy
Total Level 3 derivatives$34 
OTHER FAIR VALUE DISCLOSURES
The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements.
 December 31, 2023December 31, 2022
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$75,252 $69,790 $69,751 $61,986 
Duke Energy Carolinas16,012 15,077 14,266 12,943 
Progress Energy23,759 22,553 22,439 20,467 
Duke Energy Progress11,714 10,595 11,087 9,689 
Duke Energy Florida10,401 10,123 9,709 8,991 
Duke Energy Ohio3,518 3,310 3,245 2,927 
Duke Energy Indiana4,502 4,230 4,307 3,913 
Piedmont3,668 3,336 3,363 2,940 
(a)    Book value of long-term debt includes $1.0 billion as of December 31, 2023, and $1.2 billion as of December 31, 2022, of unamortized debt discount and premium, net in purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.
At both December 31, 2023, and December 31, 2022, 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.
v3.24.0.1
Variable Interest Entities
 12 Months Ended
Dec. 31, 2023
Variable Interest Entities [Abstract]  
Variable Interest Entities VARIABLE INTEREST ENTITIES
A Variable Interest Entity (VIE) is an entity that is evaluated for consolidation using more than a simple analysis of voting control. The analysis to determine whether an entity is a VIE considers contracts with an entity, credit support for an entity, the adequacy of the equity investment of an entity and the relationship of voting power to the amount of equity invested in an entity. This analysis is performed either upon the creation of a legal entity or upon the occurrence of an event requiring reevaluation, such as a significant change in an entity’s assets or activities. A qualitative analysis of control determines the party that consolidates a VIE. This assessment is based on (i) what party has the power to direct the activities of the VIE that most significantly impact its economic performance and (ii) what party has rights to receive benefits or is obligated to absorb losses that could potentially be significant to the VIE. The analysis of the party that consolidates a VIE is a continual reassessment.
CONSOLIDATED VIEs
The obligations of the consolidated VIEs discussed in the following paragraphs are nonrecourse to the Duke Energy Registrants. The registrants have no requirement to provide liquidity to, purchase assets of or guarantee performance of these VIEs unless noted in the following paragraphs.
No financial support was provided to any of the consolidated VIEs during the years ended December 31, 2023, 2022 and 2021, 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 DERF and DEPR credit facilities are reflected on the Consolidated Balance Sheets as Long-Term Debt. Amounts borrowed under the DEFR credit facility are reflected on the Consolidated Balance Sheets as Current maturities of long-term debt.
The most significant activity that impacts the economic performance of DERF, DEPR and DEFR are the decisions made to manage delinquent receivables. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are considered the primary beneficiaries and consolidate DERF, DEPR and DEFR, respectively, as they make those decisions.
Receivables Financing – CRC
CRC is a bankruptcy remote, special purpose entity indirectly owned by Duke Energy. On a revolving basis, CRC buys certain accounts receivable arising from the sale of electricity, natural gas and related services from Duke Energy Ohio and Duke Energy Indiana. CRC borrows amounts under a credit facility to buy the receivables from Duke Energy Ohio and Duke Energy Indiana. Borrowing availability from the credit facility is limited to the amount of qualified receivables sold to CRC, 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 Consolidated Balance Sheets as Long-Term Debt.
The proceeds Duke Energy Ohio and Duke Energy Indiana receive from the sale of receivables to CRC are approximately 75% cash and 25% in the form of a subordinated note from CRC. The subordinated note is a retained interest in the receivables sold. Depending on collection experience, additional equity infusions to CRC may be required by Duke Energy to maintain a minimum equity balance of $3 million.
CRC is considered a VIE because (i) equity capitalization is insufficient to support its operations, (ii) power to direct the activities that most significantly impact the economic performance of the entity is not held by the equity holder and (iii) deficiencies in net worth of CRC are funded by Duke Energy. The most significant activities that impact the economic performance of CRC are decisions made to manage delinquent receivables. Duke Energy is considered the primary beneficiary and consolidates CRC as it makes these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidate CRC.
Receivables Financing – Credit Facilities
The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.
Duke Energy
Duke EnergyDuke EnergyDuke Energy
CarolinasProgressFlorida
(in millions)CRCDERFDEPRDEFR
Expiration dateFebruary 2025January 2025April 2025April 2024
Credit facility amount$350 $500 $400 $325 
Amounts borrowed at December 31, 2023312 500 400 325 
Amounts borrowed at December 31, 2022350 471 400 250 
Restricted Receivables at December 31, 2023663 991 833 532 
Restricted Receivables at December 31, 2022917 928 793 490 
Nuclear Asset-Recovery Bonds – Duke Energy Florida Project Finance
Duke Energy Florida Project Finance, LLC (DEFPF) is a bankruptcy remote, wholly owned special purpose subsidiary of Duke Energy Florida. DEFPF was formed in 2016 for the sole purpose of issuing nuclear asset-recovery bonds to finance Duke Energy Florida's unrecovered regulatory asset related to Crystal River Unit 3.
In 2016, DEFPF issued senior secured bonds and used the proceeds to acquire nuclear asset-recovery property from Duke Energy Florida. The nuclear asset-recovery property acquired includes the right to impose, bill, collect and adjust a non-bypassable nuclear asset-recovery charge from all Duke Energy Florida retail customers until the bonds are paid in full and all financing costs have been recovered. The nuclear asset-recovery bonds are secured by the nuclear asset-recovery property and cash collections from the nuclear asset-recovery charges are the sole source of funds to satisfy the debt obligation. The bondholders have no recourse to Duke Energy Florida.
DEFPF is considered a VIE primarily because the equity capitalization is insufficient to support its operations. Duke Energy Florida has the power to direct the significant activities of the VIE as described above and therefore Duke Energy Florida is considered the primary beneficiary and consolidates DEFPF.
The following table summarizes the impact of DEFPF on Duke Energy Florida's Consolidated Balance Sheets.
December 31,
(in millions)20232022
Receivables of VIEs$— $6 
Regulatory Assets: Current59 55 
Current Assets: Other37 41 
Other Noncurrent Assets: Regulatory assets803 826 
Current Liabilities: Other8 9 
Current maturities of long-term debt59 56 
Long-Term Debt831 890 
Storm Recovery Bonds – Duke Energy Carolinas NC Storm Funding and Duke Energy Progress NC Storm Funding
Duke Energy Carolinas NC Storm Funding, LLC. (DECNCSF) and Duke Energy Progress NC Storm Funding, LLC. (DEPNCSF) are bankruptcy remote, wholly owned special purpose subsidiaries of Duke Energy Carolinas and Duke Energy Progress, respectively. These entities were formed in 2021 for the sole purpose of issuing storm recovery bonds to finance certain of Duke Energy Carolinas’ and Duke Energy Progress’ unrecovered regulatory assets related to storm costs.
In November 2021, DECNCSF and DEPNCSF issued $237 million and $770 million of senior secured bonds, respectively and used the proceeds to acquire storm recovery property from Duke Energy Carolinas and Duke Energy Progress. The storm recovery property was created by state legislation and NCUC financing orders for the purpose of financing storm costs incurred in 2018 and 2019. The storm recovery property acquired includes the right to impose, bill, collect and adjust a non-bypassable charge from all Duke Energy Carolinas’ and Duke Energy Progress’ retail customers until the bonds are paid in full and all financing costs have been recovered. The storm recovery bonds are secured by the storm recovery property and cash collections from the storm recovery charges are the sole source of funds to satisfy the debt obligation. The bondholders have no recourse to Duke Energy Carolinas or Duke Energy Progress.
DECNCSF and DEPNCSF are considered VIEs primarily because the equity capitalization is insufficient to support their operations. Duke Energy Carolinas and Duke Energy Progress have the power to direct the significant activities of the VIEs as described above and therefore Duke Energy Carolinas and Duke Energy Progress are considered the primary beneficiaries and consolidate DECNCSF and DEPNCSF, respectively.
The following table summarizes the impact of these VIEs on Duke Energy Carolinas’ and Duke Energy Progress’ Consolidated Balance Sheets.
Duke Energy CarolinasDuke Energy Progress
December 31, December 31,
(in millions)
2023
2022
2023
2022
Regulatory Assets: Current$12 $12 $39 $39 
Current Assets: Other9 8 31 29 
Other Noncurrent Assets: Regulatory assets196 208 643 681 
Other Noncurrent Assets: Other1 1 2 2 
Current maturities of long-term debt10 10 34 34 
Current Liabilities: Other3 3 8 8 
Long-Term Debt208 219 680 714 
Purchasing Company – Duke Energy Florida
Duke Energy Florida Purchasing Company, LLC (DEF ProCo) is a wholly owned special purpose subsidiary of Duke Energy Florida. DEF ProCo was formed in 2023 as the primary procurement agent for equipment, materials and supplies for Duke Energy Florida. DEF ProCo interacts with third party suppliers on Duke Energy Florida’s behalf with credit and risk support provided by Duke Energy Florida. DEF ProCo is a qualified reseller under Florida tax law and conveys acquired assets to Duke Energy Florida through leases on each acquired asset.
As of December 31, 2023, Duke Energy Florida’s Consolidated Balance Sheets included Inventory and Accounts Payable for DEF ProCo of $462 million and $188 million, respectively.
NON-CONSOLIDATED VIEs
The following tables summarize the impact of non-consolidated VIEs on the Consolidated Balance Sheets.
 December 31, 2023
 Duke Energy DukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $150 $208 
Investments in equity method unconsolidated affiliates67 — — 
Other noncurrent assets43 — — 
Total assets$110 $150 $208 
Other current liabilities4 — — 
Other noncurrent liabilities5 — — 
Total liabilities9 $— $— 
Net assets
$101 $150 $208 
 December 31, 2022
 Duke EnergyDukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $198 $317 
Investments in equity method unconsolidated affiliates43 — — 
Other noncurrent assets45 — — 
Total assets$88 $198 $317 
Other current liabilities59 — — 
Other noncurrent liabilities47 — — 
Total liabilities$106 $— $— 
Net (liabilities) assets$(18)$198 $317 
The Duke Energy Registrants are not aware of any situations where the maximum exposure to loss significantly exceeds the carrying values shown above.
Natural Gas Investments
Duke Energy has investments in various joint ventures including pipeline and renewable natural gas 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.
CRC
See discussion under Consolidated VIEs for additional information related to CRC.
Amounts included in Receivables from affiliated companies in the above table for Duke Energy Ohio and Duke Energy Indiana reflect their retained interest in receivables sold to CRC. These subordinated notes held by Duke Energy Ohio and Duke Energy Indiana are stated at fair value. Carrying values of retained interests are determined by allocating carrying value of the receivables between assets sold and interests retained based on relative fair value. The allocated bases of the subordinated notes are not materially different than their face value because (i) the receivables generally turnover in less than two months, (ii) credit losses are reasonably predictable due to the broad customer base and lack of significant concentration and (iii) the equity in CRC is subordinate to all retained interests and thus would absorb losses first. The hypothetical effect on fair value of the retained interests assuming both a 10% and a 20% unfavorable variation in credit losses or discount rates is not material due to the short turnover of receivables and historically low credit loss history. Interest accrues to Duke Energy Ohio and Duke Energy Indiana on the retained interests using the acceptable yield method. This method generally approximates the stated rate on the notes since the allocated basis and the face value are nearly equivalent. An impairment charge is recorded against the carrying value of both retained interests and purchased beneficial interest whenever it is determined that an other-than-temporary impairment has occurred.
Key assumptions used in estimating fair value are detailed in the following table.
 Duke Energy OhioDuke Energy Indiana
 2023202220232022
Anticipated credit loss ratio0.6 %0.5 %0.4 %0.3 %
Discount rate6.1 %2.7 %6.1 %2.7 %
Receivable turnover rate13.9 %13.5 %12.0 %11.3 %
The following table shows the gross and net receivables sold.
 Duke Energy OhioDuke Energy Indiana
December 31,December 31,
(in millions)2023202220232022
Receivables sold$361 $423 $351 $508 
Less: Retained interests150 198 208 317 
Net receivables sold$211 $225 $143 $191 
The following table shows sales and cash flows related to receivables sold.
 Duke Energy OhioDuke Energy Indiana
 Years Ended December 31,Years Ended December 31,
(in millions)202320222021202320222021
Sales      
Receivables sold$2,578 $2,562 $2,023 $3,223 $3,744 $2,909 
Loss recognized on sale34 18 10 39 26 13 
Cash flows  
Cash proceeds from receivables sold2,591 2,424 2,018 3,294 3,498 2,909 
Collection fees received1 1 1 2 2 1 
Return received on retained interests19 10 4 25 15 6 
Cash flows from sales of receivables are reflected within Cash Flows From Operating Activities and Cash Flows from Investing Activities on Duke Energy Ohio’s and Duke Energy Indiana’s Consolidated Statements of Cash Flows.
Collection fees received in connection with servicing transferred accounts receivable are included in Operation, maintenance and other on Duke Energy Ohio’s and Duke Energy Indiana’s Consolidated Statements of Operations and Comprehensive Income. The loss recognized on sales of receivables is calculated monthly by multiplying receivables sold during the month by the required discount. The required discount is derived monthly utilizing a three-year weighted average formula that considers charge-off history, late charge history and turnover history on the sold receivables, as well as a component for the time value of money. The discount rate, or component for the time value of money, is the prior month-end Daily Simple SOFR plus a fixed rate of 1%.
v3.24.0.1
Revenue
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
Duke Energy recognizes revenue consistent with amounts billed under tariff offerings or at contractually agreed upon rates based on actual physical delivery of electric or natural gas service, including estimated volumes delivered when billings have not yet occurred. As such, the majority of Duke Energy’s revenues have fixed pricing based on the contractual terms of the published tariffs. Absent decoupling mechanisms, the variability in expected cash flows of the majority of Duke Energy's revenue is attributable to the customer’s volumetric demand and ultimate quantities of energy or natural gas supplied and used during the billing period. The stand-alone selling price of related sales are designed to support recovery of prudently incurred costs and an appropriate return on invested assets and are primarily governed by published tariff rates or contractual agreements approved by relevant regulatory bodies. As described in Note 1, certain excise taxes and franchise fees levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis as part of revenues. Duke Energy elects to account for all other taxes net of revenues.
Performance obligations are satisfied over time as energy or natural gas is delivered and consumed with billings generally occurring monthly and related payments due within 30 days, depending on regulatory requirements. In no event does the timing between payment and delivery of the goods and services exceed one year. Using this output method for revenue recognition provides a faithful depiction of the transfer of electric and natural gas service as customers obtain control of the commodity and benefit from its use at delivery. Additionally, Duke Energy has an enforceable right to consideration for energy or natural gas delivered at any discrete point in time and will recognize revenue at an amount that reflects the consideration to which Duke Energy is entitled for the energy or natural gas delivered.
As described above, the majority of Duke Energy’s tariff revenues are at will and, as such, related contracts with customers have an expected duration of one year or less and will not have future performance obligations for disclosure. Additionally, other long-term revenue streams, including wholesale contracts, generally provide services that are part of a single performance obligation, the delivery of electricity or natural gas. As such, other than material fixed consideration under long-term contracts, related disclosures for future performance obligations are also not applicable.
Duke Energy earns substantially all of its revenues through its reportable segments, EU&I and GU&I.
Electric Utilities and Infrastructure
EU&I earns the majority of its revenues through retail and wholesale electric service through the generation, transmission, distribution and sale of electricity. Duke Energy generally provides retail and wholesale electric service customers with their full electric load requirements or with supplemental load requirements when the customer has other sources of electricity.
Retail electric service is generally marketed throughout Duke Energy’s electric service territory through standard service offers. The standard service offers are through tariffs determined by regulators in Duke Energy's regulated service territory. Each tariff, which is assigned to customers based on customer class, has multiple components such as an energy charge, a demand charge, a basic facilities charge and applicable riders. Duke Energy considers each of these components to be aggregated into a single performance obligation for providing electric service, or in the case of distribution only customers in Duke Energy Ohio, for delivering electricity. Electricity is considered a single performance obligation satisfied over time consistent with the series guidance and is provided and consumed over the billing period, generally one month. Retail electric service is typically provided to at-will customers who can cancel service at any time, without a substantive penalty. Additionally, Duke Energy adheres to applicable regulatory requirements in each jurisdiction to ensure the collectability of amounts billed and appropriate mitigating procedures are followed when necessary. As such, revenue from contracts with customers for such contracts is equivalent to the electricity supplied and billed in that period (including unbilled estimates).
Wholesale electric service is generally provided under long-term contracts using cost-based pricing. FERC regulates costs that may be recovered from customers and the amount of return companies are permitted to earn. Wholesale contracts include both energy and demand charges. For full requirements contracts, Duke Energy considers both charges as a single performance obligation for providing integrated electric service. For contracts where energy and demand charges are considered separate performance obligations, energy and demand are each a distinct performance obligation under the series guidance and are satisfied as energy is delivered and stand-ready service is provided on a monthly basis. This service represents consumption over the billing period and revenue is recognized consistent with billings and unbilled estimates, which generally occur monthly. Contractual amounts owed are typically trued up annually based upon incurred costs in accordance with FERC published filings and the specific customer’s actual peak demand. Estimates of variable consideration related to potential additional billings or refunds owed are updated quarterly.
The majority of wholesale revenues are full requirements contracts where the customers purchase the substantial majority of their energy needs and do not have a fixed quantity of contractually required energy or capacity. As such, related forecasted revenues are considered optional purchases. Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations:
Remaining Performance Obligations
(in millions)20242025202620272028ThereafterTotal
Progress Energy$72 $30 $7 $7 $7 $29 $152 
Duke Energy Progress8 — — — — — 8 
Duke Energy Florida64 30 7 7 7 29 144 
Duke Energy Indiana16 17 17 15 5 — 70 
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
GU&I earns its revenue through retail and wholesale natural gas service through the transportation, distribution and sale of natural gas. Duke Energy generally provides retail and wholesale natural gas service customers with all natural gas load requirements. Additionally, while natural gas can be stored, substantially all natural gas provided by Duke Energy is consumed by customers simultaneously with receipt of delivery.
Retail natural gas service is marketed throughout Duke Energy's natural gas service territory using published tariff rates. The tariff rates are established by regulators in Duke Energy's service territories. Each tariff, which is assigned to customers based on customer class, have multiple components, such as a commodity charge, demand charge, customer or monthly charge and transportation costs. Duke Energy considers each of these components to be aggregated into a single performance obligation for providing natural gas service. For contracts where Duke Energy provides all of the customer’s natural gas needs, the delivery of natural gas is considered a single performance obligation satisfied over time, and revenue is recognized monthly based on billings and unbilled estimates as service is provided and the commodity is consumed over the billing period. Additionally, natural gas service is typically at will and customers can cancel service at any time, without a substantive penalty. Duke Energy also adheres to applicable regulatory requirements to ensure the collectability of amounts billed and receivable and appropriate mitigating procedures are followed when necessary.
Certain long-term individually negotiated contracts exist to provide natural gas service. These contracts are regulated and approved by state commissions. The negotiated contracts may have multiple components, including a natural gas and a demand charge, similar to retail natural gas contracts. Duke Energy considers each of these components to be a single performance obligation for providing natural gas service. This service represents consumption over the billing period, generally one month.
Fixed capacity payments under long-term contracts for the GU&I 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)20242025202620272028ThereafterTotal
Piedmont$66 $61 $51 $49 $46 $195 $468 
Other
The remainder of Duke Energy’s operations is presented as Other, which does not include material revenues from contracts with customers.
Disaggregated Revenues
For the EU&I and GU&I segments, revenue by customer class is most meaningful to Duke Energy as each respective customer class collectively represents unique customer expectations of service, generally has different energy and demand requirements, and operates under tailored, regulatory approved pricing structures. Additionally, each customer class is impacted differently by weather and a variety of economic factors including the level of population growth, economic investment, employment levels, and regulatory activities in each of Duke Energy’s jurisdictions. As such, analyzing revenues disaggregated by customer class allows Duke Energy to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Disaggregated revenues are presented as follows:
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$12,098 $3,409 $6,510 $2,540 $3,970 $947 $1,233 $— 
General7,895 2,670 3,762 1,588 2,174 552 911 — 
Industrial3,416 1,334 1,105 733 372 191 786 — 
Wholesale2,175 492 1,388 1,240 148 46 248 — 
Other revenues962 318 590 325 265 93 157 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$26,546 $8,223 $13,355 $6,426 $6,929 $1,829 $3,335 $— 
Gas Utilities and Infrastructure
Residential$1,226 $— $— $— $— $435 $— $792 
Commercial605 — — — — 154 — 450 
Industrial141 — — — — 26 — 115 
Power Generation— — — — — — — 31 
Other revenues119 — — — — 24 — 95 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,091 $— $— $— $— $639 $— $1,483 
Other
Revenue from contracts with customers$37 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$28,674 $8,223 $13,355 $6,426 $6,929 $2,468 $3,335 $1,483 
Other revenue sources(a)
$386 $65 $189 $62 $107 $39 $64 $145 
Total revenues$29,060 $8,288 $13,544 $6,488 $7,036 $2,507 $3,399 $1,628 
(a)    Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$11,377 $3,275 $5,812 $2,378 $3,434 $862 $1,430 $— 
General7,356 2,396 3,396 1,480 1,916 517 1,049 — 
Industrial3,504 1,251 1,095 770 325 202 956 — 
Wholesale2,856 561 1,785 1,346 439 127 383 — 
Other revenues795 372 994 768 226 61 19 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$25,888 $7,855 $13,082 $6,742 $6,340 $1,769 $3,837 $— 
Gas Utilities and Infrastructure
Residential$1,462 $— $— $— $— $488 $— $974 
Commercial765 — — — — 180 — 585 
Industrial170 — — — — 24 — 144 
Power Generation— — — — — — — 94 
Other revenues360 — — — — 25 — 271 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,757 $— $— $— $— $717 $— $2,068 
Other
Revenue from contracts with customers$30 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$28,675 $7,855 $13,082 $6,742 $6,340 $2,486 $3,837 $2,068 
Other revenue sources(a)
$93 $2 $43 $11 $13 $28 $85 $56 
Total revenues$28,768 $7,857 $13,125 $6,753 $6,353 $2,514 $3,922 $2,124 
(a)    Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$10,097 $3,054 $5,084 $2,156 $2,928 $767 $1,188 $— 
General6,375 2,210 2,883 1,378 1,505 440 825 — 
Industrial2,924 1,145 894 634 260 135 750 — 
Wholesale2,199 472 1,385 1,164 221 56 285 — 
Other revenues879 264 716 387 329 83 86 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$22,474 $7,145 $10,962 $5,719 $5,243 $1,481 $3,134 $— 
Gas Utilities and Infrastructure
Residential$1,131 $— $— $— $— $354 $— $777 
Commercial561 — — — — 143 — 418 
Industrial158 — — — — 20 — 137 
Power Generation— — — — — — — 92 
Other revenues133 — — — — 28 — 45 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,983 $— $— $— $— $545 $— $1,469 
Other
Revenue from contracts with customers$29 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$24,486 $7,145 $10,962 $5,719 $5,243 $2,026 $3,134 $1,469 
Other revenue sources(a)
$135 $(43)$95 $61 $16 $11 $40 $100 
Total revenues$24,621 $7,102 $11,057 $5,780 $5,259 $2,037 $3,174 $1,569 
(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.
The following table presents the reserve for credit losses for trade and other receivables.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2020$146 $23 $37 $23 $14 $4 $3 $12 
Write-Offs(58)(21)(25)(12)(13)— — (9)
Credit Loss Expense53 27 25 11 14 — — 7 
Other Adjustments(20)13 (1)(1)1 — — 5 
Balance at December 31, 2021$121 $42 $36 $21 $16 $4 $3 $15 
Write-Offs(158)(73)(70)(36)(34)— — (12)
Credit Loss Expense160 40 72 17 55 2 1 11 
Other Adjustments93 59 43 42 (1)— — — 
Balance at December 31, 2022$216 $68 $81 $44 $36 $6 $4 $14 
Write-Offs(164)(71)(84)(41)(42)— — (10)
Credit Loss Expense101 35 48 12 37 3 1 7 
Other Adjustments52 24 29 29 — — — — 
Balance at December 31, 2023$205 $56 $74 $44 $31 $9 $5 $11 
Trade and other receivables are evaluated based on an estimate of the risk of loss over the life of the receivable and current and historical conditions using supportable assumptions. Management evaluates the risk of loss for trade and other receivables by comparing the historical write-off amounts to total revenue over a specified period. Historical loss rates are adjusted due to the impact of current conditions, as well as forecasted conditions over a reasonable time period. The calculated write-off rate can be applied to the receivable balance for which an established reserve does not already exist. Management reviews the assumptions and risk of loss periodically for trade and other receivables.
The aging of trade receivables is presented in the table below.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Receivables(a)(b)
$1,273 $399 $401 $280 $121 $4 $22 $108 
Current2,306 680 1,009 612 395 48 87 199 
1-30 days past due275 97 91 41 50 12 14 9 
31-60 days past due78 20 34 23 11 3 7 2 
61-90 days past due47 15 17 10 7 2 4 1 
91+ days past due253 67 69 24 45 46 27 3 
Deferred Payment Arrangements(c)
104 34 43 26 17 6 — — 
Trade and Other Receivables$4,336 $1,312 $1,664 $1,016 $646 $121 $161 $322 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Receivables(a)(b)
$1,457 $486 $355 $232 $123 $20 $28 $160 
Current2,347 577 1,059 637 417 15 52 265 
1-30 days past due261 96 60 15 45 5 17 15 
31-60 days past due123 23 61 49 12 6 2 3 
61-90 days past due74 25 18 9 9 3 11 2 
91+ days past due209 70 74 27 47 26 6 4 
Deferred Payment Arrangements(c)
160 57 62 35 27 4 — 1 
Trade and Other Receivables$4,631 $1,334 $1,689 $1,004 $680 $79 $116 $450 
(a)    Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy or natural gas delivered but not yet billed and are included within Receivables and Receivables of VIEs on the Consolidated Balance Sheets.
(b)    Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, CRC, and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 18 for further information. These receivables for unbilled revenues are $141 million and $197 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2023, and $148 million and $260 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2022.
(c)    Due to ongoing financial hardships impacting customers, Duke Energy has permitted customers to defer payment of past-due amounts through installment payment plans.
v3.24.0.1
Stockholders' Equity
 12 Months Ended
Dec. 31, 2023
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 equity forward sale agreements or convertible debt, were exercised or settled. Duke Energy applies the if-converted method for calculating any potential dilutive effect of the conversion of the outstanding convertible notes on diluted EPS, if applicable. Duke Energy’s participating securities are RSUs that are entitled to dividends declared on Duke Energy common stock during the RSUs vesting periods. Dividends declared on preferred stock are recorded on the Consolidated Statements of Operations as a reduction of net income to arrive at net income available to Duke Energy common stockholders. Dividends accumulated on preferred stock are 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.
Years Ended December 31,
(in millions, except per share amounts)202320222021
Net Income available to Duke Energy common stockholders$2,735 $2,444 $3,802 
Less: (Loss) Income from discontinued operations attributable to Duke Energy common stockholders(1,391)(1,215)200 
Accumulated preferred stock dividends adjustment— — — 
Less: Impact of participating securities6 2 3 
Income from continuing operations available to Duke Energy common stockholders$4,120 $3,657 $3,599 
Loss from discontinued operations, net of tax$(1,455)$(1,323)$(144)
Add: Loss attributable to NCI64 108 344 
(Loss) Income from discontinued operations attributable to Duke Energy common stockholders$(1,391)$(1,215)$200 
Weighted average common shares outstanding – basic and diluted
771 770 769 
EPS from continuing operations available to Duke Energy common stockholders
Basic and Diluted(a)
$5.35 $4.74 $4.68 
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders
   Basic and Diluted(a)
$(1.81)$(1.57)$0.26 
Potentially dilutive items excluded from the calculation(b)
2 2 2 
Dividends declared per common share$4.06 $3.98 $3.90 
Dividends declared on Series A preferred stock per depositary share(c)
$1.437 $1.437 $1.437 
Dividends declared on Series B preferred stock per share(d)
$48.750 $48.750 $48.750 
(a)    For the periods presented subsequent to issuance in April 2023, the convertible notes were excluded from the calculations of diluted
EPS because the effect was antidilutive.
(b)    Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met.
(c)    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.
(d)    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. On September 16, 2024, the First Call Date, and any fifth anniversary of the First Call Date, the dividend rate will reset based on the then current five-year U.S. Treasury rate plus a spread of 3.388%.
Common Stock
In November 2022, 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 a new ATM offering program, including an equity forward sales component. Under the terms of the EDA, Duke Energy may issue and sell shares of common stock through September 2025.
Preferred Stock
The Series A Preferred Stock has no maturity or mandatory redemption date, is not redeemable at the option of the holders and includes separate call options. The first call option allows Duke Energy to call the Series A Preferred Stock at a redemption price of $25.50 per depositary share prior to June 15, 2024, in whole but not in part, at any time within 120 days after a ratings event where a rating agency amends, clarifies or changes the criteria it uses to assign equity credit for securities such as the preferred stock. The second call option allows Duke Energy to call the preferred stock, in whole or in part, at any time, on or after June 15, 2024, at a redemption price of $25 per depositary share. Duke Energy is also required to redeem all accumulated and unpaid dividends if either call option is exercised.
The Series B Preferred Stock has no maturity or mandatory redemption date, is not redeemable at the option of the holders and includes separate call options. The first call option allows Duke Energy to call the Series B Preferred Stock at a redemption price of $1,020 per share, in whole but not in part, at any time within 120 days after a ratings event. The second call option allows Duke Energy to call the preferred stock, in whole or in part, on the First Call Date or any subsequent Reset Date at a redemption price in cash equal to $1,000 per share. Duke Energy is also required to redeem all accumulated and unpaid dividends if either call option is exercised.
Dividends issued on its Series A and Series B Preferred Stock are subject to approval by the Board of Directors. However, the deferral of dividend payments on the preferred stock prohibits the declaration of common stock dividends.
The Series A and Series B Preferred Stock rank, with respect to dividends and distributions upon liquidation or dissolution:
•senior to Common Stock and to each other class or series of capital stock established after the original issue date of the Series A and Series B Preferred Stock that is expressly made subordinated to the Series A and Series B Preferred Stock;
•on a parity with any class or series of capital stock established after the original issue date of the Series A and Series B Preferred Stock that is not expressly made senior or subordinated to the Series A or Series B Preferred Stock;
•junior to any class or series of capital stock established after the original issue date of the Series A and Series B Preferred Stock that is expressly made senior to the Series A or Series B Preferred Stock;
•junior to all existing and future indebtedness (including indebtedness outstanding under Duke Energy's credit facilities, unsecured senior notes, junior subordinated debentures and commercial paper) and other liabilities with respect to assets available to satisfy claims against Duke Energy; and
•structurally subordinated to existing and future indebtedness and other liabilities of Duke Energy's subsidiaries and future preferred stock of subsidiaries.
Holders of Series A and Series B Preferred Stock have no voting rights with respect to matters that generally require the approval of voting stockholders. The limited voting rights of holders of Series A and Series B Preferred Stock include the right to vote as a single class, respectively, on certain matters that may affect the preference or special rights of the preferred stock, except in the instance that Duke Energy elects to defer the payment of dividends for a total of six quarterly full dividend periods for Series A Preferred Stock or three semiannual full dividend periods for Series B Preferred Stock. If dividends are deferred for a cumulative total of six quarterly full dividend periods for Series A Preferred Stock or three semiannual full dividend periods for Series B Preferred Stock, whether or not for consecutive dividend periods, holders of the respective preferred stock have the right to elect two additional Board members to the Board of Directors.
v3.24.0.1
Severance
 12 Months Ended
Dec. 31, 2023
Restructuring and Related Activities [Abstract]  
Severance SEVERANCE
During 2023, as Duke Energy transitions from the foundational work of clean energy strategy planning to the launch of the largest power generation build period in its history, it is streamlining certain functions and changing how it is structured and staffed to ensure the resulting organization reflects best-in-class standards, is optimally aligned with its jurisdictions, and is best positioned to serve its customers, stakeholders and investors. As a result, Duke Energy is extending involuntary severance benefits to certain employees in specific areas as a part of its organizational optimization. For the year ended December 31, 2023, Duke Energy recorded severance charges of approximately $97 million within Operations, maintenance and other on the Consolidated Statements of Income. These charges, along with amortization of severance regulatory deferrals and reversals of certain prior period severance costs, resulted in a total severance charge of $102 million in 2023.
During 2022, Duke Energy identified opportunities to eliminate work and create sustainable savings through a workload reduction initiative with a focus on process improvement through digital technology, governance simplification and elimination of low-value work. As a result, Duke Energy extended involuntary severance benefits to certain employees in specific areas as a part of this initiative.
During 2021, Duke Energy reviewed its operations and identified opportunities for improvement to better serve its customers. This operational review included workforce realignment to ensure the Company is staffed with the right skill sets and number of teammates to execute the long-term vision for Duke Energy. As such, Duke Energy extended involuntary severance benefits to certain employees in specific areas as a part of these workforce realignment efforts.
The following table presents the direct and allocated severance and related charges accrued for 682 employees in 2023, 233 employees in 2022 and 290 employees in 2021 by the Duke Energy Registrants within Operation, maintenance and other on the Consolidated Statements of Operations.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Year Ended December 31, 2023(a)(b)(c)
$102 $53 $33 $21 $12 $3 $6 $4 
Year Ended December 31, 2022(d)(e)
65 40 20 17 3 1 2 2 
Year Ended December 31, 2021(f)(g)
69 33 26 20 6 2 3 2 
(a)    Includes amortization of deferred severance charges of approximately $22 million, $14 million, $8 million and $8 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(b)    Includes adjustments associated with 2021 severance charges of approximately $(6) million, $(2) million, $(3) million, $(2) million, $(1) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively.
(c)    Includes adjustments associated with 2022 severance charges of approximately $(14) million, $(7) million, $(5) million, $(3) million, $(2) million, $(1) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana, respectively.
(d)    Includes amortization of deferred severance charges of approximately $33 million, $22 million, $11 million and $11 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(e)    Includes adjustments associated with 2021 severance charges of approximately $(19) million, $(6) million, $(8) million, $(4) million, $(4) million, $(1) million, $(2) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont, respectively.
(f)    Includes amortization of deferred severance charges of approximately $33 million, $22 million, $11 million and $11 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(g)    Includes adjustments associated with 2018 severance charges of approximately $(3) million, $(2) million and $(1) million for Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
The table below presents the severance liability for past and ongoing severance plans including the plans described above.
DukeDukeDuke
Duke
Duke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)Energy
Carolinas
EnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2021$39 $2 $2 $1 $1 $— $— $— 
Provision/Adjustments33 14 4 3 1 — — 1 
Cash Reductions(8)(1)— — — — — — 
Balance at December 31, 2022$64 $15 $6 $4 $2 $— $— $1 
Provision/Adjustments80 30 13 6 7 1 4 2 
Cash Reductions(42)(10)(3)(2)(1)— — (1)
Balance at December 31, 2023$102 $35 $16 $8 $8 $1 $4 $2 
v3.24.0.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation STOCK-BASED COMPENSATION
The Duke Energy Corporation 2023 Long-Term Incentive Plan (the 2023 Plan) provides for the grant of stock-based compensation awards to employees and outside directors. The 2023 Plan supersedes the Duke Energy Corporation 2015 Long-Term Incentive Plan (the 2015 Plan). No additional grants will be made from the 2015 Plan. The 2023 Plan reserved 15 million shares of common stock for issuance. Duke Energy has historically issued new shares upon exercising or vesting of share-based awards. However, Duke Energy may use a combination of new share issuances and open market repurchases for share-based awards that are exercised or vest in the future. Duke Energy has not determined with certainty the amount of such new share issuances or open market repurchases.
The following table summarizes the total expense recognized by the Duke Energy Registrants, net of tax, for stock-based compensation.
 Years Ended December 31,
(in millions)202320222021
Duke Energy$71 $74 $64 
Duke Energy Carolinas25 27 23 
Progress Energy28 27 24 
Duke Energy Progress17 17 15 
Duke Energy Florida11 10 9 
Duke Energy Ohio5 5 5 
Duke Energy Indiana7 7 6 
Piedmont4 4 3 
Duke Energy's pretax stock-based compensation costs, the tax benefit associated with stock-based compensation expense and stock-based compensation costs capitalized are included in the following table.
 Years Ended December 31,
(in millions)202320222021
RSU awards$54 $58 $49 
Performance awards43 42 39 
Pretax stock-based compensation cost$97 $100 $88 
Stock-based compensation costs capitalized6 5 5 
Stock-based compensation expense$91 $95 $83 
Tax benefit associated with stock-based compensation expense$20 $21 $19 
RESTRICTED STOCK UNIT AWARDS
RSU awards generally vest over periods from immediate to three years. Fair value amounts are based on the market price of Duke Energy's common stock on the grant date. The following table includes information related to RSU awards.
 Years Ended December 31,
 202320222021
Shares granted (in thousands) 670 654 673 
Fair value (in millions)$65 $64 $59 
The following table summarizes information about RSU awards outstanding.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 2022
1,097 $95 
Granted670 97 
Vested(548)95 
Forfeited(104)96 
Outstanding at December 31, 2023
1,115 96 
RSU awards expected to vest1,064 96 
The total grant date fair value of shares vested during the years ended December 31, 2023, 2022 and 2021, was $52 million, $49 million and $45 million, respectively. At December 31, 2023, Duke Energy had $33 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of 23 months.
PERFORMANCE AWARDS
Stock-based performance awards generally vest after three years to the extent performance targets are met. The actual number of shares issued will range from zero to 200% of target shares, depending on the level of performance achieved.
Performance awards contain performance conditions and a market condition. The performance conditions are based on Duke Energy's cumulative adjusted EPS and total incident case rate (total incident case rate is one of our key employee safety metrics). The market condition is based on TSR of Duke Energy relative to a predefined peer group.
Relative TSR is valued using a path-dependent model that incorporates expected relative TSR into the fair value determination of Duke Energy’s performance-based share awards. The model uses three-year historical volatilities and correlations for all companies in the predefined peer group, including Duke Energy, to simulate Duke Energy’s relative TSR as of the end of the performance period. For each simulation, Duke Energy’s relative TSR associated with the simulated stock price at the end of the performance period plus expected dividends within the period results in a value per share for the award portfolio. The average of these simulations is the expected portfolio value per share. Actual life to date results of Duke Energy’s relative TSR for each grant are incorporated within the model. For performance awards granted in 2023, the model used a risk-free interest rate of 4.43%, which reflects the yield on three-year Treasury bonds as of the grant date, and an expected volatility of 28.6% based on Duke Energy's historical volatility over three years using daily stock prices.
The following table includes information related to stock-based performance awards.
 Years Ended December 31,
 202320222021
Shares granted assuming target performance (in thousands)422 408 380 
Fair value (in millions)$42 $40 $33 
The following table summarizes information about stock-based performance awards outstanding and assumes payout at the target level.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 2022
1,033 $97 
Granted422 100 
Vested(298)105 
Forfeited(42)98 
Outstanding at December 31, 2023
1,115 96 
Stock-based performance awards expected to vest1,086 96 
The total grant date fair value of shares vested during the years ended December 31, 2023, 2022 and 2021, was $31 million, $25 million and $25 million, respectively. At December 31, 2023, Duke Energy had $23 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of 22 months.
v3.24.0.1
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
DEFINED BENEFIT RETIREMENT PLANS
Duke Energy and certain subsidiaries maintain, and the Subsidiary Registrants participate in, qualified, non-contributory defined benefit retirement plans, which consist of the Duke Energy Retirement Cash Balance Plan (RCBP) and the Duke Energy Legacy Pension Plan (DELPP) These plans cover most employees using a cash balance formula. Under a cash balance formula, a plan participant accumulates a retirement benefit consisting of pay credits based upon a percentage of current eligible earnings, age or age and years of service and interest credits. Certain employees are eligible for benefits that use a final average earnings formula. Under these final average earnings formulas, a plan participant accumulates a retirement benefit equal to the sum of percentages of their (i) highest three-, four- or five-year average earnings, (ii) highest three-, four- or five-year average earnings in excess of covered compensation per year of participation (maximum of 35 years) or (iii) highest three-year average earnings times years of participation in excess of 35 years. Duke Energy also maintains, and the Subsidiary Registrants participate in, non-qualified, non-contributory defined benefit retirement plans that cover certain executives. The qualified and non-qualified, non-contributory defined benefit plans are closed to new participants.
Duke Energy uses a December 31 measurement date for its defined benefit retirement plan assets and obligations. Actuarial gains experienced by the defined benefit retirement plans in remeasuring plan assets on December 31, 2023, were primarily attributable to actual investment performance that exceeded expected investment performance. Actuarial losses experienced by the defined benefit retirement plans in remeasuring plan obligations as of December 31, 2023 were primarily attributable to the decrease in the discount rate used to measure plan obligations. Actuarial losses experienced by the defined benefit retirement plans in remeasuring plan assets on December 31, 2022, were primarily attributable to actual investment performance that was less than expected investment performance. Actuarial gains experienced by the defined benefit retirement plans in remeasuring plan obligations as of December 31, 2022, were primarily attributable to the increase in the discount rate used to measure plan obligations.
As a result of the application of settlement accounting due to total lump-sum benefit payments exceeding the settlement threshold (defined as the sum of service cost and interest cost on projected benefit obligation components of net periodic benefit costs) for one of its qualified pension plans, Duke Energy recognized settlement charges of $117 million, of which $95 million was recorded to Regulatory Assets within Other Noncurrent Assets on the Consolidated Balance Sheets and $22 million was recorded to Other income and expenses, net, within the Consolidated Statement of Operations as of December 31, 2022.
Settlement charges recognized by the Subsidiary Registrants as of December 31, 2022, which represent amounts allocated by Duke Energy for employees of the Subsidiary Registrants and allocated charges for their proportionate share of settlement charges for employees of Duke Energy's shared services affiliate, and recorded to Regulatory Assets within Other Noncurrent Assets on the Consolidated Balance Sheets were $35 million for Duke Energy Carolinas, $23 million for Progress Energy, $16 million for Duke Energy Progress, $7 million for Duke Energy Florida, $8 million for Duke Energy Indiana and $29 million for Piedmont. Settlement charges recognized by the Subsidiary Registrants as of December 31, 2022, recorded to Other income and expenses, net, within the Consolidated Statement of Operations were $3 million for Duke Energy Carolinas, $5 million for Progress Energy, $5 million for Duke Energy Progress, $1 million for Duke Energy Florida, $5 million for Duke Energy Ohio and $6 million for Piedmont.
The settlement charges reflect the recognition of a pro-rata portion of previously unrecognized actuarial losses, equal to the percentage of reduction in the projected benefit obligation resulting from total lump-sum benefit payments as of December 31, 2022. Settlement charges recognized as a regulatory asset within Other Noncurrent Assets on the Consolidated Balance Sheets are amortized over the average remaining service period for participants in the plan. Amortization of settlement charges is disclosed in the tables below as a component of net periodic pension costs.
Effective December 31, 2022, Duke Energy Florida changed its method for calculating the market related value of plan assets (MRVA) from the fair value method to a method that recognizes changes in fair value of its plan assets over a five-year period. This represents a change in regulatory treatment that will serve to mitigate the impact of market volatility on retail customer rates, resulting in the timing of net periodic pension cost recognition that is more consistent with treatment of the related cost in the ratemaking process. The three-year retrospective impact of this method change of $24 million was recognized by Duke Energy, Progress Energy and Duke Energy Florida, respectively, and was recorded to Other income and expenses, net, within the Consolidated Statement of Operations as of December 31, 2022, and has been disclosed in the tables below as a component of net periodic pension costs.
Net periodic benefit costs disclosed in the tables below represent the cost of the respective benefit plan for the periods presented prior to capitalization of amounts reflected as Net property, plant and equipment, on the Consolidated Balance Sheets. Only the service cost component of net periodic benefit costs is eligible to be capitalized. The remaining non-capitalized portions of net periodic benefit costs are classified as either: (1) service cost, which is recorded in Operations, maintenance and other on the Consolidated Statements of Operations; or as (2) components of non-service cost, which is recorded in Other income and expenses, net on the Consolidated Statements of Operations. Amounts presented in the tables below for the Subsidiary Registrants represent the amounts of pension and other post-retirement benefit cost allocated by Duke Energy for employees of the Subsidiary Registrants. Additionally, the Consolidated Statements of Operations of the Subsidiary Registrants also include allocated net periodic benefit costs for their proportionate share of pension and post-retirement benefit cost for employees of Duke Energy’s shared services affiliate that provide support to the Subsidiary Registrants. However, in the tables below, these amounts are only presented within the Duke Energy column (except for amortization of settlement charges). These allocated amounts are included in the governance and shared service costs discussed in Note 14.
Duke Energy’s policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants. The following table includes information related to the Duke Energy Registrants’ contributions to its qualified defined benefit pension plans. There were no contributions made in the year ended December 31, 2021.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Contributions Made:
2023$100 $26 $22 $13 $9 $5 $8 $3 
202258 15 13 8 5 3 5 2 
QUALIFIED PENSION PLANS
Components of Net Periodic Pension Costs
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$117 $38 $33 $19 $13 $3 $6 $4 
Interest cost on projected benefit obligation344 84 107 49 57 18 27 9 
Expected return on plan assets(588)(160)(198)(93)(104)(24)(40)(20)
Amortization of actuarial loss10 2 4 2 2 — 2 — 
Amortization of prior service credit(14)(1)— — — — (2)(7)
Amortization of settlement charges
19 9 5 3 1 — 1 4 
Net periodic pension costs(a)(b)
$(112)$(28)$(49)$(20)$(31)$(3)$(6)$(10)
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$152 $48 $43 $25 $17 $4 $9 $5 
Interest cost on projected benefit obligation249 59 77 35 41 13 20 8 
Expected return on plan assets(558)(152)(183)(88)(94)(23)(37)(24)
Amortization of actuarial loss81 16 23 12 12 4 9 5 
Amortization of prior service credit(18)(3)— — — — (2)(7)
Amortization of settlement charges(c)
32 9 8 7 1 5 1 7 
MRVA method change24 — 24 — 24 — — — 
Net periodic pension costs(a)(b)
$(38)$(23)$(8)$(9)$1 $3 $— $(6)
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$176 $56 $50 $29 $21 $5 $10 $6 
Interest cost on projected benefit obligation220 51 70 30 39 13 18 7 
Expected return on plan assets(558)(141)(187)(84)(102)(28)(40)(20)
Amortization of actuarial loss133 29 38 18 20 7 13 10 
Amortization of prior service credit(29)(8)(2)(1)(1)(1)(2)(9)
Amortization of settlement charges
9 5 2 2 1 — — 1 
Net periodic pension costs(a)(b)
$(49)$(8)$(29)$(6)$(22)$(4)$(1)$(5)
(a)    Duke Energy amounts exclude $3 million, $3 million and $3 million for the years ended December 2023, 2022 and 2021, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2023, 2022 and 2021, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(c)    Includes settlement charges not deferred as a regulatory asset.
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)$5 $(14)$8 $— $9 $(3)$(2)$13 
Accumulated other comprehensive loss (income)
Deferred income tax expense$— $— $— $— $— $— $— $— 
Amortization of prior year actuarial losses(2)— — — — — — — 
Net amount recognized in accumulated other comprehensive income$(2)$— $— $— $— $— $— $— 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)
$367 $221 $107 $101 $5 $(1)$(12)$9 
Accumulated other comprehensive loss (income)
Deferred income tax expense$(7)$— $(1)$— $— $— $— $— 
Amortization of prior year actuarial losses37 — 2 — — — — — 
Net amount recognized in accumulated other comprehensive income$30 $— $1 $— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $6,358 $1,554 $1,975 $909 $1,055 $333 $499 $170 
Service cost110 36 30 18 12 3 6 3 
Interest cost344 84 107 49 57 18 27 9 
Actuarial loss
94 11 47 18 29 2 4 9 
Benefits paid(607)(177)(159)(80)(78)(31)(40)(16)
Transfers— 6 (10)(3)(6)— — — 
Obligation at measurement date$6,299 $1,514 $1,990 $911 $1,069 $325 $496 $175 
Accumulated Benefit Obligation at measurement date$6,267 $1,517 $1,975 $912 $1,053 $317 $494 $176 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$6,993 $1,815 $2,371 $1,083 $1,271 $323 $501 $203 
Employer contributions100 26 22 13 9 5 8 3 
Actual return on plan assets676 183 229 107 120 29 45 23 
Benefits paid(607)(177)(159)(80)(78)(31)(40)(16)
Transfers— 6 (10)(3)(6)— — — 
Plan assets at measurement date$7,162 $1,853 $2,453 $1,120 $1,316 $326 $514 $213 
Funded status of plan$863 $339 $463 $209 $247 $1 $18 $38 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $8,207 $1,903 $2,560 $1,153 $1,392 $450 $680 $273 
Service cost145 47 40 24 16 4 8 5 
Interest cost249 59 77 35 41 13 20 8 
Actuarial gain(1,490)(301)(513)(197)(312)(84)(143)(47)
Benefits paid(753)(159)(184)(101)(82)(50)(66)(69)
Transfers— 5 (5)(5)— — — — 
Obligation at measurement date$6,358 $1,554 $1,975 $909 $1,055 $333 $499 $170 
Accumulated Benefit Obligation at measurement date$6,324 $1,556 $1,959 $910 $1,038 $327 $495 $170 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$9,235 $2,365 $3,053 $1,421 $1,610 $438 $669 $334 
Employer contributions58 15 13 8 5 3 5 2 
Actual return on plan assets(1,547)(411)(506)(240)(262)(68)(107)(64)
Benefits paid(753)(159)(184)(101)(82)(50)(66)(69)
Transfers— 5 (5)(5)— — — — 
Plan assets at measurement date$6,993 $1,815 $2,371 $1,083 $1,271 $323 $501 $203 
Funded status of plan$635 $261 $396 $174 $216 $(10)$2 $33 
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$863 $339 $463 $209 $247 $74 $105 $38 
Noncurrent pension liability(b)
$— $— $— $— $— $73 $87 $— 
Net asset (liability) recognized$863 $339 $463 $209 $247 $1 $18 $38 
Regulatory assets$2,021 $531 $678 $353 $325 $89 $176 $97 
Accumulated other comprehensive (income) loss 
Deferred income tax benefit$(27)$— $(1)$— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial loss127 — 3 — — — 2 — 
Net amounts recognized in accumulated other comprehensive loss$99 $— $2 $— $— $— $2 $— 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$885 $261 $396 $174 $216 $62 $90 $33 
Noncurrent pension liability(b)
$250 $— $— $— $— $72 $88 $— 
Net asset (liability) recognized$635 $261 $396 $174 $216 $(10)$2 $33 
Regulatory assets$2,016 $545 $670 $353 $316 $92 $178 $84 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$(27)$— $(1)$— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial loss129 — 3 — — — — — 
Net amounts recognized in accumulated other comprehensive loss$101 $— $2 $— $— $— $— $— 
(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
December 31, 2023
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$105 $208 
Accumulated benefit obligation100 203 
Fair value of plan assets31 121 
December 31, 2022
DukeDuke
DukeEnergyEnergy
(in millions)EnergyOhioIndiana
Projected benefit obligation$3,323 $103 $198 
Accumulated benefit obligation3,288 99 193 
Fair value of plan assets3,073 31 110 
Assumptions Used for Pension Benefits Accounting
The discount rate used to determine the current year pension obligation and following year’s pension expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high-quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates the present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected.
The RCBP contains a mostly active participant population while the DELPP contains a mostly inactive participant population. The average remaining service period for RCBP participants is nine years and the average life expectancy of DELPP participants is 15 years. Unrecognized net actuarial gains/losses and prior service credit are amortized over 12 years for Duke Energy and Duke Energy Florida, 14 years for Duke Energy Ohio, 13 years for Duke Energy Indiana, 11 years for Duke Energy Carolinas, Progress Energy and Duke Energy Progress and nine years for Piedmont.
The following tables present the assumptions or range of assumptions used for pension benefit accounting.
December 31,
202320222021
Benefit Obligations
Discount rate5.40%5.60%2.90%
Interest crediting rate4.15%4.35%4.00%
Salary increase 3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Net Periodic Benefit Cost
Discount rate5.60%2.90 %–5.70%2.60%
Interest crediting rate4.35%4.00%4.00%
Salary increase3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Expected long-term rate of return on plan assets6.50 %–8.25 %6.50%6.50%
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2024$634 $176 $180 $95 $84 $31 $45 $18 
2025624 171 182 97 84 30 44 16 
2026601 162 177 89 86 30 43 16 
2027582 153 175 87 86 29 42 15 
2028565 146 171 84 86 29 42 15 
2029-2033
2,481 590 779 355 420 131 200 73 
NON-QUALIFIED PENSION PLANS
The accumulated benefit obligation, which equals the projected benefit obligation for non-qualified pension plans, was $224 million for Duke Energy, $10 million for Duke Energy Carolinas, $78 million for Progress Energy, $23 million for Duke Energy Progress, $31 million for Duke Energy Florida, $2 million for Duke Energy Ohio, $2 million for Duke Energy Indiana and $2 million for Piedmont as of December 31, 2023.
Employer contributions, which equal benefits paid for non-qualified pension plans, were $24 million for Duke Energy, $1 million for Duke Energy Carolinas, $8 million for Progress Energy, $3 million for Duke Energy Progress and $3 million for Duke Energy Florida for the year ended December 31, 2023. Employer contributions were not material for Duke Energy Ohio, Duke Energy Indiana or Piedmont for the year ended December 31, 2023.
Net periodic pension costs for non-qualified pension plans were not material for the years ended December 31, 2023, 2022 or 2021.
OTHER POST-RETIREMENT BENEFIT PLANS
Duke Energy provides, and the Subsidiary Registrants participate in, some health care and life insurance benefits for retired employees on a contributory and non-contributory basis. Employees are eligible for these benefits if they have satisfied the applicable eligibility requirements (e.g., age and service) at retirement, as defined in the plans. The health care benefits include medical, dental, vision and prescription drug coverage and are subject to certain limitations, such as deductibles and copayments.
Duke Energy did not make any pre-funding contributions to its other post-retirement benefit plans during the years ended December 31, 2023, 2022 or 2021.
Components of Net Periodic Other Post-Retirement Benefit Costs
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$2 $1 $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation22 5 9 5 4 1 1 1 
Expected return on plan assets(11)(7)— — — — — (2)
Amortization of actuarial (gain) loss
(6)(3)8 5 2 (2)(3)— 
Amortization of prior service credit(23)(5)(11)(6)(5)— (5)— 
Net periodic post-retirement benefit costs (a)(b)
$(16)$(9)$6 $4 $1 $(1)$(7)$(1)
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$3 $1 $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation17 4 7 4 3 1 1 1 
Expected return on plan assets(10)(6)— — — — — (2)
Amortization of actuarial loss2 — 1 1 1 — — — 
Amortization of prior service credit(8)(3)(2)(1)(1)— — (2)
Net periodic post-retirement benefit costs(a)(b)
$4 $(4)$6 $4 $3 $1 $1 $(3)
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$4 $1 $1 $— $— $— $1 $— 
Interest cost on accumulated post-retirement benefit obligation18 4 7 4 3 1 1 1 
Expected return on plan assets(11)(7)— — — — — (2)
Amortization of actuarial loss2 — 1 — 1 — 4 — 
Amortization of prior service credit(13)(4)(2)(1)(1)(1)(1)(2)
Net periodic post-retirement benefit costs(a)(b)
$— $(6)$7 $3 $3 $— $5 $(3)
(a)    Duke Energy amounts exclude $4 million, $4 million and $5 million for the years ended December 2023, 2022 and 2021, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2023, 2022 and 2021, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)
$73 $79 $(7)$(5)$— $(2)$(2)$1 
Regulatory liabilities, net increase (decrease)$41 $62 $— $— $— $(4)$(8)$— 
Accumulated other comprehensive (income) loss
Amortization of prior year service credit$1 $— $— $— $— $— $— $— 
Amortization of prior year actuarial gain— — (1)— — — — — 
Net amount recognized in accumulated other comprehensive income$1 $— $(1)$— $— $— $— $— 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase$(79)$— $(80)$(45)$(36)$— $(3)$— 
Regulatory liabilities, net increase (decrease)
$27 $— $— $— $— $— $19 $(5)
Accumulated other comprehensive (income) loss
Amortization of prior year actuarial gain$1 $— $— $— $— $— $— $— 
Net amount recognized in accumulated other comprehensive income$1 $— $— $— $— $— $— $— 
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$437 $112 $168 $95 $69 $20 $30 $21 
Service cost2 1 — — — — — — 
Interest cost22 5 9 5 4 1 1 1 
Plan participants' contributions4 1 1 1 1 — — — 
Actuarial (gains) losses
(10)(2)(10)(6)(4)1 (1)1 
Transfers  (50)(34)— — — — — (6)
Benefits paid(58)(14)(22)(11)(10)(3)(6)(2)
Accumulated post-retirement benefit obligation at measurement date$347 $69 $146 $84 $60 $19 $24 $15 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$162 $105 $— $(2)$(2)$7 $3 $31 
401(h) asset transfers— (8)— — — — — — 
Actual return on plan assets19 8 — — — 1 — 4 
Benefits paid(58)(14)(22)(11)(10)(3)(6)(2)
Transfers(13)4 — — — — — (7)
Employer contributions42 6 20 11 10 2 6 1 
Plan participants' contributions4 1 1 1 1 — — — 
Plan assets at measurement date$156 $102 $(1)$(1)$(1)$7 $3 $27 
Funded status of plan$(191)$33 $(147)$(85)$(61)$(12)$(21)$12 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$625 $149 $263 $147 $112 $25 $54 $27 
Service cost3 1 — — — — — — 
Interest cost17 4 7 4 3 1 1 1 
Plan participants' contributions11 2 4 2 2 1 1 — 
Actuarial gains(80)(17)(43)(27)(16)(3)(1)(5)
Plan amendments(71)(11)(37)(18)(19)— (17)— 
Benefits paid(68)(16)(26)(13)(13)(4)(8)(2)
Accumulated post-retirement benefit obligation at measurement date$437 $112 $168 $95 $69 $20 $30 $21 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$211 $135 $(1)$(2)$(2)$9 $6 $39 
Actual return on plan assets(31)(19)— — — (2)— (7)
Benefits paid(68)(16)(26)(13)(13)(4)(8)(2)
Employer contributions39 3 23 11 11 3 4 1 
Plan participants' contributions11 2 4 2 2 1 1 — 
Plan assets at measurement date$162 $105 $— $(2)$(2)$7 $3 $31 
Funded status of plan$(275)$(7)$(168)$(97)$(71)$(13)$(27)$10 
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$— $61 $— $— $— $1 $— $12 
Current post-retirement liability(a)
12 3 5 3 2 1 — — 
Noncurrent post-retirement liability(b)
179 25 142 82 59 12 21 — 
Net liability (asset) recognized$191 $(33)$147 $85 $61 $12 $21 $(12)
Regulatory assets$123 $79 $39 $29 $11 $2 $23 $1 
Regulatory liabilities$230 $106 $— $— $— $17 $74 $— 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Net actuarial gain(13)— (1)— — — — — 
Net amounts recognized in accumulated other comprehensive income$(10)$— $(1)$— $— $— $— $— 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$— $— $— $— $— $1 $— $10 
Current post-retirement liability(a)
9 — 5 3 2 2 — — 
Noncurrent post-retirement liability(b)
266 7 163 94 69 12 27 — 
Net liability (asset) recognized$275 $7 $168 $97 $71 $13 $27 $(10)
Regulatory assets$50 $— $46 $34 $11 $4 $25 $— 
Regulatory liabilities$189 $44 $— $— $— $21 $82 $— 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial gain(13)— — — — — — — 
Net amounts recognized in accumulated other comprehensive income$(11)$— $— $— $— $— $— $— 
(a)    Included in Other within Current Liabilities on the Consolidated Balance Sheets. 
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Assumptions Used for Other Post-Retirement Benefits Accounting
The discount rate used to determine the current year other post-retirement benefits obligation and following year’s other post-retirement benefits expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high-quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates the present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected.
The average remaining service period of active covered employees is seven years for Duke Energy, Duke Energy Carolinas and Duke Energy Florida, six years for Duke Energy Ohio, Duke Energy Indiana and Piedmont and five years for Progress Energy and Duke Energy Progress.
The following tables present the assumptions used for other post-retirement benefits accounting.
December 31,
202320222021
Benefit Obligations
Discount rate5.40 %5.60 %2.90 %
Net Periodic Benefit Cost
Discount rate5.60 %2.90 %2.60 %
Expected long-term rate of return on plan assets6.50 %–8.25 %6.50 %6.50 %
Assumed Health Care Cost Trend Rate
December 31,
20232022
Health care cost trend rate assumed for next year – pre-65 trend
6.50 %6.50 %
Health care cost trend rate assumed for next year – post-65 trend
— %6.50 %
Rate to which the cost trend is assumed to decline (the ultimate trend rate)4.75 %4.75 %
Year that rate reaches ultimate trend
2031-2032
2030-2032
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2024$57 $14 $18 $11 $8 $3 $4 $2 
202547 11 17 10 7 3 3 2 
202642 10 15 9 6 3 3 2 
202737 8 14 8 6 2 3 2 
202834 7 13 8 5 2 2 2 
2029-2033
124 23 55 32 23 7 8 7 
PLAN ASSETS
Description and Allocations
Duke Energy Corporation Master Retirement Trust
Assets for both the qualified pension and other post-retirement benefits are maintained in the Duke Energy Corporation Master Retirement Trust. Approximately 98% of the Duke Energy Corporation Master Retirement Trust assets were allocated to qualified pension plans and approximately 2% were allocated to other post-retirement plans (comprised of 401(h) accounts), as of December 31, 2023, and 2022. The investment objective of the Duke Energy Corporation Master Retirement Trust is to invest in a diverse portfolio of assets that is expected to generate positive surplus return over time (i.e., asset growth greater than liability growth) subject to a prudent level of portfolio risk, for the purpose of enhancing the security of benefits for plan participants.
