DUKE ENERGY CORP, 10-K filed on 2/27/2023
Annual Report
v3.22.4
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2022
Jan. 31, 2023
Jun. 30, 2022
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2022    
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 526 South Church Street    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28202-1803    
City Area Code 704    
Local Phone Number 382-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 82,471,565
Entity Common Stock, Shares Outstanding   770,080,285  
Documents Incorporated by Reference
Portions of the Duke Energy definitive proxy statement for the 2023 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 2022    
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 526 South Church Street    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28202-1803    
City Area Code 704    
Local Phone Number 382-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth 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 410 South Wilmington Street    
Entity Address, City or Town Raleigh    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 27601-1748    
City Area Code 704    
Local Phone Number 382-3853    
Entity Well-known Seasoned Issuer No    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Central Index Key 0001094093    
Duke Energy Progress      
Document Information [Line Items]      
Entity File Number 1-3382    
Entity Registrant Name DUKE ENERGY PROGRESS, LLC    
Entity Tax Identification Number 56-0165465    
Entity Incorporation, State or Country Code NC    
Entity Address, Address Line One 410 South Wilmington Street    
Entity Address, City or Town Raleigh    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 27601-1748    
City Area Code 704    
Local Phone Number 382-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth 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 704    
Local Phone Number 382-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth 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 704    
Local Phone Number 382-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Central Index Key 0000020290    
Duke Energy Indiana      
Document Information [Line Items]      
Entity File Number 1-3543    
Entity Registrant Name DUKE ENERGY INDIANA, LLC    
Entity Tax Identification Number 35-0594457    
Entity Incorporation, State or Country Code IN    
Entity Address, Address Line One 1000 East Main Street    
Entity Address, City or Town Plainfield    
Entity Address, State or Province IN    
Entity Address, Postal Zip Code 46168    
City Area Code 704    
Local Phone Number 382-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth 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 4720 Piedmont Row Drive    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28210    
City Area Code 704    
Local Phone Number 364-3120    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Central Index Key 0000078460    
v3.22.4
Audit Information
 12 Months Ended
Dec. 31, 2022
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
v3.22.4
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Revenues      
Regulated electric $ 25,759 $ 22,319 $ 21,461
Regulated natural gas 2,724 2,008 1,642
Nonregulated electric and other 285 294 263
Total operating revenues 28,768 24,621 23,366
Operating Expenses      
Operation, maintenance and other 5,734 5,703 5,502
Depreciation and amortization 5,086 4,762 4,504
Property and other taxes 1,466 1,355 1,311
Impairment of assets and other charges 434 353 978
Total operating expenses 22,778 19,133 18,806
Gains on Sales of Other Assets and Other, net 22 12 11
Operating Income 6,012 5,500 4,571
Other Income and Expenses      
Equity in earnings (losses) of unconsolidated affiliates 113 62 (2,005)
Other income and expenses, net 392 636 451
Total other income and expenses 505 698 (1,554)
Interest Expense 2,439 2,207 2,097
Income From Continuing Operations Before Income Taxes 4,078 3,991 920
Income Tax Expense (Benefit) From Continuing Operations 300 268 (169)
Income From Continuing Operations 3,778 3,723 1,089
Loss From Discontinued Operations, net of tax (1,323) (144) (7)
Net Income 2,455 3,579 1,082
Add: Net Loss Attributable to Noncontrolling Interests 95 329 295
Net Income Attributable to Parent 2,550 3,908 1,377
Less: Preferred Dividends 106 106 107
Net Income Available to Common Stockholders 2,444 3,802 1,270
Other Comprehensive Income, net of tax      
Pension and OPEB adjustments [1] (19) 7 6
Net unrealized gain on cash flow hedges [1] 285 (68) (138)
Unrealized (losses) gains on available-for-sale securities [1] (21) (8) 3
Other Comprehensive Income (Loss), net of tax [1] 174 (56) (118)
Comprehensive Income 2,629 3,523 964
Add: Comprehensive Loss Attributable to Noncontrolling Interests (84) (319) (306)
Comprehensive Income Attributable to Duke Energy Corporation $ 2,713 $ 3,842 $ 1,270
Income from continuing operations available to Duke Energy Corporation common stockholders      
Basic (usd per share) $ 4.74 $ 4.68 $ 1.33
Diluted (usd per share) 4.74 4.68 1.33
(Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders      
Basic (usd per share) (1.57) 0.26 0.39
Diluted (usd per share) (1.57) 0.26 0.39
Net income available to Duke Energy Corporation common stockholders      
Basic (usd per share) 3.17 4.94 1.72
Diluted (usd per share) $ 3.17 $ 4.94 $ 1.72
Weighted average shares outstanding      
Basic (in shares) 770 769 737
Diluted (in shares) 770 769 738
Fuel used in electric generation and purchased power      
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas $ 8,782 $ 6,255 $ 6,051
Cost of natural gas      
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 1,276 705 460
Duke Energy Carolinas      
Operating Revenues      
Total operating revenues 7,857 7,102 7,015
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 2,015 1,601 1,682
Operation, maintenance and other 1,892 1,833 1,743
Depreciation and amortization 1,526 1,468 1,462
Property and other taxes 340 320 299
Impairment of assets and other charges 26 227 476
Total operating expenses 5,799 5,449 5,662
Gains on Sales of Other Assets and Other, net 4 2 1
Operating Income 2,062 1,655 1,354
Other Income and Expenses      
Other income and expenses, net 221 270 177
Total other income and expenses 221 270 177
Interest Expense 557 538 487
Income From Continuing Operations Before Income Taxes 1,726 1,387 1,044
Income Tax Expense (Benefit) From Continuing Operations 126 51 88
Net Income Attributable to Parent 1,600 1,336 956
Other Comprehensive Income, net of tax      
Net unrealized gain on cash flow hedges   1  
Other Comprehensive Income (Loss), net of tax   1  
Comprehensive Income Attributable to Duke Energy Corporation 1,600 1,337 956
Progress Energy      
Operating Revenues      
Total operating revenues 13,125 11,057 10,627
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 5,078 3,584 3,479
Operation, maintenance and other 2,458 2,529 2,479
Depreciation and amortization 2,142 1,929 1,818
Property and other taxes 607 542 545
Impairment of assets and other charges 12 82 495
Total operating expenses 10,297 8,666 8,816
Gains on Sales of Other Assets and Other, net 11 14 9
Operating Income 2,839 2,405 1,820
Other Income and Expenses      
Other income and expenses, net 181 215 129
Total other income and expenses 181 215 129
Interest Expense 844 794 790
Income Before Income Taxes 2,176 1,826 1,159
Income Tax Expense (Benefit) From Continuing Operations 348 227 113
Net Income 1,828 1,599 1,046
Add: Net Loss Attributable to Noncontrolling Interests   (1) (1)
Net Income Attributable to Parent 1,828 1,598 1,045
Other Comprehensive Income, net of tax      
Pension and OPEB adjustments 5 1 (1)
Net unrealized gain on cash flow hedges 1 3 5
Unrealized (losses) gains on available-for-sale securities (6)   (1)
Other Comprehensive Income (Loss), net of tax 0 4 3
Comprehensive Income 1,828 1,603 1,049
Add: Comprehensive Loss Attributable to Noncontrolling Interests   1 1
Comprehensive Income Attributable to Duke Energy Corporation 1,828 1,602 1,048
Duke Energy Progress      
Operating Revenues      
Total operating revenues 6,753 5,780 5,422
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 2,492 1,778 1,743
Operation, maintenance and other 1,475 1,467 1,332
Depreciation and amortization 1,187 1,097 1,116
Property and other taxes 190 159 167
Impairment of assets and other charges 7 63 499
Total operating expenses 5,351 4,564 4,857
Gains on Sales of Other Assets and Other, net 4 13 8
Operating Income 1,406 1,229 573
Other Income and Expenses      
Other income and expenses, net 114 143 75
Total other income and expenses 114 143 75
Interest Expense 354 306 269
Income From Continuing Operations Before Income Taxes 1,166 1,066 379
Income Tax Expense (Benefit) From Continuing Operations 158 75 (36)
Net Income Attributable to Parent 1,008 991 415
Other Comprehensive Income, net of tax      
Comprehensive Income Attributable to Duke Energy Corporation 1,008 991 415
Duke Energy Florida      
Operating Revenues      
Total operating revenues 6,353 5,259 5,188
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 2,586 1,806 1,737
Operation, maintenance and other 967 1,048 1,131
Depreciation and amortization 955 831 702
Property and other taxes 421 383 381
Impairment of assets and other charges 4 19 (4)
Total operating expenses 4,933 4,087 3,947
Gains on Sales of Other Assets and Other, net 2 1 1
Operating Income 1,422 1,173 1,242
Other Income and Expenses      
Other income and expenses, net 74 71 53
Total other income and expenses 74 71 53
Interest Expense 362 319 326
Income From Continuing Operations Before Income Taxes 1,134 925 969
Income Tax Expense (Benefit) From Continuing Operations 225 187 198
Net Income Attributable to Parent 909 738 771
Other Comprehensive Income, net of tax      
Unrealized (losses) gains on available-for-sale securities (5) (1) (1)
Other Comprehensive Income (Loss), net of tax (5) (1) (1)
Comprehensive Income Attributable to Duke Energy Corporation 904 737 770
Duke Energy Ohio      
Operating Revenues      
Regulated electric 1,798 1,493 1,405
Regulated natural gas 716 544 453
Total operating revenues 2,514 2,037 1,858
Operating Expenses      
Operation, maintenance and other 523 479 463
Depreciation and amortization 324 307 278
Property and other taxes 369 355 324
Impairment of assets and other charges (10) 25  
Total operating expenses 2,124 1,711 1,477
Gains on Sales of Other Assets and Other, net 1 1  
Operating Income 391 327 381
Other Income and Expenses      
Other income and expenses, net 19 18 16
Total other income and expenses 19 18 16
Interest Expense 129 111 102
Income From Continuing Operations Before Income Taxes 281 234 295
Income Tax Expense (Benefit) From Continuing Operations (21) 30 43
Net Income Attributable to Parent 302 204 252
Other Comprehensive Income, net of tax      
Comprehensive Income Attributable to Duke Energy Corporation 302 204 252
Duke Energy Ohio | Fuel used in electric generation and purchased power      
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 657 409 339
Duke Energy Ohio | Cost of natural gas      
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 261 136 73
Duke Energy Indiana      
Operating Revenues      
Total operating revenues 3,922 3,174 2,795
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 1,819 985 767
Operation, maintenance and other 729 750 762
Depreciation and amortization 645 615 569
Property and other taxes 75 73 81
Impairment of assets and other charges 388 9  
Total operating expenses 3,656 2,432 2,179
Operating Income 266 742 616
Other Income and Expenses      
Other income and expenses, net 36 42 37
Total other income and expenses 36 42 37
Interest Expense 189 196 161
Income From Continuing Operations Before Income Taxes 113 588 492
Income Tax Expense (Benefit) From Continuing Operations (24) 107 84
Net Income Attributable to Parent 137 481 408
Other Comprehensive Income, net of tax      
Comprehensive Income Attributable to Duke Energy Corporation 137 481 408
Piedmont      
Operating Revenues      
Regulated natural gas 2,100 1,555 1,286
Nonregulated electric and other 24 14 11
Total operating revenues 2,124 1,569 1,297
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 1,015 569 386
Operation, maintenance and other 368 327 322
Depreciation and amortization 222 213 180
Property and other taxes 57 55 53
Impairment of assets and other charges 18 10 7
Total operating expenses 1,680 1,174 948
Gains on Sales of Other Assets and Other, net 4 0 0
Operating Income 448 395 349
Other Income and Expenses      
Equity in earnings (losses) of unconsolidated affiliates 8 9 9
Other income and expenses, net 46 55 51
Total other income and expenses 54 64 60
Interest Expense 140 119 118
Income From Continuing Operations Before Income Taxes 362 340 291
Income Tax Expense (Benefit) From Continuing Operations 39 30 18
Net Income 323 310 273
Net Income Attributable to Parent 323 310 273
Other Comprehensive Income, net of tax      
Comprehensive Income Attributable to Duke Energy Corporation $ 323 $ 310 $ 273
[1] Net of income tax expense of approximately $52 million for the year ended December 31, 2022, and income tax benefit of approximately $17 million and $35 million for the years ended December 31, 2021, and 2020, respectively.
v3.22.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Statement of Comprehensive Income [Abstract]      
Net income $ 2,455 $ 3,579 $ 1,082
Other Comprehensive Income, net of tax      
Pension and OPEB adjustments [1] (19) 7 6
Net unrealized gains (losses) on cash flow hedges [1] 285 (68) (138)
Reclassification into earnings from cash flow hedges [1] (38) 13 11
Net unrealized losses on fair value hedges [1] (33)    
Unrealized (losses) gains on available-for-sale securities [1] (21) (8) 3
Other Comprehensive Income (Loss), net of tax [1] 174 (56) (118)
Comprehensive Income 2,629 3,523 964
Add: Comprehensive Loss Attributable to Noncontrolling Interests 84 319 306
Comprehensive Income Attributable to Duke Energy Corporation 2,713 3,842 1,270
Less: Preferred Dividends 106 106 107
Comprehensive Income Available to Duke Energy Corporation Common Stockholders $ 2,607 $ 3,736 $ 1,163
[1] Net of income tax expense of approximately $52 million for the year ended December 31, 2022, and income tax benefit of approximately $17 million and $35 million for the years ended December 31, 2021, and 2020, respectively.
v3.22.4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Statement of Comprehensive Income [Abstract]      
Other comprehensive income (loss), tax expense (benefit) $ 52 $ (17) $ (35)
v3.22.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 409 $ 341
Receivables (net of allowance for doubtful accounts) 1,309 1,085
Receivables of VIEs (net of allowance for doubtful accounts) 3,106 2,437
Inventory 3,584 3,111
Current assets held for sale 262 232
Regulatory assets (includes amounts related to VIEs) 3,485 2,150
Other (including amounts related to VIEs) 1,067 584
Total current assets 13,222 9,940
Property, Plant and Equipment    
Cost 163,839 154,496
Accumulated depreciation and amortization (52,100) (49,104)
Facilities to be retired, net 9 144
Net property, plant and equipment 111,748 105,536
Other Noncurrent Assets    
Goodwill 19,303 19,303
Regulatory assets (includes amounts related to VIEs) 14,645 12,487
Nuclear decommissioning trust funds 8,637 10,401
Operating lease right-of-use assets, net 1,042 1,136
Investments in equity method unconsolidated affiliates 455 457
Noncurrent assets held for sale 5,634 6,695
Other (including amounts related to VIEs) 3,400 3,632
Total other noncurrent assets 53,116 54,111
Total Assets 178,086 169,587
Current Liabilities    
Accounts payable 4,754 3,531
Notes payable and commercial paper 3,952 3,304
Taxes accrued 722 731
Interest accrued 626 530
Current maturities of long-term debt (includes amounts related to VIEs) 4,154 3,387
Asset retirement obligations 773 647
Regulatory liabilities 1,466 1,211
Liabilities associated with assets held for sale 259 167
Other 2,167 2,423
Total current liabilities 18,873 15,931
Long-Term Debt (includes amounts related to VIEs) 67,061 60,448
Other Noncurrent Liabilities    
Deferred income taxes 9,964 9,379
Asset retirement obligations 11,955 11,953
Regulatory liabilities 13,582 16,152
Operating lease liabilities 876 940
Accrued pension and other post-retirement benefit costs 832 855
Investment tax credits 849 833
Noncurrent liabilities associated with assets held for sale 739 612
Other (includes amounts related to VIEs) 1,502 1,348
Total other noncurrent liabilities 40,299 42,072
Commitments and Contingencies
Equity    
Common stock 1 1
Additional paid-in capital 44,862 44,371
Retained earnings 2,637 3,265
Accumulated other comprehensive (loss) income (140) (303)
Total Parent stockholders' equity 49,322 49,296
Noncontrolling interests 2,531 1,840
Total equity 51,853 51,136
Total Liabilities and Equity $ 178,086 $ 169,587
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) $ 106 $ 105
Other (including amounts related to VIEs) 116 41
Other Noncurrent Assets    
Regulatory assets (includes amounts related to VIEs) 1,715 1,824
Other (including amounts related to VIEs) 52 30
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 350 76
Long-Term Debt (includes amounts related to VIEs) 3,108 3,379
Series A Preferred Stock    
Equity    
Preferred stock 973 973
Series B Preferred Stock    
Equity    
Preferred stock 989 989
Duke Energy Carolinas    
Current Assets    
Cash and cash equivalents 44 7
Receivables (net of allowance for doubtful accounts) 338 300
Receivables of VIEs (net of allowance for doubtful accounts) 928 844
Receivables from affiliated companies 390 190
Inventory 1,164 1,026
Regulatory assets (includes amounts related to VIEs) 1,095 544
Other (including amounts related to VIEs) 216 95
Total current assets 4,175 3,006
Property, Plant and Equipment    
Cost 54,650 51,874
Accumulated depreciation and amortization (18,669) (17,854)
Facilities to be retired, net 0 102
Net property, plant and equipment 35,981 34,122
Other Noncurrent Assets    
Regulatory assets (includes amounts related to VIEs) 4,293 2,935
Nuclear decommissioning trust funds 4,783 5,759
Operating lease right-of-use assets, net 78 92
Other (including amounts related to VIEs) 1,036 1,248
Total other noncurrent assets 10,190 10,034
Total Assets 50,346 47,162
Current Liabilities    
Accounts payable 1,472 988
Accounts payable to affiliated companies 209 266
Notes payable to affiliated companies 1,233 226
Taxes accrued 228 274
Interest accrued 120 125
Current maturities of long-term debt (includes amounts related to VIEs) 1,018 362
Asset retirement obligations 261 249
Regulatory liabilities 530 487
Other 580 546
Total current liabilities 5,651 3,523
Long-Term Debt (includes amounts related to VIEs) 12,948 12,595
Long-Term Debt Payable to Affiliated Companies 300 318
Other Noncurrent Liabilities    
Deferred income taxes 4,153 3,634
Asset retirement obligations 5,121 5,052
Regulatory liabilities 5,783 7,198
Operating lease liabilities 83 78
Accrued pension and other post-retirement benefit costs 38 50
Investment tax credits 300 287
Other (includes amounts related to VIEs) 527 536
Total other noncurrent liabilities 16,005 16,835
Commitments and Contingencies
Equity    
Member's equity 15,448 13,897
Accumulated other comprehensive (loss) income (6) (6)
Total member's equity 15,442 13,891
Total Liabilities and Equity 50,346 47,162
Duke Energy Carolinas | VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) 12 12
Other (including amounts related to VIEs) 8  
Other Noncurrent Assets    
Regulatory assets (includes amounts related to VIEs) 208 220
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 10 5
Long-Term Debt (includes amounts related to VIEs) 689 703
Progress Energy    
Current Assets    
Cash and cash equivalents 108 70
Receivables (net of allowance for doubtful accounts) 318 247
Receivables of VIEs (net of allowance for doubtful accounts) 1,289 1,006
Receivables from affiliated companies 22 121
Inventory 1,579 1,398
Regulatory assets (includes amounts related to VIEs) 1,833 1,030
Other (including amounts related to VIEs) 342 125
Total current assets 5,491 3,997
Property, Plant and Equipment    
Cost 64,822 60,894
Accumulated depreciation and amortization (20,584) (19,214)
Facilities to be retired, net   26
Net property, plant and equipment 44,238 41,706
Other Noncurrent Assets    
Goodwill 3,655 3,655
Regulatory assets (includes amounts related to VIEs) 7,146 5,909
Nuclear decommissioning trust funds 3,855 4,642
Operating lease right-of-use assets, net 628 691
Other (including amounts related to VIEs) 1,066 1,242
Total other noncurrent assets 16,350 16,139
Total Assets 66,079 61,842
Current Liabilities    
Accounts payable 1,481 1,099
Accounts payable to affiliated companies 712 506
Notes payable to affiliated companies 843 2,809
Taxes accrued 135 128
Interest accrued 206 192
Current maturities of long-term debt (includes amounts related to VIEs) 697 1,082
Asset retirement obligations 289 275
Regulatory liabilities 576 478
Other 782 868
Total current liabilities 5,721 7,437
Long-Term Debt (includes amounts related to VIEs) 21,592 19,591
Long-Term Debt Payable to Affiliated Companies 150 150
Other Noncurrent Liabilities    
Deferred income taxes 5,147 4,564
Asset retirement obligations 5,892 5,837
Regulatory liabilities 4,753 5,566
Operating lease liabilities 546 606
Accrued pension and other post-retirement benefit costs 292 417
Investment tax credits 358 364
Other (includes amounts related to VIEs) 222 162
Total other noncurrent liabilities 17,210 17,516
Commitments and Contingencies
Equity    
Additional paid-in capital 11,832 9,149
Retained earnings 9,585 8,007
Accumulated other comprehensive (loss) income (11) (11)
Total Parent stockholders' equity 21,406 17,145
Noncontrolling interests   3
Total equity 21,406 17,148
Total Liabilities and Equity $ 66,079 $ 61,842
Common stock, shares authorized (in shares) 100 100
Progress Energy | VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) $ 94 $ 93
Other (including amounts related to VIEs) 88 39
Other Noncurrent Assets    
Regulatory assets (includes amounts related to VIEs) 1,507 1,603
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 340 71
Long-Term Debt (includes amounts related to VIEs) 2,003 2,293
Duke Energy Progress    
Current Assets    
Cash and cash equivalents 49 35
Receivables (net of allowance for doubtful accounts) 167 127
Receivables of VIEs (net of allowance for doubtful accounts) 793 574
Receivables from affiliated companies 25 65
Inventory 1,006 921
Regulatory assets (includes amounts related to VIEs) 690 533
Other (including amounts related to VIEs) 174 83
Total current assets 2,904 2,338
Property, Plant and Equipment    
Cost 38,875 37,018
Accumulated depreciation and amortization (14,201) (13,387)
Facilities to be retired, net   26
Net property, plant and equipment 24,674 23,657
Other Noncurrent Assets    
Regulatory assets (includes amounts related to VIEs) 4,724 4,118
Nuclear decommissioning trust funds 3,430 4,089
Operating lease right-of-use assets, net 370 389
Other (including amounts related to VIEs) 650 792
Total other noncurrent assets 9,174 9,388
Total Assets 36,752 35,383
Current Liabilities    
Accounts payable 601 476
Accounts payable to affiliated companies 508 310
Notes payable to affiliated companies 238 172
Taxes accrued 77 163
Interest accrued 101 96
Current maturities of long-term debt (includes amounts related to VIEs) 369 556
Asset retirement obligations 288 274
Regulatory liabilities 332 381
Other 384 448
Total current liabilities 2,898 2,876
Long-Term Debt (includes amounts related to VIEs) 10,568 9,543
Long-Term Debt Payable to Affiliated Companies 150 150
Other Noncurrent Liabilities    
Deferred income taxes 2,477 2,208
Asset retirement obligations 5,535 5,401
Regulatory liabilities 4,120 4,868
Operating lease liabilities 335 350
Accrued pension and other post-retirement benefit costs 160 221
Investment tax credits 124 128
Other (includes amounts related to VIEs) 76 87
Total other noncurrent liabilities 12,827 13,263
Commitments and Contingencies
Equity    
Total member's equity 10,309 9,551
Total Liabilities and Equity 36,752 35,383
Duke Energy Progress | VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) 39 39
Other (including amounts related to VIEs) 42  
Other Noncurrent Assets    
Regulatory assets (includes amounts related to VIEs) 681 720
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 34 15
Long-Term Debt (includes amounts related to VIEs) 1,114 1,097
Duke Energy Florida    
Current Assets    
Cash and cash equivalents 45 23
Receivables (net of allowance for doubtful accounts) 148 117
Receivables of VIEs (net of allowance for doubtful accounts) 496 432
Receivables from affiliated companies 2 16
Inventory 573 477
Regulatory assets (includes amounts related to VIEs) 1,143 497
Other (including amounts related to VIEs) 108 80
Total current assets 2,515 1,642
Property, Plant and Equipment    
Cost 25,940 23,865
Accumulated depreciation and amortization (6,377) (5,819)
Net property, plant and equipment 19,563 18,046
Other Noncurrent Assets    
Regulatory assets (includes amounts related to VIEs) 2,422 1,791
Nuclear decommissioning trust funds 424 553
Operating lease right-of-use assets, net 258 302
Other (including amounts related to VIEs) 372 399
Total other noncurrent assets 3,476 3,045
Total Assets 25,554 22,733
Current Liabilities    
Accounts payable 880 623
Accounts payable to affiliated companies 177 209
Notes payable to affiliated companies 605 199
Taxes accrued 53 51
Interest accrued 80 68
Current maturities of long-term debt (includes amounts related to VIEs) 328 76
Asset retirement obligations 1 1
Regulatory liabilities 244 98
Other 363 408
Total current liabilities 2,731 1,733
Long-Term Debt (includes amounts related to VIEs) 9,381 8,406
Other Noncurrent Liabilities    
Deferred income taxes 2,789 2,434
Asset retirement obligations 357 436
Regulatory liabilities 633 698
Operating lease liabilities 211 256
Accrued pension and other post-retirement benefit costs 111 166
Investment tax credits 234 236
Other (includes amounts related to VIEs) 84 73
Total other noncurrent liabilities 4,419 4,299
Commitments and Contingencies
Equity    
Member's equity 9,031 8,298
Accumulated other comprehensive (loss) income (8) (3)
Total member's equity 9,023 8,295
Total Liabilities and Equity 25,554 22,733
Duke Energy Florida | VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) 55 54
Other (including amounts related to VIEs) 46 39
Other Noncurrent Assets    
Regulatory assets (includes amounts related to VIEs) 826 883
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 306 56
Long-Term Debt (includes amounts related to VIEs) 890 1,196
Duke Energy Ohio    
Current Assets    
Cash and cash equivalents 16 13
Receivables (net of allowance for doubtful accounts) 73 96
Receivables from affiliated companies 247 122
Notes receivable from affiliated companies   15
Inventory 144 116
Regulatory assets (includes amounts related to VIEs) 103 72
Other (including amounts related to VIEs) 86 57
Total current assets 669 491
Property, Plant and Equipment    
Cost 12,497 11,725
Accumulated depreciation and amortization (3,250) (3,106)
Facilities to be retired, net   6
Net property, plant and equipment 9,247 8,625
Other Noncurrent Assets    
Goodwill 920 920
Regulatory assets (includes amounts related to VIEs) 581 635