As of December 31, 2023, Duke Energy assumes qualified pension and other post-retirement plan assets will generate a long-term rate of return of 8.50% for the RCBP pension and RCBP 401(h) account assets and 7.00% for the DELPP pension and DELPP 401(h) account assets. The expected long-term rate of return was developed using a weighted average calculation of expected returns based primarily on future expected returns across asset classes considering the use of active asset managers, where applicable. The asset allocation targets were set after considering the investment objective and the risk profile. Equity securities are held for their higher expected returns. Debt securities are primarily held to hedge the qualified pension plan. Return seeking debt securities, hedge funds and other global securities are held for diversification. Investments within asset classes are diversified to achieve broad market participation and reduce the impact of individual managers or investments.
Effective January 1, 2024, the target asset allocation for the RCBP assets is 35% liability hedging and 65% return-seeking assets and the target asset allocation for the DELPP assets is 80% liability hedging assets and 20% return-seeking assets. Duke Energy periodically reviews its asset allocation targets, and over time, as the funded status of the benefit plans increase, the level of asset risk relative to plan liabilities may be reduced to better manage Duke Energy's benefit plan liabilities and reduce funded status volatility.
The Duke Energy Corporation Master Retirement Trust is authorized to engage in the lending of certain plan assets. Securities lending is an investment management enhancement that utilizes certain existing securities of the Duke Energy Corporation Master Retirement Trust to earn additional income. Securities lending involves the loaning of securities to approved parties. In return for the loaned securities, the Duke Energy Corporation Master Retirement Trust receives collateral in the form of cash and securities as a safeguard against possible default of any borrower on the return of the loan under terms that permit the Duke Energy Corporation Master Retirement Trust to sell the securities. The Duke Energy Corporation Master Retirement Trust mitigates credit risk associated with securities lending arrangements by monitoring the fair value of the securities loaned, with additional collateral obtained or refunded as necessary. Effective December 31, 2023, the Duke Energy Corporation Master Retirement Trust discontinued lending plan assets. The fair value of securities on loan was approximately $2 million and $390 million at December 31, 2023, and 2022, respectively. Cash and securities obtained as collateral exceeded the fair value of the securities loaned at December 31, 2023, and 2022, respectively. Securities lending income earned by the Duke Energy Corporation Master Retirement Trust was immaterial for the years ended December 31, 2023, 2022 and 2021, respectively.
Qualified pension and other post-retirement benefits for the Subsidiary Registrants are derived from the Duke Energy Corporation Master Retirement Trust, as such, each are allocated their proportionate share of the assets discussed below.
The following table includes the target asset allocations by asset class at December 31, 2023, and the actual asset allocations for the RCBP assets.
Actual Allocation at
TargetDecember 31,
Allocation20232022
Global equity securities45 %45 %49 %
Global private equity securities2 %2 %2 %
Debt securities35 %35 %30 %
Return seeking debt securities7 %6 %7 %
Hedge funds4 %4 %6 %
Real estate and cash7 %8 %6 %
Total100 %100 %100 %
The following table includes the target asset allocations by asset class at December 31, 2023, and the actual asset allocations for the DELPP assets.
Actual Allocation at
TargetDecember 31,
Allocation20232022
Global equity securities14 %14 %14 %
Global private equity securities1 %— %— %
Debt securities80 %79 %80 %
Return seeking debt securities2 %2 %2 %
Hedge funds1 %2 %2 %
Real estate and cash2 %3 %2 %
Total100 %100 %100 %
Other post-retirement assets
Duke Energy's other post-retirement assets are comprised of Voluntary Employees' Beneficiary Association (VEBA) trusts and 401(h) accounts held within the Duke Energy Corporation Master Retirement Trust. Duke Energy's investment objective is to achieve sufficient returns, subject to a prudent level of portfolio risk, for the purpose of promoting the security of plan benefits for participants.
The following table presents target and actual asset allocations for the VEBA trusts at December 31, 2023.
Actual Allocation at
TargetDecember 31,
Allocation20232022
U.S. equity securities29 %30 %12 %
Non-U.S. equity securities15 %15 %5 %
Real estate5 %7 %3 %
Debt securities47 %30 %11 %
Cash4 %18 %69 %
Total100 %100 %100 %
Fair Value Measurements
Duke Energy classifies recurring and non-recurring fair value measurements based on the fair value hierarchy as discussed in Note 17.
Valuation methods of the primary fair value measurements disclosed below are as follows:
Investments in equity securities
Investments in equity securities are typically valued at the closing price in the principal active market as of the last business day of the reporting period. Principal active markets for equity prices include published exchanges such as NASDAQ and NYSE. Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. Prices have not been adjusted to reflect after-hours market activity. The majority of investments in equity securities are valued using Level 1 measurements. When the price of an institutional commingled fund is unpublished, it is not categorized in the fair value hierarchy, even though the funds are readily available at the fair value.
Investments in corporate debt securities and U.S. government securities
Most debt investments are valued based on a calculation using interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. Most debt valuations are Level 2 measurements. If the market for a particular fixed-income security is relatively inactive or illiquid, the measurement is Level 3. U.S. Treasury debt is typically Level 2.
Investments in short-term investment funds
Investments in short-term investment funds are valued at the net asset value of units held at year end and are readily redeemable at the measurement date. Investments in short-term investment funds with published prices are valued as Level 1. Investments in short-term investment funds with unpublished prices are valued as Level 2.
Duke Energy Corporation Master Retirement Trust
The following tables provide the fair value measurement amounts for the Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets.
December 31, 2023
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,221 $1,995 $211 $— $15 
Corporate debt securities2,807 — 2,807 — — 
Short-term investment funds233 — 233 — — 
Partnership interests76 — — 76 — 
Hedge funds164 — — — 164 
U.S. government securities1,571 — 1,571 — — 
Governments bonds – foreign107 — 107 — — 
Cash7 7 — — — 
Government and commercial mortgage-backed securities
1 — 1 — — 
Net pending transactions and other investments54 40 14 — — 
Total assets(a)
$7,241 $2,042 $4,944 $76 $179 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2023. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
December 31, 2022
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,234 $2,014 $194 $— $26 
Corporate debt securities2,944 — 2,944 — — 
Short-term investment funds193 1 192 — — 
Partnership interests62 — — 62 — 
Hedge funds209 — — — 209 
U.S. government securities1,254 — 1,254 — — 
Governments bonds – foreign112 — 112 — — 
Cash45 45 — — — 
Government and commercial mortgage-backed securities
6 — 6 — — 
Net pending transactions and other investments14 5 9 — — 
Total assets(a)
$7,073 $2,065 $4,711 $62 $235 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2022. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
The following table provides a reconciliation of beginning and ending balances of Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3).
(in millions)20232022
Balance at January 1$62 $95 
Sales(8)(18)
Total gains and other, net22 (8)
Transfer of Level 3 assets from other classifications— (7)
Balance at December 31$76 $62 
Other post-retirement assets
The following tables provide the fair value measurement amounts for VEBA trust assets.
December 31, 2023
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$4 $4 
Real estate1 1 
Equity securities9 9 
Debt securities6 6 
Total assets$20 $20 
December 31, 2022
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$11 $11 
Real estate2 2 
Equity securities12 12 
Debt securities8 8 
Total assets$33 $33 
EMPLOYEE SAVINGS PLANS
Retirement Savings Plan
Duke Energy Corporation sponsors, and the Subsidiary Registrants participate in, employee savings plans that cover substantially all U.S. employees. Most employees participate in a matching contribution formula where Duke Energy provides a matching contribution generally equal to 100% of employee before-tax and Roth 401(k) contributions of up to 6% of eligible pay per pay period. Dividends on Duke Energy shares held by the savings plans are charged to retained earnings when declared and shares held in the plans are considered outstanding in the calculation of basic and diluted EPS. For new and rehired employees who are not eligible to participate in Duke Energy’s defined benefit plans, an additional employer contribution of 4% of eligible pay per pay period, which is subject to a three-year vesting schedule, is provided to the employee’s savings plan account.
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ended December 31,
2023$238 $75 $62 $40 $22 $6 $13 $13 
2022246 76 65 43 22 6 12 13 
2021229 70 60 39 21 5 12 11 
v3.24.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Inflation Reduction Act
On August 16, 2022, the IRA was signed into law. Among other provisions, the IRA implemented a new 15% corporate alternative minimum tax based on GAAP net income, with certain adjustments as defined by the IRA, and clean energy-related provisions. The IRA's clean energy provisions included, among other provisions, the extension and modification of existing investment and PTCs for projects placed in service through 2024 and introduced new technology-neutral clean energy related credits beginning in 2025. In addition, the IRA created a new, zero-emission nuclear power PTC and a clean hydrogen PTC.
There were no material impacts on the results of operations, financial position, or cash flows in the periods presented for the Duke Energy Registrants as a result of the IRA being signed into law. Based on the review of the IRA provisions, future annual cash flow impacts related to the energy credits could be material to the Duke Energy Registrants. However, the majority of Duke Energy's operations are regulated and the FERC and state utility commissions will determine the regulatory treatment. We anticipate the Subsidiary Registrants will defer and expect to pass along the net financial impact associated with the IRA to customers over time. See Note 4 for further details on the IRA as it relates to Duke Energy Florida. Duke Energy will continue to assess the IRA as new information and anticipated guidance from the U.S. Department of the Treasury becomes available.
North Carolina's 2021 Appropriations Act
On November 18, 2021, North Carolina Senate Bill 105 (SB 105) was signed into law. Starting with tax year 2025, SB 105 begins phasing out the North Carolina corporate income tax rate over five years, from a statutory rate of 2.5% to zero. Duke Energy recorded a net reduction of approximately $490 million to its North Carolina deferred tax liability in the fourth quarter of 2021. The majority of this deferred tax liability reduction was offset by recording a regulatory liability pending NCUC determination of the disposition of the amounts related to Duke Energy Carolinas, Duke Energy Progress and Piedmont. In addition, Duke Energy recorded a net reduction of North Carolina consolidating deferred tax assets of approximately $25 million to deferred state income tax expense in the fourth quarter of 2021. North Carolina SB 105 did not have a significant impact on the financial position, results of operation, or cash flows of Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress or Piedmont.
Income Tax Expense
Components of Income Tax Expense
Tax benefit from discontinued operations, in the following tables, includes income tax benefits related to the Commercial Renewables Disposal Groups. See Note 2 for further details.
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes
Federal(b)
$71 $173 $459 $198 $279 $(46)$10 $44 
State 1 22 38 4 71 (3)9 3 
Foreign 3 — — — — — — — 
Total current income taxes 75 195 497 202 350 (49)19 47 
Deferred income taxes       
Federal 319 (43)(154)(69)(89)111 77 25 
State 53 (7)38 19 — 1 14 12 
Total deferred income taxes(a)
372 (50)(116)(50)(89)112 91 37 
ITC amortization (9)(4)(4)(3)— — — — 
Income tax expense from continuing operations 438 141 377 149 261 63 110 84 
Tax benefit from discontinued operations (359)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations
$79 $141 $377 $149 $261 $63 $110 $84 
(a)     Total deferred income taxes includes the utilization of NOL carryforwards and tax credit carryforwards of $214 million at Duke Energy and $54 million at Duke Energy Indiana. In addition, total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $2 million at Duke Energy Carolinas, $116 million at Progress Energy, $59 million at Duke Energy Progress, $5 million at Duke Energy Florida, $22 million at Duke Energy Ohio, and $15 million at Piedmont.
(b)    Total current federal income tax at Duke Energy includes corporate alternative minimum tax, net of tax credit utilization, of $69 million. In addition, under the IRA transferability provision, Progress Energy elected to sell $28 million of PTCs generated by Duke Energy Florida. Cash received and paid related to the transfer of tax credits is included in Cash paid for (received from) income taxes on the Consolidated Statements of Cash Flows.
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $1 $(71)$(13)$37 $(37)$(2)$38 $32 
State (8)(13)(3)— (23)1 2 2 
Foreign 4 — — — — — — — 
Total current income taxes (3)(84)(16)37 (60)(1)40 34 
Deferred income taxes       
Federal 328 230 310 118 201 (22)(63)12 
State (14)(16)59 7 84 3 — (7)
Total deferred income taxes(a)
314 214 369 125 285 (19)(63)5 
ITC amortization (11)(4)(5)(4)— (1)(1)— 
Income tax expense from continuing operations 300 126 348 158 225 (21)(24)39 
Tax benefit from discontinued operations (503)— — — — — — — 
Total income tax (benefit) expense included in Consolidated Statements of Operations
$(203)$126 $348 $158 $225 $(21)$(24)$39 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $550 million at Duke Energy, $97 million at Duke Energy Carolinas, $128 million at Progress Energy, $9 million at Duke Energy Progress, $111 million at Duke Energy Florida, $7 million at Duke Energy Ohio, $13 million at Duke Energy Indiana, and $12 million at Piedmont.
 Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $(2)$241 $(15)$113 $(75)$(8)$65 $23 
State 1 23 (4)8 (17)(2)7 3 
Foreign 2 — — — — — — — 
Total current income taxes 1 264 (19)121 (92)(10)72 26 
Deferred income taxes        
Federal 275 (130)203 (16)202 35 19 17 
State — (79)47 (26)77 5 16 (13)
Total deferred income taxes(a)
275 (209)250 (42)279 40 35 4 
ITC amortization (8)(4)(4)(4)— — — — 
Income tax expense from continuing operations
268 51 227 75 187 30 107 30 
Tax benefit from discontinued operations (76)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations
$192 $51 $227 $75 $187 $30 $107 $30 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $32 million at Duke Energy Carolinas, $8 million at Duke Energy Indiana, and $3 million at Piedmont. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $250 million at Duke Energy, $95 million at Progress Energy, $14 million at Duke Energy Progress, $64 million at Duke Energy Florida and $2 million at Duke Energy Ohio.    
Duke Energy Income from Continuing Operations before Income Taxes
 Years Ended December 31,
(in millions)202320222021
Domestic$4,700 $3,991 $3,947 
Foreign67 87 44 
Income from continuing operations before income taxes$4,767 $4,078 $3,991 
Statutory Rate Reconciliation
The following tables present a reconciliation of income tax expense at the U.S. federal statutory tax rate to the actual tax expense from continuing operations.
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$1,001$338$490$241$268$83$128$97
State income tax, net of federal income tax effect4312 601856(2)1812
Amortization of EDIT
(388)(197)(114)(91)(23)(22)(33)(20)
AFUDC equity income(41)(19)(14)(11)(3)(2)(2)(4)
AFUDC equity depreciation3718136724—
Tax credits(b)
(63)(11)(46)(7)(39)(2)(2)(1)
Interest on company-owned life insurance(a)
(114)———————
Other items, net(37)—(12)(7)(5)6(3)—
Income tax expense from continuing operations$438 $141 $377 $149 $261 $63 $110 $84 
Effective tax rate9.2 %8.8 %16.2 %13.0 %20.4 %15.9 %18.1 %18.1 %
(a)     During 2023, the Company evaluated the deductibility of certain items spanning periods currently open under federal statute, including items related to interest on company-owned life insurance. As a result of this analysis, the Company recorded a favorable federal adjustment of approximately $114 million and a favorable state adjustment of approximately $6 million. The favorable state adjustment is included in State income tax, net of federal income tax effect, in the above table.
(b)    Tax credits at Progress Energy and Duke Energy Florida include $28 million of certain eligible PTCs, net of discount, that were elected to be sold in 2023 under the transferability provisions of the IRA. Cash received and paid related to the transfer of tax credits is included in Cash paid for (received from) income taxes on the Consolidated Statements of Cash Flows.
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$856 $362 $457 $245 $238 $59 $24 $76 
State income tax, net of federal income tax effect(17)(23)44 6 48 3 2 (4)
Amortization of EDIT
(481)(195)(133)(74)(59)(79)(48)(23)
AFUDC equity income(41)(20)(14)(11)(3)(1)(2)(2)
AFUDC equity depreciation36 18 12 6 6 1 4 — 
Other tax credits(43)(12)(16)(9)(7)(2)(3)(8)
Other items, net(10)(4)(2)(5)2 (2)(1)— 
Income tax expense (benefit) from continuing operations
$300 $126 $348 $158 $225 $(21)$(24)$39 
Effective tax rate7.4 %7.3 %16.0 %13.6 %19.8 %(7.5)%(21.2)%10.8 %
 Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$838 $291 $384 $224 $194 $49 $123 $71 
State income tax, net of federal income tax effect1 (44)34 (14)47 2 18 (8)
Amortization of EDIT
(438)(184)(174)(120)(54)(22)(34)(25)
AFUDC equity income(34)(14)(11)(7)(3)(2)(4)(4)
AFUDC equity depreciation35 18 10 5 5 2 5 — 
Other tax credits(30)(12)(11)(8)(3)(1)(2)(4)
Valuation allowance(a)
(85)— — — — — — — 
Other items, net(19)(4)(5)(5)1 2 1 — 
Income tax expense from continuing operations
$268 $51 $227 $75 $187 $30 $107 $30 
Effective tax rate6.7 %3.7 %12.4 %7.0 %20.2 %12.8 %18.2 %8.8 %
(a)    In 2021, the Company recognized a federal capital gain in the amount of $426 million. As a result, a valuation allowance of $85 million related to a federal capital loss carryforward was released. This valuation allowance was originally recorded as a result of the 2019 sale of minority interest of certain renewable assets within the Commercial Renewables Disposal Groups.
Valuation allowances have been established for certain state NOL carryforwards and state income tax credits that reduce deferred tax assets to an amount that will be realized on a more-likely-than-not basis. The net change in the total valuation allowance is included in state income tax, net of federal income tax effect, in the above tables.
DEFERRED TAXES
Net Deferred Income Tax Liability Components
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $327 $194 $77 $21 $56 $13 $18 $42 
Lease obligations 418 86 256 179 77 4 15 3 
Pension, post-retirement and other employee benefits 65 (41)(22)(1)(25)5 2 (5)
Progress Energy merger purchase accounting adjustments(a)
260 — — — — — — — 
Tax credits and NOL carryforwards 4,489 445 686 230 425 44 154 50 
Regulatory liabilities and deferred credits— — — — — — 47 — 
Investments and other assets— — — — — — 1 — 
Other 102 29 22 12 8 5 5 9 
Valuation allowance (544)— — — — — — — 
Total deferred income tax assets 5,117 713 1,019 441 541 71 242 99 
Investments and other assets (1,812)(1,213)(596)(520)(91)— — (37)
Accelerated depreciation rates (11,969)(3,411)(4,557)(1,823)(2,778)(1,314)(1,678)(944)
Regulatory assets and deferred debits, net (1,892)(468)(1,063)(658)(405)(29)— (51)
Total deferred income tax liabilities (15,673)(5,092)(6,216)(3,001)(3,274)(1,343)(1,678)(1,032)
Net deferred income tax liabilities$(10,556)$(4,379)$(5,197)$(2,560)$(2,733)$(1,272)$(1,436)$(933)
(a)    Primarily related to lease obligations and debt fair value adjustments.
The following table presents the expiration of tax credits and NOL carryforwards.
 December 31, 2023
(in millions)AmountExpiration Year
General Business Credits$2,388 2029—2043
Foreign Tax Credits(d)
1,155 2024—2028
State Carryforwards and Credits(b) (e)
390 2024—Indefinite
Corporate AMT Credits
278 Indefinite
Federal Capital Loss(f)
73 2027—2028
Federal NOL carryforwards(a) (e)
193 2024—Indefinite
Foreign NOL carryforwards(c)
12 2027—2038
Total tax credits and NOL carryforwards $4,489    
(a)    A valuation allowance of $4 million has been recorded on the Federal NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(b)    A valuation allowance of $110 million has been recorded on the state NOL and attribute carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(c)    A valuation allowance of $12 million has been recorded on the foreign NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(d)    A valuation allowance of $389 million has been recorded on the foreign tax credits, as presented in the Net Deferred Income Tax Liability Components table.
(e)    Indefinite carryforward for Federal NOLs, and NOLs for states that have adopted the Tax Act's NOL provisions, generated in tax years beginning after December 31, 2017.
(f)    A valuation allowance of $29 million has been recorded on the Federal Capital Loss, as presented in the Net Deferred Income Tax Liability Components table.
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $348 $170 $117 $33 $83 $12 $23 $24 
Lease obligations 405 89 263 197 65 4 15 3 
Pension, post-retirement and other employee benefits 192 (1)12 18 (10)9 10 (2)
Progress Energy merger purchase accounting adjustments(a)
301 — — — — — — — 
Tax credits and NOL carryforwards 4,426 444 618 167 412 20 208 37 
Regulatory liabilities and deferred credits— — — — — 3 61 — 
Investments and other assets— — — — — 3 — — 
Other 106 18 22 12 10 5 2 9 
Valuation allowance (519)— — — — — — — 
Total deferred income tax assets 5,259 720 1,032 427 560 56 319 71 
Investments and other assets (1,671)(983)(521)(432)(102)— (12)(28)
Accelerated depreciation rates (11,478)(3,410)(4,358)(1,844)(2,576)(1,192)(1,606)(892)
Regulatory assets and deferred debits, net (2,074)(480)(1,300)(628)(671)— — (21)
Total deferred income tax liabilities (15,223)(4,873)(6,179)(2,904)(3,349)(1,192)(1,618)(941)
Net deferred income tax liabilities $(9,964)$(4,153)$(5,147)$(2,477)$(2,789)$(1,136)$(1,299)$(870)
(a)    Primarily related to lease obligations and debt fair value adjustments.
UNRECOGNIZED TAX BENEFITS
The following tables present changes to unrecognized tax benefits.
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$65 $17 $19 $13 $5 $1 $2 $9 
Gross decreases – tax positions in prior periods(15)— — — — — — — 
Gross increases – current period tax positions12 4 5 5 1 1 1 2 
Total changes(3)4 5 5 1 1 1 2 
Unrecognized tax benefits – December 31$62 $21 $24 $18 $6 $2 $3 $11 
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$51 $13 $15 $10 $4 $1 $2 $4 
Gross increases – current period tax positions14 4 4 3 1 — — 5 
Total changes14 4 4 3 1 — — 5 
Unrecognized tax benefits – December 31$65 $17 $19 $13 $5 $1 $2 $9 
 Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$125 $10 $10 $6 $3 $1 $1 $1 
Gross decreases – tax positions in prior periods(a)
(86)— — — — — — — 
Gross increases – current period tax positions12 3 5 4 1 — 1 3 
Total changes(74)3 5 4 1 — 1 3 
Unrecognized tax benefits – December 31$51 $13 $15 $10 $4 $1 $2 $4 
(a)    In 2021, the Company recognized a federal capital gain in the amount of $426 million. As a result of the capital gain, a previously recorded unrecognized tax benefit related to the character of a taxable loss has been reversed. See note (a) under the Statutory Rate Reconciliation table for more details.
The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits at December 31, 2023. None of Duke Energy Registrants anticipates a material increase or decrease in unrecognized tax benefits within the next 12 months.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Amount that if recognized, would affect the
effective tax rate or regulatory liability(a)
$57 $20 $22 $16 $6 $2 $3 $10 
(a)    The Duke Energy Registrants are unable to estimate the specific amounts that would affect the ETR versus the regulatory liability.
Duke Energy and its subsidiaries are no longer subject to federal, state, local or non-U.S. income tax examinations by tax authorities for years before 2018, aside from certain tax attributes carried forward for utilization in future years.
v3.24.0.1
Other Income and Expenses, Net
 12 Months Ended
Dec. 31, 2023
Other Income and Expenses [Abstract]  
Other Income and Expenses, Net OTHER INCOME AND EXPENSES, NET
The components of Other income and expenses, net on the Consolidated Statements of Operations are as follows.
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income$29 $10 $14 $9 $7 $25 $25 $19 
AFUDC equity 198 91 67 52 15 9 10 21 
Post-in-service equity returns
39 19 19 19 — 1 — — 
Nonoperating income, other 332 118 101 44 56 6 41 17 
Other income and expense, net $598 $238 $201 $124 $78 $41 $76 $57 
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $27 $2 $24 $4 $20 $11 $15 $19 
AFUDC equity 197 98 68 52 16 7 13 11 
Post-in-service equity returns
34 14 18 18 — 1 1 — 
Nonoperating income, other134 107 71 40 38 — 7 16 
Other income and expense, net $392 $221 $181 $114 $74 $19 $36 $46 
 Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $13 $4 $8 $6 $2 $4 $6 $19 
AFUDC equity 171 65 51 34 16 7 27 20 
Post-in-service equity returns
39 21 16 16 — 1 1 — 
Nonoperating income, other413 180 140 87 53 6 8 16 
Other income and expense, net$636 $270 $215 $143 $71 $18 $42 $55 
v3.24.0.1
Subsequent Events
 12 Months Ended
Dec. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTS
For information on subsequent events related to regulatory matters, commitments and contingencies, debt and credit facilities, and asset retirement obligations, see Notes 4, 5, 7 and 10, respectively.
v3.24.0.1
Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited) QUARTERLY FINANCIAL DATA (UNAUDITED)
DUKE ENERGY
Quarterly EPS amounts may not sum to the full-year total due to changes in the weighted average number of common shares outstanding and rounding.
FirstSecondThirdFourth
(in millions, except per share data) QuarterQuarterQuarterQuarterTotal
2023     
Operating revenues $7,276 $6,578 $7,994 $7,212 $29,060 
Operating income 1,674 1,430 2,111 1,855 7,070 
Income from continuing operations 970 751 1,473 1,135 4,329 
Loss from discontinued operations, net of tax
(209)(955)(152)(139)(1,455)
Net income (loss)761 (204)1,321 996 2,874 
Net income (loss) available to Duke Energy Corporation common stockholders765 (234)1,213 991 2,735 
Earnings per share:      
Income from continuing operations available to Duke Energy Corporation common stockholders      
Basic and diluted$1.20 $0.91 $1.83 $1.41 $5.35 
Loss from discontinued operations attributable to Duke Energy Corporation common stockholders
 
Basic and diluted$(0.19)$(1.23)$(0.24)$(0.14)$(1.81)
Net income (loss) available to Duke Energy Corporation common stockholders  
Basic and diluted$1.01 $(0.32)$1.59 $1.27 $3.54 
2022     
Operating revenues $7,011 $6,564 $7,842 $7,351 $28,768 
Operating income 1,314 1,448 2,056 1,194 6,012 
Income from continuing operations 835 898 1,410 635 3,778 
(Loss) Income from discontinued operations, net of tax
(15)(18)3 (1,293)(1,323)
Net income (loss)
820 880 1,413 (658)2,455 
Net income (loss) available to Duke Energy Corporation common stockholders
818 893 1,383 (650)2,444 
Earnings per share:      
Income from continuing operations available to Duke Energy Corporation common stockholders      
Basic and diluted$1.06 $1.11 $1.78 $0.80 $4.74 
Income (Loss) from discontinued operations attributable to Duke Energy Corporation common stockholders
 
Basic and diluted$0.02 $0.03 $0.03 $(1.66)$(1.57)
Net income (loss) available to Duke Energy Corporation common stockholders
 

Basic and diluted$1.08 $1.14 $1.81 $(0.86)$3.17 
v3.24.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure      
Net Income (Loss) $ 2,841 $ 2,550 $ 3,908
v3.24.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2023
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
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Summary of Significant Accounting Policies (Policy)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Nature of Operations and Basis of Consolidation
Nature of Operations and Basis of Consolidation
Duke Energy is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies listed below. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Certain Duke Energy subsidiaries are also subsidiary registrants, including Duke Energy Carolinas; Progress Energy; Duke Energy Progress; Duke Energy Florida; Duke Energy Ohio; Duke Energy Indiana and Piedmont. When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its separate Subsidiary Registrants, which along with Duke Energy, are collectively referred to as the Duke Energy Registrants.
The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Consolidated Financial Statements. However, none of the Subsidiary Registrants make any representation as to information related solely to Duke Energy or the Subsidiary Registrants of Duke Energy other than itself.
These Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 18 for additional information on VIEs. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. See Note 9 for additional information on joint ownership. Substantially all of the Subsidiary Registrants' operations qualify for regulatory accounting.
Duke Energy Carolinas is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Carolinas is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC.
Progress Energy is a public utility holding company, which conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Progress Energy is subject to regulation by FERC and other regulatory agencies listed below.
Duke Energy Progress is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Progress is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC.
Duke Energy Florida is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. Duke Energy Florida is subject to the regulatory provisions of the FPSC, NRC and FERC.
Duke Energy Ohio is a regulated public utility primarily engaged in the transmission and distribution of electricity in portions of Ohio and Kentucky, the generation and sale of electricity in portions of Kentucky and the transportation and sale of natural gas in portions of Ohio and Kentucky. Duke Energy Ohio conducts competitive auctions for retail electricity supply in Ohio whereby the energy price is recovered from retail customers and recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Operations in Kentucky are conducted through its wholly owned subsidiary, Duke Energy Kentucky. References herein to Duke Energy Ohio collectively include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the PUCO, KPSC and FERC.
Duke Energy Indiana is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Indiana. Duke Energy Indiana is subject to the regulatory provisions of the IURC and FERC.
Piedmont is a regulated public utility primarily engaged in the distribution of natural gas in portions of North Carolina, South Carolina and Tennessee. Piedmont is subject to the regulatory provisions of the NCUC, PSCSC, TPUC and FERC.
Certain prior year amounts have been reclassified to conform to the current year presentation.
Discontinued Operations
Discontinued Operations
Duke Energy has elected to present cash flows of discontinued operations combined with cash flows of continuing operations. Unless otherwise noted, the notes to these consolidated financial statements exclude amounts related to discontinued operations for all periods presented. For the years ended December 31, 2023, 2022 and 2021, the Loss From Discontinued Operations, net of tax on Duke Energy's Consolidated Statements of Operations includes amounts related to noncontrolling interests. A portion of Noncontrolling interests on Duke Energy's Consolidated Balance Sheets relates to discontinued operations for the periods presented. See Note 2 for discussion of discontinued operations related to the Commercial Renewables Disposal Groups.
Noncontrolling Interest
Noncontrolling Interest
Duke Energy maintains a controlling financial interest in certain less than wholly owned subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Consolidated Balance Sheets. Operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares.
Use of Estimates
Use of Estimates
In preparing financial statements that conform to GAAP, the Duke Energy Registrants must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
Regulatory Accounting
Regulatory Accounting
The majority of the Duke Energy Registrants’ operations are subject to price regulation for the sale of electricity and natural gas by state utility commissions or FERC. When prices are set on the basis of specific costs of the regulated operations and an effective franchise is in place such that sufficient natural gas or electric services can be sold to recover those costs, the Duke Energy Registrants apply regulatory accounting. Regulatory accounting changes the timing of the recognition of costs or revenues relative to a company that does not apply regulatory accounting. As a result, regulatory assets and regulatory liabilities are recognized on the Consolidated Balance Sheets. Regulatory assets and liabilities are amortized consistent with the treatment of the related cost in the ratemaking process. Regulatory assets are reviewed for recoverability each reporting period. If a regulatory asset is no longer deemed probable of recovery, the deferred cost is charged to earnings. See Note 4 for further information.
Regulatory accounting rules also require recognition of a disallowance (also called "impairment") loss if it becomes probable that part of the cost of a plant under construction (or a recently completed plant or an abandoned plant) will be disallowed for ratemaking purposes and a reasonable estimate of the amount of the disallowance can be made. For example, if a cost cap is set for a plant still under construction, the amount of the disallowance is a result of a judgment as to the ultimate cost of the plant. These disallowances can require judgments on allowed future rate recovery.
When it becomes probable that regulated generation, transmission or distribution assets will be abandoned, the cost of the asset is removed from plant in service. The value that may be retained as a regulatory asset on the balance sheet for the abandoned property is dependent upon amounts that may be recovered through regulated rates, including any return. As such, an impairment charge could be partially or fully offset by the establishment of a regulatory asset if rate recovery is probable. The impairment charge for a disallowance of costs for regulated plants under construction, recently completed or abandoned is based on discounted cash flows.
Regulated Fuel Costs and Purchased Power The Duke Energy Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses or PGA clauses. These clauses allow for the recovery of fuel and fuel-related costs, portions of purchased power, natural gas costs and hedging costs through surcharges on customer rates. The difference between the costs incurred and the surcharge revenues is recorded either as an adjustment to Operating Revenues, Operating Expenses – Fuel used in electric generation or Operating Expenses – Cost of natural gas on the Consolidated Statements of Operations, with an off-setting impact on regulatory assets or liabilities
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash
All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. Duke Energy Carolinas and Duke Energy Progress have restricted cash balances related to VIEs from storm recovery bonds issued. See Note 18 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Consolidated Balance Sheets.
Inventory
Inventory
Inventory related to regulated operations is valued at historical cost. Inventory is charged to expense or capitalized to property, plant and equipment when issued, primarily using the average cost method. Excess or obsolete inventory is written down to the lower of cost or net realizable value. Once inventory has been written down, it creates a new cost basis for the inventory that is not subsequently written up. Provisions for inventory write-offs were not material at December 31, 2023, and 2022, respectively.
Investments in Debt and Equity Securities
Investments in Debt and Equity Securities
The Duke Energy Registrants classify investments in equity securities as FV-NI and investments in debt securities as AFS. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on securities classified as FV-NI are reported through net income. Unrealized gains and losses for debt securities classified as AFS are included in AOCI until realized, unless it is determined the carrying value of an investment has a credit loss. For certain investments of regulated operations, such as substantially all of the NDTF, realized and unrealized gains and losses (including any credit losses) on debt securities are recorded as a regulatory asset or liability. The credit loss portion of debt securities of nonregulated operations are included in earnings. Investments in debt and equity securities are classified as either current or noncurrent based on management’s intent and ability to sell these securities, taking into consideration current market liquidity.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.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.
Goodwill and Intangible Assets
Goodwill
Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be a business segment or one level below. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont update these tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. See Note 12 for further information.
Intangible Assets
Intangible assets are included in Other in Other Noncurrent Assets on the Consolidated Balance Sheets. Generally, intangible assets are amortized using an amortization method that reflects the pattern in which the economic benefits of the intangible asset are consumed or on a straight-line basis if that pattern is not readily determinable. Amortization of intangibles is reflected in Depreciation and amortization on the Consolidated Statements of Operations. Intangible assets are subject to impairment testing and if impaired, the carrying value is accordingly reduced.
RECs are used to measure compliance with renewable energy standards and are held primarily for consumption.
Long-Lived Asset Impairments
Long-Lived Asset Impairments
The Duke Energy Registrants evaluate long-lived assets that are held and used, excluding goodwill, for impairment when circumstances indicate the carrying value of those assets may not be recoverable. An impairment exists when a long-lived asset’s carrying value exceeds the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. If the carrying value of the long-lived asset is not recoverable based on these estimated future undiscounted cash flows, the carrying value of the asset is written down to its then current estimated fair value and an impairment charge is recognized.
The Duke Energy Registrants assess fair value of long-lived assets that are held and used using various methods, including recent comparable third-party sales, internally developed discounted cash flow analysis and analysis from outside advisors. Triggering events to reassess cash flows may include, but are not limited to, significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset.
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment are stated at the lower of depreciated historical cost net of any disallowances or fair value, if impaired. The Duke Energy Registrants capitalize all construction-related direct labor and material costs, as well as indirect construction costs such as general engineering, taxes and financing costs. See “Allowance for Funds Used During Construction and Interest Capitalized” section below for information on capitalized financing costs. Costs of renewals and betterments that extend the useful life of property, plant and equipment are also capitalized. The cost of repairs, replacements and major maintenance projects, which do not extend the useful life or increase the expected output of the asset, are expensed as incurred. Depreciation is generally computed over the estimated useful life of the asset using the composite straight-line method. Depreciation studies are conducted periodically to update composite rates and are approved by state utility commissions and/or the FERC when required. The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 Years Ended December 31,
 202320222021
Duke Energy 2.9 %3.0 %2.9 %
Duke Energy Carolinas 2.7 %2.7 %2.7 %
Progress Energy 3.3 %3.2 %3.1 %
Duke Energy Progress 3.1 %3.0 %3.0 %
Duke Energy Florida 3.5 %3.5 %3.3 %
Duke Energy Ohio 2.8 %2.9 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.6 %
Piedmont2.1 %2.1 %2.1 %
In general, when the Duke Energy Registrants retire regulated property, plant and equipment, the original cost plus the cost of retirement, less salvage value and any depreciation already recognized, is charged to accumulated depreciation. However, when it becomes probable the asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory assets on the Consolidated Balance Sheets if deemed recoverable (see discussion of long-lived asset impairments above). The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate.
When the Duke Energy Registrants sell entire regulated operating units, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets.
Leases
Leases
Duke Energy determines if an arrangement is a lease at contract inception based on whether the arrangement involves the use of a physically distinct identified asset and whether Duke Energy has the right to obtain substantially all of the economic benefits from the use of the asset throughout the period as well as the right to direct the use of the asset. As a policy election, Duke Energy does not evaluate arrangements with initial contract terms of less than one year as leases.
Operating leases are included in Operating lease ROU assets, net, Other current liabilities and Operating lease liabilities on the Consolidated Balance Sheets. Finance leases are included in Property, Plant and Equipment, Current maturities of long-term debt and Long-Term Debt on the Consolidated Balance Sheets.
For lessee and lessor arrangements, Duke Energy has elected a policy to not separate lease and non-lease components for all asset classes. For lessor arrangements, lease and non-lease components are only combined under one arrangement and accounted for under the lease accounting framework if the non-lease components are not the predominant component of the arrangement and the lease component would be classified as an operating lease.
Leases
Leases
Duke Energy determines if an arrangement is a lease at contract inception based on whether the arrangement involves the use of a physically distinct identified asset and whether Duke Energy has the right to obtain substantially all of the economic benefits from the use of the asset throughout the period as well as the right to direct the use of the asset. As a policy election, Duke Energy does not evaluate arrangements with initial contract terms of less than one year as leases.
Operating leases are included in Operating lease ROU assets, net, Other current liabilities and Operating lease liabilities on the Consolidated Balance Sheets. Finance leases are included in Property, Plant and Equipment, Current maturities of long-term debt and Long-Term Debt on the Consolidated Balance Sheets.
For lessee and lessor arrangements, Duke Energy has elected a policy to not separate lease and non-lease components for all asset classes. For lessor arrangements, lease and non-lease components are only combined under one arrangement and accounted for under the lease accounting framework if the non-lease components are not the predominant component of the arrangement and the lease component would be classified as an operating lease.
Nuclear Fuel
Nuclear Fuel
Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets.
Nuclear fuel in the front-end fuel processing phase is considered work in progress and not amortized until placed in service. Amortization of nuclear fuel is included within Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. Amortization is recorded using the units-of-production method.
Allowance for Funds Used During Construction and Interest Capitalized
Allowance for Funds Used During Construction and Interest Capitalized
For regulated operations, the debt and equity costs of financing the construction of property, plant and equipment are reflected as AFUDC and capitalized as a component of the cost of property, plant and equipment. AFUDC equity is reported on the Consolidated Statements of Operations as non-cash income in Other income and expenses, net. AFUDC debt is reported as a non-cash offset to Interest Expense. After construction is completed, the Duke Energy Registrants are permitted to recover these costs through their inclusion in rate base and the corresponding subsequent depreciation or amortization of those regulated assets.
Asset Retirement Obligations
Asset Retirement Obligations
AROs are recognized for legal obligations associated with the retirement of property, plant and equipment. When recording an ARO, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset unless determined not to be probable of recovery.
The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the ARO for regulated operations through a combination of regulated revenues and earnings on the NDTF. As a result, amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset are netted and deferred as a regulatory asset or liability.
Accounts Payable
Accounts Payable
Duke Energy has a voluntary supply chain finance program (the “program”) that allows Duke Energy suppliers, at their sole discretion, to sell their receivables from Duke Energy to a global financial institution at a rate that leverages Duke Energy’s credit rating and, which may result in favorable terms compared to the rate available to the supplier on their own credit rating. Suppliers participating in the program, determine at their sole discretion which invoices they will sell to the financial institution. Suppliers’ decisions on which invoices are sold do not impact Duke Energy’s payment terms, which are based on commercial terms negotiated between Duke Energy and the supplier regardless of program participation. The commercial terms negotiated between Duke Energy and its suppliers are consistent regardless of whether the supplier elects to participate in the program. Duke Energy does not issue any guarantees with respect to the program and does not participate in negotiations between suppliers and the financial institution. Duke Energy does not have an economic interest in the supplier’s decision to participate in the program and receives no interest, fees or other benefit from the financial institution based on supplier participation in the program.
Revenue Recognition
Revenue Recognition
Duke Energy recognizes revenue as customers obtain control of promised goods and services in an amount that reflects consideration expected in exchange for those goods or services. Generally, the delivery of electricity and natural gas results in the transfer of control to customers at the time the commodity is delivered and the amount of revenue recognized is equal to the amount billed to each customer, including estimated volumes delivered when billings have not yet occurred. See Note 19 for further information.
Alternative Revenue Programs
Duke Energy accounts for certain types of programs established by the regulators in the states in which it operates, including decoupling mechanisms, as alternative revenue programs. Alternative revenue programs are contracts between an entity and its regulator, not a contract between an entity and a customer. Revenue arising from alternative revenue programs is presented as Regulated electric revenues and Regulated natural gas revenues on the Consolidated Statements of Operations. Revenue from alternative revenue programs is recognized in the period they are earned (i.e. during the period of revenue shortfall or excess due to fluctuations in customer usage or when specific targets are met resulting in the achievement of performance incentives or penalties) and a regulatory asset or liability on the Consolidated Balance Sheets is established which is subsequently billed or refunded to customers. Duke Energy recognizes revenue as alternative revenue programs for programs that have been authorized for rate recovery, are objectively determinable and probable of recovery, and are expected to be collected within 24 months. See Note 19 for disaggregated revenue information including revenue from contracts with customers and revenues recognized as alternative revenue programs.
Duke Energy recognizes revenue consistent with amounts billed under tariff offerings or at contractually agreed upon rates based on actual physical delivery of electric or natural gas service, including estimated volumes delivered when billings have not yet occurred. As such, the majority of Duke Energy’s revenues have fixed pricing based on the contractual terms of the published tariffs. Absent decoupling mechanisms, the variability in expected cash flows of the majority of Duke Energy's revenue is attributable to the customer’s volumetric demand and ultimate quantities of energy or natural gas supplied and used during the billing period. The stand-alone selling price of related sales are designed to support recovery of prudently incurred costs and an appropriate return on invested assets and are primarily governed by published tariff rates or contractual agreements approved by relevant regulatory bodies. As described in Note 1, certain excise taxes and franchise fees levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis as part of revenues. Duke Energy elects to account for all other taxes net of revenues.
Performance obligations are satisfied over time as energy or natural gas is delivered and consumed with billings generally occurring monthly and related payments due within 30 days, depending on regulatory requirements. In no event does the timing between payment and delivery of the goods and services exceed one year. Using this output method for revenue recognition provides a faithful depiction of the transfer of electric and natural gas service as customers obtain control of the commodity and benefit from its use at delivery. Additionally, Duke Energy has an enforceable right to consideration for energy or natural gas delivered at any discrete point in time and will recognize revenue at an amount that reflects the consideration to which Duke Energy is entitled for the energy or natural gas delivered.
As described above, the majority of Duke Energy’s tariff revenues are at will and, as such, related contracts with customers have an expected duration of one year or less and will not have future performance obligations for disclosure. Additionally, other long-term revenue streams, including wholesale contracts, generally provide services that are part of a single performance obligation, the delivery of electricity or natural gas. As such, other than material fixed consideration under long-term contracts, related disclosures for future performance obligations are also not applicable.
Derivatives and Hedging
Derivatives and Hedging
Derivative and non-derivative instruments may be used in connection with commodity price and interest rate activities, including swaps, futures, forwards and options. All derivative instruments, except those that qualify for the NPNS exception, are recorded on the Consolidated Balance Sheets at fair value. Qualifying derivative instruments may be designated as either cash flow hedges or fair value hedges. Other derivative instruments (undesignated contracts) either have not been designated or do not qualify as hedges. The effective portion of the change in the fair value of cash flow hedges is recorded in AOCI. The effective portion of the change in the fair value of a fair value hedge is offset in net income by changes in the hedged item. For activity subject to regulatory accounting, gains and losses on derivative contracts are reflected as regulatory assets or liabilities and not as other comprehensive income or current period income. As a result, changes in fair value of these derivatives have no immediate earnings impact.
Formal documentation, including transaction type and risk management strategy, is maintained for all contracts accounted for as a hedge. At inception and at least every three months thereafter, the hedge contract is assessed to see if it is highly effective in offsetting changes in cash flows or fair values of hedged items.
Captive Insurance Reserves
Captive Insurance Reserves
Duke Energy has captive insurance subsidiaries that provide coverage, on an indemnity basis, to the Subsidiary Registrants as well as certain third parties, on a limited basis, for financial losses, primarily related to property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not reported (IBNR), as well as estimated provisions for known claims. IBNR reserve estimates are primarily based upon historical loss experience, industry data and other actuarial assumptions. Reserve estimates are adjusted in future periods as actual losses differ from experience.
Duke Energy, through its captive insurance entities, also has reinsurance coverage with third parties for certain losses above a per occurrence and/or aggregate retention. Receivables for reinsurance coverage are recognized when realization is deemed probable.
Preferred Stock
Preferred Stock
Preferred stock is reviewed to determine the appropriate balance sheet classification and embedded features, such as call options, are evaluated to determine if they should be bifurcated and accounted for separately. Costs directly related to the issuance of preferred stock are recorded as a reduction of the proceeds received. The liability for the dividend is recognized when declared.
Loss Contingencies and Environmental Liabilities
Loss Contingencies and Environmental Liabilities
Contingent losses are recorded when it is probable a loss has occurred and the loss can be reasonably estimated. When a range of the probable loss exists and no amount within the range is a better estimate than any other amount, the minimum amount in the range is recorded. Unless otherwise required by GAAP, legal fees are expensed as incurred.
Environmental liabilities are recorded on an undiscounted basis when environmental remediation or other liabilities become probable and can be reasonably estimated. Environmental expenditures related to past operations that do not generate current or future revenues are expensed. Environmental expenditures related to operations that generate current or future revenues are expensed or capitalized, as appropriate. Certain environmental expenditures receive regulatory accounting treatment and are recorded as regulatory assets.
Severance and Special Termination Benefits
Severance and Special Termination Benefits
Duke Energy maintains severance plans for the general employee population under which, in general, the longer a terminated employee worked prior to termination the greater the amount of severance benefits provided. A liability for involuntary severance is recorded once an involuntary severance plan is committed to by management if involuntary severances are probable and can be reasonably estimated. For involuntary severance benefits incremental to its ongoing severance plan benefits, the fair value of the obligation is expensed at the communication date if there are no future service requirements or over the required future service period. Duke Energy also offers special termination benefits under voluntary severance programs. Special termination benefits are recorded immediately upon employee acceptance absent a significant retention period. Otherwise, the cost is recorded over the remaining service period. Employee acceptance of voluntary severance benefits is determined by management based on the facts and circumstances of the benefits being offered.
Guarantees
Guarantees
If necessary, liabilities are recognized at the time of issuance or material modification of a guarantee for the estimated fair value of the obligation it assumes. Fair value is estimated using a probability weighted approach. The obligation is reduced over the term of the guarantee or related contract in a systematic and rational method as risk is reduced. Duke Energy recognizes a liability for the best estimate of its loss due to the nonperformance of the guaranteed party. This liability is recognized at the inception of a guarantee and is updated periodically.
Income Taxes
Income Taxes
Duke Energy and its subsidiaries file a consolidated federal income tax return and other state and foreign jurisdictional returns. The Subsidiary Registrants are parties to a tax-sharing agreement with Duke Energy. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. Deferred income taxes have been provided for temporary differences between GAAP and tax bases of assets and liabilities because the differences create taxable or tax-deductible amounts for future periods. ITCs associated with regulated operations are deferred and amortized as a reduction of income tax expense over the estimated useful lives of the related properties.
Accumulated deferred income taxes are valued using the enacted tax rate expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be settled or realized. In the event of a change in tax rates, deferred tax assets and liabilities are remeasured as of the enactment date of the new rate. To the extent that the change in the value of the deferred tax represents an obligation to customers, the impact of the remeasurement is deferred to a regulatory liability. Remaining impacts are recorded in income from continuing operations. Duke Energy's results of operations could be impacted if the estimate of the tax effect of reversing temporary differences is not reflective of actual outcomes, is modified to reflect new developments or interpretations of the tax law, revised to incorporate new accounting principles, or changes in the expected timing or manner of a reversal.
Tax-related interest and penalties are recorded in Interest Expense and Other income and expenses, net in the Consolidated Statements of Operations.
Excise Taxes
Excise Taxes
Certain excise taxes levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis. Taxes for which Duke Energy operates merely as a collection agent for the state and local government are accounted for on a net basis.
Dividend Restrictions and Unappropriated Retained Earnings
Dividend Restrictions and Unappropriated Retained Earnings
Duke Energy does not have any current legal, regulatory or other restrictions on paying common stock dividends to shareholders. However, if Duke Energy were to defer dividend payments on the preferred stock, the declaration of common stock dividends would be prohibited. See Note 20 for more information. Additionally, as further described in Note 4, Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio, Duke Energy Indiana and Piedmont have restrictions on paying dividends or otherwise advancing funds to Duke Energy due to conditions established by regulators in conjunction with merger transaction approvals.
New Accounting Standard
New Accounting Standards
The following accounting standard was adopted by the Duke Energy Registrants in 2021.
Leases with Variable Lease Payments. In July 2021, the Financial Accounting Standards Board issued new accounting guidance requiring lessors to classify a lease with variable lease payments that do not depend on a reference index or rate as an operating lease if both of the following are met: (1) the lease would have to be classified as a sales-type or direct financing lease under prior guidance, and (2) the lessor would have recognized a day-one loss. Duke Energy elected to adopt the guidance immediately upon issuance of the new standard and will be applying the new standard prospectively to new lease arrangements meeting the criteria. Duke Energy did not have any lease arrangements that this new accounting guidance materially impacted.
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 equity forward sale agreements or convertible debt, were exercised or settled. Duke Energy applies the if-converted method for calculating any potential dilutive effect of the conversion of the outstanding convertible notes on diluted EPS, if applicable.
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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of Current and Noncurrent Assets and Liabilities
The following table provides a description of amounts included in Other within Current Assets or Current Liabilities that exceed 5% of total Current Assets or Current Liabilities on the Duke Energy Registrants' Consolidated Balance Sheets at either December 31, 2023, or 2022.
December 31,
(in millions)Location20232022
Duke Energy Carolinas
Accrued compensation Current Liabilities$224 $247 
Duke Energy Florida  
Customer deposits/Collateral liabilities
Current Liabilities$168 $200 
Duke Energy Ohio  
Gas StorageCurrent Assets$23 $57 
Tax receivables
Current Assets
95 4 
Duke Energy Indiana    
Mark-to-market transactionsCurrent Assets$18 $110 
Customer advances
Current Liabilities
$87 $51 
Schedule of Cash and Cash Equivalents The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
December 31, 2023
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$253 $9 $59 $18 $24 
Other76 9 67 31 36 
Other Noncurrent Assets
Other16 1 9 2 7 
Total cash, cash equivalents and restricted cash$345 $19 $135 $51 $67 
December 31, 2022
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$409 $44 $108 $49 $45 
Other82 8 74 28 41 
Other Noncurrent Assets
Other11 1 2 2 — 
Total cash, cash equivalents and restricted cash$502 $53 $184 $79 $86 
Restrictions on Cash and Cash Equivalents The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
December 31, 2023
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$253 $9 $59 $18 $24 
Other76 9 67 31 36 
Other Noncurrent Assets
Other16 1 9 2 7 
Total cash, cash equivalents and restricted cash$345 $19 $135 $51 $67 
December 31, 2022
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$409 $44 $108 $49 $45 
Other82 8 74 28 41 
Other Noncurrent Assets
Other11 1 2 2 — 
Total cash, cash equivalents and restricted cash$502 $53 $184 $79 $86 
Components of Inventory The components of inventory are presented in the tables below.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $3,086 $1,075 $1,465 $963 $502 $139 $361 $12 
Coal 842 364 231 154 77 28 219 — 
Natural gas, oil and other 364 45 205 110 95 12 2 100 
Total inventory $4,292 $1,484 $1,901 $1,227 $674 $179 $582 $112 
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,604 $876 $1,232 $819 $413 $105 $342 $12 
Coal620 253 190 99 91 34 144 — 
Natural gas, oil and other360 35 157 88 69 5 3 160 
Total inventory $3,584 $1,164 $1,579 $1,006 $573 $144 $489 $172 
Schedule of Property, Plant and Equipment The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 Years Ended December 31,
 202320222021
Duke Energy 2.9 %3.0 %2.9 %
Duke Energy Carolinas 2.7 %2.7 %2.7 %
Progress Energy 3.3 %3.2 %3.1 %
Duke Energy Progress 3.1 %3.0 %3.0 %
Duke Energy Florida 3.5 %3.5 %3.3 %
Duke Energy Ohio 2.8 %2.9 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.6 %
Piedmont2.1 %2.1 %2.1 %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
December 31, 2023
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,345 $581 $1,012 $502 $510 $242 $133 $352 
Plant – Regulated
Electric generation, distribution and transmission 40129,985 48,107 57,436 33,171 24,265 7,243 17,199 — 
Natural gas transmission and distribution 5714,130 — — — — 3,993 — 10,137 
Other buildings and improvements 422,887 1,213 677 377 300 421 355 221 
Nuclear fuel 3,303 1,866 1,437 1,437 — — — — 
Equipment 143,409 870 1,104 654 450 474 442 143 
Construction in process 8,372 2,578 3,941 1,661 2,280 427 427 690 
Other126,920 1,455 2,037 1,481 548 410 344 363 
Total property, plant and equipment(a)
171,351 56,670 67,644 39,283 28,353 13,210 18,900 11,906 
Total accumulated depreciation – regulated(b)(c)
(54,323)(19,896)(22,300)(15,227)(7,067)(3,451)(6,501)(2,259)
Total accumulated depreciation – other(d)
(1,715)— — — — — — — 
Facilities to be retired, net2 — — — — — — 2 
Total net property, plant and equipment $115,315 $36,774 $45,344 $24,056 $21,286 $9,759 $12,399 $9,649 
(a)    Includes finance leases of $697 million, $335 million, $615 million, $552 million, $63 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $292 million, $119 million and $173 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,793 million, $991 million, $802 million and $802 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $3 million, $67 million and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $7 million at Duke Energy.
December 31, 2022
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,232 $565 $993 $496 $497 $230 $124 $295 
Plant – Regulated
Electric generation, distribution and transmission 39126,016 46,640 55,872 33,336 22,536 6,900 16,604 — 
Natural gas transmission and distribution 5613,174 — — — — 3,773 — 9,401 
Other buildings and improvements 402,537 973 647 341 306 398 336 183 
Nuclear fuel 3,081 1,723 1,358 1,358 — — — — 
Equipment 132,959 710 936 567 369 441 356 125 
Construction in process 7,381 2,671 3,073 1,317 1,756 375 381 478 
Other136,459 1,368 1,943 1,460 476 380 320 387 
Total property, plant and equipment(a)
163,839 54,650 64,822 38,875 25,940 12,497 18,121 10,869 
Total accumulated depreciation – regulated(b)(c)
(50,544)(18,669)(20,584)(14,201)(6,377)(3,250)(6,021)(2,081)
Total accumulated depreciation – other(d)
(1,556)— — — — — — — 
Facilities to be retired, net9 — — — — — — 9 
Total net property, plant and equipment $111,748 $35,981 $44,238 $24,674 $19,563 $9,247 $12,100 $8,797 
(a)    Includes finance leases of $816 million, $335 million, $674 million, $590 million, $84 million, and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $233 million, $81 million and $152 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,683 million, $934 million, $749 million and $749 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $7 million, $51 million, and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of ($1 million) at Duke Energy.
Duke Energy has continued to execute on its business transformation strategy, including the evaluation of in-office work policies considering the experience with the COVID-19 pandemic and also workforce realignment of roles and responsibilities. In May 2021, Duke Energy management approved the sale of certain properties and entered into an agreement to exit certain leased space on December 31, 2021. The sale of the properties was subject to abandonment accounting and resulted in an impairment charge. Additionally, the exit of the leased space resulted in the impairment of related furniture, fixtures and equipment. During the year ended December 31, 2021, Duke Energy recorded a pretax charge to earnings of $192 million on the Consolidated Statements of Operations, which includes $133 million within Impairment of assets and other charges, $42 million within Operations, maintenance and other and $17 million within Depreciation and amortization.
Schedule of Accounts Payable and Supplier Invoices Sold
The following table presents the outstanding accounts payable balance sold to the financial institution by our suppliers and the supplier invoices sold to the financial institution under the program included within Net cash provided by operating activities on the Consolidated Statements of Cash Flows as of December 31, 2023, and December 31, 2022.
 
For the Years Ended December 31, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Confirmed obligations outstanding at December 31, 2021
$19 $— $9 $— $9 $6 $— $4 
Invoices confirmed during the period
283 29 76 26 50 32 2 145 
Confirmed invoices paid during the period
(215)(23)(66)(18)(48)(33)(2)(92)
Confirmed obligations outstanding at December 31, 2022
$87 $6 $19 $8 $11 $5 $— $57 
Invoices confirmed during the period
228 24 58 22 36 7 — 139 
Confirmed invoices paid during the period
(265)(30)(74)(30)(44)(12)— (149)
Confirmed obligations outstanding at December 31, 2023
$50 $— $3 $— $3 $— $— $47 
Schedule of Excise Taxes Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows.
Years Ended December 31,
(in millions) 202320222021
Duke Energy $458 $449 $420 
Duke Energy Carolinas 27 47 44 
Progress Energy 322 290 250 
Duke Energy Progress 5 25 22 
Duke Energy Florida 317 265 228 
Duke Energy Ohio 106 104 102 
Duke Energy Indiana 1 7 23 
Piedmont2 1 1 
v3.24.0.1
Dispositions (Tables)
 12 Months Ended
Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The following table summarizes the Loss from Discontinued Operations, net of tax recorded on Duke Energy's Consolidated Statements of Operations:
Years Ended December 31,
(in millions)202320222021
Commercial Renewables Disposal Groups$(1,457)$(1,349)$(151)
Other(a)
2 26 7 
Loss from Discontinued Operations, net of tax$(1,455)$(1,323)$(144)
(a)     Amounts primarily represent income tax adjustments for previously sold businesses not related to the Commercial Renewables Disposal Groups.
The following table presents the carrying values of the major classes of Assets held for sale and Liabilities associated with assets held for sale included in Duke Energy's Consolidated Balance Sheets.
December 31,
(in millions)20232022
Current Assets Held for Sale
Cash and cash equivalents$— $10 
Receivables, net— 107 
Inventory— 88 
Other14 151 
Total current assets held for sale14 356 
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost247 6,444 
Accumulated depreciation and amortization(57)(1,651)
Net property, plant and equipment190 4,793 
Operating lease right-of-use assets, net4 140 
Investments in equity method unconsolidated affiliates— 522 
Other3 179 
Total other noncurrent assets held for sale7 841 
Total Assets Held for Sale$211 $5,990 
Current Liabilities Associated with Assets Held for Sale
Accounts payable$9 $122 
Taxes accrued3 17 
Current maturities of long-term debt
5 276 
Unrealized losses on commodity hedges
68 37 
Other37 83 
Total current liabilities associated with assets held for sale122 535 
Noncurrent Liabilities Associated with Assets Held for Sale
Long-Term debt39 1,188 
Operating lease liabilities5 150 
Asset retirement obligations8 190 
Unrealized losses on commodity hedges
94 187 
Other11 212 
Total other noncurrent liabilities associated with assets held for sale157 1,927 
Total Liabilities Associated with Assets Held for Sale$279 $2,462 
As of December 31, 2023, and 2022, the noncontrolling interest balance is $66.3 million and $1.6 billion, respectively.
The following table presents the results of the Commercial Renewables Disposal Groups, which are included in Loss from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations.
Years Ended December 31,
(in millions)202320222021
Operating revenues$330 $465 $476 
Operation, maintenance and other302337343
Depreciation and amortization(a)
— 201227
Property and other taxes453634
Other income and expenses, net(8)2 (27)
Interest expense651072
Loss on disposal1,725 1,748 — 
Loss before income taxes(1,815)(1,865)(227)
Income tax benefit(358)(516)(76)
Loss from discontinued operations $(1,457)$(1,349)$(151)
Add: Net loss attributable to noncontrolling interest included in discontinued operations64 108 344 
Net (loss) income from discontinued operations attributable to Duke Energy Corporation
$(1,393)$(1,241)$193 
(a)    Upon meeting the criteria for assets held for sale, beginning in November 2022 depreciation and amortization expense were ceased.
The Commercial Renewables Disposal Groups' assets held for sale amounts presented above reflect pretax impairments recorded against property, plant and equipment of approximately $278 million and $1.7 billion as of December 31, 2023, and 2022, respectively. In connection with the sales of the utility-scale solar and wind group and the distributed generation group, impairments were recorded based upon the purchase and sale agreements and the net assets were derecognized following the closing of the sales. For the remainder of the assets, impairments were recorded based upon fair value determined from a discounted cash flow analysis. The impairments were included in Loss from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations and Comprehensive Income for the periods presented. The discounted cash flow model utilized Level 2 and Level 3 inputs. The fair value hierarchy levels are further discussed in Note 17. The impairments for the utility-scale and distributed generation assets were updated based on customary adjustments at closing, and will be updated, if necessary, for any post-closing adjustments. The carrying amounts for the remaining assets will be updated, if necessary, based on final disposition amounts.
Duke Energy has elected not to separately disclose discontinued operations on Duke Energy's Consolidated Statements of Cash Flows. The following table summarizes Duke Energy's cash flows from discontinued operations related to the Commercial Renewables Disposal Groups.
Years Ended December 31,
(in millions)202320222021
Cash flows provided by (used in):
Operating activities$607 $213 $62 
Investing activities122 (802)(542)
v3.24.0.1
Business Segments (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting Information [Line Items]  
Business Segment Data
Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.