Operating lease right-of-use assets, net 18 19
Other (including amounts related to VIEs) 71 84
Total other noncurrent assets 1,590 1,658
Total Assets 11,506 10,774
Current Liabilities    
Accounts payable 380 348
Accounts payable to affiliated companies 72 64
Notes payable to affiliated companies 497 103
Taxes accrued 317 275
Interest accrued 29 30
Current maturities of long-term debt (includes amounts related to VIEs) 475  
Asset retirement obligations 17 13
Regulatory liabilities 99 62
Other 74 82
Total current liabilities 1,960 977
Long-Term Debt (includes amounts related to VIEs) 2,745 3,168
Long-Term Debt Payable to Affiliated Companies 25 25
Other Noncurrent Liabilities    
Deferred income taxes 1,136 1,050
Asset retirement obligations 137 123
Regulatory liabilities 534 739
Operating lease liabilities 17 18
Accrued pension and other post-retirement benefit costs 90 109
Other (includes amounts related to VIEs) 96 101
Total other noncurrent liabilities 2,010 2,140
Commitments and Contingencies
Equity    
Common stock 762 762
Additional paid-in capital 3,100 3,100
Retained earnings 904 602
Total Parent stockholders' equity 4,766 4,464
Total Liabilities and Equity $ 11,506 $ 10,774
Common stock, shares authorized (in shares) 120,000,000 120,000,000
Duke Energy Indiana    
Current Assets    
Cash and cash equivalents $ 31 $ 6
Receivables (net of allowance for doubtful accounts) 112 100
Receivables from affiliated companies 298 98
Notes receivable from affiliated companies   134
Inventory 489 418
Regulatory assets (includes amounts related to VIEs) 249 277
Other (including amounts related to VIEs) 197 68
Total current assets 1,376 1,101
Property, Plant and Equipment    
Cost 18,121 17,343
Accumulated depreciation and amortization (6,021) (5,583)
Net property, plant and equipment 12,100 11,760
Other Noncurrent Assets    
Regulatory assets (includes amounts related to VIEs) 875 1,278
Operating lease right-of-use assets, net 49 53
Other (including amounts related to VIEs) 254 296
Total other noncurrent assets 1,178 1,627
Total Assets 14,654 14,488
Current Liabilities    
Accounts payable 391 282
Accounts payable to affiliated companies 206 221
Notes payable to affiliated companies 435  
Taxes accrued 92 73
Interest accrued 48 49
Current maturities of long-term debt (includes amounts related to VIEs) 303 84
Asset retirement obligations 207 110
Regulatory liabilities 187 127
Other 161 105
Total current liabilities 2,030 1,051
Long-Term Debt (includes amounts related to VIEs) 3,854 4,089
Long-Term Debt Payable to Affiliated Companies 150 150
Other Noncurrent Liabilities    
Deferred income taxes 1,299 1,303
Asset retirement obligations 744 877
Regulatory liabilities 1,454 1,565
Operating lease liabilities 47 50
Accrued pension and other post-retirement benefit costs 122 167
Investment tax credits 186 177
Other (includes amounts related to VIEs) 65 44
Total other noncurrent liabilities 3,917 4,183
Commitments and Contingencies
Equity    
Member's equity 4,702 5,015
Accumulated other comprehensive (loss) income 1  
Total member's equity 4,703 5,015
Total Liabilities and Equity 14,654 14,488
Piedmont    
Current Assets    
Receivables (net of allowance for doubtful accounts) 436 318
Receivables from affiliated companies 11 11
Inventory 172 109
Regulatory assets (includes amounts related to VIEs) 119 141
Other (including amounts related to VIEs) 4 9
Total current assets 742 588
Property, Plant and Equipment    
Cost 10,869 9,918
Accumulated depreciation and amortization (2,081) (1,899)
Facilities to be retired, net 9 11
Net property, plant and equipment 8,797 8,030
Other Noncurrent Assets    
Goodwill 49 49
Regulatory assets (includes amounts related to VIEs) 392 316
Operating lease right-of-use assets, net 4 16
Investments in equity method unconsolidated affiliates 79 95
Other (including amounts related to VIEs) 272 288
Total other noncurrent assets 796 764
Total Assets 10,335 9,382
Current Liabilities    
Accounts payable 345 196
Accounts payable to affiliated companies 51 40
Notes payable to affiliated companies 514 518
Taxes accrued 74 63
Interest accrued 40 37
Current maturities of long-term debt (includes amounts related to VIEs) 45 0
Regulatory liabilities 74 56
Other 81 81
Total current liabilities 1,224 991
Long-Term Debt (includes amounts related to VIEs) 3,318 2,968
Other Noncurrent Liabilities    
Deferred income taxes 870 815
Asset retirement obligations 26 22
Regulatory liabilities 1,024 1,058
Operating lease liabilities 13 14
Accrued pension and other post-retirement benefit costs 7 7
Other (includes amounts related to VIEs) 180 158
Total other noncurrent liabilities 2,120 2,074
Commitments and Contingencies
Equity    
Common stock 1,635 1,635
Retained earnings 2,037 1,714
Total Parent stockholders' equity 3,672 3,349
Noncontrolling interests 1  
Total equity 3,673 3,349
Total Liabilities and Equity $ 10,335 $ 9,382
Common stock, shares authorized (in shares) 100 100
v3.22.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Allowance for doubtful accounts - receivables $ 40 $ 45
Regulatory Assets: Current 3,485 2,150
Current Assets: Other 1,067 584
Other Noncurrent Assets: Regulatory assets 14,645 12,487
Other (including amounts related to VIEs) 3,400 3,632
Current maturities of long-term debt 4,154 3,387
Long-term debt 67,061 60,448
Other (includes amounts related to VIEs) $ 1,502 $ 1,348
Common stock, par value (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) 770,000,000 769,000,000
Membership interests $ 2,531 $ 1,840
Total pretax impact to Retained Earnings 51,853 51,136
Stockholders' Equity Attributable to Parent 49,322 49,296
VIEs    
Allowance for doubtful accounts - receivables of VIEs 176 76
Regulatory Assets: Current 106 105
Current Assets: Other 116 41
Other Noncurrent Assets: Regulatory assets 1,715 1,824
Other (including amounts related to VIEs) 52 30
Current maturities of long-term debt 350 76
Long-term debt $ 3,108 $ 3,379
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
Duke Energy Carolinas    
Allowance for doubtful accounts - receivables $ 3 $ 1
Regulatory Assets: Current 1,095 544
Current Assets: Other 216 95
Other Noncurrent Assets: Regulatory assets 4,293 2,935
Other (including amounts related to VIEs) 1,036 1,248
Current maturities of long-term debt 1,018 362
Long-term debt 12,948 12,595
Other (includes amounts related to VIEs) 527 536
Duke Energy Carolinas | VIEs    
Allowance for doubtful accounts - receivables of VIEs 65 41
Regulatory Assets: Current 12 12
Current Assets: Other 8  
Other Noncurrent Assets: Regulatory assets 208 220
Current maturities of long-term debt 10 5
Long-term debt 689 703
Progress Energy    
Allowance for doubtful accounts - receivables 13 11
Regulatory Assets: Current 1,833 1,030
Current Assets: Other 342 125
Other Noncurrent Assets: Regulatory assets 7,146 5,909
Other (including amounts related to VIEs) 1,066 1,242
Current maturities of long-term debt 697 1,082
Long-term debt 21,592 19,591
Other (includes amounts related to VIEs) $ 222 $ 162
Common stock, par value (usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 100 100
Common stock, shares outstanding (in shares) 100 100
Membership interests   $ 3
Total pretax impact to Retained Earnings $ 21,406 17,148
Stockholders' Equity Attributable to Parent 21,406 17,145
Progress Energy | VIEs    
Allowance for doubtful accounts - receivables of VIEs 68 25
Regulatory Assets: Current 94 93
Current Assets: Other 88 39
Other Noncurrent Assets: Regulatory assets 1,507 1,603
Current maturities of long-term debt 340 71
Long-term debt 2,003 2,293
Duke Energy Progress    
Allowance for doubtful accounts - receivables 4 4
Regulatory Assets: Current 690 533
Current Assets: Other 174 83
Other Noncurrent Assets: Regulatory assets 4,724 4,118
Other (including amounts related to VIEs) 650 792
Current maturities of long-term debt 369 556
Long-term debt 10,568 9,543
Other (includes amounts related to VIEs) 76 87
Duke Energy Progress | VIEs    
Allowance for doubtful accounts - receivables of VIEs 40 17
Regulatory Assets: Current 39 39
Current Assets: Other 42  
Other Noncurrent Assets: Regulatory assets 681 720
Current maturities of long-term debt 34 15
Long-term debt 1,114 1,097
Duke Energy Florida    
Allowance for doubtful accounts - receivables 8 8
Regulatory Assets: Current 1,143 497
Current Assets: Other 108 80
Other Noncurrent Assets: Regulatory assets 2,422 1,791
Other (including amounts related to VIEs) 372 399
Current maturities of long-term debt 328 76
Long-term debt 9,381 8,406
Other (includes amounts related to VIEs) 84 73
Duke Energy Florida | VIEs    
Allowance for doubtful accounts - receivables of VIEs 28 8
Regulatory Assets: Current 55 54
Current Assets: Other 46 39
Other Noncurrent Assets: Regulatory assets 826 883
Current maturities of long-term debt 306 56
Long-term debt 890 1,196
Duke Energy Ohio    
Allowance for doubtful accounts - receivables 6 4
Regulatory Assets: Current 103 72
Current Assets: Other 86 57
Other Noncurrent Assets: Regulatory assets 581 635
Other (including amounts related to VIEs) 71 84
Current maturities of long-term debt 475  
Long-term debt 2,745 3,168
Other (includes amounts related to VIEs) $ 96 $ 101
Common stock, par value (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
Stockholders' Equity Attributable to Parent $ 4,766 $ 4,464
Duke Energy Indiana    
Allowance for doubtful accounts - receivables 4 3
Regulatory Assets: Current 249 277
Current Assets: Other 197 68
Other Noncurrent Assets: Regulatory assets 875 1,278
Other (including amounts related to VIEs) 254 296
Current maturities of long-term debt 303 84
Long-term debt 3,854 4,089
Other (includes amounts related to VIEs) 65 44
Piedmont    
Allowance for doubtful accounts - receivables 14 15
Regulatory Assets: Current 119 141
Current Assets: Other 4 9
Other Noncurrent Assets: Regulatory assets 392 316
Other (including amounts related to VIEs) 272 288
Current maturities of long-term debt 45 0
Long-term debt 3,318 2,968
Other (includes amounts related to VIEs) $ 180 $ 158
Preferred 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
Membership interests $ 1  
Total pretax impact to Retained Earnings 3,673 $ 3,349
Stockholders' Equity Attributable to Parent $ 3,672 $ 3,349
v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 2,455 $ 3,579 $ 1,082
Net loss attributable to Duke Energy 2,550 3,908 1,377
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 5,843 5,663 5,486
Equity in (earnings) losses of unconsolidated affiliates (114) (28) 2,005
Equity component of AFUDC (197) (171) (154)
Impairment of assets and other charges 2,183 356 984
Deferred income taxes (200) 191 54
Contributions to qualified pension plans (58)    
Payments for asset retirement obligations (584) (540) (610)
Provision for rate refunds (130) (70) (22)
Refund of AMT credit carryforwards     572
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions 19 50 63
Receivables (788) (297) (56)
Inventory (476) (34) 66
Other current assets [1] (1,498) (1,136) 205
Increase (decrease) in      
Accounts payable 805 249 (21)
Taxes accrued 10 284 117
Other current liabilities (153) (13) (65)
Other assets [1] (1,600) 112 (408)
Other liabilities 410 95 (442)
Net cash provided by (used in) operating activities 5,927 8,290 8,856
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (11,367) (9,715) (9,907)
Contributions to equity method investments (58) (81) (370)
Return of investment capital 6 44 133
Purchases of debt and equity securities (4,243) (6,098) (8,011)
Proceeds from sales and maturities of debt and equity securities 4,333 6,103 7,949
Disbursements to canceled equity method investments   (855)  
Other (644) (333) (398)
Net cash used in investing activities (11,973) (10,935) (10,604)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 11,874 9,052 6,330
Proceeds from the issuance of common stock 9 5 2,745
Payments for the redemption of long-term debt (4,396) (5,294) (4,506)
Proceeds from the issuance of short-term debt with original maturities greater than 90 days 80 332 3,009
Payments for the redemption of short-term debt with original maturities greater than 90 days (287) (997) (2,147)
Notes payable and commercial paper 781 1,144 (1,181)
Contributions from noncontrolling interests 1,377 1,575 426
Dividends paid (3,179) (3,114) (2,812)
Other (130) (94) (133)
Net cash provided by financing activities 6,129 2,609 1,731
Net increase (decrease) in cash, cash equivalents and restricted cash 83 (36) (17)
Cash, cash equivalents and restricted cash at beginning of period 520 556 573
Cash, cash equivalents and restricted cash at end of period 603 520 556
Cash, cash equivalents and restricted cash at beginning of period 341    
Cash, cash equivalents and restricted cash at end of period 409 341  
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 2,361 2,248 2,186
Cash received from income taxes (6) (3) (585)
Significant non-cash transactions:      
Accrued capital expenditures 1,766 1,325 1,116
Non-cash dividends     110
Duke Energy Carolinas      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss attributable to Duke Energy 1,600 1,336 956
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,787 1,743 1,731
Equity component of AFUDC (98) (65) (62)
Impairment of assets and other charges 26 227 476
Deferred income taxes 210 (213) (260)
Contributions to qualified pension plans (15)    
Payments for asset retirement obligations (200) (182) (162)
Provision for rate refunds (74) (46) (5)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions     (4)
Receivables (102) (99) 52
Receivables from affiliated companies (200) (66) (10)
Inventory (138) (16) (14)
Other current assets [2] (592) (309) 209
Increase (decrease) in      
Accounts payable 377 5 55
Accounts payable to affiliated companies (75) 85 (11)
Taxes accrued (46) 206 30
Other current liabilities (91) (39) (56)
Other assets [2] (764) 21 (102)
Other liabilities (36) 116 (47)
Net cash provided by (used in) operating activities 1,569 2,704 2,776
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (3,304) (2,693) (2,669)
Purchases of debt and equity securities (2,633) (3,425) (1,602)
Proceeds from sales and maturities of debt and equity securities 2,633 3,425 1,602
Other (181) (177) (164)
Net cash used in investing activities (3,485) (2,870) (2,833)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 1,441 1,651 998
Payments for the redemption of long-term debt (436) (617) (813)
Notes payable to affiliated companies 1,007 (280) 477
Distributions to parent (50) (600) (600)
Other (1) (1) (2)
Net cash provided by financing activities 1,961 153 60
Net increase (decrease) in cash, cash equivalents and restricted cash 45 (13) 3
Cash, cash equivalents and restricted cash at beginning of period 8 21 18
Cash, cash equivalents and restricted cash at end of period 53 8 21
Cash, cash equivalents and restricted cash at beginning of period 7    
Cash, cash equivalents and restricted cash at end of period 44 7  
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 546 508 481
Cash received from income taxes (60) 233 321
Significant non-cash transactions:      
Accrued capital expenditures 475 359 365
Progress Energy      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income 1,828 1,599 1,046
Net loss attributable to Duke Energy 1,828 1,598 1,045
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 2,405 2,302 2,327
Equity component of AFUDC (68) (51) (42)
Impairment of assets and other charges 12 82 495
Deferred income taxes 364 247 (197)
Contributions to qualified pension plans (13)    
Payments for asset retirement obligations (291) (288) (384)
Provision for rate refunds (58) (36) 2
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions   51 (9)
Receivables (322) (97) (69)
Receivables from affiliated companies 117 18 (81)
Inventory (183) (26) 49
Other current assets [3] (937) (551) 223
Increase (decrease) in      
Accounts payable 222 59 (62)
Accounts payable to affiliated companies 206 217 (21)
Taxes accrued 8 13 75
Other current liabilities 96 (32) 139
Other assets [3] (1,116) (110) (137)
Other liabilities 573 (99) (177)
Net cash provided by (used in) operating activities 2,843 3,298 3,177
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (4,317) (3,668) (3,488)
Purchases of debt and equity securities (1,341) (2,233) (5,998)
Proceeds from sales and maturities of debt and equity securities 1,417 2,322 6,010
Notes receivable from affiliated companies   0 164
Other (137) (156) (160)
Net cash used in investing activities (4,378) (3,735) (3,472)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 2,775 3,095 1,791
Payments for the redemption of long-term debt (1,173) (1,883) (2,157)
Notes payable to affiliated companies 465 (160) 1,148
Dividends to parent (425) (700) (400)
Other (36) (2) (13)
Net cash provided by financing activities 1,606 350 369
Net increase (decrease) in cash, cash equivalents and restricted cash 71 (87) 74
Cash, cash equivalents and restricted cash at beginning of period 113 200 126
Cash, cash equivalents and restricted cash at end of period 184 113 200
Cash, cash equivalents and restricted cash at beginning of period 70    
Cash, cash equivalents and restricted cash at end of period 108 70  
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 854 813 819
Cash received from income taxes 79 14 149
Significant non-cash transactions:      
Accrued capital expenditures 663 501 363
Duke Energy Progress      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss attributable to Duke Energy 1,008 991 415
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,371 1,286 1,299
Equity component of AFUDC (52) (34) (29)
Impairment of assets and other charges 7 63 499
Deferred income taxes 121 (46) (234)
Contributions to qualified pension plans (8)    
Payments for asset retirement obligations (193) (187) (304)
Provision for rate refunds (58) (36) 2
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions   48 1
Receivables (228) (52) (4)
Receivables from affiliated companies 58 (33) 2
Inventory (85) (11) 23
Other current assets [4] (207) (147) 98
Increase (decrease) in      
Accounts payable 20 12 (127)
Accounts payable to affiliated companies 198 95 12
Taxes accrued (86) 83 68
Other current liabilities 13 (23) 157
Other assets [4] (416) (37) (215)
Other liabilities 38 (16) 3
Net cash provided by (used in) operating activities 1,501 1,956 1,666
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (2,070) (1,746) (1,581)
Purchases of debt and equity securities (1,148) (1,931) (1,555)
Proceeds from sales and maturities of debt and equity securities 1,138 1,914 1,516
Other (29) (20) (57)
Net cash used in investing activities (2,109) (1,783) (1,677)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 1,477 1,959 1,296
Payments for the redemption of long-term debt (645) (1,308) (1,085)
Notes payable to affiliated companies 67 (123) 229
Distributions to parent (250) (700) (400)
Other (1) (1) (12)
Net cash provided by financing activities 648 (173) 28
Net increase (decrease) in cash, cash equivalents and restricted cash 40 0 17
Cash, cash equivalents and restricted cash at beginning of period 39 39 22
Cash, cash equivalents and restricted cash at end of period 79 39 39
Cash, cash equivalents and restricted cash at beginning of period 35    
Cash, cash equivalents and restricted cash at end of period 49 35  
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 386 335 301
Cash received from income taxes 157 83 123
Significant non-cash transactions:      
Accrued capital expenditures 269 163 149
Duke Energy Florida      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss attributable to Duke Energy 909 738 771
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,032 1,011 1,019
Equity component of AFUDC (16) (16) (12)
Impairment of assets and other charges 4 19 (4)
Deferred income taxes 285 279 27
Contributions to qualified pension plans (5)    
Payments for asset retirement obligations (98) (101) (80)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions   0 (14)
Receivables (93) (45) (64)
Receivables from affiliated companies 14 (13) (3)
Inventory (98) (15) 26
Other current assets [5] (640) (451) 40
Increase (decrease) in      
Accounts payable 202 47 66
Accounts payable to affiliated companies (32) 124 (46)
Taxes accrued 2 (30) 39
Other current liabilities 62 (7) (7)
Other assets [5] (704) (69) 84
Other liabilities 18 (69) (181)
Net cash provided by (used in) operating activities 842 1,402 1,661
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (2,247) (1,923) (1,907)
Purchases of debt and equity securities (193) (302) (4,443)
Proceeds from sales and maturities of debt and equity securities 279 408 4,495
Notes receivable from affiliated companies     173
Other (108) (136) (103)
Net cash used in investing activities (2,269) (1,953) (1,785)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 1,298 1,135 495
Payments for the redemption of long-term debt (77) (575) (572)
Notes payable to affiliated companies 406 3 196
Distributions to parent (175)    
Other (1)   (1)
Net cash provided by financing activities 1,451 563 118
Net increase (decrease) in cash, cash equivalents and restricted cash 24 12 (6)
Cash, cash equivalents and restricted cash at beginning of period 62 50 56
Cash, cash equivalents and restricted cash at end of period 86 62 50
Cash, cash equivalents and restricted cash at beginning of period 23    
Cash, cash equivalents and restricted cash at end of period 45 23  
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 339 308 321
Cash received from income taxes (83) (15) 138
Significant non-cash transactions:      
Accrued capital expenditures 394 337 214
Duke Energy Ohio      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss attributable to Duke Energy 302 204 252
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 328 311 283
Equity component of AFUDC (7) (7) (7)
Impairment of assets and other charges (10) 25  
Deferred income taxes (22) 42 31
Contributions to qualified pension plans (3)    
Payments for asset retirement obligations (12) (2) (2)
Provision for rate refunds 5 16 14
(Increase) decrease in      
Receivables 23 6 (13)
Receivables from affiliated companies (5) (25) 9
Inventory (28) (6) 25
Other current assets (55) (60) (18)
Increase (decrease) in      
Accounts payable 44 38 2
Accounts payable to affiliated companies 8 (4)  
Taxes accrued 42 26 30
Other current liabilities (63) 11 3
Other assets (29) (43) (32)
Other liabilities 64 27 (2)
Net cash provided by (used in) operating activities 582 559 575
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (850) (848) (834)
Notes receivable from affiliated companies (105) (10) (19)
Other (67) (60) (48)
Net cash used in investing activities (1,022) (918) (901)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 50 150 467
Payments for the redemption of long-term debt   (50)  
Notes payable to affiliated companies 395 (67) (144)
Contribution from parent   325  
Other (2)    
Net cash provided by financing activities 443 358 323
Net increase (decrease) in cash, cash equivalents and restricted cash 3 (1) (3)
Cash, cash equivalents and restricted cash at beginning of period 13 14 17
Cash, cash equivalents and restricted cash at end of period 16 13 14
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 126 107 97
Cash received from income taxes (35) 9  
Significant non-cash transactions:      
Accrued capital expenditures 123 135 104
Duke Energy Indiana      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss attributable to Duke Energy 137 481 408
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 648 619 572
Equity component of AFUDC (13) (27) (23)
Impairment of assets and other charges 388 9  
Deferred income taxes (64) 34 29
Contributions to qualified pension plans (5)    
Payments for asset retirement obligations (82) (67) (63)
(Increase) decrease in      
Receivables (3) (33) 8
Receivables from affiliated companies 20    
Inventory (70) 55 44
Other current assets (3) (181) (3)
Increase (decrease) in      
Accounts payable 105 76 (12)
Accounts payable to affiliated companies (3) 8 1
Taxes accrued 34 12 13
Other current liabilities 9 13 6
Other assets (10) 20 (68)
Other liabilities 13 (15) 26
Net cash provided by (used in) operating activities 1,101 1,004 938
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (877) (818) (888)
Purchases of debt and equity securities (61) (142) (37)
Proceeds from sales and maturities of debt and equity securities 48 65 22
Notes receivable from affiliated companies (86) (120) (33)
Other (55) 36 48
Net cash used in investing activities (1,031) (979) (888)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 67 300 544
Payments for the redemption of long-term debt (84) (70) (513)
Notes payable to affiliated companies 435 (131) 101
Distributions to parent (462) (125) (200)
Other (1)    
Net cash provided by financing activities (45) (26) (68)
Net increase (decrease) in cash, cash equivalents and restricted cash 25 (1) (18)
Cash, cash equivalents and restricted cash at beginning of period 6 7 25
Cash, cash equivalents and restricted cash at end of period 31 6 7
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 186 194 164
Cash received from income taxes 35 56 36
Significant non-cash transactions:      
Accrued capital expenditures 122 118 101
Piedmont      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income 323 310 273
Net loss attributable to Duke Energy 323 310 273
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 225 216 182
Equity in (earnings) losses of unconsolidated affiliates (8) (9) (9)
Equity component of AFUDC (11) (20) (19)
(Gains) Losses on sales of other assets (4) 0 0
Impairment of assets and other charges 18 10 7
Deferred income taxes 5 4 53
Contributions to qualified pension plans (2)    
Provision for rate refunds (3) (4) (33)
(Increase) decrease in      
Receivables (111) (77) 10
Receivables from affiliated companies   (1)  
Inventory (63) (40) 3
Other current assets 32 33 (66)
Increase (decrease) in      
Accounts payable 40 (25) 16
Accounts payable to affiliated companies 11 (39) 76
Taxes accrued 11 37 3
Other current liabilities 36 (26) (11)
Other assets 9 26 (11)
Other liabilities (1) (4) 7
Net cash provided by (used in) operating activities 507 391 481
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (862) (850) (901)
Contributions to equity method investments (8) (9)  
Other (26) (31) (28)
Net cash used in investing activities (896) (890) (929)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 394 347 394
Payments for the redemption of long-term debt   (160)  
Notes payable to affiliated companies (4) (13) 54
Contribution from parent   325  
Other (1)    
Net cash provided by financing activities 389 499 448
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 135 114 115
Cash received from income taxes 23 (13) (36)
Significant non-cash transactions:      
Accrued capital expenditures $ 207 $ 97 $ 106
[1] Includes approximately $2.6 billion for impacts of under-collected deferred fuel regulatory assets for the year ended December 31, 2022.
[2] Includes approximately $1.3 billion for impacts of under-collected deferred fuel regulatory assets for the year ended December 31, 2022.
[3] Includes approximately $1.3 billion for impacts of under-collected deferred fuel regulatory assets for the year ended December 31, 2022.
[4] Includes approximately $402 million for impacts of under-collected deferred fuel regulatory assets for the year ended December 31, 2022.
[5] Includes approximately $942 million for impacts of under-collected deferred fuel regulatory assets for the year ended December 31, 2022.
v3.22.4
Consolidated Statements of Cash Flows (Parenthetical)
$ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
Under-collected deferred fuel regulatory assets $ 2,600
Duke Energy Carolinas  
Under-collected deferred fuel regulatory assets 1,300
Progress Energy  
Under-collected deferred fuel regulatory assets 1,300
Duke Energy Progress  
Under-collected deferred fuel regulatory assets 402
Duke Energy Florida  
Under-collected deferred fuel regulatory assets $ 942
v3.22.4
Consolidated Statements of Changes in Equity - USD ($)
$ in Millions
Total
Common Stockholders' Equity
Preferred Stock
Common Stock
Additional Paid In Capital
Retained Earnings
Net Gains (Losses) on Cash Flow Hedges
 [1]
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Pension and OPEB Adjustments
Noncontrolling Interests
Duke Energy Carolinas
Duke Energy Carolinas
Members Equity
Duke Energy Carolinas
Net Gains (Losses) on Cash Flow Hedges
Progress Energy
Progress Energy
Common Stockholders' 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
Duke Energy Progress
Duke Energy Progress
Members Equity
Duke Energy Florida
Duke Energy Florida
Members Equity
Duke Energy Florida
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Duke Energy Ohio
Duke Energy Ohio
Common Stock
Duke Energy Ohio
Additional Paid In Capital
Duke Energy Ohio
Retained Earnings
Duke Energy Indiana
Duke Energy Indiana
Members Equity
Duke Energy Indiana
Pension and OPEB Adjustments
Piedmont
Piedmont
Common Stockholders' Equity
Piedmont
Common Stock
Piedmont
Retained Earnings
Piedmont
Noncontrolling Interests
Common Stock
Common Stock
Common Stockholders' Equity
Common Stock
Common Stock
Common Stock
Additional Paid In Capital
Beginning Balance (parent) at Dec. 31, 2019 $ 47,951                         $ 15,593                                       $ 2,443                
Beginning Members' Equity at Dec. 31, 2019                     $ 12,811 $ 12,818 $ (7)                   $ 9,246 $ 6,788 $ 6,789 $ (1)         $ 4,575 $ 4,575                    
Ending Balance (Attributable to Parent) at Dec. 31, 2020   $ 47,964 $ 1,962 $ 1 $ 43,767 $ 2,471 $ (167) $ 6 $ (76)           $ 16,237 $ 9,143 $ 7,109 $ (5) $ (2) $ (8)             $ 3,935 $ 762 $ 2,776 $ 397         $ 2,715 $ 1,310 $ 1,405          
Beginning Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2019                   $ 1,129                     $ 3                                 $ 0        
Beginning Balance (Attributable to Parent) at Dec. 31, 2019   46,822 1,962 1 40,881 4,108 (51) 3 (82)           15,590 9,143 6,465 (10) (1) (7)             3,683 762 2,776 145         2,443 1,310 1,133          
Balance (in shares) at Dec. 31, 2019                                                                                 733,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                                    
Net income (loss) 975                 (295)                                                                
Net income 1,082                         1,046 1,045   1,045       1                         273 273   273          
Net income (loss) 1,377 1,270       1,270         956 956   1,045               $ 415 415 771 771   252     252 408 408   273                
Other comprehensive (loss) income (118) [2] (107)         (116) 3 6 (11)       3 3     5 (1) (1)       (1)   (1)                                
Common stock issuances, including dividend reinvestment and employee benefits                                                                             $ 2,902 $ 2,902   $ 2,902
Common stock issuances, including dividend reinvestment and employee benefits (in shares)                                                                                 36,000,000  
Common stock dividends (2,815) (2,815)       (2,815)         (600) (600)   (400) (400)   (400)           (400)               (200) (200)                    
Contribution from noncontrolling interest, net of transaction costs(a) 409 [3] (17) [3]     (17) [3]         426 [3]                         (1)                                      
Distributions to noncontrolling interest in subsidiaries (30)                 (30)                                                                
Other (90) [4] (91) [4]     1 [4] (92) [4]       1 [4] (13) [5] (13) [5]   (1) (1)   (1)                                 (1) (1)   (1)          
Ending Balance (parent) at Dec. 31, 2020 49,184                         16,241                                       2,715                
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2020                   1,220                     4                                 0        
Ending Member's Equity at Dec. 31, 2020                     13,154 13,161 (7)                   9,260 7,558 7,560 (2)         4,783 4,783                    
Balance (in shares) at Dec. 31, 2020                                                                                 769,000,000  
Ending Balance (Attributable to Parent) at Dec. 31, 2021 49,296 49,296 1,962 1 44,371 3,265 (232) (2) (69)         17,145 17,145 9,149 8,007 (2) (2) (7)             4,464 762 3,100 602       3,349 3,349 1,635 1,714          
Beginning Balance (Attributable to Parent) at Dec. 31, 2020   47,964 1,962 1 43,767 2,471 (167) 6 (76)           16,237 9,143 7,109 (5) (2) (8)             3,935 762 2,776 397         2,715 1,310 1,405          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                                    
Net income (loss) 3,473                 (329)                                                                
Net income 3,579                         1,599 1,598   1,598       1                         310 310   310          
Net income (loss) 3,908 3,802       3,802         1,336 1,336   1,598               991 991 738 738   204     204 481 481   310                
Other comprehensive (loss) income (56) [2] (66)         (65) (8) 7 10 1   1 4 4     3   1       (1)   (1)                                
Common stock issuances, including dividend reinvestment and employee benefits                                                                             68 68   68
Common stock dividends (3,008) (3,008)       (3,008)         (600) (600)   (700) (700)   (700)           (700)               (250) (250)                    
Sale of noncontrolling interest [6] 999 545     545         454                                                                
Contribution from noncontrolling interest, net of transaction costs(a) [3] 550                 550                                                                
Distributions to noncontrolling interest in subsidiaries (66)                 (66)       (1)             (1)                                          
Contribution from parent                                                     $ 325   325         325 325 325            
Other (8) (9)     (9)         1       5 6 6         (1)               (1) 1 1 1   (1) (1)   (1)          
Ending Balance (parent) at Dec. 31, 2021 51,136                         17,148                                       $ 3,349                
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2021 $ 1,840                 1,840       $ 3             3                                 0        
Ending Member's Equity at Dec. 31, 2021                     13,891 13,897 (6)                 9,551 9,551 8,295 8,298 (3)         5,015 5,015                    
Balance (in shares) at Dec. 31, 2021 769,000,000                         100                         90,000,000             100             769,000,000  
Ending Balance (Attributable to Parent) at Dec. 31, 2022 $ 49,322 49,322 1,962 1 44,862 2,637 (29) (23) (88)         $ 21,406 21,406 11,832 9,585 (1) (8) (2)             $ 4,766 762 3,100 904       $ 3,672 3,672 1,635 2,037          
Beginning Balance (Attributable to Parent) at Dec. 31, 2021 49,296 49,296 $ 1,962 $ 1 44,371 3,265 (232) (2) (69)         17,145 17,145 9,149 8,007 (2) (2) (7)             4,464 $ 762 $ 3,100 602       3,349 3,349 $ 1,635 1,714          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                                    
Net income (loss) 2,349                 (95)                                                                
Net income 2,455                         1,828 1,828   1,828                                 323 $ 323   $ 323          
Net income (loss) 2,550 2,444       2,444         1,600 1,600   1,828               1,008 1,008 909 909   $ 302     $ 302 137 137   323                
Other comprehensive (loss) income 174 [2] 163         $ 203 $ (21) $ (19) 11       0       $ 1 $ (6) $ 5       (5)   (5)                                
Common stock issuances, including dividend reinvestment and employee benefits                                                                             $ 76 $ 76   $ 76
Common stock issuances, including dividend reinvestment and employee benefits (in shares)                                                                                 1,000,000  
Common stock dividends (3,073) (3,073)       (3,073)         (50) (50)   (425) (425) (175) $ (250)           (250) (175) (175)           (450) (450)                    
Sale of noncontrolling interest [6] 1,034 465     465         569                                                                
Contribution from noncontrolling interest, net of transaction costs(a) [3] 314                 314                                                                
Distributions to noncontrolling interest in subsidiaries (140)                 (140)       (34)             (34)                                          
Equitization of certain notes payable to affiliates                           2,907 2,907 2,907                                                    
Purchase of a noncontrolling interest (20) (51)     (51)         31       (20) (51) (51)         31                                          
Other 3 $ 2     $ 1 $ 1       1 1 1   2 $ 2 $ 2               (1) (1)           1   $ 1 1       1        
Ending Balance (parent) at Dec. 31, 2022 51,853                         $ 21,406                                       3,673                
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2022 $ 2,531                 $ 2,531                     $ 0                         $ 1       $ 1        
Ending Member's Equity at Dec. 31, 2022                     $ 15,442 $ 15,448 $ (6)                 $ 10,309 $ 10,309 $ 9,023 $ 9,031 $ (8)         $ 4,703 $ 4,702 $ 1                  
Balance (in shares) at Dec. 31, 2022 770,000,000                         100                         90,000,000             100             770,000,000  
[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 $52 million for the year ended December 31, 2022, and income tax benefit of approximately $17 million and $35 million for the years ended December 31, 2021, and 2020, respectively.
[3] Relates to tax equity financing activity in the Commercial Renewables Disposal Groups.
[4] Amounts in Retained earnings primarily represent impacts due to implementation of a new accounting standard related to Current Estimated Credit Losses. See Note 1 for additional discussion.
[5] Amounts primarily represent impacts due to implementation of a new accounting standard related to Credit Losses. See Note 1 for additional discussion.
[6] Relates primarily to the sale of a noncontrolling interest in Duke Energy Indiana. See Note 2 for additional discussion.
v3.22.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2022
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, 2022, or 2021.
December 31,
(in millions)Location20222021
Duke Energy
Accrued compensationCurrent Liabilities$778 $915 
Duke Energy Carolinas
Accrued compensation Current Liabilities$247 $277 
Duke Energy Progress  
Customer depositsCurrent Liabilities$106 $144 
Other accrued liabilitiesCurrent Liabilities124 163 
Duke Energy Florida  
Customer deposits Current Liabilities$200 $200 
Other accrued liabilitiesCurrent Liabilities61 89 
Duke Energy Ohio  
Gas StorageCurrent Assets$57 $25 
Collateral liabilitiesCurrent Liabilities53 57 
Duke Energy Indiana    
Mark-to-market transactionsCurrent Assets$110 $23 
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, 2022, 2021 and 2020, 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 regulated and nonregulated subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Consolidated Balance Sheet. 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, 2022
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$409 $44 $108 $49 $45 
Other173 8 74 28 41 
Other Noncurrent Assets
Other11 1 2 2 — 
Total cash, cash equivalents and restricted cash$593 $53 $184 $79 $86 
December 31, 2021
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$341 $7 $70 $35 $23 
Other170 — 39 — 39 
Other Noncurrent Assets
Other6 1 4 4 — 
Total cash, cash equivalents and restricted cash$517 $8 $113 $39 $62 
Inventory
Inventory related to regulated operations is valued at historical cost. Inventory related to nonregulated operations is valued at the lower of cost or market. Inventory is charged to expense or capitalized to property, plant and equipment when issued, primarily using the average cost method. Excess or obsolete inventory is written down to the lower of cost or net realizable value. Once inventory has been written down, it creates a new cost basis for the inventory that is not subsequently written up. Provisions for inventory write-offs were not material at December 31, 2022, and 2021, respectively. The components of inventory are presented in the tables below.
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,604 $876 $1,232 $819 $413 $105 $342 $12 
Coal 620 253 190 99 91 34 144 — 
Natural gas, oil and other 360 35 157 88 69 5 3 160 
Total inventory $3,584 $1,164 $1,579 $1,006 $573 $144 $489 $172 
 December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,309 $793 $1,067 $729 $338 $80 $311 $14 
Coal486 195 167 94 73 19 105 — 
Natural gas, oil and other316 38 164 98 66 17 2 95 
Total inventory $3,111 $1,026 $1,398 $921 $477 $116 $418 $109 
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,
 202220212020
Duke Energy 3.0 %2.9 %3.0 %
Duke Energy Carolinas 2.7 %2.7 %2.8 %
Progress Energy 3.2 %3.1 %3.2 %
Duke Energy Progress 3.0 %3.0 %3.1 %
Duke Energy Florida 3.5 %3.3 %3.3 %
Duke Energy Ohio 2.9 %2.9 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.5 %
Piedmont2.1 %2.1 %2.3 %
In general, when the Duke Energy Registrants retire regulated property, plant and equipment, the original cost plus the cost of retirement, less salvage value and any depreciation already recognized, is charged to accumulated depreciation. However, when it becomes probable the asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory assets on the Consolidated Balance Sheets if deemed recoverable (see discussion of long-lived asset impairments above). The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate.
When the Duke Energy Registrants sell entire regulated operating units, or retire or sell nonregulated properties, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets. Any gain or loss is recorded in earnings, unless otherwise required by the applicable regulatory body. See Note 11 for additional information.
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. 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 Electric Utilities and Infrastructure (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. Substantially all AROs are related to regulated operations. When recording an ARO, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset unless determined not to be probable of recovery.
The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the ARO for regulated operations through a combination of regulated revenues and earnings on the NDTF. As a result, amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset are netted and deferred as a regulatory asset or liability.
Accounts Payable
During 2020, Duke Energy established a supply chain finance program (the “program”) with a global financial institution. The program is voluntary and allows Duke Energy suppliers, at their sole discretion, to sell their receivables from Duke Energy to the 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, 2022, and December 31, 2021.
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Outstanding Accounts Payable Balance Sold$87 $6 $19 $8 $11 $5 $— $57 
Suppliers Invoices Settled Through The Program301 29 85 26 59 38 2 147 
December 30, 2021
DukeDuke
DukeProgressEnergyEnergy
(in millions)EnergyEnergyFloridaOhioPiedmont
Outstanding Accounts Payable Balance Sold$19 $9 $9 $6 $4 
Suppliers Invoices Settled Through The Program122 10 10 12 100 
Revenue Recognition
Duke Energy recognizes revenue as customers obtain control of promised goods and services in an amount that reflects consideration expected in exchange for those goods or services. Generally, the delivery of electricity and natural gas results in the transfer of control to customers at the time the commodity is delivered and the amount of revenue recognized is equal to the amount billed to each customer, including estimated volumes delivered when billings have not yet occurred. See Note 19 for further information.
Derivatives and Hedging
Derivative and non-derivative instruments may be used in connection with commodity price and interest rate activities, including swaps, futures, forwards and options. All derivative instruments, except those that qualify for the NPNS exception, are recorded on the Consolidated Balance Sheets at fair value. Qualifying derivative instruments may be designated as either cash flow hedges or fair value hedges. Other derivative instruments (undesignated contracts) either have not been designated or do not qualify as hedges. The effective portion of the change in the fair value of cash flow hedges is recorded in AOCI. The effective portion of the change in the fair value of a fair value hedge is offset in net income by changes in the hedged item. For activity subject to regulatory accounting, gains and losses on derivative contracts are reflected as regulatory assets or liabilities and not as other comprehensive income or current period income. As a result, changes in fair value of these derivatives have no immediate earnings impact.
Formal documentation, including transaction type and risk management strategy, is maintained for all contracts accounted for as a hedge. At inception and at least every three months thereafter, the hedge contract is assessed to see if it is highly effective in offsetting changes in cash flows or fair values of hedged items.
See Note 15 for further information.
Captive Insurance Reserves
Duke Energy has captive insurance subsidiaries that provide coverage, on an indemnity basis, to the Subsidiary Registrants as well as certain third parties, on a limited basis, for financial losses, primarily related to property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not reported (IBNR), as well as estimated provisions for known claims. IBNR reserve estimates are primarily based upon historical loss experience, industry data and other actuarial assumptions. Reserve estimates are adjusted in future periods as actual losses differ from experience.
Duke Energy, through its captive insurance entities, also has reinsurance coverage with third parties for certain losses above a per occurrence and/or aggregate retention. Receivables for reinsurance coverage are recognized when realization is deemed probable.
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) 202220212020
Duke Energy $449 $420 $415 
Duke Energy Carolinas 47 44 43 
Progress Energy 290 250 249 
Duke Energy Progress 25 22 26 
Duke Energy Florida 265 228 223 
Duke Energy Ohio 104 102 96 
Duke Energy Indiana 7 23 25 
Piedmont1 1 2 
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, 2022, and 2021, 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 FASB 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.
The following accounting standard was adopted by the Duke Energy Registrants in 2020.
Current Expected Credit Losses. In June 2016, the FASB issued new accounting guidance for credit losses. Duke Energy adopted the new accounting guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year results. Duke Energy did not adopt any practical expedients.
Duke Energy recognizes allowances for credit losses based on management's estimate of losses expected to be incurred over the lives of certain assets or guarantees. Management monitors credit quality, changes in expected credit losses and the appropriateness of the allowance for credit losses on a forward-looking basis. Management reviews the risk of loss periodically as part of the existing assessment of collectability of receivables.
Duke Energy reviews the credit quality of its counterparties as part of its regular risk management process and requires credit enhancements, such as deposits or letters of credit, as appropriate and as allowed by regulators.
Duke Energy recorded cumulative effects of changes in accounting principles related to the adoption of the new credit loss standard for allowances and credit losses of trade and other receivables, insurance receivables and financial guarantees. These amounts are included in the Consolidated Balance Sheets in Receivables, Receivables of VIEs, Other Noncurrent Assets and Other Noncurrent Liabilities. See Notes 8 and 19 for more information.
Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below:
 January 1, 2020
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaPiedmont
Total pretax impact to Retained Earnings$120 $16 $2 $1 $1 $1 
v3.22.4
Dispositions
 12 Months Ended
Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Dispositions DISPOSITIONS
The following table summarizes the Loss from Discontinued Operations, net of tax recorded on Duke Energy's Consolidated Statements of Operations:
Years Ended December 31,
(in millions)202220212020
Commercial Renewables Disposal Groups$(1,349)$(151)$(14)
Other(a)
26 7 7 
Loss from Discontinued Operations, net of tax$(1,323)$(144)$(7)
(a)     Amount represents an income tax benefit resulting from tax adjustments for previously sold businesses not related to the Commercial Renewables Disposal Groups.
Sale of Commercial Renewables Segment
In August 2022, Duke Energy announced a strategic review of its commercial renewables business. Since 2007, Duke Energy has built a portfolio of commercial wind, solar and battery projects across the U.S., and established a development pipeline. Duke Energy has developed a strategy to focus on renewables, grid and other investment opportunities within its regulated operations. 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 Electric Utilities and Infrastructure (EU&I) segment. Duke Energy is actively marketing the business as two separate disposal groups, the utility-scale solar and wind group and the distributed generation group (collectively, Commercial Renewables Disposal Groups). The sales processes for both Disposal Groups are ongoing and Duke Energy expects to dispose of these groups in the second half of 2023.
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 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)20222021
Current Assets Held for Sale
Cash and cash equivalents$10 $3 
Receivables, net107 87 
Inventory88 86 
Other57 56 
Total current assets held for sale262 232 
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost6,444 7,323 
Accumulated depreciation and amortization(1,651)(1,452)
Net property, plant and equipment4,793 5,871 
Operating lease right-of-use assets, net140 130 
Investments in equity method unconsolidated affiliates522 513 
Other179 181 
Total other noncurrent assets held for sale841 824 
Total Assets Held for Sale$5,896 $6,927 
Current Liabilities Associated with Assets Held for Sale
Accounts payable$122 $98 
Taxes accrued17 18 
Other120 51 
Total current liabilities associated with assets held for sale259 167 
Noncurrent Liabilities Associated with Assets Held for Sale
Operating lease liabilities150 134 
Asset retirement obligations190 175 
Other399 303 
Total other noncurrent liabilities associated with assets held for sale739 612 
Total Liabilities Associated with Assets Held for Sale$998 $779 
As of December 31, 2022, the noncontrolling interest balance is $1.6 billion.
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)202220212020
Operating revenues$465 $476 $502 
Operation, maintenance and other337343292
Depreciation and amortization(a)
201227200
Property and other taxes363426
Other income and expenses, net2 (27)1
Interest expense107266
Loss on disposal1,748 — — 
Loss before income taxes(1,865)(227)(81)
Income tax benefit(516)(76)(67)
Loss from discontinued operations $(1,349)$(151)$(14)
Add: Net loss attributable to noncontrolling interest included in discontinued operations108 344 296 
Net income from discontinued operations attributable to Duke Energy Corporation $(1,241)$193 $282 
(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' held for sale assets included pretax impairments of approximately $1.7 billion for the year ended December 31, 2022. The impairment was recorded to write-down the carrying amount of the property, plant and equipment assets to the estimated fair value of the business, based on the expected selling price less estimated cost to sell. These losses were included in Loss from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations and Comprehensive Income. The fair value was primarily determined from the income approach using discounted cash flows but also considered market information obtained through the bidding process. The discounted cash flow model utilized Level 2 and Level 3 inputs. The fair value hierarchy levels are further discussed in Note 17. The impairment will be updated, if necessary, based on the final sales price, after any adjustments at closing for working capital and capital expenditures.
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)202220212020
Cash flows provided by (used in):
Operating activities$213 $62 $466 
Investing activities(802)(542)(1,102)
Other Sale Related Matters
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 these lawsuits will remain with Duke Energy and any future activity related to the matters will be presented in discontinued operations. See Note 5 for more information.
The Commercial Renewables Disposal Groups' debt and related interest rate swaps have not been classified as held for sale as they are not currently expected transfer to the buyer, but would be required to be extinguished as a result of the disposition. As of December 31, 2022, the balance of long-term debt including current maturities is $1.5 billion. If the debt and related interest rate swaps do not transfer to the buyer and are terminated early, the expected total loss on extinguishment is approximately $100 million, of which approximately $55 million is expected to be attributable to Duke Energy. The loss would be recorded in discontinued operations when the debt and swaps are terminated. Hedge accounting was discontinued on the related interest rate swaps when the Commercial Renewables Disposal Groups were classified as held for sale as the forecasted transactions being hedged are no longer probable. As a result, a gain of $72 million was recorded in Loss from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations as of December 31, 2022, of which $54 million is attributable to Duke Energy.
Interest expense and debt issuance costs directly associated with the Commercial Renewables Disposal Groups was allocated to discontinued operations. No interest from corporate level debt was allocated to discontinued operations.
The Commercial Renewables Disposal Groups have entered into negotiations to modify or terminate certain PPAs under which the Commercial Renewables Disposal Groups sell power and RECs from renewable projects to offtakers. Duke Energy expects to pay offtakers approximately $95 million to modify the agreements. Charges related to the modifications will be reflected within Loss From Discontinued Operations in Duke Energy's Consolidated Statements of Operations.
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.
v3.22.4
Business Segments
 12 Months Ended
Dec. 31, 2022
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, 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 affiliates7 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. See Notes 4 and 5 for more information.
(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. See Note 4 for additional information.
(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.
Year Ended December 31, 2020
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated Revenues$21,687 $1,653 $23,340 $26 $— $23,366 
Intersegment Revenues33 95 128 73 (201)— 
Total Revenues$21,720 $1,748 $23,468 $99 $(201)$23,366 
Interest Expense$1,320 $135 $1,455 $657 $(15)$2,097 
Depreciation and amortization4,068 258 4,326 207 (29)4,504 
Equity in (losses) earnings of unconsolidated affiliates(1)(2,017)(2,018)13 — (2,005)
Income tax expense (benefit)340 (349)(9)(160)— (169)
Segment income (loss)(a)(b)(c)
2,669 (1,266)1,403 (418)(4)981 
Less noncontrolling interest295 
Add back preferred stock dividend107 
Discontinued operations289 
Net income$1,082 
Capital investments expenditures and acquisitions(d)
$7,629 $1,309 $8,938 $1,483 $— $10,421 
Segment assets(e)
138,225 13,849 152,074 10,314 — 162,388 
(a)    EU&I includes $948 million of Impairment of assets and other charges and a reversal of $152 million included in Regulated electric operating revenue related to the CCR Settlement Agreement filed with the NCUC. Additionally, EU&I includes $19 million of Impairment of assets and other charges related to the Clemson University Combined Heat and Power Plant, $5 million of Impairment charges related to the natural gas pipeline assets and $16 million of shareholder contributions within Operations, maintenance and other related to Duke Energy Carolinas' and Duke Energy Progress' 2019 North Carolina rate cases. See Note 4 for additional information.
(b)    GU&I includes $2.1 billion recorded within Equity in (losses) earnings of unconsolidated affiliates and $7 million of Impairment of assets and other charges related to natural gas pipeline investments. See Notes 4 and 13 for additional information.
(c)    Other includes a $98 million reversal of 2018 severance costs due to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case. See Note 21 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
For the year ended December 31, 2022, revenues from one customer of Duke Energy Progress are $684 million. Duke Energy Progress has one reportable segment, Electric Utilities and Infrastructure. No other Subsidiary Registrant has an individual customer representing more than 10% of its revenues for the year ended December 31, 2022.
Products and Services
The following table summarizes revenues of the reportable segments by type.
RetailWholesaleRetailTotal
(in millions)ElectricElectricNatural GasOther Revenues
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 
2020
Electric Utilities and Infrastructure$18,898 $1,878 $— $944 $21,720 
Gas Utilities and Infrastructure— — 1,691 57 1,748 
Total Reportable Segments$18,898 $1,878 $1,691 $1,001 $23,468 
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, 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 Income141 78 219 (15)— 204 
Capital expenditures$486 $362 $848 $— $— $848 
Segment assets6,882 3,892 10,774 29 (29)10,774 
Year Ended December 31, 2020
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,405 $453 $1,858 $— $— $1,858 
Interest expense$85 $17 $102 $— $— $102 
Depreciation and amortization200 78 278 — — 278 
Income tax expense (benefit)19 26 45 (2)— 43 
Segment income (loss)162 96 258 (6)— 252 
Capital expenditures$548 $286 $834 $— $— $834 
Segment assets6,615 3,380 9,995 32 (2)10,025 
v3.22.4
Regulatory Matters
 12 Months Ended
Dec. 31, 2022
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)2022202120222021
Regulatory Assets
AROs – coal ash$3,205 $3,408 $1,429 $1,399 
AROs – nuclear and other945 684 884 620 
Deferred fuel and purchased power3,866 1,253 2,060 718 
Accrued pension and OPEB2,336 2,017 759 725 
Storm cost securitized balance, net940 991 720 759 
Nuclear asset securitized balance, net881 937 881 937 
Debt fair value adjustment829 884 — — 
Storm cost deferrals666 213 559 189 
Hedge costs deferrals378 348 128 137 
Post-in-service carrying costs (PISCC) and deferred operating expenses342 356 42 47 
Retired generation facilities316 357 243 265 
Deferred asset – Lee and Harris COLA288 317 21 21 
Advanced metering infrastructure (AMI)283 311 111 130 
Customer connect project271 242 136 124 
Costs of removal regulatory asset221 107 221 107 
Vacation accrual222 221 43 42 
Incremental COVID-19 expenses210 87 78 28 
CEP deferral190 161 — — 
Demand side management (DSM)/Energy efficiency (EE)189 235 188 230 
Derivatives – natural gas supply contracts168 139 — — 
NCEMPA deferrals157 165 157 165 
Nuclear deferral154 120 64 42 
Deferred pipeline integrity costs121 108 — — 
COR settlement120 123 32 32 
Deferred coal ash handling system costs92 90 25 23 
Qualifying facility contract buyouts81 94 81 94 
Amounts due from customers57 85 — — 
Propane caverns26 — — — 
Deferred severance charges21 54 7 18 
Manufactured gas plant (MGP)— 104 — — 
Other555 426 110 87 
Total regulatory assets18,130 14,637 8,979 6,939 
Less: current portion3,485 2,150 1,833 1,030 
Total noncurrent regulatory assets$14,645 $12,487 $7,146 $5,909 
Regulatory Liabilities
Net regulatory liability related to income taxes$6,462 $7,199 $2,192 $2,394 
Costs of removal5,151 6,150 2,269 2,955 
AROs – nuclear and other1,038 2,053 — — 
Hedge cost deferrals683 364 252 155 
Accrued pension and OPEB211 213 — — 
DOE Settlement154 — 154 — 
Provision for rate refunds78 274 28 87 
Amounts to be refunded to customers45 — — — 
Other1,226 1,110 434 453 
Total regulatory liabilities 15,048 17,363 5,329 6,044 
Less: current portion 1,466 1,211 576 478 
Total noncurrent regulatory liabilities $13,582 $16,152 $4,753 $5,566 
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.
Storm cost deferrals. Represents deferred incremental costs incurred related to major weather-related events.
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.
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.
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.
Customer connect project. Represents incremental operating expenses and carrying costs on deferred amounts related to the deployment of the new customer information system.
Vacation accrual. Represents vacation entitlement, which is generally recovered in the following year.
Incremental COVID-19 expenses. Represents incremental costs related to ensuring continuity and quality of service in a safe manner during the COVID-19 pandemic.
CEP deferral. Represents deferred depreciation, PISCC and deferred property tax for Duke Energy Ohio Gas capital assets for the Capital Expenditure Program (CEP).
DSM/EE. Deferred costs related to various DSM and EE programs recoverable through various mechanisms.
Derivatives – natural gas supply contracts. Represents costs for certain long-dated, fixed quantity forward natural gas supply contracts, which are recoverable through PGA clauses.
NCEMPA deferrals. Represents retail allocated cost deferrals and returns associated with the additional ownership interest in assets acquired from NCEMPA in 2015.
Nuclear deferral. Includes amounts related to levelizing nuclear plant outage costs, which allows for the recognition of nuclear outage expenses over the refueling cycle rather than when the outage occurs, resulting in the deferral of operations and maintenance costs associated with refueling.
Deferred pipeline integrity costs. Represents pipeline integrity management costs in compliance with federal regulations.
COR settlement. Represents approved COR settlements that are being amortized over the average remaining lives, at the time of approval, of the associated assets.
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.
Amounts due from customers. Relates primarily to margin decoupling and IMR recovery mechanisms.
Costs of removal 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.
Propane Caverns. Represents amounts for costs related to propane inventory, the net book value of remaining assets and decommissioning costs at Duke Energy Ohio.
MGP. Represents remediation costs incurred at former MGP sites and the deferral of costs to be incurred at Duke Energy Ohio's East End and West End sites.
Net regulatory liability related to income taxes. Amounts for all registrants include regulatory liabilities related primarily to impacts from the Tax Act. See Note 24 for additional information. Amounts have no immediate impact on rate base as regulatory assets are offset by deferred tax liabilities.
Costs of removal. Represents funds received from customers to cover the future removal of property, plant and equipment from retired or abandoned sites as property is retired. Also includes certain deferred gains on NDTF investments.
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, 2022.
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, 2022.