Year Ended December 31, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated Revenues$26,846 $2,177 $29,023 $37 $— $29,060 
Intersegment Revenues75 89 164 97 (261)— 
Total Revenues$26,921 $2,266 $29,187 $134 $(261)$29,060 
Interest Expense$1,850 $217 $2,067 $1,097 $(150)$3,014 
Depreciation and amortization4,684 349 5,033 248 (28)5,253 
Equity in earnings of unconsolidated affiliates7 40 47 66 — 113 
Income tax expense (benefit)742 116 858 (420)— 438 
Segment income (loss)(a)(b)
4,223 519 4,742 (616)— 4,126 
Less noncontrolling interest(33)
Add back preferred stock dividend106 
Discontinued operations(1,391)
Net income$2,874 
Capital investments expenditures and acquisitions(c)
$10,135 $1,492 $11,627 $995 $— $12,622 
Segment assets(d)
155,449 17,349 172,798 4,095 — 176,893 
(a)    EU&I includes $35 million recorded with Impairment of assets and other charges and $8 million within Operations, maintenance and other primarily related to the North Carolina rate case order on Duke Energy Carolinas' Consolidated Statements of Operations; it also includes $33 million within Impairment of assets and other charges and $8 million within Operations, maintenance and other primarily related to the North Carolina rate case order on Duke Energy Progress' Consolidated Statements of Operations. See Note 4 for additional information.
(b)    Other includes $110 million recorded within Operations, maintenance and other and $14 million within Impairments of assets and other charges primarily related to strategic repositioning as the Company transitions to a fully regulated utility on the Consolidated Statements of Operations. See Note 21 for additional information.
(c)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(d)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.
Year Ended December 31, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated Revenues$25,990 $2,748 $28,738 $30 $— $28,768 
Intersegment Revenues34 92 126 92 (218)— 
Total Revenues$26,024 $2,840 $28,864 $122 $(218)$28,768 
Interest Expense$1,565 $182 $1,747 $778 $(86)$2,439 
Depreciation and amortization4,550 327 4,877 236 (27)5,086 
Equity in earnings of unconsolidated affiliates7 20 27 86 — 113 
Income tax expense (benefit)536 8 544 (244)— 300 
Segment income (loss)(a)(b)
3,929 468 4,397 (737)(1)3,659 
Less noncontrolling interest95 
Add back preferred stock dividend106 
Discontinued operations(1,215)
Net income$2,455 
Capital investments expenditures and acquisitions(c)
$8,985 $1,295 $10,280 $1,139 $— $11,419 
Segment assets(d)
152,104 16,411 168,515 9,571 — 178,086 
(a)    EU&I includes $386 million recorded within Impairment of assets and other charges, $46 million within Regulated electric revenues and $34 million within Noncontrolling Interests related to the Duke Energy Indiana court rulings on coal ash on the Consolidated Statements of Operations. See Note 4 for additional information.
(b)    Other includes $72 million recorded within Impairment of assets and other charges, $71 million within Operations, maintenance and other and a $7 million gain within Gains on sales of other assets related to costs attributable to business transformation, including long-term real estate strategy changes and workforce realignment on the Consolidated Statements of Operations; it also includes $25 million recorded within Operations, maintenance and other related to litigation on the Consolidated Statements of Operations.
(c)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(d)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.
Year Ended December 31, 2021
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated Revenues$22,570 $2,022 $24,592 $29 $— $24,621 
Intersegment Revenues33 90 123 84 (207)— 
Total Revenues$22,603 $2,112 $24,715 $113 $(207)$24,621 
Interest Expense$1,432 $142 $1,574 $643 $(10)$2,207 
Depreciation and amortization4,251 303 4,554 236 (28)4,762 
Equity in earnings of unconsolidated affiliates
7 8 15 47 — 62 
Income tax expense (benefit)494 55 549 (281)— 268 
Segment income (loss)(a)(b)(c)
3,850 396 4,246 (641)(3)3,602 
Less noncontrolling interest329 
Add back preferred stock dividend106 
Discontinued operations200 
Net income$3,579 
Capital investments expenditures and acquisitions(d)
$7,653 $1,271 $8,924 $828 $— $9,752 
Segment assets(e)
143,841 15,179 159,020 10,567 — 169,587 
(a)    EU&I includes $160 million of expense recorded within Impairment of assets and other charges, $77 million of income within Other Income and expenses, $5 million of expense within Operations, maintenance and other, $13 million of income within regulated operating revenues, $3 million of expense within interest expense and $6 million of expense within Depreciation and amortization on the Duke Energy Carolinas' Consolidated Statement of Operations related to the South Carolina Supreme Court decision on coal ash and insurance proceeds; it also includes $42 million of expense recorded within Impairment of assets and other charges, $34 million of income within Other Income and expenses, $7 million of expense within Operations, maintenance, and other, $15 million of income within Regulated electric operating revenues, $5 million of expense within interest expense and $1 million of expense within Depreciation and amortization on the Duke Energy Progress' Consolidated Statement of Operations.
(b)    GU&I includes $20 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Consolidated Statements of Operations, related to natural gas pipeline investments.
(c)    Other includes $133 million recorded within Impairment of assets and other charges, $42 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Consolidated Statements of Operations, related to the workplace and workforce realignment. See Note 11 for additional information.
(d)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(e)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.
Schedule of Revenue, By Products and Services
Products and Services
The following table summarizes revenues of the reportable segments by type.
RetailWholesaleRetailTotal
(in millions)ElectricElectricNatural GasOther Revenues
2023
Electric Utilities and Infrastructure$23,484 $2,193 $— $1,244 $26,921 
Gas Utilities and Infrastructure— — 2,199 67 2,266 
Total Reportable Segments$23,484 $2,193 $2,199 $1,311 $29,187 
2022
Electric Utilities and Infrastructure$22,036 $2,882 $— $1,106 $26,024 
Gas Utilities and Infrastructure— — 2,535 305 2,840 
Total Reportable Segments$22,036 $2,882 $2,535 $1,411 $28,864 
2021
Electric Utilities and Infrastructure$19,410 $2,216 $— $977 $22,603 
Gas Utilities and Infrastructure— — 2,025 87 2,112 
Total Reportable Segments$19,410 $2,216 $2,025 $1,064 $24,715 
Duke Energy Ohio  
Segment Reporting Information [Line Items]  
Business Segment Data
Year Ended December 31, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,868 $639 $2,507 $— $— $2,507 
Interest expense$116 $53 $169 $— $— $169 
Depreciation and amortization257 110 367 — — 367 
Income tax expense (benefit)42 23 65 (2)— 63 
Segment income (loss)/Net income227 116 343 (9)— 334 
Capital expenditures$520 $419 $939 $— $— $939 
Segment assets7,978 4,346 12,324 13 (121)12,216 
Year Ended December 31, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,798 $716 $2,514 $— $— $2,514 
Interest expense$86 $43 $129 $— $— $129 
Depreciation and amortization221 103 324 — — 324 
Income tax expense (benefit)24 (43)(19)(2)— (21)
Segment income (loss)/Net Income189 121 310 (8)— 302 
Capital expenditures$488 $362 $850 $— $— $850 
Segment assets7,504 4,164 11,668 14 (176)11,506 
Year Ended December 31, 2021
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,493 $544 $2,037 $— $— $2,037 
Interest expense$87 $24 $111 $— $— $111 
Depreciation and amortization217 90 307 — — 307 
Income tax expense (benefit)15 19 34 (4)— 30 
Segment income (loss)/Net Income
141 78 219 (15)— 204 
Capital expenditures$486 $362 $848 $— $— $848 
Segment assets6,882 3,892 10,774 29 (29)10,774 
v3.24.0.1
Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2023
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.
Duke EnergyProgress Energy
December 31,December 31,
(in millions)2023202220232022
Regulatory Assets
AROs – coal ash$3,214 $3,205 $1,230 $1,429 
AROs – nuclear and other1,179 945 1,127 884 
Deferred fuel and purchased power2,486 3,866 1,173 2,060 
Accrued pension and OPEB2,389 2,336 757 759 
Storm cost securitized balance, net890 940 682 720 
Nuclear asset securitized balance, net830 881 830 881 
Debt fair value adjustment774 829 — — 
Hedge costs deferrals749 378 323 128 
Storm cost deferrals407 687 298 559 
COR regulatory asset371 221 337 221 
Post-in-service carrying costs (PISCC) and deferred operating expenses357 359 42 42 
Retired generation facilities275 316 220 243 
Deferred asset – Lee and Harris COLA252 288 15 21 
Customer connect project251 271 125 136 
Advanced metering infrastructure (AMI)243 283 92 111 
Incremental COVID-19 expenses237 210 80 78 
Vacation accrual228 222 43 43 
Grid Deferral210 136 51 40 
Demand side management (DSM)/Energy efficiency (EE)201 189 191 188 
CEP deferral193 190 — — 
NCEMPA deferrals172 157 172 157 
Derivatives – natural gas supply contracts147 168 — — 
Deferred pipeline integrity costs133 121 — — 
Nuclear deferral131 154 42 64 
COR settlement115 120 30 32 
Decoupling115 42 15 — 
Deferred coal ash handling system costs86 92 21 25 
Qualifying facility contract buyouts68 81 68 81 
Network Integration Transmission Services deferral31 23 — — 
Transmission expansion obligation30 31 — — 
East Bend deferrals28 33 — — 
Propane caverns26 26 — — 
Tennessee ARM Deferral20 3 — — 
Other428 327 127 77 
Total regulatory assets17,266 18,130 8,091 8,979 
Less: Current portion
3,648 3,485 1,661 1,833 
Total noncurrent regulatory assets$13,618 $14,645 $6,430 $7,146 
Regulatory Liabilities
Net regulatory liability related to income taxes$5,901 $6,462 $2,008 $2,192 
COR regulatory liability5,497 5,151 2,805 2,269 
AROs – nuclear and other1,673 1,038 — — 
Hedge cost deferrals443 683 208 252 
Accrued pension and OPEB266 211 — — 
Deferred fuel and purchased power137 35 14 — 
DSM/EE89 88 — — 
DOE Settlement32 154 32 154 
Provision for rate refunds15 78 4 28 
Other1,355 1,148 430 434 
Total regulatory liabilities 15,408 15,048 5,501 5,329 
Less: Current portion
1,369 1,466 418 576 
Total noncurrent regulatory liabilities $14,039 $13,582 $5,083 $4,753 
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.
Duke EnergyProgress Energy
December 31,December 31,
(in millions)2023202220232022
Regulatory Assets
AROs – coal ash$3,214 $3,205 $1,230 $1,429 
AROs – nuclear and other1,179 945 1,127 884 
Deferred fuel and purchased power2,486 3,866 1,173 2,060 
Accrued pension and OPEB2,389 2,336 757 759 
Storm cost securitized balance, net890 940 682 720 
Nuclear asset securitized balance, net830 881 830 881 
Debt fair value adjustment774 829 — — 
Hedge costs deferrals749 378 323 128 
Storm cost deferrals407 687 298 559 
COR regulatory asset371 221 337 221 
Post-in-service carrying costs (PISCC) and deferred operating expenses357 359 42 42 
Retired generation facilities275 316 220 243 
Deferred asset – Lee and Harris COLA252 288 15 21 
Customer connect project251 271 125 136 
Advanced metering infrastructure (AMI)243 283 92 111 
Incremental COVID-19 expenses237 210 80 78 
Vacation accrual228 222 43 43 
Grid Deferral210 136 51 40 
Demand side management (DSM)/Energy efficiency (EE)201 189 191 188 
CEP deferral193 190 — — 
NCEMPA deferrals172 157 172 157 
Derivatives – natural gas supply contracts147 168 — — 
Deferred pipeline integrity costs133 121 — — 
Nuclear deferral131 154 42 64 
COR settlement115 120 30 32 
Decoupling115 42 15 — 
Deferred coal ash handling system costs86 92 21 25 
Qualifying facility contract buyouts68 81 68 81 
Network Integration Transmission Services deferral31 23 — — 
Transmission expansion obligation30 31 — — 
East Bend deferrals28 33 — — 
Propane caverns26 26 — — 
Tennessee ARM Deferral20 3 — — 
Other428 327 127 77 
Total regulatory assets17,266 18,130 8,091 8,979 
Less: Current portion
3,648 3,485 1,661 1,833 
Total noncurrent regulatory assets$13,618 $14,645 $6,430 $7,146 
Regulatory Liabilities
Net regulatory liability related to income taxes$5,901 $6,462 $2,008 $2,192 
COR regulatory liability5,497 5,151 2,805 2,269 
AROs – nuclear and other1,673 1,038 — — 
Hedge cost deferrals443 683 208 252 
Accrued pension and OPEB266 211 — — 
Deferred fuel and purchased power137 35 14 — 
DSM/EE89 88 — — 
DOE Settlement32 154 32 154 
Provision for rate refunds15 78 4 28 
Other1,355 1,148 430 434 
Total regulatory liabilities 15,408 15,048 5,501 5,329 
Less: Current portion
1,369 1,466 418 576 
Total noncurrent regulatory liabilities $14,039 $13,582 $5,083 $4,753 
Schedule of Potential Plant Retirements
Duke Energy Carolinas  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,559 $1,391 (g)(b)
Deferred fuel and purchased power(i)
1,293 1,614 (e)2025
Accrued pension and OPEB
671 614 (h)
Storm cost securitized balance, net
208 220 Yes2041
Hedge costs deferrals
405 228 (b)
Storm cost deferrals
97 114 Yes(b)
PISCC and deferred operating expenses
48 47 Yes(b)
Retired generation facilities(c)
26 39 Yes(b)
Deferred asset – Lee COLA
237 267 (b)
Customer connect project(c)
58 62 Yes(b)
AMI(c)
125 139 Yes(b)
Incremental COVID-19 expenses
152 127 Yes(b)
Vacation accrual
87 84 2024
Grid Deferral(c)
159 96 Yes(b)
Nuclear deferral
89 90 2025
COR settlement(c)
85 88 Yes(b)
Deferred coal ash handling system costs(c)
65 67 Yes(b)
Other116 101 (b)
Total regulatory assets5,480 5,388 
Less: Current portion
1,564 1,095 
Total noncurrent regulatory assets$3,916 $4,293 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)
$2,200 $2,475 Yes(b)
COR regulatory liability(c)
1,641 1,769 Yes(f)
AROs – nuclear and other
1,673 1,038 (b)
Hedge cost deferrals
158 350 (b)
Accrued pension and OPEB
106 44 (h)
Deferred fuel and purchased power(i)
85 — (e)2025
DSM/EE(c)
87 86 Yes(j)
Provision for rate refunds(c)
11 50 Yes(b)
Other 616 501 (b)
Total regulatory liabilities6,577 6,313 
Less: Current portion
587 530 
Total noncurrent regulatory liabilities$5,990 $5,783 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)     Included in rate base.
(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    Recovered over the life of the associated assets.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(i)    Duke Energy Carolinas submitted a fuel filing to the NCUC in February 2023 for recovery of $998 million, which included deferrals through December 2022. The NCUC approved recovery of this balance through December 2024. The next filing will be made in the first quarter of 2024. Duke Energy Carolinas submitted a fuel filing to the PSCSC in August 2023 for recovery of $310 million, which included deferrals through May 2023. The PSCSC approved recovery of this balance through October 2024. The next filing will be made in the third quarter of 2024.
(j)    Includes incentives on DSM/EE investments and is recovered or refunded through an annual rider mechanism.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,559 $1,391 (g)(b)
Deferred fuel and purchased power(i)
1,293 1,614 (e)2025
Accrued pension and OPEB
671 614 (h)
Storm cost securitized balance, net
208 220 Yes2041
Hedge costs deferrals
405 228 (b)
Storm cost deferrals
97 114 Yes(b)
PISCC and deferred operating expenses
48 47 Yes(b)
Retired generation facilities(c)
26 39 Yes(b)
Deferred asset – Lee COLA
237 267 (b)
Customer connect project(c)
58 62 Yes(b)
AMI(c)
125 139 Yes(b)
Incremental COVID-19 expenses
152 127 Yes(b)
Vacation accrual
87 84 2024
Grid Deferral(c)
159 96 Yes(b)
Nuclear deferral
89 90 2025
COR settlement(c)
85 88 Yes(b)
Deferred coal ash handling system costs(c)
65 67 Yes(b)
Other116 101 (b)
Total regulatory assets5,480 5,388 
Less: Current portion
1,564 1,095 
Total noncurrent regulatory assets$3,916 $4,293 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)
$2,200 $2,475 Yes(b)
COR regulatory liability(c)
1,641 1,769 Yes(f)
AROs – nuclear and other
1,673 1,038 (b)
Hedge cost deferrals
158 350 (b)
Accrued pension and OPEB
106 44 (h)
Deferred fuel and purchased power(i)
85 — (e)2025
DSM/EE(c)
87 86 Yes(j)
Provision for rate refunds(c)
11 50 Yes(b)
Other 616 501 (b)
Total regulatory liabilities6,577 6,313 
Less: Current portion
587 530 
Total noncurrent regulatory liabilities$5,990 $5,783 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)     Included in rate base.
(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    Recovered over the life of the associated assets.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(i)    Duke Energy Carolinas submitted a fuel filing to the NCUC in February 2023 for recovery of $998 million, which included deferrals through December 2022. The NCUC approved recovery of this balance through December 2024. The next filing will be made in the first quarter of 2024. Duke Energy Carolinas submitted a fuel filing to the PSCSC in August 2023 for recovery of $310 million, which included deferrals through May 2023. The PSCSC approved recovery of this balance through October 2024. The next filing will be made in the third quarter of 2024.
(j)    Includes incentives on DSM/EE investments and is recovered or refunded through an annual rider mechanism.
Duke Energy Progress  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,218 $1,418 (g)(b)
AROs – nuclear and other
1,110 869 (c)
Deferred fuel and purchased power(l)
579 705 (e)2025
Accrued pension and OPEB
408 417 (j)
Storm cost securitized balance, net
682 720 Yes2041
Hedge costs deferrals
260 55 (b)
Storm cost deferrals
228 234 Yes(b)
PISCC and deferred operating expenses
42 42 Yes2054
Retired generation facilities(d)
126 149 Yes(b)
Deferred asset – Harris COLA
15 21 (b)
Customer connect project(d)
49 54 Yes(b)
AMI(d)
68 81 Yes(b)
Incremental COVID-19 expenses
80 78 (b)
Vacation accrual
43 43 2024
Grid Deferral(d)
51 40 Yes(b)
DSM/EE(d)
182 180 Yes(h)
NCEMPA deferrals(d)
172 157 (f)2042
Nuclear deferral
42 64 2025
COR settlement(d)
30 32 Yes(b)
Decoupling
15 — Yes(b)
Deferred coal ash handling system costs(d)
21 25 Yes(b)
Other67 30 (b)
Total regulatory assets5,488 5,414 
Less: Current portion
942 690 
Total noncurrent regulatory assets$4,546 $4,724 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(k)
$1,420 $1,559 Yes(b)
COR regulatory liability
2,805 2,269 (i)
Hedge cost deferrals
87 252 (b)
Deferred fuel and purchased power(l)
14 — (e)2025
Provision for rate refunds(d)
4 28 Yes(b)
Other 345 344 (b)
Total regulatory liabilities4,675 4,452 
Less: Current portion
300 332 
Total noncurrent regulatory liabilities$4,375 $4,120 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit.
(d)    Included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    South Carolina retail allocated costs are earning a return.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism.
(i)    Recovered over the life of the associated assets.
(j)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(k)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
(l)    Duke Energy Progress submitted a fuel filing to the NCUC in June 2023 for recovery of $445 million, which included deferrals through March 2023. The NCUC approved recovery of this balance through November 2024. The next filing will be made in the second quarter of 2024. Duke Energy Progress submitted a fuel filing to the PSCSC in May 2023 for recovery of $79 million, which included deferrals through February 2023. The PSCSC approved recovery of this balance through July 2024. The next filing will be made in the second quarter of 2024.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,218 $1,418 (g)(b)
AROs – nuclear and other
1,110 869 (c)
Deferred fuel and purchased power(l)
579 705 (e)2025
Accrued pension and OPEB
408 417 (j)
Storm cost securitized balance, net
682 720 Yes2041
Hedge costs deferrals
260 55 (b)
Storm cost deferrals
228 234 Yes(b)
PISCC and deferred operating expenses
42 42 Yes2054
Retired generation facilities(d)
126 149 Yes(b)
Deferred asset – Harris COLA
15 21 (b)
Customer connect project(d)
49 54 Yes(b)
AMI(d)
68 81 Yes(b)
Incremental COVID-19 expenses
80 78 (b)
Vacation accrual
43 43 2024
Grid Deferral(d)
51 40 Yes(b)
DSM/EE(d)
182 180 Yes(h)
NCEMPA deferrals(d)
172 157 (f)2042
Nuclear deferral
42 64 2025
COR settlement(d)
30 32 Yes(b)
Decoupling
15 — Yes(b)
Deferred coal ash handling system costs(d)
21 25 Yes(b)
Other67 30 (b)
Total regulatory assets5,488 5,414 
Less: Current portion
942 690 
Total noncurrent regulatory assets$4,546 $4,724 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(k)
$1,420 $1,559 Yes(b)
COR regulatory liability
2,805 2,269 (i)
Hedge cost deferrals
87 252 (b)
Deferred fuel and purchased power(l)
14 — (e)2025
Provision for rate refunds(d)
4 28 Yes(b)
Other 345 344 (b)
Total regulatory liabilities4,675 4,452 
Less: Current portion
300 332 
Total noncurrent regulatory liabilities$4,375 $4,120 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit.
(d)    Included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    South Carolina retail allocated costs are earning a return.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism.
(i)    Recovered over the life of the associated assets.
(j)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(k)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
(l)    Duke Energy Progress submitted a fuel filing to the NCUC in June 2023 for recovery of $445 million, which included deferrals through March 2023. The NCUC approved recovery of this balance through November 2024. The next filing will be made in the second quarter of 2024. Duke Energy Progress submitted a fuel filing to the PSCSC in May 2023 for recovery of $79 million, which included deferrals through February 2023. The PSCSC approved recovery of this balance through July 2024. The next filing will be made in the second quarter of 2024.
Duke Energy Florida  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$12 $11 (b)
AROs – nuclear and other
17 15 (b)
Deferred fuel and purchased power(g)
594 1,355 (e)2024
Accrued pension and OPEB(c)
349 342 Yes(f)
Nuclear asset securitized balance, net
830 881 2036
Hedge costs deferrals(c)
63 73 Yes2038
Storm cost deferrals(c)
70 325 (e)(b)
COR regulatory asset
337 221 (d)(b)
Retired generation facilities(c)
94 94 Yes2044
Customer connect project(c)
76 82 Yes2037
AMI(c)
24 30 Yes2032
Qualifying facility contract buyouts(c)
68 81 Yes2034
Other69 55 (d)(b)
Total regulatory assets2,603 3,565 
Less: Current portion
720 1,143 
Total noncurrent regulatory assets$1,883 $2,422 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(c)
$588 $633 (b)
Hedge cost deferrals
121 — (b)
DOE Settlement
32 154 2024
Other 85 90 (d)(b)
Total regulatory liabilities826 877 
Less: Current portion
118 244 
Total noncurrent regulatory liabilities$708 $633 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Certain costs earn/pay a return.
(e)    Earns commercial paper rate.
(f)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(g)    On March 6, 2023, the FPSC approved Duke Energy Florida's amended February 2023 fuel filing recovery of $469 million, which included the 2022 actual under-recovery of $1.2 billion, offset by projected declining fuel costs in 2023 due to lower natural gas prices. The approved 21-month recovery period for the actual 2022 under-recovery is April 2023 through December 2024; the reduction in 2023 fuel costs were approved to be returned over 9-months from April 2023 through December 2023. Duke Energy Florida made its most recent fuel filing in September 2023. On November 1, 2023, the FPSC approved Duke Energy Florida's September 2023 fuel filing, which included the proposed fuel factors for 2024. In addition to the under-recoveries approved above, that filing also included a re-projected 2023 over-recovery of approximately $120 million that will be returned to customers January 2024 through December 2024.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$12 $11 (b)
AROs – nuclear and other
17 15 (b)
Deferred fuel and purchased power(g)
594 1,355 (e)2024
Accrued pension and OPEB(c)
349 342 Yes(f)
Nuclear asset securitized balance, net
830 881 2036
Hedge costs deferrals(c)
63 73 Yes2038
Storm cost deferrals(c)
70 325 (e)(b)
COR regulatory asset
337 221 (d)(b)
Retired generation facilities(c)
94 94 Yes2044
Customer connect project(c)
76 82 Yes2037
AMI(c)
24 30 Yes2032
Qualifying facility contract buyouts(c)
68 81 Yes2034
Other69 55 (d)(b)
Total regulatory assets2,603 3,565 
Less: Current portion
720 1,143 
Total noncurrent regulatory assets$1,883 $2,422 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(c)
$588 $633 (b)
Hedge cost deferrals
121 — (b)
DOE Settlement
32 154 2024
Other 85 90 (d)(b)
Total regulatory liabilities826 877 
Less: Current portion
118 244 
Total noncurrent regulatory liabilities$708 $633 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Certain costs earn/pay a return.
(e)    Earns commercial paper rate.
(f)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(g)    On March 6, 2023, the FPSC approved Duke Energy Florida's amended February 2023 fuel filing recovery of $469 million, which included the 2022 actual under-recovery of $1.2 billion, offset by projected declining fuel costs in 2023 due to lower natural gas prices. The approved 21-month recovery period for the actual 2022 under-recovery is April 2023 through December 2024; the reduction in 2023 fuel costs were approved to be returned over 9-months from April 2023 through December 2023. Duke Energy Florida made its most recent fuel filing in September 2023. On November 1, 2023, the FPSC approved Duke Energy Florida's September 2023 fuel filing, which included the proposed fuel factors for 2024. In addition to the under-recoveries approved above, that filing also included a re-projected 2023 over-recovery of approximately $120 million that will be returned to customers January 2024 through December 2024.
Duke Energy Ohio  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$17 $— Yes(b)
Deferred fuel and purchased gas costs
20 54 2024
Accrued pension and OPEB
123 129 (e)
Storm cost deferrals
12 14 2024
COR regulatory asset
34 — (b)
PISCC and deferred operating expenses(c)
15 15 Yes2083
Customer connect project
49 54 (b)
AMI
13 18 (b)
CEP deferral
193 190 Yes(b)
Deferred pipeline integrity costs
30 28 Yes(b)
Decoupling
25 — (b)
Network Integration Transmission Services deferral
31 23 Yes(b)
Transmission expansion obligation
30 31 (b)
East Bend deferrals(c)
28 33 Yes(b)
Propane caverns
26 26 (b)
Other103 69 (b)
Total regulatory assets749 684 
Less: Current portion
73 103 
Total noncurrent regulatory assets$676 $581 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$466 $496 (b)
COR regulatory liability
— 9 (d)
Accrued pension and OPEB
17 21 (e)
Deferred fuel and purchased gas costs
15 35 2024
Other 55 72 (b)
Total regulatory liabilities553 633 
Less: Current portion
56 99 
Total noncurrent regulatory liabilities$497 $534 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovery over the life of the associated assets.
(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$17 $— Yes(b)
Deferred fuel and purchased gas costs
20 54 2024
Accrued pension and OPEB
123 129 (e)
Storm cost deferrals
12 14 2024
COR regulatory asset
34 — (b)
PISCC and deferred operating expenses(c)
15 15 Yes2083
Customer connect project
49 54 (b)
AMI
13 18 (b)
CEP deferral
193 190 Yes(b)
Deferred pipeline integrity costs
30 28 Yes(b)
Decoupling
25 — (b)
Network Integration Transmission Services deferral
31 23 Yes(b)
Transmission expansion obligation
30 31 (b)
East Bend deferrals(c)
28 33 Yes(b)
Propane caverns
26 26 (b)
Other103 69 (b)
Total regulatory assets749 684 
Less: Current portion
73 103 
Total noncurrent regulatory assets$676 $581 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$466 $496 (b)
COR regulatory liability
— 9 (d)
Accrued pension and OPEB
17 21 (e)
Deferred fuel and purchased gas costs
15 35 2024
Other 55 72 (b)
Total regulatory liabilities553 633 
Less: Current portion
56 99 
Total noncurrent regulatory liabilities$497 $534 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovery over the life of the associated assets.
(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Duke Energy Indiana  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$408 $385 Yes(b)
Deferred fuel and purchased power
— 138 2024
Accrued pension and OPEB
208 214 (e)
Hedge costs deferrals
19 20 (b)
PISCC and deferred operating expenses(c)
252 255 Yes(b)
Retired generation facilities(c)
29 34 Yes2030
Customer connect project
19 19 (b)
AMI
13 15 2031
Other48 44 (b)
Total regulatory assets996 1,124 
Less: Current portion
102 249 
Total noncurrent regulatory assets$894 $875 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$794 $840 (b)
COR regulatory liability
496 531 (d)
Hedge cost deferrals
77 81 (b)
Accrued pension and OPEB
109 104 (e)
Deferred fuel and purchased power
23 — 2024
Other 169 85 (b)
Total regulatory liabilities1,668 1,641 
Less: Current portion
209 187 
Total noncurrent regulatory liabilities$1,459 $1,454 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Refunded over the life of the associated assets.
(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$408 $385 Yes(b)
Deferred fuel and purchased power
— 138 2024
Accrued pension and OPEB
208 214 (e)
Hedge costs deferrals
19 20 (b)
PISCC and deferred operating expenses(c)
252 255 Yes(b)
Retired generation facilities(c)
29 34 Yes2030
Customer connect project
19 19 (b)
AMI
13 15 2031
Other48 44 (b)
Total regulatory assets996 1,124 
Less: Current portion
102 249 
Total noncurrent regulatory assets$894 $875 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$794 $840 (b)
COR regulatory liability
496 531 (d)
Hedge cost deferrals
77 81 (b)
Accrued pension and OPEB
109 104 (e)
Deferred fuel and purchased power
23 — 2024
Other 169 85 (b)
Total regulatory liabilities1,668 1,641 
Less: Current portion
209 187 
Total noncurrent regulatory liabilities$1,459 $1,454 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Refunded over the life of the associated assets.
(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Piedmont  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – nuclear and other
$26 $27 (d)
Accrued pension and OPEB(c)
129 119 (g)
Vacation accrual
13 12 2024
Derivatives – natural gas supply contracts(f)
147 168 
Deferred pipeline integrity costs(c)
103 93 2025
Decoupling
75 42 (e)(b)
Tennessee ARM Deferral
20 3 (e)(b)
Other58 47 (e)(b)
Total regulatory assets571 511 
Less: Current portion
161 119 
Total noncurrent regulatory assets$410 $392 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$433 $459 (b)
COR regulatory liability(c)
555 573 (d)
Other 98 66 (e)(b)
Total regulatory liabilities1,086 1,098 
Less: Current portion
98 74 
Total noncurrent regulatory liabilities$988 $1,024 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovery over the life of the associated assets.
(e)    Certain costs earn/pay a return.
(f)    Balance will fluctuate with changes in the market. Current contracts extend into 2031.
(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20232022a ReturnPeriod Ends
Regulatory Assets(a)
AROs – nuclear and other
$26 $27 (d)
Accrued pension and OPEB(c)
129 119 (g)
Vacation accrual
13 12 2024
Derivatives – natural gas supply contracts(f)
147 168 
Deferred pipeline integrity costs(c)
103 93 2025
Decoupling
75 42 (e)(b)
Tennessee ARM Deferral
20 3 (e)(b)
Other58 47 (e)(b)
Total regulatory assets571 511 
Less: Current portion
161 119 
Total noncurrent regulatory assets$410 $392 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$433 $459 (b)
COR regulatory liability(c)
555 573 (d)
Other 98 66 (e)(b)
Total regulatory liabilities1,086 1,098 
Less: Current portion
98 74 
Total noncurrent regulatory liabilities$988 $1,024 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovery over the life of the associated assets.
(e)    Certain costs earn/pay a return.
(f)    Balance will fluctuate with changes in the market. Current contracts extend into 2031.
(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
v3.24.0.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Legal Reserves
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 Other Current Liabilities and Other within Other Noncurrent Liabilities on the Consolidated Balance Sheets.
(in millions)December 31, 2023December 31, 2022
Reserves for Environmental Remediation
Duke Energy$88 $84 
Duke Energy Carolinas23 22 
Progress Energy19 19 
Duke Energy Progress9 8 
Duke Energy Florida10 11 
Duke Energy Ohio36 33 
Duke Energy Indiana2 3 
Piedmont7 7 
Schedule of Purchase Power Obligations
The following table presents executory purchased power contracts with terms exceeding one year, excluding contracts classified as leases.
  Minimum Purchase Amount at December 31, 2023
Contract
(in millions) Expiration20242025202620272028ThereafterTotal
Duke Energy Progress(a)
2028-2032$21 $22 $18 $19 $19 $7 $106 
Duke Energy Florida(b)
2025
86 91 — — — — 177 
Duke Energy Ohio(c)
2025
153 98 — — — — 251 
Duke Energy Indiana(c)
2026
12 20 8 — — — 40 
(a)    Contracts represent between 18% and 100% of net plant output.
(b)    Contracts represent 100% of net plant output.
(c)    Share of net plant output varies. Duke Energy Ohio excludes PPA with OVEC.
Schedule of Natural Gas Supply Contract Commitments
The following table presents future unconditional purchase obligations under natural gas supply and capacity contracts as of December 31, 2023.
(in millions)20242025202620272028ThereafterTotal
Duke Energy Ohio$103 $87 $57 $53 $51 $574 $925 
Piedmont295 287 268 209 186 373 1,618 
v3.24.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Lease Costs and Cash Flows Information
The following tables present the components of lease expense.
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$236 $41 $157 $80 $77 $11 $17 $2 
Short-term lease expense(a)
5 — 2 1 1 — 1 — 
Variable lease expense(a)
27 2 22 11 11 — — 1 
Finance lease expense
Amortization of leased assets(b)
160 7 57 35 22 — — — 
Interest on lease liabilities(c)
46 31 45 43 2 — 1 — 
Total finance lease expense206 38 102 78 24 — 1 — 
Total lease expense$474 $81 $283 $170 $113 $11 $19 $3 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$229 $39 $153 $83 $70 $10 $19 $6 
Short-term lease expense(a)
4 — 1 — 1 — 2 — 
Variable lease expense(a)
61 (1)60 37 23 — — 1 
Finance lease expense
Amortization of leased assets(b)
151 6 61 41 20 — — — 
Interest on lease liabilities(c)
50 32 49 45 4 — 1 — 
Total finance lease expense201 38 110 86 24 — 1 — 
Total lease expense$495 $76 $324 $206 $118 $10 $22 $7 
(a)    Included in Operations, maintenance and other or, for barges and railcars, Fuel used in electric generation and purchased power on the Consolidated Statements of Operations.
(b)    Included in Depreciation and amortization on the Consolidated Statements of Operations.
(c)    Included in Interest Expense on the Consolidated Statements of Operations.
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$228 $18 $123 $64 $59 $2 $7 $— 
Operating cash flows from finance leases46 31 45 43 2 — 1 — 
Financing cash flows from finance leases160 7 57 35 22 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$286 $14 $92 $1 $91 $2 $6 $2 
Finance36 — — — — — — — 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$230 $24 $118 $63 $55 $2 $6 $4 
Operating cash flows from finance leases50 32 49 45 4 — 1 — 
Financing cash flows from finance leases151 6 61 41 20 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$111 $10 $— $— $— $— $— $— 
Finance— — — — — — — — 
(a)    No amounts were classified as investing cash flows from operating leases.
Operating Lease Maturities
The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
2024$244 $21 $116 $56 $60 $2 $7 $5 
2025214 16 102 42 60 2 7 4 
2026201 15 105 46 59 2 6 1 
2027170 9 79 47 32 2 5 — 
2028136 8 67 47 20 1 4 — 
Thereafter388 41 315 163 152 13 39 — 
Total operating lease payments1,353 110 784 401 383 22 68 10 
Less: Present value discount
(248)(20)(146)(63)(83)(5)(16)— 
Total operating lease liabilities(a)
$1,105 $90 $638 $338 $300 $17 $52 $10 
(a)    Certain operating lease payments include renewal options that are reasonably certain to be exercised.
Maturities of Finance Lease Liabilities
The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities.
December 31, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
2024$157 $38 $88 $79 $9 $1 
202588 38 85 80 5 1 
202683 38 86 81 5 1 
202776 38 83 81 2 1 
202874 38 81 81 — 1 
Thereafter511 389 474 474 — 21 
Total finance lease payments989 579 897 876 21 26 
Less: Amounts representing interest
(350)(302)(326)(324)(2)(17)
Total finance lease liabilities$639 $277 $571 $552 $19 $9 
Balance Sheet Amounts Recorded for Operating and Finance Leases
The following tables contain additional information related to leases.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,092 $78 $617 $318 $299 $16 $50 $4 
FinanceNet property, plant and equipment687 268 615 552 63 — 6 — 
Total lease assets$1,779 $346 $1,232 $870 $362 $16 $56 $4 
Liabilities
Current
OperatingOther current liabilities$188 $15 $94 $45 $49 $1 $6 $— 
FinanceCurrent maturities of long-term debt115 8 46 38 8 — — — 
Noncurrent
OperatingOperating lease liabilities917 75 544 293 251 16 46 10 
FinanceLong-Term Debt524 269 525 514 11 — 9 — 
Total lease liabilities$1,744 $367 $1,209 $890 $319 $17 $61 $10 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,042 $78 $628 $370 $258 $18 $49 $4 
FinanceNet property, plant and equipment810 284 674 590 84 — 6 — 
Total lease assets$1,852 $362 $1,302 $960 $342 $18 $55 $4 
Liabilities
Current
OperatingOther current liabilities$179 $14 $96 $51 $45 $1 $4 $— 
FinanceCurrent maturities of long-term debt153 7 57 35 22 — — — 
Noncurrent
OperatingOperating lease liabilities876 83 546 335 211 17 47 13 
FinanceLong-Term Debt611 277 571 552 19 — 9 — 
Total lease liabilities$1,819 $381 $1,270 $973 $297 $18 $60 $13 
Supplemental Lease Information
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases9101091113134
Finance leases1116111118— 223
Weighted average discount rate(a)
Operating leases3.1 %4.0 %3.8 %3.6 %4.0 %4.2 %3.9 %2.4 %
Finance leases8.5 %11.5 %9.1 %9.2 %7.6 %— %11.9 %5.4 %
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases81089615151
Finance leases1017121212— 23— 
Weighted average discount rate(a)
Operating leases3.4 %3.8 %3.6 %3.5 %3.8 %4.2 %4.0 %3.3 %
Finance leases7.7 %11.5 %9.1 %9.1 %8.0 %— %11.9 %— %
(a)    The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets.
v3.24.0.1
Debt and Credit Facilities (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Debt
The following tables summarize outstanding debt.
 December 31, 2023
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2024-2082
4.36 %$30,435 $1,150 $1,800 $— $150 $1,155 $393 $3,695 
Secured debt, maturing 2024-2052
4.23 %4,202 1,441 2,379 1,121 1,258 — — — 
First mortgage bonds, maturing 2025-2073(a)
4.18 %37,443 12,955 18,550 9,475 9,075 2,300 3,638 — 
Finance leases, maturing 2024-2051(b)
639 277 571 552 19 — 9 — 
Tax-exempt bonds, maturing 2027-2046(c)
3.89 %1,331 — 500 500 — 77 352 — 
Notes payable and commercial paper(d)
5.58 %4,925 — — — — — — — 
Money pool/intercompany borrowings — 968 1,193 1,041 152 638 407 538 
Fair value hedge carrying value adjustment  32 — — — — — — — 
Unamortized debt discount and premium, net(e)
 916 (29)(46)(24)(20)(24)(16)(8)
Unamortized debt issuance costs(f)
(383)(82)(145)(60)(81)(15)(25)(19)
Total debt 4.35 %$79,540 $16,680 $24,802 $12,605 $10,553 $4,131 $4,758 $4,206 
Short-term notes payable and commercial paper  (4,288)— — — — — — — 
Short-term money pool/intercompany borrowings — (668)(1,043)(891)(152)(613)(256)(538)
Current maturities of long-term debt(g)
 (2,800)(19)(661)(72)(589)— (4)(40)
Total long-term debt(g)
$72,452 $15,993 $23,098 $11,642 $9,812 $3,518 $4,498 $3,628 
(a)Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)Duke Energy includes $63 million of finance lease purchase accounting adjustments related to Duke Energy Florida related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.
(c)Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.
(d)Includes $625 million classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper program was 23 days.
(e)Duke Energy includes $992 million and $69 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(f)Duke Energy includes $25 million in purchase accounting adjustments primarily related to the merger with Progress Energy.
(g)Refer to Note 18 for additional information on amounts from consolidated VIEs.
 December 31, 2022
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2023-2082
4.20 %$29,585 $1,150 $2,600 $— $950 $1,330 $697 $3,390 
Secured debt, maturing 2023-2052
3.70 %4,116 1,317 2,383 1,155 1,228 — — — 
First mortgage bonds, maturing 2023-2052(a)
3.89 %32,645 11,306 16,350 8,776 7,576 1,850 3,138 — 
Finance leases, maturing 2024-2051(b)
764 284 628 587 41 — 9 — 
Tax-exempt bonds, maturing 2027-2046(c)
3.84 %1,331 — 500 500 — 77 352 — 
Notes payable and commercial paper(d)
4.50 %4,582 — — — — — — — 
Money pool/intercompany borrowings— 1,533 993 389 605 522 585 514 
Fair value hedge carrying value adjustment (5)— — — — — — — 
Unamortized debt discount and premium, net(e)
1,016 (21)(40)(23)(16)(25)(17)(9)
Unamortized debt issuance costs(f)
(331)(70)(132)(59)(70)(12)(22)(18)
Total debt 4.07 %$73,703 $15,499 $23,282 $11,325 $10,314 $3,742 $4,742 $3,877 
Short-term notes payable and commercial paper  (3,952)— — — — — — — 
Short-term money pool/intercompany borrowings — (1,233)(843)(238)(605)(497)(435)(514)
Current maturities of long-term debt(g)
 (3,878)(1,018)(697)(369)(328)(475)(303)(45)
Total long-term debt(g)
$65,873 $13,248 $21,742 $10,718 $9,381 $2,770 $4,004 $3,318 
(a)    Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)    Duke Energy includes $164 million of finance lease purchase accounting adjustments related to Duke Energy Florida related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.
(c)    Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.
(d)    Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper programs was 15 days.
(e)    Duke Energy includes $1,057 million and $85 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(f)    Duke Energy includes $27 million in purchase accounting adjustments primarily related to the merger with Progress Energy.
(g)     Refer to Note 18 for additional information on amounts from consolidated VIEs.
The following table shows the significant components of Current maturities of Long-Term Debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.
(in millions)Maturity DateInterest RateDecember 31, 2023
Unsecured Debt
Duke Energy (Parent) Term Loan Facility(a)
March 2024
6.157 %1,000 
Duke Energy (Parent)
April 2024
3.750 %1,000 
First Mortgage Bonds
Duke Energy Florida(b)
October 2073
4.960 %200 
Other(c)
600 
Current maturities of long-term debt$2,800 
(a)    Debt has a floating interest rate. In January 2024, Duke Energy (Parent) repaid the Term Loan Facility due March 2024.
(b)    While final maturity is October 2073, these first mortgage bonds are classified as Current maturities of long-term debt on the Consolidated Balance Sheets beginning December 31, 2023, based on terms of the indenture, which could require repayment in less than 12 months if exercised by the bondholders.
(c)    Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.
The following tables show short-term obligations classified as long-term debt.
 
December 31, 2023 and 2022
DukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasProgressOhioIndiana
Tax-exempt bonds $312 $— $— $27 $285 
Commercial paper(a)
625 300 150 25 150 
Total $937 $300 $150 $52 $435 
(a)    Progress Energy amounts are equal to Duke Energy Progress amounts.
Schedule of Maturities of Long-term Debt
The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable, commercial paper and money pool borrowings and debt issuance costs for the Subsidiary Registrants.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy(a)
CarolinasEnergyProgressFloridaOhioIndianaPiedmont
2024$2,800 $19 $664 $72 $592 $— $4 $40 
20254,177 521 1,040 975 65 245 4 205 
20264,280 623 345 279 66 45 4 40 
20272,472 25 797 83 714 77 27 300 
20284,593 1,276 1,551 737 815 65 157 — 
Thereafter56,375 13,659 19,543 9,652 8,239 3,125 4,347 3,110 
Total long-term debt, including current maturities$74,697 $16,123 $23,940 $11,798 $10,491 $3,557 $4,543 $3,695 
(a)    Excludes $1,086 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition.
Schedule of Long-term Debt Instruments
The following tables summarize significant debt issuances (in millions).
Year Ended December 31, 2023
DukeDukeDukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Unsecured Debt
April 2023(a)
April 20264.125 %$1,725 $1,725 $— $— $— $— $— $— 
June 2023(b)
June 20335.400 %350 — — — — — — 350 
September 2023(c)
September 2033
5.750 %600 600 — — — — — — 
September 2023(c)
September 2053
6.100 %750 750 — — — — — — 
First Mortgage Bonds
January 2023(d)
January 20334.950 %900 — 900 — — — — — 
January 2023(d)
January 20535.350 %900 — 900 — — — — — 
March 2023(e)
March 20335.250 %500 — — 500 — — — — 
March 2023(e)
March 20535.350 %500 — — 500 — — — — 
March 2023(f)
April 20335.250 %375 — — — — 375 — — 
March 2023(f)
April 20535.650 %375 — — — — 375 — — 
March 2023(g)
April 20535.400 %500 — — — — — 500 — 
June 2023(h)
January 20334.950 %350 — 350 — — — — — 
June 2023(h)
January 20545.400 %500 — 500 — — — — — 
September 2023(h)
October 2073
4.960 %200 — — — 200 — — — 
November 2023(i)
November 2033
5.875 %600 — — — 600 — — — 
November 2023(i)
November 2053
6.200 %700 — — — 700 — — — 
Total issuances$9,825 $3,075 $2,650 $1,000 $1,500 $750 $500 $350 
(a)See "Duke Energy (Parent) Convertible Senior Notes" below for additional information.
(b)Debt issued to repay $45 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(c)Debt issued to repay $400 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(d)Debt issued to repay $1 billion of maturities due March 2023, to pay down a portion of short-term debt and for general company purposes.
(e)Debt issued to repay $300 million of maturities due September 2023, to pay down a portion of short-term debt and for general company purposes.
(f)Debt issued to repay $300 million of maturities due September 2023, to pay down a portion of the $100 million Duke Energy Ohio Term Loan due October 2023, to repay a portion of short-term debt and for general corporate purposes.
(g)Debt issued to repay the $300 million Duke Energy Indiana Term Loan due October 2023, to pay down a portion of short-term debt and for general company purposes.
(h)Debt issued to pay down a portion of short-term debt and for general company purposes.
(i)Debt issued to repay the $800 million Duke Energy Florida Term Loan due April 2024, to pay down a portion of short-term debt and for general company purposes.
Year Ended December 31, 2022
DukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaPiedmont
Unsecured Debt
May 2022(a)
May 20525.050 %$400 $— $— $— $— $400 
June 2022(b)
June 20284.750 %645 645 — — — — 
June 2022(b)
June 20345.306 %537 537 — — — — 
August 2022(c)
March 20284.300 %900 900 — — — — 
August 2022(c)
August 20324.500 %1,150 1,150 — — — — 
August 2022(c)
August 20525.000 %1,150 1,150 — — — 
December 2022(c)
December 20255.000 %500 500 — — — — 
December 2022(c)
December 20275.000 %500 500 — — — — 
First Mortgage Bonds
March 2022(d)
March 20322.850 %500 — 500 — — — 
March 2022(d)
March 20523.550 %650 — 650 — — — 
March 2022(d)
April 20323.400 %500 — — 500 — — 
March 2022(d)
April 20524.000 %

400 — — 400 — — 
November 2022(e)
November 20525.950 %500 — — — 500 — 
Tax-exempt Bonds— — — — — 
June 2022(f)
September 20304.000 %168 168 — — — — 
June 2022(f)
November 20394.250 %234 234 — — — — 
September 2022(g)
October 20463.300 %200 — — 200 — 
September 2022(h)
October 20463.700 %210 — — 210 — 
September 2022(h)
October 20464.000 %42 — — 42 — 
Total issuances$9,186 $5,784 $1,150 $1,352 $500 $400 
(a)Debt issued to repay a portion of short-term debt and for general corporate purposes.
(b)Duke Energy (Parent) issued 600 million euros aggregate principal amount of 3.10% senior notes due June 2028 and 500 million euros aggregate principal amount of 3.85% senior notes due June 2034. Debt issued to repay a $500 million debt maturity, pay down a portion of short-term debt and for general corporate purposes. Duke Energy's obligations under its euro-denominated fixed-rate notes were effectively converted to fixed-rate U.S. dollars at issuance through cross-currency swaps, mitigating foreign currency exchange risk associated with the interest and principal payments. See Note 15 for additional information.
(c)Debt issued to repay a portion of short-term debt and for general corporate purposes.
(d)Debt issued to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework.
(e)Debt issued to repay a portion of short-term debt and for general company purposes.
(f)Debt issued to refund the Ohio Air Quality Development Revenue Refunding bonds, previously held in treasury, which were used to finance or refinance portions of certain solid waste disposal facilities. The mandatory purchase date of these bonds is June 1, 2027.
(g)Debt issued to provide funds to refund the prior bonds, which were used to finance or refinance portions of certain air and water pollution control equipment and solid waste disposal equipment. The mandatory purchase date of these bonds is October 1, 2026.
(h)Debt issued to provide funds to refund the prior bonds, which were used to finance or refinance portions of certain air and water pollution control equipment and solid waste disposal equipment. The mandatory purchase date of these bonds is October 1, 2030.
Schedule of Line of Credit Facilities
The table below includes the current borrowing sublimits and available capacity under these credit facilities.
 December 31, 2023
DukeDukeDukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergyEnergyEnergy
(in millions) Energy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Facility size(a)
$9,000 $2,275 $1,575 $1,400 $950 $1,050 $950 $800 
Reduction to backstop issuances
Commercial paper(b)
(3,941)(198)(968)(1,041)(152)(638)(406)(538)
Outstanding letters of credit (39)(27)(4)(1)(7)— — — 
Tax-exempt bonds (81)— — — — — (81)— 
Available capacity $4,939 $2,050 $603 $358 $791 $412 $463 $262 
(a)    Represents the sublimit of each borrower.
(b)    Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets.
v3.24.0.1
Joint Ownership of Generating and Transmission Facilities (Tables)
 12 Months Ended
Dec. 31, 2023
Joint Ownership Of Generating And Transmission Facilities [Abstract]  
Schedule Joint Ownership of Generating and Transmission Facilities
The following table presents the Duke Energy Registrants' interest of jointly owned plant or facilities and amounts included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants and are included in the EU&I segment.
 December 31, 2023
Construction
OwnershipProperty, PlantAccumulatedWork in
(in millions except for ownership interest)Interestand EquipmentDepreciationProgress
Duke Energy Carolinas     
Catawba (units 1 and 2)(a)
19.25 %$976 $559 $42 
W.S. Lee CC(b)
87.27 %654 98 2 
Duke Energy Indiana     
Gibson (unit 5)(c)
50.05 %460 263 4 
Vermillion(d)
62.50 %183 119 — 
Transmission and local facilities(c)
Various7,252 1,578 180 
(a)    Jointly owned with North Carolina Municipal Power Agency Number 1, NCEMC and PMPA.
(b)    Jointly owned with NCEMC.
(c)    Jointly owned with WVPA and IMPA.
(d)    Jointly owned with WVPA.
v3.24.0.1
Asset Retirement Obligations (Tables)
 12 Months Ended
Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Asset Retirement Obligations by Category
The following table presents the AROs recorded on the Consolidated Balance Sheets.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Decommissioning of nuclear power facilities
$4,576 $1,949 $2,601 $2,410 $191 $— $— $— 
Closure of ash impoundments4,313 2,010 1,449 1,427 21 73 781 — 
Other267 54 95 33 63 63 28 26 
Total asset retirement obligation$9,156 $4,013 $4,145 $3,870 $275 $136 $809 $26 
Less: Current portion596 224 245 244 1 6 120 — 
Total noncurrent asset retirement obligation$8,560 $3,789 $3,900 $3,626 $274 $130 $689 $26 
Public Utilities General Disclosures
The following table summarizes information about the most recent site-specific nuclear decommissioning cost studies. Decommissioning costs are stated in 2023 or 2019 dollars, depending on the year of the cost study, and include costs to decommission plant components not subject to radioactive contamination.
Annual FundingDecommissioning
(in millions)
Requirement(a)
Costs(a)
Year of Cost Study
Duke Energy$4 $8,814 
2023 or 2019
Duke Energy Carolinas(b)(c)
— 4,439 2023
Duke Energy Progress(d)
4 4,181 2019
Duke Energy Florida(e)
— 194 N/A
(a)    Amount represents annual funding requirement for the current fiscal year. Amounts for Progress Energy equal the sum of Duke Energy Progress and Duke Energy Florida.
(b)    Decommissioning costs for Duke Energy Carolinas reflects its ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors.
(c)    Duke Energy Carolinas' site-specific nuclear decommissioning cost study completed in 2023 was filed with the NCUC and PSCSC in 2024. A funding study was last completed and filed in 2019. An updated funding study will be completed and filed with the NCUC and PSCSC in 2024.
(d)    Duke Energy Progress' site-specific nuclear decommissioning cost study completed in 2019 was filed with the NCUC and PSCSC in March 2020. Duke Energy Progress also completed a funding study, which was filed with the NCUC and PSCSC in July 2020. In October 2021, Duke Energy Progress filed the 2019 nuclear decommissioning cost study with the FERC, as well as a revised rate schedule for decommissioning expense to be collected from wholesale customers. The FERC accepted the filing, as filed on December 9, 2021.
(e)    During 2019, Duke Energy Florida reached an agreement to transfer decommissioning work for Crystal River Unit 3 to a third party and decommissioning costs are based on the agreement with this third party rather than a cost study. Regulatory approval was received from the NRC and the FPSC in April 2020 and August 2020, respectively. Duke Energy Florida provides the FPSC periodic reports on the status and progress of decommissioning activities.
The following table presents the fair value of NDTF assets legally restricted for purposes of settling AROs associated with nuclear decommissioning. Duke Energy Florida entered into an agreement with a third party to decommission Crystal River Unit 3 and was granted an exemption from the NRC, which allows for use of the NDTF for all aspects of nuclear decommissioning. The entire balance of Duke Energy Florida's NDTF may be applied toward license termination, spent fuel and site restoration costs incurred to decommission Crystal River Unit 3 and is excluded from the table below. See Note 17 for additional information related to the fair value of the Duke Energy Registrants' NDTFs.
December 31,
(in millions)20232022
Duke Energy$8,851 $7,466 
Duke Energy Carolinas5,002 4,208 
Duke Energy Progress3,849 3,258 
The following table includes the current expiration of nuclear operating licenses.
UnitYear of Expiration
Duke Energy Carolinas
Catawba Units 1 and 22043
McGuire Unit 12041
McGuire Unit 22043
Oconee Units 1 and 22033
Oconee Unit 32034
Duke Energy Progress
Brunswick Unit 12036
Brunswick Unit 22034
Harris2046
Robinson2030
Rollforward Schedule of Asset Retirement Obligations
The following tables present changes in the liability associated with AROs.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2021$12,600 $5,301 $6,112 $5,675 $437 $136 $987 $22 
Accretion expense(a)
501 242 229 215 14 6 30 1 
Liabilities settled(b)
(680)(234)(334)(228)(106)(13)(98)— 
Liabilities incurred in the current year22 — 18 — 18 — 5 — 
Revisions in estimates of cash flows(c)
285 73 156 161 (5)25 27 3 
Balance at December 31, 202212,728 5,382 6,181 5,823 358 154 951 26 
Accretion expense(a)
523 254 237 225 12 7 33 1 
Liabilities settled(b)
(758)(256)(379)(292)(87)(15)(108)— 
Liabilities incurred in the current year29 3 21 6 15 1 4 — 
Revisions in estimates of cash flows(c)
(3,366)(1,370)(1,915)(1,892)(23)(11)(71)(1)
Balance at December 31, 2023$9,156 $4,013 $4,145 $3,870 $275 $136 $809 $26 
(a)    Substantially all accretion expense for the years ended December 31, 2023, and 2022, relates to Duke Energy’s regulated operations and has been deferred in accordance with regulatory accounting treatment.
(b)    Amounts primarily relate to ash impoundment closures and nuclear decommissioning.
(c)    The amounts recorded represent the discounted cash flows for estimated closure costs as evaluated on a site-by-site basis. The increases in 2022 primarily relate to higher unit costs associated with basin closure and routine maintenance. The decreases in 2023 primarily relate to lower discounted cash flows for decommissioning the nuclear power facilities due to changes in estimates and economic assumptions including discount rates, cost escalation rates and cash flow timing, as well as lower unit costs associated with basin closure, routine maintenance and beneficiation activities, as well as reduction in monitoring wells needed.
v3.24.0.1
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 Years Ended December 31,
 202320222021
Duke Energy 2.9 %3.0 %2.9 %
Duke Energy Carolinas 2.7 %2.7 %2.7 %
Progress Energy 3.3 %3.2 %3.1 %
Duke Energy Progress 3.1 %3.0 %3.0 %
Duke Energy Florida 3.5 %3.5 %3.3 %
Duke Energy Ohio 2.8 %2.9 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.6 %
Piedmont2.1 %2.1 %2.1 %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
December 31, 2023
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,345 $581 $1,012 $502 $510 $242 $133 $352 
Plant – Regulated
Electric generation, distribution and transmission 40129,985 48,107 57,436 33,171 24,265 7,243 17,199 — 
Natural gas transmission and distribution 5714,130 — — — — 3,993 — 10,137 
Other buildings and improvements 422,887 1,213 677 377 300 421 355 221 
Nuclear fuel 3,303 1,866 1,437 1,437 — — — — 
Equipment 143,409 870 1,104 654 450 474 442 143 
Construction in process 8,372 2,578 3,941 1,661 2,280 427 427 690 
Other126,920 1,455 2,037 1,481 548 410 344 363 
Total property, plant and equipment(a)
171,351 56,670 67,644 39,283 28,353 13,210 18,900 11,906 
Total accumulated depreciation – regulated(b)(c)
(54,323)(19,896)(22,300)(15,227)(7,067)(3,451)(6,501)(2,259)
Total accumulated depreciation – other(d)
(1,715)— — — — — — — 
Facilities to be retired, net2 — — — — — — 2 
Total net property, plant and equipment $115,315 $36,774 $45,344 $24,056 $21,286 $9,759 $12,399 $9,649 
(a)    Includes finance leases of $697 million, $335 million, $615 million, $552 million, $63 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $292 million, $119 million and $173 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,793 million, $991 million, $802 million and $802 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $3 million, $67 million and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $7 million at Duke Energy.
December 31, 2022
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,232 $565 $993 $496 $497 $230 $124 $295 
Plant – Regulated
Electric generation, distribution and transmission 39126,016 46,640 55,872 33,336 22,536 6,900 16,604 — 
Natural gas transmission and distribution 5613,174 — — — — 3,773 — 9,401 
Other buildings and improvements 402,537 973 647 341 306 398 336 183 
Nuclear fuel 3,081 1,723 1,358 1,358 — — — — 
Equipment 132,959 710 936 567 369 441 356 125 
Construction in process 7,381 2,671 3,073 1,317 1,756 375 381 478 
Other136,459 1,368 1,943 1,460 476 380 320 387 
Total property, plant and equipment(a)
163,839 54,650 64,822 38,875 25,940 12,497 18,121 10,869 
Total accumulated depreciation – regulated(b)(c)
(50,544)(18,669)(20,584)(14,201)(6,377)(3,250)(6,021)(2,081)
Total accumulated depreciation – other(d)
(1,556)— — — — — — — 
Facilities to be retired, net9 — — — — — — 9 
Total net property, plant and equipment $111,748 $35,981 $44,238 $24,674 $19,563 $9,247 $12,100 $8,797 
(a)    Includes finance leases of $816 million, $335 million, $674 million, $590 million, $84 million, and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $233 million, $81 million and $152 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,683 million, $934 million, $749 million and $749 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $7 million, $51 million, and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of ($1 million) at Duke Energy.
Duke Energy has continued to execute on its business transformation strategy, including the evaluation of in-office work policies considering the experience with the COVID-19 pandemic and also workforce realignment of roles and responsibilities. In May 2021, Duke Energy management approved the sale of certain properties and entered into an agreement to exit certain leased space on December 31, 2021. The sale of the properties was subject to abandonment accounting and resulted in an impairment charge. Additionally, the exit of the leased space resulted in the impairment of related furniture, fixtures and equipment. During the year ended December 31, 2021, Duke Energy recorded a pretax charge to earnings of $192 million on the Consolidated Statements of Operations, which includes $133 million within Impairment of assets and other charges, $42 million within Operations, maintenance and other and $17 million within Depreciation and amortization.
Schedule of Capitalized Interest
The following table presents capitalized interest, which includes the debt component of AFUDC.
Years Ended December 31,
(in millions)202320222021
Duke Energy$201 $118 $66 
Duke Energy Carolinas62 50 29 
Progress Energy41 26 20 
Duke Energy Progress35 19 14 
Duke Energy Florida6 7 6 
Duke Energy Ohio16 14 20 
Duke Energy Indiana(a)
21 3 (17)
Piedmont8 4 9 
(a)    In 2021, Duke Energy Indiana is primarily compromised of ($24 million) of PISCC amortization, which is partially offset by $7 million of the debt component of AFUDC.
v3.24.0.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
The following tables show the carrying amount and accumulated amortization of intangible assets included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2023, and 2022.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 232 97 133 133 — 2 — — 
Other 56 — 5 1 3 — — 22 
Total gross carrying amounts 296 97 143 136 6 2 2 22 
Accumulated amortization – other (14)— (3)— (3)— — (6)
Total intangible assets, net $282 $97 $140 $136 $3 $2 $2 $16 
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 210 84 124 124 — 2 — — 
Other 55 — 4 1 3 — — 22 
Total gross carrying amounts 273 84 133 127 6 2 2 22 
Accumulated amortization – other (8)— (1)— (1)— — (2)
Total intangible assets, net $265 $84 $132 $127 $5 $2 $2 $20 
v3.24.0.1
Investments in Unconsolidated Affiliates (Tables)
 12 Months Ended
Dec. 31, 2023
Investments In Unconsolidated Affiliates [Line Items]  
Investments in Equity Method Unconsolidated Affiliates
The following table presents Duke Energy’s investments in unconsolidated affiliates accounted for under the equity method, as well as the respective equity in earnings, by segment, for periods presented in this filing.