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. Total estimated operation and maintenance expenses incurred for restoration efforts for the year ended December 31, 2022, were approximately $100 million, with an additional $9 million in capital investments. Approximately $83 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, 2022 ($40 million and $43 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.
Carbon Plan Proceeding
On October 13, 2021, North Carolina enacted legislation (Energy Solutions for North Carolina or HB 951) that established a framework overseen by the NCUC to advance North Carolina CO2 emission reductions from electric generating facilities in the state through the use of least cost planning while providing for continued reliability and affordable rates for customers. Among other things, HB 951 directed that the NCUC approve an initial carbon plan (Carbon Plan) by December 31, 2022, taking all reasonable steps to achieve a 70% reduction in CO2 emissions from public utilities’ electric generating facilities in the state by 2030 (from 2005 levels) and achieve carbon neutrality from electric generating facilities by 2050 while maintaining affordability and reliability for customers. On May 16, 2022, Duke Energy Carolinas and Duke Energy Progress filed their proposed Carolinas Carbon Plan (Proposed Plan) with the NCUC.
The NCUC issued an order on December 30, 2022, adopting the first Carbon Plan. The order recognizes the value of an “all-of-the-above” approach to achieving CO2 emission reductions and established a set of near-term procurement and development activities needed to continue progress towards the targeted CO2 reductions, along with the schedule for the future biennial updates to the Carbon Plan. The approved near-term action plan includes procurement and development of solar, storage and hydrogen-capable natural gas generation at levels consistent with the Proposed Plan, along with upgrading key transmission facilities to strengthen the grid, improve resilience for customers and interconnect new solar generation and stakeholder engagement activities for onshore wind generation (in all cases, subject to any further applicable regulatory processes). The order also approved early development activities for long lead-time resources, including new nuclear, pumped-hydro storage and offshore wind transmission development. The NCUC affirmed the utility ownership structure required in HB 951; all new generation facilities or other resources selected by the NCUC to achieve the CO2 emission reductions shall be owned and recovered on a cost-of-service basis by the utilities, with a carveout for 45% of solar and solar plus storage generation to be procured through long-term purchase power agreements with third parties. The order approves continued utilization of the remaining coal-fired generation assets, ensuring that appropriate replacement generating units and associated transmission infrastructure are in service before existing generating units are retired and providing an orderly transition out of coal generation by 2035.
Storm Cost Securitization Legislation
On June 15, 2022, the South Carolina General Assembly unanimously adopted S. 1077 (Act 227) in both the House and Senate and the bill was signed into law on June 17, 2022. The legislation enables the PSCSC to permit the issuance of bonds for the payment of storm costs and the creation of a storm charge for repayment.
On August 5, 2022, Duke Energy Progress filed a petition with the PSCSC for review and approval of deferred storm costs to be securitized of approximately $223 million. The evidentiary hearing is scheduled to begin on or after March 1, 2023. On February 7, 2023, a stipulation was reached with all parties in the proceeding regarding certain items identified through the Office of Regulatory Staff (ORS) audit of storm costs. The final amount for securitization will depend on the outcome of the hearing. Duke Energy Progress cannot predict the outcome of this matter.
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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,391 $1,227 (g)(b)
Deferred fuel and purchased power(i)
1,614 339 (e)2024
Accrued pension and OPEB(c)
614 365 Yes(h)
Storm cost securitized balance, net
220 232 2041
Storm cost deferrals
93 22 Yes(b)
Hedge costs deferrals(c)
228 171 Yes(b)
PISCC and deferred operating expenses(c)
30 31 Yes(b)
Retired generation facilities(c)
39 54 Yes(b)
Deferred asset – Lee COLA
267 296 (b)
AMI
139 140 Yes(b)
Customer connect project
62 66 Yes(b)
Vacation accrual
84 83 2023
Incremental COVID-19 expenses
127 51 Yes(b)
Nuclear deferral
90 78 2024
COR settlement
88 91 Yes(b)
Deferred coal ash handling system costs
67 67 Yes(b)
Other235 166 (b)
Total regulatory assets5,388 3,479 
Less: current portion1,095 544 
Total noncurrent regulatory assets$4,293 $2,935 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)
$2,475 $2,785 (b)
Costs of removal(c)
1,769 2,009 Yes(f)
AROs – nuclear and other
1,038 2,053 (b)
Hedge cost deferrals
350 209 (b)
Accrued pension and OPEB(c)
44 44 Yes(h)
Provision for rate refunds
50 124 Yes(b)
Other 587 461 (b)
Total regulatory liabilities6,313 7,685 
Less: current portion530 487 
Total noncurrent regulatory liabilities$5,783 $7,198 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)     Included in rate base.
(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. 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.
(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 May 2022 for recovery of $327 million, which included deferrals through January 2022. This amount is expected to be recovered through August 2023. The next filing will be made in the first quarter of 2023. Duke Energy Carolinas submitted a fuel filing to the PSCSC in July 2022 for recovery of $79 million, which included deferrals through May 2022. The amount is expected to be recovered through September 2023. The next filing will be made in the third quarter of 2023.
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 includes an MYRP to recover projected capital investments during the three year MYRP period. In addition to the MYRP, the PBR Application includes an Earnings Sharing Mechanism, Residential Decoupling Mechanism and Performance Incentive Mechanisms as required by HB 951. If approved, the overall retail revenue increase would be $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 major 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. Duke Energy Carolinas plans to implement temporary rates, subject to refund, on September 1, 2023, and has requested permanent rates be effective by January 1, 2024. Duke Energy Carolinas cannot predict the outcome of this matter.
Oconee Nuclear Station Subsequent License Renewal
On June 7, 2021, Duke Energy Carolinas filed a subsequent license renewal (SLR) application for the Oconee Nuclear Station (ONS) with the U.S. Nuclear Regulatory Commission (NRC) to renew ONS’s operating license for an additional 20 years. The SLR would extend operations of the facility from 60 to 80 years. The current licenses for units 1 and 2 expire in 2033 and the license for unit 3 expires in 2034. By a Federal Register Notice dated July 28, 2021, the NRC provided a 60-day comment period for persons whose interest may be affected by the issuance of a subsequent renewed license for ONS to file a request for a hearing and a petition for leave to intervene. On September 27, 2021, Beyond Nuclear and Sierra Club (Petitioners) filed a Hearing Request and Petition to Intervene (Hearing Request) and a Petition for Waiver. The Hearing Request proposed three contentions and claimed that Duke Energy Carolinas did not satisfy the National Environmental Policy Act (NEPA) of 1969, as amended, or the NRC’s NEPA-implementing regulations. Following Duke Energy Carolinas' answer and the Petitioners' reply, on February 11, 2022, the Atomic Safety and Licensing Board (ASLB) issued its decision on the Hearing Request and found that the Petitioners failed to establish that the proposed contentions are litigable. The ASLB also denied the Petitioners' Petition for Waiver and terminated the proceeding.
On February 24, 2022, the NRC issued a decision in the SLR appeal related to Florida Power and Light's Turkey Point nuclear generating station in Florida. The NRC ruled that the NRC’s license renewal Generic Environmental Impact Statement (GEIS) does not apply to SLR because the GEIS does not address SLR. The decision overturned a 2020 NRC decision that found the GEIS applies to SLR. Although Turkey Point is not owned or operated by a Duke Energy Registrant, the NRC’s order applies to all SLR applicants, including ONS. The NRC order also indicated no subsequent renewed licenses will be issued until the NRC staff has completed an adequate NEPA review for each application. On April 5, 2022, the NRC approved a 24-month rulemaking plan that will enable the NRC staff to complete an adequate NEPA review. Although an SLR applicant may wait until the rulemaking is completed, the NRC also noted that an applicant may submit a supplement to its environmental report providing information on environmental impacts during the SLR period prior to the rulemaking being completed. On November 7, 2022, Duke Energy Carolinas submitted a supplement to its environmental report addressing environmental impacts during the SLR period. On December 19, 2022, the NRC published a notice in the Federal Register that the NRC will conduct a limited scoping process to gather additional information necessary to prepare an environmental impact statement (EIS) to evaluate the environmental impacts at ONS during the SLR period. The NRC received comments from the EPA and the Petitioners and these comments identify eighteen potential impacts that should be considered by the NRC in the EIS, which include, but are not limited to, climate change and flooding, environmental justice, severe accidents, and external events. Currently, the NRC expects to publish a draft EIS in October 2023.
On December 19, 2022, the NRC issued the Safety Evaluation Report (SER) for the safety portion of the SLR application. The NRC determined Duke Energy Carolinas met the requirements of the applicable regulations and identified actions that have been taken or will be taken to manage the effects of aging and address time-limited analyses. Duke Energy Carolinas and the NRC met with the Advisory Committee on Reactor Safeguards (ACRS) on February 2, 2023, to discuss issues regarding the SER and SLR application, after which the ACRS will issue a report discussing the result of its review.
Although the NRC’s GEIS applicability decision will delay completion of the SLR proceeding, Duke Energy Carolinas does not believe it changes the probability that the ONS subsequent renewed licenses will ultimately be issued, although Duke Energy Carolinas cannot guarantee the outcome of the license application process.
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. New depreciation rates were implemented for all of the nuclear facilities during the second quarter of 2021. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of these additional relicensing proceedings.
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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,418 $1,389 (g)(b)
AROs – nuclear and other
869 613 (c)
Deferred fuel and purchased power(l)
705 303 (e)2024
Accrued pension and OPEB(d)
417 351 Yes(j)
Storm cost securitized balance, net
720 759 2041
Storm cost deferrals
234 170 Yes(b)
Hedge costs deferrals
55 60 (b)
PISCC and deferred operating expenses
42 47 Yes2054
Retired generation facilities
149 171 Yes(b)
Deferred asset - Harris COLA
21 21 (b)
AMI
81 92 Yes(b)
Customer connect project
54 57 Yes(b)
Vacation accrual
43 42 2023
Incremental COVID-19 expenses
78 28 Yes(b)
DSM/EE(d)
180 218 (h)(h)
NCEMPA deferrals
157 165 (f)2042
Nuclear deferral
64 42 2024
COR settlement
32 32 Yes(b)
Deferred coal ash handling system costs
25 23 Yes(b)
Other70 68 (b)
Total regulatory assets5,414 4,651 
Less: current portion690 533 
Total noncurrent regulatory assets$4,724 $4,118 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(k)
$1,559 $1,695 (b)
Costs of removal(d)
2,269 2,955 Yes(i)
Hedge cost deferrals
252 155 (b)
Provision for rate refunds
28 87 Yes(b)
Other 344 357 (b)
Total regulatory liabilities4,452 5,249 
Less: current portion332 381 
Total noncurrent regulatory liabilities$4,120 $4,868 
(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.
(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, both discussed in Note 24. Portions are included in rate base.
(l)    Duke Energy Progress submitted a fuel filing to the NCUC in August 2022 for recovery of $251 million, which included deferrals through June 2022. This amount is expected to be recovered through November 2023. The next filing will be made in the second quarter of 2023. Duke Energy Progress submitted a fuel filing to the PSCSC in April 2022 for recovery of $44 million, which included deferrals through February 2022. This amount is expected to be recovered through June 2023. The next filing will be made in the second quarter of 2023.
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 includes an MYRP to recover projected capital investments during the three year MYRP period. In addition to the MYRP, the PBR Application includes an Earnings Sharing Mechanism, Residential Decoupling Mechanism and Performance Incentive Mechanisms as required by HB 951. If approved, the overall retail revenue increase would be $326 million in Year 1, $151 million in Year 2 and $138 million in Year 3, for a combined total of $615 million or 16% by late 2025. The rate increase is driven primarily by major 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. Duke Energy Progress plans to implement temporary rates, subject to refund, on June 1, 2023, and has requested permanent rates be effective by October 1, 2023. The evidentiary hearing has been scheduled to begin on May 1, 2023. 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. The PSCSC voted to allow Duke Energy Progress to implement new customer rates by April 1, 2023. A final written order is due from the PSCSC by March 1, 2023.
FERC Return on Equity Complaint
On October 16, 2020, North Carolina Electric Membership Corporation (NCEMC) filed a complaint at the FERC against Duke Energy Progress pursuant to Section 206 of the Federal Power Act (FPA), alleging that the 11% stated ROE component in the demand formula rate in the Power Supply and Coordination Agreement between NCEMC and Duke Energy Progress is unjust and unreasonable. On June 16, 2022, Duke Energy Progress submitted to the FERC an Offer of Settlement and Settlement Agreement (Settlement Agreement) between NCEMC and Duke Energy Progress. The Settlement Agreement provides for an ROE of 10%, effective January 1, 2022, among other contract modifications. On November 7, 2022, the FERC approved the Settlement Agreement.
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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$11 $10 (b)
AROs – nuclear and other
15 7 (b)
Deferred fuel and purchased power(h)
1,355 415 (f)2024
Accrued pension and OPEB(c)
342 374 Yes(g)
Nuclear asset securitized balance, net
881 937 2036
Storm cost deferrals(c)
325 19 (f)(b)
Hedge costs deferrals(c)
73 77 Yes2038
Retired generation facilities(c)
94 94 Yes2044
AMI(c)
30 38 Yes2032
Customer connect project(c)
82 67 Yes2037
Costs of removal regulatory asset(c)
221 107 (d)(b)
Qualifying facility contract buyouts(c)
81 94 Yes2034
Other55 49 (d)(b)
Total regulatory assets3,565 2,288 
Less: current portion1,143 497 
Total noncurrent regulatory assets$2,422 $1,791 
Net regulatory liability related to income taxes(c)
$633 $699 (b)
DOE Settlement
154 — 
Other 90 97 (d)(b)
Total regulatory liabilities877 796 
Less: current portion244 98 
Total noncurrent regulatory liabilities$633 $698 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Certain costs earn/pay a return.
(e)    Earns a debt return/interest once collections begin.
(f)    Earns commercial paper rate.
(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(h)    Duke Energy Florida submitted a fuel filing to the FPSC in January 2023 for recovery of $795 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 expected recovery period is April 2023 through March 2024.
2021 Settlement Agreement
On January 14, 2021, Duke Energy Florida filed a Settlement Agreement (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 Agreement also provided that Duke Energy Florida will be able to retain the $173 million retail portion 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. The full amount of the $173 million is expected to be recognized between the years of 2023 and 2024, while also remaining within the approved ROE band. 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.
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. The program consists 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 the oral argument 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. 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 Office of Public Counsel filed a notice of appeal of this order to the Florida Supreme Court. Duke Energy Florida cannot predict the outcome of this matter.
Hurricane Ian
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 December 31, 2022 Consolidated Balance Sheets include an estimate of approximately $353 million 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. Duke Energy Florida cannot predict the outcome of this matter.
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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$— $33 Yes(b)
Deferred fuel and purchased power
54 38 2023
Accrued pension and OPEB
129 133 (e)
Storm cost deferrals
14 2 2023
Hedge costs deferrals
2 5 (b)
PISCC and deferred operating expenses(c)
15 16 Yes2083
AMI
18 24 (b)
Customer connect project
54 41 (b)
CEP deferral
190 161 Yes(b)
Deferred pipeline integrity costs
28 24 Yes(b)
Propane caverns
26 — (b)
Manufactured gas plant (MGP)
— 104 (b)
Other154 126 (b)
Total regulatory assets684 707 
Less: current portion103 72 
Total noncurrent regulatory assets$581 $635 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$496 $602 (b)
Costs of removal
9 39 (d)
Accrued pension and OPEB
21 21 (e)
Provision for rate refunds
— 61 
Other 107 78 (b)
Total regulatory liabilities633 801 
Less: current portion99 62 
Total noncurrent regulatory liabilities$534 $739 
(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 and an ROE of 10.3%. This is an approximate 3.3% average increase in the customer's total bill across all customer classes. The drivers for this case are capital invested since Duke Energy Ohio's last electric distribution base rate case in 2017. Duke Energy Ohio is also seeking to adjust the caps on its Distribution Capital Investment Rider (DCI Rider). The Staff of the PUCO (Staff) report was issued on May 19, 2022, recommending an increase in electric distribution base rates of $2 million to $15 million with an ROE range of 8.84% to 9.85%. On September 19, 2022, Duke Energy Ohio filed a Stipulation and Recommendation with the PUCO, which includes an increase in overall electric distribution base rates of approximately $23 million and an ROE of 9.5%. The stipulation is among all but one party to the proceeding. The PUCO issued an order on December 14, 2022, approving the Stipulation without material modification. Rates went into effect on January 3, 2023. The Ohio Consumers' Counsel (OCC) filed an application for rehearing on January 13, 2023. 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. Duke Energy Ohio took the following actions:
•On March 27, 2020, Duke Energy Ohio filed an application for rehearing seeking clarification on the final true up and reconciliation process after 2020. On November 18, 2020, the PUCO issued an order replacing the cost cap previously imposed upon Duke Energy Ohio with a cap on shared savings recovery. On December 18, 2020, Duke Energy Ohio filed an additional application for rehearing challenging, among other things, the imposition of the cap on shared savings. On January 13, 2021, the application for rehearing was granted for further consideration.
•On October 9, 2020, Duke Energy Ohio filed an application to implement a voluntary energy efficiency program portfolio to commence on January 1, 2021. The application proposed a mechanism for recovery of program costs and a benefit associated with avoided transmission and distribution costs. This application remains under review.
•On November 18, 2020, the PUCO issued an order directing all utilities to set their energy efficiency riders to zero effective January 1, 2021, and to file a separate application for final reconciliation of all energy efficiency costs prior to December 31, 2020. Effective January 1, 2021, Duke Energy Ohio suspended its energy efficiency programs.
•On June 14, 2021, the PUCO requested each utility to file by July 15, 2021, a proposal to reestablish low-income programs through December 31, 2021. Duke Energy Ohio filed its application on July 14, 2021.
•On February 23, 2022, the PUCO issued its Fifth Entry on Rehearing that 1) affirmed its reduction in Duke Energy Ohio's shared savings cap; 2) denied rehearing/clarification regarding lost distribution revenues and shared savings recovery for periods after December 31, 2020; and 3) directed Duke Energy Ohio to submit an updated application with exhibits.
•On March 25, 2022, Duke Energy Ohio filed its Amended Application consistent with the PUCO's order.
Duke Energy Ohio cannot predict the outcome of this matter.
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 and an ROE of 10.3%. This is an approximate 5.6% average increase in the customer's total bill across all customer classes. The drivers for this case are capital invested since Duke Energy Ohio's last natural gas base rate case in 2012. Duke Energy Ohio is also seeking to adjust the caps on its Capital Expenditure Program Rider (CEP Rider). The Staff of the PUCO (Staff) report was issued on December 21, 2022, recommending an increase in natural gas base rates of $24 million to $36 million, with an equity ratio of 52% and an ROE range of 9.03% to 10.04%. A procedural schedule was issued on December 22, 2022, scheduling the evidentiary hearing to commence on March 28, 2023. Duke Energy Ohio cannot predict the outcome of this matter.
Natural Gas Pipeline Extension
Duke Energy Ohio installed a new natural gas pipeline (the Central Corridor Project) in its Ohio service territory to increase system reliability and enable the retirement of older infrastructure. Construction of the pipeline extension was completed and placed in service on March 14, 2022, with a total cost of approximately $170 million (excluding overheads and AFUDC).
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 new rider to implement the benefits of the Tax Act for natural gas customers. The new 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, resolves 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 subject to normalization rules will be refunded consistent with federal law through a new rider. Deferred income taxes not subject to normalization rules were written off. 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 and an ROE of 10.35%. This is an overall increase in rates of approximately 17.8%. The request for rate increase is 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 is also requesting new programs and tariff updates, including a voluntary community-based renewable subscription program and two EV charging programs. A procedural schedule was issued on December 19, 2022, scheduling the evidentiary hearing for May 9, 2023. New rates are anticipated to go into effect around July 15, 2023. 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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$385 $749 Yes(b)
Deferred fuel and purchased power
138 158 2023
Accrued pension and OPEB
214 222 (e)
Hedge costs deferrals
20 35 (b)
PISCC and deferred operating expenses(c)
255 262 Yes(b)
Retired generation facilities(c)
34 38 Yes2030
AMI
15 17 2031
Customer connect project
19 11 (b)
Other44 63 (b)
Total regulatory assets1,124 1,555 
Less: current portion249 277 
Total noncurrent regulatory assets$875 $1,278 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$840 $908 (b)
Costs of removal
531 575 (d)
Hedge cost deferrals
81 — (b)
Accrued pension and OPEB
104 113 (e)
Other 85 96 (b)
Total regulatory liabilities1,641 1,692 
Less: current portion187 127 
Total noncurrent regulatory liabilities$1,454 $1,565 
(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. Approximately 50% of the reduction was due to a prospective change in depreciation and use of regulatory asset for the end-of-life inventory at retired generating plants, approximately 20% was due to the approved ROE of 9.7% versus the requested ROE of 10.4% and approximately 20% was related to miscellaneous earnings neutral adjustments. Step one rates were estimated to be approximately 75% of the total 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 has been 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. An evidentiary hearing is scheduled to begin March 3, 2023. Duke Energy Indiana cannot predict the outcome of this matter.
2020 Indiana Coal Ash Recovery Case
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 the Indiana Department of Environmental Management (IDEM) as well as continuing deferral, with carrying costs, on the balance. An evidentiary hearing was held on September 14, 2020. Briefing was completed by mid-September 2021. 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. Duke Energy Indiana is assessing its appellate options and must file a petition to transfer to the Indiana Supreme Court by April 7, 2023. As a result of the court's 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. 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 the 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. 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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – nuclear and other
$27 $22 (d)
Accrued pension and OPEB(c)
119 82 (g)
Vacation accrual
12 12 2023
Derivatives – natural gas supply contracts(f)
168 139 
Deferred pipeline integrity costs(c)
93 84 2025
Amounts due from customers
57 85 (e)(b)
Other35 33 (b)
Total regulatory assets511 457 
Less: current portion119 141 
Total noncurrent regulatory assets$392 $316 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$459 $510 (b)
Costs of removal(c)
573 572 (d)
Other 66 32 (e)(b)
Total regulatory liabilities1,098 1,114 
Less: current portion74 56 
Total noncurrent regulatory liabilities$1,024 $1,058 
(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.
2022 South Carolina Rate Case
On April 1, 2022, Piedmont filed an application with the PSCSC for a rate increase for retail customers of approximately $7 million, which represents an approximate 3.4% increase in retail revenues. An evidentiary hearing was held on August 15, 2022. On September 15, 2022, the PSCSC delivered its decision, which included an ROE of 9.3% and a capital structure of 52.2% equity and 47.8% debt and issued its final order on October 6, 2022. Revised customer rates became effective in October 2022 and resulted in a rate decrease for retail customers of approximately $1 million.
Tennessee Annual Review Mechanism
On October 10, 2022, the TPUC approved Piedmont’s petition to adopt an Annual Review Mechanism (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 is 2022, and the initial rate adjustments request will be filed in May 2023 for rates effective October 1, 2023.
OTHER REGULATORY MATTERS
Atlantic Coast Pipeline, LLC
Atlantic Coast Pipeline (ACP pipeline) was planned to be an approximately 600-mile interstate natural gas pipeline running from West Virginia to North Carolina. Duke Energy indirectly owns a 47% interest, which is accounted for as an equity method investment through its Gas Utilities and Infrastructure segment.
As a result of the uncertainty created by various legal rulings, the potential impact on the cost and schedule for the project, the ongoing legal challenges and the risk of additional legal challenges and delays through the construction period and Dominion’s decision to sell substantially all of its gas transmission and storage segment assets, Duke Energy's Board of Directors and management decided that it was not prudent to continue to invest in the project. On July 5, 2020, Duke Energy and Dominion announced the cancellation of the ACP pipeline project.
As part of the pretax charges to earnings of approximately $2.1 billion recorded for the year ended December 31, 2020, within Equity in earnings (losses) of unconsolidated affiliates on the Duke Energy Consolidated Statements of Operations, Duke Energy established liabilities related to the cancellation of the ACP pipeline project. In February 2021, Duke Energy paid approximately $855 million to fund ACP's outstanding debt, relieving Duke Energy of its guarantee. At December 31, 2022, there is $59 million and $47 million within Other Current Liabilities and Other Noncurrent Liabilities, respectively, in the Gas Utilities and Infrastructure segment. The liabilities represent Duke Energy's obligation of approximately $106 million to satisfy remaining ARO requirements to restore construction sites.
See Notes 8 and 13 for additional information regarding this transaction.
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 options being considered to meet those needs. IRPs filed by the Subsidiary Registrants included planning assumptions to potentially retire certain coal-fired generating facilities in North Carolina and Indiana earlier than their current estimated useful lives. The NCUC concluded in its Carbon Plan order that the projected retirements 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 continues to evaluate the potential need to retire these coal-fired generating facilities earlier than the current estimated useful lives and plans to seek regulatory recovery for amounts that would not be otherwise recovered when any of these assets are retired.
The table below contains the net carrying value of generating facilities planned for retirement or included in recent IRPs or Carbon Plan as evaluated for potential retirement. Dollar amounts in the table below are included in Net property, plant and equipment on the Consolidated Balance Sheets as of December 31, 2022, and exclude capitalized asset retirement costs.
Remaining Net
CapacityBook Value
(in MW)(in millions)
Duke Energy Carolinas
Allen Steam Station Unit 1(a)
167 $10 
Allen Steam Station Unit 5(b)
259 233 
Cliffside Unit 5(b)
546 344 
Marshall Units 1-2(b)
760428
Duke Energy Progress
Mayo Unit 1(b)
713 639 
Roxboro Units 3-4(b)
1,409 425 
Duke Energy Florida
Crystal River Units 4-5(c)
1,442 1,549 
Duke Energy Indiana
Gibson Units 1-5(d)
2,845 2,043 
Cayuga Units 1-2(d)
1,005 622 
Total Duke Energy9,146 $6,293 
(a)    As part of the 2015 resolution of a lawsuit involving alleged New Source Review violations, Duke Energy Carolinas must retire Allen Steam Station Unit 1 by December 31, 2024.
(b)    These units were included in the IRP filed by Duke Energy Carolinas and Duke Energy Progress in South Carolina on September 1, 2020, and in the Carbon Plan adopted by the NCUC in December 2022. The long-term energy options considered could result in retirement of these units earlier than their current estimated useful lives.
(c)    On January 14, 2021, Duke Energy Florida filed the 2021 Settlement agreement with the FPSC, which proposed depreciation rates reflecting retirement dates for Duke Energy Florida's last two coal-fired generating facilities, Crystal River Units 4-5, eight years ahead of schedule in 2034 rather than in 2042. The FPSC approved the 2021 Settlement on May 4, 2021. The remaining net book value reflected in the table above excludes $200 million of accelerated deprecation collected from retail customers pursuant to Duke Energy Florida's 2017 Settlement.
(d)    The rate case filed July 2, 2019, included proposed depreciation rates reflecting retirement dates from 2026 to 2038. The depreciation rates reflecting these updated retirement dates were approved by the IURC as part of the rate case order issued on June 29, 2020.
v3.22.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2022
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 $13.7 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 $13.2 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 $138 million times the current 96 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 $20.5 million per year per licensed reactor for each incident. The assessment may be subject to state premium taxes.
Nuclear Property and Accidental Outage Coverage
Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are members of Nuclear Electric Insurance Limited (NEIL), an industry mutual insurance company, which provides property damage, nuclear accident decontamination and premature decommissioning insurance for each station for losses resulting from damage to its nuclear plants, either due to accidents or acts of terrorism. Additionally, NEIL provides accidental outage coverage for losses in the event of a major accidental outage at an insured nuclear station.
Pursuant to regulations of the NRC, each company’s property damage insurance policies provide that all proceeds from such insurance be applied, first, to place the plant in a safe and stable condition after a qualifying accident and second, to decontaminate the plant before any proceeds can be used for decommissioning, plant repair or restoration.
Losses resulting from acts of terrorism are covered as common occurrences, such that if terrorist acts occur against one or more commercial nuclear power plants insured by NEIL within a 12-month period, they would be treated as one event and the owners of the plants where the act occurred would share one full limit of liability. The full limit of liability is currently $3.2 billion. NEIL sublimits the total aggregate for all of their policies for non-nuclear terrorist events to approximately $1.8 billion.
Each nuclear facility has accident property damage, nuclear accident decontamination and premature decommissioning liability insurance from NEIL with limits of $1.5 billion, except for Crystal River Unit 3. Crystal River Unit 3’s limit is $50 million and is on an actual cash value basis. All nuclear facilities except for Catawba and Crystal River Unit 3 also share an additional $1.25 billion nuclear accident insurance limit above their dedicated underlying limit. This shared additional excess limit is not subject to reinstatement in the event of a loss. Catawba has a dedicated $1.25 billion of additional nuclear accident insurance limit above its dedicated underlying limit. Catawba and Oconee also have an additional $750 million of non-nuclear accident property damage limit. All coverages are subject to sublimits and significant deductibles.
NEIL’s Accidental Outage policy provides some coverage, similar to business interruption, for losses in the event of a major accident property damage outage of a nuclear unit. Coverage is provided on a weekly limit basis after a significant waiting period deductible and at 100% of the applicable weekly limits for 52 weeks and 80% of the applicable weekly limits for up to the next 110 weeks. Coverage is provided until these applicable weekly periods are met, where the accidental outage policy limit will not exceed $490 million for Catawba, McGuire, Harris, Brunswick, Oconee and 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 $151 million, $93 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 Other within Other Noncurrent Liabilities on the Consolidated Balance Sheets.
(in millions)December 31, 2022December 31, 2021
Reserves for Environmental Remediation
Duke Energy$84 $88 
Duke Energy Carolinas22 19 
Progress Energy19 23 
Duke Energy Progress8 11 
Duke Energy Florida11 11 
Duke Energy Ohio33 34 
Duke Energy Indiana3 4 
Piedmont7 9 
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
Michael Johnson et al. v. Duke Energy Corporation et al.
On September 23, 2020, plaintiff Michael Johnson, a former Duke Energy employee and participant in the Duke Energy Retirement Savings Plan (Plan) brought suit on his own behalf and on behalf of other participants and beneficiaries similarly situated against Duke Energy Corporation, the Duke Energy Benefits Committee, and other unnamed individual defendants. The complaint, which was subsequently amended to add a current participant as a plaintiff on November 23, 2020, alleges that the defendants breached their fiduciary duties with respect to certain fees associated with the Plan in violation of the Employee Retirement Income Security Act of 1974 and seeks certification of a class of all individuals who were participants or beneficiaries of the Plan at any time on or after September 23, 2014. The defendants filed a motion to dismiss the plaintiffs’ amended complaint on December 18, 2020. On January 31, 2022, the court denied the defendants' motion to dismiss. On February 28, 2022, Duke Energy responded to the amended complaint. Discovery commenced and the parties exchanged preliminary disclosures. After review of these disclosures, the plaintiffs agreed to voluntarily dismiss the suit and the parties subsequently filed a joint stipulation of voluntary dismissal with prejudice on April 29, 2022, ending this litigation.
Texas Storm Uri Tort Litigation
Duke Energy Corporation and several Duke Energy renewables project companies in the ERCOT market were named in more than thirty lawsuits arising out of Texas Storm Uri, which occurred in February 2021. Duke Energy Corporation was dismissed from the suits, leaving two suits in which individual wind and solar projects are named. These lawsuits seek recovery for property damages, personal injury and wrongful death allegedly caused by the power outages that plaintiffs claim were the collective failure of generators, transmission and distribution utilities ("TDUs"), retail energy providers, natural gas providers, co-ops and municipalities that generate power and ERCOT, all of which were originally sued by all plaintiffs. The cases were consolidated into a Texas state court multidistrict litigation (MDL) proceeding for discovery and pre-trial motions. Five cases were designated for motions to dismiss and all other cases were stayed. On January 28, 2023, the Court denied the generators' and TDUs' motions to dismiss the negligence claims but dismissed the tortious interference and conspiracy claims. The motions to dismiss ERCOT and the natural gas defendants were also granted. The generator and TDU defendants filed a petition for mandamus in each of the five cases seeking to overturn the denials on February 10, 2023. If the Texas Court of Appeals accepts the appeals, it will set a briefing schedule. The remaining cases that are part of the MDL are currently stayed, except that plaintiffs have been given leave to amend their pleadings. Plaintiffs began amending existing lawsuits and filing new lawsuits on behalf of hundreds of plaintiffs against hundreds of defendants, including in some cases, by again naming Duke Energy Corporation and naming, for the first time, Duke Energy Renewables, LLC. Plaintiffs have also re-named ERCOT as a defendant. As new cases are served, they are being brought into the MDL and are subject to the stay in the MDL proceeding. Duke Energy cannot predict the outcomes of these matters. 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 and that Duke Energy did not adequately warn about the dam and that Duke Energy Carolinas created a dangerous and hidden hazard on the Dan River in building and maintaining the low head dam. Discovery has commenced and is scheduled to be completed on or before August 23, 2023. The parties are preparing for mediation, which is scheduled for March 22, 2023. Dispositive motions are due to be filed by September 6, 2023, and the case is scheduled to be trial-ready by October 2, 2023. Duke Energy Carolinas cannot predict the outcome of this matter.
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 an 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. Duke Energy Carolinas is cooperating with the Office of Enforcement but cannot predict the outcome of this investigation.
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 will be completed on May 3, 2023. 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 $457 million and $501 million at December 31, 2022, and 2021, respectively. These reserves are classified in Other within Other Noncurrent Liabilities and Other within Current Liabilities on the Consolidated Balance Sheets. The change in the reserves is a result of a third-party study completed in 2021 as well as settlements made throughout the year. These reserves are based upon Duke Energy Carolinas' best estimate for current and future asbestos claims through 2042 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 2042 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 $595 million and $644 million at December 31, 2022, and 2021, 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 $12 million for Duke Energy and Duke Energy Carolinas as of December 31, 2022, and December 31, 2021. 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 Progress and Duke Energy Florida
Spent Nuclear Fuel Matters
On June 18, 2018, Duke Energy Progress and Duke Energy Florida sued the U.S. in the U.S. Court of Federal Claims for damages incurred for the period 2014 through 2018. The lawsuit claimed the DOE breached a contract in failing to accept spent nuclear fuel under the Nuclear Waste Policy Act of 1982 and asserted damages for the cost of on-site storage in the amount of $100 million and $200 million for Duke Energy Progress and Duke Energy Florida, respectively.
On March 30, 2022, the DOE and Duke Energy Progress executed a settlement agreement, pursuant to which Duke Energy Progress would receive damages for costs incurred between 2014 and 2018 and would be able to submit future costs on a defined schedule. In April 2022, Duke Energy Progress received $87 million in proceeds that related to damages incurred in 2014 through 2018.
On May 2, 2022, the DOE and Duke Energy Florida executed a settlement agreement, pursuant to which Duke Energy Florida would receive damages for costs incurred between 2014 and 2018 and would be able to submit costs incurred in 2019 and 2020 pursuant to an audit process. In June 2022, Duke Energy Florida received $180 million in proceeds that related to damages incurred in 2014 through 2018.
Duke Energy Indiana
Coal Ash Basin Closure Plan Appeal
On January 27, 2020, Hoosier Environmental Council (HEC) filed a Petition for Administrative Review with the Indiana Office of Environmental Adjudication challenging the Indiana Department of Environmental Management’s (IDEM's) December 10, 2019 partial approval of Duke Energy Indiana’s ash pond closure plan at Duke Energy's Gallagher power station. After hearing oral arguments in early April 2021 on Duke Energy Indiana's and HEC's competing Motions for Summary Judgment, on May 4, 2021, the administrative court rejected all of HEC’s claims and issued a ruling in favor of Duke Energy Indiana. On June 3, 2021, HEC filed an appeal in Superior Court to seek judicial review of the order. Briefing on the appeal was completed on December 13, 2021.
On January 11, 2022, Duke Energy Indiana received a compliance obligation letter from the EPA notifying the company that the two basins at issue in the litigation are subject to requirements of the CCR Rule. The letter does not provide a deadline for compliance. Duke Energy Indiana is proceeding with surface impoundment closure at its Indiana sites consistent with EPA’s guidance, the federal CCR rule, and Indiana law, as applicable.
On April 21, 2022, HEC filed a motion requesting that the court hold a hearing within 45 days and also take judicial notice of the EPA's January 11, 2022 letter. On April 22, 2022, Duke Energy Indiana sent IDEM a letter withdrawing the closure plans for the Gallagher North Ash Pond and Primary Pond Ash Fill. After acknowledgment by IDEM of withdrawal of these closure plans, Duke Energy Indiana filed a Motion to Dismiss the litigation as moot on April 28, 2022, which IDEM supported, and the court granted the Motion to Dismiss on July 8, 2022.
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 coal combustion residuals-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. 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 and Duke Energy Ohio have ongoing purchased power contracts, including renewable energy contracts, with other utilities, wholesale marketers, co-generators and qualified facilities. These purchased power contracts generally provide for capacity and energy payments. In addition, Duke Energy Progress and Duke Energy Florida have various contracts to secure transmission rights.
The following table presents executory purchased power contracts with terms exceeding one year, excluding contracts classified as leases.
  Minimum Purchase Amount at December 31, 2022
Contract
(in millions) Expiration20232024202520262027ThereafterTotal
Duke Energy Progress(a)
2028-2032$22 $21 $22 $18 $19 $27 $129 
Duke Energy Florida(b)
2024-2025300 267 91 — — — 658 
Duke Energy Ohio(c)
202455 36 — — — — 91 
(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. 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 the fuel adjustment or PGA procedures and prudence reviews in North Carolina and South Carolina and under the Tennessee Incentive Plan in Tennessee. In the Midwest, these costs are recovered via the Gas Cost Recovery Rate in Ohio or the Gas Cost Adjustment Clause in Kentucky. The time periods for fixed payments under pipeline and storage capacity contracts are up to 20 years. The time periods for fixed payments under natural gas supply contracts are up to four years. The time period for the natural gas supply purchase commitments is up to nine 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, 2022.
(in millions)20232024202520262027ThereafterTotal
Duke Energy Ohio$85 $101 $85 $56 $52 $616 $995 
Piedmont319 313 267 213 203 587 1,902 
v3.22.4
Leases
 12 Months Ended
Dec. 31, 2022
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, 2022, and 2021, and a long-term net investment basis of $201 million and $203 million as of December 31, 2022, and 2021, 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, 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 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$245 $43 $155 $83 $72 $11 $18 $7 
Short-term lease expense(a)
5 — 2 1 1 — 2 — 
Variable lease expense(a)
41 17 22 10 12 — — 1 
Finance lease expense
Amortization of leased assets(b)
219 5 37 18 19 — 1 — 
Interest on lease liabilities(c)
55 33 48 42 6 — — — 
Total finance lease expense274 38 85 60 25 — 1 — 
Total lease expense$565 $98 $264 $154 $110 $11 $21 $8 
(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, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
2023$225 $23 $118 $64 $54 $2 $6 $4 
2024207 21 110 56 54 2 5 4 
2025175 14 96 42 54 2 5 4 
2026161 13 99 45 54 2 4 — 
2027134 9 73 46 27 2 4 — 
Thereafter322 37 253 209 44 15 45 1 
Total operating lease payments1,224 117 749 462 287 25 69 13 
Less: present value discount(169)(20)(107)(76)(31)(7)(18)— 
Total operating lease liabilities(a)
$1,055 $97 $642 $386 $256 $18 $51 $13 
(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, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
2023$198 $38 $103 $78 $25 $1 
2024143 38 88 79 9 1 
202576 38 85 80 5 1 
202677 38 86 81 5 1 
202774 38 82 81 1 1 
Thereafter584 427 555 555 — 23 
Total finance lease payments1,152 617 999 954 45 28 
Less: amounts representing interest(388)(333)(371)(367)(4)(19)
Total finance lease liabilities$764 $284 $628 $587 $41 $9 
The following tables contain additional information related to leases.
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 
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,136 $92 $691 $389 $302 $19 $53 $16 
FinanceNet property, plant and equipment950 302 729 627 102 — 7 — 
Total lease assets$2,086 $394 $1,420 $1,016 $404 $19 $60 $16 
Liabilities
Current
OperatingOther current liabilities$184 $22 $94 $50 $44 $1 $4 $5 
FinanceCurrent maturities of long-term debt151 6 61 41 20 — — — 
Noncurrent
OperatingOperating lease liabilities940 78 606 350 256 18 50 14 
FinanceLong-Term Debt764 283 629 588 41 — 10 — 
Total lease liabilities$2,039 $389 $1,390 $1,029 $361 $19 $64 $19 
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(b)
$111 $10 $— $— $— $— $— $— 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$245 $25 $117 $62 $55 $2 $6 $5 
Operating cash flows from finance leases55 33 48 42 6 — — — 
Financing cash flows from finance leases219 5 37 18 19 — 1 — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating(b)
$182 $4 $99 $99 $— $— $— $— 
Finance322 — 322 322 — — — — 
(a)    No amounts were classified as investing cash flows from operating leases.
(b)    Does not include ROU assets recorded as a result of the adoption of the new lease standard.
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 %— %
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases89810716164
Finance leases1018131311— 24— 
Weighted average discount rate(a)
Operating leases3.5 %3.5 %3.6 %3.4 %3.8 %4.2 %4.1 %3.6 %
Finance leases7.3 %11.6 %9.0 %9.0 %8.2 %— %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, 2022, and 2021, and a long-term net investment basis of $201 million and $203 million as of December 31, 2022, and 2021, 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, 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 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$245 $43 $155 $83 $72 $11 $18 $7 
Short-term lease expense(a)
5 — 2 1 1 — 2 — 
Variable lease expense(a)
41 17 22 10 12 — — 1 
Finance lease expense
Amortization of leased assets(b)
219 5 37 18 19 — 1 — 
Interest on lease liabilities(c)
55 33 48 42 6 — — — 
Total finance lease expense274 38 85 60 25 — 1 — 
Total lease expense$565 $98 $264 $154 $110 $11 $21 $8 
(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, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
2023$225 $23 $118 $64 $54 $2 $6 $4 
2024207 21 110 56 54 2 5 4 
2025175 14 96 42 54 2 5 4 
2026161 13 99 45 54 2 4 — 
2027134 9 73 46 27 2 4 — 
Thereafter322 37 253 209 44 15 45 1 
Total operating lease payments1,224 117 749 462 287 25 69 13 
Less: present value discount(169)(20)(107)(76)(31)(7)(18)— 
Total operating lease liabilities(a)
$1,055 $97 $642 $386 $256 $18 $51 $13 
(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, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
2023$198 $38 $103 $78 $25 $1 
2024143 38 88 79 9 1 
202576 38 85 80 5 1 
202677 38 86 81 5 1 
202774 38 82 81 1 1 
Thereafter584 427 555 555 — 23 
Total finance lease payments1,152 617 999 954 45 28 
Less: amounts representing interest(388)(333)(371)(367)(4)(19)
Total finance lease liabilities$764 $284 $628 $587 $41 $9 
The following tables contain additional information related to leases.
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 
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,136 $92 $691 $389 $302 $19 $53 $16 
FinanceNet property, plant and equipment950 302 729 627 102 — 7 — 
Total lease assets$2,086 $394 $1,420 $1,016 $404 $19 $60 $16 
Liabilities
Current
OperatingOther current liabilities$184 $22 $94 $50 $44 $1 $4 $5 
FinanceCurrent maturities of long-term debt151 6 61 41 20 — — — 
Noncurrent
OperatingOperating lease liabilities940 78 606 350 256 18 50 14 
FinanceLong-Term Debt764 283 629 588 41 — 10 — 
Total lease liabilities$2,039 $389 $1,390 $1,029 $361 $19 $64 $19 
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(b)
$111 $10 $— $— $— $— $— $— 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$245 $25 $117 $62 $55 $2 $6 $5 
Operating cash flows from finance leases55 33 48 42 6 — — — 
Financing cash flows from finance leases219 5 37 18 19 — 1 — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating(b)
$182 $4 $99 $99 $— $— $— $— 
Finance322 — 322 322 — — — — 
(a)    No amounts were classified as investing cash flows from operating leases.
(b)    Does not include ROU assets recorded as a result of the adoption of the new lease standard.
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 %— %
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases89810716164
Finance leases1018131311— 24— 
Weighted average discount rate(a)
Operating leases3.5 %3.5 %3.6 %3.4 %3.8 %4.2 %4.1 %3.6 %
Finance leases7.3 %11.6 %9.0 %9.0 %8.2 %— %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.
v3.22.4
Debt and Credit Facilities
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Debt and Credit Facilities DEBT AND CREDIT FACILITIES
Summary of Debt and Related Terms
The following tables summarize outstanding debt and includes debt attributable to the Commercial Renewables Disposal Groups. See Note 2 for further details.
 December 31, 2022
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2023-20824.20 %$29,585 $1,150 $2,600 $— $950 $1,330 $697 $3,390 
Secured debt, maturing 2023-20524.11 %5,632 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 2023-2051(b)
7.90 %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)
(383)(70)(132)(59)(70)(12)(22)(18)
Total debt 4.09 %$75,167 $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)
 (4,154)(1,018)(697)(369)(328)(475)(303)(45)
Total long-term debt(g)
$67,061 $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 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 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.
 December 31, 2021
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2022-20823.71 %$24,564 $1,150 $2,250 $— $150 $1,330 $700 $2,990 
Secured debt, maturing 2022-20522.50 %5,584 1,094 2,397 1,120 1,278 — — — 
First mortgage bonds, maturing 2022-2051(a)
3.87 %31,026 10,507 15,450 8,375 7,075 1,850 3,219 — 
Finance leases, maturing 2022-2051(b)
5.81 %915 289 690 629 61 — 10 — 
Tax-exempt bonds, maturing 2027-2041(c)
0.65 %360 — 48 48 — 27 285 — 
Notes payable and commercial paper(d)
0.35 %3,929 — — — — — — — 
Money pool/intercompany borrowings — 526 2,959 322 199 128 150 518 
Fair value hedge carrying value adjustment  4 4 — — — — — — 
Unamortized debt discount and premium, net(e)
 1,119 (21)(34)(19)(14)(27)(18)(6)
Unamortized debt issuance costs(f)
(362)(67)(128)(54)(68)(13)(23)(16)
Total debt 3.50 %$67,139 $13,482 $23,632 $10,421 $8,681 $3,295 $4,323 $3,486 
Short-term notes payable and commercial paper  (3,304)— — — — — — — 
Short-term money pool/intercompany borrowings — (226)(2,809)(172)(199)(103)— (518)
Current maturities of long-term debt(g)
 (3,387)(362)(1,082)(556)(76)— (84)— 
Total long-term debt(g)
$60,448 $12,894 $19,741 $9,693 $8,406 $3,192 $4,239 $2,968 
(a)    Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)    Duke Energy includes $256 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 $1,121 million and $100 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(f)    Duke Energy includes $29 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, 2022
Unsecured Debt
Duke Energy (Parent)April 20232.875 %$350 
Duke Energy (Parent)(a)
June 20233.469 %500 
Duke Energy (Parent)October 20233.950 %400 
Duke Energy Ohio(a)
October 20234.272 %150 
Duke Energy Indiana(a)
October 20234.118 %300 
First Mortgage Bonds
Duke Energy CarolinasMarch 20232.500 %500 
Duke Energy CarolinasMarch 20233.050 %500 
Duke Energy ProgressSeptember 20233.375 %300 
Duke Energy OhioSeptember 20233.800 %300 
Other(b)
854 
Current maturities of long-term debt$4,154 
(a)    Debt has a floating interest rate.
(b)    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, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy(a)
CarolinasEnergyProgressFloridaOhioIndianaPiedmont
2023$4,154 $1,018 $697 $369 $328 $475 $303 $45 
20243,216 19 939 72 867 — 4 40 
20254,322 491 1,040 975 65 245 4 205 
20262,682 621 345 279 66 45 4 40 
20273,203 323 947 233 714 102 177 300 
Thereafter52,999 11,884 18,642 9,238 7,753 2,415 3,853 2,760 
Total long-term debt, including current maturities$70,576 $14,356 $22,610 $11,166 $9,793 $3,282 $4,345 $3,390 
(a)    Excludes $1,169 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, 2022 and 2021
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 2023, Duke Energy Carolinas issued $1.8 billion of first mortgage bonds. The issuance was split between a $900 million,10-year tranche at 4.95% and a $900 million, 30-year tranche at 5.35%. The net proceeds will be used to refinance $1 billion of Duke Energy Carolinas bonds maturing in March 2023, to pay down short-term debt and for general company purposes.
The following tables summarize significant debt issuances (in millions).
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(d)
December 20255.000 %500 500 — — — — 
December 2022(d)
December 20275.000 %500 500 — — — — 
First Mortgage Bonds
March 2022(e)
March 20322.850 %500 — 500 — — — 
March 2022(e)
March 20523.550 %650 — 650 — — — 
March 2022(e)
April 20323.400 %500 — — 500 — — 
March 2022(e)
April 20524.000 %

400 — — 400 — — 
November 2022(f)
November 20525.950 %500 — — — 500 — 
Tax-exempt Bonds
June 2022(g)
September 20304.000 %168 168 — — — — 
June 2022(g)
November 20394.250 %234 234 — — — — 
September 2022(h)
October 20463.300 %200 — — 200 — 
September 2022(i)
October 20463.700 %210 — — 210 — 
September 2022(i)
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 outstanding intercompany 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 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)Proceeds will be used to repay a portion of commercial paper and for general corporate purposes.
(e)Debt issued to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework.
(f)Debt issued to repay a portion of outstanding intercompany short-term debt and for general company purposes.
(g)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.
(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, 2026.
(i)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.
Year Ended December 31, 2021
DukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaPiedmont
Unsecured Debt
March 2021a)
March 20312.500 %$350 $— $— $— $— $350 
June 2021(b)(c)
June 20230.299 %500 500 — — — — 
June 2021(c)
June 20312.550 %1,000 1,000 — — — — 
June 2021(c)
June 20413.300 %750 750 — — — — 
June 2021(c)
June 20513.500 %750 750 — — — — 
September 2021(d)
January 20823.250 %500 500 — — — — 
Secured Debt
November 2021(e)
July 20311.679 %100 — 100 — — — 
November 2021(e)
July 20412.617 %137 — 137 — — — 
November 2021(e)
July 20281.295 %221 — — 221 — — 
November 2021(e)
July 20372.387 %352 — — 352 — — 
November 2021(e)
July 20412.799 %197 — — 197 — — 
First Mortgage Bonds
April 2021(f)
April 20312.550 %550 — 550 — — — 
April 2021(f)
April 20513.450 %450 — 450 — — — 
August 2021(g)
August 20312.000 %650 — — 650 — — 
August 2021(g)
August 20512.900 %450 — — 450 — — 
December 2021(h)
December 20312.400 %650 — — — 650 — 
December 2021(h)
December 20513.000 %500 — — — 500 — 
Total issuances$8,107 $3,500 $1,237 $1,870 $1,150 $350 
(a)Debt issued to repay at maturity $160 million senior unsecured notes due June 2021, pay down short-term debt and for general corporate purposes.
(b)Debt has a floating interest rate.
(c)Debt issued to repay $1.75 billion of Duke Energy (Parent) debt maturities, to repay a portion of short-term debt and for general corporate purposes.
(d)Debt issued to repay in October 2021 $500 million of Duke Energy (Parent) unsecured notes. The interest rate resets every five years.
(e)Debt issued to finance the North Carolina portion of storm restoration expenditures related to Hurricane Florence, Hurricane Michael, Hurricane Dorian and Winter Storm Diego.
(f)Debt issued to repay at maturity $500 million first mortgage bonds due June 2021, pay down short-term debt and for general company purposes.
(g)Debt issued to repay at maturity a total of $600 million first mortgage bonds due September 2021, pay down short-term debt and for general company purposes.
(h)Proceeds were used to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework.
AVAILABLE CREDIT FACILITIES
Master Credit Facility
In March 2022, Duke Energy amended its existing Master Credit Facility to increase the amount of the facility from $8 billion to $9 billion and to extend the termination date to March 2027. The Duke Energy Registrants, excluding Progress Energy, have borrowing capacity under the Master Credit Facility up to a specified sublimit for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder.
The table below includes the current borrowing sublimits and available capacity under these credit facilities.
 December 31, 2022
DukeDukeDukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergyEnergyEnergy
(in millions) Energy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Facility size(a)
$9,000 $2,375 $1,925 $800 $1,150 $900 $1,050 $800 
Reduction to backstop issuances
Commercial paper(b)
(3,685)463 (1,533)(389)(605)(522)(585)(514)
Outstanding letters of credit (40)(27)(4)(2)(7)— — — 
Tax-exempt bonds (81)— — — — — (81)— 
Available capacity $5,194 $2,811 $388 $409 $538 $378 $384 $286 
(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
On March 9, 2022, Duke Energy (Parent) entered into a Term Loan Credit Agreement (Credit Agreement) with commitments totaling $1.4 billion maturing on March 9, 2024. The maturity date of the Credit Agreement may be extended for up to two years by request of Duke Energy (Parent), upon satisfaction of certain conditions contained in the Credit Agreement. 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. In December 2022, Duke Energy (Parent) repaid $400 million of the term loan. The balance is classified as Long-Term Debt on Duke Energy's Consolidated Balance Sheets. The Three-Year Revolving Credit Facility was terminated in March 2022.
Duke Energy Florida Term Loan Facility
In October 2022, Duke Energy Florida entered into a term loan facility with commitments totaling $800 million expiring in April 2024. The term loan was fully drawn at the time of closing In October and borrowings were used for storm costs, under-collected fuel and general company purposes. The balance is classified as Long-Term Debt on Duke Energy Florida's Consolidated Balance Sheet.
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, 2022, and 2021, was $897 million and $1,066 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, 2022, Duke Energy presented approximately $131 million of long-term debt as current on the Consolidated Balance Sheet as a result of a technical default due to the bankruptcy filing of a Duke Energy customer. The Duke Energy Registrants were in compliance with all other covenants related to their debt agreements as of December 31, 2022. 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, 2022, and 2021, Duke Energy had loans outstanding of $852 million, including $33 million at Duke Energy Progress and $819 million, including $34 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.
v3.22.4
Guarantees and Indemnifications
 12 Months Ended
Dec. 31, 2022
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. 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, 2022, 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, 2022, the maximum potential amount of future payments associated with these guarantees were $40 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. See Notes 4 and 13 for more information.
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, 2022, was $33 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, 2022, Duke Energy had issued a total of $667 million in letters of credit, which expire between 2023 and 2028. The unused amount under these letters of credit was $35 million.
Duke Energy recognized $2 million and $3 million as of December 31, 2022, and 2021, respectively, primarily 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.
v3.22.4
Joint Ownership of Generating and Transmission Facilities
 12 Months Ended
Dec. 31, 2022
Joint Ownership Of Generating And Transmission Facilities [Abstract]  
Joint Ownership of Generating and Transmission Facilities JOINT OWNERSHIP OF GENERATING AND TRANSMISSION FACILITIESThe Duke Energy Registrants maintain ownership interests in certain jointly owned generating and transmission facilities. The Duke Energy Registrants are entitled to a share of the generating capacity and output of each unit equal to their respective ownership interests. The Duke Energy Registrants pay their ownership share of additional construction costs, fuel inventory purchases and operating expenses. The Duke Energy Registrants share of revenues and operating costs of the jointly owned facilities is included within the corresponding line in the Consolidated Statements of Operations. Each participant in the jointly owned facilities must provide its own financing.
The following table presents the Duke Energy Registrants' interest of jointly owned plant or facilities and amounts included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants and are included in the Electric Utilities and Infrastructure segment.