 Years Ended December 31,
 202320222021
Equity in
Equity in
Equity in
(in millions)Investments
earnings
Investments
earnings
earnings
Electric Utilities and Infrastructure$97 $7 $99 $7 $7 
Gas Utilities and Infrastructure259 40 240 21 8 
Other136 66 116 85 47 
Total$492 $113 $455 $113 $62 
v3.24.0.1
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
Related Party Transactions, Other Revenue and Expense Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table.
 Years Ended December 31,
(in millions) 202320222021
Duke Energy Carolinas   
Corporate governance and shared service expenses(a)
$823 $838 $894 
Indemnification coverages(b)
34 28 24 
JDA revenue(c)
34 109 41 
JDA expense(c)
177 600 207 
Intercompany natural gas purchases(d)
11 12 11 
Progress Energy 
Corporate governance and shared service expenses(a)
$736 $818 $856 
Indemnification coverages(b)
47 43 41 
JDA revenue(c)
177 600 207 
JDA expense(c)
34 109 41 
Intercompany natural gas purchases(d)
75 76 75 
Duke Energy Progress 
Corporate governance and shared service expenses(a)
$434 $469 $504 
Indemnification coverages(b)
20 20 19 
JDA revenue(c)
177 600 207 
JDA expense(c)
34 109 41 
Intercompany natural gas purchases(d)
75 76 75 
Duke Energy Florida 
Corporate governance and shared service expenses(a)
$302 $349 $352 
Indemnification coverages(b)
27 23 22 
Duke Energy Ohio 
Corporate governance and shared service expenses(a)
$294 $334 $329 
Indemnification coverages(b)
5 5 4 
Duke Energy Indiana 
Corporate governance and shared service expenses(a)
$365 $447 $409 
Indemnification coverages(b)
8 8 8 
Piedmont
Corporate governance and shared service expenses(a)
$149 $155 $139 
Indemnification coverages(b)
4 3 3 
Intercompany natural gas sales(d)
86 88 86 
Natural gas storage and transportation costs(e)
24 23 22 
(a)The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.
(b)The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.
(c)Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Consolidated Statements of Operations and Comprehensive Income.
(d)Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating Revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Consolidated Statements of Operations and Comprehensive Income. These intercompany revenues and expenses are eliminated in consolidation.
(e)Piedmont has related party transactions as a customer of its equity method investments in Pine Needle, Hardy Storage, and Cardinal natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Consolidated Statements of Operations and Comprehensive Income.
The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants.
DukeDukeDukeDukeDuke
EnergyProgressEnergyEnergyEnergyEnergy
(in millions)CarolinasEnergyProgressFloridaOhioIndianaPiedmont
December 31, 2023
Intercompany income tax receivable$— $— $— $— $91 $53 $— 
Intercompany income tax payable81 92 94 114 — — 57 
December 31, 2022
Intercompany income tax receivable$— $95 $36 $17 $— $— $— 
Intercompany income tax payable37 — — — 17 18 38 
v3.24.0.1
Derivatives and Hedging (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Amounts of Outstanding Derivative Positions
The following tables show notional amounts of outstanding derivatives related to interest rate risk.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$2,300 $— $— $— $— $— $— 
Undesignated contracts2,727 1,050 1,250 925 325 400 27 
Total notional amount$5,027 $1,050 $1,250 $925 $325 $400 $27 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$500 $— $— $— $— $— $— 
Undesignated contracts2,377 1,250 800 500 300 300 27 
Total notional amount$2,877 $1,250 $800 $500 $300 $300 $27 
The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.
December 31, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)13,608 — — — 1,616 11,992 — 
Natural gas (millions of Dth)846 279 274 274 — 30 263 
December 31, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)14,086 — — — 1,820 12,266 — 
Natural gas (millions of Dth)909 307 292 292 — 11 299 
The following table shows Duke Energy's outstanding derivatives related to foreign currency risk. There were no fair value hedges in 2021.
Fair Value Gain (Loss)(a)
Receive
Hedge
(in millions)
Pay NotionalNotionalReceive
Maturity
Years Ended December 31,
(in millions)Pay Rate(in millions)Rate
Date
20232022
Fair value hedges
$645 4.75 %600 euros3.10 %June 2028$17 (3)
537 5.31 %500 euros3.85 %June 203415 (2)
Total notional amount$1,182 1,100 euros$32 (5)
(a)    Amounts are recorded in Other Income and expenses, net on the Consolidated Statement of Operations, which offsets an equal translation adjustment of the foreign denominated debt. See the Consolidated Statements of Comprehensive Income for amounts excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded.
Location and Fair Value of Derivatives Recognized in the Consolidated Balance Sheets
The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.
Derivative AssetsDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$25 $1 $3 $1 $2 $1 $18 $1 
Noncurrent57 26 31 31 — — — — 
Total Derivative Assets – Commodity Contracts$82 $27 $34 $32 $2 $1 $18 $1 
Interest Rate Contracts
Designated as Hedging Instruments
Current$31 $— $— $— $— $— $— $— 
Noncurrent17 — — — — — — — 
Not Designated as Hedging Instruments
Current$5 $5 $— $— $— $— $— $— 
Noncurrent10 3 — — — — 7 — 
Total Derivative Assets – Interest Rate Contracts$63 $8 $— $— $— $— $7 $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Noncurrent44 — — — — — — — 
Total Derivative Assets – Foreign Currency Contracts
$44 $— $— $— $— $— $— $— 
Total Derivative Assets$189 $35 $34 $32 $2 $1 $25 $1 
Derivative LiabilitiesDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$354 $177 $138 $138 $— $— $18 $20 
Noncurrent255 67 61 61 — — — 127 
Total Derivative Liabilities – Commodity Contracts$609 $244 $199 $199 $— $— $18 $147 
Interest Rate Contracts
Designated as Hedging Instruments
Current$25 $— $— $— $— $— $— $— 
Noncurrent26 — — — — — — — 
Not Designated as Hedging Instruments
Current13 2 11 11 — — — — 
Noncurrent39 14 24 9 15 1 — — 
Total Derivative Liabilities – Interest Rate Contracts$103 $16 $35 $20 $15 $1 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$17 $— $— $— $— $— $— $— 
Total Derivative Liabilities – Foreign Currency Contracts$17 $— $— $— $— $— $— $— 
Total Derivative Liabilities$729 $260 $234 $219 $15 $1 $18 $147 
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$265 $132 $99 $99 $— $5 $29 $— 
Noncurrent213 104 108 108 — — — — 
Total Derivative Assets – Commodity Contracts$478 $236 $207 $207 $— $5 $29 $— 
Interest Rate Contracts
Designated as Hedging Instruments
Current$101 $— $— $— $— $— $— $— 
Not Designated as Hedging Instruments
Current$216 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets – Interest Rate Contracts$317 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets$795 $330 $248 $230 $17 $5 $110 $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Not Designated as Hedging Instruments
Current$175 $96 $36 $18 $19 $— $16 $27 
Noncurrent202 31 30 30 — — — 141 
Total Derivative Liabilities – Commodity Contracts$377 $127 $66 $48 $19 $— $16 $168 
Interest Rate Contracts
Not Designated as Hedging Instruments
Noncurrent2 — — — — 2 — — 
Total Derivative Liabilities – Interest Rate Contracts$2 $— $— $— $— $2 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$18 $— $— $— $— $— $— $— 
Noncurrent40 — — — — — — — 
Total Derivative Liabilities – Foreign Currency Contracts$58 $— $— $— $— $— $— $— 
Total Derivative Liabilities$437 $127 $66 $48 $19 $2 $16 $168 
Offsetting Assets
The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The 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 AssetsDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$61 $6 $3 $1 $2 $1 $18 $1 
Offset(2)(1)(1)(1)— — — — 
Net amounts presented in Current Assets: Other$59 $5 $2 $— $2 $1 $18 $1 
Noncurrent
Gross amounts recognized$128 $29 $31 $31 $— $— $7 $— 
Offset(37)(14)(22)(22)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$91 $15 $9 $9 $— $— $7 $— 
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$582 $226 $140 $122 $17 $5 $110 $— 
Offset(33)(15)(18)(18)— — — — 
Cash collateral received(31)(18)(12)(12)— — — — 
Net amounts presented in Current Assets: Other$518 $193 $110 $92 $17 $5 $110 $— 
Noncurrent
Gross amounts recognized$213 $104 $108 $108 $— $— $— $— 
Offset(59)(29)(30)(30)— — — — 
Cash collateral received(38)(11)(27)(27)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$116 $64 $51 $51 $— $— $— $— 
Offsetting Liabilities
Derivative LiabilitiesDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$409 $179 $149 $149 $— $— $18 $20 
Offset(2)(1)(1)(1)— — — — 
Cash collateral posted(96)(48)(30)(30)— — (18)— 
Net amounts presented in Current Liabilities: Other$311 $130 $118 $118 $— $— $— $20 
Noncurrent
Gross amounts recognized$320 $81 $85 $70 $15 $1 $— $127 
Offset(37)(14)(22)(22)— — — — 
Cash collateral posted(66)(38)(28)(28)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$217 $29 $35 $20 $15 $1 $— $127 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$193 $96 $36 $18 $19 $— $16 $27 
Offset(33)(15)(18)(18)— — — — 
Cash collateral posted(16)— — — — — (16)— 
Net amounts presented in Current Liabilities: Other$144 $81 $18 $— $19 $— $— $27 
Noncurrent
Gross amounts recognized$244 $31 $30 $30 $— $2 $— $141 
Offset(59)(29)(30)(30)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$185 $2 $— $— $— $2 $— $141 
Derivative Contracts with Contingent Credit Features The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit risk-related payment provisions.
December 31, 2023
DukeDuke
DukeEnergyProgressEnergy
(in millions)EnergyCarolinasEnergyProgress
Aggregate fair value of derivatives in a net liability position$342 $175 $166 $166 
Fair value of collateral already posted144 86 58 58 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered198 89 108 108 
December 31, 2022
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFlorida
Aggregate fair value of derivatives in a net liability position$141 $86 $55 $48 $7 
Fair value of collateral already posted— — — — — 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered141 86 55 48 7 
v3.24.0.1
Investments in Debt and Equity Securities (Tables)
 12 Months Ended
Dec. 31, 2023
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $133 $— $— $215 
Equity securities 4,942 22 7,278 3,658 105 5,871 
Corporate debt securities 12 43 632 1 85 641 
Municipal bonds 6 16 347 — 39 330 
U.S. government bonds 24 65 1,575 2 112 1,423 
Other debt securities 1 13 178 — 18 156 
Total NDTF Investments$4,985 $159 $10,143 $3,661 $359 $8,636 
Other Investments       
Cash and cash equivalents $— $— $31 $— $— $22 
Equity securities 33 — 158 21 16 128 
Corporate debt securities — 6 82 — 12 84 
Municipal bonds 1 2 77 — 3 78 
U.S. government bonds — 2 65 — 2 62 
Other debt securities — 2 47 — 3 41 
Total Other Investments$34 $12 $460 $21 $36 $415 
Total Investments $5,019 $171 $10,603 $3,682 $395 $9,051 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were as follows.
Years Ended December 31,
(in millions)202320222021
FV-NI:
Realized gains$129 $201 $724 
Realized losses146 316 141 
AFS:
Realized gains44 28 56 
Realized losses140 151 54 
Investments Classified by Contractual Maturity Date
The table below summarizes the maturity date for debt securities.
December 31, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
Due in one year or less$116 $9 $89 $13 $76 $7 
Due after one through five years696 226 391 254 137 20 
Due after five through 10 years598 333 217 204 13 11 
Due after 10 years1,593 870 620 579 41 26 
Total$3,003 $1,438 $1,317 $1,050 $267 $64 
Duke Energy Carolinas  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2023 December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $51 $— $— $117 
Equity securities 2,886 14 4,196 2,147 51 3,367 
Corporate debt securities 4 35 390 1 62 401 
Municipal bonds — 4 50 — 10 64 
U.S. government bonds 13 33 826 1 51 685 
Other debt securities 1 13 172 — 18 148 
Total NDTF Investments$2,904 $99 $5,685 $2,149 $192 $4,782 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were as follows.
Years Ended December 31,
(in millions)202320222021
FV-NI:
Realized gains$82 $124 $440 
Realized losses79 177 96 
AFS:
Realized gains22 22 38 
Realized losses65 86 37 
Progress Energy  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $82 $— $— $98 
Equity securities 2,056 8 3,082 1,511 54 2,504 
Corporate debt securities 8 8 242 — 23 240 
Municipal bonds 6 12 297 — 29 266 
U.S. government bonds 11 32 749 1 61 738 
Other debt securities — — 6 — — 8 
Total NDTF Investments$2,081 $60 $4,458 $1,512 $167 $3,854 
Other Investments       
Cash and cash equivalents $— $— $18 $— $— $11 
Municipal bonds — 1 23 — — 25 
Total Other Investments$— $1 $41 $— $— $36 
Total Investments $2,081 $61 $4,499 $1,512 $167 $3,890 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were as follows.
Years Ended December 31,
(in millions)202320222021
FV-NI:
Realized gains$47 $77 $284 
Realized losses67 139 45 
AFS:
Realized gains22 6 16 
Realized losses75 48 14 
Duke Energy Progress  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $55 $— $— $56 
Equity securities 1,956 8 2,970 1,431 54 2,411 
Corporate debt securities 7 8 229 — 22 230 
Municipal bonds 6 12 297 — 29 266 
U.S. government bonds 10 18 518 1 37 460 
Other debt securities — — 6 — — 7 
Total NDTF Investments$1,979 $46 $4,075 $1,432 $142 $3,430 
Other Investments       
Cash and cash equivalents $— $— $14 $— $— $9 
Total Other Investments$— $— $14 $— $— $9 
Total Investments $1,979 $46 $4,089 $1,432 $142 $3,439 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2023, 2022 and 2021, were as follows.
Years Ended December 31,
(in millions)202320222021
FV-NI:
Realized gains$44 $76 $283 
Realized losses66 136 44 
AFS:
Realized gains20 6 15 
Realized losses70 44 13 
Duke Energy Florida  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF        
Cash and cash equivalents $— $— $27 $— $— $42 
Equity securities 100 — 112 80 — 93 
Corporate debt securities 1 — 13 — 1 10 
U.S. government bonds 1 14 231 — 24 278 
Other debt securities — — — — — 1 
Total NDTF Investments(a)
$102 $14 $383 $80 $25 $424 
Other Investments    
Cash and cash equivalents $— $— $3 $— $— $1 
Municipal bonds — 1 23 — 25 
Total Other Investments$— $1 $26 $— $— $26 
Total Investments $102 $15 $409 $80 $25 $450 
(a)    During the years ended December 31, 2023, and 2022, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.
Duke Energy Indiana  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
 December 31, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
Investments       
Cash and cash equivalents$— $— $1 $— $— $1 
Equity securities 4 — 98 2 16 79 
Corporate debt securities — — 8 — 1 8 
Municipal bonds 1 1 46 — 3 45 
U.S. government bonds — — 10 — — 7 
Total Investments $5 $1 $163 $2 $20 $140 
v3.24.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 15. See Note 16 for additional information related to investments by major security type for the Duke Energy Registrants.
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$133 $133 $— $— $— 
NDTF equity securities7,278 7,241 — — 37 
NDTF debt securities2,732 829 1,903 — — 
Other equity securities158 158 — — — 
Other debt securities271 55 216 — — 
Other cash and cash equivalents31 31 — — — 
Derivative assets189 37 137 15 — 
Total assets10,792 8,484 2,256 15 37 
Derivative liabilities(729)(60)(669)— — 
Net assets
$10,063 $8,424 $1,587 $15 $37 
 December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$215 $215 $— $— $— 
NDTF equity securities5,871 5,829 — — 42 
NDTF debt securities2,550 780 1,770 — — 
Other equity securities128 128 — — — 
Other debt securities265 55 210 — — 
Other cash and cash equivalents22 22 — — — 
Derivative assets795 1 760 34 — 
Total assets9,846 7,030 2,740 34 42 
Derivative liabilities(437)(16)(421)— — 
Net assets
$9,409 $7,014 $2,319 $34 $42 
Reconciliation of Assets and Liabilities Measured at Fair Value an a Recurring Basis Using Unobservable Inputs
The following table provides reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
 Years Ended December 31,
(in millions) 20232022
Balance at beginning of period$34 $24 
Purchases, sales, issuances and settlements:
Purchases47 78 
Settlements(72)(36)
Total gains (losses) included on the Consolidated Balance Sheet6 (32)
Balance at end of period$15 $34 
Quantitative Information Table - Level 3
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
December 31, 2023
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$2 RTO auction pricingFTR price – per MWh$0.36 –$2.11 $0.71 
Duke Energy Indiana
FTRs13 RTO auction pricingFTR price – per MWh(1.05)–9.64 1.26 
Duke Energy
Total Level 3 derivatives$15 
December 31, 2022
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$5 RTO auction pricingFTR price – per MWh$0.89 –$6.25 $3.35 
Duke Energy Indiana
FTRs29 RTO auction pricingFTR price – per MWh0.09 –21.79 2.74 
Duke Energy
Total Level 3 derivatives$34 
Schedule of Long-Term Debt Fair Value
The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements.
 December 31, 2023December 31, 2022
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$75,252 $69,790 $69,751 $61,986 
Duke Energy Carolinas16,012 15,077 14,266 12,943 
Progress Energy23,759 22,553 22,439 20,467 
Duke Energy Progress11,714 10,595 11,087 9,689 
Duke Energy Florida10,401 10,123 9,709 8,991 
Duke Energy Ohio3,518 3,310 3,245 2,927 
Duke Energy Indiana4,502 4,230 4,307 3,913 
Piedmont3,668 3,336 3,363 2,940 
(a)    Book value of long-term debt includes $1.0 billion as of December 31, 2023, and $1.2 billion as of December 31, 2022, of unamortized debt discount and premium, net in purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.
Duke Energy Carolinas  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$51 $51 $— $— 
NDTF equity securities4,196 4,159 — 37 
NDTF debt securities1,438 375 1,063 — 
Derivative assets35 — 35 — 
Total assets5,720 4,585 1,098 37 
Derivative liabilities(260)— (260)— 
Net assets$5,460 $4,585 $838 $37 
 December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$117 $117 $— $— 
NDTF equity securities3,367 3,325 — 42 
NDTF debt securities1,298 323 975 — 
Derivative assets330 — 330 — 
Total assets5,112 3,765 1,305 42 
Derivative liabilities(127)— (127)— 
Net assets$4,985 $3,765 $1,178 $42 
Progress Energy  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$82 $82 $— $98 $98 $— 
NDTF equity securities3,082 3,082 — 2,504 2,504 — 
NDTF debt securities1,294 454 840 1,252 457 795 
Other debt securities23 — 23 25 — 25 
Other cash and cash equivalents18 18 — 11 11 — 
Derivative assets34 — 34 248 — 248 
Total assets4,533 3,636 897 4,138 3,070 1,068 
Derivative liabilities(234)— (234)(66)— (66)
Net assets$4,299 $3,636 $663 $4,072 $3,070 $1,002 
Duke Energy Progress  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$55 $55 $— $56 $56 $— 
NDTF equity securities2,970 2,970 — 2,411 2,411 — 
NDTF debt securities1,050 266 784 963 225 738 
Other cash and cash equivalents14 14 — 9 9 — 
Derivative assets32 — 32 230 — 230 
Total assets4,121 3,305 816 3,669 2,701 968 
Derivative liabilities(219)— (219)(48)— (48)
Net assets$3,902 $3,305 $597 $3,621 $2,701 $920 
Duke Energy Florida  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$27 $27 $— $42 $42 $— 
NDTF equity securities112 112 — 93 93 — 
NDTF debt securities244 188 56 289 232 57 
Other debt securities23 — 23 25 — 25 
Other cash and cash equivalents3 3 — 1 1 — 
Derivative assets2 — 2 17 — 17 
Total assets411 330 81 467 368 99 
Derivative liabilities(15)— (15)(19)— (19)
Net assets$396 $330 $66 $448 $368 $80 
Duke Energy Indiana  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$98 $98 $— $— $79 $79 $— $— 
Other debt securities64 — 64 — 60 — 60 — 
Other cash equivalents1 1 — — 1 1 — — 
Derivative assets25 5 7 13 110 — 81 29 
Total assets188 104 71 13 250 80 141 29 
Derivative liabilities(18)(18)— — (16)(16)— — 
Net assets$170 $86 $71 $13 $234 $64 $141 $29 
Reconciliation of Assets and Liabilities Measured at Fair Value an a Recurring Basis Using Unobservable Inputs
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
 Derivatives (net)
 Years Ended December 31,
(in millions)20232022
Balance at beginning of period$29 $22 
Purchases, sales, issuances and settlements:
Purchases42 74 
Settlements(68)(32)
Total gains (losses) included on the Consolidated Balance Sheet
10 (35)
Balance at end of period$13 $29 
Piedmont  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$1 $1 $— $— $— $— 
Derivative liabilities(147)— (147)(168)— (168)
Net (liabilities) assets$(146)$1 $(147)$(168)$— $(168)
v3.24.0.1
Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2023
Consolidated VIEs  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.
Duke Energy
Duke EnergyDuke EnergyDuke Energy
CarolinasProgressFlorida
(in millions)CRCDERFDEPRDEFR
Expiration dateFebruary 2025January 2025April 2025April 2024
Credit facility amount$350 $500 $400 $325 
Amounts borrowed at December 31, 2023312 500 400 325 
Amounts borrowed at December 31, 2022350 471 400 250 
Restricted Receivables at December 31, 2023663 991 833 532 
Restricted Receivables at December 31, 2022917 928 793 490 
Consolidated VIEs | DEFPF  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following table summarizes the impact of DEFPF on Duke Energy Florida's Consolidated Balance Sheets.
December 31,
(in millions)20232022
Receivables of VIEs$— $6 
Regulatory Assets: Current59 55 
Current Assets: Other37 41 
Other Noncurrent Assets: Regulatory assets803 826 
Current Liabilities: Other8 9 
Current maturities of long-term debt59 56 
Long-Term Debt831 890 
Consolidated VIEs | DECNCSF and DEPNCSF  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following table summarizes the impact of these VIEs on Duke Energy Carolinas’ and Duke Energy Progress’ Consolidated Balance Sheets.
Duke Energy CarolinasDuke Energy Progress
December 31, December 31,
(in millions)
2023
2022
2023
2022
Regulatory Assets: Current$12 $12 $39 $39 
Current Assets: Other9 8 31 29 
Other Noncurrent Assets: Regulatory assets196 208 643 681 
Other Noncurrent Assets: Other1 1 2 2 
Current maturities of long-term debt10 10 34 34 
Current Liabilities: Other3 3 8 8 
Long-Term Debt208 219 680 714 
Non-consolidated VIEs  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following tables summarize the impact of non-consolidated VIEs on the Consolidated Balance Sheets.
 December 31, 2023
 Duke Energy DukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $150 $208 
Investments in equity method unconsolidated affiliates67 — — 
Other noncurrent assets43 — — 
Total assets$110 $150 $208 
Other current liabilities4 — — 
Other noncurrent liabilities5 — — 
Total liabilities9 $— $— 
Net assets
$101 $150 $208 
 December 31, 2022
 Duke EnergyDukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $198 $317 
Investments in equity method unconsolidated affiliates43 — — 
Other noncurrent assets45 — — 
Total assets$88 $198 $317 
Other current liabilities59 — — 
Other noncurrent liabilities47 — — 
Total liabilities$106 $— $— 
Net (liabilities) assets$(18)$198 $317 
Non-consolidated VIEs | CRC  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
Key assumptions used in estimating fair value are detailed in the following table.
 Duke Energy OhioDuke Energy Indiana
 2023202220232022
Anticipated credit loss ratio0.6 %0.5 %0.4 %0.3 %
Discount rate6.1 %2.7 %6.1 %2.7 %
Receivable turnover rate13.9 %13.5 %12.0 %11.3 %
The following table shows the gross and net receivables sold.
 Duke Energy OhioDuke Energy Indiana
December 31,December 31,
(in millions)2023202220232022
Receivables sold$361 $423 $351 $508 
Less: Retained interests150 198 208 317 
Net receivables sold$211 $225 $143 $191 
The following table shows sales and cash flows related to receivables sold.
 Duke Energy OhioDuke Energy Indiana
 Years Ended December 31,Years Ended December 31,
(in millions)202320222021202320222021
Sales      
Receivables sold$2,578 $2,562 $2,023 $3,223 $3,744 $2,909 
Loss recognized on sale34 18 10 39 26 13 
Cash flows  
Cash proceeds from receivables sold2,591 2,424 2,018 3,294 3,498 2,909 
Collection fees received1 1 1 2 2 1 
Return received on retained interests19 10 4 25 15 6 
v3.24.0.1
Revenue (Tables)
 12 Months Ended
Dec. 31, 2023
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)20242025202620272028ThereafterTotal
Progress Energy$72 $30 $7 $7 $7 $29 $152 
Duke Energy Progress8 — — — — — 8 
Duke Energy Florida64 30 7 7 7 29 144 
Duke Energy Indiana16 17 17 15 5 — 70 
Estimated remaining performance obligations are as follows:
Remaining Performance Obligations
(in millions)20242025202620272028ThereafterTotal
Piedmont$66 $61 $51 $49 $46 $195 $468 
Disaggregation of Revenue Disaggregated revenues are presented as follows:
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$12,098 $3,409 $6,510 $2,540 $3,970 $947 $1,233 $— 
General7,895 2,670 3,762 1,588 2,174 552 911 — 
Industrial3,416 1,334 1,105 733 372 191 786 — 
Wholesale2,175 492 1,388 1,240 148 46 248 — 
Other revenues962 318 590 325 265 93 157 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$26,546 $8,223 $13,355 $6,426 $6,929 $1,829 $3,335 $— 
Gas Utilities and Infrastructure
Residential$1,226 $— $— $— $— $435 $— $792 
Commercial605 — — — — 154 — 450 
Industrial141 — — — — 26 — 115 
Power Generation— — — — — — — 31 
Other revenues119 — — — — 24 — 95 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,091 $— $— $— $— $639 $— $1,483 
Other
Revenue from contracts with customers$37 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$28,674 $8,223 $13,355 $6,426 $6,929 $2,468 $3,335 $1,483 
Other revenue sources(a)
$386 $65 $189 $62 $107 $39 $64 $145 
Total revenues$29,060 $8,288 $13,544 $6,488 $7,036 $2,507 $3,399 $1,628 
(a)    Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$11,377 $3,275 $5,812 $2,378 $3,434 $862 $1,430 $— 
General7,356 2,396 3,396 1,480 1,916 517 1,049 — 
Industrial3,504 1,251 1,095 770 325 202 956 — 
Wholesale2,856 561 1,785 1,346 439 127 383 — 
Other revenues795 372 994 768 226 61 19 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$25,888 $7,855 $13,082 $6,742 $6,340 $1,769 $3,837 $— 
Gas Utilities and Infrastructure
Residential$1,462 $— $— $— $— $488 $— $974 
Commercial765 — — — — 180 — 585 
Industrial170 — — — — 24 — 144 
Power Generation— — — — — — — 94 
Other revenues360 — — — — 25 — 271 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,757 $— $— $— $— $717 $— $2,068 
Other
Revenue from contracts with customers$30 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$28,675 $7,855 $13,082 $6,742 $6,340 $2,486 $3,837 $2,068 
Other revenue sources(a)
$93 $2 $43 $11 $13 $28 $85 $56 
Total revenues$28,768 $7,857 $13,125 $6,753 $6,353 $2,514 $3,922 $2,124 
(a)    Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$10,097 $3,054 $5,084 $2,156 $2,928 $767 $1,188 $— 
General6,375 2,210 2,883 1,378 1,505 440 825 — 
Industrial2,924 1,145 894 634 260 135 750 — 
Wholesale2,199 472 1,385 1,164 221 56 285 — 
Other revenues879 264 716 387 329 83 86 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$22,474 $7,145 $10,962 $5,719 $5,243 $1,481 $3,134 $— 
Gas Utilities and Infrastructure
Residential$1,131 $— $— $— $— $354 $— $777 
Commercial561 — — — — 143 — 418 
Industrial158 — — — — 20 — 137 
Power Generation— — — — — — — 92 
Other revenues133 — — — — 28 — 45 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,983 $— $— $— $— $545 $— $1,469 
Other
Revenue from contracts with customers$29 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$24,486 $7,145 $10,962 $5,719 $5,243 $2,026 $3,134 $1,469 
Other revenue sources(a)
$135 $(43)$95 $61 $16 $11 $40 $100 
Total revenues$24,621 $7,102 $11,057 $5,780 $5,259 $2,037 $3,174 $1,569 
(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.
Accounts Receivable, Allowance for Credit Loss
The following table presents the reserve for credit losses for trade and other receivables.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2020$146 $23 $37 $23 $14 $4 $3 $12 
Write-Offs(58)(21)(25)(12)(13)— — (9)
Credit Loss Expense53 27 25 11 14 — — 7 
Other Adjustments(20)13 (1)(1)1 — — 5 
Balance at December 31, 2021$121 $42 $36 $21 $16 $4 $3 $15 
Write-Offs(158)(73)(70)(36)(34)— — (12)
Credit Loss Expense160 40 72 17 55 2 1 11 
Other Adjustments93 59 43 42 (1)— — — 
Balance at December 31, 2022$216 $68 $81 $44 $36 $6 $4 $14 
Write-Offs(164)(71)(84)(41)(42)— — (10)
Credit Loss Expense101 35 48 12 37 3 1 7 
Other Adjustments52 24 29 29 — — — — 
Balance at December 31, 2023$205 $56 $74 $44 $31 $9 $5 $11 
Financing Receivable, Past Due
The aging of trade receivables is presented in the table below.
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Receivables(a)(b)
$1,273 $399 $401 $280 $121 $4 $22 $108 
Current2,306 680 1,009 612 395 48 87 199 
1-30 days past due275 97 91 41 50 12 14 9 
31-60 days past due78 20 34 23 11 3 7 2 
61-90 days past due47 15 17 10 7 2 4 1 
91+ days past due253 67 69 24 45 46 27 3 
Deferred Payment Arrangements(c)
104 34 43 26 17 6 — — 
Trade and Other Receivables$4,336 $1,312 $1,664 $1,016 $646 $121 $161 $322 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Receivables(a)(b)
$1,457 $486 $355 $232 $123 $20 $28 $160 
Current2,347 577 1,059 637 417 15 52 265 
1-30 days past due261 96 60 15 45 5 17 15 
31-60 days past due123 23 61 49 12 6 2 3 
61-90 days past due74 25 18 9 9 3 11 2 
91+ days past due209 70 74 27 47 26 6 4 
Deferred Payment Arrangements(c)
160 57 62 35 27 4 — 1 
Trade and Other Receivables$4,631 $1,334 $1,689 $1,004 $680 $79 $116 $450 
(a)    Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy or natural gas delivered but not yet billed and are included within Receivables and Receivables of VIEs on the Consolidated Balance Sheets.
(b)    Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, CRC, and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 18 for further information. These receivables for unbilled revenues are $141 million and $197 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2023, and $148 million and $260 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2022.
(c)    Due to ongoing financial hardships impacting customers, Duke Energy has permitted customers to defer payment of past-due amounts through installment payment plans.
v3.24.0.1
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Schedule of Earnings Per Share
The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared.
Years Ended December 31,
(in millions, except per share amounts)202320222021
Net Income available to Duke Energy common stockholders$2,735 $2,444 $3,802 
Less: (Loss) Income from discontinued operations attributable to Duke Energy common stockholders(1,391)(1,215)200 
Accumulated preferred stock dividends adjustment— — — 
Less: Impact of participating securities6 2 3 
Income from continuing operations available to Duke Energy common stockholders$4,120 $3,657 $3,599 
Loss from discontinued operations, net of tax$(1,455)$(1,323)$(144)
Add: Loss attributable to NCI64 108 344 
(Loss) Income from discontinued operations attributable to Duke Energy common stockholders$(1,391)$(1,215)$200 
Weighted average common shares outstanding – basic and diluted
771 770 769 
EPS from continuing operations available to Duke Energy common stockholders
Basic and Diluted(a)
$5.35 $4.74 $4.68 
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders
   Basic and Diluted(a)
$(1.81)$(1.57)$0.26 
Potentially dilutive items excluded from the calculation(b)
2 2 2 
Dividends declared per common share$4.06 $3.98 $3.90 
Dividends declared on Series A preferred stock per depositary share(c)
$1.437 $1.437 $1.437 
Dividends declared on Series B preferred stock per share(d)
$48.750 $48.750 $48.750 
(a)    For the periods presented subsequent to issuance in April 2023, the convertible notes were excluded from the calculations of diluted
EPS because the effect was antidilutive.
(b)    Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met.
(c)    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.
(d)    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. On September 16, 2024, the First Call Date, and any fifth anniversary of the First Call Date, the dividend rate will reset based on the then current five-year U.S. Treasury rate plus a spread of 3.388%.
v3.24.0.1
Severance (Tables)
 12 Months Ended
Dec. 31, 2023
Restructuring and Related Activities [Abstract]  
Schedule of Severance Expense
The following table presents the direct and allocated severance and related charges accrued for 682 employees in 2023, 233 employees in 2022 and 290 employees in 2021 by the Duke Energy Registrants within Operation, maintenance and other on the Consolidated Statements of Operations.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Year Ended December 31, 2023(a)(b)(c)
$102 $53 $33 $21 $12 $3 $6 $4 
Year Ended December 31, 2022(d)(e)
65 40 20 17 3 1 2 2 
Year Ended December 31, 2021(f)(g)
69 33 26 20 6 2 3 2 
(a)    Includes amortization of deferred severance charges of approximately $22 million, $14 million, $8 million and $8 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(b)    Includes adjustments associated with 2021 severance charges of approximately $(6) million, $(2) million, $(3) million, $(2) million, $(1) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively.
(c)    Includes adjustments associated with 2022 severance charges of approximately $(14) million, $(7) million, $(5) million, $(3) million, $(2) million, $(1) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana, respectively.
(d)    Includes amortization of deferred severance charges of approximately $33 million, $22 million, $11 million and $11 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(e)    Includes adjustments associated with 2021 severance charges of approximately $(19) million, $(6) million, $(8) million, $(4) million, $(4) million, $(1) million, $(2) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont, respectively.
(f)    Includes amortization of deferred severance charges of approximately $33 million, $22 million, $11 million and $11 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(g)    Includes adjustments associated with 2018 severance charges of approximately $(3) million, $(2) million and $(1) million for Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
Schedule of Severance Liability
The table below presents the severance liability for past and ongoing severance plans including the plans described above.
DukeDukeDuke
Duke
Duke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)Energy
Carolinas
EnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2021$39 $2 $2 $1 $1 $— $— $— 
Provision/Adjustments33 14 4 3 1 — — 1 
Cash Reductions(8)(1)— — — — — — 
Balance at December 31, 2022$64 $15 $6 $4 $2 $— $— $1 
Provision/Adjustments80 30 13 6 7 1 4 2 
Cash Reductions(42)(10)(3)(2)(1)— — (1)
Balance at December 31, 2023$102 $35 $16 $8 $8 $1 $4 $2 
v3.24.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Total Stock-Based Compensation Expense, net of tax
The following table summarizes the total expense recognized by the Duke Energy Registrants, net of tax, for stock-based compensation.
 Years Ended December 31,
(in millions)202320222021
Duke Energy$71 $74 $64 
Duke Energy Carolinas25 27 23 
Progress Energy28 27 24 
Duke Energy Progress17 17 15 
Duke Energy Florida11 10 9 
Duke Energy Ohio5 5 5 
Duke Energy Indiana7 7 6 
Piedmont4 4 3 
Schedule of Stock-Based Compensation Expense
Duke Energy's pretax stock-based compensation costs, the tax benefit associated with stock-based compensation expense and stock-based compensation costs capitalized are included in the following table.
 Years Ended December 31,
(in millions)202320222021
RSU awards$54 $58 $49 
Performance awards43 42 39 
Pretax stock-based compensation cost$97 $100 $88 
Stock-based compensation costs capitalized6 5 5 
Stock-based compensation expense$91 $95 $83 
Tax benefit associated with stock-based compensation expense$20 $21 $19 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity The following table includes information related to RSU awards.
 Years Ended December 31,
 202320222021
Shares granted (in thousands) 670 654 673 
Fair value (in millions)$65 $64 $59 
The following table summarizes information about RSU awards outstanding.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 2022
1,097 $95 
Granted670 97 
Vested(548)95 
Forfeited(104)96 
Outstanding at December 31, 2023
1,115 96 
RSU awards expected to vest1,064 96 
Schedule of Performance Awards
The following table includes information related to stock-based performance awards.
 Years Ended December 31,
 202320222021
Shares granted assuming target performance (in thousands)422 408 380 
Fair value (in millions)$42 $40 $33 
Schedule of Nonvested Performance-based Units Activity
The following table summarizes information about stock-based performance awards outstanding and assumes payout at the target level.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 2022
1,033 $97 
Granted422 100 
Vested(298)105 
Forfeited(42)98 
Outstanding at December 31, 2023
1,115 96 
Stock-based performance awards expected to vest1,086 96 
v3.24.0.1
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]  
Pension Plan Contributions The following table includes information related to the Duke Energy Registrants’ contributions to its qualified defined benefit pension plans. There were no contributions made in the year ended December 31, 2021.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Contributions Made:
2023$100 $26 $22 $13 $9 $5 $8 $3 
202258 15 13 8 5 3 5 2 
Fair Value and Allocation of Plan Assets
The following table includes the target asset allocations by asset class at December 31, 2023, and the actual asset allocations for the RCBP assets.
Actual Allocation at
TargetDecember 31,
Allocation20232022
Global equity securities45 %45 %49 %
Global private equity securities2 %2 %2 %
Debt securities35 %35 %30 %
Return seeking debt securities7 %6 %7 %
Hedge funds4 %4 %6 %
Real estate and cash7 %8 %6 %
Total100 %100 %100 %
The following table includes the target asset allocations by asset class at December 31, 2023, and the actual asset allocations for the DELPP assets.
Actual Allocation at
TargetDecember 31,
Allocation20232022
Global equity securities14 %14 %14 %
Global private equity securities1 %— %— %
Debt securities80 %79 %80 %
Return seeking debt securities2 %2 %2 %
Hedge funds1 %2 %2 %
Real estate and cash2 %3 %2 %
Total100 %100 %100 %
The following table presents target and actual asset allocations for the VEBA trusts at December 31, 2023.
Actual Allocation at
TargetDecember 31,
Allocation20232022
U.S. equity securities29 %30 %12 %
Non-U.S. equity securities15 %15 %5 %
Real estate5 %7 %3 %
Debt securities47 %30 %11 %
Cash4 %18 %69 %
Total100 %100 %100 %
The following tables provide the fair value measurement amounts for the Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets.
December 31, 2023
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,221 $1,995 $211 $— $15 
Corporate debt securities2,807 — 2,807 — — 
Short-term investment funds233 — 233 — — 
Partnership interests76 — — 76 — 
Hedge funds164 — — — 164 
U.S. government securities1,571 — 1,571 — — 
Governments bonds – foreign107 — 107 — — 
Cash7 7 — — — 
Government and commercial mortgage-backed securities
1 — 1 — — 
Net pending transactions and other investments54 40 14 — — 
Total assets(a)
$7,241 $2,042 $4,944 $76 $179 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2023. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
December 31, 2022
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,234 $2,014 $194 $— $26 
Corporate debt securities2,944 — 2,944 — — 
Short-term investment funds193 1 192 — — 
Partnership interests62 — — 62 — 
Hedge funds209 — — — 209 
U.S. government securities1,254 — 1,254 — — 
Governments bonds – foreign112 — 112 — — 
Cash45 45 — — — 
Government and commercial mortgage-backed securities
6 — 6 — — 
Net pending transactions and other investments14 5 9 — — 
Total assets(a)
$7,073 $2,065 $4,711 $62 $235 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2022. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
The following tables provide the fair value measurement amounts for VEBA trust assets.
December 31, 2023
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$4 $4 
Real estate1 1 
Equity securities9 9 
Debt securities6 6 
Total assets$20 $20 
December 31, 2022
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$11 $11 
Real estate2 2 
Equity securities12 12 
Debt securities8 8 
Total assets$33 $33 
Master Trust Level 3 Rollforward
The following table provides a reconciliation of beginning and ending balances of Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3).
(in millions)20232022
Balance at January 1$62 $95 
Sales(8)(18)
Total gains and other, net22 (8)
Transfer of Level 3 assets from other classifications— (7)
Balance at December 31$76 $62 
Employee Savings Plan Matching Contributions
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ended December 31,
2023$238 $75 $62 $40 $22 $6 $13 $13 
2022246 76 65 43 22 6 12 13 
2021229 70 60 39 21 5 12 11 
Pension Plan  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Pension Costs
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$117 $38 $33 $19 $13 $3 $6 $4 
Interest cost on projected benefit obligation344 84 107 49 57 18 27 9 
Expected return on plan assets(588)(160)(198)(93)(104)(24)(40)(20)
Amortization of actuarial loss10 2 4 2 2 — 2 — 
Amortization of prior service credit(14)(1)— — — — (2)(7)
Amortization of settlement charges
19 9 5 3 1 — 1 4 
Net periodic pension costs(a)(b)
$(112)$(28)$(49)$(20)$(31)$(3)$(6)$(10)
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$152 $48 $43 $25 $17 $4 $9 $5 
Interest cost on projected benefit obligation249 59 77 35 41 13 20 8 
Expected return on plan assets(558)(152)(183)(88)(94)(23)(37)(24)
Amortization of actuarial loss81 16 23 12 12 4 9 5 
Amortization of prior service credit(18)(3)— — — — (2)(7)
Amortization of settlement charges(c)
32 9 8 7 1 5 1 7 
MRVA method change24 — 24 — 24 — — — 
Net periodic pension costs(a)(b)
$(38)$(23)$(8)$(9)$1 $3 $— $(6)
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$176 $56 $50 $29 $21 $5 $10 $6 
Interest cost on projected benefit obligation220 51 70 30 39 13 18 7 
Expected return on plan assets(558)(141)(187)(84)(102)(28)(40)(20)
Amortization of actuarial loss133 29 38 18 20 7 13 10 
Amortization of prior service credit(29)(8)(2)(1)(1)(1)(2)(9)
Amortization of settlement charges
9 5 2 2 1 — — 1 
Net periodic pension costs(a)(b)
$(49)$(8)$(29)$(6)$(22)$(4)$(1)$(5)
(a)    Duke Energy amounts exclude $3 million, $3 million and $3 million for the years ended December 2023, 2022 and 2021, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2023, 2022 and 2021, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(c)    Includes settlement charges not deferred as a regulatory asset.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)$5 $(14)$8 $— $9 $(3)$(2)$13 
Accumulated other comprehensive loss (income)
Deferred income tax expense$— $— $— $— $— $— $— $— 
Amortization of prior year actuarial losses(2)— — — — — — — 
Net amount recognized in accumulated other comprehensive income$(2)$— $— $— $— $— $— $— 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)
$367 $221 $107 $101 $5 $(1)$(12)$9 
Accumulated other comprehensive loss (income)
Deferred income tax expense$(7)$— $(1)$— $— $— $— $— 
Amortization of prior year actuarial losses37 — 2 — — — — — 
Net amount recognized in accumulated other comprehensive income$30 $— $1 $— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Net Amount Recognized
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $6,358 $1,554 $1,975 $909 $1,055 $333 $499 $170 
Service cost110 36 30 18 12 3 6 3 
Interest cost344 84 107 49 57 18 27 9 
Actuarial loss
94 11 47 18 29 2 4 9 
Benefits paid(607)(177)(159)(80)(78)(31)(40)(16)
Transfers— 6 (10)(3)(6)— — — 
Obligation at measurement date$6,299 $1,514 $1,990 $911 $1,069 $325 $496 $175 
Accumulated Benefit Obligation at measurement date$6,267 $1,517 $1,975 $912 $1,053 $317 $494 $176 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$6,993 $1,815 $2,371 $1,083 $1,271 $323 $501 $203 
Employer contributions100 26 22 13 9 5 8 3 
Actual return on plan assets676 183 229 107 120 29 45 23 
Benefits paid(607)(177)(159)(80)(78)(31)(40)(16)
Transfers— 6 (10)(3)(6)— — — 
Plan assets at measurement date$7,162 $1,853 $2,453 $1,120 $1,316 $326 $514 $213 
Funded status of plan$863 $339 $463 $209 $247 $1 $18 $38 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $8,207 $1,903 $2,560 $1,153 $1,392 $450 $680 $273 
Service cost145 47 40 24 16 4 8 5 
Interest cost249 59 77 35 41 13 20 8 
Actuarial gain(1,490)(301)(513)(197)(312)(84)(143)(47)
Benefits paid(753)(159)(184)(101)(82)(50)(66)(69)
Transfers— 5 (5)(5)— — — — 
Obligation at measurement date$6,358 $1,554 $1,975 $909 $1,055 $333 $499 $170 
Accumulated Benefit Obligation at measurement date$6,324 $1,556 $1,959 $910 $1,038 $327 $495 $170 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$9,235 $2,365 $3,053 $1,421 $1,610 $438 $669 $334 
Employer contributions58 15 13 8 5 3 5 2 
Actual return on plan assets(1,547)(411)(506)(240)(262)(68)(107)(64)
Benefits paid(753)(159)(184)(101)(82)(50)(66)(69)
Transfers— 5 (5)(5)— — — — 
Plan assets at measurement date$6,993 $1,815 $2,371 $1,083 $1,271 $323 $501 $203 
Funded status of plan$635 $261 $396 $174 $216 $(10)$2 $33 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$863 $339 $463 $209 $247 $74 $105 $38 
Noncurrent pension liability(b)
$— $— $— $— $— $73 $87 $— 
Net asset (liability) recognized$863 $339 $463 $209 $247 $1 $18 $38 
Regulatory assets$2,021 $531 $678 $353 $325 $89 $176 $97 
Accumulated other comprehensive (income) loss 
Deferred income tax benefit$(27)$— $(1)$— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial loss127 — 3 — — — 2 — 
Net amounts recognized in accumulated other comprehensive loss$99 $— $2 $— $— $— $2 $— 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$885 $261 $396 $174 $216 $62 $90 $33 
Noncurrent pension liability(b)
$250 $— $— $— $— $72 $88 $— 
Net asset (liability) recognized$635 $261 $396 $174 $216 $(10)$2 $33 
Regulatory assets$2,016 $545 $670 $353 $316 $92 $178 $84 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$(27)$— $(1)$— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial loss129 — 3 — — — — — 
Net amounts recognized in accumulated other comprehensive loss$101 $— $2 $— $— $— $— $— 
(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
December 31, 2023
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$105 $208 
Accumulated benefit obligation100 203 
Fair value of plan assets31 121 
December 31, 2022
DukeDuke
DukeEnergyEnergy
(in millions)EnergyOhioIndiana
Projected benefit obligation$3,323 $103 $198 
Accumulated benefit obligation3,288 99 193 
Fair value of plan assets3,073 31 110 
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions or range of assumptions used for pension benefit accounting.
December 31,
202320222021
Benefit Obligations
Discount rate5.40%5.60%2.90%
Interest crediting rate4.15%4.35%4.00%
Salary increase 3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Net Periodic Benefit Cost
Discount rate5.60%2.90 %–5.70%2.60%
Interest crediting rate4.35%4.00%4.00%
Salary increase3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Expected long-term rate of return on plan assets6.50 %–8.25 %6.50%6.50%
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2024$634 $176 $180 $95 $84 $31 $45 $18 
2025624 171 182 97 84 30 44 16 
2026601 162 177 89 86 30 43 16 
2027582 153 175 87 86 29 42 15 
2028565 146 171 84 86 29 42 15 
2029-2033
2,481 590 779 355 420 131 200 73 
Other Post-Retirement Benefit Plans  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Other Post-Retirement Benefit Costs
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$2 $1 $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation22 5 9 5 4 1 1 1 
Expected return on plan assets(11)(7)— — — — — (2)
Amortization of actuarial (gain) loss
(6)(3)8 5 2 (2)(3)— 
Amortization of prior service credit(23)(5)(11)(6)(5)— (5)— 
Net periodic post-retirement benefit costs (a)(b)
$(16)$(9)$6 $4 $1 $(1)$(7)$(1)
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$3 $1 $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation17 4 7 4 3 1 1 1 
Expected return on plan assets(10)(6)— — — — — (2)
Amortization of actuarial loss2 — 1 1 1 — — — 
Amortization of prior service credit(8)(3)(2)(1)(1)— — (2)
Net periodic post-retirement benefit costs(a)(b)
$4 $(4)$6 $4 $3 $1 $1 $(3)
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$4 $1 $1 $— $— $— $1 $— 
Interest cost on accumulated post-retirement benefit obligation18 4 7 4 3 1 1 1 
Expected return on plan assets(11)(7)— — — — — (2)
Amortization of actuarial loss2 — 1 — 1 — 4 — 
Amortization of prior service credit(13)(4)(2)(1)(1)(1)(1)(2)
Net periodic post-retirement benefit costs(a)(b)
$— $(6)$7 $3 $3 $— $5 $(3)
(a)    Duke Energy amounts exclude $4 million, $4 million and $5 million for the years ended December 2023, 2022 and 2021, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2023, 2022 and 2021, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)
$73 $79 $(7)$(5)$— $(2)$(2)$1 
Regulatory liabilities, net increase (decrease)$41 $62 $— $— $— $(4)$(8)$— 
Accumulated other comprehensive (income) loss
Amortization of prior year service credit$1 $— $— $— $— $— $— $— 
Amortization of prior year actuarial gain— — (1)— — — — — 
Net amount recognized in accumulated other comprehensive income$1 $— $(1)$— $— $— $— $— 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase$(79)$— $(80)$(45)$(36)$— $(3)$— 
Regulatory liabilities, net increase (decrease)
$27 $— $— $— $— $— $19 $(5)
Accumulated other comprehensive (income) loss
Amortization of prior year actuarial gain$1 $— $— $— $— $— $— $— 
Net amount recognized in accumulated other comprehensive income$1 $— $— $— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$437 $112 $168 $95 $69 $20 $30 $21 
Service cost2 1 — — — — — — 
Interest cost22 5 9 5 4 1 1 1 
Plan participants' contributions4 1 1 1 1 — — — 
Actuarial (gains) losses
(10)(2)(10)(6)(4)1 (1)1 
Transfers  (50)(34)— — — — — (6)
Benefits paid(58)(14)(22)(11)(10)(3)(6)(2)
Accumulated post-retirement benefit obligation at measurement date$347 $69 $146 $84 $60 $19 $24 $15 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$162 $105 $— $(2)$(2)$7 $3 $31 
401(h) asset transfers— (8)— — — — — — 
Actual return on plan assets19 8 — — — 1 — 4 
Benefits paid(58)(14)(22)(11)(10)(3)(6)(2)
Transfers(13)4 — — — — — (7)
Employer contributions42 6 20 11 10 2 6 1 
Plan participants' contributions4 1 1 1 1 — — — 
Plan assets at measurement date$156 $102 $(1)$(1)$(1)$7 $3 $27 
Funded status of plan$(191)$33 $(147)$(85)$(61)$(12)$(21)$12 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$625 $149 $263 $147 $112 $25 $54 $27 
Service cost3 1 — — — — — — 
Interest cost17 4 7 4 3 1 1 1 
Plan participants' contributions11 2 4 2 2 1 1 — 
Actuarial gains(80)(17)(43)(27)(16)(3)(1)(5)
Plan amendments(71)(11)(37)(18)(19)— (17)— 
Benefits paid(68)(16)(26)(13)(13)(4)(8)(2)
Accumulated post-retirement benefit obligation at measurement date$437 $112 $168 $95 $69 $20 $30 $21 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$211 $135 $(1)$(2)$(2)$9 $6 $39 
Actual return on plan assets(31)(19)— — — (2)— (7)
Benefits paid(68)(16)(26)(13)(13)(4)(8)(2)
Employer contributions39 3 23 11 11 3 4 1 
Plan participants' contributions11 2 4 2 2 1 1 — 
Plan assets at measurement date$162 $105 $— $(2)$(2)$7 $3 $31 
Funded status of plan$(275)$(7)$(168)$(97)$(71)$(13)$(27)$10 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$— $61 $— $— $— $1 $— $12 
Current post-retirement liability(a)
12 3 5 3 2 1 — — 
Noncurrent post-retirement liability(b)
179 25 142 82 59 12 21 — 
Net liability (asset) recognized$191 $(33)$147 $85 $61 $12 $21 $(12)
Regulatory assets$123 $79 $39 $29 $11 $2 $23 $1 
Regulatory liabilities$230 $106 $— $— $— $17 $74 $— 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Net actuarial gain(13)— (1)— — — — — 
Net amounts recognized in accumulated other comprehensive income$(10)$— $(1)$— $— $— $— $— 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$— $— $— $— $— $1 $— $10 
Current post-retirement liability(a)
9 — 5 3 2 2 — — 
Noncurrent post-retirement liability(b)
266 7 163 94 69 12 27 — 
Net liability (asset) recognized$275 $7 $168 $97 $71 $13 $27 $(10)
Regulatory assets$50 $— $46 $34 $11 $4 $25 $— 
Regulatory liabilities$189 $44 $— $— $— $21 $82 $— 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial gain(13)— — — — — — — 
Net amounts recognized in accumulated other comprehensive income$(11)$— $— $— $— $— $— $— 
(a)    Included in Other within Current Liabilities on the Consolidated Balance Sheets. 
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions used for other post-retirement benefits accounting.
December 31,
202320222021
Benefit Obligations
Discount rate5.40 %5.60 %2.90 %
Net Periodic Benefit Cost
Discount rate5.60 %2.90 %2.60 %
Expected long-term rate of return on plan assets6.50 %–8.25 %6.50 %6.50 %
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2024$57 $14 $18 $11 $8 $3 $4 $2 
202547 11 17 10 7 3 3 2 
202642 10 15 9 6 3 3 2 
202737 8 14 8 6 2 3 2 
202834 7 13 8 5 2 2 2 
2029-2033
124 23 55 32 23 7 8 7 
Assumed Health Care Cost Trend Rate
Assumed Health Care Cost Trend Rate
December 31,
20232022
Health care cost trend rate assumed for next year – pre-65 trend
6.50 %6.50 %
Health care cost trend rate assumed for next year – post-65 trend
— %6.50 %
Rate to which the cost trend is assumed to decline (the ultimate trend rate)4.75 %4.75 %
Year that rate reaches ultimate trend
2031-2032
2030-2032
v3.24.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Components of Income Tax Expense
Tax benefit from discontinued operations, in the following tables, includes income tax benefits related to the Commercial Renewables Disposal Groups. See Note 2 for further details.
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes
Federal(b)
$71 $173 $459 $198 $279 $(46)$10 $44 
State 1 22 38 4 71 (3)9 3 
Foreign 3 — — — — — — — 
Total current income taxes 75 195 497 202 350 (49)19 47 
Deferred income taxes       
Federal 319 (43)(154)(69)(89)111 77 25 
State 53 (7)38 19 — 1 14 12 
Total deferred income taxes(a)
372 (50)(116)(50)(89)112 91 37 
ITC amortization (9)(4)(4)(3)— — — — 
Income tax expense from continuing operations 438 141 377 149 261 63 110 84 
Tax benefit from discontinued operations (359)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations
$79 $141 $377 $149 $261 $63 $110 $84 
(a)     Total deferred income taxes includes the utilization of NOL carryforwards and tax credit carryforwards of $214 million at Duke Energy and $54 million at Duke Energy Indiana. In addition, total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $2 million at Duke Energy Carolinas, $116 million at Progress Energy, $59 million at Duke Energy Progress, $5 million at Duke Energy Florida, $22 million at Duke Energy Ohio, and $15 million at Piedmont.
(b)    Total current federal income tax at Duke Energy includes corporate alternative minimum tax, net of tax credit utilization, of $69 million. In addition, under the IRA transferability provision, Progress Energy elected to sell $28 million of PTCs generated by Duke Energy Florida. Cash received and paid related to the transfer of tax credits is included in Cash paid for (received from) income taxes on the Consolidated Statements of Cash Flows.
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $1 $(71)$(13)$37 $(37)$(2)$38 $32 
State (8)(13)(3)— (23)1 2 2 
Foreign 4 — — — — — — — 
Total current income taxes (3)(84)(16)37 (60)(1)40 34 
Deferred income taxes       
Federal 328 230 310 118 201 (22)(63)12 
State (14)(16)59 7 84 3 — (7)
Total deferred income taxes(a)
314 214 369 125 285 (19)(63)5 
ITC amortization (11)(4)(5)(4)— (1)(1)— 
Income tax expense from continuing operations 300 126 348 158 225 (21)(24)39 
Tax benefit from discontinued operations (503)— — — — — — — 
Total income tax (benefit) expense included in Consolidated Statements of Operations
$(203)$126 $348 $158 $225 $(21)$(24)$39 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $550 million at Duke Energy, $97 million at Duke Energy Carolinas, $128 million at Progress Energy, $9 million at Duke Energy Progress, $111 million at Duke Energy Florida, $7 million at Duke Energy Ohio, $13 million at Duke Energy Indiana, and $12 million at Piedmont.
 Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $(2)$241 $(15)$113 $(75)$(8)$65 $23 
State 1 23 (4)8 (17)(2)7 3 
Foreign 2 — — — — — — — 
Total current income taxes 1 264 (19)121 (92)(10)72 26 
Deferred income taxes        
Federal 275 (130)203 (16)202 35 19 17 
State — (79)47 (26)77 5 16 (13)
Total deferred income taxes(a)
275 (209)250 (42)279 40 35 4 
ITC amortization (8)(4)(4)(4)— — — — 
Income tax expense from continuing operations
268 51 227 75 187 30 107 30 
Tax benefit from discontinued operations (76)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations
$192 $51 $227 $75 $187 $30 $107 $30 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $32 million at Duke Energy Carolinas, $8 million at Duke Energy Indiana, and $3 million at Piedmont. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $250 million at Duke Energy, $95 million at Progress Energy, $14 million at Duke Energy Progress, $64 million at Duke Energy Florida and $2 million at Duke Energy Ohio.
Schedule of Income before Income Tax, Domestic and Foreign
Duke Energy Income from Continuing Operations before Income Taxes
 Years Ended December 31,
(in millions)202320222021
Domestic$4,700 $3,991 $3,947 
Foreign67 87 44 
Income from continuing operations before income taxes$4,767 $4,078 $3,991 
Summary of Effective Tax Rates
The following tables present a reconciliation of income tax expense at the U.S. federal statutory tax rate to the actual tax expense from continuing operations.
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$1,001$338$490$241$268$83$128$97
State income tax, net of federal income tax effect4312 601856(2)1812
Amortization of EDIT
(388)(197)(114)(91)(23)(22)(33)(20)
AFUDC equity income(41)(19)(14)(11)(3)(2)(2)(4)
AFUDC equity depreciation3718136724—
Tax credits(b)
(63)(11)(46)(7)(39)(2)(2)(1)
Interest on company-owned life insurance(a)
(114)———————
Other items, net(37)—(12)(7)(5)6(3)—
Income tax expense from continuing operations$438 $141 $377 $149 $261 $63 $110 $84 
Effective tax rate9.2 %8.8 %16.2 %13.0 %20.4 %15.9 %18.1 %18.1 %
(a)     During 2023, the Company evaluated the deductibility of certain items spanning periods currently open under federal statute, including items related to interest on company-owned life insurance. As a result of this analysis, the Company recorded a favorable federal adjustment of approximately $114 million and a favorable state adjustment of approximately $6 million. The favorable state adjustment is included in State income tax, net of federal income tax effect, in the above table.
(b)    Tax credits at Progress Energy and Duke Energy Florida include $28 million of certain eligible PTCs, net of discount, that were elected to be sold in 2023 under the transferability provisions of the IRA. Cash received and paid related to the transfer of tax credits is included in Cash paid for (received from) income taxes on the Consolidated Statements of Cash Flows.
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$856 $362 $457 $245 $238 $59 $24 $76 
State income tax, net of federal income tax effect(17)(23)44 6 48 3 2 (4)
Amortization of EDIT
(481)(195)(133)(74)(59)(79)(48)(23)
AFUDC equity income(41)(20)(14)(11)(3)(1)(2)(2)
AFUDC equity depreciation36 18 12 6 6 1 4 — 
Other tax credits(43)(12)(16)(9)(7)(2)(3)(8)
Other items, net(10)(4)(2)(5)2 (2)(1)— 
Income tax expense (benefit) from continuing operations
$300 $126 $348 $158 $225 $(21)$(24)$39 
Effective tax rate7.4 %7.3 %16.0 %13.6 %19.8 %(7.5)%(21.2)%10.8 %
 Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$838 $291 $384 $224 $194 $49 $123 $71 
State income tax, net of federal income tax effect1 (44)34 (14)47 2 18 (8)
Amortization of EDIT
(438)(184)(174)(120)(54)(22)(34)(25)
AFUDC equity income(34)(14)(11)(7)(3)(2)(4)(4)
AFUDC equity depreciation35 18 10 5 5 2 5 — 
Other tax credits(30)(12)(11)(8)(3)(1)(2)(4)
Valuation allowance(a)
(85)— — — — — — — 
Other items, net(19)(4)(5)(5)1 2 1 — 
Income tax expense from continuing operations
$268 $51 $227 $75 $187 $30 $107 $30 
Effective tax rate6.7 %3.7 %12.4 %7.0 %20.2 %12.8 %18.2 %8.8 %
(a)    In 2021, the Company recognized a federal capital gain in the amount of $426 million. As a result, a valuation allowance of $85 million related to a federal capital loss carryforward was released. This valuation allowance was originally recorded as a result of the 2019 sale of minority interest of certain renewable assets within the Commercial Renewables Disposal Groups.
Schedule of Deferred Tax Assets and Liabilities
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $327 $194 $77 $21 $56 $13 $18 $42 
Lease obligations 418 86 256 179 77 4 15 3 
Pension, post-retirement and other employee benefits 65 (41)(22)(1)(25)5 2 (5)
Progress Energy merger purchase accounting adjustments(a)
260 — — — — — — — 
Tax credits and NOL carryforwards 4,489 445 686 230 425 44 154 50 
Regulatory liabilities and deferred credits— — — — — — 47 — 
Investments and other assets— — — — — — 1 — 
Other 102 29 22 12 8 5 5 9 
Valuation allowance (544)— — — — — — — 
Total deferred income tax assets 5,117 713 1,019 441 541 71 242 99 
Investments and other assets (1,812)(1,213)(596)(520)(91)— — (37)
Accelerated depreciation rates (11,969)(3,411)(4,557)(1,823)(2,778)(1,314)(1,678)(944)
Regulatory assets and deferred debits, net (1,892)(468)(1,063)(658)(405)(29)— (51)
Total deferred income tax liabilities (15,673)(5,092)(6,216)(3,001)(3,274)(1,343)(1,678)(1,032)
Net deferred income tax liabilities$(10,556)$(4,379)$(5,197)$(2,560)$(2,733)$(1,272)$(1,436)$(933)
(a)    Primarily related to lease obligations and debt fair value adjustments.
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $348 $170 $117 $33 $83 $12 $23 $24 
Lease obligations 405 89 263 197 65 4 15 3 
Pension, post-retirement and other employee benefits 192 (1)12 18 (10)9 10 (2)
Progress Energy merger purchase accounting adjustments(a)
301 — — — — — — — 
Tax credits and NOL carryforwards 4,426 444 618 167 412 20 208 37 
Regulatory liabilities and deferred credits— — — — — 3 61 — 
Investments and other assets— — — — — 3 — — 
Other 106 18 22 12 10 5 2 9 
Valuation allowance (519)— — — — — — — 
Total deferred income tax assets 5,259 720 1,032 427 560 56 319 71 
Investments and other assets (1,671)(983)(521)(432)(102)— (12)(28)
Accelerated depreciation rates (11,478)(3,410)(4,358)(1,844)(2,576)(1,192)(1,606)(892)
Regulatory assets and deferred debits, net (2,074)(480)(1,300)(628)(671)— — (21)
Total deferred income tax liabilities (15,223)(4,873)(6,179)(2,904)(3,349)(1,192)(1,618)(941)
Net deferred income tax liabilities $(9,964)$(4,153)$(5,147)$(2,477)$(2,789)$(1,136)$(1,299)$(870)
(a)    Primarily related to lease obligations and debt fair value adjustments.
Summary of Tax Credit Carryforwards
The following table presents the expiration of tax credits and NOL carryforwards.
 December 31, 2023
(in millions)AmountExpiration Year
General Business Credits$2,388 2029—2043
Foreign Tax Credits(d)
1,155 2024—2028
State Carryforwards and Credits(b) (e)
390 2024—Indefinite
Corporate AMT Credits
278 Indefinite
Federal Capital Loss(f)
73 2027—2028
Federal NOL carryforwards(a) (e)
193 2024—Indefinite
Foreign NOL carryforwards(c)
12 2027—2038
Total tax credits and NOL carryforwards $4,489    
(a)    A valuation allowance of $4 million has been recorded on the Federal NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(b)    A valuation allowance of $110 million has been recorded on the state NOL and attribute carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(c)    A valuation allowance of $12 million has been recorded on the foreign NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(d)    A valuation allowance of $389 million has been recorded on the foreign tax credits, as presented in the Net Deferred Income Tax Liability Components table.
(e)    Indefinite carryforward for Federal NOLs, and NOLs for states that have adopted the Tax Act's NOL provisions, generated in tax years beginning after December 31, 2017.
(f)    A valuation allowance of $29 million has been recorded on the Federal Capital Loss, as presented in the Net Deferred Income Tax Liability Components table.
Schedule of Unrecognized Tax Benefits Roll Forward
The following tables present changes to unrecognized tax benefits.
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$65 $17 $19 $13 $5 $1 $2 $9 
Gross decreases – tax positions in prior periods(15)— — — — — — — 
Gross increases – current period tax positions12 4 5 5 1 1 1 2 
Total changes(3)4 5 5 1 1 1 2 
Unrecognized tax benefits – December 31$62 $21 $24 $18 $6 $2 $3 $11 
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$51 $13 $15 $10 $4 $1 $2 $4 
Gross increases – current period tax positions14 4 4 3 1 — — 5 
Total changes14 4 4 3 1 — — 5 
Unrecognized tax benefits – December 31$65 $17 $19 $13 $5 $1 $2 $9 
 Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$125 $10 $10 $6 $3 $1 $1 $1 
Gross decreases – tax positions in prior periods(a)
(86)— — — — — — — 
Gross increases – current period tax positions12 3 5 4 1 — 1 3 
Total changes(74)3 5 4 1 — 1 3 
Unrecognized tax benefits – December 31$51 $13 $15 $10 $4 $1 $2 $4 
(a)    In 2021, the Company recognized a federal capital gain in the amount of $426 million. As a result of the capital gain, a previously recorded unrecognized tax benefit related to the character of a taxable loss has been reversed. See note (a) under the Statutory Rate Reconciliation table for more details.
Summary of Income Tax Contingencies
The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits at December 31, 2023. None of Duke Energy Registrants anticipates a material increase or decrease in unrecognized tax benefits within the next 12 months.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Amount that if recognized, would affect the
effective tax rate or regulatory liability(a)
$57 $20 $22 $16 $6 $2 $3 $10 
(a)    The Duke Energy Registrants are unable to estimate the specific amounts that would affect the ETR versus the regulatory liability.
v3.24.0.1
Other Income and Expenses, Net (Tables)
 12 Months Ended
Dec. 31, 2023
Other Income and Expenses [Abstract]  
Schedule of Other Income and Expenses, Net
The components of Other income and expenses, net on the Consolidated Statements of Operations are as follows.
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income$29 $10 $14 $9 $7 $25 $25 $19 
AFUDC equity 198 91 67 52 15 9 10 21 
Post-in-service equity returns
39 19 19 19 — 1 — — 
Nonoperating income, other 332 118 101 44 56 6 41 17 
Other income and expense, net $598 $238 $201 $124 $78 $41 $76 $57 
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $27 $2 $24 $4 $20 $11 $15 $19 
AFUDC equity 197 98 68 52 16 7 13 11 
Post-in-service equity returns
34 14 18 18 — 1 1 — 
Nonoperating income, other134 107 71 40 38 — 7 16 
Other income and expense, net $392 $221 $181 $114 $74 $19 $36 $46 
 Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $13 $4 $8 $6 $2 $4 $6 $19 
AFUDC equity 171 65 51 34 16 7 27 20 
Post-in-service equity returns
39 21 16 16 — 1 1 — 
Nonoperating income, other413 180 140 87 53 6 8 16 
Other income and expense, net$636 $270 $215 $143 $71 $18 $42 $55 
v3.24.0.1
Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]  
Schedule Of Quarterly Financial Information
Quarterly EPS amounts may not sum to the full-year total due to changes in the weighted average number of common shares outstanding and rounding.
FirstSecondThirdFourth
(in millions, except per share data) QuarterQuarterQuarterQuarterTotal
2023     
Operating revenues $7,276 $6,578 $7,994 $7,212 $29,060 
Operating income 1,674 1,430 2,111 1,855 7,070 
Income from continuing operations 970 751 1,473 1,135 4,329 
Loss from discontinued operations, net of tax
(209)(955)(152)(139)(1,455)
Net income (loss)761 (204)1,321 996 2,874 
Net income (loss) available to Duke Energy Corporation common stockholders765 (234)1,213 991 2,735 
Earnings per share:      
Income from continuing operations available to Duke Energy Corporation common stockholders      
Basic and diluted$1.20 $0.91 $1.83 $1.41 $5.35 
Loss from discontinued operations attributable to Duke Energy Corporation common stockholders
 
Basic and diluted$(0.19)$(1.23)$(0.24)$(0.14)$(1.81)
Net income (loss) available to Duke Energy Corporation common stockholders  
Basic and diluted$1.01 $(0.32)$1.59 $1.27 $3.54 
2022     
Operating revenues $7,011 $6,564 $7,842 $7,351 $28,768 
Operating income 1,314 1,448 2,056 1,194 6,012 
Income from continuing operations 835 898 1,410 635 3,778 
(Loss) Income from discontinued operations, net of tax
(15)(18)3 (1,293)(1,323)
Net income (loss)
820 880 1,413 (658)2,455 
Net income (loss) available to Duke Energy Corporation common stockholders
818 893 1,383 (650)2,444 
Earnings per share:      
Income from continuing operations available to Duke Energy Corporation common stockholders      
Basic and diluted$1.06 $1.11 $1.78 $0.80 $4.74 
Income (Loss) from discontinued operations attributable to Duke Energy Corporation common stockholders
 
Basic and diluted$0.02 $0.03 $0.03 $(1.66)$(1.57)
Net income (loss) available to Duke Energy Corporation common stockholders
 

Basic and diluted$1.08 $1.14 $1.81 $(0.86)$3.17 
Schedule Of Unusual Or Infrequently Occurring Items
v3.24.0.1
Summary of Significant Accounting Policies (Other Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Duke Energy Carolinas | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Accrued compensation $ 224 $ 247
Duke Energy Florida | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Customer deposits/Collateral liabilities 168 200
Duke Energy Ohio | Current Assets    
Organization And Basis Of Presentation [Line Items]    
Gas Storage 23 57
Tax receivables 95 4
Duke Energy Indiana | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Customer advances 87 51
Duke Energy Indiana | Current Assets    
Organization And Basis Of Presentation [Line Items]    
Mark-to-market transactions $ 18 $ 110
v3.24.0.1
Summary of Significant Accounting Policies (Schedule of Cash and Cash Equivalents) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 253 $ 409
Other 76 82
Other Noncurrent Assets    
Other 16 11
Total cash, cash equivalents and restricted cash 345 502
Duke Energy Carolinas    
Current Assets    
Cash and cash equivalents 9 44
Other 9 8
Other Noncurrent Assets    
Other 1 1
Total cash, cash equivalents and restricted cash 19 53
Progress Energy    
Current Assets    
Cash and cash equivalents 59 108
Other 67 74
Other Noncurrent Assets    
Other 9 2
Total cash, cash equivalents and restricted cash 135 184
Duke Energy Progress    
Current Assets    
Cash and cash equivalents 18 49
Other 31 28
Other Noncurrent Assets    
Other 2 2
Total cash, cash equivalents and restricted cash 51 79
Duke Energy Florida    
Current Assets    
Cash and cash equivalents 24 45
Other 36 41
Other Noncurrent Assets    
Other 7  
Total cash, cash equivalents and restricted cash $ 67 $ 86
v3.24.0.1
Summary of Significant Accounting Policies (Inventory) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Public Utilities, Inventory [Line Items]    
Materials and supplies $ 3,086 $ 2,604
Coal 842 620
Natural gas, oil and other 364 360
Total inventory 4,292 3,584
Duke Energy Carolinas    
Public Utilities, Inventory [Line Items]    
Materials and supplies 1,075 876
Coal 364 253
Natural gas, oil and other 45 35
Total inventory 1,484 1,164
Progress Energy    
Public Utilities, Inventory [Line Items]    
Materials and supplies 1,465 1,232
Coal 231 190
Natural gas, oil and other 205 157
Total inventory 1,901 1,579
Duke Energy Progress    
Public Utilities, Inventory [Line Items]    
Materials and supplies 963 819
Coal 154 99
Natural gas, oil and other 110 88
Total inventory 1,227 1,006
Duke Energy Florida    
Public Utilities, Inventory [Line Items]    
Materials and supplies 502 413
Coal 77 91
Natural gas, oil and other 95 69
Total inventory 674 573
Duke Energy Ohio    
Public Utilities, Inventory [Line Items]    
Materials and supplies 139 105
Coal 28 34
Natural gas, oil and other 12 5
Total inventory 179 144
Duke Energy Indiana    
Public Utilities, Inventory [Line Items]    
Materials and supplies 361 342
Coal 219 144
Natural gas, oil and other 2 3
Total inventory 582 489
Piedmont    
Public Utilities, Inventory [Line Items]    
Materials and supplies 12 12
Natural gas, oil and other 100 160
Total inventory $ 112 $ 172
v3.24.0.1
Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 2.90% 3.00% 2.90%
Duke Energy Carolinas      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 2.70% 2.70% 2.70%
Progress Energy      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.30% 3.20% 3.10%
Duke Energy Progress      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.10% 3.00% 3.00%
Duke Energy Florida      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.50% 3.50% 3.30%
Duke Energy Ohio      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 2.80% 2.90% 2.90%
Duke Energy Indiana      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.60% 3.60% 3.60%
Piedmont      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 2.10% 2.10% 2.10%
v3.24.0.1
Summary of Significant Accounting Policies (Other Noncurrent Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Offsetting Assets [Line Items]    
Other (including amounts related to VIEs) $ 3,964 $ 3,400
Renewable Energy Program    
Offsetting Assets [Line Items]    
Other (including amounts related to VIEs) $ 150 $ 150
v3.24.0.1
Summary of Significant Accounting Policies (Accounts Payable and Supplier Invoices Sold) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period $ 87 $ 19
Invoices confirmed during the period 228 283
Confirmed invoices paid during the period (265) (215)
Confirmed obligations outstanding at end of period 50 87
Duke Energy Carolinas    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 6 0
Invoices confirmed during the period 24 29
Confirmed invoices paid during the period (30) (23)
Confirmed obligations outstanding at end of period 0 6
Progress Energy    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 19 9
Invoices confirmed during the period 58 76
Confirmed invoices paid during the period (74) (66)
Confirmed obligations outstanding at end of period 3 19
Duke Energy Progress    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 8 0
Invoices confirmed during the period 22 26
Confirmed invoices paid during the period (30) (18)
Confirmed obligations outstanding at end of period 0 8
Duke Energy Florida    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 11 9
Invoices confirmed during the period 36 50
Confirmed invoices paid during the period (44) (48)
Confirmed obligations outstanding at end of period 3 11
Duke Energy Ohio    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 5 6
Invoices confirmed during the period 7 32
Confirmed invoices paid during the period (12) (33)
Confirmed obligations outstanding at end of period 0 5
Duke Energy Indiana    
Payables [Line Items]    
Invoices confirmed during the period   2
Confirmed invoices paid during the period   (2)
Piedmont    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 57 4
Invoices confirmed during the period 139 145
Confirmed invoices paid during the period (149) (92)
Confirmed obligations outstanding at end of period $ 47 $ 57
v3.24.0.1
Summary of Significant Accounting Policies (Excise Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Organization And Basis Of Presentation [Line Items]      
Excise taxes $ 458 $ 449 $ 420
Duke Energy Carolinas      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 27 47 44
Progress Energy      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 322 290 250
Duke Energy Progress      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 5 25 22
Duke Energy Florida      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 317 265 228
Duke Energy Ohio      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 106 104 102
Duke Energy Indiana      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 1 7 23
Piedmont      
Organization And Basis Of Presentation [Line Items]      
Excise taxes $ 2 $ 1 $ 1
v3.24.0.1
Dispositions (Duke Energy Discontinued Operations) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
(Loss) Income from discontinued operations, net of tax $ (139) $ (152) $ (955) $ (209) $ (1,293) $ 3 $ (18) $ (15) $ (1,455) $ (1,323) $ (144)
Discontinued Operations, Held-for-sale                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
(Loss) Income from discontinued operations, net of tax                 (1,455) (1,323) (144)
Discontinued Operations, Held-for-sale | Commercial Renewables Disposal Groups                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
(Loss) Income from discontinued operations, net of tax                 (1,457) (1,349) (151)
Discontinued Operations, Held-for-sale | Other                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
(Loss) Income from discontinued operations, net of tax                 $ 2 $ 26 $ 7
v3.24.0.1
Dispositions (Narrative) (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Oct. 04, 2023
USD ($)
Sep. 08, 2021
USD ($)
Jan. 28, 2021
USD ($)
closing
Dec. 31, 2022
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Oct. 25, 2023
USD ($)
Duke Energy Indiana | Noncontrolling Interests                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Percentage sold     19.90%          
Number of closings | closing     2          
Value of sale of parent interest   $ 1,030.0 $ 2,050.0 $ 1,030.0        
Ownership interest sold (as a percentage)   11.05%   8.85%   8.85%    
Proceed of purchase price for exchange in interest   50.00%            
Transaction costs   $ 27.0   $ 6.0        
Sale of noncontrolling interest   $ 545.0   492.0        
Discontinued Operations, Held-for-sale | Commercial Renewables Disposal Groups                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Noncontrolling interest balance       1,600.0 $ 66.3 $ 1,600.0    
Loss on disposal         (1,725.0) (1,748.0) $ 0.0  
Loss on disposal of PPE       $ 1,700.0 $ 278.0 $ 1,700.0    
Discontinued Operations, Disposed of by Sale | Brookfield Renewable Partners                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Consideration to be received               $ 1,100.0
Discontinued Operations, Disposed of by Sale | Arclight                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Consideration to be received $ 243.0              
Cash Divested from Deconsolidation $ 75.0              
v3.24.0.1
Dispositions (Balance Sheet) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current Assets Held for Sale    
Total current assets held for sale $ 14 $ 356
Noncurrent Assets Held for Sale    
Total other noncurrent assets held for sale 197 5,634
Current Liabilities Associated with Assets Held for Sale    
Total current liabilities associated with assets held for sale 122 535
Noncurrent Liabilities Associated with Assets Held for Sale    
Total other noncurrent liabilities associated with assets held for sale 157 1,927
Discontinued Operations, Held-for-sale | Commercial Renewables Disposal Groups    
Current Assets Held for Sale    
Cash and cash equivalents 0 10
Receivables, net 0 107
Inventory 0 88
Other 14 151
Total current assets held for sale 14 356
Noncurrent Assets Held for Sale    
Cost 247 6,444
Accumulated depreciation and amortization (57) (1,651)
Net property, plant and equipment 190 4,793
Operating lease right-of-use assets, net 4 140
Investments in equity method unconsolidated affiliates 0 522
Other 3 179
Total other noncurrent assets held for sale 7 841
Total Assets Held for Sale 211 5,990
Current Liabilities Associated with Assets Held for Sale    
Accounts payable 9 122
Taxes accrued 3 17
Current maturities of long-term debt 5 276
Unrealized losses on commodity hedges 68 37
Other 37 83
Total current liabilities associated with assets held for sale 122 535
Noncurrent Liabilities Associated with Assets Held for Sale    
Long-Term debt 39 1,188
Operating lease liabilities 5 150
Asset retirement obligations 8 190
Unrealized losses on commodity hedges 94 187
Other 11 212
Total other noncurrent liabilities associated with assets held for sale 157 1,927
Total Liabilities Associated with Assets Held for Sale $ 279 $ 2,462
v3.24.0.1
Dispositions (Income Statement) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Income tax benefit                 $ (359) $ (503) $ (76)
Loss from discontinued operations $ (139) $ (152) $ (955) $ (209) $ (1,293) $ 3 $ (18) $ (15) (1,455) (1,323) (144)
Add: Net loss attributable to noncontrolling interest included in discontinued operations                 64 108 344
Net (loss) income from discontinued operations attributable to Duke Energy Corporation                 (1,391) (1,215) 200
Discontinued Operations, Held-for-sale                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Loss from discontinued operations                 (1,455) (1,323) (144)
Discontinued Operations, Held-for-sale | Commercial Renewables Disposal Groups                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Operating revenues                 330 465 476
Operation, maintenance and other                 302 337 343
Depreciation and amortization                 0 201 227
Property and other taxes                 45 36 34
Other income and expenses, net                 (8) 2 (27)
Interest expense                 65 10 72
Loss on disposal                 1,725 1,748 0
Loss before income taxes                 (1,815) (1,865) (227)
Income tax benefit                 (358) (516) (76)
Loss from discontinued operations                 (1,457) (1,349) (151)
Add: Net loss attributable to noncontrolling interest included in discontinued operations                 64 108 344
Net (loss) income from discontinued operations attributable to Duke Energy Corporation                 $ (1,393) $ (1,241) $ 193
v3.24.0.1
Dispositions (Cash Flow Statement) (Details) - Commercial Renewables Disposal Groups - Discontinued Operations, Held-for-sale - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Operating activities $ 607 $ 213 $ 62
Investing activities $ 122 $ (802) $ (542)
v3.24.0.1
Business Segments (Business Segment Data) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues $ 7,212 $ 7,994 $ 6,578 $ 7,276 $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 29,060 $ 28,768 $ 24,621
Interest expense                 3,014 2,439 2,207
Depreciation and amortization                 5,253 5,086 4,762
Equity in earnings of unconsolidated affiliates                 113 113 62
Income Tax Expense                 438 300 268
Segment income (loss)                 4,126 3,659 3,602
Less noncontrolling interest                 (33) 95 329
Add back preferred stock dividend                 106 106 106
Net (loss) income from discontinued operations attributable to Duke Energy Corporation                 (1,391) (1,215) 200
Net income 996 $ 1,321 $ (204) $ 761 (658) $ 1,413 $ 880 $ 820 2,874 2,455 3,579
Capital expenditures                 12,622 11,419 9,752
Segment assets 176,893       178,086       176,893 178,086 169,587
Operation, maintenance and other                 5,625 5,734 5,703
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                 85 434 353
Total income (loss) from continuing operations before income taxes                 4,767 4,078 3,991
Nonregulated electric and other                 291 285 294
Regulated electric                 (26,617) (25,759) (22,319)
Income (loss) attributable to noncontrolling interest                 33 (95) (329)
Depreciation, amortization and accretion (including amortization of nuclear fuel)                 6,084 5,843 5,663
Losses on sales of other assets                 52 22 13
Duke Energy Indiana                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 3,399 3,922 3,174
Interest expense                 213 189 196
Depreciation and amortization                 666 645 615
Income Tax Expense                 110 (24) 107
Segment assets 14,811       14,654       14,811 14,654  
Operation, maintenance and other                 713 729 750
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                   388 9
Total income (loss) from continuing operations before income taxes                 607 113 588
Depreciation, amortization and accretion (including amortization of nuclear fuel)                 669 648 619
Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 2,507 2,514 2,037
Interest expense                 169 129 111
Depreciation and amortization                 367 324 307
Income Tax Expense                 63 (21) 30
Segment income (loss)                 334 302 204
Capital expenditures                 939 850 848
Segment assets 12,216       11,506       12,216 11,506 10,774
Operation, maintenance and other                 478 523 479
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                 3 (10) 25
Total income (loss) from continuing operations before income taxes                 397 281 234
Regulated electric                 (1,868) (1,798) (1,493)
Depreciation, amortization and accretion (including amortization of nuclear fuel)                 371 328 311
Duke Energy Carolinas                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 8,288 7,857 7,102
Interest expense                 686 557 538
Depreciation and amortization                 1,593 1,526 1,468
Income Tax Expense                 141 126 51
Segment assets 52,110       50,346       52,110 50,346  
Operation, maintenance and other                 1,774 1,892 1,833
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                 44 26 227
Total income (loss) from continuing operations before income taxes                 1,611 1,726 1,387
Depreciation, amortization and accretion (including amortization of nuclear fuel)                 1,845 1,787 1,743
Losses on sales of other assets                 26 4 2
Duke Energy Progress                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 6,488 6,753 5,780
Interest expense                 427 354 306
Depreciation and amortization                 1,266 1,187 1,097
Income Tax Expense                 149 158 75
Segment assets 36,924       36,752       36,924 36,752  
Operation, maintenance and other                 1,379 1,475 1,467
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                 29 7 63
Total income (loss) from continuing operations before income taxes                 1,147 1,166 1,066
Depreciation, amortization and accretion (including amortization of nuclear fuel)                 1,460 1,371 1,286
Other                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 37 30 29
Corporate And Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 134 122 113
Interest expense                 1,097 778 643
Depreciation and amortization                 248 236 236
Equity in earnings of unconsolidated affiliates                 66 86 47
Income Tax Expense                 (420) (244) (281)
Segment income (loss)                 (616) (737) (641)
Capital expenditures                 995 1,139 828
Segment assets 4,095       9,571       4,095 9,571 10,567
Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 (261) (218) (207)
Interest expense                 (150) (86) (10)
Depreciation and amortization                 (28) (27) (28)
Segment income (loss)                   (1) (3)
Eliminations | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Segment assets (121)       (176)       (121) (176) (29)
Total Reportable Segments                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 29,023 28,738 24,592
Total Reportable Segments | Operating Segments                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 29,187 28,864 24,715
Interest expense                 2,067 1,747 1,574
Depreciation and amortization                 5,033 4,877 4,554
Equity in earnings of unconsolidated affiliates                 47 27 15
Income Tax Expense                 858 544 549
Segment income (loss)                 4,742 4,397 4,246
Capital expenditures                 11,627 10,280 8,924
Segment assets 172,798       168,515       172,798 168,515 159,020
Total Reportable Segments | Operating Segments | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 2,507 2,514 2,037
Interest expense                 169 129 111
Depreciation and amortization                 367 324 307
Income Tax Expense                 65 (19) 34
Segment income (loss)                 343 310 219
Capital expenditures                 939 850 848
Segment assets 12,324       11,668       12,324 11,668 10,774
Total Reportable Segments | Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 164 126 123
Electric Utilities and Infrastructure                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 26,846 25,990 22,570
Equity in earnings of unconsolidated affiliates                 7 7 7
Electric Utilities and Infrastructure | Duke Energy Carolinas                      
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                 35    
Electric Utilities and Infrastructure | Duke Energy Progress                      
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                 33    
Electric Utilities and Infrastructure | Operating Segments                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 26,921 26,024 22,603
Interest expense                 1,850 1,565 1,432
Depreciation and amortization                 4,684 4,550 4,251
Equity in earnings of unconsolidated affiliates                 7 7 7
Income Tax Expense                 742 536 494
Segment income (loss)                 4,223 3,929 3,850
Capital expenditures                 10,135 8,985 7,653
Segment assets 155,449       152,104       155,449 152,104 143,841
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Indiana                      
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                   386  
Regulated electric                   46  
Income (loss) attributable to noncontrolling interest                   34  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 1,868 1,798 1,493
Interest expense                 116 86 87
Depreciation and amortization                 257 221 217
Income Tax Expense                 42 24 15
Segment income (loss)                 227 189 141
Capital expenditures                 520 488 486
Segment assets 7,978       7,504       7,978 7,504 6,882
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Interest expense                     3
Operation, maintenance and other                     5
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                     160
Total income (loss) from continuing operations before income taxes                     77
Regulated electric                     (13)
Depreciation, amortization and accretion (including amortization of nuclear fuel)                     6
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas | Operation, Maintenance and Other                      
Segment Reporting Information Assets [Abstract]                      
Segment income (loss)                 8    
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Interest expense                     5
Operation, maintenance and other                     7
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                     42
Total income (loss) from continuing operations before income taxes                     34
Regulated electric                     (15)
Depreciation, amortization and accretion (including amortization of nuclear fuel)                     1
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress | Operation, Maintenance and Other                      
Segment Reporting Information Assets [Abstract]                      
Segment income (loss)                 8    
Electric Utilities and Infrastructure | Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 75 34 33
Gas Utilities and Infrastructure                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 2,177 2,748 2,022
Equity in earnings of unconsolidated affiliates                 40 21 8
Gas Utilities and Infrastructure | Operating Segments                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 2,266 2,840 2,112
Interest expense                 217 182 142
Depreciation and amortization                 349 327 303
Equity in earnings of unconsolidated affiliates                 40 20 8
Income Tax Expense                 116 8 55
Segment income (loss)                 519 468 396
Capital expenditures                 1,492 1,295 1,271
Segment assets 17,349       16,411       17,349 16,411 15,179
Gas Utilities and Infrastructure | Operating Segments | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 639 716 544
Interest expense                 53 43 24
Depreciation and amortization                 110 103 90
Income Tax Expense                 23 (43) 19
Segment income (loss)                 116 121 78
Capital expenditures                 419 362 362
Segment assets 4,346       4,164       4,346 4,164 3,892
Gas Utilities and Infrastructure | Operating Segments | Gas Pipeline Assets                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Equity in earnings of unconsolidated affiliates                     20
Gas Utilities and Infrastructure | Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 89 92 90
Other | Other | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Income Tax Expense                 (2) (2) (4)
Segment income (loss)                 (9) (8) (15)
Segment assets $ 13       $ 14       13 14 29
Other                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operation, maintenance and other                   71  
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                 14    
Other | Operation, Maintenance and Other                      
Segment Reporting Information Assets [Abstract]                      
Segment income (loss)                 110    
Other | Business Transformation                      
Segment Reporting Information Assets [Abstract]                      
Losses on sales of other assets                   7  
Other | Litigation                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operation, maintenance and other                   25  
Other | Operating Segments                      
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                   72  
Other | Operating Segments | Business Transformation                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operation, maintenance and other                     42
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                     133
Depreciation, amortization and accretion (including amortization of nuclear fuel)                     17
Other | Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Operating Revenues                 $ 97 $ 92 $ 84
v3.24.0.1
Business Segments (Narrative) (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2023
USD ($)
segment
Segment
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Segment Reporting Information [Line Items]                      
Number of reportable segments | Segment                 2    
Operating Revenues $ 7,212 $ 7,994 $ 6,578 $ 7,276 $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 29,060 $ 28,768 $ 24,621
Duke Energy Progress                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 $ 6,488 6,753 5,780
Duke Energy Ohio                      
Segment Reporting Information [Line Items]                      
Number of reportable segments | segment                 2    
Operating Revenues                 $ 2,507 $ 2,514 $ 2,037
v3.24.0.1
Business Segments (Schedule of Revenue, By Products and Services) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]                      
Operating Revenues $ 7,212 $ 7,994 $ 6,578 $ 7,276 $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 29,060 $ 28,768 $ 24,621
Total Reportable Segments                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 29,023 28,738 24,592
Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 26,846 25,990 22,570
Gas Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 2,177 2,748 2,022
Operating Segments | Total Reportable Segments                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 29,187 28,864 24,715
Operating Segments | Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 26,921 26,024 22,603
Operating Segments | Gas Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 2,266 2,840 2,112
Operating Segments | Retail Electric                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 23,484 22,036 19,410
Operating Segments | Retail Electric | Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 23,484 22,036 19,410
Operating Segments | Wholesale Electric                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 2,193 2,882 2,216
Operating Segments | Wholesale Electric | Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 2,193 2,882 2,216
Operating Segments | Retail Natural Gas                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 2,199 2,535 2,025
Operating Segments | Retail Natural Gas | Gas Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 2,199 2,535 2,025
Operating Segments | Other                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 1,311 1,411 1,064
Operating Segments | Other | Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 1,244 1,106 977
Operating Segments | Other | Gas Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Operating Revenues                 $ 67 $ 305 $ 87
v3.24.0.1
Regulatory Matters (Schedule of Regulatory Assets and Liabilities) (Details) - USD ($)
$ in Millions
Jan. 31, 2024
Dec. 31, 2023
Aug. 31, 2023
Jun. 30, 2023
May 31, 2023
Mar. 06, 2023
Feb. 28, 2023
Dec. 31, 2022
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   $ 17,266           $ 18,130
Less: Current portion   3,648           3,485
Total noncurrent regulatory assets   13,618           14,645
Total regulatory liabilities   15,408           15,048
Less: Current portion   1,369           1,466
Total noncurrent regulatory liabilities   14,039           13,582
Net regulatory liability related to income taxes                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   5,901           6,462
COR regulatory liability                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   5,497           5,151
AROs – nuclear and other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   1,673           1,038
Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   443           683
Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   266           211
Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   137           35
DSM/EE                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   89           88
DOE Settlement                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   32           154
Provision for rate refunds                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   15           78
Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   1,355           1,148
AROs – coal ash                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   3,214           3,205
AROs – nuclear and other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   1,179           945
Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   2,486           3,866
Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   2,389           2,336
Storm cost securitized balance, net                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   890           940
Nuclear asset securitized balance, net                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   830           881
Debt fair value adjustment                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   774           829
Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   749           378
Storm cost deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   407           687
COR regulatory asset                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   371           221
Post-in-service carrying costs (PISCC) and deferred operating expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   357           359
Retired generation facilities                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   275           316
Deferred asset – Lee and Harris COLA                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   252           288
Customer connect project                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   251           271
Advanced metering infrastructure (AMI)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   243           283
Incremental COVID-19 expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   237           210
Vacation accrual                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   228           222
Grid Deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   210           136
Demand side management (DSM)/Energy efficiency (EE)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   201           189
CEP deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   193           190
NCEMPA deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   172           157
Derivatives – natural gas supply contracts                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   147           168
Deferred pipeline integrity costs                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   133           121
Nuclear deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   131           154
COR settlement                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   115           120
Decoupling                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   115           42
Deferred coal ash handling system costs                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   86           92
Qualifying facility contract buyouts                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   68           81
Network Integration Transmission Services deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   31           23
Transmission expansion obligation                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   30           31
East Bend deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   28           33
Propane caverns                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   26           26
Tennessee ARM Deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   20           3
Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   428           327
Progress Energy                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   8,091           8,979
Less: Current portion   1,661           1,833
Total noncurrent regulatory assets   6,430           7,146
Total regulatory liabilities   5,501           5,329
Less: Current portion   418           576
Total noncurrent regulatory liabilities   5,083           4,753
Progress Energy | Net regulatory liability related to income taxes                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   2,008           2,192
Progress Energy | COR regulatory liability                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   2,805           2,269
Progress Energy | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   208           252
Progress Energy | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   14            
Progress Energy | DOE Settlement                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   32           154
Progress Energy | Provision for rate refunds                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   4           28
Progress Energy | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   430           434
Progress Energy | AROs – coal ash                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   1,230           1,429
Progress Energy | AROs – nuclear and other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   1,127           884
Progress Energy | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   1,173           2,060
Progress Energy | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   757           759
Progress Energy | Storm cost securitized balance, net                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   682           720
Progress Energy | Nuclear asset securitized balance, net                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   830           881
Progress Energy | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   323           128
Progress Energy | Storm cost deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   298           559
Progress Energy | COR regulatory asset                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   337           221
Progress Energy | Post-in-service carrying costs (PISCC) and deferred operating expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   42           42
Progress Energy | Retired generation facilities                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   220           243
Progress Energy | Deferred asset – Lee and Harris COLA                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   15           21
Progress Energy | Customer connect project                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   125           136
Progress Energy | Advanced metering infrastructure (AMI)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   92           111
Progress Energy | Incremental COVID-19 expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   80           78
Progress Energy | Vacation accrual                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   43           43
Progress Energy | Grid Deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   51           40
Progress Energy | Demand side management (DSM)/Energy efficiency (EE)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   191           188
Progress Energy | NCEMPA deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   172           157
Progress Energy | Nuclear deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   42           64
Progress Energy | COR settlement                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   30           32
Progress Energy | Decoupling                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   15            
Progress Energy | Deferred coal ash handling system costs                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   21           25
Progress Energy | Qualifying facility contract buyouts                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   68           81
Progress Energy | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   127           77
Duke Energy Carolinas                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   5,480           5,388
Less: Current portion   1,564           1,095
Total noncurrent regulatory assets   3,916           4,293
Total regulatory liabilities   6,577           6,313
Less: Current portion   587           530
Total noncurrent regulatory liabilities   5,990           5,783
Duke Energy Carolinas | Net regulatory liability related to income taxes                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   2,200           2,475
Duke Energy Carolinas | COR regulatory liability                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   1,641           1,769
Duke Energy Carolinas | AROs – nuclear and other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   1,673           1,038
Duke Energy Carolinas | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   158           350
Duke Energy Carolinas | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   106           44
Duke Energy Carolinas | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   85            
Duke Energy Carolinas | DSM/EE                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   87           86
Duke Energy Carolinas | Provision for rate refunds                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   11           50
Duke Energy Carolinas | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   616           501
Duke Energy Carolinas | AROs – coal ash                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   1,559           1,391
Duke Energy Carolinas | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   1,293           1,614
Duke Energy Carolinas | Deferred fuel and purchased power | NCUC                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets             $ 998  
Duke Energy Carolinas | Deferred fuel and purchased power | PSCSC                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets     $ 310          
Duke Energy Carolinas | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   671           614
Duke Energy Carolinas | Storm cost securitized balance, net                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   208           220
Duke Energy Carolinas | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   405           228
Duke Energy Carolinas | Storm cost deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   97           114
Duke Energy Carolinas | Post-in-service carrying costs (PISCC) and deferred operating expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   48           47
Duke Energy Carolinas | Retired generation facilities                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   26           39
Duke Energy Carolinas | Deferred asset – Lee and Harris COLA                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   237           267
Duke Energy Carolinas | Customer connect project                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   58           62
Duke Energy Carolinas | Advanced metering infrastructure (AMI)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   125           139
Duke Energy Carolinas | Incremental COVID-19 expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   152           127
Duke Energy Carolinas | Vacation accrual                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   87           84
Duke Energy Carolinas | Grid Deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   159           96
Duke Energy Carolinas | Nuclear deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   89           90
Duke Energy Carolinas | COR settlement                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   85           88
Duke Energy Carolinas | Deferred coal ash handling system costs                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   65           67
Duke Energy Carolinas | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   116           101
Duke Energy Progress                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   5,488           5,414
Less: Current portion   942           690
Total noncurrent regulatory assets   4,546           4,724
Total regulatory liabilities   4,675           4,452
Less: Current portion   300           332
Total noncurrent regulatory liabilities   4,375           4,120
Duke Energy Progress | Net regulatory liability related to income taxes                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   1,420           1,559
Duke Energy Progress | COR regulatory liability                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   2,805           2,269
Duke Energy Progress | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   87           252
Duke Energy Progress | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   14            
Duke Energy Progress | Provision for rate refunds                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   4           28
Duke Energy Progress | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   345           344
Duke Energy Progress | AROs – coal ash                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   1,218           1,418
Duke Energy Progress | AROs – nuclear and other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   1,110           869
Duke Energy Progress | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   579           705
Duke Energy Progress | Deferred fuel and purchased power | NCUC                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets       $ 445        
Duke Energy Progress | Deferred fuel and purchased power | PSCSC                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets         $ 79      
Duke Energy Progress | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   408           417
Duke Energy Progress | Storm cost securitized balance, net                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   682           720
Duke Energy Progress | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   260           55
Duke Energy Progress | Storm cost deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   228           234
Duke Energy Progress | Post-in-service carrying costs (PISCC) and deferred operating expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   42           42
Duke Energy Progress | Retired generation facilities                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   126           149
Duke Energy Progress | Deferred asset – Lee and Harris COLA                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   15           21
Duke Energy Progress | Customer connect project                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   49           54
Duke Energy Progress | Advanced metering infrastructure (AMI)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   68           81
Duke Energy Progress | Incremental COVID-19 expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   80           78
Duke Energy Progress | Vacation accrual                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   43           43
Duke Energy Progress | Grid Deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   51           40
Duke Energy Progress | Demand side management (DSM)/Energy efficiency (EE)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   182           180
Duke Energy Progress | NCEMPA deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   172           157
Duke Energy Progress | Nuclear deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   42           64
Duke Energy Progress | COR settlement                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   30           32
Duke Energy Progress | Decoupling                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   15            
Duke Energy Progress | Deferred coal ash handling system costs                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   21           25
Duke Energy Progress | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   67           30
Duke Energy Florida                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   2,603           3,565
Less: Current portion   720           1,143
Total noncurrent regulatory assets   1,883           2,422
Total regulatory liabilities   826           877
Less: Current portion   118           244
Total noncurrent regulatory liabilities   708           633
Duke Energy Florida | Net regulatory liability related to income taxes                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   588           633
Duke Energy Florida | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   121            
Duke Energy Florida | DOE Settlement                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   32           154
Duke Energy Florida | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   85           90
Duke Energy Florida | AROs – coal ash                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   12           11
Duke Energy Florida | AROs – nuclear and other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   17           15
Duke Energy Florida | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   594           1,355
Duke Energy Florida | Deferred fuel and purchased power | FPSC                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets           $ 469   1,200
Duke Energy Florida | Deferred fuel and purchased power | FPSC | Subsequent Event                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets $ 120              
Duke Energy Florida | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   349           342
Duke Energy Florida | Nuclear asset securitized balance, net                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   830           881
Duke Energy Florida | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   63           73
Duke Energy Florida | Storm cost deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   70           325
Duke Energy Florida | COR regulatory asset                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   337           221
Duke Energy Florida | Retired generation facilities                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   94           94
Duke Energy Florida | Customer connect project                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   76           82
Duke Energy Florida | Advanced metering infrastructure (AMI)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   24           30
Duke Energy Florida | Qualifying facility contract buyouts                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   68           81
Duke Energy Florida | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   69           55
Duke Energy Ohio                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   749           684
Less: Current portion   73           103
Total noncurrent regulatory assets   676           581
Total regulatory liabilities   553           633
Less: Current portion   56           99
Total noncurrent regulatory liabilities   497           534
Duke Energy Ohio | Net regulatory liability related to income taxes                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   466           496
Duke Energy Ohio | COR regulatory liability                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities               9
Duke Energy Ohio | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   17           21
Duke Energy Ohio | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   15           35
Duke Energy Ohio | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   55           72
Duke Energy Ohio | AROs – coal ash                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   17            
Duke Energy Ohio | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   20           54
Duke Energy Ohio | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   123           129
Duke Energy Ohio | Storm cost deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   12           14
Duke Energy Ohio | COR regulatory asset                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   34            
Duke Energy Ohio | Post-in-service carrying costs (PISCC) and deferred operating expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   15           15
Duke Energy Ohio | Customer connect project                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   49           54
Duke Energy Ohio | Advanced metering infrastructure (AMI)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   13           18
Duke Energy Ohio | CEP deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   193           190
Duke Energy Ohio | Deferred pipeline integrity costs                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   30           28
Duke Energy Ohio | Deferred coal ash handling system costs                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   25            
Duke Energy Ohio | Network Integration Transmission Services deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   31           23
Duke Energy Ohio | Transmission expansion obligation                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   30           31
Duke Energy Ohio | East Bend deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   28           33
Duke Energy Ohio | Propane caverns                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   26           26
Duke Energy Ohio | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   103           69
Duke Energy Indiana                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   996           1,124
Less: Current portion   102           249
Total noncurrent regulatory assets   894           875
Total regulatory liabilities   1,668           1,641
Less: Current portion   209           187
Total noncurrent regulatory liabilities   1,459           1,454
Duke Energy Indiana | Net regulatory liability related to income taxes                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   794           840
Duke Energy Indiana | COR regulatory liability                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   496           531
Duke Energy Indiana | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   77           81
Duke Energy Indiana | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   109           104
Duke Energy Indiana | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   23            
Duke Energy Indiana | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   169           85
Duke Energy Indiana | AROs – coal ash                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   408           385
Duke Energy Indiana | Deferred fuel and purchased power                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets               138
Duke Energy Indiana | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   208           214
Duke Energy Indiana | Hedge costs deferrals                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   19           20
Duke Energy Indiana | Post-in-service carrying costs (PISCC) and deferred operating expenses                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   252           255
Duke Energy Indiana | Retired generation facilities                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   29           34
Duke Energy Indiana | Customer connect project                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   19           19
Duke Energy Indiana | Advanced metering infrastructure (AMI)                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   13           15
Duke Energy Indiana | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   48           44
Piedmont                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   571           511
Less: Current portion   161           119
Total noncurrent regulatory assets   410           392
Total regulatory liabilities   1,086           1,098
Less: Current portion   98           74
Total noncurrent regulatory liabilities   988           1,024
Piedmont | Net regulatory liability related to income taxes                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   433           459
Piedmont | COR regulatory liability                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   555           573
Piedmont | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory liabilities   98           66
Piedmont | AROs – nuclear and other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   26           27
Piedmont | Accrued pension and OPEB                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   129           119
Piedmont | Vacation accrual                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   13           12
Piedmont | Derivatives – natural gas supply contracts                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   147           168
Piedmont | Deferred pipeline integrity costs                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   103           93
Piedmont | Decoupling                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   75           42
Piedmont | Tennessee ARM Deferral                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   20           3
Piedmont | Other                
Regulatory Assets Liabilities [Line Items]                
Total regulatory assets   $ 58           $ 47
v3.24.0.1
Regulatory Matters (Duke Energy Narrative) (Details)
customer in Thousands, $ in Millions
 12 Months Ended
Sep. 27, 2021
contention
Jul. 28, 2021
Jun. 07, 2021
Jun. 06, 2021
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Oct. 31, 2022
customer
Public Utilities, General Disclosures [Line Items]                
Capital expenditures         $ 12,622 $ 11,419 $ 9,752  
Operation, maintenance and other         5,625 5,734 5,703  
Regulatory assets         17,266 18,130    
Other Noncurrent Assets: Regulatory assets         $ 13,618 14,645    
Nuclear Regulatory Commission                
Public Utilities, General Disclosures [Line Items]                
Operating license extension (in years)         20 years      
Duke Energy Ohio                
Public Utilities, General Disclosures [Line Items]                
Limit of total capital (as a percent)         30.00%      
Capital expenditures         $ 939 850 848  
Operation, maintenance and other         478 523 479  
Regulatory assets         749 684    
Other Noncurrent Assets: Regulatory assets         $ 676 581    
Duke Energy Kentucky                
Public Utilities, General Disclosures [Line Items]                
Required minimum equity capital structure (as a percent)         35.00%      
Duke Energy Carolinas and Duke Energy Progress | Natural Disasters and Other Casualty Events                
Public Utilities, General Disclosures [Line Items]                
Number of customers impacted | customer               950
Other Noncurrent Assets: Regulatory assets         $ 87      
Duke Energy Carolinas and Duke Energy Progress | Natural Disasters and Other Casualty Events | Minimum                
Public Utilities, General Disclosures [Line Items]                
Storm costs incurred         95      
Capital expenditures         8      
Duke Energy Carolinas                
Public Utilities, General Disclosures [Line Items]                
Operation, maintenance and other         1,774 1,892 1,833  
Regulatory assets         5,480 5,388    
Other Noncurrent Assets: Regulatory assets         3,916 4,293    
Duke Energy Carolinas | Oconee Nuclear Station Subsequent License Renewal | Nuclear Regulatory Commission                
Public Utilities, General Disclosures [Line Items]                
Comment period (in years)   60 days            
Number of contentions | contention 3              
Duke Energy Carolinas | Oconee Nuclear Station Subsequent License Renewal | Nuclear Regulatory Commission | Oconee                
Public Utilities, General Disclosures [Line Items]                
Operating license extension (in years)     20 years          
Operating license (in years)     80 years 60 years        
Duke Energy Carolinas | Natural Disasters and Other Casualty Events                
Public Utilities, General Disclosures [Line Items]                
Other Noncurrent Assets: Regulatory assets         32      
Duke Energy Progress                
Public Utilities, General Disclosures [Line Items]                
Operation, maintenance and other         1,379 1,475 $ 1,467  
Regulatory assets         5,488 5,414    
Other Noncurrent Assets: Regulatory assets         $ 4,546 4,724    
Duke Energy Progress | Natural Disasters and Other Casualty Events                
Public Utilities, General Disclosures [Line Items]                
Other Noncurrent Assets: Regulatory assets           $ 55    
v3.24.0.1
Regulatory Matters (Duke Energy Carolinas Narrative) (Details) - USD ($)
$ in Millions
 11 Months Ended 12 Months Ended 24 Months Ended
Jan. 04, 2024
Dec. 15, 2023
Aug. 22, 2023
Dec. 31, 2026
Dec. 14, 2027
Dec. 14, 2026
Jan. 18, 2026
Dec. 14, 2025
Jan. 18, 2025
Dec. 14, 2024
Jan. 18, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jan. 03, 2028
Jan. 03, 2026
Public Utilities, General Disclosures [Line Items]                                
Impairment of assets and other charges                       $ 85 $ 434 $ 353    
Operation, maintenance and other                       5,625 5,734 5,703    
Duke Energy Carolinas                                
Public Utilities, General Disclosures [Line Items]                                
Impairment of assets and other charges                       44 26 227    
Operation, maintenance and other                       1,774 $ 1,892 $ 1,833    
2023 North Carolina Rate Case | NCUC | Duke Energy Carolinas                                
Public Utilities, General Disclosures [Line Items]                                
MYRP period (in years)     3 years                          
Settlement amount     $ 19,500                          
Impairment of assets and other charges                       29        
Operation, maintenance and other                       $ 8        
Approved return on equity (as a percent)   10.10%                            
2023 North Carolina Rate Case | NCUC | Duke Energy Carolinas | Equity                                
Public Utilities, General Disclosures [Line Items]                                
Approved return on equity (as a percent)   53.00%                            
2023 North Carolina Rate Case | NCUC | Duke Energy Carolinas | Debt                                
Public Utilities, General Disclosures [Line Items]                                
Approved return on equity (as a percent)   47.00%                            
2023 North Carolina Rate Case | NCUC | Duke Energy Carolinas | Forecast                                
Public Utilities, General Disclosures [Line Items]                                
Requested rate increase (decrease)       $ 823     $ 150   $ 172              
Requested return on equity (as a percent)       15.70%                        
Approved rate increase (decrease) amount by state commission         $ 768 $ 158   $ 174                
2023 North Carolina Rate Case | NCUC | Duke Energy Carolinas | Forecast | Subsequent Event                                
Public Utilities, General Disclosures [Line Items]                                
Requested rate increase (decrease)                     $ 501          
Approved rate increase (decrease) amount by state commission                   $ 436            
2023 North Carolina Rate Case, Retail Allocated | NCUC | Duke Energy Carolinas                                
Public Utilities, General Disclosures [Line Items]                                
Settlement amount     $ 4,600                          
2024 South Carolina Rate Case | PSCSC | Duke Energy Carolinas | Subsequent Event                                
Public Utilities, General Disclosures [Line Items]                                
Requested rate increase (decrease) $ 323                              
Requested rate increase (decrease), percent 15.50%                              
2024 South Carolina Rate Case | PSCSC | Duke Energy Carolinas | Forecast                                
Public Utilities, General Disclosures [Line Items]                                
Requested rate increase (decrease), net of tax (as a percent)                             4.10%  
Requested rate increase (decrease), amended, amount                             $ 84  
2024 South Carolina Rate Case | PSCSC | Duke Energy Carolinas | Forecast | Subsequent Event                                
Public Utilities, General Disclosures [Line Items]                                
Requested rate increase (decrease), net of tax (as a percent)                               11.40%
Requested rate increase (decrease), amended, amount                               $ 239
v3.24.0.1
Regulatory Matters (Duke Energy Progress Narrative) (Details) - USD ($)
$ in Millions
 7 Months Ended 12 Months Ended
Aug. 18, 2023
May 31, 2023
Apr. 16, 2023
Oct. 06, 2022
Sep. 01, 2022
Dec. 31, 2025
Aug. 17, 2027
Aug. 17, 2026
May 31, 2026
Aug. 17, 2025
May 31, 2025
Aug. 17, 2024
May 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Public Utilities, General Disclosures [Line Items]                                
Impairment of assets and other charges                           $ 85 $ 434 $ 353
Operation, maintenance and other                           5,625 5,734 5,703
Duke Energy Progress                                
Public Utilities, General Disclosures [Line Items]                                
Impairment of assets and other charges                           29 7 63
Operation, maintenance and other                           1,379 $ 1,475 $ 1,467
2022 North Carolina Rate Case | NCUC | Duke Energy Progress                                
Public Utilities, General Disclosures [Line Items]                                
Proposed rate period (in years)     3 years 3 years                        
Settlement amount $ 12,200                              
MYRP period (in years) 3 years                              
Approved return on equity (as a percent) 9.80%                              
Impairment of assets and other charges                           28    
Operation, maintenance and other                           $ 8    
2022 North Carolina Rate Case | NCUC | Duke Energy Progress | Equity                                
Public Utilities, General Disclosures [Line Items]                                
Approved return on equity (as a percent) 53.00%                              
2022 North Carolina Rate Case | NCUC | Duke Energy Progress | Debt                                
Public Utilities, General Disclosures [Line Items]                                
Approved return on equity (as a percent) 47.00%                              
2022 North Carolina Rate Case | NCUC | Duke Energy Progress | Forecast                                
Public Utilities, General Disclosures [Line Items]                                
Requested rate increase (decrease)           $ 615     $ 138   $ 151   $ 326      
Approved rate increase (decrease) amount by state commission             $ 494 $ 135   $ 126            
2022 North Carolina Rate Case | NCUC | Duke Energy Progress | Forecast | Subsequent Event                                
Public Utilities, General Disclosures [Line Items]                                
Approved rate increase (decrease) amount by state commission                       $ 233        
2022 North Carolina Rate Case, Retail Allocated | NCUC | Duke Energy Progress                                
Public Utilities, General Disclosures [Line Items]                                
Settlement amount $ 3,500                              
2023 South Carolina Storm Securitization | Duke Energy Progress                                
Public Utilities, General Disclosures [Line Items]                                
Public Utilities, Storm Costs   $ 171                            
2022 South Carolina Rate Case | PSCSC | Duke Energy Progress                                
Public Utilities, General Disclosures [Line Items]                                
Approved rate increase (decrease) amount by state commission         $ 52                      
2022 South Carolina Rate Case, Retail Rate Case | PSCSC | Duke Energy Progress                                
Public Utilities, General Disclosures [Line Items]                                
Approved rate increase (decrease) amount by state commission         $ 36                      
Approved return on equity (as a percent)         9.60%                      
Deferred compliance costs period (in years)         33 months                      
2022 South Carolina Rate Case, Retail Rate Case | PSCSC | Duke Energy Progress | Equity                                
Public Utilities, General Disclosures [Line Items]                                
Approved return on equity (as a percent)         52.43%                      
2022 South Carolina Rate Case, Retail Rate Case | PSCSC | Duke Energy Progress | Debt                                
Public Utilities, General Disclosures [Line Items]                                
Approved return on equity (as a percent)         47.57%                      
2022 South Carolina Rate Case, Coal Ash Basin Closure Costs | PSCSC | Duke Energy Progress                                
Public Utilities, General Disclosures [Line Items]                                
Deferred compliance costs period (in years)         7 years                      
Deferred costs not recovering         $ 50                      
v3.24.0.1
Regulatory Matters (Duke Energy Florida Narrative) (Details)
 1 Months Ended 12 Months Ended
Oct. 16, 2023
USD ($)
Jan. 23, 2023
USD ($)
Oct. 17, 2022
USD ($)
Oct. 04, 2022
USD ($)
Jun. 15, 2022
USD ($)
Jan. 14, 2021
USD ($)
Jul. 01, 2020
USD ($)
plant
MW
Jan. 31, 2024
Dec. 31, 2027
USD ($)
Dec. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Sep. 29, 2023
USD ($)
Aug. 30, 2023
outage
Dec. 31, 2022
USD ($)
Sep. 28, 2022
outage
Sep. 27, 2022
USD ($)
Apr. 11, 2022
USD ($)
May 04, 2021
USD ($)
Hurricane Ian                                        
Public Utilities, General Disclosures [Line Items]                                        
Actual storm costs                           $ 431,000,000            
Duke Energy Florida | Solar Plant                                        
Public Utilities, General Disclosures [Line Items]                                        
Estimated cost of generation facilities to be built             $ 1,000,000,000                          
Duke Energy Florida | FPSC                                        
Public Utilities, General Disclosures [Line Items]                                        
Number of solar plants petition for approval | plant             10                          
Solar generation capacity plants (in MW) | MW             750                          
Duke Energy Florida | FPSC | Natural Disasters and Other Casualty Events                                        
Public Utilities, General Disclosures [Line Items]                                        
Number of outages | outage                                 1,100,000      
Deferred storm coats                         $ 353,000,000              
Storm reserves                               $ 132,000,000   $ 107,000,000    
Expected recovery payments to be received   $ 442,000,000                                    
Duke Energy Florida | 2021 Settlement | FPSC                                        
Public Utilities, General Disclosures [Line Items]                                        
Approved capital structure (as a percent)           53.00%                            
Approved debt structure (as a percent)           47.00%                            
Public utilities, basis points, increase           0.25%                            
Contract asset, noncurrent         $ 154,000,000 $ 173,000,000             141,000,000             $ 173,000,000
Proceeds from legal settlements         $ 180,000,000                              
Requested rate increase (decrease)     $ 56,000,000                                  
Future investments in new cost           $ 1,000,000,000                            
Duke Energy Florida | 2021 Settlement | FPSC | Forecast                                        
Public Utilities, General Disclosures [Line Items]                                        
Contract asset, noncurrent                       $ 32,000,000                
Duke Energy Florida | 2021 Settlement | FPSC | US Treasury Securities                                        
Public Utilities, General Disclosures [Line Items]                                        
Public utilities, basis points, increase           0.50%                            
Duke Energy Florida | 2021 Settlement | FPSC | Minimum                                        
Public Utilities, General Disclosures [Line Items]                                        
Approved return on equity (as a percent)           8.85%                            
Duke Energy Florida | 2021 Settlement | FPSC | Minimum | US Treasury Securities                                        
Public Utilities, General Disclosures [Line Items]                                        
Approved return on equity (as a percent)           9.85%                            
Duke Energy Florida | 2021 Settlement | FPSC | Maximum                                        
Public Utilities, General Disclosures [Line Items]                                        
Approved return on equity (as a percent)           10.85%                            
Duke Energy Florida | 2021 Settlement | FPSC | Maximum | US Treasury Securities                                        