 December 31, 2022
Construction
OwnershipProperty, PlantAccumulatedWork in
(in millions except for ownership interest)Interestand EquipmentDepreciationProgress
Duke Energy Carolinas     
Catawba (units 1 and 2)(a)
19.25 %$1,047 $546 $32 
W.S. Lee CC(b)
87.27 %613 86 48 
Duke Energy Indiana     
Gibson (unit 5)(c)
50.05 %450 241 2 
Vermillion(d)
62.50 %182 113 1 
Transmission and local facilities(c)
Various6,718 1,510 157 
(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.
v3.22.4
Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations ASSET RETIREMENT OBLIGATIONS
Duke Energy records an ARO when it has a legal obligation to incur retirement costs associated with the retirement of a long-lived asset and the obligation can be reasonably estimated. Certain assets of the Duke Energy Registrants have an indeterminate life, such as transmission and distribution facilities, and thus the fair value of the retirement obligation is not reasonably estimable. A liability for these AROs will be recorded when a fair value is determinable.
The Duke Energy Registrants’ regulated operations accrue costs of removal for property that does not have an associated legal retirement obligation based on regulatory orders from state commissions. These costs of removal are recorded as a regulatory liability in accordance with regulatory accounting treatment. The Duke Energy Registrants do not accrue the estimated cost of removal for any nonregulated assets. See Note 4 for the estimated cost of removal for assets without an associated legal retirement obligation, which are included in Regulatory liabilities on the Consolidated Balance Sheets.
The following table presents the AROs recorded on the Consolidated Balance Sheets.
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Decommissioning of nuclear power facilities(a)
$7,261 $3,009 $4,217 $3,948 $270 $— $— $— 
Closure of ash impoundments5,176 2,309 1,862 1,833 29 95 911 — 
Other291 64 102 42 59 59 40 26 
Total asset retirement obligation$12,728 $5,382 $6,181 $5,823 $358 $154 $951 $26 
Less: Current portion773 261 289 288 1 17 207 — 
Total noncurrent asset retirement obligation$11,955 $5,121 $5,892 $5,535 $357 $137 $744 $26 
(a)    Duke Energy amount includes purchase accounting adjustments related to the merger with Progress Energy.
Nuclear Decommissioning Liability
AROs related to nuclear decommissioning are based on site-specific cost studies. The NCUC, PSCSC and FPSC require updated cost estimates for decommissioning nuclear plants every five years.
The following table summarizes information about the most recent site-specific nuclear decommissioning cost studies. Decommissioning costs are stated in 2018 or 2019 dollars, depending on the year of the cost study, and include costs to decommission plant components not subject to radioactive contamination.
Annual FundingDecommissioning
(in millions)
Requirement(a)
Costs(a)
Year of Cost Study
Duke Energy$10 $9,105 2018 or 2019
Duke Energy Carolinas(b)(c)
— 4,365 2018
Duke Energy Progress(d)
10 4,181 2019
Duke Energy Florida(e)
— 559 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 2018 was filed with the NCUC and PSCSC in 2019. A new funding study was also completed and filed with the NCUC and PSCSC in 2019.
(d)    Duke Energy Progress' site-specific nuclear decommissioning cost study completed in 2019 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.
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)20222021
Duke Energy$7,466 $8,933 
Duke Energy Carolinas4,208 5,068 
Duke Energy Progress3,258 3,865 
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 2022 and 2021.
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, 2020$12,854 $5,350 $6,149 $5,635 $514 $111 $1,176 $20 
Accretion expense(a)
504 242 229 212 17 4 35 1 
Liabilities settled(b)
(613)(210)(324)(214)(110)(3)(77)— 
Liabilities incurred in the current year14 8 6 — 6 — — — 
Revisions in estimates of cash flows(c)
(159)(89)52 42 10 24 (147)1 
Balance at December 31, 202112,600 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, 2022$12,728 $5,382 $6,181 $5,823 $358 $154 $951 $26 
(a)    Substantially all accretion expense for the years ended December 31, 2022, and 2021, 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 2021 primarily relate to revised basin closure cost estimates, partially offset by increases related to new closure plan approvals, post closure maintenance and beneficiation costs.
v3.22.4
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2022
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, 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 
Plant – Nonregulated  
Other buildings and improvements 10369 — — — — — — — 
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 
Other156,090 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 – nonregulated(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.
December 31, 2021
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,145 $543 $957 $482 $475 $219 $122 $279 
Plant – Regulated
Electric generation, distribution and transmission 40120,855 44,910 53,447 32,417 21,030 6,573 15,925 — 
Natural gas transmission and distribution 5412,079 — — — — 3,347 — 8,732 
Other buildings and improvements 371,921 550 514 228 286 381 321 155 
Plant – Nonregulated
Other buildings and improvements 11401 — — — — — — — 
Nuclear fuel 3,181 1,856 1,325 1,325 — — — — 
Equipment 132,659 614 791 497 294 403 262 122 
Construction in process 5,979 2,078 2,297 954 1,343 515 460 262 
Other145,276 1,323 1,563 1,115 437 287 253 368 
Total property, plant and equipment(a)
154,496 51,874 60,894 37,018 23,865 11,725 17,343 9,918 
Total accumulated depreciation – regulated(b)(c)
(47,611)(17,854)(19,214)(13,387)(5,819)(3,106)(5,583)(1,899)
Total accumulated depreciation – nonregulated(d)
(1,493)— — — — — — — 
Facilities to be retired, net144 102 26 26 — 6 — 11 
Total net property, plant and equipment $105,536 $34,122 $41,706 $23,657 $18,046 $8,625 $11,760 $8,030 
(a)    Includes finance leases of $958 million, $335 million, $729 million, $627 million, $102 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 $178 million, $45 million and $133 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,799 million, $1,064 million, $735 million and $735 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 $9 million, $33 million, and $3 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 continues 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 is 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)202220212020
Duke Energy$118 $66 $96 
Duke Energy Carolinas50 29 28 
Progress Energy26 20 17 
Duke Energy Progress19 14 12 
Duke Energy Florida7 6 5 
Duke Energy Ohio14 20 26 
Duke Energy Indiana(a)
3 (17)10 
Piedmont4 9 8 
(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.
v3.22.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2022
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, 2022, and 2021. 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, 2022, and 2021.
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 2022.
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, 2022, and 2021.
 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 accumulated amortization (8)— (1)— (1)— — (2)
Total intangible assets, net $265 $84 $132 $127 $5 $2 $2 $20 
 December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 204 73 131 131 — — — — 
Natural gas, coal and power contracts 24 — — — — — 24 — 
Other 28 — — — — — — — 
Total gross carrying amounts 264 73 136 133 3 — 26 — 
Accumulated amortization – natural gas, coal and power contracts (24)— — — — — (24)— 
Accumulated amortization – other (4)— — — — — — — 
Total accumulated amortization (28)— — — — — (24)— 
Total intangible assets, net $236 $73 $136 $133 $3 $— $2 $— 
Amortization Expense
Amortization expense amounts for other intangible assets are immaterial for the years ended December 31, 2022, 2021 and 2020, and are expected to be immaterial for the next five years as of December 31, 2022.
v3.22.4
Investments in Unconsolidated Affiliates
 12 Months Ended
Dec. 31, 2022
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,
 202220212020
Equity inEquity inEquity in
earningsearningsearnings
(in millions)Investments(losses)Investments(losses)(losses)
Electric Utilities and Infrastructure$99 $7 $104 $7 $(1)
Gas Utilities and Infrastructure240 21 231 8 (2,017)
Other116 85 122 47 13 
Total$455 $113 $457 $62 $(2,005)
During the years ended December 31, 2022, 2021 and 2020, Duke Energy received distributions from equity investments of $111 million, $56 million and $34 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, 2022, 2021 and 2020, Duke Energy received distributions from equity investments of $6 million, $14 million and $23 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, 2022, 2021 and 2020, Piedmont received distributions from equity investments of $31 million, $8 million and $2 million, respectively, which are included in Other assets within Cash Flows from Operating Activities. During the years ended December 31, 2021, and 2020, Piedmont received distributions from equity investments of $2 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.
Duke Energy owns a 47% interest in the ACP pipeline. In 2020, Duke Energy determined it would no longer continue its investment in the construction of the ACP pipeline. See Notes 4 and 8 for further information.
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.
Significant Subsidiaries
For the year ended December 31, 2020, Duke Energy's investment in ACP met the requirements of S-X Rule 4-08(g) to provide summarized financial information. The following table provides summary information for ACP as required under S-X Rule 1-02(bb) for the period of significance in Duke Energy's consolidated statements of operations. For the years ended December 31, 2022, and 2021, there were no investments that met the significance requirements.
Year Ended
December 31, 2020
Net revenues$— 
Operating loss(4,612)
Net loss(4,512)
Net loss attributable to Duke Energy$(2,121)
v3.22.4
Related Party Transactions
 12 Months Ended
Dec. 31, 2022
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) 202220212020
Duke Energy Carolinas   
Corporate governance and shared service expenses(a)
$838 $894 $753 
Indemnification coverages(b)
28 24 20 
Joint Dispatch Agreement (JDA) revenue(c)
109 41 25 
JDA expense(c)
600 207 114 
Intercompany natural gas purchases(d)
12 11 15 
Progress Energy 
Corporate governance and shared service expenses(a)
$818 $856 $715 
Indemnification coverages(b)
43 41 36 
JDA revenue(c)
600 207 114 
JDA expense(c)
109 41 25 
Intercompany natural gas purchases(d)
76 75 75 
Duke Energy Progress 
Corporate governance and shared service expenses(a)
$469 $504 $420 
Indemnification coverages(b)
20 19 17 
JDA revenue(c)
600 207 114 
JDA expense(c)
109 41 25 
Intercompany natural gas purchases(d)
76 75 75 
Duke Energy Florida 
Corporate governance and shared service expenses(a)
$349 $352 $295 
Indemnification coverages(b)
23 22 19 
Duke Energy Ohio 
Corporate governance and shared service expenses(a)
$334 $329 $326 
Indemnification coverages(b)
5 4 4 
Duke Energy Indiana 
Corporate governance and shared service expenses(a)
$447 $409 $401 
Indemnification coverages(b)
8 8 8 
Piedmont
Corporate governance and shared service expenses(a)
$155 $139 $140 
Indemnification coverages(b)
3 3 3 
Intercompany natural gas sales(d)
88 86 90 
Natural gas storage and transportation costs(e)
23 22 23 
(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, 2022
Intercompany income tax receivable$— $95 $36 $17 $— $— $— 
Intercompany income tax payable37 — — — 17 18 38 
December 31, 2021
Intercompany income tax receivable$— $— $— $40 $19 $— $— 
Intercompany income tax payable62 — 84 — — 10 27 
v3.22.4
Derivatives and Hedging
 12 Months Ended
Dec. 31, 2022
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. Derivatives related to interest rate risk for the Commercial Renewables Disposal Groups are included in the following disclosures. See Note 2 for further information.
All derivative instruments not identified as NPNS are recorded at fair value as assets or liabilities on the Consolidated Balance Sheets. Cash collateral related to derivative instruments executed under master netting arrangements is offset against the collateralized derivatives on the Consolidated Balance Sheets. The cash impacts of settled derivatives are recorded as operating activities on the Consolidated Statements of Cash Flows.
INTEREST RATE RISK
The Duke Energy Registrants are exposed to changes in interest rates as a result of their issuance or anticipated issuance of variable-rate and fixed-rate debt and commercial paper. Interest rate risk is managed by limiting variable-rate exposures to a percentage of total debt and by monitoring changes in interest rates. To manage risk associated with changes in interest rates, the Duke Energy Registrants may enter into interest rate swaps, U.S. Treasury lock agreements and other financial contracts. In anticipation of certain fixed-rate debt issuances, a series of forward-starting interest rate swaps or Treasury locks may be executed to lock in components of current market interest rates. These instruments are later terminated prior to or upon the issuance of the corresponding debt.
Cash Flow Hedges
For a derivative designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the effective portion of the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction impacts earnings. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. See Note 2 for information on the de-designation of interest rate swaps and related gain reclassified out of AOCI for the year ended December 31, 2022, related to the Commercial Renewables Disposal Groups. Gains and losses reclassified out of AOCI for the years ended December 31, 2021, and 2020, 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, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$500 $— $— $— $— $— $— 
Undesignated contracts2,979 1,250 800 500 300 300 27 
Total notional amount$3,479 $1,250 $800 $500 $300 $300 $27 
December 31, 2021
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressIndianaOhio
Cash flow hedges$2,415 $— $— $— $— $— 
Undesignated contracts1,177 350 500 500 300 27 
Total notional amount$3,592 $350 $500 $500 $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, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)14,086 — — — 1,820 12,266 — 
Natural gas (millions of Dth)909 307 292 292 — 11 299 
December 31, 2021
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)12,369 — — — 1,681 10,688 — 
Natural gas (millions of Dth)823 264 215 215 — 8 336 
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.
December 31, 2022
ReceiveFair Value
Pay NotionalNotionalReceive Hedge
Gain (Loss)(a)
(in millions)Pay Rate(in millions)RateMaturity Date(in millions)
Fair value hedges
$645 4.75 %600 euros3.10 %June 2028$(3)
537 5.31 %500 euros3.85 %June 2034(2)
Total notional amount$1,182 1,100 euros$(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, 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$228 $94 $41 $23 $17 $— $81 $— 
Noncurrent29 — — — — — — — 
Total Derivative Assets – Interest Rate Contracts$358 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets$836 $330 $248 $230 $17 $5 $110 $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
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 
Derivative AssetsDecember 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$199 $99 $72 $72 $— $2 $23 $3 
Noncurrent113 63 50 50 — — — — 
Total Derivative Assets – Commodity Contracts$312 $162 $122 $122 $— $2 $23 $3 
Interest Rate Contracts
Designated as Hedging Instruments
Current$3 $— $— $— $— $— $— $— 
Noncurrent3 — — — — — — — 
Not Designated as Hedging Instruments
Current$2 $— $2 $2 $— $— $— $— 
Total Derivative Assets – Interest Rate Contracts$8 $— $2 $2 $— $— $— $— 
Total Derivative Assets$320 $162 $124 $124 $— $2 $23 $3 
Derivative LiabilitiesDecember 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Not Designated as Hedging Instruments
Current$72 $18 $19 $5 $14 $— $13 $21 
Noncurrent132 9 5 5 — — — 118 
Total Derivative Liabilities – Commodity Contracts$204 $27 $24 $10 $14 $— $13 $139 
Interest Rate Contracts
Designated as Hedging Instruments
Current$75 $— $— $— $— $— $— $— 
Noncurrent21 — — — — — — — 
Not Designated as Hedging Instruments
Current10 8 — — — 1 — — 
Noncurrent18 — — — — 4 14 — 
Total Derivative Liabilities – Interest Rate Contracts$124 $8 $— $— $— $5 $14 $— 
Total Derivative Liabilities$328 $35 $24 $10 $14 $5 $27 $139 
OFFSETTING ASSETS AND LIABILITIES
The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$594 $226 $140 $122 $17 $5 $110 $— 
Gross amounts offset(64)(33)(30)(30)— — — — 
Net amounts presented in Current Assets: Other$530 $193 $110 $92 $17 $5 $110 $— 
Noncurrent
Gross amounts recognized$242 $104 $108 $108 $— $— $— $— 
Gross amounts offset(97)(40)(57)(57)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$145 $64 $51 $51 $— $— $— $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$193 $96 $36 $18 $19 $— $16 $27 
Gross amounts offset(49)(15)(18)(18)— — (16)— 
Net amounts presented in Current Liabilities: Other$144 $81 $18 $— $19 $— $— $27 
Noncurrent
Gross amounts recognized$244 $31 $30 $30 $— $2 $— $141 
Gross amounts offset(59)(29)(30)(30)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$185 $2 $— $— $— $2 $— $141 
Derivative AssetsDecember 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$204 $99 $74 $74 $— $2 $23 $3 
Gross amounts offset(25)(16)(9)(9)— — — — 
Net amounts presented in Current Assets: Other$179 $83 $65 $65 $— $2 $23 $3 
Noncurrent
Gross amounts recognized$116 $63 $50 $50 $— $— $— $— 
Gross amounts offset(23)(15)(8)(8)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$93 $48 $42 $42 $— $— $— $— 
Derivative LiabilitiesDecember 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$157 $26 $19 $5 $14 $1 $13 $21 
Gross amounts offset(11)(6)(5)(5)— — — — 
Net amounts presented in Current Liabilities: Other$146 $20 $14 $— $14 $1 $13 $21 
Noncurrent
Gross amounts recognized$171 $9 $5 $5 $— $4 $14 $118 
Gross amounts offset(12)(8)(5)(5)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$159 $1 $— $— $— $4 $14 $118 
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, 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 
December 31, 2021
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFlorida
Aggregate fair value of derivatives in a net liability position$32 $18 $14 $10 $4 
Fair value of collateral already posted— — — — — 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered32 18 14 10 4 
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.
v3.22.4
Investments in Debt and Equity Securities
 12 Months Ended
Dec. 31, 2022
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, 2022, and 2021.
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, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $215 $— $— $160 
Equity securities 3,658 105 5,871 4,905 43 7,350 
Corporate debt securities 1 85 641 39 6 829 
Municipal bonds — 39 330 14 1 314 
U.S. government bonds 2 112 1,423 31 12 1,568 
Other debt securities — 18 156 3 1 180 
Total NDTF Investments$3,661 $359 $8,636 $4,992 $63 $10,401 
Other Investments       
Cash and cash equivalents $— $— $22 $— $— $36 
Equity securities 21 16 128 36 — 156 
Corporate debt securities — 12 84 2 1 119 
Municipal bonds — 3 78 3 1 80 
U.S. government bonds — 2 62 — — 56 
Other debt securities — 3 41 — 1 45 
Total Other Investments$21 $36 $415 $41 $3 $492 
Total Investments $3,682 $395 $9,051 $5,033 $66 $10,893 
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, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$201 $724 $366 
Realized losses316 141 174 
AFS:
Realized gains28 56 96 
Realized losses151 54 51 
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, 2022 December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $117 $— $— $53 
Equity securities 2,147 51 3,367 2,887 19 4,265 
Corporate debt securities 1 62 401 24 4 506 
Municipal bonds — 10 64 2 — 48 
U.S. government bonds 1 51 685 16 3 712 
Other debt securities — 18 148 3 1 175 
Total NDTF Investments$2,149 $192 $4,782 $2,932 $27 $5,759 
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, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$124 $440 $64 
Realized losses177 96 99 
AFS:
Realized gains22 38 60 
Realized losses86 37 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, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $98 $— $— $107 
Equity securities 1,511 54 2,504 2,018 24 3,085 
Corporate debt securities — 23 240 15 2 323 
Municipal bonds — 29 266 12 1 266 
U.S. government bonds 1 61 738 15 9 856 
Other debt securities — — 8 — — 5 
Total NDTF Investments$1,512 $167 $3,854 $2,060 $36 $4,642 
Other Investments       
Cash and cash equivalents $— $— $11 $— $— $20 
Municipal bonds — — 25 2 — 26 
Total Other Investments$— $— $36 $2 $— $46 
Total Investments $1,512 $167 $3,890 $2,062 $36 $4,688 
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, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$77 $284 $302 
Realized losses139 45 75 
AFS:
Realized gains6 16 24 
Realized losses48 14 13 
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, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $56 $— $— $94 
Equity securities 1,431 54 2,411 1,915 23 2,970 
Corporate debt securities — 22 230 15 2 282 
Municipal bonds — 29 266 12 1 266 
U.S. government bonds 1 37 460 15 3 472 
Other debt securities — — 7 — — 5 
Total NDTF Investments$1,432 $142 $3,430 $1,957 $29 $4,089 
Other Investments       
Cash and cash equivalents $— $— $9 $— $— $16 
Total Other Investments$— $— $9 $— $— $16 
Total Investments $1,432 $142 $3,439 $1,957 $29 $4,105 
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, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$76 $283 $52 
Realized losses136 44 59 
AFS:
Realized gains6 15 24 
Realized losses44 13 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, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF        
Cash and cash equivalents $— $— $42 $— $— $13 
Equity securities 80 — 93 103 1 115 
Corporate debt securities — 1 10 — — 41 
U.S. government bonds — 24 278 — 6 384 
Other debt securities — — 1 — — — 
Total NDTF Investments(a)
$80 $25 $424 $103 $7 $553 
Other Investments    
Cash and cash equivalents $— $— $1 $— $— $3 
Municipal bonds — — 25 2 — 26 
Total Other Investments$— $— $26 $2 $— $29 
Total Investments $80 $25 $450 $105 $7 $582 
(a)    During the years ended December 31, 2022, and 2021, Duke Energy Florida continued to receive reimbursements from the NDTF for costs related to ongoing decommissioning activity of the 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, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$1 $1 $250 
Realized losses3 1 16 
AFS:
Realized gains— 1 — 
Realized losses4 1 — 
DUKE ENERGY INDIANA
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
 December 31, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
Investments       
Cash and cash equivalents$— $— $1 $— $— $— 
Equity securities 2 16 79 6 — 97 
Corporate debt securities — 1 8 — — 6 
Municipal bonds — 3 45 1 1 46 
U.S. government bonds — — 7 — — 12 
Total Investments $2 $20 $140 $7 $1 $161 
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, 2022, 2021 and 2020, were immaterial.
DEBT SECURITY MATURITIES
The table below summarizes the maturity date for debt securities.
December 31, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
Due in one year or less$137 $7 $89 $24 $65 $8 
Due after one through five years807 287 443 244 199 22 
Due after five through 10 years469 230 193 178 15 6 
Due after 10 years1,402 774 552 517 35 24 
Total$2,815 $1,298 $1,277 $963 $314 $60 
v3.22.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2022
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 natural gas commodity contracts by a market participant price verification procedure. This procedure provides a comparison of internal forward commodity curves to market participant generated curves.
Interest rate derivatives
Most over-the-counter interest rate contract derivatives are valued using financial models that utilize observable inputs for similar instruments and are classified as Level 2. Inputs include forward interest rate curves, notional amounts, interest rates and credit quality of the counterparties. Derivatives related to interest rate risk for the Commercial Renewables Disposal Groups are included in the following disclosures. See Note 2 for further information.
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, 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 assets836 1 801 34 — 
Total assets9,887 7,030 2,781 34 42 
Derivative liabilities(437)(16)(421)— — 
Net assets (liabilities)$9,450 $7,014 $2,360 $34 $42 
 December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$160 $160 $— $— $— 
NDTF equity securities7,350 7,300 — — 50 
NDTF debt securities2,891 967 1,924 — — 
Other equity securities156 156 — — — 
Other debt securities300 45 255 — — 
Other cash and cash equivalents36 36 — — — 
Derivative assets320 3 293 24 — 
Total assets11,213 8,667 2,472 24 50 
Derivative liabilities(327)(13)(314)— — 
Net assets (liabilities)$10,886 $8,654 $2,158 $24 $50 
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) 20222021
Balance at beginning of period$24 $8 
Purchases, sales, issuances and settlements:
Purchases78 21 
Settlements(36)(20)
Total gains (losses) included on the Consolidated Balance Sheet(32)15 
Balance at end of period$34 $24 
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, 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 
 December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$53 $53 $— $— 
NDTF equity securities4,265 4,215 — 50 
NDTF debt securities1,441 339 1,102 — 
Derivative assets162 — 162 — 
Total assets5,921 4,607 1,264 50 
Derivative liabilities(35)— (35)— 
Net assets$5,886 $4,607 $1,229 $50 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$98 $98 $— $107 $107 $— 
NDTF equity securities2,504 2,504 — 3,085 3,085 — 
NDTF debt securities1,252 457 795 1,450 628 822 
Other debt securities25 — 25 26 — 26 
Other cash and cash equivalents11 11 — 20 20 — 
Derivative assets248 — 248 124 — 124 
Total assets4,138 3,070 1,068 4,812 3,840 972 
Derivative liabilities(66)— (66)(24)— (24)
Net assets$4,072 $3,070 $1,002 $4,788 $3,840 $948 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$56 $56 $— $94 $94 $— 
NDTF equity securities2,411 2,411 — 2,970 2,970 — 
NDTF debt securities963 225 738 1,025 289 736 
Other cash and cash equivalents9 9 — 16 16 — 
Derivative assets230 — 230 124 — 124 
Total assets3,669 2,701 968 4,229 3,369 860 
Derivative liabilities(48)— (48)(10)— (10)
Net assets$3,621 $2,701 $920 $4,219 $3,369 $850 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$42 $42 $— $13 $13 $— 
NDTF equity securities93 93 — 115 115 — 
NDTF debt securities289 232 57 425 339 86 
Other debt securities25 — 25 26 — 26 
Other cash and cash equivalents1 1 — 3 3 — 
Derivative assets17 — 17 — — — 
Total assets467 368 99 582 470 112 
Derivative liabilities(19)— (19)(14)— (14)
Net assets$448 $368 $80 $568 $470 $98 
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, 2022, and 2021.
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$79 $79 $— $— $97 $97 $— $— 
Other debt securities60 — 60 — 64 — 64 — 
Other cash equivalents1 1 — — — — — — 
Derivative assets110 — 81 29 23 1 — 22 
Total assets250 80 141 29 184 98 64 22 
Derivative liabilities(16)(16)— — (27)(13)(14)— 
Net assets$234 $64 $141 $29 $157 $85 $50 $22 
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
 Derivatives (net)
 Years Ended December 31,
(in millions)20222021
Balance at beginning of period$22 $6 
Purchases, sales, issuances and settlements:
Purchases74 18 
Settlements(32)(16)
Total (losses) gains included on the Consolidated Balance Sheet(35)14 
Balance at end of period$29 $22 
PIEDMONT
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$— $— $— $3 $3 $— 
Derivative liabilities(168)— (168)(139)— (139)
Net (liabilities) assets$(168)$— $(168)$(136)$3 $(139)
QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
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 
December 31, 2021
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$2 RTO auction pricingFTR price – per MWh$0.06 –$1.79 $0.96 
Duke Energy Indiana
FTRs22 RTO auction pricingFTR price – per MWh(1.18)–13.11 2.68 
Duke Energy
Total Level 3 derivatives$24 
OTHER FAIR VALUE DISCLOSURES
The fair value and book value of long-term debt, including current maturities, is summarized in the following table. The following disclosures include debt attributable to the Commercial Renewables Disposal Groups. See Note 2 for further details. 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, 2022December 31, 2021
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$71,215 $63,454 $63,835 $69,683 
Duke Energy Carolinas14,266 12,943 13,275 15,101 
Progress Energy22,439 20,467 20,823 23,751 
Duke Energy Progress11,087 9,689 10,249 11,252 
Duke Energy Florida9,709 8,991 8,482 9,772 
Duke Energy Ohio3,245 2,927 3,193 3,570 
Duke Energy Indiana4,307 3,913 4,323 5,067 
Piedmont3,363 2,940 2,968 3,278 
(a)    Book value of long-term debt includes $1.17 billion as of December 31, 2022, and $1.25 billion as of December 31, 2021, 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, 2022, and December 31, 2021, 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.
v3.22.4
Variable Interest Entities
 12 Months Ended
Dec. 31, 2022
Variable Interest Entities [Abstract]  
Variable Interest Entities VARIABLE INTEREST ENTITIES
A VIE is an entity that is evaluated for consolidation using more than a simple analysis of voting control. The analysis to determine whether an entity is a VIE considers contracts with an entity, credit support for an entity, the adequacy of the equity investment of an entity and the relationship of voting power to the amount of equity invested in an entity. This analysis is performed either upon the creation of a legal entity or upon the occurrence of an event requiring reevaluation, such as a significant change in an entity’s assets or activities. A qualitative analysis of control determines the party that consolidates a VIE. This assessment is based on (i) what party has the power to direct the activities of the VIE that most significantly impact its economic performance and (ii) what party has rights to receive benefits or is obligated to absorb losses that could potentially be significant to the VIE. The analysis of the party that consolidates a VIE is a continual reassessment.
CONSOLIDATED VIEs
The obligations of the consolidated VIEs discussed in the following paragraphs are nonrecourse to the Duke Energy Registrants. The registrants have no requirement to provide liquidity to, purchase assets of or guarantee performance of these VIEs unless noted in the following paragraphs.
No financial support was provided to any of the consolidated VIEs during the years ended December 31, 2022, 2021 and 2020, or is expected to be provided in the future, that was not previously contractually required.
Receivables Financing – DERF/DEPR/DEFR
DERF, DEPR and DEFR are bankruptcy remote, special purpose subsidiaries of Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, respectively. DERF, DEPR and DEFR are wholly owned LLCs with separate legal existence from their parent companies, and their assets are not generally available to creditors of their parent companies. On a revolving basis, DERF, DEPR and DEFR buy certain accounts receivable arising from the sale of electricity and related services from their parent companies.
DERF, DEPR and DEFR borrow amounts under credit facilities to buy these receivables. Borrowing availability from the credit facilities is limited to the amount of qualified receivables purchased, which generally exclude receivables past due more than a predetermined number of days and reserves for expected past-due balances. The sole source of funds to satisfy the related debt obligations is cash collections from the receivables. Amounts borrowed under the credit facilities are reflected on the Consolidated Balance Sheets as Long-Term Debt.
The most significant activity that impacts the economic performance of DERF, DEPR and DEFR are the decisions made to manage delinquent receivables. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are considered the primary beneficiaries and consolidate DERF, DEPR and DEFR, respectively, as they make those decisions.
Receivables Financing – CRC
CRC is a bankruptcy remote, special purpose entity indirectly owned by Duke Energy. On a revolving basis, CRC buys certain accounts receivable arising from the sale of electricity, natural gas and related services from Duke Energy Ohio and Duke Energy Indiana. CRC borrows amounts under a credit facility to buy the receivables from Duke Energy Ohio and Duke Energy Indiana. Borrowing availability from the credit facility is limited to the amount of qualified receivables sold to CRC, 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 2023
Credit facility amount$350 $500 $400 $250 
Amounts borrowed at December 31, 2022350 471 400 250 
Amounts borrowed at December 31, 2021350 475 350 250 
Restricted Receivables at December 31, 2022917 928 793 490 
Restricted Receivables at December 31, 2021587 844 574 427 
Nuclear Asset-Recovery Bonds – Duke Energy Florida Project Finance, LLC (DEFPF)
DEFPF is a bankruptcy remote, wholly owned special purpose subsidiary of Duke Energy Florida. DEFPF was formed in 2016 for the sole purpose of issuing nuclear asset-recovery bonds to finance Duke Energy Florida's unrecovered regulatory asset related to Crystal River Unit 3.
In 2016, DEFPF issued senior secured bonds and used the proceeds to acquire nuclear asset-recovery property from Duke Energy Florida. The nuclear asset-recovery property acquired includes the right to impose, bill, collect and adjust a non-bypassable nuclear asset-recovery charge from all Duke Energy Florida retail customers until the bonds are paid in full and all financing costs have been recovered. The nuclear asset-recovery bonds are secured by the nuclear asset-recovery property and cash collections from the nuclear asset-recovery charges are the sole source of funds to satisfy the debt obligation. The bondholders have no recourse to Duke Energy Florida.
DEFPF is considered a VIE primarily because the equity capitalization is insufficient to support its operations. Duke Energy Florida has the power to direct the significant activities of the VIE as described above and therefore Duke Energy Florida is considered the primary beneficiary and consolidates DEFPF.
The following table summarizes the impact of DEFPF on Duke Energy Florida's Consolidated Balance Sheets.
December 31,
(in millions)20222021
Receivables of VIEs$6 $5 
Regulatory Assets: Current55 54 
Current Assets: Other41 39 
Other Noncurrent Assets: Regulatory assets826 883 
Current Liabilities: Other9 9 
Current maturities of long-term debt56 56 
Long-Term Debt890 946 
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. For additional information, see Notes 4 and 7.
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)2022202120222021
Regulatory Assets: Current$12 $12 $39 $39 
Current Assets: Other8 — 29 — 
Other Noncurrent Assets: Regulatory assets208 220 681 720 
Other Noncurrent Assets: Other1 1 2 4 
Current maturities of long-term debt10 5 34 15 
Current Liabilities: Other3 1 8 2 
Long-Term Debt219 228 714 747 
NON-CONSOLIDATED VIEs
The following tables summarize the impact of non-consolidated VIEs on the Consolidated Balance Sheets.
 December 31, 2022
 Duke Energy DukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $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 $317 
 December 31, 2021
 Duke EnergyDukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $79 $97 
Investments in equity method unconsolidated affiliates15 — — 
Other noncurrent assets61 — — 
Total assets$76 $79 $97 
Other current liabilities47 — — 
Other noncurrent liabilities54 — — 
Total liabilities$101 $— $— 
Net (liabilities) assets$(25)$79 $97 
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.
Duke Energy has a 47% ownership interest in ACP. In 2020, Duke Energy determined that it would no longer invest in the construction of the ACP pipeline. In February 2021, Duke Energy paid approximately $855 million to fund ACP's outstanding debt, relieving Duke Energy of its guarantee. See Notes 4, 8 and 13 for further information regarding this transaction.
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
 2022202120222021
Anticipated credit loss ratio0.5 %0.5 %0.3 %0.3 %
Discount rate2.7 %1.1 %2.7 %1.1 %
Receivable turnover rate13.5 %13.5 %11.3 %11.3 %
The following table shows the gross and net receivables sold.
 Duke Energy OhioDuke Energy Indiana
December 31,December 31,
(in millions)2022202120222021
Receivables sold$423 $269 $508 $328 
Less: Retained interests198 79 317 97 
Net receivables sold$225 $190 $191 $231 
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)202220212020202220212020
Sales      
Receivables sold$2,562 $2,023 $1,905 $3,744 $2,909 $2,631 
Loss recognized on sale18 10 10 26 13 12 
Cash flows  
Cash proceeds from receivables sold2,424 2,018 1,875 3,498 2,909 2,586 
Collection fees received1 1 1 2 1 1 
Return received on retained interests10 4 4 15 6 5 
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%.
v3.22.4
Revenue
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue REVENUEDuke Energy recognizes revenue consistent with amounts billed under tariff offerings or at contractually agreed upon rates based on actual physical delivery of electric or natural gas service, including estimated volumes delivered when billings have not yet occurred. As such, the majority of Duke Energy’s revenues have fixed pricing based on the contractual terms of the published tariffs, with variability in expected cash flows attributable to the customer’s volumetric demand and ultimate quantities of energy or natural gas supplied and used during the billing period. The stand-alone selling price of related sales are designed to support recovery of prudently incurred costs and an appropriate return on invested assets and are primarily governed by published tariff rates or contractual agreements approved by relevant regulatory bodies. As described in Note 1, certain excise taxes and franchise fees levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis as part of revenues. Duke Energy elects to account for all other taxes net of revenues.
Performance obligations are satisfied over time as energy or natural gas is delivered and consumed with billings generally occurring monthly and related payments due within 30 days, depending on regulatory requirements. In no event does the timing between payment and delivery of the goods and services exceed one year. Using this output method for revenue recognition provides a faithful depiction of the transfer of electric and natural gas service as customers obtain control of the commodity and benefit from its use at delivery. Additionally, Duke Energy has an enforceable right to consideration for energy or natural gas delivered at any discrete point in time and will recognize revenue at an amount that reflects the consideration to which Duke Energy is entitled for the energy or natural gas delivered.
As described above, the majority of Duke Energy’s tariff revenues are at-will and, as such, related contracts with customers have an expected duration of one year or less and will not have future performance obligations for disclosure. Additionally, other long-term revenue streams, including wholesale contracts, generally provide services that are part of a single performance obligation, the delivery of electricity or natural gas. As such, other than material fixed consideration under long-term contracts, related disclosures for future performance obligations are also not applicable.
Duke Energy earns substantially all of its revenues through its reportable segments, 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)20232024202520262027ThereafterTotal
Progress Energy$61 $66 $7 $7 $7 $36 $184 
Duke Energy Progress8 8 — — — — 16 
Duke Energy Florida53 58 7 7 7 36 168 
Duke Energy Indiana11 16 17 15 7 5 71 
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 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)20232024202520262027ThereafterTotal
Piedmont$68 $62 $61 $51 $49 $241 $532 
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, 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.
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$9,806 $2,997 $5,017 $2,059 $2,958 $726 $1,064 $— 
General6,194 2,233 2,779 1,312 1,467 442 740 — 
Industrial2,859 1,137 901 649 252 137 683 — 
Wholesale1,864 380 1,228 1,034 194 32 224 — 
Other revenues914 281 596 294 302 82 72 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$21,637 $7,028 $10,521 $5,348 $5,173 $1,419 $2,783 $— 
Gas Utilities and Infrastructure
Residential$930 $— $— $— $— $300 $— $630 
Commercial446 — — — — 117 — 329 
Industrial127 — — — — 17 — 110 
Power Generation— — — — — — — 34 
Other revenues87 — — — — 17 — 70 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,590 $— $— $— $— $451 $— $1,173 
Other
Revenue from contracts with customers$26 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$23,253 $7,028 $10,521 $5,348 $5,173 $1,870 $2,783 $1,173 
Other revenue sources(a)
$113 $(13)$106 $74 $15 $(12)$12 $124 
Total revenues$23,366 $7,015 $10,627 $5,422 $5,188 $1,858 $2,795 $1,297 
(a)    Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
As described in Note 1, Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. The following table presents the reserve for credit losses for trade and other receivables based on adoption of the new standard.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2019$76 $10 $16 $8 $7 $4 $3 $6 
Cumulative Change in Accounting Principle5 1 2 1 1 — — 1 
Write-Offs(58)(13)(23)(8)(14)— — (6)
Credit Loss Expense75 13 29 9 20 — — 11 
Other Adjustments48 12 13 13 — — — — 
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 
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, 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 
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Receivables(a)(b)
$922 $316 $266 $193 $73 $4 $27 $106 
Current1,941 592 716 405 311 42 50 202 
1-30 days past due288 77 128 44 82 4 5 12 
31-60 days past due98 30 49 21 28 1 10 2 
61-90 days past due118 32 48 28 20 23 5 4 
91+ days past due161 84 37 9 28 24 6 3 
Deferred Payment Arrangements(c)
115 55 45 22 23 2 — 4 
Trade and Other Receivables$3,643 $1,186 $1,289 $722 $565 $100 $103 $333 
(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 $148 million and $260 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2022, and $82 million and $121 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2021.
(c)    Due to ongoing financial hardships impacting customers, Duke Energy has permitted customers to defer payment of past-due amounts through installment payment plans.
v3.22.4
Stockholders' Equity
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS' EQUITYBasic 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, were exercised or settled. Duke Energy’s participating securities are RSUs that are entitled to dividends declared on Duke Energy common stock during the RSUs vesting periods. Dividends declared on preferred stock are recorded on the Consolidated Statements of Operations as a reduction of net income to arrive at net income available to Duke Energy common stockholders. Dividends accumulated on preferred stock are 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)202220212020
Net Income available to Duke Energy common stockholders$2,444 $3,802 $1,270 
Less: (Loss) Income from discontinued operations attributable to Duke Energy common stockholders(1,215)200 289 
Accumulated preferred stock dividends adjustment— — 1 
Less: Impact of participating securities2 3 2 
Income from continuing operations available to Duke Energy common stockholders$3,657 $3,599 $980 
Loss from discontinued operations, net of tax$(1,323)$(144)$(7)
Add: Loss attributable to NCI108 344 296 
(Loss) Income from discontinued operations attributable to Duke Energy common stockholders$(1,215)$200 $289 
Weighted average common shares outstanding – basic770 769 737 
Equity forwards— — 1 
Weighted average common shares outstanding – diluted770 769 738 
EPS from continuing operations available to Duke Energy common stockholders
Basic and Diluted$4.74 $4.68 $1.33 
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders
   Basic and Diluted$(1.57)$0.26 $0.39 
Potentially dilutive items excluded from the calculation(a)
2 2 2 
Dividends declared per common share$3.98 $3.90 $3.82 
Dividends declared on Series A preferred stock per depositary share(b)
$1.437 $1.437 $1.437 
Dividends declared on Series B preferred stock per share(c)
$48.750 $48.750 $49.292 
(a)    Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met.
(b)    5.75% Series A Cumulative Redeemable Perpetual Preferred Stock dividends are payable quarterly in arrears on the 16th day of March, June, September and December. The preferred stock has a $25 liquidation preference per depositary share.
(c)    4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock dividends are payable semiannually in arrears on the 16th day of March and September. The preferred stock has a $1,000 liquidation preference per share. 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 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.
v3.22.4
Severance
 12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
Severance SEVERANCE
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.
During 2020, as a result of partial settlements between Duke Energy Carolinas, Duke Energy Progress and the Public Staff, Duke Energy Carolinas and Duke Energy Progress deferred as Regulatory assets on the Consolidated Balance Sheets, approximately $65 million and $33 million, respectively, of previously recorded severance charges within Operation, maintenance and other on the Consolidated Statements of Operations. These severance charges were previously recorded during 2018, as Duke Energy reviewed its operations and identified opportunities for improvement to better serve its customers. This operational review included the company's workforce strategy and staffing levels to ensure the company was staffed with the right skill sets and number of teammates to execute the long-term vision for Duke Energy. As such, Duke Energy extended voluntary and involuntary severance benefits to certain employees in specific areas as a part of workforce planning and digital transformation efforts.
The following table presents the direct and allocated severance and related charges accrued for approximately 233 employees in 2022, 290 employees in 2021 and 30 employees in 2020, 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, 2022(a)(b)
$65 $40 $20 $17 $3 $1 $2 $2 
Year Ended December 31, 2021(c)(d)
69 33 26 20 6 2 3 2 
Year Ended December 31, 2020(e)(f)
(85)(58)(28)(31)3 — — — 
(a)    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.
(b)    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.
(c)    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.
(d)    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.
(e)    Includes unamortized deferred severance charges of approximately $(86) million, $(57) million, $(29) million and $(29) million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(f)    Includes adjustments associated with 2018 severance charges of approximately $(6) million, $(2) million, $(3) million and $(2) million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, 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, 2020$11 $2 $3 $1 $2 $— $1 $— 
Provision/Adjustments36 1 1 1 — — — — 
Cash Reductions(8)(1)(2)(1)(1)— (1)— 
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 
v3.22.4
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation STOCK-BASED COMPENSATION
The Duke Energy Corporation 2015 Long-Term Incentive Plan (the 2015 Plan) provides for the grant of stock-based compensation awards to employees and outside directors. The 2015 Plan reserved 10 million shares of common stock for issuance. Duke Energy has historically issued new shares upon exercising or vesting of share-based awards. However, Duke Energy may use a combination of new share issuances and open market repurchases for share-based awards that are exercised or vest in the future. Duke Energy has not determined with certainty the amount of such new share issuances or open market repurchases.
The following table summarizes the total expense recognized by the Duke Energy Registrants, net of tax, for stock-based compensation.
 Years Ended December 31,
(in millions)202220212020
Duke Energy$74 $64 $61 
Duke Energy Carolinas27 23 22 
Progress Energy27 24 23 
Duke Energy Progress17 15 15 
Duke Energy Florida10 9 9 
Duke Energy Ohio5 5 4 
Duke Energy Indiana7 6 6 
Piedmont4 3 3 
Duke Energy's pretax stock-based compensation costs, the tax benefit associated with stock-based compensation expense and stock-based compensation costs capitalized are included in the following table.
 Years Ended December 31,
(in millions)202220212020
RSU awards$58 $49 $46 
Performance awards42 39 38 
Pretax stock-based compensation cost$100 $88 $84 
Stock-based compensation costs capitalized5 5 5 
Stock-based compensation expense$95 $83 $79 
Tax benefit associated with stock-based compensation expense$21 $19 $18 
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,
 202220212020
Shares granted (in thousands) 654 673 498 
Fair value (in millions)$64 $59 $50 
The following table summarizes information about RSU awards outstanding.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 20211,043 $92 
Granted654 98 
Vested(527)93 
Forfeited(73)94 
Outstanding at December 31, 20221,097 95 
RSU awards expected to vest1,056 95 
The total grant date fair value of shares vested during the years ended December 31, 2022, 2021 and 2020, was $49 million, $45 million and $43 million, respectively. At December 31, 2022, Duke Energy had $34 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 2022, the model used a risk-free interest rate of 1.78%, which reflects the yield on three-year Treasury bonds as of the grant date, and an expected volatility of 26.8% based on Duke Energy's historical volatility over three years using daily stock prices.
The following table includes information related to stock-based performance awards.
 Years Ended December 31,
 202220212020
Shares granted assuming target performance (in thousands)408 380 319 
Fair value (in millions)$40 $33 $34 
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, 2021952 $93 
Granted408 99 
Vested(297)86 
Forfeited(30)96 
Outstanding at December 31, 20221,033 97 
Stock-based performance awards expected to vest1,006 97 
The total grant date fair value of shares vested during the years ended December 31, 2022, and 2021, was $25 million and $25 million, respectively. At December 31, 2022, Duke Energy had $22 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of 22 months.
v3.22.4
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2022
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), which is an active plan, and the Duke Energy Legacy Pension Plan (DELPP), which is an inactive plan. 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 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. Actuarial losses experienced by the defined benefit retirement plans in remeasuring plan assets as of December 31, 2021, 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, 2021, 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 Condensed Consolidated Balance Sheets and $22 million was recorded to Other Income and Expenses, net, within the Condensed 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 Condensed 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 Condensed 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 Condensed Consolidated Statement of Operations 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 years ended December 31, 2021 and 2020.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Contributions Made:
2022$58 $15 $13 $8 $5 $3 $5 $2 
QUALIFIED PENSION PLANS
Components of Net Periodic Pension Costs
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 charges9 5 2 2 1 — — 1 
Net periodic pension costs(a)(b)
$(49)$(8)$(29)$(6)$(22)$(4)$(1)$(5)
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$165 $51 $48 $27 $21 $5 $9 $6 
Interest cost on projected benefit obligation269 62 85 38 46 15 22 9 
Expected return on plan assets(572)(145)(190)(87)(101)(28)(42)(21)
Amortization of actuarial loss128 28 41 18 23 6 12 9 
Amortization of prior service credit(32)(8)(3)(2)(1)— (2)(9)
Amortization of settlement charges(c)
18 9 7 6 1 — 1 1 
Net periodic pension costs(a)(b)
$(24)$(3)$(12)$— $(11)$(2)$— $(5)
(a)    Duke Energy amounts exclude $3 million, $3 million and $4 million for the years ended December 2022, 2021 and 2020, 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 $2 million for the years ended December 2022, 2021 and 2020, 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, 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 service credit— — — — — — — — 
Amortization of prior year actuarial losses37 — 2 — — — — — 
Net amount recognized in accumulated other comprehensive income$30 $— $1 $— $— $— $— $— 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net decrease$(261)$(57)$(128)$(31)$(97)$(17)$(19)$(5)
Accumulated other comprehensive loss (income)
Deferred income tax expense$1 $— $— $— $— $— $— $— 
Amortization of prior year service credit1 — — — — — — — 
Amortization of prior year actuarial losses(8)— (1)— — — — — 
Net amount recognized in accumulated other comprehensive income$(6)$— $(1)$— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
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 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $8,634 $1,988 $2,715 $1,193 $1,507 $502 $715 $293 
Service cost168 54 48 28 20 5 9 6 
Interest cost220 51 70 30 39 13 18 7 
Actuarial gain(200)(42)(108)(18)(89)(10)(10)(5)
Benefits paid(615)(148)(161)(80)(81)(50)(52)(28)
Transfers— — (4)— (4)(10)— — 
Obligation at measurement date$8,207 $1,903 $2,560 $1,153 $1,392 $450 $680 $273 
Accumulated Benefit Obligation at measurement date$8,144 $1,904 $2,529 $1,154 $1,361 $439 $672 $274 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$9,337 $2,381 $3,049 $1,422 $1,605 $472 $684 $343 
Actual return on plan assets513 132 169 79 90 26 37 19 
Benefits paid(615)(148)(161)(80)(81)(50)(52)(28)
Transfers— — (4)— (4)(10)— — 
Plan assets at measurement date$9,235 $2,365 $3,053 $1,421 $1,610 $438 $669 $334 
Funded status of plan$1,028 $462 $493 $268 $218 $(12)$(11)$61 
Amounts Recognized in the Consolidated Balance Sheets
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 $— $— $— $— $— 
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$1,071 $462 $494 $268 $219 $74 $100 $61 
Noncurrent pension liability(b)
$43 $— $1 $— $1 $86 $111 $— 
Net asset (liability) recognized$1,028 $462 $493 $268 $218 $(12)$(11)$61 
Regulatory assets$1,649 $324 $563 $252 $311 $93 $190 $75 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$(20)$— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial loss92 — 1 — — — — — 
Net amounts recognized in accumulated other comprehensive loss$71 $— $1 $— $— $— $— $— 
(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, 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 
December 31, 2021
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$153 $284 
Accumulated benefit obligation143 275 
Fair value of plan assets67 173 
Assumptions Used for Pension Benefits Accounting
The discount rate used to determine the current year pension obligation and following year’s pension expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high-quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates the present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected.
The average remaining service period for participants in active plans and life expectancy of participants in inactive plans is 13 years for Duke Energy and Duke Energy Progress, 15 years for Duke Energy Florida and Duke Energy Ohio, 14 years for Progress Energy and Duke Energy Indiana, 12 years for Duke Energy Carolinas and nine years for Piedmont.
The following tables present the assumptions or range of assumptions used for pension benefit accounting.
December 31,
202220212020
Benefit Obligations
Discount rate5.60%2.90%2.60%
Interest crediting rate4.35%4.00%4.00%
Salary increase 3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Net Periodic Benefit Cost
Discount rate2.90 %–5.70%2.60%3.30%
Interest crediting rate4.00%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%6.50%6.85%
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2023$661 $186 $183 $99 $83 $32 $45 $19 
2024635 176 180 95 84 31 45 18 
2025629 174 183 97 85 31 44 16 
2026607 164 180 91 87 30 44 16 
2027592 156 177 89 87 29 43 15 
2028-20322,581 628 804 372 427 135 205 71 
NON-QUALIFIED PENSION PLANS
The accumulated benefit obligation, which equals the projected benefit obligation for non-qualified pension plans, was $232 million for Duke Energy, $10 million for Duke Energy Carolinas, $78 million for Progress Energy, $24 million for Duke Energy Progress, $32 million for Duke Energy Florida, $3 million for Duke Energy Ohio, $2 million for Duke Energy Indiana and $3 million for Piedmont as of December 31, 2022.
Employer contributions, which equal benefits paid for non-qualified pension plans, were $24 million for Duke Energy, $1 million for Duke Energy Carolinas, $10 million for Progress Energy, $3 million for Duke Energy Progress and $4 million for Duke Energy Florida for the year ended December 31, 2022. Employer contributions were not material for Duke Energy Ohio, Duke Energy Indiana or Piedmont for the year ended December 31, 2022.
Net periodic pension costs for non-qualified pension plans were not material for the years ended December 31, 2022, 2021 or 2020.
OTHER POST-RETIREMENT BENEFIT PLANS
Duke Energy provides, and the Subsidiary Registrants participate in, some health care and life insurance benefits for retired employees on a contributory and non-contributory basis. Employees are eligible for these benefits if they have met age and service requirements at retirement, as defined in the plans. The health care benefits include medical, dental, 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, 2022, 2021 or 2020.
Components of Net Periodic Other Post-Retirement Benefit Costs
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)
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$4 $1 $1 $— $— $— $1 $— 
Interest cost on accumulated post-retirement benefit obligation23 5 10 5 4 1 2 1 
Expected return on plan assets(13)(8)— — — — — (2)
Amortization of actuarial loss2 — 1 — 1 — 4 — 
Amortization of prior service credit(14)(4)(3)(1)(2)(1)(1)(2)
Net periodic post-retirement benefit costs(a)(b)
$2 $(6)$9 $4 $3 $— $6 $(3)
(a)    Duke Energy amounts exclude $4 million, $5 million and $6 million for the years ended December 2022, 2021 and 2020, 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 $1 million for the years ended December 2022, 2021 and 2020, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase$(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 $— $— $— $— $— $— $— 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase$(15)$— $(18)$(9)$(9)$4 $(4)$— 
Regulatory liabilities, net increase$23 $12 $— $— $— $4 $1 $2 
Accumulated other comprehensive (income) loss
Amortization of prior year actuarial gain$(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, 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 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$709 $174 $299 $166 $130 $27 $61 $30 
Service cost4 1 1 — — — 1 — 
Interest cost18 4 7 4 3 1 1 1 
Plan participants' contributions14 3 5 3 2 1 2 — 
Actuarial gains(47)(14)(20)(10)(10)(1)(2)(2)
Benefits paid(73)(19)(29)(16)(13)(3)(9)(2)
Accumulated post-retirement benefit obligation at measurement date$625 $149 $263 $147 $112 $25 $54 $27 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$237 $139 $(1)$(2)$(1)$9 $7 $37 
Actual return on plan assets15 9 — — — 1 — 3 
Benefits paid(73)(19)(29)(16)(13)(3)(9)(2)
Employer contributions18 3 24 13 10 1 6 1 
Plan participants' contributions14 3 5 3 2 1 2 — 
Plan assets at measurement date$211 $135 $(1)$(2)$(2)$9 $6 $39 
Funded status of plan$(414)$(14)$(264)$(149)$(114)$(16)$(48)$12 
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$— $— $— $— $— $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)$— $— $— $— $— $— $— 
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$12 $— $— $— $— $1 $— $12 
Current post-retirement liability(a)
9 — 5 3 2 1 — — 
Noncurrent post-retirement liability(b)
417 14 259 146 112 16 48 — 
Net liability (asset) recognized$414 $14 $264 $149 $114 $16 $48 $(12)
Regulatory assets$129 $— $126 $79 $47 $4 $28 $— 
Regulatory liabilities$162 $44 $— $— $— $21 $63 $5 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial gain(14)— — — — — — — 
Net amounts recognized in accumulated other comprehensive income$(12)$— $— $— $— $— $— $— 
(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 and Duke Energy Florida, six years for Duke Energy Carolinas, 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,
202220212020
Benefit Obligations
Discount rate5.60 %2.90 %2.60 %
Net Periodic Benefit Cost
Discount rate2.90 %2.60 %3.30 %
Expected long-term rate of return on plan assets6.50 %6.50 %6.85 %
Assumed Health Care Cost Trend Rate
December 31,
20222021
Health care cost trend rate assumed for next year6.50 %6.25 %
Rate to which the cost trend is assumed to decline (the ultimate trend rate)4.75 %4.75 %
Year that rate reaches ultimate trend2030-20322028
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2023$68 $16 $25 $14 $11 $3 $7 $2 
202449 13 18 10 7 3 4 2 
202545 12 16 9 7 2 3 2 
202641 11 15 9 6 2 3 2 
202738 10 14 8 6 2 3 2 
2028-2032158 41 61 36 25 8 9 9 
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, 2022, and 2021. 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, 2022, Duke Energy assumes qualified pension and other post-retirement plan assets will generate a long-term rate of return of 8.25% for the RCBP pension and RCBP 401(h) account assets and 6.5% 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, 2023, 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. The fair value of securities on loan was approximately $390 million and $542 million at December 31, 2022, and 2021, respectively. Cash and securities obtained as collateral exceeded the fair value of the securities loaned at December 31, 2022, and 2021, respectively. Securities lending income earned by the Duke Energy Corporation Master Retirement Trust was immaterial for the years ended December 31, 2022, 2021 and 2020, 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, 2022, and the actual asset allocations for the RCBP assets.