Public Utilities, General Disclosures [Line Items]                                        
Approved return on equity (as a percent)           10.10%                            
Duke Energy Florida | 2021 Settlement | FPSC | Weighted Average                                        
Public Utilities, General Disclosures [Line Items]                                        
Approved return on equity (as a percent)           9.85%                            
Duke Energy Florida | 2021 Settlement | FPSC | Subsequent Event                                        
Public Utilities, General Disclosures [Line Items]                                        
Approved rate increase (decrease) amount by state commission                   $ 79,000,000 $ 49,000,000 $ 67,000,000                
Duke Energy Florida | Storm Protection Plan | FPSC                                        
Public Utilities, General Disclosures [Line Items]                                        
Investment in transmission and distribution                                     $ 7,000,000,000  
Cost reduction to transmission loop       $ 80,000,000                                
Cost reduction period (in years)       10 years                                
Duke Energy Florida | Hurricane Idalia | FPSC | Natural Disasters and Other Casualty Events                                        
Public Utilities, General Disclosures [Line Items]                                        
Deferred storm coats                         $ 102,000,000              
Number of customers impacted | outage                             200,000          
Interim recovery payments $ 166,000,000                                      
Duke Energy Florida | Hurricane Idalia, Retail Portion | FPSC | Natural Disasters and Other Casualty Events                                        
Public Utilities, General Disclosures [Line Items]                                        
Interim recovery payments 92,000,000                                      
Duke Energy Florida | Hurricane Idalia, Projected Costs | FPSC | Natural Disasters and Other Casualty Events                                        
Public Utilities, General Disclosures [Line Items]                                        
Interim recovery payments $ 74,000,000                                      
Duke Energy Florida | 2022 North Carolina Rate Case | FPSC | Subsequent Event                                        
Public Utilities, General Disclosures [Line Items]                                        
Requested rate increase (decrease), percent               4.00%                        
Duke Energy Florida | 2022 North Carolina Rate Case | FPSC | Subsequent Event | Forecast                                        
Public Utilities, General Disclosures [Line Items]                                        
Requested rate increase (decrease)                 $ (127,000,000) $ (95,000,000) $ (596,000,000)                  
v3.24.0.1
Regulatory Matters (Duke Energy Ohio Narrative) (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Oct. 12, 2023
USD ($)
Apr. 28, 2023
USD ($)
Dec. 01, 2022
USD ($)
Sep. 19, 2022
USD ($)
Jul. 14, 2022
USD ($)
Oct. 01, 2021
USD ($)
Dec. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
site
Dec. 31, 2021
USD ($)
Apr. 27, 2022
USD ($)
Public Utilities, General Disclosures [Line Items]                                    
Operating Revenues             $ 7,212 $ 7,994 $ 6,578 $ 7,276 $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 29,060 $ 28,768 $ 24,621  
Operation, maintenance and other                             5,625 5,734 5,703  
Income tax expense (benefit)                             (438) (300) (268)  
Public utilities, property, plant and equipment, net             115,315       111,748       115,315 111,748    
Impairment of assets and other charges                             (85) (434) (353)  
Duke Energy Ohio                                    
Public Utilities, General Disclosures [Line Items]                                    
Operating Revenues                             2,507 2,514 2,037  
Operation, maintenance and other                             478 523 479  
Income tax expense (benefit)                             (63) 21 (30)  
Public utilities, property, plant and equipment, net             $ 9,759       $ 9,247       9,759 9,247    
Impairment of assets and other charges                             (3) $ 10 (25)  
Duke Energy Ohio | Duke Energy Ohio Electric Base Rate Case | Public Utilities Commission Of Ohio                                    
Public Utilities, General Disclosures [Line Items]                                    
Requested rate increase (decrease)           $ 55                        
Approved rate increase (decrease) amount by state commission       $ 23                            
Approved return on equity (as a percent)       9.50%                            
Duke Energy Ohio | Energy Efficiency Cost Recovery | Public Utilities Commission Of Ohio                                    
Public Utilities, General Disclosures [Line Items]                                    
Regulated electric revenue                             $ 14      
Duke Energy Ohio | Duke Energy Ohio Gas Base Rate Case | Public Utilities Commission Of Ohio                                    
Public Utilities, General Disclosures [Line Items]                                    
Requested rate increase (decrease)   $ 32     $ 49                          
Requested return on equity (as a percent)   9.60%                                
Duke Energy Ohio | Duke Energy Ohio Gas Base Rate Case | Public Utilities Commission Of Ohio | Maximum                                    
Public Utilities, General Disclosures [Line Items]                                    
Equity ratio (as a percent)   52.32%                                
Duke Energy Ohio | MGP Cost Recovery - 2009 Through 2012 | Public Utilities Commission Of Ohio                                    
Public Utilities, General Disclosures [Line Items]                                    
Number of environmental remediation sites | site                               2    
Duke Energy Ohio | MGP Cost Recovery - 2013 Through 2019 | Public Utilities Commission Of Ohio                                    
Public Utilities, General Disclosures [Line Items]                                    
Operating Revenues                               $ 15    
Operation, maintenance and other                               58    
Income tax expense (benefit)                               72    
Duke Energy Ohio | Midwest Propane Caverns [Member]                                    
Public Utilities, General Disclosures [Line Items]                                    
Asset impairment charges                                 $ 19  
Public utilities, property, plant and equipment, net                                   $ 7
Impairment of assets and other charges                               $ 12    
Duke Energy Ohio | Duke Energy Kentucky Electric Base Rate Case | KPSC                                    
Public Utilities, General Disclosures [Line Items]                                    
Requested rate increase (decrease)     $ 75                              
Approved rate increase (decrease) amount by state commission $ 48                                  
Duke Energy Ohio | Duke Energy Kentucky Electric Base Rate Case | KPSC | Maximum                                    
Public Utilities, General Disclosures [Line Items]                                    
Equity ratio (as a percent) 52.145%                                  
Duke Energy Ohio | Duke Energy Kentucky Electric Base Rate Case, Electric Base Rates | KPSC                                    
Public Utilities, General Disclosures [Line Items]                                    
Approved return on equity (as a percent) 9.75%                                  
Duke Energy Ohio | Duke Energy Kentucky Electric Base Rate Case, Electric Riders | KPSC                                    
Public Utilities, General Disclosures [Line Items]                                    
Approved return on equity (as a percent) 9.65%                                  
v3.24.0.1
Regulatory Matters (Duke Energy Indiana Narrative) (Details) - USD ($)
 3 Months Ended 12 Months Ended
Jun. 29, 2020
Dec. 04, 2019
Jul. 02, 2019
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Sep. 20, 2023
Feb. 03, 2023
Jun. 15, 2022
Dec. 31, 2020
Public Utilities, General Disclosures [Line Items]                                    
Impairment of assets and other charges                       $ 85,000,000 $ 434,000,000 $ 353,000,000        
Operating Revenues       $ 7,212,000,000 $ 7,994,000,000 $ 6,578,000,000 $ 7,276,000,000 $ 7,351,000,000 $ 7,842,000,000 $ 6,564,000,000 $ 7,011,000,000 29,060,000,000 28,768,000,000 24,621,000,000        
Duke Energy Indiana                                    
Public Utilities, General Disclosures [Line Items]                                    
Impairment of assets and other charges                         388,000,000 9,000,000        
Operating Revenues                       $ 3,399,000,000 3,922,000,000 $ 3,174,000,000        
Duke Energy Indiana | Indiana Rate Case 2019 | Indiana Utility Regulatory Commission                                    
Public Utilities, General Disclosures [Line Items]                                    
Requested rate increase (decrease)     $ 395,000,000                              
Requested rate increase (decrease), net of tax (as a percent)   15.60%                                
Requested rate increase (decrease), amended, amount   $ 396,000,000                                
Approved rate increase (decrease) amount by state commission $ 146,000,000                                  
Disclosure of rate matters, rate base                                   $ 10,200,000,000
Public utilities, disclosure of rate matters, reduction of rate base $ 200,000,000                                  
Public utilities, approved return on equity, step one estimated percentage (as a percent) 75.00%                                  
Public utilities, approved return on equity, step two estimated (as a percent) 25.00%                                  
Impairment of assets and other charges                         211,000,000          
Operating Revenues                         46,000,000          
Refunds to customers           $ 70,000,000                   $ 70,000,000    
Duke Energy Indiana | Indiana Coal Ash Recovery | Indiana Utility Regulatory Commission                                    
Public Utilities, General Disclosures [Line Items]                                    
Impairment of assets and other charges                         $ 175,000,000          
Simple interest of refunds (as a percent)                             4.71%      
Duke Energy Indiana | TDSIG 2.0 | Indiana Utility Regulatory Commission                                    
Public Utilities, General Disclosures [Line Items]                                    
Future investments in new cost                                 $ 2,000,000,000  
v3.24.0.1
Regulatory Matters (Piedmont Narrative) (Details) - Piedmont - Tennessee Annual Review Mechanism - TPUC - USD ($)
$ in Millions
Sep. 11, 2023
May 19, 2023
Oct. 10, 2022
Public Utilities, General Disclosures [Line Items]      
Requested rate increase (decrease) $ 29 $ 42  
Approved return on equity (as a percent)     9.80%
Approved rate decrease amount by state commission (40)    
Reconciliation cost of service $ 11    
v3.24.0.1
Regulatory Matters (Schedule of Net Carrying Value Of Facilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Public Utilities, General Disclosures [Line Items]    
Remaining net book value $ 115,315 $ 111,748
Duke Energy Carolinas    
Public Utilities, General Disclosures [Line Items]    
Remaining net book value 36,774 35,981
Duke Energy Progress    
Public Utilities, General Disclosures [Line Items]    
Remaining net book value 24,056 24,674
Duke Energy Florida    
Public Utilities, General Disclosures [Line Items]    
Remaining net book value 21,286 19,563
Duke Energy Indiana    
Public Utilities, General Disclosures [Line Items]    
Remaining net book value $ 12,399 $ 12,100
v3.24.0.1
Commitments and Contingencies (Narrative) (Details)
$ in Millions
 12 Months Ended
Aug. 11, 2021
people
Jun. 16, 2021
people
Dec. 31, 2023
USD ($)
reactor
case
Dec. 31, 2022
USD ($)
Loss Contingencies [Line Items]        
Number of licensed nuclear reactors | reactor     95  
Insured public liability limit per nuclear incident     $ 16,200.0  
Excess nuclear liability program coverage     16,200.0  
Pro rata assessment for each reactor owned for each incident exceeding public liability insurance     166.0  
Annual payment limit to pro rata assessments     24.7  
Industry aggregate limit     3,200.0  
Sublimit for non-nuclear terrorist events     1,800.0  
Sublimit property damage losses     1,500.0  
Additional nuclear accident limit     $ 1,250.0  
Accidental outage insurance coverage initial weeks (in days)     365 days  
Insurance coverage percentage initial weeks (as a percent)     100.00%  
Accidental outage insurance coverage additional weeks (in days)     770 days  
Insurance coverage percentage additional weeks (as a percent)     80.00%  
Weeks of sublimits for accidental outage coverage (in days)     728 days  
Sublimit accidental outage recovery     $ 328.0  
Maximum magnitude of retroactive premiums     10  
Maximum period for retroactive premium assessment (in years)     6 years  
Maximum | Pipeline and storage capacity contracts        
Loss Contingencies [Line Items]        
Long-term purchase commitment term (in years)     19 years  
Maximum | Natural gas supply contracts fixed payment        
Loss Contingencies [Line Items]        
Long-term purchase commitment term (in years)     2 years  
Maximum | Natural gas supply purchase commitments        
Loss Contingencies [Line Items]        
Long-term purchase commitment term (in years)     7 years  
Texas Storm Uri Tort Litigation | Pending Litigation        
Loss Contingencies [Line Items]        
Number of pending claims | case     5  
Duke Energy Carolinas        
Loss Contingencies [Line Items]        
Primary nuclear liability program coverage     $ 450.0  
Max retroactive premium assessments     147.0  
Duke Energy Carolinas | Asbestos Issue        
Loss Contingencies [Line Items]        
Asbestos-related injuries and damages reserves     423.0 $ 457.0
Loss contingency, receivable, noncurrent     572.0 595.0
Duke Energy Carolinas | Ruben Villano, et al. v. Duke Energy Carolinas, LLC | Pending Litigation        
Loss Contingencies [Line Items]        
Number of individuals | people   9    
Number of survivors | people 4 4    
Number of deceased individuals | people   5    
Duke Energy Progress        
Loss Contingencies [Line Items]        
Primary nuclear liability program coverage     450.0  
Max retroactive premium assessments     90.0  
Duke Energy Florida        
Loss Contingencies [Line Items]        
Primary nuclear liability program coverage     100.0  
Max retroactive premium assessments     1.0  
Duke Energy and Duke Energy Carolinas | ASU 2016-13        
Loss Contingencies [Line Items]        
Premium receivable, allowance for credit loss     $ 9.0 $ 12.0
Catawba | Duke Energy Carolinas        
Loss Contingencies [Line Items]        
Number of licensed nuclear reactors | reactor     2  
Dedicated additional nuclear accident limit     $ 1,250.0  
Additional Non-nuclear accident limit     750.0  
Accidental outage insurance coverage policy limit     $ 490.0  
Potential obligation percentage (as a percent)     100.00%  
McGuire | Duke Energy Carolinas        
Loss Contingencies [Line Items]        
Number of licensed nuclear reactors | reactor     2  
Oconee | Duke Energy Carolinas        
Loss Contingencies [Line Items]        
Number of licensed nuclear reactors | reactor     3  
Additional Non-nuclear accident limit     $ 750.0  
Harris | Duke Energy Progress        
Loss Contingencies [Line Items]        
Number of licensed nuclear reactors | reactor     1  
Robinson | Duke Energy Carolinas        
Loss Contingencies [Line Items]        
Accidental outage insurance coverage policy limit     $ 378.0  
Robinson | Duke Energy Progress        
Loss Contingencies [Line Items]        
Number of licensed nuclear reactors | reactor     1  
Brunswick | Duke Energy Carolinas        
Loss Contingencies [Line Items]        
Accidental outage insurance coverage policy limit     $ 462.0  
Brunswick | Duke Energy Progress        
Loss Contingencies [Line Items]        
Number of licensed nuclear reactors | reactor     2  
Crystal River Unit 3 | Duke Energy Florida        
Loss Contingencies [Line Items]        
Sublimit property damage losses     $ 50.0  
v3.24.0.1
Commitments and Contingencies (Schedule of Environmental Loss Contingencies) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Loss Contingencies [Line Items]    
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Other (includes $54 at 2023 related to VIEs) Other (includes $54 at 2023 related to VIEs)
Environmental reserves    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation $ 88 $ 84
Environmental reserves | Duke Energy Carolinas    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 23 22
Environmental reserves | Progress Energy    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 19 19
Environmental reserves | Duke Energy Progress    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 9 8
Environmental reserves | Duke Energy Florida    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 10 11
Environmental reserves | Duke Energy Ohio    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 36 33
Environmental reserves | Duke Energy Indiana    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 2 3
Environmental reserves | Piedmont    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation $ 7 $ 7
v3.24.0.1
Commitments and Contingencies (Purchased Power) (Details) - Purchased Power Contracts
$ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
Duke Energy Progress  
Unconditional Purchase Obligations [Abstract]  
2024 $ 21
2025 22
2026 18
2027 19
2028 19
Thereafter 7
Total $ 106
Duke Energy Progress | Minimum  
Unconditional Purchase Obligations [Abstract]  
Net plant output (as a percent) 18.00%
Duke Energy Progress | Maximum  
Unconditional Purchase Obligations [Abstract]  
Net plant output (as a percent) 100.00%
Duke Energy Florida  
Unconditional Purchase Obligations [Abstract]  
2024 $ 86
2025 91
Total $ 177
Net plant output (as a percent) 100.00%
Duke Energy Ohio  
Unconditional Purchase Obligations [Abstract]  
2024 $ 153
2025 98
Total 251
Duke Energy Indiana  
Unconditional Purchase Obligations [Abstract]  
2024 12
2025 20
2026 8
Total $ 40
v3.24.0.1
Commitments and Contingencies (Gas Supply Contracts) (Details) - Natural Gas Supply and Capacity Contracts
$ in Millions
Dec. 31, 2023
USD ($)
Duke Energy Ohio  
Long-term Purchase Commitment [Line Items]  
2024 $ 103
2025 87
2026 57
2027 53
2028 51
Thereafter 574
Total 925
Piedmont  
Long-term Purchase Commitment [Line Items]  
2024 295
2025 287
2026 268
2027 209
2028 186
Thereafter 373
Total $ 1,618
v3.24.0.1
Leases (Narrative) (Details) - Construction and transportation of natural gas pipelines - Piedmont - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Lessee, Lease, Description [Line Items]    
Net investment in lease, current $ 2 $ 2
Duke Energy Carolinas    
Lessee, Lease, Description [Line Items]    
Net investment in lease, noncurrent $ 199 $ 201
v3.24.0.1
Leases (Lease Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Lessee, Lease, Description [Line Items]    
Operating lease expense $ 236 $ 229
Short-term lease expense 5 4
Variable lease expense 27 61
Finance lease expense    
Amortization of leased assets 160 151
Interest on lease liabilities 46 50
Total finance lease expense 206 201
Total lease expense 474 495
Duke Energy Carolinas    
Lessee, Lease, Description [Line Items]    
Operating lease expense 41 39
Variable lease expense 2 1
Finance lease expense    
Amortization of leased assets 7 6
Interest on lease liabilities 31 32
Total finance lease expense 38 38
Total lease expense 81 76
Progress Energy    
Lessee, Lease, Description [Line Items]    
Operating lease expense 157 153
Short-term lease expense 2 1
Variable lease expense 22 60
Finance lease expense    
Amortization of leased assets 57 61
Interest on lease liabilities 45 49
Total finance lease expense 102 110
Total lease expense 283 324
Duke Energy Progress    
Lessee, Lease, Description [Line Items]    
Operating lease expense 80 83
Short-term lease expense 1  
Variable lease expense 11 37
Finance lease expense    
Amortization of leased assets 35 41
Interest on lease liabilities 43 45
Total finance lease expense 78 86
Total lease expense 170 206
Duke Energy Florida    
Lessee, Lease, Description [Line Items]    
Operating lease expense 77 70
Short-term lease expense 1 1
Variable lease expense 11 23
Finance lease expense    
Amortization of leased assets 22 20
Interest on lease liabilities 2 4
Total finance lease expense 24 24
Total lease expense 113 118
Duke Energy Ohio    
Lessee, Lease, Description [Line Items]    
Operating lease expense 11 10
Finance lease expense    
Total lease expense 11 10
Duke Energy Indiana    
Lessee, Lease, Description [Line Items]    
Operating lease expense 17 19
Short-term lease expense 1 2
Finance lease expense    
Interest on lease liabilities 1 1
Total finance lease expense 1 1
Total lease expense 19 22
Piedmont    
Lessee, Lease, Description [Line Items]    
Operating lease expense 2 6
Variable lease expense 1 1
Finance lease expense    
Total lease expense $ 3 $ 7
v3.24.0.1
Leases (Operating Lease Maturities) (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Lessee, Operating Lease, Liability, Payment, Due  
2024 $ 244
2025 214
2026 201
2027 170
2028 136
Thereafter 388
Total operating lease payments 1,353
Less: Present value discount (248)
Total operating lease liabilities 1,105
Duke Energy Carolinas  
Lessee, Operating Lease, Liability, Payment, Due  
2024 21
2025 16
2026 15
2027 9
2028 8
Thereafter 41
Total operating lease payments 110
Less: Present value discount (20)
Total operating lease liabilities 90
Progress Energy  
Lessee, Operating Lease, Liability, Payment, Due  
2024 116
2025 102
2026 105
2027 79
2028 67
Thereafter 315
Total operating lease payments 784
Less: Present value discount (146)
Total operating lease liabilities 638
Duke Energy Progress  
Lessee, Operating Lease, Liability, Payment, Due  
2024 56
2025 42
2026 46
2027 47
2028 47
Thereafter 163
Total operating lease payments 401
Less: Present value discount (63)
Total operating lease liabilities 338
Duke Energy Florida  
Lessee, Operating Lease, Liability, Payment, Due  
2024 60
2025 60
2026 59
2027 32
2028 20
Thereafter 152
Total operating lease payments 383
Less: Present value discount (83)
Total operating lease liabilities 300
Duke Energy Ohio  
Lessee, Operating Lease, Liability, Payment, Due  
2024 2
2025 2
2026 2
2027 2
2028 1
Thereafter 13
Total operating lease payments 22
Less: Present value discount (5)
Total operating lease liabilities 17
Duke Energy Indiana  
Lessee, Operating Lease, Liability, Payment, Due  
2024 7
2025 7
2026 6
2027 5
2028 4
Thereafter 39
Total operating lease payments 68
Less: Present value discount (16)
Total operating lease liabilities 52
Piedmont  
Lessee, Operating Lease, Liability, Payment, Due  
2024 5
2025 4
2026 1
Total operating lease payments 10
Total operating lease liabilities $ 10
v3.24.0.1
Leases (Finance Lease Maturities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Finance Lease, Liability, Payment, Due    
2024 $ 157  
2025 88  
2026 83  
2027 76  
2028 74  
Thereafter 511  
Total finance lease payments 989  
Less: Amounts representing interest (350)  
Total finance lease liabilities 639 $ 764
Duke Energy Carolinas    
Finance Lease, Liability, Payment, Due    
2024 38  
2025 38  
2026 38  
2027 38  
2028 38  
Thereafter 389  
Total finance lease payments 579  
Less: Amounts representing interest (302)  
Total finance lease liabilities 277 284
Progress Energy    
Finance Lease, Liability, Payment, Due    
2024 88  
2025 85  
2026 86  
2027 83  
2028 81  
Thereafter 474  
Total finance lease payments 897  
Less: Amounts representing interest (326)  
Total finance lease liabilities 571 628
Duke Energy Progress    
Finance Lease, Liability, Payment, Due    
2024 79  
2025 80  
2026 81  
2027 81  
2028 81  
Thereafter 474  
Total finance lease payments 876  
Less: Amounts representing interest (324)  
Total finance lease liabilities 552 587
Duke Energy Florida    
Finance Lease, Liability, Payment, Due    
2024 9  
2025 5  
2026 5  
2027 2  
Total finance lease payments 21  
Less: Amounts representing interest (2)  
Total finance lease liabilities 19 41
Duke Energy Indiana    
Finance Lease, Liability, Payment, Due    
2024 1  
2025 1  
2026 1  
2027 1  
2028 1  
Thereafter 21  
Total finance lease payments 26  
Less: Amounts representing interest (17)  
Total finance lease liabilities $ 9 $ 9
v3.24.0.1
Leases (Supplemental Financial Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Assets    
Operating lease right-of-use assets, net $ 1,092 $ 1,042
Net property, plant and equipment 687 810
Total lease assets 1,779 1,852
Current    
Operating 188 179
Finance 115 153
Noncurrent    
Operating 917 876
Finance 524 611
Total lease liabilities 1,744 1,819
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 228 230
Operating cash flows from finance leases 46 50
Financing cash flows from finance leases 160 151
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating 286 $ 111
Finance $ 36  
Weighted average remaining lease term (years)    
Operating leases 9 years 8 years
Finance leases 11 years 10 years
Weighted-average discount rate (as a percent)    
Operating leases 3.10% 3.40%
Finance leases 8.50% 7.70%
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Public utilities, property, plant and equipment, net Public utilities, property, plant and equipment, net
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Current Liabilities: Other Current Liabilities: Other
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] Current maturities of long-term debt Current maturities of long-term debt
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Operating lease liabilities Operating lease liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Long-Term Debt Long-Term Debt
Duke Energy Carolinas    
Assets    
Operating lease right-of-use assets, net $ 78 $ 78
Net property, plant and equipment 268 284
Total lease assets 346 362
Current    
Operating 15 14
Finance 8 7
Noncurrent    
Operating 75 83
Finance 269 277
Total lease liabilities 367 381
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 18 24
Operating cash flows from finance leases 31 32
Financing cash flows from finance leases 7 6
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 14 $ 10
Weighted average remaining lease term (years)    
Operating leases 10 years 10 years
Finance leases 16 years 17 years
Weighted-average discount rate (as a percent)    
Operating leases 4.00% 3.80%
Finance leases 11.50% 11.50%
Progress Energy    
Assets    
Operating lease right-of-use assets, net $ 617 $ 628
Net property, plant and equipment 615 674
Total lease assets 1,232 1,302
Current    
Operating 94 96
Finance 46 57
Noncurrent    
Operating 544 546
Finance 525 571
Total lease liabilities 1,209 1,270
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 123 118
Operating cash flows from finance leases 45 49
Financing cash flows from finance leases 57 $ 61
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 92  
Weighted average remaining lease term (years)    
Operating leases 10 years 8 years
Finance leases 11 years 12 years
Weighted-average discount rate (as a percent)    
Operating leases 3.80% 3.60%
Finance leases 9.10% 9.10%
Duke Energy Progress    
Assets    
Operating lease right-of-use assets, net $ 318 $ 370
Net property, plant and equipment 552 590
Total lease assets 870 960
Current    
Operating 45 51
Finance 38 35
Noncurrent    
Operating 293 335
Finance 514 552
Total lease liabilities 890 973
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 64 63
Operating cash flows from finance leases 43 45
Financing cash flows from finance leases 35 $ 41
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 1  
Weighted average remaining lease term (years)    
Operating leases 9 years 9 years
Finance leases 11 years 12 years
Weighted-average discount rate (as a percent)    
Operating leases 3.60% 3.50%
Finance leases 9.20% 9.10%
Duke Energy Florida    
Assets    
Operating lease right-of-use assets, net $ 299 $ 258
Net property, plant and equipment 63 84
Total lease assets 362 342
Current    
Operating 49 45
Finance 8 22
Noncurrent    
Operating 251 211
Finance 11 19
Total lease liabilities 319 297
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 59 55
Operating cash flows from finance leases 2 4
Financing cash flows from finance leases 22 $ 20
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 91  
Weighted average remaining lease term (years)    
Operating leases 11 years 6 years
Finance leases 18 years 12 years
Weighted-average discount rate (as a percent)    
Operating leases 4.00% 3.80%
Finance leases 7.60% 8.00%
Duke Energy Ohio    
Assets    
Operating lease right-of-use assets, net $ 16 $ 18
Total lease assets 16 18
Current    
Operating 1 1
Noncurrent    
Operating 16 17
Total lease liabilities 17 18
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 2 $ 2
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 2  
Weighted average remaining lease term (years)    
Operating leases 13 years 15 years
Weighted-average discount rate (as a percent)    
Operating leases 4.20% 4.20%
Duke Energy Indiana    
Assets    
Operating lease right-of-use assets, net $ 50 $ 49
Net property, plant and equipment 6 6
Total lease assets 56 55
Current    
Operating 6 4
Noncurrent    
Operating 46 47
Finance 9 9
Total lease liabilities 61 60
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 7 6
Operating cash flows from finance leases 1 $ 1
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 6  
Weighted average remaining lease term (years)    
Operating leases 13 years 15 years
Finance leases 22 years 23 years
Weighted-average discount rate (as a percent)    
Operating leases 3.90% 4.00%
Finance leases 11.90% 11.90%
Piedmont    
Assets    
Operating lease right-of-use assets, net $ 4 $ 4
Total lease assets 4 4
Noncurrent    
Operating 10 13
Total lease liabilities 10 13
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases   $ 4
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 2  
Weighted average remaining lease term (years)    
Operating leases 4 years 1 year
Finance leases 3 years  
Weighted-average discount rate (as a percent)    
Operating leases 2.40% 3.30%
Finance leases 5.40%  
v3.24.0.1
Debt and Credit Facilities (Summary of Debt and Related Terms) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.35% 4.07%
Unsecured Debt $ 30,435 $ 29,585
Secured Debt 4,202 4,116
First mortgage bonds 37,443 32,645
Finance leases 639 764
Tax exempt bonds 1,331 1,331
Notes payable and commercial paper 4,925 4,582
Fair value hedge carrying value adjustment 32 (5)
Unamortized debt discount and premium, net 916 1,016
Unamortized debt issuance costs (383) (331)
Total debt 79,540 73,703
Short-term notes payable and commercial paper (4,288) (3,952)
Current maturities of long-term debt (2,800) (3,878)
Total long-term debt 72,452 65,873
Short term obligations classified as long-term debt $ 937 $ 937
Unsecured Debt    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.36% 4.20%
Secured Debt    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.23% 3.70%
First Mortgage Bonds    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.18% 3.89%
Finance Leases    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent)  
Tax-exempt bonds    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 3.89% 3.84%
Short term obligations classified as long-term debt $ 312 $ 312
Notes Payable And Commercial Paper    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 5.58% 4.50%
Short term obligations classified as long-term debt $ 625 $ 625
Weighted average days to maturity (in days) 23 days 15 days
Purchase Accounting Adjustments | Parent Company    
Debt Instrument [Line Items]    
Unamortized debt issuance costs $ 25 $ 27
Purchase Accounting Adjustments | Progress Energy    
Debt Instrument [Line Items]    
Unamortized debt discount and premium, net 992 1,057
Purchase Accounting Adjustments | Piedmont    
Debt Instrument [Line Items]    
Unamortized debt discount and premium, net 69 85
Duke Energy Carolinas    
Debt Instrument [Line Items]    
Unsecured Debt 1,150 1,150
Secured Debt 1,441 1,317
First mortgage bonds 12,955 11,306
Finance leases 277 284
Unamortized debt discount and premium, net (29) (21)
Unamortized debt issuance costs (82) (70)
Total debt 16,680 15,499
Current maturities of long-term debt (19) (1,018)
Total long-term debt 15,993 13,248
Short term obligations classified as long-term debt 300 300
Duke Energy Carolinas | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 968 1,533
Short-term money pool/intercompany borrowings 668 1,233
Duke Energy Carolinas | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt   0
Progress Energy    
Debt Instrument [Line Items]    
Unsecured Debt 1,800 2,600
Secured Debt 2,379 2,383
First mortgage bonds 18,550 16,350
Finance leases 571 628
Tax exempt bonds 500 500
Unamortized debt discount and premium, net (46) (40)
Unamortized debt issuance costs (145) (132)
Total debt 24,802 23,282
Current maturities of long-term debt (661) (697)
Total long-term debt 23,098 21,742
Progress Energy | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 1,193 993
Short-term money pool/intercompany borrowings 1,043 843
Duke Energy Progress    
Debt Instrument [Line Items]    
Secured Debt 1,121 1,155
First mortgage bonds 9,475 8,776
Finance leases 552 587
Tax exempt bonds 500 500
Unamortized debt discount and premium, net (24) (23)
Unamortized debt issuance costs (60) (59)
Total debt 12,605 11,325
Current maturities of long-term debt (72) (369)
Total long-term debt 11,642 10,718
Short term obligations classified as long-term debt 150 150
Duke Energy Progress | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 1,041 389
Short-term money pool/intercompany borrowings 891 238
Duke Energy Progress | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt   0
Duke Energy Florida    
Debt Instrument [Line Items]    
Unsecured Debt 150 950
Secured Debt 1,258 1,228
First mortgage bonds 9,075 7,576
Finance leases 19 41
Unamortized debt discount and premium, net (20) (16)
Unamortized debt issuance costs (81) (70)
Total debt 10,553 10,314
Current maturities of long-term debt (589) (328)
Total long-term debt 9,812 9,381
Duke Energy Florida | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 152 605
Short-term money pool/intercompany borrowings 152 605
Duke Energy Florida | Purchase Accounting Adjustments    
Debt Instrument [Line Items]    
Finance leases 63 164
Duke Energy Ohio    
Debt Instrument [Line Items]    
Unsecured Debt 1,155 1,330
First mortgage bonds 2,300 1,850
Tax exempt bonds 77 77
Unamortized debt discount and premium, net (24) (25)
Unamortized debt issuance costs (15) (12)
Total debt 4,131 3,742
Current maturities of long-term debt   (475)
Total long-term debt 3,518 2,770
Short term obligations classified as long-term debt 52 52
Duke Energy Ohio | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 638 522
Short-term money pool/intercompany borrowings 613 497
Duke Energy Ohio | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 27 27
Duke Energy Indiana    
Debt Instrument [Line Items]    
Unsecured Debt 393 697
First mortgage bonds 3,638 3,138
Finance leases 9 9
Tax exempt bonds 352 352
Unamortized debt discount and premium, net (16) (17)
Unamortized debt issuance costs (25) (22)
Total debt 4,758 4,742
Current maturities of long-term debt (4) (303)
Total long-term debt 4,498 4,004
Short term obligations classified as long-term debt 435 435
Duke Energy Indiana | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 407 585
Short-term money pool/intercompany borrowings 256 435
Duke Energy Indiana | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 285 285
Piedmont    
Debt Instrument [Line Items]    
Unsecured Debt 3,695 3,390
Unamortized debt discount and premium, net (8) (9)
Unamortized debt issuance costs (19) (18)
Total debt 4,206 3,877
Current maturities of long-term debt (40) (45)
Total long-term debt 3,628 3,318
Piedmont | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 538 514
Short-term money pool/intercompany borrowings $ 538 $ 514
v3.24.0.1
Debt and Credit Facilities (Summary of Current Maturities of Long-term Debt) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 2,800 $ 3,878
Duke Energy Florida    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 589 $ 328
Unsecured Debt | Parent | Debt Maturing March 2024, 6.048% Coupon    
Debt Instrument [Line Items]    
Interest rate (as a percent) 6.157%  
Current maturities of long-term debt $ 1,000  
Unsecured Debt | Parent | Debt Maturing April 2024, 3.75% Coupon    
Debt Instrument [Line Items]    
Interest rate (as a percent) 3.75%  
Current maturities of long-term debt $ 1,000  
First Mortgage Bonds | Duke Energy Florida | Debt Maturing October 2073, 34.960% Coupon    
Debt Instrument [Line Items]    
Interest rate (as a percent) 4.96%  
Current maturities of long-term debt $ 200  
Other    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 600  
v3.24.0.1
Debt and Credit Facilities (Annual Maturities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Long-term Debt, Fiscal Year Maturity [Abstract]    
2024 $ 2,800  
2025 4,177  
2026 4,280  
2027 2,472  
2028 4,593  
Thereafter 56,375  
Total long-term debt, including current maturities 74,697  
Unamortized debt discount and premium, net (1,000) $ (1,200)
Purchase Accounting Adjustments    
Long-term Debt, Fiscal Year Maturity [Abstract]    
Unamortized debt discount and premium, net 1,086  
Duke Energy Carolinas    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2024 19  
2025 521  
2026 623  
2027 25  
2028 1,276  
Thereafter 13,659  
Total long-term debt, including current maturities 16,123  
Progress Energy    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2024 664  
2025 1,040  
2026 345  
2027 797  
2028 1,551  
Thereafter 19,543  
Total long-term debt, including current maturities 23,940  
Duke Energy Progress    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2024 72  
2025 975  
2026 279  
2027 83  
2028 737  
Thereafter 9,652  
Total long-term debt, including current maturities 11,798  
Duke Energy Florida    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2024 592  
2025 65  
2026 66  
2027 714  
2028 815  
Thereafter 8,239  
Total long-term debt, including current maturities 10,491  
Duke Energy Ohio    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2025 245  
2026 45  
2027 77  
2028 65  
Thereafter 3,125  
Total long-term debt, including current maturities 3,557  
Duke Energy Indiana    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2024 4  
2025 4  
2026 4  
2027 27  
2028 157  
Thereafter 4,347  
Total long-term debt, including current maturities 4,543  
Piedmont    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2024 40  
2025 205  
2026 40  
2027 300  
Thereafter 3,110  
Total long-term debt, including current maturities $ 3,695  
v3.24.0.1
Debt and Credit Facilities (Short Term Obligations Classified As Long Term) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt $ 937 $ 937
Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 312 312
Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 625 625
Duke Energy Carolinas    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 300 300
Duke Energy Carolinas | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt   0
Duke Energy Carolinas | Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 300 300
Duke Energy Progress    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 150 150
Duke Energy Progress | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt   0
Duke Energy Progress | Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 150 150
Duke Energy Ohio    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 52 52
Duke Energy Ohio | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 27 27
Duke Energy Ohio | Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 25 25
Duke Energy Indiana    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 435 435
Duke Energy Indiana | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 285 285
Duke Energy Indiana | Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt $ 150 $ 150
v3.24.0.1
Debt and Credit Facilities (Narrative) (Details)
 1 Months Ended 12 Months Ended
Jan. 05, 2024
USD ($)
Jun. 30, 2023
day
Apr. 03, 2023
Apr. 30, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Sep. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2023
USD ($)
$ / shares
Jan. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Debt Instrument [Line Items]                    
Debt issuances         $ 9,186,000,000     $ 9,825,000,000    
Common stock, par value (in usd per share) | $ / shares         $ 0.001     $ 0.001    
Demand notes, maximum amount available for sale           $ 4,000,000,000        
Demand notes, maximum amount outstanding           $ 2,000,000,000        
Principal amount of demand notes         $ 897,000,000     $ 985,000,000    
Current maturities of long-term debt         3,878,000,000     2,800,000,000    
Other loans outstanding against cash surrender value of life insurance policies         852,000,000     $ 873,000,000    
Maximum                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower               0.65    
Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Facility size               $ 9,000,000,000   $ 9,000,000,000
Letters of Credit Outstanding, Amount               39,000,000    
June 2017 Three Year Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Term (in years)           3 years 3 years      
January 2024 Senior Unsecured Notes | Unsecured Debt | Subsequent Event                    
Debt Instrument [Line Items]                    
Debt issuances                 $ 1,250,000,000  
January 2024 Senior Unsecured Notes, Three Year Tranche | Unsecured Debt | Subsequent Event                    
Debt Instrument [Line Items]                    
Debt issuances $ 600,000,000                  
Term (in years) 3 years                  
January 2024 Senior Unsecured Notes, Five Year Tranche | Unsecured Debt | Subsequent Event                    
Debt Instrument [Line Items]                    
Debt issuances $ 650,000,000                  
Term (in years) 5 years                  
Interest rate (as a percent) 4.85%                  
Variable Rate Term Loan Due March 2024 | Secured Debt | Subsequent Event                    
Debt Instrument [Line Items]                    
Repayments of debt $ 1,000,000,000                  
4.25% Convertible Senior notes Due April 2026                    
Debt Instrument [Line Items]                    
Interest rate (as a percent)       4.125%            
4.25% Convertible Senior notes Due April 2026 | Convertible Debt | Debt Conversion Terms One                    
Debt Instrument [Line Items]                    
Trading days (in days) | day   20                
Consecutive trading days (in days) | day   30                
Debt conversion rate (as a percent)   130.00%                
4.25% Convertible Senior notes Due April 2026 | Convertible Debt | Debt Conversion Terms Two                    
Debt Instrument [Line Items]                    
Trading days (in days) | day   5                
Consecutive trading days (in days) | day   10                
Debt conversion rate (as a percent)   98.00%                
Term Loan Due April 2024                    
Debt Instrument [Line Items]                    
Repayments of debt               800,000,000    
Duke Energy Carolinas                    
Debt Instrument [Line Items]                    
Debt issuances         1,150,000,000     2,650,000,000    
Current maturities of long-term debt         1,018,000,000     $ 19,000,000    
Duke Energy Carolinas | Maximum                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower               0.65    
Duke Energy Carolinas | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Facility size               $ 1,575,000,000    
Letters of Credit Outstanding, Amount               4,000,000    
Duke Energy Carolinas | January 2024 Notes | First Mortgage Bonds | Subsequent Event                    
Debt Instrument [Line Items]                    
Debt issuances 1,000,000,000                  
Duke Energy Carolinas | January 2024 Notes At 4.95% | First Mortgage Bonds | Subsequent Event                    
Debt Instrument [Line Items]                    
Debt issuances $ 575,000,000                  
Term (in years) 10 years                  
Interest rate (as a percent) 4.85%                  
Duke Energy Carolinas | January 2024 Notes At 5.340% | First Mortgage Bonds | Subsequent Event                    
Debt Instrument [Line Items]                    
Debt issuances $ 425,000,000                  
Term (in years) 30 years                  
Interest rate (as a percent) 5.40%                  
Parent                    
Debt Instrument [Line Items]                    
Debt issuances               3,075,000,000    
Parent | Line of Credit | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Repayments of debt         400,000,000          
Facility size             $ 1,400,000,000      
Parent | Line of Credit | Subsequent Event | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Letters of Credit Outstanding, Amount                 $ 1,000,000,000  
Parent | 4.25% Convertible Senior notes Due April 2026                    
Debt Instrument [Line Items]                    
Debt issuances       $ 1,700,000,000            
Debt conversion rate (as a percent)     25.00%              
Common stock, par value (in usd per share) | $ / shares       $ 0.001            
Conversion ratio       0.0084131            
Duke Energy Florida                    
Debt Instrument [Line Items]                    
Debt issuances         500,000,000     1,500,000,000    
Current maturities of long-term debt         $ 328,000,000     $ 589,000,000    
Duke Energy Florida | Maximum                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower               0.65    
Duke Energy Florida | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Facility size               $ 950,000,000    
Letters of Credit Outstanding, Amount               $ 7,000,000    
Progress Energy                    
Debt Instrument [Line Items]                    
Common stock, par value (in usd per share) | $ / shares         $ 0.01     $ 0.01    
Current maturities of long-term debt         $ 697,000,000     $ 661,000,000    
Progress Energy | Maximum                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower               0.65    
Progress Energy | Line of Credit | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Facility size             $ 2,500,000,000      
Duke Energy Ohio                    
Debt Instrument [Line Items]                    
Debt issuances               $ 750,000,000    
Common stock, par value (in usd per share) | $ / shares         $ 8.50     $ 8.50    
Current maturities of long-term debt         $ 475,000,000          
Duke Energy Ohio | Maximum                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower               0.65    
Duke Energy Ohio | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Facility size               $ 1,050,000,000    
Duke Energy Indiana                    
Debt Instrument [Line Items]                    
Debt issuances               500,000,000    
Current maturities of long-term debt         303,000,000     $ 4,000,000    
Duke Energy Indiana | Maximum                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower               0.65    
Duke Energy Indiana | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Facility size               $ 950,000,000    
Duke Energy Progress                    
Debt Instrument [Line Items]                    
Debt issuances         1,352,000,000     1,000,000,000    
Current maturities of long-term debt         369,000,000     72,000,000    
Other loans outstanding against cash surrender value of life insurance policies         33,000,000     $ 32,000,000    
Duke Energy Progress | Maximum                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower               0.65    
Duke Energy Progress | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Facility size               $ 1,400,000,000    
Letters of Credit Outstanding, Amount               1,000,000    
Piedmont                    
Debt Instrument [Line Items]                    
Debt issuances         $ 400,000,000     $ 350,000,000    
Common stock, par value (in usd per share) | $ / shares         $ 0     $ 0    
Current maturities of long-term debt         $ 45,000,000     $ 40,000,000    
Piedmont | Maximum                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower               0.70    
Piedmont | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Facility size               $ 800,000,000    
v3.24.0.1
Debt and Credit Facilities (Summary of Debt Issuances) (Details)
 12 Months Ended
Jan. 05, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2022
EUR (€)
Debt Instrument [Line Items]          
Debt issuances   $ 9,825,000,000 $ 9,186,000,000    
Repayments of long-term debt   $ 4,737,000,000 $ 4,396,000,000 $ 5,294,000,000  
May 2022 Notes Due May 2052 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     5.05%   5.05%
Debt issuances     $ 400,000,000    
June 2022 Notes Due June 2028 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     4.75%   4.75%
Debt issuances     $ 645,000,000    
June 2022 Notes Due June 2034 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     5.306%   5.306%
Debt issuances     $ 537,000,000    
August 2022 Notes Due March 2028 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     4.30%   4.30%
Debt issuances     $ 900,000,000    
August 2022 Notes Due August 2032 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     4.50%   4.50%
Debt issuances     $ 1,150,000,000    
August 2022 Notes Due August 2052 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     5.00%   5.00%
Debt issuances     $ 1,150,000,000    
December 2022 Notes Due December 2025 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     5.00%   5.00%
Debt issuances     $ 500,000,000    
December 2022 Notes Due December 2027 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     5.00%   5.00%
Debt issuances     $ 500,000,000    
March 2022 Notes Due 2032 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     2.85%   2.85%
Debt issuances     $ 500,000,000    
March 2022 Notes Due March 2052 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     3.55%   3.55%
Debt issuances     $ 650,000,000    
March 2022 Notes Due April 2032 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     3.40%   3.40%
Debt issuances     $ 500,000,000    
March 2022 Notes Due April 2052 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     4.00%   4.00%
Debt issuances     $ 400,000,000    
November 2022 Notes Due November 2052 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     5.95%   5.95%
Debt issuances     $ 500,000,000    
June 2022 Notes Due September 2030 | Tax-exempt bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     4.00%   4.00%
Debt issuances     $ 168,000,000    
June 2022 Notes Due November 2039 | Tax-exempt bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     4.25%   4.25%
Debt issuances     $ 234,000,000    
September 2022 Notes Due September 2036 | Tax-exempt bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     3.30%   3.30%
Debt issuances     $ 200,000,000    
September 2022 Notes Due September 2030 (1) | Tax-exempt bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     3.70%   3.70%
Debt issuances     $ 210,000,000    
September 2022 Notes Due September 2030 (2) | Tax-exempt bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)     4.00%   4.00%
Debt issuances     $ 42,000,000    
June 2022 Notes Due June 2028 And 2034 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     3.10%   3.10%
Debt issuances     $ 600,000,000    
Repayments of long-term debt     $ 500,000,000    
June 2022 Notes Due 2034 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)     3.85%   3.85%
Debt issuances | €         € 500,000,000
4.125% April 2023 2023 Notes Due April 2026 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)   4.125%      
Debt issuances   $ 1,725,000,000      
5.400% June 2023 2023 Notes Due June 2023 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.40%      
Debt issuances   $ 350,000,000      
Sept 2023 5.75% Notes Due Sept 2033 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.75%      
Debt issuances   $ 600,000,000      
Sept 2023 4.300% Notes Due Sept 2053 | Unsecured Debt          
Debt Instrument [Line Items]          
Interest rate (as a percent)   6.10%      
Debt issuances   $ 750,000,000      
4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   4.95%      
Debt issuances   $ 900,000,000      
5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.35%      
Debt issuances   $ 900,000,000      
5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.25%      
Debt issuances   $ 500,000,000      
5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.35%      
Debt issuances   $ 500,000,000      
5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.25%      
Debt issuances   $ 375,000,000      
5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.65%      
Debt issuances   $ 375,000,000      
5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.40%      
Debt issuances   $ 500,000,000      
4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   4.95%      
Debt issuances   $ 350,000,000      
5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.40%      
Debt issuances   $ 500,000,000      
4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   4.96%      
Debt issuances   $ 200,000,000      
November 2023 Notes Due November 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   5.875%      
Debt issuances   $ 600,000,000      
November 2023 Notes Due November 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Interest rate (as a percent)   6.20%      
Debt issuances   $ 700,000,000      
Term Loan Due April 2024          
Debt Instrument [Line Items]          
Repayments of debt   800,000,000      
Maturities Due October 2023 (3)          
Debt Instrument [Line Items]          
Repayments of debt   45,000,000      
Maturities Due October 2023          
Debt Instrument [Line Items]          
Repayments of debt   400,000,000      
Maturities Due March 2023          
Debt Instrument [Line Items]          
Repayments of debt   1,000,000,000      
Maturities Due September 2023          
Debt Instrument [Line Items]          
Repayments of debt   300,000,000      
Maturities Due October 2023, Portion          
Debt Instrument [Line Items]          
Repayments of debt   100,000,000      
Maturities Due October 2023 (2)          
Debt Instrument [Line Items]          
Repayments of debt   300,000,000      
Parent Company          
Debt Instrument [Line Items]          
Debt issuances     $ 5,784,000,000    
Parent          
Debt Instrument [Line Items]          
Debt issuances   3,075,000,000      
Parent | June 2022 Notes Due June 2028 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances     645,000,000    
Parent | June 2022 Notes Due June 2034 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances     537,000,000    
Parent | August 2022 Notes Due March 2028 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances     900,000,000    
Parent | August 2022 Notes Due August 2032 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances     1,150,000,000    
Parent | August 2022 Notes Due August 2052 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances     1,150,000,000    
Parent | December 2022 Notes Due December 2025 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances     500,000,000    
Parent | December 2022 Notes Due December 2027 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances     500,000,000    
Parent | June 2022 Notes Due September 2030 | Tax-exempt bonds          
Debt Instrument [Line Items]          
Debt issuances     168,000,000    
Parent | June 2022 Notes Due November 2039 | Tax-exempt bonds          
Debt Instrument [Line Items]          
Debt issuances     234,000,000    
Parent | 4.125% April 2023 2023 Notes Due April 2026 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances   1,725,000,000      
Parent | 5.400% June 2023 2023 Notes Due June 2023 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances   0      
Parent | Sept 2023 5.75% Notes Due Sept 2033 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances   600,000,000      
Parent | Sept 2023 4.300% Notes Due Sept 2053 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances   750,000,000      
Duke Energy Carolinas          
Debt Instrument [Line Items]          
Debt issuances   2,650,000,000 1,150,000,000    
Repayments of long-term debt   1,042,000,000 436,000,000 617,000,000  
Duke Energy Carolinas | March 2022 Notes Due 2032 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances     500,000,000    
Duke Energy Carolinas | March 2022 Notes Due March 2052 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances     650,000,000    
Duke Energy Carolinas | January 2024 Notes | First Mortgage Bonds | Subsequent Event          
Debt Instrument [Line Items]          
Debt issuances $ 1,000,000,000        
Duke Energy Carolinas | January 2024 Notes At 4.95% | First Mortgage Bonds | Subsequent Event          
Debt Instrument [Line Items]          
Interest rate (as a percent) 4.85%        
Debt issuances $ 575,000,000        
Term (in years) 10 years        
Duke Energy Carolinas | January 2024 Notes At 5.340% | First Mortgage Bonds | Subsequent Event          
Debt Instrument [Line Items]          
Interest rate (as a percent) 5.40%        
Debt issuances $ 425,000,000        
Term (in years) 30 years        
Duke Energy Carolinas | 4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   900,000,000      
Duke Energy Carolinas | 5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   900,000,000      
Duke Energy Carolinas | 5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Carolinas | 5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Carolinas | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Carolinas | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Carolinas | 5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Carolinas | 4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   350,000,000      
Duke Energy Carolinas | 5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   500,000,000      
Duke Energy Carolinas | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Carolinas | November 2023 Notes Due November 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Carolinas | November 2023 Notes Due November 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress          
Debt Instrument [Line Items]          
Debt issuances   1,000,000,000 1,352,000,000    
Repayments of long-term debt   369,000,000 645,000,000 1,308,000,000  
Duke Energy Progress | March 2022 Notes Due April 2032 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances     500,000,000    
Duke Energy Progress | March 2022 Notes Due April 2052 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances     400,000,000    
Duke Energy Progress | September 2022 Notes Due September 2036 | Tax-exempt bonds          
Debt Instrument [Line Items]          
Debt issuances     200,000,000    
Duke Energy Progress | September 2022 Notes Due September 2030 (1) | Tax-exempt bonds          
Debt Instrument [Line Items]          
Debt issuances     210,000,000    
Duke Energy Progress | September 2022 Notes Due September 2030 (2) | Tax-exempt bonds          
Debt Instrument [Line Items]          
Debt issuances     42,000,000    
Duke Energy Progress | 4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress | 5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress | 5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   500,000,000      
Duke Energy Progress | 5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   500,000,000      
Duke Energy Progress | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress | 5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress | 4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress | 5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress | November 2023 Notes Due November 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Progress | November 2023 Notes Due November 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Florida          
Debt Instrument [Line Items]          
Debt issuances   1,500,000,000 500,000,000    
Repayments of long-term debt   879,000,000 77,000,000 575,000,000  
Duke Energy Florida | November 2022 Notes Due November 2052 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances     500,000,000    
Duke Energy Florida | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   200,000,000      
Duke Energy Florida | November 2023 Notes Due November 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   600,000,000      
Duke Energy Florida | November 2023 Notes Due November 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   700,000,000      
Piedmont          
Debt Instrument [Line Items]          
Debt issuances   350,000,000 400,000,000    
Repayments of long-term debt   45,000,000   160,000,000  
Piedmont | May 2022 Notes Due May 2052 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances     400,000,000    
Piedmont | 4.125% April 2023 2023 Notes Due April 2026 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances   0      
Piedmont | 5.400% June 2023 2023 Notes Due June 2023 | Unsecured Debt          
Debt Instrument [Line Items]          
Debt issuances   350,000,000      
Duke Energy Ohio          
Debt Instrument [Line Items]          
Debt issuances   750,000,000      
Repayments of long-term debt   500,000,000   50,000,000  
Duke Energy Ohio | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   375,000,000      
Duke Energy Ohio | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   375,000,000      
Duke Energy Indiana          
Debt Instrument [Line Items]          
Debt issuances   500,000,000      
Repayments of long-term debt   303,000,000 $ 84,000,000 $ 70,000,000  
Duke Energy Indiana | 4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | 5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | 5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | 5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | 5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   500,000,000      
Duke Energy Indiana | 4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | 5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | November 2023 Notes Due November 2033 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   0      
Duke Energy Indiana | November 2023 Notes Due November 2053 | First Mortgage Bonds          
Debt Instrument [Line Items]          
Debt issuances   $ 0      
v3.24.0.1
Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) - USD ($)
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Line of Credit Facility [Line Items]      
Tax-exempt bonds $ (1,331,000,000)   $ (1,331,000,000)
Duke Energy Progress      
Line of Credit Facility [Line Items]      
Tax-exempt bonds (500,000,000)   (500,000,000)
Duke Energy Ohio      
Line of Credit Facility [Line Items]      
Tax-exempt bonds (77,000,000)   (77,000,000)
Duke Energy Indiana      
Line of Credit Facility [Line Items]      
Tax-exempt bonds (352,000,000)   $ (352,000,000)
Revolving Credit Facility      
Line of Credit Facility [Line Items]      
Facility size 9,000,000,000 $ 9,000,000,000  
Commercial paper (3,941,000,000)    
Outstanding letters of credit (39,000,000)    
Tax-exempt bonds (81,000,000)    
Available capacity 4,939,000,000    
Revolving Credit Facility | Duke Energy Carolinas      
Line of Credit Facility [Line Items]      
Facility size 1,575,000,000    
Commercial paper (968,000,000)    
Outstanding letters of credit (4,000,000)    
Available capacity 603,000,000    
Revolving Credit Facility | Duke Energy Progress      
Line of Credit Facility [Line Items]      
Facility size 1,400,000,000    
Commercial paper (1,041,000,000)    
Outstanding letters of credit (1,000,000)    
Available capacity 358,000,000    
Revolving Credit Facility | Duke Energy Florida      
Line of Credit Facility [Line Items]      
Facility size 950,000,000    
Commercial paper (152,000,000)    
Outstanding letters of credit (7,000,000)    
Available capacity 791,000,000    
Revolving Credit Facility | Duke Energy Ohio      
Line of Credit Facility [Line Items]      
Facility size 1,050,000,000    
Commercial paper (638,000,000)    
Available capacity 412,000,000    
Revolving Credit Facility | Duke Energy Indiana      
Line of Credit Facility [Line Items]      
Facility size 950,000,000    
Commercial paper (406,000,000)    
Tax-exempt bonds (81,000,000)    
Available capacity 463,000,000    
Revolving Credit Facility | Piedmont      
Line of Credit Facility [Line Items]      
Facility size 800,000,000    
Commercial paper (538,000,000)    
Available capacity 262,000,000    
Revolving Credit Facility | Parent Company      
Line of Credit Facility [Line Items]      
Facility size 2,275,000,000    
Commercial paper (198,000,000)    
Outstanding letters of credit (27,000,000)    
Available capacity 2,050,000,000    
Revolving Credit Facility | Parent Company | Proceeds Loaned To Subsidiary Registrants      
Line of Credit Facility [Line Items]      
Commercial paper $ (625,000,000)    
v3.24.0.1
Guarantees and Indemnifications (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2023
Feb. 28, 2021
Dec. 31, 2020
Jul. 31, 2020
Oct. 31, 2017
Noncurrent Liabilities            
Guarantor Obligations [Line Items]            
Face value of guarantees $ 2 $ 2        
Letters of credit            
Guarantor Obligations [Line Items]            
Maximum potential amount of future payments associated with guarantees   411        
ACP            
Guarantor Obligations [Line Items]            
Maximum borrowing capacity         $ 1,900 $ 3,400
ACP | Atlantic Coast Pipeline (ACP)            
Guarantor Obligations [Line Items]            
Off-balance sheet, credit loss, liability       $ 95    
ACP | Atlantic Coast Pipeline (ACP) | Current Liabilities            
Guarantor Obligations [Line Items]            
Guarantor obligations settled     $ 855      
Performance guarantee | Customers and other third parties            
Guarantor Obligations [Line Items]            
Maximum potential amount of future payments associated with guarantees   26        
Performance guarantee | Spectra Capital            
Guarantor Obligations [Line Items]            
Maximum potential amount of future payments associated with guarantees   $ 33        
Financial guarantee | ACP            
Guarantor Obligations [Line Items]            
Maximum potential amount of future payments associated with guarantees       $ 860    
Maximum exposure (as a percent) 47.00%          
v3.24.0.1
Joint Ownership of Generating and Transmission Facilities (Schedule Joint Ownership of Generating and Transmission Facilities) (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Duke Energy Carolinas | Catawba (units 1 and 2)  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest (as a percent) 19.25%
Property, plant, and equipment $ 976
Accumulated depreciation 559
Construction work in progress $ 42
Duke Energy Carolinas | W.S. Lee CC  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest (as a percent) 87.27%
Property, plant, and equipment $ 654
Accumulated depreciation 98
Construction work in progress $ 2
Duke Energy Indiana | Gibson (unit 5)  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest (as a percent) 50.05%
Property, plant, and equipment $ 460
Accumulated depreciation 263
Construction work in progress $ 4
Duke Energy Indiana | Vermillion  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest (as a percent) 62.50%
Property, plant, and equipment $ 183
Accumulated depreciation 119
Duke Energy Indiana | Transmission and local facilities  
Jointly Owned Utility Plant Interests [Line Items]  
Property, plant, and equipment 7,252
Accumulated depreciation 1,578
Construction work in progress $ 180
v3.24.0.1
Asset Retirement Obligations (Recorded on the Balance Sheet) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation $ 9,156 $ 12,728 $ 12,600
Less: Current portion 596 773  
Total noncurrent asset retirement obligation 8,560 11,955  
Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 4,576    
Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 4,313    
Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 267    
Duke Energy Carolinas      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 4,013 5,382 5,301
Less: Current portion 224 261  
Total noncurrent asset retirement obligation 3,789 5,121  
Duke Energy Carolinas | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,949    
Duke Energy Carolinas | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 2,010    
Duke Energy Carolinas | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 54    
Progress Energy      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 4,145 6,181 6,112
Less: Current portion 245 289  
Total noncurrent asset retirement obligation 3,900 5,892  
Progress Energy | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 2,601    
Progress Energy | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,449    
Progress Energy | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 95    
Duke Energy Progress      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 3,870 5,823 5,675
Less: Current portion 244 288  
Total noncurrent asset retirement obligation 3,626 5,535  
Duke Energy Progress | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 2,410    
Duke Energy Progress | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,427    
Duke Energy Progress | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 33    
Duke Energy Florida      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 275 358 437
Less: Current portion 1 1  
Total noncurrent asset retirement obligation 274 357  
Duke Energy Florida | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 191    
Duke Energy Florida | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 21    
Duke Energy Florida | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 63    
Duke Energy Ohio      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 136 154 136
Less: Current portion 6 17  
Total noncurrent asset retirement obligation 130 137  
Duke Energy Ohio | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 73    
Duke Energy Ohio | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 63    
Duke Energy Indiana      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 809 951 987
Less: Current portion 120 207  
Total noncurrent asset retirement obligation 689 744  
Duke Energy Indiana | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 781    
Duke Energy Indiana | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 28    
Piedmont      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 26 26 $ 22
Total noncurrent asset retirement obligation 26 $ 26  
Piedmont | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation $ 26    
v3.24.0.1
Asset Retirement Obligations (NDTF Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
NDTF Information [Abstract]    
Annual funding requirement $ 4  
Decommissioning costs 8,814  
Legally restricted NDTF investments, fair value 8,851 $ 7,466
Duke Energy Carolinas    
NDTF Information [Abstract]    
Decommissioning costs 4,439  
Legally restricted NDTF investments, fair value 5,002 4,208
Duke Energy Progress    
NDTF Information [Abstract]    
Annual funding requirement 4  
Decommissioning costs 4,181  
Legally restricted NDTF investments, fair value 3,849 $ 3,258
Duke Energy Florida    
NDTF Information [Abstract]    
Decommissioning costs $ 194  
v3.24.0.1
Asset Retirement Obligations (Narrative) (Details)
 12 Months Ended
Dec. 31, 2023
Nuclear Regulatory Commission  
Asset Retirement Obligation [Line Items]  
Operating license extension (in years) 20 years
v3.24.0.1
Asset Retirement Obligations (Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Asset Retirement Obligation [Line Items]    
Beginning Balance $ 12,728 $ 12,600
Accretion expense 523 501
Liabilities settled (758) (680)
Liabilities incurred in the current year 29 22
Revisions in estimates of cash flows (3,366) 285
Ending Balance 9,156 12,728
Duke Energy Carolinas    
Asset Retirement Obligation [Line Items]    
Beginning Balance 5,382 5,301
Accretion expense 254 242
Liabilities settled (256) (234)
Liabilities incurred in the current year 3  
Revisions in estimates of cash flows (1,370) 73
Ending Balance 4,013 5,382
Progress Energy    
Asset Retirement Obligation [Line Items]    
Beginning Balance 6,181 6,112
Accretion expense 237 229
Liabilities settled (379) (334)
Liabilities incurred in the current year 21 18
Revisions in estimates of cash flows (1,915) 156
Ending Balance 4,145 6,181
Duke Energy Progress    
Asset Retirement Obligation [Line Items]    
Beginning Balance 5,823 5,675
Accretion expense 225 215
Liabilities settled (292) (228)
Liabilities incurred in the current year 6  
Revisions in estimates of cash flows (1,892) 161
Ending Balance 3,870 5,823
Duke Energy Florida    
Asset Retirement Obligation [Line Items]    
Beginning Balance 358 437
Accretion expense 12 14
Liabilities settled (87) (106)
Liabilities incurred in the current year 15 18
Revisions in estimates of cash flows (23) (5)
Ending Balance 275 358
Duke Energy Ohio    
Asset Retirement Obligation [Line Items]    
Beginning Balance 154 136
Accretion expense 7 6
Liabilities settled (15) (13)
Liabilities incurred in the current year 1  
Revisions in estimates of cash flows (11) 25
Ending Balance 136 154
Duke Energy Indiana    
Asset Retirement Obligation [Line Items]    
Beginning Balance 951 987
Accretion expense 33 30
Liabilities settled (108) (98)
Liabilities incurred in the current year 4 5
Revisions in estimates of cash flows (71) 27
Ending Balance 809 951
Piedmont    
Asset Retirement Obligation [Line Items]    
Beginning Balance 26 22
Accretion expense 1 1
Revisions in estimates of cash flows (1) 3
Ending Balance $ 26 $ 26
v3.24.0.1
Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Average remaining useful life (in years) 14 years 13 years
Land $ 2,345 $ 2,232
Other buildings and improvements 6,920 6,459
Equipment 3,409 2,959
Construction in process 8,372 7,381
Total property, plant and equipment 171,351 163,839
Facilities to be retired, net 2 9
Total net property, plant and equipment $ 115,315 $ 111,748
Other, estimated useful life, in years 12 years 13 years
Finance leases, gross $ 697 $ 816
Accumulated amortization of finance leases (3) (7)
Nuclear fuel    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Nuclear fuel 3,303 3,081
Accumulated depreciation and amortization (1,793) (1,683)
Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization $ (54,323) $ (50,544)
Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Average remaining useful life (in years) 40 years 39 years
Plant - transmission and distribution $ 129,985 $ 126,016
Regulated | Natural gas transmission and distribution    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Average remaining useful life (in years) 57 years 56 years
Plant - transmission and distribution $ 14,130 $ 13,174
Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Average remaining useful life (in years) 42 years 40 years
Other buildings and improvements $ 2,887 $ 2,537
Nonregulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (1,715) (1,556)
Accumulated amortization of finance leases (7) (1)
Duke Energy Carolinas    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 581 565
Other buildings and improvements 1,455 1,368
Equipment 870 710
Construction in process 2,578 2,671
Total property, plant and equipment 56,670 54,650
Total net property, plant and equipment 36,774 35,981
Finance leases, gross 335 335
Accumulated amortization of finance leases (67) (51)
Duke Energy Carolinas | Nuclear fuel    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Nuclear fuel 1,866 1,723
Accumulated depreciation and amortization (991) (934)
Duke Energy Carolinas | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (19,896) (18,669)
Duke Energy Carolinas | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 48,107 46,640
Duke Energy Carolinas | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 1,213 973
Progress Energy    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 1,012 993
Other buildings and improvements 2,037 1,943
Equipment 1,104 936
Construction in process 3,941 3,073
Total property, plant and equipment 67,644 64,822
Total net property, plant and equipment 45,344 44,238
Finance leases, gross 615 674
Accumulated amortization of finance leases (292) (233)
Progress Energy | Nuclear fuel    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Nuclear fuel 1,437 1,358
Accumulated depreciation and amortization (802) (749)
Progress Energy | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (22,300) (20,584)
Progress Energy | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 57,436 55,872
Progress Energy | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 677 647
Duke Energy Progress    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 502 496
Other buildings and improvements 1,481 1,460
Equipment 654 567
Construction in process 1,661 1,317
Total property, plant and equipment 39,283 38,875
Total net property, plant and equipment 24,056 24,674
Finance leases, gross 552 590
Accumulated amortization of finance leases (119) (81)
Duke Energy Progress | Nuclear fuel    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Nuclear fuel 1,437 1,358
Accumulated depreciation and amortization (802) (749)
Duke Energy Progress | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (15,227) (14,201)
Duke Energy Progress | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 33,171 33,336
Duke Energy Progress | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 377 341
Duke Energy Florida    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 510 497
Other buildings and improvements 548 476
Equipment 450 369
Construction in process 2,280 1,756
Total property, plant and equipment 28,353 25,940
Total net property, plant and equipment 21,286 19,563
Finance leases, gross 63 84
Accumulated amortization of finance leases (173) (152)
Duke Energy Florida | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (7,067) (6,377)
Duke Energy Florida | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 24,265 22,536
Duke Energy Florida | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 300 306
Duke Energy Ohio    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 242 230
Other buildings and improvements 410 380
Equipment 474 441
Construction in process 427 375
Total property, plant and equipment 13,210 12,497
Total net property, plant and equipment 9,759 9,247
Duke Energy Ohio | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (3,451) (3,250)
Duke Energy Ohio | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 7,243 6,900
Duke Energy Ohio | Regulated | Natural gas transmission and distribution    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 3,993 3,773
Duke Energy Ohio | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 421 398
Duke Energy Indiana    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 133 124
Other buildings and improvements 344 320
Equipment 442 356
Construction in process 427 381
Total property, plant and equipment 18,900 18,121
Total net property, plant and equipment 12,399 12,100
Finance leases, gross 10 10
Accumulated amortization of finance leases (4) (4)
Duke Energy Indiana | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (6,501) (6,021)
Duke Energy Indiana | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 17,199 16,604
Duke Energy Indiana | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 355 336
Piedmont    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 352 295
Other buildings and improvements 363 387
Equipment 143 125
Construction in process 690 478
Total property, plant and equipment 11,906 10,869
Facilities to be retired, net 2 9
Total net property, plant and equipment 9,649 8,797
Piedmont | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (2,259) (2,081)
Piedmont | Regulated | Natural gas transmission and distribution    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 10,137 9,401
Piedmont | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements $ 221 $ 183
v3.24.0.1
Property, Plant and Equipment (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
Property, Plant and Equipment [Line Items]  
Charges related to reduction in physical workspace $ 192
Impairment of assets and other charges  
Property, Plant and Equipment [Line Items]  
Charges related to reduction in physical workspace 133
Operation, maintenance and other  
Property, Plant and Equipment [Line Items]  
Charges related to reduction in physical workspace 42
Depreciation and amortization  
Property, Plant and Equipment [Line Items]  
Charges related to reduction in physical workspace $ 17
v3.24.0.1
Goodwill and Intangible Assets (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Goodwill [Line Items]    
Goodwill $ 19,303,000,000 $ 19,303,000,000
Goodwill accumulated impairment loss 0 0
Impairment charges 0  
Electric Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill 17,400,000,000 17,400,000,000
Gas Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill 1,900,000,000 1,900,000,000
Duke Energy Ohio    
Goodwill [Line Items]    
Goodwill 920,000,000 920,000,000
Goodwill accumulated impairment loss 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]    
Goodwill accumulated impairment loss 0  
Piedmont    
Goodwill [Line Items]    
Goodwill 49,000,000 $ 49,000,000
Piedmont | Gas Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill accumulated impairment loss $ 0  
v3.24.0.1
Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts $ 296 $ 273
Total intangible assets, net 282 265
Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 8 8
Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 232 210
Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 56 55
Accumulated amortization (14) (8)
Duke Energy Carolinas    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 97 84
Total intangible assets, net 97 84
Duke Energy Carolinas | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 97 84
Progress Energy    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 143 133
Total intangible assets, net 140 132
Progress Energy | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 5 5
Progress Energy | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 133 124
Progress Energy | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 5 4
Accumulated amortization (3) (1)
Duke Energy Progress    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 136 127
Total intangible assets, net 136 127
Duke Energy Progress | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Duke Energy Progress | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 133 124
Duke Energy Progress | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 1 1
Duke Energy Florida    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 6 6
Total intangible assets, net 3 5
Duke Energy Florida | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 3 3
Duke Energy Florida | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 3 3
Accumulated amortization (3) (1)
Duke Energy Ohio    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Total intangible assets, net 2 2
Duke Energy Ohio | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Duke Energy Indiana    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Total intangible assets, net 2 2
Duke Energy Indiana | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Piedmont    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 22 22
Total intangible assets, net 16 20
Piedmont | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 22 22
Accumulated amortization $ (6) $ (2)
v3.24.0.1
Investments in Unconsolidated Affiliates (Investments in Equity Method Unconsolidated Affiliates) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Investments In Unconsolidated Affiliates [Line Items]      
Investments $ 492 $ 455  
Equity in earnings of unconsolidated affiliates 113 113 $ 62
Electric Utilities and Infrastructure      
Investments In Unconsolidated Affiliates [Line Items]      
Investments 97 99  
Equity in earnings of unconsolidated affiliates 7 7 7
Gas Utilities and Infrastructure      
Investments In Unconsolidated Affiliates [Line Items]      
Investments 259 240  
Equity in earnings of unconsolidated affiliates 40 21 8
Other      
Investments In Unconsolidated Affiliates [Line Items]      
Investments 136 116  
Equity in earnings of unconsolidated affiliates $ 66 $ 85 $ 47
v3.24.0.1
Investments in Unconsolidated Affiliates (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Investments In Unconsolidated Affiliates [Line Items]      
Distributions from equity investments $ 50 $ 111 $ 56
Distributions from equity investments, return of capital $ 16 6 14
Electric Utilities and Infrastructure | DATC      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 50.00%    
Electric Utilities and Infrastructure | Pioneer      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 50.00%    
Gas Utilities and Infrastructure | Sabal Trail      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 7.50%    
Gas Utilities and Infrastructure | SustainRNG      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 29.68%    
Gas Utilities and Infrastructure | Sustain T&W      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 70.00%    
Gas Utilities and Infrastructure | Sustain Liberty      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 70.00%    
Other | NMC      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 17.50%    
Board representation and voting rights, ownership interest (as a percent) 25.00%    
Piedmont      
Investments In Unconsolidated Affiliates [Line Items]      
Distributions from equity investments $ 9 $ 31 8
Distributions from equity investments, return of capital $ 1   $ 2
Piedmont | Gas Utilities and Infrastructure | Cardinal      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 21.49%    
Piedmont | Gas Utilities and Infrastructure | Pine Needle      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 45.00%    
Piedmont | Gas Utilities and Infrastructure | Hardy Storage      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 50.00%    
v3.24.0.1
Related Party Transactions (Other Revenue and Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party $ 22,042 $ 22,778 $ 19,133
Duke Energy Carolinas      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 6,255 5,799 5,449
Duke Energy Carolinas | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 823 838 894
Duke Energy Carolinas | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 34 28 24
Duke Energy Carolinas | Joint Dispatch Agreement (JDA) revenue | Duke Energy Progress      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 177 600 207
Related party transaction, other revenues from transactions with related party 34 109 41
Duke Energy Carolinas | Intercompany natural gas transactions | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 11 12 11
Progress Energy      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 10,485 10,297 8,666
Progress Energy | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 736 818 856
Progress Energy | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 47 43 41
Progress Energy | Joint Dispatch Agreement (JDA) revenue | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 34 109 41
Related party transaction, other revenues from transactions with related party 177 600 207
Progress Energy | Intercompany natural gas transactions | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 75 76 75
Duke Energy Progress      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 5,041 5,351 4,564
Duke Energy Progress | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 434 469 504
Duke Energy Progress | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 20 20 19
Duke Energy Progress | Joint Dispatch Agreement (JDA) revenue | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 34 109 41
Related party transaction, other revenues from transactions with related party 177 600 207
Duke Energy Progress | Intercompany natural gas transactions | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 75 76 75
Duke Energy Florida      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 5,426 4,933 4,087
Duke Energy Florida | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 302 349 352
Duke Energy Florida | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 27 23 22
Duke Energy Ohio      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 1,983 2,124 1,711
Duke Energy Ohio | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 294 334 329
Duke Energy Ohio | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 5 5 4
Duke Energy Indiana      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 2,655 3,656 2,432
Duke Energy Indiana | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 365 447 409
Duke Energy Indiana | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 8 8 8
Piedmont      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 1,066 1,680 1,174
Piedmont | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 149 155 139
Piedmont | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 4 3 3
Piedmont | Intercompany natural gas transactions | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, other revenues from transactions with related party 86 88 86
Piedmont | Natural gas storage and transportation costs | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party $ 24 $ 23 $ 22
v3.24.0.1
Related Party Transactions (Intercompany Income Taxes) (Details) - Related Party - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Duke Energy Carolinas    
Related Party Transaction [Line Items]    
Intercompany income tax payable $ 81 $ 37
Progress Energy    
Related Party Transaction [Line Items]    
Intercompany income tax receivable   95
Intercompany income tax payable 92  
Duke Energy Progress    
Related Party Transaction [Line Items]    
Intercompany income tax receivable   36
Intercompany income tax payable 94  
Duke Energy Florida    
Related Party Transaction [Line Items]    
Intercompany income tax receivable   17
Intercompany income tax payable 114  
Duke Energy Ohio    
Related Party Transaction [Line Items]    
Intercompany income tax receivable 91  
Intercompany income tax payable   17
Duke Energy Indiana    
Related Party Transaction [Line Items]    
Intercompany income tax receivable 53  
Intercompany income tax payable   18
Piedmont    
Related Party Transaction [Line Items]    
Intercompany income tax payable $ 57 $ 38
v3.24.0.1
Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details)
Mcf in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
GWh
Mcf
Dec. 31, 2022
USD ($)
GWh
Mcf
Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 5,027 $ 2,877
Interest Rate Contracts | Designated contracts | Cash flow hedges    
Derivative [Line Items]    
Pay Notional 2,300 500
Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 2,727 $ 2,377
Commodity contracts | Electricity (GWh)    
Derivative [Line Items]    
Notional amount, energy measure, electricity (in GWh) | GWh 13,608 14,086
Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 846 909
Duke Energy Carolinas | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 1,050 $ 1,250
Duke Energy Carolinas | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 1,050 $ 1,250
Duke Energy Carolinas | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 279 307
Progress Energy | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 1,250 $ 800
Progress Energy | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 1,250 $ 800
Progress Energy | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 274 292
Duke Energy Progress | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 925 $ 500
Duke Energy Progress | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 925 $ 500
Duke Energy Progress | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 274 292
Duke Energy Florida | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 325 $ 300
Duke Energy Florida | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional 325 300
Duke Energy Ohio | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional 27 27
Duke Energy Ohio | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 27 $ 27
Duke Energy Ohio | Commodity contracts | Electricity (GWh)    
Derivative [Line Items]    
Notional amount, energy measure, electricity (in GWh) | GWh 1,616 1,820
Duke Energy Indiana | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 400 $ 300
Duke Energy Indiana | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 400 $ 300
Duke Energy Indiana | Commodity contracts | Electricity (GWh)    
Derivative [Line Items]    
Notional amount, energy measure, electricity (in GWh) | GWh 11,992 12,266
Duke Energy Indiana | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 30 11
Piedmont | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 263 299
v3.24.0.1
Derivatives and Hedging (Foreign Exchange Risk) (Details) - Foreign Currency Contracts - Designated contracts
€ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2023
EUR (€)
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Pay Notional $ 1,182    
Receive notional | €     € 1,100
Fair value gain (loss) 32 $ (5)  
Senior Notes, 3.10% Due June 2028      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Pay Notional $ 645    
Pay rate (as a percent) 4.75%   4.75%
Receive notional | €     € 600
Receive rate (as a percent) 0.0310   0.0310
Fair value gain (loss) $ 17 (3)  
Senior Notes, 3.85% Due June 2034      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Pay Notional $ 537    
Pay rate (as a percent) 5.31%   5.31%
Receive notional | €     € 500
Receive rate (as a percent) 0.0385   0.0385
Fair value gain (loss) $ 15 $ (2)  
v3.24.0.1
Derivatives and Hedging (Location and Fair Value Amounts of Derivatives Reflected in the Consolidated Balance Sheets) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Derivatives, Fair Value [Line Items]    
Total Derivative Assets $ 189 $ 795
Total Derivative Liabilities 729 437
Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 61 582
Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 128 213
Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 409 193
Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 320 244
Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 82 478
Total Derivative Liabilities 609 377
Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 63 317
Total Derivative Liabilities 103 2
Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 17 58
Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 44  
Foreign Currency Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 44  
Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 31 101
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 17  
Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 25  
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 26  
Designated as Hedging Instruments | Foreign Currency Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 17  
Designated as Hedging Instruments | Foreign Currency Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   40
Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 25 265
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 57 213
Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 354 175
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 255 202
Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 5 216
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 10  
Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 13  
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 39 2
Not Designated as Hedging Instruments | Foreign Currency Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   18
Duke Energy Carolinas    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 35 330
Total Derivative Liabilities 260 127
Duke Energy Carolinas | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 6 226
Duke Energy Carolinas | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 29 104
Duke Energy Carolinas | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 179 96
Duke Energy Carolinas | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 81 31
Duke Energy Carolinas | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 27 236
Total Derivative Liabilities 244 127
Duke Energy Carolinas | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 8 94
Total Derivative Liabilities 16  
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 132
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 26 104
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 177 96
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 67 31
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 5 94
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 3  
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 2  
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 14  
Progress Energy    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 34 248
Total Derivative Liabilities 234 66
Progress Energy | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 3 140
Progress Energy | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 31 108
Progress Energy | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 149 36
Progress Energy | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 85 30
Progress Energy | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 34 207
Total Derivative Liabilities 199 66
Progress Energy | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   41
Total Derivative Liabilities 35  
Progress Energy | Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   0
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 3 99
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 31 108
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 138 36
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 61 30
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   41
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 11  
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 24  
Duke Energy Progress    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 32 230
Total Derivative Liabilities 219 48
Duke Energy Progress | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 122
Duke Energy Progress | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 31 108
Duke Energy Progress | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 149 18
Duke Energy Progress | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 70 30
Duke Energy Progress | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 32 207
Total Derivative Liabilities 199 48
Duke Energy Progress | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   23
Total Derivative Liabilities 20  
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 99
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 31 108
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 138 18
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 61 30
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   23
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 11  
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 9  
Duke Energy Florida    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 2 17
Total Derivative Liabilities 15 19
Duke Energy Florida | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 2 17
Duke Energy Florida | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   19
Duke Energy Florida | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 15  
Duke Energy Florida | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 2  
Total Derivative Liabilities   19
Duke Energy Florida | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   17
Total Derivative Liabilities 15  
Duke Energy Florida | Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   0
Duke Energy Florida | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 2  
Duke Energy Florida | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   19
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   17
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 15  
Duke Energy Ohio    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 5
Total Derivative Liabilities 1 2
Duke Energy Ohio | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 5
Duke Energy Ohio | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1 2
Duke Energy Ohio | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 5
Duke Energy Ohio | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1 2
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 5
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1 2
Duke Energy Indiana    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 25 110
Total Derivative Liabilities 18 16
Duke Energy Indiana | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 18 110
Duke Energy Indiana | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 7  
Duke Energy Indiana | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 18 16
Duke Energy Indiana | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 18 29
Total Derivative Liabilities 18 16
Duke Energy Indiana | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 7 81
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 18 29
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 18 16
Duke Energy Indiana | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   81
Duke Energy Indiana | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 7  
Piedmont    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1  
Total Derivative Liabilities 147 168
Piedmont | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1  
Piedmont | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 20 27
Piedmont | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 127 141
Piedmont | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1  
Total Derivative Liabilities 147 168
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1  
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 20 27
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities $ 127 $ 141
v3.24.0.1
Derivatives and Hedging (Schedule of Offsetting Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 189 $ 795
Net amounts presented in Current Assets: Other 59 518
Net amounts presented in Other Noncurrent Assets: Other 91 116
Foreign Currency Contracts    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 44  
Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 61 582
Offset $ (2) (33)
Cash collateral received   $ (31)
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Current Assets: Other Current Assets: Other
Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 128 $ 213
Offset $ (37) (59)
Cash collateral received   $ (38)
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other (including amounts related to VIEs) Other (including amounts related to VIEs)
Noncurrent assets | Foreign Currency Contracts    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 44  
Duke Energy Carolinas    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 35 $ 330
Net amounts presented in Current Assets: Other 5 193
Net amounts presented in Other Noncurrent Assets: Other 15 64
Duke Energy Carolinas | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 6 226
Offset (1) (15)
Cash collateral received   (18)
Duke Energy Carolinas | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 29 104
Offset (14) (29)
Cash collateral received   (11)
Progress Energy    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 34 248
Net amounts presented in Current Assets: Other 2 110
Net amounts presented in Other Noncurrent Assets: Other 9 51
Progress Energy | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 3 140
Offset (1) (18)
Cash collateral received   (12)
Progress Energy | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 31 108
Offset (22) (30)
Cash collateral received   (27)
Duke Energy Progress    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 32 230
Net amounts presented in Current Assets: Other   92
Net amounts presented in Other Noncurrent Assets: Other 9 51
Duke Energy Progress | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 1 122
Offset (1) (18)
Cash collateral received   (12)
Duke Energy Progress | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 31 108
Offset (22) (30)
Cash collateral received   (27)
Duke Energy Florida    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 2 17
Net amounts presented in Current Assets: Other 2 17
Duke Energy Florida | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 2 17
Duke Energy Ohio    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 1 5
Net amounts presented in Current Assets: Other 1 5
Duke Energy Ohio | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 1 5
Duke Energy Indiana    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 25 110
Net amounts presented in Current Assets: Other 18 110
Net amounts presented in Other Noncurrent Assets: Other 7  
Duke Energy Indiana | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 18 $ 110
Duke Energy Indiana | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 7  
Piedmont    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 1  
Net amounts presented in Current Assets: Other 1  
Piedmont | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 1  
v3.24.0.1
Derivatives and Hedging (Schedule of Offsetting Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 729 $ 437
Net amounts presented in Current Liabilities: Other 311 144
Net amounts presented in Other Noncurrent Liabilities: Other 217 185
Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 409 193
Offset (2) (33)
Cash collateral posted $ (96) $ (16)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] Current Liabilities: Other Current Liabilities: Other
Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 320 $ 244
Offset (37) $ (59)
Cash collateral posted $ (66)  
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other (includes $54 at 2023 related to VIEs) Other (includes $54 at 2023 related to VIEs)
Duke Energy Carolinas    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 260 $ 127
Net amounts presented in Current Liabilities: Other 130 81
Net amounts presented in Other Noncurrent Liabilities: Other 29 2
Duke Energy Carolinas | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 179 96
Offset (1) (15)
Cash collateral posted (48)  
Duke Energy Carolinas | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 81 31
Offset (14) (29)
Cash collateral posted (38)  
Progress Energy    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 234 66
Net amounts presented in Current Liabilities: Other 118 18
Net amounts presented in Other Noncurrent Liabilities: Other 35  
Progress Energy | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 149 36
Offset (1) (18)
Cash collateral posted (30)  
Progress Energy | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 85 30
Offset (22) (30)
Cash collateral posted (28)  
Duke Energy Progress    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 219 48
Net amounts presented in Current Liabilities: Other 118  
Net amounts presented in Other Noncurrent Liabilities: Other 20  
Duke Energy Progress | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 149 18
Offset (1) (18)
Cash collateral posted (30)  
Duke Energy Progress | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 70 30
Offset (22) (30)
Cash collateral posted (28)  
Duke Energy Florida    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 15 19
Net amounts presented in Current Liabilities: Other   19
Net amounts presented in Other Noncurrent Liabilities: Other 15  
Duke Energy Florida | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized   19
Duke Energy Florida | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 15  
Duke Energy Ohio    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 1 2
Net amounts presented in Other Noncurrent Liabilities: Other 1 2
Duke Energy Ohio | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 1 2
Duke Energy Indiana    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 18 16
Duke Energy Indiana | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 18 16
Cash collateral posted (18) (16)
Piedmont    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 147 168
Net amounts presented in Current Liabilities: Other 20 27
Net amounts presented in Other Noncurrent Liabilities: Other 127 141
Piedmont | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 20 27
Piedmont | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 127 $ 141
v3.24.0.1
Derivatives and Hedging (Derivative Instruments with Credit-Risk Related Contingent Features and Cash Collateral) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features    
Aggregate fair value of derivatives in a net liability position $ 342 $ 141
Fair value of collateral already posted 144  
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 198 141
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 175 86
Fair value of collateral already posted 86  
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 89 86
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 166 55
Fair value of collateral already posted 58  
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 108 55
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 166 48
Fair value of collateral already posted 58  
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered $ 108 48
Duke Energy Florida    
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features    
Aggregate fair value of derivatives in a net liability position   7
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered   $ 7
v3.24.0.1
Investments in Debt and Equity Securities (Estimated Fair Value of Investments in Debt and Equity Securities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Debt Securities, Available-for-sale    
Estimated Fair Value $ 3,003  
Total Investments    
Unrealized Holding Gains 5,019 $ 3,682
Unrealized Holding Losses 171 395
Estimated Fair Value 10,603 9,051
NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 4,942 3,658
Gross Unrealized Holding Losses 22 105
Estimated Fair Value 7,278 5,871
Debt Securities, Available-for-sale    
Estimated Fair Value 2,732 2,550
Total Investments    
Unrealized Holding Gains 4,985 3,661
Unrealized Holding Losses 159 359
Estimated Fair Value 10,143 8,636
NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 133 215
NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 12 1
Gross Unrealized Holding Losses 43 85
Estimated Fair Value 632 641
NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 6  
Gross Unrealized Holding Losses 16 39
Estimated Fair Value 347 330
NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 24 2
Gross Unrealized Holding Losses 65 112
Estimated Fair Value 1,575 1,423
NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1  
Gross Unrealized Holding Losses 13 18
Estimated Fair Value 178 156
Other Investments    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 33 21
Gross Unrealized Holding Losses   16
Estimated Fair Value 158 128
Debt Securities, Available-for-sale    
Estimated Fair Value 271 265
Total Investments    
Unrealized Holding Gains 34 21
Unrealized Holding Losses 12 36
Estimated Fair Value 460 415
Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 31 22
Other Investments | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 6 12
Estimated Fair Value 82 84
Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1  
Gross Unrealized Holding Losses 2 3
Estimated Fair Value 77 78
Other Investments | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 2 2
Estimated Fair Value 65 62
Other Investments | Other debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 2 3
Estimated Fair Value 47 41
Duke Energy Carolinas    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,438  
Duke Energy Carolinas | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 2,886 2,147
Gross Unrealized Holding Losses 14 51
Estimated Fair Value 4,196 3,367
Debt Securities, Available-for-sale    
Estimated Fair Value 1,438 1,298
Total Investments    
Unrealized Holding Gains 2,904 2,149
Unrealized Holding Losses 99 192
Estimated Fair Value 5,685 4,782
Duke Energy Carolinas | NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 51 117
Duke Energy Carolinas | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 4 1
Gross Unrealized Holding Losses 35 62
Estimated Fair Value 390 401
Duke Energy Carolinas | NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 4 10
Estimated Fair Value 50 64
Duke Energy Carolinas | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 13 1
Gross Unrealized Holding Losses 33 51
Estimated Fair Value 826 685
Duke Energy Carolinas | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1  
Gross Unrealized Holding Losses 13 18
Estimated Fair Value 172 148
Progress Energy    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,317  
Total Investments    
Unrealized Holding Gains 2,081 1,512
Unrealized Holding Losses 61 167
Estimated Fair Value 4,499 3,890
Progress Energy | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 2,056 1,511
Gross Unrealized Holding Losses 8 54
Estimated Fair Value 3,082 2,504
Debt Securities, Available-for-sale    
Estimated Fair Value 1,294 1,252
Total Investments    
Unrealized Holding Gains 2,081 1,512
Unrealized Holding Losses 60 167
Estimated Fair Value 4,458 3,854
Progress Energy | NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 82 98
Progress Energy | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 8  
Gross Unrealized Holding Losses 8 23
Estimated Fair Value 242 240
Progress Energy | NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 6  
Gross Unrealized Holding Losses 12 29
Estimated Fair Value 297 266
Progress Energy | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 11 1
Gross Unrealized Holding Losses 32 61
Estimated Fair Value 749 738
Progress Energy | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Estimated Fair Value 6 8
Progress Energy | Other Investments    
Debt Securities, Available-for-sale    
Estimated Fair Value 23 25
Total Investments    
Unrealized Holding Losses 1  
Estimated Fair Value 41 36
Progress Energy | Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 18 11
Progress Energy | Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 1  
Estimated Fair Value 23 25
Duke Energy Progress    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,050  
Total Investments    
Unrealized Holding Gains 1,979 1,432
Unrealized Holding Losses 46 142
Estimated Fair Value 4,089 3,439
Duke Energy Progress | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 1,956 1,431
Gross Unrealized Holding Losses 8 54
Estimated Fair Value 2,970 2,411
Debt Securities, Available-for-sale    
Estimated Fair Value 1,050 963
Total Investments    
Unrealized Holding Gains 1,979 1,432
Unrealized Holding Losses 46 142
Estimated Fair Value 4,075 3,430
Duke Energy Progress | NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 55 56
Duke Energy Progress | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 7  
Gross Unrealized Holding Losses 8 22
Estimated Fair Value 229 230
Duke Energy Progress | NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 6  
Gross Unrealized Holding Losses 12 29
Estimated Fair Value 297 266
Duke Energy Progress | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 10 1
Gross Unrealized Holding Losses 18 37
Estimated Fair Value 518 460
Duke Energy Progress | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Estimated Fair Value 6 7
Duke Energy Progress | Other Investments    
Total Investments    
Estimated Fair Value 14 9
Duke Energy Progress | Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 14 9
Duke Energy Florida    
Debt Securities, Available-for-sale    
Estimated Fair Value 267  
Total Investments    
Unrealized Holding Gains 102 80
Unrealized Holding Losses 15 25
Estimated Fair Value 409 450
Duke Energy Florida | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 100 80
Estimated Fair Value 112 93
Debt Securities, Available-for-sale    
Estimated Fair Value 244 289
Total Investments    
Unrealized Holding Gains 102 80
Unrealized Holding Losses 14 25
Estimated Fair Value 383 424
Duke Energy Florida | NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 27 42
Duke Energy Florida | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1  
Gross Unrealized Holding Losses   1
Estimated Fair Value 13 10
Duke Energy Florida | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1  
Gross Unrealized Holding Losses 14 24
Estimated Fair Value 231 278
Duke Energy Florida | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Estimated Fair Value   1
Duke Energy Florida | Other Investments    
Debt Securities, Available-for-sale    
Estimated Fair Value 23 25
Total Investments    
Unrealized Holding Losses 1  
Estimated Fair Value 26 26
Duke Energy Florida | Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 3 1
Duke Energy Florida | Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 1  
Estimated Fair Value 23 25
Duke Energy Indiana    
Debt Securities, Available-for-sale    
Estimated Fair Value 64  
Total Investments    
Unrealized Holding Gains 5 2
Unrealized Holding Losses 1 20
Estimated Fair Value 163 140
Duke Energy Indiana | Other Investments    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 4 2
Gross Unrealized Holding Losses   16
Estimated Fair Value 98 79
Debt Securities, Available-for-sale    
Estimated Fair Value 64 60
Duke Energy Indiana | Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 1 1
Duke Energy Indiana | Other Investments | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses   1
Estimated Fair Value 8 8
Duke Energy Indiana | Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1  
Gross Unrealized Holding Losses 1 3
Estimated Fair Value 46 45
Duke Energy Indiana | Other Investments | U.S. government bonds    
Debt Securities, Available-for-sale    
Estimated Fair Value $ 10 $ 7
v3.24.0.1
Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
FV-NI:      
Realized gains $ 129 $ 201 $ 724
Realized losses 146 316 141
AFS:      
Realized gains 44 28 56
Realized losses 140 151 54
Duke Energy Carolinas      
FV-NI:      
Realized gains 82 124 440
Realized losses 79 177 96
AFS:      
Realized gains 22 22 38
Realized losses 65 86 37
Progress Energy      
FV-NI:      
Realized gains 47 77 284
Realized losses 67 139 45
AFS:      
Realized gains 22 6 16
Realized losses 75 48 14
Duke Energy Progress      
FV-NI:      
Realized gains 44 76 283
Realized losses 66 136 44
AFS:      
Realized gains 20 6 15
Realized losses $ 70 $ 44 $ 13
v3.24.0.1
Investments in Debt and Equity Securities (Maturities) (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less $ 116
Due after one through five years 696
Due after five through 10 years 598
Due after 10 years 1,593
Total 3,003
Duke Energy Carolinas  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 9
Due after one through five years 226
Due after five through 10 years 333
Due after 10 years 870
Total 1,438
Progress Energy  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 89
Due after one through five years 391
Due after five through 10 years 217
Due after 10 years 620
Total 1,317
Duke Energy Progress  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 13
Due after one through five years 254
Due after five through 10 years 204
Due after 10 years 579
Total 1,050
Duke Energy Florida  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 76
Due after one through five years 137
Due after five through 10 years 13
Due after 10 years 41
Total 267
Duke Energy Indiana  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 7
Due after one through five years 20
Due after five through 10 years 11
Due after 10 years 26
Total $ 64
v3.24.0.1
Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities $ 3,003  
Derivative assets 189 $ 795
Total assets 10,792 9,846
Derivative liabilities (729) (437)
Net assets $ 10,063 $ 9,409
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other (including amounts related to VIEs) Other (including amounts related to VIEs)
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other (includes $54 at 2023 related to VIEs)  
Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets $ 37 $ 1
Total assets 8,484 7,030
Derivative liabilities (60) (16)
Net assets 8,424 7,014
Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 137 760
Total assets 2,256 2,740
Derivative liabilities (669) (421)
Net assets 1,587 2,319
Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 15 34
Total assets 15 34
Net assets 15 34
Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 37 42
Net assets 37 42
NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 133 215
Equity securities 7,278 5,871
Debt securities 2,732 2,550
NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 133 215
Debt securities 829 780
NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 1,903 1,770
NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 7,278 5,871
NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 7,241 5,829
NDTF equity securities | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 37 42
Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 158 128
Debt securities 271 265
Other Investments | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 158 128
Debt securities 55 55
Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 216 210
Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 31 22
Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 31 22
Duke Energy Carolinas    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 1,438  
Derivative assets 35 330
Total assets 5,720 5,112
Derivative liabilities (260) (127)
Net assets 5,460 4,985
Duke Energy Carolinas | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 4,585 3,765
Net assets 4,585 3,765
Duke Energy Carolinas | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 35 330
Total assets 1,098 1,305
Derivative liabilities (260) (127)
Net assets 838 1,178
Duke Energy Carolinas | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 37 42
Net assets 37 42
Duke Energy Carolinas | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 51 117
Equity securities 4,196 3,367
Debt securities 1,438 1,298
Duke Energy Carolinas | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 51 117
Equity securities   3,325
Debt securities 375 323
Duke Energy Carolinas | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 1,063 975
Duke Energy Carolinas | NDTF | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities   42
Duke Energy Carolinas | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 4,196  
Duke Energy Carolinas | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 4,159  
Duke Energy Carolinas | NDTF equity securities | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 37  
Progress Energy    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 1,317  
Derivative assets 34 248
Total assets 4,533 4,138
Derivative liabilities (234) (66)
Net assets 4,299 4,072
Progress Energy | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 3,636 3,070
Net assets 3,636 3,070
Progress Energy | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 34 248
Total assets 897 1,068
Derivative liabilities (234) (66)
Net assets 663 1,002
Progress Energy | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 82 98
Equity securities 3,082 2,504
Debt securities 1,294 1,252
Progress Energy | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 82 98
Debt securities 454 457
Progress Energy | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 840 795
Progress Energy | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 3,082 2,504
Progress Energy | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 3,082 2,504
Progress Energy | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 23 25
Progress Energy | Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 23 25
Progress Energy | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 18 11
Progress Energy | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 18 11
Duke Energy Progress    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 1,050  
Derivative assets 32 230
Total assets 4,121 3,669
Derivative liabilities (219) (48)
Net assets 3,902 3,621
Duke Energy Progress | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 3,305 2,701
Net assets 3,305 2,701
Duke Energy Progress | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 32 230
Total assets 816 968
Derivative liabilities (219) (48)
Net assets 597 920
Duke Energy Progress | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 55 56
Equity securities 2,970 2,411
Debt securities 1,050 963
Duke Energy Progress | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 55 56
Debt securities 266 225
Duke Energy Progress | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 784 738
Duke Energy Progress | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 2,970 2,411
Duke Energy Progress | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 2,970 2,411
Duke Energy Progress | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 14 9
Duke Energy Progress | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 14 9
Duke Energy Florida    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 267  
Derivative assets 2 17
Total assets 411 467
Derivative liabilities (15) (19)
Net assets 396 448
Duke Energy Florida | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 330 368
Net assets 330 368
Duke Energy Florida | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 2 17
Total assets 81 99
Derivative liabilities (15) (19)
Net assets 66 80
Duke Energy Florida | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 27 42
Equity securities 112 93
Debt securities 244 289
Duke Energy Florida | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 27 42
Debt securities 188 232
Duke Energy Florida | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 56 57
Duke Energy Florida | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 112 93
Duke Energy Florida | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 112 93
Duke Energy Florida | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 23 25
Duke Energy Florida | Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 23 25
Duke Energy Florida | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 3 1
Duke Energy Florida | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 3 1
Duke Energy Indiana    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 64  
Derivative assets 25 110
Total assets 188 250
Derivative liabilities (18) (16)
Net assets 170 234
Duke Energy Indiana | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 5  
Total assets 104 80
Derivative liabilities (18) (16)
Net assets 86 64
Duke Energy Indiana | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 7 81
Total assets 71 141
Net assets 71 141
Duke Energy Indiana | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 13 29
Total assets 13 29
Net assets 13 29
Duke Energy Indiana | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 98 79
Debt securities 64 60
Duke Energy Indiana | Other Investments | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 98 79
Duke Energy Indiana | Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 64 60
Duke Energy Indiana | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 1 1
Duke Energy Indiana | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 1 1
Piedmont    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 1  
Derivative liabilities (147) (168)
Net assets (146) (168)
Piedmont | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 1  
Net assets 1  
Piedmont | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities (147)  
Net assets $ (147)  
Piedmont | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities   (168)
Net assets   $ (168)
v3.24.0.1
Fair Value Measurements (Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Unobservable Inputs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Derivatives (net)    
Balance at beginning of period $ 34 $ 24
Purchases, sales, issuances and settlements:    
Purchases 47 78
Settlements (72) (36)
Total gains (losses) included on the Consolidated Balance Sheet 6 (32)
Ending balance 15 34
Duke Energy Indiana    
Derivatives (net)    
Balance at beginning of period 29 22
Purchases, sales, issuances and settlements:    
Purchases 42 74
Settlements (68) (32)
Total gains (losses) included on the Consolidated Balance Sheet 10 (35)
Ending balance $ 13 $ 29
v3.24.0.1
Fair Value Measurements (Quantitative Level 3 Fair Value Disclosure) (Details)
$ in Millions
Dec. 31, 2023
USD ($)
$ / MWh
Dec. 31, 2022
USD ($)
$ / MWh
Dec. 31, 2021
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair value | $ $ 15 $ 34 $ 24
Duke Energy Ohio | FTR price – per MWh | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair value | $ $ 2 $ 5  
Duke Energy Ohio | FTR price – per MWh | Minimum | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 0.36 0.89  
Duke Energy Ohio | FTR price – per MWh | Maximum | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 2.11 6.25  
Duke Energy Ohio | FTR price – per MWh | Weighted Average | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 0.71 3.35  
Duke Energy Indiana      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair value | $ $ 13 $ 29 $ 22
Duke Energy Indiana | FTR price – per MWh | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair value | $ $ 13 $ 29  
Duke Energy Indiana | FTR price – per MWh | Minimum | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) (1.05) 0.09  
Duke Energy Indiana | FTR price – per MWh | Maximum | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 9.64 21.79  
Duke Energy Indiana | FTR price – per MWh | Weighted Average | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 1.26 2.74  
v3.24.0.1
Fair Value Measurements (Other Fair Value Disclosures) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value $ 75,252 $ 69,751
Fair Value 69,790 61,986
Unamortized debt discount and premium, net 1,000 1,200
Duke Energy Carolinas    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 16,012 14,266
Fair Value 15,077 12,943
Progress Energy    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 23,759 22,439
Fair Value 22,553 20,467
Duke Energy Progress    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 11,714 11,087
Fair Value 10,595 9,689
Duke Energy Florida    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 10,401 9,709
Fair Value 10,123 8,991
Duke Energy Ohio    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 3,518 3,245
Fair Value 3,310 2,927
Duke Energy Indiana    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 4,502 4,307
Fair Value 4,230 3,913
Piedmont    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 3,668 3,363
Fair Value $ 3,336 $ 2,940
v3.24.0.1
Variable Interest Entities (Narrative) (Details) - USD ($)
 1 Months Ended 12 Months Ended
Nov. 30, 2021
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Variable Interest Entity [Line Items]        
Inventory (includes $462 at 2023 related to VIEs)   $ 4,292,000,000 $ 3,584,000,000  
Accounts payable   4,228,000,000 4,754,000,000  
Duke Energy Carolinas        
Variable Interest Entity [Line Items]        
Inventory (includes $462 at 2023 related to VIEs)   1,484,000,000 1,164,000,000  
Accounts payable   1,183,000,000 1,472,000,000  
Duke Energy Progress        
Variable Interest Entity [Line Items]        
Inventory (includes $462 at 2023 related to VIEs)   1,227,000,000 1,006,000,000  
Accounts payable   634,000,000 601,000,000  
Duke Energy Ohio        
Variable Interest Entity [Line Items]        
Inventory (includes $462 at 2023 related to VIEs)   179,000,000 144,000,000  
Accounts payable   338,000,000 380,000,000  
Duke Energy Florida        
Variable Interest Entity [Line Items]        
Inventory (includes $462 at 2023 related to VIEs)   674,000,000 573,000,000  
Accounts payable   $ 738,000,000 880,000,000  
CRC        
Variable Interest Entity [Line Items]        
Variation in credit losses (as a percent)   10.00%    
Variation in discount rates (as a percent)   20.00%    
Consolidated VIEs        
Variable Interest Entity [Line Items]        
Financial support   $ 0 $ 0 $ 0
Inventory (includes $462 at 2023 related to VIEs)   462,000,000    
Accounts payable   188,000,000    
Consolidated VIEs | Duke Energy Florida        
Variable Interest Entity [Line Items]        
Inventory (includes $462 at 2023 related to VIEs)   462,000,000    
Accounts payable   $ 188,000,000    
Consolidated VIEs | CRC        
Variable Interest Entity [Line Items]        
Proceeds received as cash (as a percent)   75.00%    
Proceeds received as subordinated note (as a percent)   25.00%    
Minimum Equity Balance required by Cinergy Receivables   $ 3,000,000    
Consolidated VIEs | DECNCSF | Duke Energy Carolinas        
Variable Interest Entity [Line Items]        
Proceeds from issuance of senior secured bonds $ 237,000,000      
Consolidated VIEs | DEPNCSF | Duke Energy Progress        
Variable Interest Entity [Line Items]        
Proceeds from issuance of senior secured bonds $ 770,000,000      
Non-consolidated VIEs | CRC | Duke Energy Ohio        
Variable Interest Entity [Line Items]        
Discount rate (as a percent)   1.00%    
v3.24.0.1
Variable Interest Entities (Schedule of Accounts Receivable Securitizations) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Variable Interest Entity [Line Items]    
Long-Term Debt $ 72,452 $ 65,873
Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Long-Term Debt 15,693 12,948
Duke Energy Progress    
Variable Interest Entity [Line Items]    
Long-Term Debt 11,492 10,568
Duke Energy Florida    
Variable Interest Entity [Line Items]    
Long-Term Debt 9,812 9,381
Consolidated VIEs    
Variable Interest Entity [Line Items]    
Long-Term Debt 3,000 3,108
Consolidated VIEs | Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Long-Term Debt 708 689
Consolidated VIEs | Duke Energy Progress    
Variable Interest Entity [Line Items]    
Long-Term Debt 1,079 1,114
Consolidated VIEs | Duke Energy Florida    
Variable Interest Entity [Line Items]    
Long-Term Debt 831 890
Consolidated VIEs | CRC    
Variable Interest Entity [Line Items]    
Credit facility amount 350  
Long-Term Debt 312 350
Restricted receivables 663 917
Consolidated VIEs | DERF | Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Credit facility amount 500  
Long-Term Debt 500 471
Restricted receivables 991 928
Consolidated VIEs | DEPR | Duke Energy Progress    
Variable Interest Entity [Line Items]    
Credit facility amount 400  
Long-Term Debt 400 400
Restricted receivables 833 793
Consolidated VIEs | DEFR | Duke Energy Florida    
Variable Interest Entity [Line Items]    
Credit facility amount 325  
Long-Term Debt 325 250
Restricted receivables $ 532 $ 490
v3.24.0.1
Variable Interest Entities (Consolidated VIEs) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Variable Interest Entity [Line Items]    
Regulatory Assets: Current $ 3,648 $ 3,485
Current Assets: Other 431 973
Other Noncurrent Assets: Regulatory assets 13,618 14,645
Other (including amounts related to VIEs) 3,964 3,400
Current Liabilities: Other 2,319 2,167
Current maturities of long-term debt 2,800 3,878
Long-Term Debt 72,452 65,873
Duke Energy Florida    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 720 1,143
Current Assets: Other 51 108
Other Noncurrent Assets: Regulatory assets 1,883 2,422
Other (including amounts related to VIEs) 429 372
Current Liabilities: Other 350 363
Current maturities of long-term debt 589 328
Long-Term Debt 9,812 9,381
Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 1,564 1,095
Current Assets: Other 31 216
Other Noncurrent Assets: Regulatory assets 3,916 4,293
Other (including amounts related to VIEs) 1,109 1,036
Current Liabilities: Other 702 580
Current maturities of long-term debt 19 1,018
Long-Term Debt 15,693 12,948
Duke Energy Progress    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 942 690
Current Assets: Other 72 174
Other Noncurrent Assets: Regulatory assets 4,546 4,724
Other (including amounts related to VIEs) 682 650
Current Liabilities: Other 481 384
Current maturities of long-term debt 72 369
Long-Term Debt 11,492 10,568
Consolidated VIEs    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 110 106
Current Assets: Other 90 116
Other Noncurrent Assets: Regulatory assets 1,642 1,715
Other (including amounts related to VIEs) 49 52
Current maturities of long-term debt 428 350
Long-Term Debt 3,000 3,108
Consolidated VIEs | Duke Energy Florida    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 59 55
Current Assets: Other 37 46
Other Noncurrent Assets: Regulatory assets 803 826
Current maturities of long-term debt 384 306
Long-Term Debt 831 890
Consolidated VIEs | Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 12 12
Current Assets: Other 9 8
Other Noncurrent Assets: Regulatory assets 196 208
Current maturities of long-term debt 10 10
Long-Term Debt 708 689
Consolidated VIEs | Duke Energy Progress    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 39 39
Current Assets: Other 31 42
Other Noncurrent Assets: Regulatory assets 643 681
Current maturities of long-term debt 34 34
Long-Term Debt 1,079 1,114
Consolidated VIEs | DEFPF | Duke Energy Florida    
Variable Interest Entity [Line Items]    
Receivables of VIEs   6
Regulatory Assets: Current 59 55
Current Assets: Other 37 41
Other Noncurrent Assets: Regulatory assets 803 826
Current Liabilities: Other 8 9
Current maturities of long-term debt 59 56
Long-Term Debt 831 890
Consolidated VIEs | DECNCSF | Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 12 12
Current Assets: Other 9 8
Other Noncurrent Assets: Regulatory assets 196 208
Other (including amounts related to VIEs) 1 1
Current Liabilities: Other 3 3
Current maturities of long-term debt 10 10
Long-Term Debt 208 219
Consolidated VIEs | DEPNCSF | Duke Energy Progress    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 39 39
Current Assets: Other 31 29
Other Noncurrent Assets: Regulatory assets 643 681
Other (including amounts related to VIEs) 2 2
Current Liabilities: Other 8 8
Current maturities of long-term debt 34 34
Long-Term Debt $ 680 $ 714
v3.24.0.1
Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Variable Interest Entity [Line Items]      
Receivables from affiliated companies $ 1,112 $ 1,309  
Investments in equity method unconsolidated affiliates 492 455  
Other noncurrent assets 3,964 3,400  
Total Assets 176,893 178,086 $ 169,587
Other current liabilities 2,319 2,167  
Other noncurrent liabilities 1,393 1,502  
Duke Energy Ohio      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 112 73  
Other noncurrent assets 84 71  
Total Assets 12,216 11,506 $ 10,774
Other current liabilities 65 74  
Other noncurrent liabilities 86 96  
Duke Energy Ohio | Affiliated entity      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 239 247  
Duke Energy Indiana      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 156 112  
Other noncurrent assets 325 254  
Total Assets 14,811 14,654  
Other current liabilities 184 161  
Other noncurrent liabilities   65  
Duke Energy Indiana | Affiliated entity      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 197 298  
Non-consolidated VIEs | Duke Energy Ohio      
Variable Interest Entity [Line Items]      
Total Assets 150 198  
Net assets 150 198  
Non-consolidated VIEs | Duke Energy Ohio | Affiliated entity      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 150 198  
Non-consolidated VIEs | Duke Energy Indiana      
Variable Interest Entity [Line Items]      
Total Assets 208 317  
Net assets 208 317  
Non-consolidated VIEs | Duke Energy Indiana | Affiliated entity      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 208 317  
Non-consolidated VIEs | Pipeline Investments      
Variable Interest Entity [Line Items]      
Investments in equity method unconsolidated affiliates 67 43  
Other noncurrent assets 43 45  
Total Assets 110 88  
Other current liabilities 4 59  
Other noncurrent liabilities 5 47  
Total liabilities 9 106  
Net assets $ 101 $ (18)  
v3.24.0.1
Variable Interest Entities (Fair Value Assumptions) (Details) - Non-consolidated VIEs - CRC
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Duke Energy Ohio    
Variable Interest Entity [Line Items]    
Anticipated credit loss ratio (as a percent) 0.60% 0.50%
Discount rate (as a percent) 6.10% 2.70%
Receivable turnover rate (as a percent) 13.90% 13.50%
Duke Energy Indiana    
Variable Interest Entity [Line Items]    
Anticipated credit loss ratio (as a percent) 0.40% 0.30%
Discount rate (as a percent) 6.10% 2.70%
Receivable turnover rate (as a percent) 12.00% 11.30%
v3.24.0.1
Variable Interest Entities (Receivables Sold) (Details) - Non-consolidated VIEs - CRC - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Duke Energy Ohio    
Variable Interest Entity [Line Items]    
Receivables sold $ 361 $ 423
Less: Retained interests 150 198
Net receivables sold 211 225
Duke Energy Indiana    
Variable Interest Entity [Line Items]    
Receivables sold 351 508
Less: Retained interests 208 317
Net receivables sold $ 143 $ 191
v3.24.0.1
Variable Interest Entities (Sales and Cash Flows) (Details) - Non-consolidated VIEs - CRC - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Duke Energy Ohio      
Variable Interest Entity [Line Items]      
Receivables sold $ 2,578 $ 2,562 $ 2,023
Loss recognized on sale 34 18 10
Cash proceeds from receivables sold 2,591 2,424 2,018
Collection fees received 1 1 1
Return received on retained interests 19 10 4
Duke Energy Indiana      
Variable Interest Entity [Line Items]      
Receivables sold 3,223 3,744 2,909
Loss recognized on sale 39 26 13
Cash proceeds from receivables sold 3,294 3,498 2,909
Collection fees received 2 2 1
Return received on retained interests $ 25 $ 15 $ 6
v3.24.0.1
Revenue (Remaining Performance Obligations) (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Progress Energy  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 152
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 72
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 30
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 7
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 7
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 7
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 29
Revenue, remaining performance obligation, expected timing of satisfaction, period
Duke Energy Progress  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
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, amount $ 8
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
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 $ 144
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 64
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 30
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 7
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 7
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 7
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 29
Revenue, remaining performance obligation, expected timing of satisfaction, period
Duke Energy Indiana  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 70
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, amount $ 16
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 17
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]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 17
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]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 15
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]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 5
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period
Piedmont  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 468
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 66
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 61
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 51
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 49
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 46
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 195
Revenue, remaining performance obligation, expected timing of satisfaction, period
v3.24.0.1
Revenue (Disaggregation of Revenue) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 $ 28,674 $ 28,675 $ 24,486
Other revenue sources                 386 93 135
Total operating revenues $ 7,212 $ 7,994 $ 6,578 $ 7,276 $ 7,351 $ 7,842 $ 6,564 $ 7,011 29,060 28,768 24,621
Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 26,546 25,888 22,474
Total operating revenues                 26,846 25,990 22,570
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 12,098 11,377 10,097
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 7,895 7,356 6,375
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 3,416 3,504 2,924
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 2,175 2,856 2,199
Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 962 795 879
Gas Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 2,091 2,757 1,983
Total operating revenues                 2,177 2,748 2,022
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,226 1,462 1,131
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 605 765 561
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 141 170 158
Gas Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 119 360 133
Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 37 30 29
Duke Energy Carolinas                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 8,223 7,855 7,145
Other revenue sources                 65 2 (43)
Total operating revenues                 8,288 7,857 7,102
Duke Energy Carolinas | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 8,223 7,855 7,145
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 3,409 3,275 3,054
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 2,670 2,396 2,210
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,334 1,251 1,145
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 492 561 472
Duke Energy Carolinas | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 318 372 264
Progress Energy                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 13,355 13,082 10,962
Other revenue sources                 189 43 95
Total operating revenues                 13,544 13,125 11,057
Progress Energy | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 13,355 13,082 10,962
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 6,510 5,812 5,084
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 3,762 3,396 2,883
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,105 1,095 894
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,388 1,785 1,385
Progress Energy | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 590 994 716
Duke Energy Progress                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 6,426 6,742 5,719
Other revenue sources                 62 11 61
Total operating revenues                 6,488 6,753 5,780
Duke Energy Progress | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 6,426 6,742 5,719
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 2,540 2,378 2,156
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,588 1,480 1,378
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 733 770 634
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,240 1,346 1,164
Duke Energy Progress | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 325 768 387
Duke Energy Florida                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 6,929 6,340 5,243
Other revenue sources                 107 13 16
Total operating revenues                 7,036 6,353 5,259
Duke Energy Florida | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 6,929 6,340 5,243
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 3,970 3,434 2,928
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 2,174 1,916 1,505
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 372 325 260
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 148 439 221
Duke Energy Florida | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 265 226 329
Duke Energy Ohio                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 2,468 2,486 2,026
Other revenue sources                 39 28 11
Total operating revenues                 2,507 2,514 2,037
Duke Energy Ohio | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,829 1,769 1,481
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 947 862 767
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 552 517 440
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 191 202 135
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 46 127 56
Duke Energy Ohio | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 93 61 83
Duke Energy Ohio | Gas Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 639 717 545
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 435 488 354
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 154 180 143
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 26 24 20
Duke Energy Ohio | Gas Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 24 25 28
Duke Energy Indiana                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 3,335 3,837 3,134
Other revenue sources                 64 85 40
Total operating revenues                 3,399 3,922 3,174
Duke Energy Indiana | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 3,335 3,837 3,134
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,233 1,430 1,188
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 911 1,049 825
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 786 956 750
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 248 383 285
Duke Energy Indiana | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 157 19 86
Piedmont                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,483 2,068 1,469
Other revenue sources                 145 56 100
Total operating revenues                 1,628 2,124 1,569
Piedmont | Gas Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 1,483 2,068 1,469
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 792 974 777
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 450 585 418
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 115 144 137
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Power Generation                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 31 94 92
Piedmont | Gas Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Total revenue from contracts with customers                 $ 95 $ 271 $ 45
v3.24.0.1
Revenue (Reserve for Credit Losses for Trade and Other Receivables) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance $ 216 $ 121 $ 146
Cumulative Change in Accounting Principle 205 216 121
Write-Offs (164) (158) (58)
Credit Loss Expense 101 160 53
Other Adjustments 52 93 (20)
Ending balance 205 216 121
Duke Energy Carolinas      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 68 42 23
Cumulative Change in Accounting Principle 56 68 42
Write-Offs (71) (73) (21)
Credit Loss Expense 35 40 27
Other Adjustments 24 59 13
Ending balance 56 68 42
Progress Energy      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 81 36 37
Cumulative Change in Accounting Principle 74 81 36
Write-Offs (84) (70) (25)
Credit Loss Expense 48 72 25
Other Adjustments 29 43 (1)
Ending balance 74 81 36
Duke Energy Progress      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 44 21 23
Cumulative Change in Accounting Principle 44 44 21
Write-Offs (41) (36) (12)
Credit Loss Expense 12 17 11
Other Adjustments 29 42 (1)
Ending balance 44 44 21
Duke Energy Florida      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 36 16 14
Cumulative Change in Accounting Principle 31 36 16
Write-Offs (42) (34) (13)
Credit Loss Expense 37 55 14
Other Adjustments   (1) 1
Ending balance 31 36 16
Duke Energy Ohio      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 6 4 4
Cumulative Change in Accounting Principle 9 6 4
Credit Loss Expense 3 2  
Ending balance 9 6 4
Duke Energy Indiana      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 4 3 3
Cumulative Change in Accounting Principle 5 4 3
Credit Loss Expense 1 1  
Ending balance 5 4 3
Piedmont      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 14 15 12
Cumulative Change in Accounting Principle 11 14 15
Write-Offs (10) (12) (9)
Credit Loss Expense 7 11 7
Other Adjustments     5
Ending balance $ 11 $ 14 $ 15
v3.24.0.1
Revenue (Aging of Trade Receivables) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Past Due [Line Items]    
Unbilled receivables $ 1,273 $ 1,457
Current 2,306 2,347
Deferred payment arrangements 104 160
Trade and Other Receivables 4,336 4,631
1-30 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 275 261
31-60 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 78 123
61-90 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 47 74
91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 253 209
Duke Energy Carolinas    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 399 486
Current 680 577
Deferred payment arrangements 34 57
Trade and Other Receivables 1,312 1,334
Duke Energy Carolinas | 1-30 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 97 96
Duke Energy Carolinas | 31-60 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 20 23
Duke Energy Carolinas | 61-90 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 15 25
Duke Energy Carolinas | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 67 70
Progress Energy    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 401 355
Current 1,009 1,059
Deferred payment arrangements 43 62
Trade and Other Receivables 1,664 1,689
Progress Energy | 1-30 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 91 60
Progress Energy | 31-60 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 34 61
Progress Energy | 61-90 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 17 18
Progress Energy | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 69 74
Duke Energy Progress    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 280 232
Current 612 637
Deferred payment arrangements 26 35
Trade and Other Receivables 1,016 1,004
Duke Energy Progress | 1-30 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 41 15
Duke Energy Progress | 31-60 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 23 49
Duke Energy Progress | 61-90 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 10 9
Duke Energy Progress | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 24 27
Duke Energy Florida    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 121 123
Current 395 417
Deferred payment arrangements 17 27
Trade and Other Receivables 646 680
Duke Energy Florida | 1-30 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 50 45
Duke Energy Florida | 31-60 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 11 12
Duke Energy Florida | 61-90 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 7 9
Duke Energy Florida | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 45 47
Duke Energy Ohio    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 4 20
Current 48 15
Deferred payment arrangements 6 4
Trade and Other Receivables 121 79
Duke Energy Ohio | CRC    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 141 148
Duke Energy Ohio | 1-30 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 12 5
Duke Energy Ohio | 31-60 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 3 6
Duke Energy Ohio | 61-90 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 2 3
Duke Energy Ohio | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 46 26
Duke Energy Indiana    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 22 28
Current 87 52
Trade and Other Receivables 161 116
Duke Energy Indiana | CRC    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 197 260
Duke Energy Indiana | 1-30 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 14 17
Duke Energy Indiana | 31-60 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 7 2
Duke Energy Indiana | 61-90 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 4 11
Duke Energy Indiana | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 27 6
Piedmont    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 108 160
Current 199 265
Deferred payment arrangements   1
Trade and Other Receivables 322 450
Piedmont | 1-30 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 9 15
Piedmont | 31-60 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 2 3
Piedmont | 61-90 days past due    
Financing Receivable, Past Due [Line Items]    
Past due 1 2
Piedmont | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due $ 3 $ 4
v3.24.0.1
Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Sep. 16, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Class of Stock [Line Items]                        
Net Income available to Duke Energy common stockholders   $ 991 $ 1,213 $ (234) $ 765 $ (650) $ 1,383 $ 893 $ 818 $ 2,735 $ 2,444 $ 3,802
Net (loss) income from discontinued operations attributable to Duke Energy Corporation                   (1,391) (1,215) 200
Less: Impact of participating securities                   6 2 3
Income from continuing operations available to Duke Energy common stockholders                   4,120 3,657 3,599
Loss From Discontinued Operations, net of tax   $ (139) $ (152) $ (955) $ (209) $ (1,293) $ 3 $ (18) $ (15) (1,455) (1,323) (144)
Add: Loss attributable to NCI                   $ 64 $ 108 $ 344
Weighted average common shares outstanding – basic (in shares)                   771 770 769
Weighted average common shares outstanding – diluted (in shares)                   771 770 769
EPS from continuing operations available to Duke Energy common stockholders                        
Basic (usd per share)   $ 1.41 $ 1.83 $ 0.91 $ 1.20 $ 0.80 $ 1.78 $ 1.11 $ 1.06 $ 5.35 $ 4.74 $ 4.68
Diluted (usd per share)   1.41 $ 1.83 $ 0.91 $ 1.20 $ 0.80 $ 1.78 $ 1.11 $ 1.06 5.35 4.74 4.68
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders                        
Basic (usd per share)                   (1.81) (1.57) 0.26
Diluted (usd per share)                   $ (1.81) $ (1.57) $ 0.26
Potentially dilutive items excluded from the calculation (in shares)                   2 2 2
Dividends declared per share (usd per share)                   $ 4.06 $ 3.98 $ 3.90
Series A Preferred Stock                        
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders                        
Dividends declared on preferred stock (usd per share)                   $ 1.437 1.437 1.437
Cumulative annual dividend rate (as a percent)                   5.75%    
Liquidation preference per share (in usd per share)   25               $ 25    
Series B Preferred Stock                        
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders                        
Dividends declared on preferred stock (usd per share)                   $ 48.750 $ 48.750 $ 48.750
Cumulative annual dividend rate (as a percent)                   4.875%    
Liquidation preference per share (in usd per share)   $ 1,000               $ 1,000    
Series B Preferred Stock | Forecast                        
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders                        
Cumulative annual dividend rate (as a percent) 3.388%                      
v3.24.0.1
Stockholders' Equity (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Billions
 1 Months Ended
Nov. 30, 2022
Jun. 15, 2024
Dec. 31, 2023
Equity [Abstract]      
Maximum value of shares to be issued under ATM program $ 1.5    
Class of Stock [Line Items]      
Maximum value of shares to be issued under ATM program $ 1.5    
Forecast      
Class of Stock [Line Items]      
Redemption price (in usd per share)   $ 25  
Series A Preferred Stock      
Class of Stock [Line Items]      
Redemption price (in usd per share)     $ 25.50
Liquidation preference per share (in usd per share)     25
Series B Preferred Stock      
Class of Stock [Line Items]      
Redemption price (in usd per share)     1,020
Liquidation preference per share (in usd per share)     $ 1,000
v3.24.0.1
Severance (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
employee
Dec. 31, 2022
USD ($)
employee
Dec. 31, 2021
USD ($)
employee
Restructuring and Related Activities [Abstract]      
Number of eligible employees | employee 682 233 290
Severance expense | $ $ 102 $ 65 $ 69
v3.24.0.1
Severance (Expenses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]      
Severance expense $ 102 $ 65 $ 69
Amortization of deferred severance charges 22 33 33
Severance charges adjustments   (19) (3)
Operation, maintenance and other      
Restructuring Cost and Reserve [Line Items]      
Severance expense 97    
Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (6)    
Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (14)    
Duke Energy Carolinas      
Restructuring Cost and Reserve [Line Items]      
Severance expense 53 40 33
Amortization of deferred severance charges 14 22 22
Severance charges adjustments   (6) (2)
Duke Energy Carolinas | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (2)    
Duke Energy Carolinas | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (7)    
Progress Energy      
Restructuring Cost and Reserve [Line Items]      
Severance expense 33 20 26
Amortization of deferred severance charges 8 11 11
Severance charges adjustments   (8)  
Progress Energy | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (3)    
Progress Energy | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (5)    
Duke Energy Progress      
Restructuring Cost and Reserve [Line Items]      
Severance expense 21 17 20
Amortization of deferred severance charges 8 11 11
Severance charges adjustments   (4)  
Duke Energy Progress | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Amortization of deferred severance charges (2)    
Duke Energy Progress | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (3)    
Duke Energy Florida      
Restructuring Cost and Reserve [Line Items]      
Severance expense 12 3 6
Severance charges adjustments   (4)  
Duke Energy Florida | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Amortization of deferred severance charges (1)    
Duke Energy Florida | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (2)    
Duke Energy Ohio      
Restructuring Cost and Reserve [Line Items]      
Severance expense 3 1 2
Severance charges adjustments   (1)  
Duke Energy Ohio | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (1)    
Duke Energy Indiana      
Restructuring Cost and Reserve [Line Items]      
Severance expense 6 2 3
Severance charges adjustments   (2) (1)
Duke Energy Indiana | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Amortization of deferred severance charges (1)    
Duke Energy Indiana | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (1)    
Piedmont      
Restructuring Cost and Reserve [Line Items]      
Severance expense $ 4 2 $ 2
Severance charges adjustments   $ (1)  
v3.24.0.1
Severance (Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Restructuring Reserve [Roll Forward]    
Balance, beginning of period $ 64 $ 39
Provision/Adjustments 80 33
Cash Reductions (42) (8)
Balance, end of period 102 64
Duke Energy Carolinas    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 15 2
Provision/Adjustments 30 14
Cash Reductions (10) (1)
Balance, end of period 35 15
Progress Energy    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 6 2
Provision/Adjustments 13 4
Cash Reductions (3)  
Balance, end of period 16 6
Duke Energy Progress    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 4 1
Provision/Adjustments 6 3
Cash Reductions (2)  
Balance, end of period 8 4
Duke Energy Florida    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 2 1
Provision/Adjustments 7 1
Cash Reductions (1)  
Balance, end of period 8 2
Duke Energy Ohio    
Restructuring Reserve [Roll Forward]    
Provision/Adjustments 1  
Balance, end of period 1  
Duke Energy Indiana    
Restructuring Reserve [Roll Forward]    
Provision/Adjustments 4  
Balance, end of period 4  
Piedmont    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 1  
Provision/Adjustments 2 1
Cash Reductions (1)  
Balance, end of period $ 2 $ 1
v3.24.0.1
Stock-Based Compensation (Narrative) (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares reserved for awards to employees and outside directors (in shares) 15    
RSU awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total grant date fair value of shares vested $ 52 $ 49 $ 45
Unrecognized compensation cost $ 33    
Unrecognized compensation cost, period of recognition (in months) 23 months    
RSU awards | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period (in years) 3 years    
Performance awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period (in years) 3 years    
Total grant date fair value of shares vested $ 31 $ 25  
Unrecognized compensation cost $ 23    
Unrecognized compensation cost, period of recognition (in months) 22 months    
Risk free interest rate (as a percent) 4.43%    
Expected volatility rate (as a percent) 28.60%    
Performance awards | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percent (as a percent) 0.00%    
Performance awards | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percent (as a percent) 200.00%    
v3.24.0.1
Stock-Based Compensation (Schedule of Stock-Based Compensation Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized $ 71 $ 74 $ 64
Pretax stock-based compensation cost 97 100 88
Stock-based compensation costs capitalized 6 5 5
Stock-based compensation expense 91 95 83
Tax benefit associated with stock-based compensation expense 20 21 19
RSU awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Pretax stock-based compensation cost 54 58 49
Performance awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Pretax stock-based compensation cost 43 42 39
Duke Energy Carolinas      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 25 27 23
Progress Energy      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 28 27 24
Duke Energy Progress      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 17 17 15
Duke Energy Florida      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 11 10 9
Duke Energy Ohio      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 5 5 5
Duke Energy Indiana      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 7 7 6
Piedmont      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized $ 4 $ 4 $ 3
v3.24.0.1
Stock-Based Compensation (Summary of Stock Awards Outstanding) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
RSU awards      
Schedule Of Shares Awarded [Abstract]      
Shares granted (in thousands) 670 654 673
Fair value (in millions) $ 65 $ 64 $ 59
Shares      
Outstanding at beginning of period (in shares) 1,097    
Granted (in shares) 670 654 673
Vested (in shares) (548)    
Forfeited (in shares) (104)    
Outstanding at end of period (in shares) 1,115 1,097  
Stock awards expected to vest (in shares) 1,064    
Weighted Average Grant Date Fair Value      
Weighted average fair value at beginning of period (usd per share) $ 95    
Granted (usd per share) 97    
Vested (usd per share) 95    
Forfeited (usd per share) 96    
Weighted average fair value at end of period (usd per share) 96 $ 95  
Weighted average fair value of awards expected to vest (usd per share) $ 96    
Performance awards      
Schedule Of Shares Awarded [Abstract]      
Shares granted (in thousands) 422 408 380
Fair value (in millions) $ 42 $ 40 $ 33
Shares      
Outstanding at beginning of period (in shares) 1,033    
Granted (in shares) 422 408 380
Vested (in shares) (298)    
Forfeited (in shares) (42)    
Outstanding at end of period (in shares) 1,115 1,033  
Stock awards expected to vest (in shares) 1,086    
Weighted Average Grant Date Fair Value      
Weighted average fair value at beginning of period (usd per share) $ 97    
Granted (usd per share) 100    
Vested (usd per share) 105    
Forfeited (usd per share) 98    
Weighted average fair value at end of period (usd per share) 96 $ 97  
Weighted average fair value of awards expected to vest (usd per share) $ 96    
v3.24.0.1
Employee Benefit Plans (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jan. 01, 2023
Defined Benefit Plan Disclosure [Line Items]        
Maximum years of participation (in years) 35 years      
Matching contribution (as a percent) 100.00%      
Eligible pay (as a percent) 6.00%      
Additional contribution for employees not participating in defined pension plans (as a percent) 4.00%      
Vesting period (in years) 3 years      
Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Average Earnings, Period 3 years      
Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Average Earnings, Period 5 years      
Master Trust        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent) 100.00%      
Fair value of securities on loan $ 2 $ 390    
Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 676 (1,547)    
Average remaining service period (in years) 12 years      
Accumulated Benefit Obligation at measurement date $ 6,267 6,324    
Projected benefit obligation 6,299 6,358 $ 8,207  
Benefits paid 607 753    
Employer contributions $ 100 $ 58    
Expected long-term rate of return on plan assets (as a percent) 8.25% 6.50% 6.50%  
Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date $ 224      
Projected benefit obligation 224      
Benefits paid 24      
Employer contributions $ 24      
Pension Plan | Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Expected long-term rate of return on plan assets (as a percent)      
Pension Plan | Master Trust        
Defined Benefit Plan Disclosure [Line Items]        
Master trust allocation (as a percent) 98.00% 98.00%    
Expected long-term rate of return on plan assets (as a percent) 7.00%      
Pension Plan | Master Trust | Liability Hedging Assets        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)       35.00%
Pension Plan | Master Trust | Return Seeking Assets        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)       65.00%
Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 19 $ (31)    
Average remaining service period (in years) 7 years      
Projected benefit obligation $ 347 437 $ 625  
Benefits paid 58 $ 68    
Employer contributions $ 42      
Expected long-term rate of return on plan assets (as a percent)   6.50% 6.50%  
Other Post-Retirement Benefit Plans | Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Expected long-term rate of return on plan assets (as a percent) 6.50%      
Other Post-Retirement Benefit Plans | Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Expected long-term rate of return on plan assets (as a percent) 8.25%      
Other Post-Retirement Benefit Plans | Master Trust        
Defined Benefit Plan Disclosure [Line Items]        
Master trust allocation (as a percent) 2.00% 2.00%    
Expected long-term rate of return on plan assets (as a percent) 8.50%      
Target allocation (as a percent) 100.00%      
Other Post-Retirement Benefit Plans | Master Trust | Liability Hedging Assets        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)       80.00%
Other Post-Retirement Benefit Plans | Master Trust | Return Seeking Assets        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)       20.00%
Duke Energy Carolinas | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 183 $ (411)    
Average remaining service period (in years) 11 years      
Accumulated Benefit Obligation at measurement date $ 1,517 1,556    
Projected benefit obligation 1,514 1,554 $ 1,903  
Benefits paid 177 159    
Employer contributions 26 15    
Duke Energy Carolinas | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 10      
Projected benefit obligation 10      
Benefits paid 1      
Employer contributions 1      
Duke Energy Carolinas | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 8 (19)    
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 69 112 149  
Benefits paid 14 16    
Employer contributions 6      
Progress Energy | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 229 (506)    
Average remaining service period (in years) 14 years      
Accumulated Benefit Obligation at measurement date $ 1,975 1,959    
Projected benefit obligation 1,990 1,975 2,560  
Benefits paid 159 184    
Employer contributions 22 13    
Progress Energy | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 78      
Projected benefit obligation 78      
Benefits paid 8      
Employer contributions $ 8      
Progress Energy | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Average remaining service period (in years) 5 years      
Projected benefit obligation $ 146 168 263  
Benefits paid 22 26    
Employer contributions 20      
Duke Energy Progress | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 107 (240)    
Average remaining service period (in years) 12 years      
Accumulated Benefit Obligation at measurement date $ 912 910    
Projected benefit obligation 911 909 1,153  
Benefits paid 80 101    
Employer contributions 13 8    
Duke Energy Progress | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 23      
Projected benefit obligation 23      
Benefits paid 3      
Employer contributions $ 3      
Duke Energy Progress | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Average remaining service period (in years) 5 years      
Projected benefit obligation $ 84 95 147  
Benefits paid 11 $ 13    
Employer contributions 11      
Duke Energy Florida        
Defined Benefit Plan Disclosure [Line Items]        
Fair value evaluation period (in years)   5 years    
Duke Energy Florida | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets 120 $ (262)    
Accumulated Benefit Obligation at measurement date 1,053 1,038    
Projected benefit obligation 1,069 1,055 1,392  
Benefits paid 78 82    
Employer contributions 9 5    
Duke Energy Florida | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 31      
Projected benefit obligation 31      
Benefits paid 3      
Employer contributions $ 3      
Duke Energy Florida | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Average remaining service period (in years) 7 years      
Projected benefit obligation $ 60 69 112  
Benefits paid 10 13    
Employer contributions 10      
Duke Energy Indiana | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 45 (107)    
Average remaining service period (in years) 14 years      
Accumulated Benefit Obligation at measurement date $ 494 495    
Projected benefit obligation 496 499 680  
Benefits paid 40 66    
Employer contributions 8 5    
Duke Energy Indiana | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 2      
Projected benefit obligation $ 2      
Duke Energy Indiana | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 24 30 54  
Benefits paid 6 8    
Employer contributions 6      
Piedmont | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 23 (64)    
Average remaining service period (in years) 9 years      
Accumulated Benefit Obligation at measurement date $ 176 170    
Projected benefit obligation 175 170 273  
Benefits paid 16 69    
Employer contributions 3 2    
Piedmont | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 2      
Projected benefit obligation 2      
Piedmont | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 4 (7)    
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 15 21 27  
Benefits paid 2 2    
Employer contributions 1      
Duke Energy Ohio | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets 29 (68)    
Accumulated Benefit Obligation at measurement date 317 327    
Projected benefit obligation 325 333 450  
Benefits paid 31 50    
Employer contributions 5 3    
Duke Energy Ohio | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 2      
Projected benefit obligation 2      
Duke Energy Ohio | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 1 (2)    
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 19 20 $ 25  
Benefits paid 3 4    
Employer contributions $ 2      
Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets   24    
Duke Energy Retirement Cash Balance Plan        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   117    
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   22    
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Duke Energy Carolinas        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   3    
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Progress Energy        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   5    
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Duke Energy Progress        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   5    
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Duke Energy Florida        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   1    
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Piedmont        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   6    
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Duke Energy Ohio        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   5    
Regulatory Assets, Noncurrent | Noncurrent assets        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   95    
Regulatory Assets, Noncurrent | Noncurrent assets | Duke Energy Carolinas        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   35    
Regulatory Assets, Noncurrent | Noncurrent assets | Progress Energy        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   23    
Regulatory Assets, Noncurrent | Noncurrent assets | Duke Energy Progress        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   16    
Regulatory Assets, Noncurrent | Noncurrent assets | Duke Energy Florida        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   7    
Regulatory Assets, Noncurrent | Noncurrent assets | Duke Energy Indiana        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   8    
Regulatory Assets, Noncurrent | Noncurrent assets | Piedmont        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge   $ 29    
v3.24.0.1
Employee Benefit Plans (Contributions to Defined Benefit Pension Plans) (Details) - Pension Plan - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]    
Employer contributions $ 100 $ 58
Duke Energy Carolinas    
Defined Benefit Plan Disclosure [Line Items]    
Employer contributions 26 15
Progress Energy    
Defined Benefit Plan Disclosure [Line Items]    
Employer contributions 22 13
Duke Energy Progress    
Defined Benefit Plan Disclosure [Line Items]    
Employer contributions 13 8
Duke Energy Florida    
Defined Benefit Plan Disclosure [Line Items]    
Employer contributions 9 5
Duke Energy Ohio    
Defined Benefit Plan Disclosure [Line Items]    
Employer contributions 5 3
Duke Energy Indiana    
Defined Benefit Plan Disclosure [Line Items]    
Employer contributions 8 5
Piedmont    
Defined Benefit Plan Disclosure [Line Items]    
Employer contributions $ 3 $ 2
v3.24.0.1
Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pension Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost $ 110 $ 145  
Interest cost on projected benefit obligation 344 249  
Amortization of regulatory asset 3 3 $ 3
Pension Plan | Duke Energy Carolinas      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 36 47  
Interest cost on projected benefit obligation 84 59 51
Expected return on plan assets (160) (152) (141)
Amortization of actuarial loss 2 16 29
Amortization of prior service credit (1) (3) (8)
Amortization of settlement charges(c) 9 9 5
MRVA method change   0  
Net periodic pension costs (28) (23) (8)
Service cost 38 48 56
Pension Plan | Progress Energy      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 30 40  
Interest cost on projected benefit obligation 107 77 70
Expected return on plan assets (198) (183) (187)
Amortization of actuarial loss 4 23 38
Amortization of prior service credit     (2)
Amortization of settlement charges(c) 5 8 2
MRVA method change   24  
Net periodic pension costs (49) (8) (29)
Service cost 33 43 50
Pension Plan | Duke Energy Progress      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 18 24  
Interest cost on projected benefit obligation 49 35 30
Expected return on plan assets (93) (88) (84)
Amortization of actuarial loss 2 12 18
Amortization of prior service credit     (1)
Amortization of settlement charges(c) 3 7 2
MRVA method change   0  
Net periodic pension costs (20) (9) (6)
Service cost 19 25 29
Pension Plan | Duke Energy Florida      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 12 16  
Interest cost on projected benefit obligation 57 41 39
Expected return on plan assets (104) (94) (102)
Amortization of actuarial loss 2 12 20
Amortization of prior service credit     (1)
Amortization of settlement charges(c) 1 1 1
MRVA method change   24  
Net periodic pension costs (31) 1 (22)
Service cost 13 17 21
Pension Plan | Duke Energy Ohio      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 3 4  
Interest cost on projected benefit obligation 18 13 13
Expected return on plan assets (24) (23) (28)
Amortization of actuarial loss   4 7
Amortization of prior service credit     (1)
Amortization of settlement charges(c)   5  
MRVA method change   0  
Net periodic pension costs (3) 3 (4)
Amortization of regulatory asset 1 1 1
Service cost 3 4 5
Pension Plan | Duke Energy Indiana      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 6 8  
Interest cost on projected benefit obligation 27 20 18
Expected return on plan assets (40) (37) (40)
Amortization of actuarial loss 2 9 13
Amortization of prior service credit (2) (2) (2)
Amortization of settlement charges(c) 1 1  
MRVA method change   0  
Net periodic pension costs (6)   (1)
Service cost 6 9 10
Pension Plan | Piedmont      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 3 5  
Interest cost on projected benefit obligation 9 8 7
Expected return on plan assets (20) (24) (20)
Amortization of actuarial loss   5 10
Amortization of prior service credit (7) (7) (9)
Amortization of settlement charges(c) 4 7 1
MRVA method change   0  
Net periodic pension costs (10) (6) (5)
Service cost 4 5 6
Pension Plan | Parent      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 344 249 220
Expected return on plan assets (588) (558) (558)
Amortization of actuarial loss 10 81 133
Amortization of prior service credit (14) (18) (29)
Amortization of settlement charges(c) 19 32 9
MRVA method change   24  
Net periodic pension costs (112) (38) (49)
Service cost 117 152 176
Other Post-Retirement Benefit Plans      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 2 3 4
Interest cost on projected benefit obligation 22 17 18
Expected return on plan assets (11) (10) (11)
Amortization of actuarial loss (6) 2 2
Amortization of prior service credit (23) (8) (13)
Net periodic pension costs (16) 4  
Amortization of regulatory asset 4 4 5
Other Post-Retirement Benefit Plans | Duke Energy Carolinas      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 1 1 1
Interest cost on projected benefit obligation 5 4 4
Expected return on plan assets (7) (6) (7)
Amortization of actuarial loss (3)    
Amortization of prior service credit (5) (3) (4)
Net periodic pension costs (9) (4) (6)
Other Post-Retirement Benefit Plans | Progress Energy      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost     1
Interest cost on projected benefit obligation 9 7 7
Amortization of actuarial loss 8 1 1
Amortization of prior service credit (11) (2) (2)
Net periodic pension costs 6 6 7
Other Post-Retirement Benefit Plans | Duke Energy Progress      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 5 4 4
Amortization of actuarial loss 5 1  
Amortization of prior service credit (6) (1) (1)
Net periodic pension costs 4 4 3
Other Post-Retirement Benefit Plans | Duke Energy Florida      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 4 3 3
Amortization of actuarial loss 2 1 1
Amortization of prior service credit (5) (1) (1)
Net periodic pension costs 1 3 3
Other Post-Retirement Benefit Plans | Duke Energy Ohio      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 1 1 1
Amortization of actuarial loss (2)    
Amortization of prior service credit     (1)
Net periodic pension costs (1) 1  
Amortization of regulatory asset 1 1 1
Other Post-Retirement Benefit Plans | Duke Energy Indiana      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost     1
Interest cost on projected benefit obligation 1 1 1
Amortization of actuarial loss (3)   4
Amortization of prior service credit (5)   (1)
Net periodic pension costs (7) 1 5
Other Post-Retirement Benefit Plans | Piedmont      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 1 1 1
Expected return on plan assets (2) (2) (2)
Amortization of prior service credit   (2) (2)
Net periodic pension costs $ (1) $ (3) $ (3)
v3.24.0.1
Employee Benefit Plans (Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accumulated other comprehensive (income) loss      
Net amount recognized in accumulated other comprehensive income [1] $ 1 $ 19 $ (7)
Progress Energy      
Accumulated other comprehensive (income) loss      
Net amount recognized in accumulated other comprehensive income 2 (5) $ (1)
Pension Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 5 367  
Accumulated other comprehensive (income) loss      
Deferred income tax expense   (7)  
Amortization of prior year service credit (2) 37  
Net amount recognized in accumulated other comprehensive income (2) 30  
Pension Plan | Duke Energy Carolinas      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (14) 221  
Pension Plan | Progress Energy      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 8 107  
Accumulated other comprehensive (income) loss      
Deferred income tax expense   (1)  
Amortization of prior year service credit   2  
Net amount recognized in accumulated other comprehensive income   1  
Pension Plan | Duke Energy Progress      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease)   101  
Pension Plan | Duke Energy Florida      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 9 5  
Pension Plan | Duke Energy Ohio      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (3) (1)  
Pension Plan | Duke Energy Indiana      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (2) (12)  
Pension Plan | Piedmont      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 13 9  
Other Post-Retirement Benefit Plans      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 73 (79)  
Regulatory liabilities, net increase (decrease) 41 27  
Accumulated other comprehensive (income) loss      
Amortization of prior year service credit 1    
Amortization of prior year actuarial gain   1  
Net amount recognized in accumulated other comprehensive income 1 1  
Other Post-Retirement Benefit Plans | Duke Energy Carolinas      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 79    
Regulatory liabilities, net increase (decrease) 62    
Other Post-Retirement Benefit Plans | Progress Energy      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (7) (80)  
Accumulated other comprehensive (income) loss      
Amortization of prior year actuarial gain (1)    
Net amount recognized in accumulated other comprehensive income (1)    
Other Post-Retirement Benefit Plans | Duke Energy Progress      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (5) (45)  
Other Post-Retirement Benefit Plans | Duke Energy Florida      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease)   (36)  
Other Post-Retirement Benefit Plans | Duke Energy Ohio      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (2)    
Regulatory liabilities, net increase (decrease) (4)    
Other Post-Retirement Benefit Plans | Duke Energy Indiana      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (2) (3)  
Regulatory liabilities, net increase (decrease) (8) 19  
Other Post-Retirement Benefit Plans | Piedmont      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) $ 1    
Regulatory liabilities, net increase (decrease)   $ (5)  
[1] Net of income tax expense of approximately $40 million and $52 million for the years ended December 31, 2023, and 2022, respectively, and income tax benefit of $17 million for the year ended December 31, 2021.
v3.24.0.1
Employee Benefit Plans (Projected Benefit Obligations Reconciliation of Funded Status to Net Amount Recognized) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pension Plan      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date $ 6,358 $ 8,207  
Service cost 110 145  
Interest cost 344 249  
Actuarial loss 94 (1,490)  
Benefits paid (607) (753)  
Obligation at measurement date 6,299 6,358 $ 8,207
Accumulated Benefit Obligation at measurement date 6,267 6,324  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 6,993 9,235  
Employer contributions 100 58  
Actual return on plan assets 676 (1,547)  
Benefits paid (607) (753)  
Plan assets at measurement date 7,162 6,993 9,235
Funded status of plan 863 635  
Pension Plan | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (24)    
Obligation at measurement date 224    
Accumulated Benefit Obligation at measurement date 224    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 24    
Pension Plan | Duke Energy Carolinas      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 1,554 1,903  
Service cost 36 47  
Interest cost 84 59 51
Actuarial loss 11 (301)  
Benefits paid (177) (159)  
Transfers (6) (5)  
Obligation at measurement date 1,514 1,554 1,903
Accumulated Benefit Obligation at measurement date 1,517 1,556  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 1,815 2,365  
Employer contributions 26 15  
Actual return on plan assets 183 (411)  
Benefits paid (177) (159)  
Transfers 6 5  
Plan assets at measurement date 1,853 1,815 2,365
Funded status of plan 339 261  
Pension Plan | Duke Energy Carolinas | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (1)    
Obligation at measurement date 10    
Accumulated Benefit Obligation at measurement date 10    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 1    
Pension Plan | Progress Energy      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 1,975 2,560  
Service cost 30 40  
Interest cost 107 77 70
Actuarial loss 47 (513)  
Benefits paid (159) (184)  
Transfers 10 5  
Obligation at measurement date 1,990 1,975 2,560
Accumulated Benefit Obligation at measurement date 1,975 1,959  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 2,371 3,053  
Employer contributions 22 13  
Actual return on plan assets 229 (506)  
Benefits paid (159) (184)  
Transfers (10) (5)  
Plan assets at measurement date 2,453 2,371 3,053
Funded status of plan 463 396  
Pension Plan | Progress Energy | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (8)    
Obligation at measurement date 78    
Accumulated Benefit Obligation at measurement date 78    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 8    
Pension Plan | Duke Energy Progress      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 909 1,153  
Service cost 18 24  
Interest cost 49 35 30
Actuarial loss 18 (197)  
Benefits paid (80) (101)  
Transfers 3 5  
Obligation at measurement date 911 909 1,153
Accumulated Benefit Obligation at measurement date 912 910  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 1,083 1,421  
Employer contributions 13 8  
Actual return on plan assets 107 (240)  
Benefits paid (80) (101)  
Transfers (3) (5)  
Plan assets at measurement date 1,120 1,083 1,421
Funded status of plan 209 174  
Pension Plan | Duke Energy Progress | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (3)    
Obligation at measurement date 23    
Accumulated Benefit Obligation at measurement date 23    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 3    
Pension Plan | Duke Energy Florida      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 1,055 1,392  
Service cost 12 16  
Interest cost 57 41 39
Actuarial loss 29 (312)  
Benefits paid (78) (82)  
Transfers 6    
Obligation at measurement date 1,069 1,055 1,392
Accumulated Benefit Obligation at measurement date 1,053 1,038  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 1,271 1,610  
Employer contributions 9 5  
Actual return on plan assets 120 (262)  
Benefits paid (78) (82)  
Transfers (6)    
Plan assets at measurement date 1,316 1,271 1,610
Funded status of plan 247 216  
Pension Plan | Duke Energy Florida | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (3)    
Obligation at measurement date 31    
Accumulated Benefit Obligation at measurement date 31    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 3    
Pension Plan | Duke Energy Ohio      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 333 450  
Service cost 3 4  
Interest cost 18 13 13
Actuarial loss 2 (84)  
Benefits paid (31) (50)  
Obligation at measurement date 325 333 450
Accumulated Benefit Obligation at measurement date 317 327  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 323 438  
Employer contributions 5 3  
Actual return on plan assets 29 (68)  
Benefits paid (31) (50)  
Plan assets at measurement date 326 323 438
Funded status of plan 1 (10)  
Pension Plan | Duke Energy Ohio | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at measurement date 2    
Accumulated Benefit Obligation at measurement date 2    
Pension Plan | Duke Energy Indiana      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 499 680  
Service cost 6 8  
Interest cost 27 20 18
Actuarial loss 4 (143)  
Benefits paid (40) (66)  
Obligation at measurement date 496 499 680
Accumulated Benefit Obligation at measurement date 494 495  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 501 669  
Employer contributions 8 5  
Actual return on plan assets 45 (107)  
Benefits paid (40) (66)  
Plan assets at measurement date 514 501 669
Funded status of plan 18 2  
Pension Plan | Duke Energy Indiana | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at measurement date 2    
Accumulated Benefit Obligation at measurement date 2    
Pension Plan | Piedmont      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 170 273  
Service cost 3 5  
Interest cost 9 8 7
Actuarial loss 9 (47)  
Benefits paid (16) (69)  
Obligation at measurement date 175 170 273
Accumulated Benefit Obligation at measurement date 176 170  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 203 334  
Employer contributions 3 2  
Actual return on plan assets 23 (64)  
Benefits paid (16) (69)  
Plan assets at measurement date 213 203 334
Funded status of plan 38 33  
Pension Plan | Piedmont | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at measurement date 2    
Accumulated Benefit Obligation at measurement date 2    
Other Post-Retirement Benefit Plans      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 437 625  
Service cost 2 3 4
Interest cost 22 17 18
Plan participants' contributions 4 11  
Actuarial loss (10) (80)  
Benefits paid (58) (68)  
Transfers 50 (71)  
Obligation at measurement date 347 437 625
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 162 211  
Employer contributions 42    
Actual return on plan assets 19 (31)  
Benefits paid (58) (68)  
Transfers (13)    
Plan participants' contributions 4 11  
Employer contributions   39  
Plan assets at measurement date 156 162 211
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan 0    
Funded status of plan (191) (275)  
Other Post-Retirement Benefit Plans | Duke Energy Carolinas      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 112 149  
Service cost 1 1 1
Interest cost 5 4 4
Plan participants' contributions 1 2  
Actuarial loss (2) (17)  
Benefits paid (14) (16)  
Transfers 34 (11)  
Obligation at measurement date 69 112 149
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 105 135  
Employer contributions 6    
Actual return on plan assets 8 (19)  
Benefits paid (14) (16)  
Transfers 4    
Plan participants' contributions 1 2  
Employer contributions   3  
Plan assets at measurement date 102 105 135
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan (8)    
Funded status of plan 33 (7)  
Other Post-Retirement Benefit Plans | Progress Energy      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 168 263  
Service cost     1
Interest cost 9 7 7
Plan participants' contributions 1 4  
Actuarial loss (10) (43)  
Benefits paid (22) (26)  
Transfers 0 (37)  
Obligation at measurement date 146 168 263
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date   (1)  
Employer contributions 20    
Benefits paid (22) (26)  
Transfers 0    
Plan participants' contributions 1 4  
Employer contributions   23  
Plan assets at measurement date (1)   (1)
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan 0    
Funded status of plan (147) (168)  
Other Post-Retirement Benefit Plans | Duke Energy Progress      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 95 147  
Interest cost 5 4 4
Plan participants' contributions 1 2  
Actuarial loss (6) (27)  
Benefits paid (11) (13)  
Transfers 0 (18)  
Obligation at measurement date 84 95 147
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date (2) (2)  
Employer contributions 11    
Benefits paid (11) (13)  
Transfers 0    
Plan participants' contributions 1 2  
Employer contributions   11  
Plan assets at measurement date (1) (2) (2)
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan 0    
Funded status of plan (85) (97)  
Other Post-Retirement Benefit Plans | Duke Energy Florida      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 69 112  
Interest cost 4 3 3
Plan participants' contributions 1 2  
Actuarial loss (4) (16)  
Benefits paid (10) (13)  
Transfers 0 (19)  
Obligation at measurement date 60 69 112
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date (2) (2)  
Employer contributions 10    
Benefits paid (10) (13)  
Transfers 0    
Plan participants' contributions 1 2  
Employer contributions   11  
Plan assets at measurement date (1) (2) (2)
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan 0    
Funded status of plan (61) (71)  
Other Post-Retirement Benefit Plans | Duke Energy Ohio      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 20 25  
Interest cost 1 1 1
Plan participants' contributions   1  
Actuarial loss 1 (3)  
Benefits paid (3) (4)  
Transfers 0 0  
Obligation at measurement date 19 20 25
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 7 9  
Employer contributions 2    
Actual return on plan assets 1 (2)  
Benefits paid (3) (4)  
Transfers 0    
Plan participants' contributions   1  
Employer contributions   3  
Plan assets at measurement date 7 7 9
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan 0    
Funded status of plan (12) (13)  
Other Post-Retirement Benefit Plans | Duke Energy Indiana      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 30 54  
Service cost     1
Interest cost 1 1 1
Plan participants' contributions   1  
Actuarial loss (1) (1)  
Benefits paid (6) (8)  
Transfers 0 (17)  
Obligation at measurement date 24 30 54
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 3 6  
Employer contributions 6    
Benefits paid (6) (8)  
Transfers 0    
Plan participants' contributions   1  
Employer contributions   4  
Plan assets at measurement date 3 3 6
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan 0    
Funded status of plan (21) (27)  
Other Post-Retirement Benefit Plans | Piedmont      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 21 27  
Interest cost 1 1 1
Actuarial loss 1 (5)  
Benefits paid (2) (2)  
Transfers 6 0  
Obligation at measurement date 15 21 27
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 31 39  
Employer contributions 1    
Actual return on plan assets 4 (7)  
Benefits paid (2) (2)  
Transfers (7)    
Employer contributions   1  
Plan assets at measurement date 27 31 $ 39
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan 0    
Funded status of plan $ 12 $ 10  
v3.24.0.1
Employee Benefit Plans (Amounts Recognized in Consolidated Balance Sheets) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability $ 485 $ 832
Regulatory assets 17,266 18,130
Regulatory liabilities 15,408 15,048
Duke Energy Carolinas    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 57 38
Regulatory assets 5,480 5,388
Regulatory liabilities 6,577 6,313
Progress Energy    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 266 292
Regulatory assets 8,091 8,979
Regulatory liabilities 5,501 5,329
Duke Energy Progress    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 146 160
Regulatory assets 5,488 5,414
Regulatory liabilities 4,675 4,452
Duke Energy Florida    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 98 111
Regulatory assets 2,603 3,565
Regulatory liabilities 826 877
Duke Energy Ohio    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 97 90
Regulatory assets 749 684
Regulatory liabilities 553 633
Duke Energy Indiana    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 115 122
Regulatory assets 996 1,124
Regulatory liabilities 1,668 1,641
Piedmont    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 8 7
Regulatory assets 571 511
Regulatory liabilities 1,086 1,098
Pension Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 863 885
Noncurrent pension liability   250
Net asset (liability) recognized (863) (635)
Regulatory assets 2,021 2,016
Accumulated other comprehensive (income) loss    
Deferred income tax benefit (27) (27)
Prior service credit (1) (1)
Net actuarial gain 127 129
Net amounts recognized in accumulated other comprehensive income 99 101
Pension Plan | Duke Energy Carolinas    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 339 261
Net asset (liability) recognized (339) (261)
Regulatory assets 531 545
Pension Plan | Progress Energy    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 463 396
Net asset (liability) recognized (463) (396)
Regulatory assets 678 670
Accumulated other comprehensive (income) loss    
Deferred income tax benefit (1) (1)
Net actuarial gain 3 3
Net amounts recognized in accumulated other comprehensive income 2 2
Pension Plan | Duke Energy Progress    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 209 174
Net asset (liability) recognized (209) (174)
Regulatory assets 353 353
Pension Plan | Duke Energy Florida    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 247 216
Net asset (liability) recognized (247) (216)
Regulatory assets 325 316
Pension Plan | Duke Energy Ohio    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 74 62
Noncurrent pension liability 73 72
Net asset (liability) recognized (1) 10
Regulatory assets 89 92
Pension Plan | Duke Energy Indiana    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 105 90
Noncurrent pension liability 87 88
Net asset (liability) recognized (18) (2)
Regulatory assets 176 178
Accumulated other comprehensive (income) loss    
Net actuarial gain 2  
Net amounts recognized in accumulated other comprehensive income 2  
Pension Plan | Piedmont    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 38 33
Net asset (liability) recognized (38) (33)
Regulatory assets 97 84
Other Post-Retirement Benefit Plans    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 12 9
Noncurrent pension liability 179 266
Net asset (liability) recognized 191 275
Regulatory assets 123 50
Regulatory liabilities 230 189
Accumulated other comprehensive (income) loss    
Deferred income tax expense 3 3
Prior service credit   (1)
Net actuarial gain (13) (13)
Net amounts recognized in accumulated other comprehensive income (10) (11)
Other Post-Retirement Benefit Plans | Duke Energy Carolinas    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 61  
Current pension liability 3  
Noncurrent pension liability 25 7
Net asset (liability) recognized (33) 7
Regulatory assets 79  
Regulatory liabilities 106 44
Other Post-Retirement Benefit Plans | Progress Energy    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 5 5
Noncurrent pension liability 142 163
Net asset (liability) recognized 147 168
Regulatory assets 39 46
Accumulated other comprehensive (income) loss    
Net actuarial gain (1)  
Net amounts recognized in accumulated other comprehensive income (1)  
Other Post-Retirement Benefit Plans | Duke Energy Progress    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 3 3
Noncurrent pension liability 82 94
Net asset (liability) recognized 85 97
Regulatory assets 29 34
Other Post-Retirement Benefit Plans | Duke Energy Florida    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 2 2
Noncurrent pension liability 59 69
Net asset (liability) recognized 61 71
Regulatory assets 11 11
Other Post-Retirement Benefit Plans | Duke Energy Ohio    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 1 1
Current pension liability 1 2
Noncurrent pension liability 12 12
Net asset (liability) recognized 12 13
Regulatory assets 2 4
Regulatory liabilities 17 21
Other Post-Retirement Benefit Plans | Duke Energy Indiana    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 21 27
Net asset (liability) recognized 21 27
Regulatory assets 23 25
Regulatory liabilities 74 82
Other Post-Retirement Benefit Plans | Piedmont    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 12 10
Net asset (liability) recognized (12) $ (10)
Regulatory assets $ 1  
v3.24.0.1
Employee Benefit Plans (Information For Plans with Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - Pension Plan - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract]    
Projected benefit obligation   $ 3,323
Accumulated benefit obligation   3,288
Fair value of plan assets   3,073
Duke Energy Ohio    
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract]    
Projected benefit obligation $ 105 103
Accumulated benefit obligation 100 99
Fair value of plan assets 31 31
Duke Energy Indiana    
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract]    
Projected benefit obligation 208 198
Accumulated benefit obligation 203 193
Fair value of plan assets $ 121 $ 110
v3.24.0.1
Employee Benefit Plans (Assumptions Used For Pension Benefits Accounting) (Details)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pension Plan      
Benefit Obligations      
Discount rate (as a percent) 5.40% 5.60% 2.90%
Interest crediting rate (as a percent) 4.15% 4.35% 4.00%
Net Periodic Benefit Cost      
Discount rate (as a percent) 5.60%   2.60%
Interest crediting rate (as a percent) 4.35% 4.00% 4.00%
Expected long-term rate of return on plan assets (as a percent) 8.25% 6.50% 6.50%
Pension Plan | Minimum      
Benefit Obligations      
Salary increase (as a percent) 3.50% 3.50% 3.50%
Net Periodic Benefit Cost      
Discount rate (as a percent)   2.90%  
Salary increase (as a percent) 3.50% 3.50% 3.50%
Expected long-term rate of return on plan assets (as a percent)    
Pension Plan | Maximum      
Benefit Obligations      
Salary increase (as a percent) 4.00% 4.00% 4.00%
Net Periodic Benefit Cost      
Discount rate (as a percent)   5.70%  
Salary increase (as a percent) 4.00% 4.00% 4.00%
Other Post-Retirement Benefit Plans      
Benefit Obligations      
Discount rate (as a percent) 5.40% 5.60% 2.90%
Net Periodic Benefit Cost      
Discount rate (as a percent) 5.60% 2.90% 2.60%
Expected long-term rate of return on plan assets (as a percent)   6.50% 6.50%
Other Post-Retirement Benefit Plans | Minimum      
Net Periodic Benefit Cost      
Expected long-term rate of return on plan assets (as a percent) 6.50%    
Other Post-Retirement Benefit Plans | Maximum      
Net Periodic Benefit Cost      
Expected long-term rate of return on plan assets (as a percent) 8.25%    
v3.24.0.1
Employee Benefit Plans (Expected Benefit Payments) (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Pension Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 $ 634
2025 624
2026 601
2027 582
2028 565
2029-2033 2,481
Pension Plan | Duke Energy Carolinas  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 176
2025 171
2026 162
2027 153
2028 146
2029-2033 590
Pension Plan | Progress Energy  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 180
2025 182
2026 177
2027 175
2028 171
2029-2033 779
Pension Plan | Duke Energy Progress  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 95
2025 97
2026 89
2027 87
2028 84
2029-2033 355
Pension Plan | Duke Energy Florida  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 84
2025 84
2026 86
2027 86
2028 86
2029-2033 420
Pension Plan | Duke Energy Ohio  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 31
2025 30
2026 30
2027 29
2028 29
2029-2033 131
Pension Plan | Duke Energy Indiana  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 45
2025 44
2026 43
2027 42
2028 42
2029-2033 200
Pension Plan | Piedmont  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 18
2025 16
2026 16
2027 15
2028 15
2029-2033 73
Other Post-Retirement Benefit Plans  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 57
2025 47
2026 42
2027 37
2028 34
2029-2033 124
Other Post-Retirement Benefit Plans | Duke Energy Carolinas  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 14
2025 11
2026 10
2027 8
2028 7
2029-2033 23
Other Post-Retirement Benefit Plans | Progress Energy  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 18
2025 17
2026 15
2027 14
2028 13
2029-2033 55
Other Post-Retirement Benefit Plans | Duke Energy Progress  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 11
2025 10
2026 9
2027 8
2028 8
2029-2033 32
Other Post-Retirement Benefit Plans | Duke Energy Florida  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 8
2025 7
2026 6
2027 6
2028 5
2029-2033 23
Other Post-Retirement Benefit Plans | Duke Energy Ohio  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 3
2025 3
2026 3
2027 2
2028 2
2029-2033 7
Other Post-Retirement Benefit Plans | Duke Energy Indiana  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 4
2025 3
2026 3
2027 3
2028 2
2029-2033 8
Other Post-Retirement Benefit Plans | Piedmont  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2024 2
2025 2
2026 2
2027 2
2028 2
2029-2033 $ 7
v3.24.0.1
Employee Benefit Plans (Assumed Health Care Cost Trend Rates) (Details)
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]    
Health care cost trend rate assumed for next year (as a percent) 6.50% 6.50%
Rate to which the cost trend is assumed to decline (the ultimate trend rate) (as a percent) 4.75% 4.75%
Maximum    
Defined Benefit Plan Disclosure [Line Items]    
Health care cost trend rate assumed for next year (as a percent) 0.00% 6.50%
v3.24.0.1
Employee Benefit Plans (Target and Actual Asset Allocations) (Details)
Dec. 31, 2023
Dec. 31, 2022
Master Trust    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 100.00%  
Actual asset allocation 100.00% 100.00%
Master Trust | Global equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 45.00%  
Actual asset allocation 45.00% 49.00%
Master Trust | Global private equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 2.00%  
Actual asset allocation 2.00% 2.00%
Master Trust | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 35.00%  
Actual asset allocation 35.00% 30.00%
Master Trust | Return seeking debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 7.00%  
Actual asset allocation 6.00% 7.00%
Master Trust | Hedge funds    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 4.00%  
Actual asset allocation 4.00% 6.00%
Master Trust | Real estate and cash    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 7.00%  
Actual asset allocation 8.00% 6.00%
OPEB    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 100.00%  
Actual asset allocation 100.00% 100.00%
OPEB | U.S. equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 29.00%  
Actual asset allocation 30.00% 12.00%
OPEB | Non-U.S. equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 15.00%  
Actual asset allocation 15.00% 5.00%
OPEB | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 47.00%  
Actual asset allocation 30.00% 11.00%
OPEB | Real estate    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 5.00%  
Actual asset allocation 7.00% 3.00%
OPEB | Cash    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 4.00%  
Actual asset allocation 18.00% 69.00%
Other Post-Retirement Benefit Plans | Master Trust    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 100.00%  
Actual asset allocation 100.00% 100.00%
Other Post-Retirement Benefit Plans | Master Trust | Global equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 14.00%  
Actual asset allocation 14.00% 14.00%
Other Post-Retirement Benefit Plans | Master Trust | Global private equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 1.00%  
Other Post-Retirement Benefit Plans | Master Trust | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 80.00%  
Actual asset allocation 79.00% 80.00%
Other Post-Retirement Benefit Plans | Master Trust | Return seeking debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 2.00%  
Actual asset allocation 2.00% 2.00%
Other Post-Retirement Benefit Plans | Master Trust | Hedge funds    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 1.00%  
Actual asset allocation 2.00% 2.00%
Other Post-Retirement Benefit Plans | Master Trust | Real estate and cash    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 2.00%  
Actual asset allocation 3.00% 2.00%
v3.24.0.1
Employee Benefit Plans (Fair Value Measurements of Plan Assets - Master Retirement Trust) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets $ 7,241 $ 7,073  
OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets $ 20 $ 33  
Duke Energy Carolinas | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 27.00% 27.00%  
Progress Energy | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 33.00% 33.00%  
Duke Energy Progress | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 15.00% 15.00%  
Duke Energy Florida | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 18.00% 18.00%  
Duke Energy Ohio | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 5.00% 5.00%  
Duke Energy Indiana | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 7.00% 7.00%  
Piedmont | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 3.00% 3.00%  
Equity securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets $ 2,221 $ 2,234  
Equity securities | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 9 12  
Corporate debt securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 2,807 2,944  
Short-term investment funds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 233 193  
Partnership interests | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 76 62  
Hedge funds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 164 209  
Real estate | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1 2  
U.S. government bonds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1,571 1,254  
Governments bonds – foreign | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 107 112  
Cash | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 7 45  
Government and commercial mortgage-backed securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1 6  
Net pending transactions and other investments | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 54 14  
Cash and cash equivalents | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 4 11  
Debt securities | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 6 8  
Level 1 | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 2,042 2,065  
Level 1 | Equity securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1,995 2,014  
Level 1 | Short-term investment funds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets   1  
Level 1 | Cash | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 7 45  
Level 1 | Net pending transactions and other investments | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 40 5  
Level 2 | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 4,944 4,711  
Level 2 | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 20 33  
Level 2 | Equity securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 211 194  
Level 2 | Equity securities | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 9 12  
Level 2 | Corporate debt securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 2,807 2,944  
Level 2 | Short-term investment funds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 233 192  
Level 2 | Real estate | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1 2  
Level 2 | U.S. government bonds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1,571 1,254  
Level 2 | Governments bonds – foreign | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 107 112  
Level 2 | Government and commercial mortgage-backed securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1 6  
Level 2 | Net pending transactions and other investments | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 14 9  
Level 2 | Cash and cash equivalents | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 4 11  
Level 2 | Debt securities | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 6 8  
Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 76 62 $ 95
Level 3 | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 76 62  
Level 3 | Partnership interests | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 76 62  
Not Categorized | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 179 235  
Not Categorized | Equity securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 15 26  
Not Categorized | Hedge funds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets $ 164 $ 209  
v3.24.0.1
Employee Benefit Plans (Reconciliation of Assets Measured at Fair Value on a Recurring Basis) (Details) - Level 3 - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Plan assets at prior measurement date $ 62 $ 95
Sales (8) (18)
Total gains and other, net 22 (8)
Transfer of Level 3 assets from other classifications   (7)
Plan assets at measurement date $ 76 $ 62
v3.24.0.1
Employee Benefit Plans (Employee Savings Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions $ 238 $ 246 $ 229
Duke Energy Carolinas      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 75 76 70
Progress Energy      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 62 65 60
Duke Energy Progress      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 40 43 39
Duke Energy Florida      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 22 22 21
Duke Energy Ohio      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 6 6 5
Duke Energy Indiana      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 13 12 12
Piedmont      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions $ 13 $ 13 $ 11
v3.24.0.1
Income Taxes (Narrative) (Details) - State
$ in Millions
 3 Months Ended
Dec. 31, 2021
USD ($)
Income Tax Disclosure [Line Items]  
Reduction in deferred tax liability $ 490
Reduction of deferred tax assets $ 25
v3.24.0.1
Income Taxes (Components of Income Tax Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Current income taxes      
Federal(b) $ 71 $ 1 $ (2)
State 1 (8) 1
Foreign 3 4 2
Total current income taxes 75 (3) 1
Deferred income taxes      
Federal 319 328 275
State 53 (14)  
Total deferred income taxes 372 314 275
ITC amortization (9) (11) (8)
Income tax expense from continuing operations 438 300 268
Tax benefit from discontinued operations (359) (503) (76)
Total income tax expense included in Consolidated Statements of Operations 79 (203) 192
Net operating loss carry forward 214 550 250
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Domestic 4,700 3,991 3,947
Foreign 67 87 44
Income from continuing operations before income taxes 4,767 4,078 3,991
Alternative minimum tax 69    
Duke Energy Carolinas      
Current income taxes      
Federal(b) 173 (71) 241
State 22 (13) 23
Total current income taxes 195 (84) 264
Deferred income taxes      
Federal (43) 230 (130)
State (7) (16) (79)
Total deferred income taxes (50) 214 (209)
ITC amortization (4) (4) (4)
Income tax expense from continuing operations 141 126 51
Total income tax expense included in Consolidated Statements of Operations 141 126 51
Net operating loss carry forward 2 97 32
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 1,611 1,726 1,387
Progress Energy      
Current income taxes      
Federal(b) 459 (13) (15)
State 38 (3) (4)
Total current income taxes 497 (16) (19)
Deferred income taxes      
Federal (154) 310 203
State 38 59 47
Total deferred income taxes (116) 369 250
ITC amortization (4) (5) (4)
Income tax expense from continuing operations 377 348 227
Total income tax expense included in Consolidated Statements of Operations 377 348 227
Net operating loss carry forward 116 128 95
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 2,333 2,176 1,826
Duke Energy Progress      
Current income taxes      
Federal(b) 198 37 113
State 4   8
Total current income taxes 202 37 121
Deferred income taxes      
Federal (69) 118 (16)
State 19 7 (26)
Total deferred income taxes (50) 125 (42)
ITC amortization (3) (4) (4)
Income tax expense from continuing operations 149 158 75
Total income tax expense included in Consolidated Statements of Operations 149 158 75
Net operating loss carry forward 59 9 14
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 1,147 1,166 1,066
Duke Energy Florida      
Current income taxes      
Federal(b) 279 (37) (75)
State 71 (23) (17)
Total current income taxes 350 (60) (92)
Deferred income taxes      
Federal (89) 201 202
State   84 77
Total deferred income taxes (89) 285 279
Income tax expense from continuing operations 261 225 187
Total income tax expense included in Consolidated Statements of Operations 261 225 187
Net operating loss carry forward 5 111 64
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 1,277 1,134 925
Proceeds from sale of PTCs 28    
Duke Energy Ohio      
Current income taxes      
Federal(b) (46) (2) (8)
State (3) 1 (2)
Total current income taxes (49) (1) (10)
Deferred income taxes      
Federal 111 (22) 35
State 1 3 5
Total deferred income taxes 112 (19) 40
ITC amortization   (1)  
Income tax expense from continuing operations 63 (21) 30
Total income tax expense included in Consolidated Statements of Operations 63 (21) 30
Net operating loss carry forward 22 7 2
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 397 281 234
Duke Energy Indiana      
Current income taxes      
Federal(b) 10 38 65
State 9 2 7
Total current income taxes 19 40 72
Deferred income taxes      
Federal 77 (63) 19
State 14   16
Total deferred income taxes 91 (63) 35
ITC amortization   (1)  
Income tax expense from continuing operations 110 (24) 107
Total income tax expense included in Consolidated Statements of Operations 110 (24) 107
Net operating loss carry forward 54 13 8
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 607 113 588
Piedmont      
Current income taxes      
Federal(b) 44 32 23
State 3 2 3
Total current income taxes 47 34 26
Deferred income taxes      
Federal 25 12 17
State 12 (7) (13)
Total deferred income taxes 37 5 4
Income tax expense from continuing operations 84 39 30
Total income tax expense included in Consolidated Statements of Operations 84 39 30
Net operating loss carry forward 15 12 3
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes $ 463 $ 362 $ 340
v3.24.0.1
Income Taxes (Effective Tax Rates) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 1,001 $ 856 $ 838
State income tax, net of federal income tax effect 43 (17) 1
Amortization of EDIT (388) (481) (438)
AFUDC equity income (41) (41) (34)
AFUDC equity depreciation 37 36 35
Tax credits(b) (63) (43) (30)
Valuation allowance     (85)
Interest on company-owned life insurance 114    
Other items, net (37) (10) (19)
Income tax expense from continuing operations $ 438 $ 300 $ 268
Effective tax rate (as a percent) 9.20% 7.40% 6.70%
Federal capital gain     $ 426
Domestic Tax Authority      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Favorable adjustment amounts $ 114    
State      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Favorable adjustment amounts 6    
Duke Energy Carolinas      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% 338 $ 362 291
State income tax, net of federal income tax effect 12 (23) (44)
Amortization of EDIT (197) (195) (184)
AFUDC equity income (19) (20) (14)
AFUDC equity depreciation 18 18 18
Tax credits(b) (11) (12) (12)
Other items, net   (4) (4)
Income tax expense from continuing operations $ 141 $ 126 $ 51
Effective tax rate (as a percent) 8.80% 7.30% 3.70%
Progress Energy      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 490 $ 457 $ 384
State income tax, net of federal income tax effect 60 44 34
Amortization of EDIT (114) (133) (174)
AFUDC equity income (14) (14) (11)
AFUDC equity depreciation 13 12 10
Tax credits(b) (46) (16) (11)
Other items, net (12) (2) (5)
Income tax expense from continuing operations $ 377 $ 348 $ 227
Effective tax rate (as a percent) 16.20% 16.00% 12.40%
Duke Energy Progress      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 241 $ 245 $ 224
State income tax, net of federal income tax effect 18 6 (14)
Amortization of EDIT (91) (74) (120)
AFUDC equity income (11) (11) (7)
AFUDC equity depreciation 6 6 5
Tax credits(b) (7) (9) (8)
Other items, net (7) (5) (5)
Income tax expense from continuing operations $ 149 $ 158 $ 75
Effective tax rate (as a percent) 13.00% 13.60% 7.00%
Duke Energy Florida      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 268 $ 238 $ 194
State income tax, net of federal income tax effect 56 48 47
Amortization of EDIT (23) (59) (54)
AFUDC equity income (3) (3) (3)
AFUDC equity depreciation 7 6 5
Tax credits(b) (39) (7) (3)
Other items, net (5) 2 1
Income tax expense from continuing operations $ 261 $ 225 $ 187
Effective tax rate (as a percent) 20.40% 19.80% 20.20%
Duke Energy Ohio      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 83 $ 59 $ 49
State income tax, net of federal income tax effect (2) 3 2
Amortization of EDIT (22) (79) (22)
AFUDC equity income (2) (1) (2)
AFUDC equity depreciation 2 1 2
Tax credits(b) (2) (2) (1)
Other items, net 6 (2) 2
Income tax expense from continuing operations $ 63 $ (21) $ 30
Effective tax rate (as a percent) 15.90% (7.50%) 12.80%
Duke Energy Indiana      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 128 $ 24 $ 123
State income tax, net of federal income tax effect 18 2 18
Amortization of EDIT (33) (48) (34)
AFUDC equity income (2) (2) (4)
AFUDC equity depreciation 4 4 5
Tax credits(b) (2) (3) (2)
Other items, net (3) (1) 1
Income tax expense from continuing operations $ 110 $ (24) $ 107
Effective tax rate (as a percent) 18.10% (21.20%) 18.20%
Piedmont      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 97 $ 76 $ 71
State income tax, net of federal income tax effect 12 (4) (8)
Amortization of EDIT (20) (23) (25)
AFUDC equity income (4) (2) (4)
Tax credits(b) (1) (8) (4)
Income tax expense from continuing operations $ 84 $ 39 $ 30
Effective tax rate (as a percent) 18.10% 10.80% 8.80%
v3.24.0.1
Income Taxes (Deferred Income Taxes) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities $ 327 $ 348
Lease obligations 418 405
Pension, post-retirement and other employee benefits 65 192
Progress Energy merger purchase accounting adjustments 260 301
Tax credits and NOL carryforwards 4,489 4,426
Other 102 106
Valuation allowance (544) (519)
Total deferred income tax assets 5,117 5,259
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (1,812) (1,671)
Accelerated depreciation rates (11,969) (11,478)
Regulatory assets and deferred debits, net (1,892) (2,074)
Total deferred income tax liabilities (15,673) (15,223)
Net deferred income tax liabilities (10,556) (9,964)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 4,489 4,426
Valuation allowance 544 519
General Business Credits    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 2,388  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 2,388  
Foreign Tax Credit    
Deferred Tax Assets, Gross [Abstract]    
Valuation allowance (389)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Valuation allowance 389  
Foreign Tax Credit | Federal    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 1,155  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 1,155  
State Carryforward And Credits | State    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 390  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 390  
Corporate AMT Credit Cards    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 278  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 278  
Federal Capital Loss    
Deferred Tax Assets, Gross [Abstract]    
Valuation allowance (29)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Valuation allowance 29  
Federal Capital Loss | Federal    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 73  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 73  
NOL Carryforwards | Federal    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 193  
Valuation allowance (4)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 193  
Valuation allowance 4  
NOL Carryforwards | State    
Deferred Tax Assets, Gross [Abstract]    
Valuation allowance (110)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Valuation allowance 110  
NOL Carryforwards | Foreign    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 12  
Valuation allowance (12)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 12  
Valuation allowance 12  
Duke Energy Carolinas    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 194 170
Lease obligations 86 89
Pension, post-retirement and other employee benefits (41) (1)
Tax credits and NOL carryforwards 445 444
Other 29 18
Total deferred income tax assets 713 720
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (1,213) (983)
Accelerated depreciation rates (3,411) (3,410)
Regulatory assets and deferred debits, net (468) (480)
Total deferred income tax liabilities (5,092) (4,873)
Net deferred income tax liabilities (4,379) (4,153)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 445 444
Progress Energy    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 77 117
Lease obligations 256 263
Pension, post-retirement and other employee benefits (22) 12
Tax credits and NOL carryforwards 686 618
Other 22 22
Total deferred income tax assets 1,019 1,032
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (596) (521)
Accelerated depreciation rates (4,557) (4,358)
Regulatory assets and deferred debits, net (1,063) (1,300)
Total deferred income tax liabilities (6,216) (6,179)
Net deferred income tax liabilities (5,197) (5,147)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 686 618
Duke Energy Progress    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 21 33
Lease obligations 179 197
Pension, post-retirement and other employee benefits (1) 18
Tax credits and NOL carryforwards 230 167
Other 12 12
Total deferred income tax assets 441 427
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (520) (432)
Accelerated depreciation rates (1,823) (1,844)
Regulatory assets and deferred debits, net (658) (628)
Total deferred income tax liabilities (3,001) (2,904)
Net deferred income tax liabilities (2,560) (2,477)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 230 167
Duke Energy Florida    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 56 83
Lease obligations 77 65
Pension, post-retirement and other employee benefits (25) (10)
Tax credits and NOL carryforwards 425 412
Other 8 10
Total deferred income tax assets 541 560
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (91) (102)
Accelerated depreciation rates (2,778) (2,576)
Regulatory assets and deferred debits, net (405) (671)
Total deferred income tax liabilities (3,274) (3,349)
Net deferred income tax liabilities (2,733) (2,789)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 425 412
Duke Energy Ohio    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 13 12
Lease obligations 4 4
Pension, post-retirement and other employee benefits 5 9
Tax credits and NOL carryforwards 44 20
Regulatory liabilities and deferred credits   3
Investments and other assets   3
Other 5 5
Total deferred income tax assets 71 56
Deferred Tax Liabilities, Gross [Abstract]    
Accelerated depreciation rates (1,314) (1,192)
Regulatory assets and deferred debits, net (29)  
Total deferred income tax liabilities (1,343) (1,192)
Net deferred income tax liabilities (1,272) (1,136)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 44 20
Duke Energy Indiana    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 18 23
Lease obligations 15 15
Pension, post-retirement and other employee benefits 2 10
Tax credits and NOL carryforwards 154 208
Regulatory liabilities and deferred credits 47 61
Investments and other assets 1  
Other 5 2
Total deferred income tax assets 242 319
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets   (12)
Accelerated depreciation rates (1,678) (1,606)
Total deferred income tax liabilities (1,678) (1,618)
Net deferred income tax liabilities (1,436) (1,299)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 154 208
Piedmont    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 42 24
Lease obligations 3 3
Pension, post-retirement and other employee benefits (5) (2)
Tax credits and NOL carryforwards 50 37
Other 9 9
Total deferred income tax assets 99 71
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (37) (28)
Accelerated depreciation rates (944) (892)
Regulatory assets and deferred debits, net (51) (21)
Total deferred income tax liabilities (1,032) (941)
Net deferred income tax liabilities (933) (870)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards $ 50 $ 37
v3.24.0.1
Income Taxes (Other Disclosures) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits – January 1 $ 65 $ 51 $ 125
Gross decreases – tax positions in prior periods(a) (15)   (86)
Gross increases – current period tax positions 12 14 12
Total changes (3) 14 (74)
Unrecognized tax benefits – December 31 62 65 51
Federal capital gain     426
Amount that if recognized, would affect the effective tax rate or regulatory liability 57    
Valuation allowance 544 519  
Foreign Tax Credit      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Valuation allowance 389    
Federal Capital Loss      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Valuation allowance 29    
Duke Energy Carolinas      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits – January 1 17 13 10
Gross increases – current period tax positions 4 4 3
Total changes 4 4 3
Unrecognized tax benefits – December 31 21 17 13
Amount that if recognized, would affect the effective tax rate or regulatory liability 20    
Progress Energy      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits – January 1 19 15 10
Gross increases – current period tax positions 5 4 5
Total changes 5 4 5
Unrecognized tax benefits – December 31 24 19 15
Amount that if recognized, would affect the effective tax rate or regulatory liability 22    
Duke Energy Progress      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits – January 1 13 10 6
Gross increases – current period tax positions 5 3 4
Total changes 5 3 4
Unrecognized tax benefits – December 31 18 13 10
Amount that if recognized, would affect the effective tax rate or regulatory liability 16    
Duke Energy Florida      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits – January 1 5 4 3
Gross increases – current period tax positions 1 1 1
Total changes 1 1 1
Unrecognized tax benefits – December 31 6 5 4
Amount that if recognized, would affect the effective tax rate or regulatory liability 6    
Duke Energy Ohio      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits – January 1 1 1 1
Gross increases – current period tax positions 1    
Total changes 1    
Unrecognized tax benefits – December 31 2 1 1
Amount that if recognized, would affect the effective tax rate or regulatory liability 2    
Duke Energy Indiana      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits – January 1 2 2 1
Gross increases – current period tax positions 1   1
Total changes 1   1
Unrecognized tax benefits – December 31 3 2 2
Amount that if recognized, would affect the effective tax rate or regulatory liability 3    
Piedmont      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits – January 1 9 4 1
Gross increases – current period tax positions 2 5 3
Total changes 2 5 3
Unrecognized tax benefits – December 31 11 $ 9 $ 4
Amount that if recognized, would affect the effective tax rate or regulatory liability $ 10    
v3.24.0.1
Other Income and Expenses, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income $ 29 $ 27 $ 13
AFUDC equity 198 197 171
Post-in-service equity returns 39 34 39
Nonoperating income, other 332 134 413
Other income and expense, net 598 392 636
Duke Energy Carolinas      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 10 2 4
AFUDC equity 91 98 65
Post-in-service equity returns 19 14 21
Nonoperating income, other 118 107 180
Other income and expense, net 238 221 270
Progress Energy      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 14 24 8
AFUDC equity 67 68 51
Post-in-service equity returns 19 18 16
Nonoperating income, other 101 71 140
Other income and expense, net 201 181 215
Duke Energy Progress      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 9 4 6
AFUDC equity 52 52 34
Post-in-service equity returns 19 18 16
Nonoperating income, other 44 40 87
Other income and expense, net 124 114 143
Duke Energy Florida      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 7 20 2
AFUDC equity 15 16 16
Nonoperating income, other 56 38 53
Other income and expense, net 78 74 71
Duke Energy Ohio      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 25 11 4
AFUDC equity 9 7 7
Post-in-service equity returns 1 1 1
Nonoperating income, other 6   6
Other income and expense, net 41 19 18
Duke Energy Indiana      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 25 15 6
AFUDC equity 10 13 27
Post-in-service equity returns   1 1
Nonoperating income, other 41 7 8
Other income and expense, net 76 36 42
Piedmont      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 19 19 19
AFUDC equity 21 11 20
Nonoperating income, other 17 16 16
Other income and expense, net $ 57 $ 46 $ 55
v3.24.0.1
Quarterly Financial Data (Unaudited) (Schedule of Quarterly Financial Information) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]                      
Operating revenues $ 7,212 $ 7,994 $ 6,578 $ 7,276 $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 29,060 $ 28,768 $ 24,621
Operating income (loss) 1,855 2,111 1,430 1,674 1,194 2,056 1,448 1,314 7,070 6,012 5,500
Income (loss) from continuing operations 1,135 1,473 751 970 635 1,410 898 835 4,329 3,778 3,723
(Loss) Income from discontinued operations, net of tax (139) (152) (955) (209) (1,293) 3 (18) (15) (1,455) (1,323) (144)
Net income (loss) 996 1,321 (204) 761 (658) 1,413 880 820 2,874 2,455 3,579
Net Income available to Duke Energy common stockholders $ 991 $ 1,213 $ (234) $ 765 $ (650) $ 1,383 $ 893 $ 818 $ 2,735 $ 2,444 $ 3,802
Income from continuing operations available to Duke Energy Corporation common stockholders                      
Basic (usd per share) $ 1.41 $ 1.83 $ 0.91 $ 1.20 $ 0.80 $ 1.78 $ 1.11 $ 1.06 $ 5.35 $ 4.74 $ 4.68
Diluted (usd per share) 1.41 1.83 0.91 1.20 0.80 1.78 1.11 1.06 5.35 4.74 4.68
Loss from discontinued operations attributable to Duke Energy Corporation common stockholders                      
Basic (usd per share) (0.14) (0.24) (1.23) (0.19) (1.66) 0.03 0.03 0.02 (1.81) (1.57) 0.26
Diluted (usd per share) (0.14) (0.24) (1.23) (0.19) (1.66) 0.03 0.03 0.02 (1.81) (1.57) 0.26
Net income available to Duke Energy Corporation common stockholders                      
Basic (usd per share) 1.27 1.59 (0.32) 1.01 (0.86) 1.81 1.14 1.08 3.54 3.17 4.94
Diluted (usd per share) $ 1.27 $ 1.59 $ (0.32) $ 1.01 $ (0.86) $ 1.81 $ 1.14 $ 1.08 $ 3.54 $ 3.17 $ 4.94