Actual Allocation at
TargetDecember 31,
Allocation20222021
Global equity securities45 %49 %24 %
Global private equity securities2 %2 %1 %
Debt securities35 %30 %62 %
Return seeking debt securities7 %7 %4 %
Hedge funds4 %6 %3 %
Real estate and cash7 %6 %6 %
Total100 %100 %100 %
The following table includes the target asset allocations by asset class at December 31, 2022, and the actual asset allocations for the DELPP assets.
Actual Allocation at
TargetDecember 31,
Allocation20222021
Global equity securities14 %14 %24 %
Global private equity securities1 %— %1 %
Debt securities80 %80 %62 %
Return seeking debt securities2 %2 %4 %
Hedge funds1 %2 %3 %
Real estate and cash2 %2 %6 %
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, 2022.
Actual Allocation at
TargetDecember 31,
Allocation20222021
U.S. equity securities30 %12 %19 %
Non-U.S. equity securities5 %5 %5 %
Real estate1 %3 %3 %
Debt securities45 %11 %18 %
Cash19 %69 %55 %
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, 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 securities6 — 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.
December 31, 2021
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,575 $2,547 $— $— $28 
Corporate debt securities4,189 — 4,189 — — 
Short-term investment funds382 272 110 — — 
Partnership interests95 — — 95 — 
Hedge funds216 — — — 216 
U.S. government securities1,618 — 1,618 — — 
Governments bonds – foreign78 — 78 — — 
Cash144 144 — — — 
Government and commercial mortgage backed securities 2 — 2 — — 
Net pending transactions and other investments53 12 41 — — 
Total assets(a)
$9,352 $2,975 $6,038 $95 $244 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 26%, 32%, 15%, 17%, 5%, 7% and 4%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2021. 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)20222021
Balance at January 1$95 $— 
Sales(18)— 
Total gains and other, net(8)— 
Transfer of Level 3 assets from other classifications(7)95 
Balance at December 31$62 $95 
Other post-retirement assets
The following tables provide the fair value measurement amounts for VEBA trust assets.
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 
December 31, 2021
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$14 $14 
Real estate2 2 
Equity securities18 18 
Debt securities11 11 
Total assets$45 $45 
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. Certain Piedmont employees whose participation in a prior Piedmont defined benefit plan (that was frozen as of December 31, 2017) are eligible for employer transition credit contributions of 3% to 5% of eligible pay per period, for each pay period during the three-year period ending December 31, 2020.
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,
2022$246 $76 $65 $43 $22 $6 $12 $13 
2021229 70 60 39 21 5 12 11 
2020213 67 57 38 19 5 11 13 
v3.22.4
Income Taxes
 12 Months Ended
Dec. 31, 2022
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 include, among other provisions, the extension and modification of existing investment and PTCs for projects placed in service through 2024 and introduces 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.
Duke Energy has preliminarily reviewed the provisions of the IRA and has determined 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 preliminary 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.
Consolidated Appropriations Act
On December 27, 2020, the Consolidated Appropriations Act (CAA) was signed into law. In addition to the CAA providing funding for government operations, it also provided tax provisions to assist with COVID-19 relief, including extending certain expiring tax provisions. The company has reviewed the provisions of the CAA and has determined that there are no material impacts on the financial statements as a result of the CAA being signed into law.
CARES Act
On March 27, 2020, the CARES Act was enacted. The CARES Act was an emergency economic stimulus package in response to the COVID-19 pandemic. Among other provisions, the CARES Act accelerated the remaining AMT credit refund allowances resulting in taxpayers being able to immediately claim a refund in full for any AMT credit carryforwards and provided for the deferral of certain 2020 payroll taxes. In the third quarter of 2020, Duke Energy received $572 million related to these AMT credit carryforwards and $19 million of interest income. In addition, the company deferred approximately $117 million of payroll taxes, of which, 50% were paid by December 31, 2021, with the remaining 50% payable by December 31, 2022. The other provisions within the CARES Act did not materially impact Duke Energy's income tax accounting.
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, 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.
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $(281)$314 $280 $181 $148 $10 $48 $(27)
State (3)35 29 17 24 1 7 (8)
Foreign 1 — — — — — — — 
Total current income taxes (283)349 309 198 172 11 55 (35)
Deferred income taxes        
Federal 222 (171)(167)(180)1 30 12 60 
State (98)(86)(24)(49)25 2 17 (7)
Total deferred income taxes(a)
124 (257)(191)(229)26 32 29 53 
ITC amortization (10)(4)(5)(5)— — — — 
Income tax (benefit) expense from continuing operations (169)88 113 (36)198 43 84 18 
Tax benefit from discontinued operations (65)— — — — — — — 
Total income tax (benefit) expense included in Consolidated Statements of Operations $(234)$88 $113 $(36)$198 $43 $84 $18 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $20 million at Duke Energy Carolinas, $3 million at Duke Energy Progress, $8 million at Duke Energy Indiana, and $11 million at Piedmont. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $39 million at Progress Energy, $30 million at Duke Energy Florida and $189 million at Duke Energy.    
Duke Energy Income from Continuing Operations before Income Taxes
 Years Ended December 31,
(in millions)202220212020
Domestic$3,991 $3,947 $907 
Foreign87 44 13 
Income from continuing operations before income taxes$4,078 $3,991 $920 
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, 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 excess deferred income tax(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 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 excess deferred income tax(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 the fourth quarter of 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.
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$193 $219 $243 $80 $204 $62 $103 $61 
State income tax, net of federal income tax effect(80)(40)4 (25)39 2 19 (12)
Amortization of excess deferred income tax(276)(82)(118)(68)(49)(20)(36)(21)
AFUDC equity income(48)(13)(9)(6)(3)(2)(4)(10)
AFUDC equity depreciation103 19 10 5 5 1 4 — 
Other tax credits(37)(13)(16)(14)(2)(1)(3)(2)
Tax true up(12)(3)1 (5)5 — (1)1 
Other items, net(12)1 (2)(3)(1)1 2 1 
Income tax (benefit) expense from continuing operations$(169)$88 $113 $(36)$198 $43 $84 $18 
Effective tax rate(18.4)%8.4 %9.7 %(9.5)%20.4 %14.6 %17.1 %6.2 %
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
The following tables include deferred income tax assets and liabilities related to the Commercial Renewables Disposal Groups. See Note 2 for further details.
 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.
The following table presents the expiration of tax credits and NOL carryforwards.
 December 31, 2022
(in millions)AmountExpiration Year
General Business Credits$2,473 2027—2042
Federal NOL carryforwards(a) (e)
306 2024—Indefinite
Charitable contribution carryforwards18 2024—2027
State carryforwards and credits(b) (e)
394 2023—Indefinite
Foreign NOL carryforwards(c)
12 2027—2037
Foreign Tax Credits(d)
1,223 2024—2028
Total tax credits and NOL carryforwards $4,426    
(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 $109 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 $391 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.
 December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $347 $121 $101 $60 $40 $19 $7 $18 
Lease obligations 346 91 197 121 76 4 16 4 
Pension, post-retirement and other employee benefits 207 (36)30 17 7 11 20 (8)
Progress Energy merger purchase accounting adjustments(a)
340 — — — — — — — 
Tax credits and NOL carryforwards 3,784 349 497 160 306 13 195 29 
Regulatory liabilities and deferred credits— 11 — — — 16 — 6 
Investments and other assets— — — — — 5 6 — 
Other 85 12 12 7 4 7 2 8 
Valuation allowance (518)— — — — — — — 
Total deferred income tax assets 4,591 548 837 365 433 75 246 57 
Investments and other assets (2,428)(1,205)(742)(610)(135)— — (39)
Accelerated depreciation rates (10,391)(2,977)(3,891)(1,546)(2,382)(1,125)(1,496)(833)
Regulatory assets and deferred debits, net (1,151)— (768)(417)(350)— (53)— 
Total deferred income tax liabilities (13,970)(4,182)(5,401)(2,573)(2,867)(1,125)(1,549)(872)
Net deferred income tax liabilities $(9,379)$(3,634)$(4,564)$(2,208)$(2,434)$(1,050)$(1,303)$(815)
(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, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$51 $13 $15 $10 $4 $1 $2 $4 
Gross decreases – tax positions in prior periods— — — — — — — — 
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 the fourth quarter of 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.
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$126 $8 $9 $6 $3 $1 $1 $4 
Gross decreases – tax positions in prior periods(2)— — — — — — — 
Gross increases – current period tax positions4 2 1 — — — — — 
Reduction due to lapse of statute of limitations(3)— — — — — — (3)
Total changes(1)2 1 — — — — (3)
Unrecognized tax benefits – December 31$125 $10 $10 $6 $3 $1 $1 $1 
The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits at December 31, 2022. None of Duke Energy Registrants anticipates a material increase or decrease in unrecognized tax benefits within the next 12 months.
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Amount that if recognized, would affect the
effective tax rate or regulatory liability(a)
$59 $17 $18 $13 $5 $1 $2 $8 
(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 2016, aside from certain state tax attributes carried forward for utilization in future years.
v3.22.4
Other Income and Expenses, Net
 12 Months Ended
Dec. 31, 2022
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, 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, other 134 107 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 
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $30 $4 $8 $2 $6 $4 $6 $17 
AFUDC equity 154 62 42 29 12 7 23 19 
Post in-service equity returns 27 17 8 8 — 1 1 — 
Nonoperating income, other240 94 71 36 35 4 7 15 
Other income and expense, net$451 $177 $129 $75 $53 $16 $37 $51 
v3.22.4
Subsequent Events
 12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTSFor information on subsequent events related to dispositions, regulatory matters, commitments and contingencies, and debt and credit facilities see Notes 2, 4, 5 and 7, respectively.
v3.22.4
Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2022
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
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 stockholders818 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 
2021     
Operating revenues $6,032 $5,638 $6,834 $6,117 $24,621 
Operating income 1,466 1,198 1,726 1,110 5,500 
Income from continuing operations 967 723 1,333 700 3,723 
Loss from discontinued operations, net of tax(26)(25)(57)(36)(144)
Net income941 698 1,276 664 3,579 
Net income available to Duke Energy Corporation common stockholders953 751 1,366 732 3,802 
Earnings per share:      
Income from continuing operations available to Duke Energy Corporation common stockholders      
Basic and diluted$1.22 $0.90 $1.69 $0.86 $4.68 
Income from discontinued operations attributable to Duke Energy Corporation common stockholders 
Basic and diluted$0.03 $0.06 $0.10 $0.07 $0.26 
Net income available to Duke Energy Corporation common stockholders      
Basic and diluted$1.25 $0.96 $1.79 $0.93 $4.94 
v3.22.4
Summary of Significant Accounting Policies (Policy)
 12 Months Ended
Dec. 31, 2022
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 OperationsDuke 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, 2022, 2021 and 2020, 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 regulated and nonregulated subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Consolidated Balance Sheet. 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 CashAll 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 InventoryInventory related to regulated operations is valued at historical cost. Inventory related to nonregulated operations is valued at the lower of cost or market. Inventory is charged to expense or capitalized to property, plant and equipment when issued, primarily using the average cost method. Excess or obsolete inventory is written down to the lower of cost or net realizable value. Once inventory has been written down, it creates a new cost basis for the inventory that is not subsequently written up. Provisions for inventory write-offs were not material at December 31, 2022, and 2021, respectively.
Investments in Debt and Equity Securities Investments in Debt and Equity SecuritiesThe 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.
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,
 202220212020
Duke Energy 3.0 %2.9 %3.0 %
Duke Energy Carolinas 2.7 %2.7 %2.8 %
Progress Energy 3.2 %3.1 %3.2 %
Duke Energy Progress 3.0 %3.0 %3.1 %
Duke Energy Florida 3.5 %3.3 %3.3 %
Duke Energy Ohio 2.9 %2.9 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.5 %
Piedmont2.1 %2.1 %2.3 %
In general, when the Duke Energy Registrants retire regulated property, plant and equipment, the original cost plus the cost of retirement, less salvage value and any depreciation already recognized, is charged to accumulated depreciation. However, when it becomes probable the asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory assets on the Consolidated Balance Sheets if deemed recoverable (see discussion of long-lived asset impairments above). The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate.
When the Duke Energy Registrants sell entire regulated operating units, or retire or sell nonregulated properties, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets. Any gain or loss is recorded in earnings, unless otherwise required by the applicable regulatory body. See Note 11 for additional information.
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.
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
Asset Retirement Obligations
AROs are recognized for legal obligations associated with the retirement of property, plant and equipment. Substantially all AROs are related to regulated operations. When recording an ARO, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset unless determined not to be probable of recovery.
The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the ARO for regulated operations through a combination of regulated revenues and earnings on the NDTF. As a result, amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset are netted and deferred as a regulatory asset or liability.
Accounts Payable Accounts PayableDuring 2020, Duke Energy established a supply chain finance program (the “program”) with a global financial institution. The program is voluntary and allows Duke Energy suppliers, at their sole discretion, to sell their receivables from Duke Energy to the 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.
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. 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
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 BenefitsDuke 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 GuaranteesIf 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 TaxesCertain 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. At December 31, 2022, and 2021, an insignificant amount of Duke Energy’s consolidated Retained earnings balance represents undistributed earnings of equity method investments.
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 FASB 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.
The following accounting standard was adopted by the Duke Energy Registrants in 2020.
Current Expected Credit Losses. In June 2016, the FASB issued new accounting guidance for credit losses. Duke Energy adopted the new accounting guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year results. Duke Energy did not adopt any practical expedients.
Duke Energy recognizes allowances for credit losses based on management's estimate of losses expected to be incurred over the lives of certain assets or guarantees. Management monitors credit quality, changes in expected credit losses and the appropriateness of the allowance for credit losses on a forward-looking basis. Management reviews the risk of loss periodically as part of the existing assessment of collectability of receivables.
Duke Energy reviews the credit quality of its counterparties as part of its regular risk management process and requires credit enhancements, such as deposits or letters of credit, as appropriate and as allowed by regulators.
Duke Energy recorded cumulative effects of changes in accounting principles related to the adoption of the new credit loss standard for allowances and credit losses of trade and other receivables, insurance receivables and financial guarantees. These amounts are included in the Consolidated Balance Sheets in Receivables, Receivables of VIEs, Other Noncurrent Assets and Other Noncurrent Liabilities.
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, were exercised or settled.
v3.22.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022, or 2021.
December 31,
(in millions)Location20222021
Duke Energy
Accrued compensationCurrent Liabilities$778 $915 
Duke Energy Carolinas
Accrued compensation Current Liabilities$247 $277 
Duke Energy Progress  
Customer depositsCurrent Liabilities$106 $144 
Other accrued liabilitiesCurrent Liabilities124 163 
Duke Energy Florida  
Customer deposits Current Liabilities$200 $200 
Other accrued liabilitiesCurrent Liabilities61 89 
Duke Energy Ohio  
Gas StorageCurrent Assets$57 $25 
Collateral liabilitiesCurrent Liabilities53 57 
Duke Energy Indiana    
Mark-to-market transactionsCurrent Assets$110 $23 
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, 2022
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$409 $44 $108 $49 $45 
Other173 8 74 28 41 
Other Noncurrent Assets
Other11 1 2 2 — 
Total cash, cash equivalents and restricted cash$593 $53 $184 $79 $86 
December 31, 2021
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
EnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$341 $7 $70 $35 $23 
Other170 — 39 — 39 
Other Noncurrent Assets
Other6 1 4 4 — 
Total cash, cash equivalents and restricted cash$517 $8 $113 $39 $62 
Components of Inventory The components of inventory are presented in the tables below.
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,604 $876 $1,232 $819 $413 $105 $342 $12 
Coal 620 253 190 99 91 34 144 — 
Natural gas, oil and other 360 35 157 88 69 5 3 160 
Total inventory $3,584 $1,164 $1,579 $1,006 $573 $144 $489 $172 
 December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,309 $793 $1,067 $729 $338 $80 $311 $14 
Coal486 195 167 94 73 19 105 — 
Natural gas, oil and other316 38 164 98 66 17 2 95 
Total inventory $3,111 $1,026 $1,398 $921 $477 $116 $418 $109 
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,
 202220212020
Duke Energy 3.0 %2.9 %3.0 %
Duke Energy Carolinas 2.7 %2.7 %2.8 %
Progress Energy 3.2 %3.1 %3.2 %
Duke Energy Progress 3.0 %3.0 %3.1 %
Duke Energy Florida 3.5 %3.3 %3.3 %
Duke Energy Ohio 2.9 %2.9 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.5 %
Piedmont2.1 %2.1 %2.3 %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
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 
Plant – Nonregulated  
Other buildings and improvements 10369 — — — — — — — 
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 
Other156,090 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 – nonregulated(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.
December 31, 2021
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,145 $543 $957 $482 $475 $219 $122 $279 
Plant – Regulated
Electric generation, distribution and transmission 40120,855 44,910 53,447 32,417 21,030 6,573 15,925 — 
Natural gas transmission and distribution 5412,079 — — — — 3,347 — 8,732 
Other buildings and improvements 371,921 550 514 228 286 381 321 155 
Plant – Nonregulated
Other buildings and improvements 11401 — — — — — — — 
Nuclear fuel 3,181 1,856 1,325 1,325 — — — — 
Equipment 132,659 614 791 497 294 403 262 122 
Construction in process 5,979 2,078 2,297 954 1,343 515 460 262 
Other145,276 1,323 1,563 1,115 437 287 253 368 
Total property, plant and equipment(a)
154,496 51,874 60,894 37,018 23,865 11,725 17,343 9,918 
Total accumulated depreciation – regulated(b)(c)
(47,611)(17,854)(19,214)(13,387)(5,819)(3,106)(5,583)(1,899)
Total accumulated depreciation – nonregulated(d)
(1,493)— — — — — — — 
Facilities to be retired, net144 102 26 26 — 6 — 11 
Total net property, plant and equipment $105,536 $34,122 $41,706 $23,657 $18,046 $8,625 $11,760 $8,030 
(a)    Includes finance leases of $958 million, $335 million, $729 million, $627 million, $102 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 $178 million, $45 million and $133 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,799 million, $1,064 million, $735 million and $735 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 $9 million, $33 million, and $3 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 continues 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 is 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, 2022, and December 31, 2021.
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Outstanding Accounts Payable Balance Sold$87 $6 $19 $8 $11 $5 $— $57 
Suppliers Invoices Settled Through The Program301 29 85 26 59 38 2 147 
December 30, 2021
DukeDuke
DukeProgressEnergyEnergy
(in millions)EnergyEnergyFloridaOhioPiedmont
Outstanding Accounts Payable Balance Sold$19 $9 $9 $6 $4 
Suppliers Invoices Settled Through The Program122 10 10 12 100 
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) 202220212020
Duke Energy $449 $420 $415 
Duke Energy Carolinas 47 44 43 
Progress Energy 290 250 249 
Duke Energy Progress 25 22 26 
Duke Energy Florida 265 228 223 
Duke Energy Ohio 104 102 96 
Duke Energy Indiana 7 23 25 
Piedmont1 1 2 
Summary of Effects of New Accounting Pronouncements
Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below:
 January 1, 2020
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaPiedmont
Total pretax impact to Retained Earnings$120 $16 $2 $1 $1 $1 
v3.22.4
Dispositions (Tables)
 12 Months Ended
Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The following table summarizes the Loss from Discontinued Operations, net of tax recorded on Duke Energy's Consolidated Statements of Operations:
Years Ended December 31,
(in millions)202220212020
Commercial Renewables Disposal Groups$(1,349)$(151)$(14)
Other(a)
26 7 7 
Loss from Discontinued Operations, net of tax$(1,323)$(144)$(7)
(a)     Amount represents an income tax benefit resulting from 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)20222021
Current Assets Held for Sale
Cash and cash equivalents$10 $3 
Receivables, net107 87 
Inventory88 86 
Other57 56 
Total current assets held for sale262 232 
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost6,444 7,323 
Accumulated depreciation and amortization(1,651)(1,452)
Net property, plant and equipment4,793 5,871 
Operating lease right-of-use assets, net140 130 
Investments in equity method unconsolidated affiliates522 513 
Other179 181 
Total other noncurrent assets held for sale841 824 
Total Assets Held for Sale$5,896 $6,927 
Current Liabilities Associated with Assets Held for Sale
Accounts payable$122 $98 
Taxes accrued17 18 
Other120 51 
Total current liabilities associated with assets held for sale259 167 
Noncurrent Liabilities Associated with Assets Held for Sale
Operating lease liabilities150 134 
Asset retirement obligations190 175 
Other399 303 
Total other noncurrent liabilities associated with assets held for sale739 612 
Total Liabilities Associated with Assets Held for Sale$998 $779 
As of December 31, 2022, the noncontrolling interest balance is $1.6 billion.
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)202220212020
Operating revenues$465 $476 $502 
Operation, maintenance and other337343292
Depreciation and amortization(a)
201227200
Property and other taxes363426
Other income and expenses, net2 (27)1
Interest expense107266
Loss on disposal1,748 — — 
Loss before income taxes(1,865)(227)(81)
Income tax benefit(516)(76)(67)
Loss from discontinued operations $(1,349)$(151)$(14)
Add: Net loss attributable to noncontrolling interest included in discontinued operations108 344 296 
Net income from discontinued operations attributable to Duke Energy Corporation $(1,241)$193 $282 
(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' held for sale assets included pretax impairments of approximately $1.7 billion for the year ended December 31, 2022. The impairment was recorded to write-down the carrying amount of the property, plant and equipment assets to the estimated fair value of the business, based on the expected selling price less estimated cost to sell. These losses were included in Loss from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations and Comprehensive Income. The fair value was primarily determined from the income approach using discounted cash flows but also considered market information obtained through the bidding process. The discounted cash flow model utilized Level 2 and Level 3 inputs. The fair value hierarchy levels are further discussed in Note 17. The impairment will be updated, if necessary, based on the final sales price, after any adjustments at closing for working capital and capital expenditures.
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)202220212020
Cash flows provided by (used in):
Operating activities$213 $62 $466 
Investing activities(802)(542)(1,102)
v3.22.4
Business Segments (Tables)
 12 Months Ended
Dec. 31, 2022
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, 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 affiliates7 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. See Notes 4 and 5 for more information.
(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. See Note 4 for additional information.
(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.
Year Ended December 31, 2020
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated Revenues$21,687 $1,653 $23,340 $26 $— $23,366 
Intersegment Revenues33 95 128 73 (201)— 
Total Revenues$21,720 $1,748 $23,468 $99 $(201)$23,366 
Interest Expense$1,320 $135 $1,455 $657 $(15)$2,097 
Depreciation and amortization4,068 258 4,326 207 (29)4,504 
Equity in (losses) earnings of unconsolidated affiliates(1)(2,017)(2,018)13 — (2,005)
Income tax expense (benefit)340 (349)(9)(160)— (169)
Segment income (loss)(a)(b)(c)
2,669 (1,266)1,403 (418)(4)981 
Less noncontrolling interest295 
Add back preferred stock dividend107 
Discontinued operations289 
Net income$1,082 
Capital investments expenditures and acquisitions(d)
$7,629 $1,309 $8,938 $1,483 $— $10,421 
Segment assets(e)
138,225 13,849 152,074 10,314 — 162,388 
(a)    EU&I includes $948 million of Impairment of assets and other charges and a reversal of $152 million included in Regulated electric operating revenue related to the CCR Settlement Agreement filed with the NCUC. Additionally, EU&I includes $19 million of Impairment of assets and other charges related to the Clemson University Combined Heat and Power Plant, $5 million of Impairment charges related to the natural gas pipeline assets and $16 million of shareholder contributions within Operations, maintenance and other related to Duke Energy Carolinas' and Duke Energy Progress' 2019 North Carolina rate cases. See Note 4 for additional information.
(b)    GU&I includes $2.1 billion recorded within Equity in (losses) earnings of unconsolidated affiliates and $7 million of Impairment of assets and other charges related to natural gas pipeline investments. See Notes 4 and 13 for additional information.
(c)    Other includes a $98 million reversal of 2018 severance costs due to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case. See Note 21 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
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 
2020
Electric Utilities and Infrastructure$18,898 $1,878 $— $944 $21,720 
Gas Utilities and Infrastructure— — 1,691 57 1,748 
Total Reportable Segments$18,898 $1,878 $1,691 $1,001 $23,468 
Duke Energy Ohio  
Segment Reporting Information [Line Items]  
Business Segment Data
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 Income141 78 219 (15)— 204 
Capital expenditures$486 $362 $848 $— $— $848 
Segment assets6,882 3,892 10,774 29 (29)10,774 
Year Ended December 31, 2020
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,405 $453 $1,858 $— $— $1,858 
Interest expense$85 $17 $102 $— $— $102 
Depreciation and amortization200 78 278 — — 278 
Income tax expense (benefit)19 26 45 (2)— 43 
Segment income (loss)162 96 258 (6)— 252 
Capital expenditures$548 $286 $834 $— $— $834 
Segment assets6,615 3,380 9,995 32 (2)10,025 
v3.22.4
Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2022
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)2022202120222021
Regulatory Assets
AROs – coal ash$3,205 $3,408 $1,429 $1,399 
AROs – nuclear and other945 684 884 620 
Deferred fuel and purchased power3,866 1,253 2,060 718 
Accrued pension and OPEB2,336 2,017 759 725 
Storm cost securitized balance, net940 991 720 759 
Nuclear asset securitized balance, net881 937 881 937 
Debt fair value adjustment829 884 — — 
Storm cost deferrals666 213 559 189 
Hedge costs deferrals378 348 128 137 
Post-in-service carrying costs (PISCC) and deferred operating expenses342 356 42 47 
Retired generation facilities316 357 243 265 
Deferred asset – Lee and Harris COLA288 317 21 21 
Advanced metering infrastructure (AMI)283 311 111 130 
Customer connect project271 242 136 124 
Costs of removal regulatory asset221 107 221 107 
Vacation accrual222 221 43 42 
Incremental COVID-19 expenses210 87 78 28 
CEP deferral190 161 — — 
Demand side management (DSM)/Energy efficiency (EE)189 235 188 230 
Derivatives – natural gas supply contracts168 139 — — 
NCEMPA deferrals157 165 157 165 
Nuclear deferral154 120 64 42 
Deferred pipeline integrity costs121 108 — — 
COR settlement120 123 32 32 
Deferred coal ash handling system costs92 90 25 23 
Qualifying facility contract buyouts81 94 81 94 
Amounts due from customers57 85 — — 
Propane caverns26 — — — 
Deferred severance charges21 54 7 18 
Manufactured gas plant (MGP)— 104 — — 
Other555 426 110 87 
Total regulatory assets18,130 14,637 8,979 6,939 
Less: current portion3,485 2,150 1,833 1,030 
Total noncurrent regulatory assets$14,645 $12,487 $7,146 $5,909 
Regulatory Liabilities
Net regulatory liability related to income taxes$6,462 $7,199 $2,192 $2,394 
Costs of removal5,151 6,150 2,269 2,955 
AROs – nuclear and other1,038 2,053 — — 
Hedge cost deferrals683 364 252 155 
Accrued pension and OPEB211 213 — — 
DOE Settlement154 — 154 — 
Provision for rate refunds78 274 28 87 
Amounts to be refunded to customers45 — — — 
Other1,226 1,110 434 453 
Total regulatory liabilities 15,048 17,363 5,329 6,044 
Less: current portion 1,466 1,211 576 478 
Total noncurrent regulatory liabilities $13,582 $16,152 $4,753 $5,566 
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)2022202120222021
Regulatory Assets
AROs – coal ash$3,205 $3,408 $1,429 $1,399 
AROs – nuclear and other945 684 884 620 
Deferred fuel and purchased power3,866 1,253 2,060 718 
Accrued pension and OPEB2,336 2,017 759 725 
Storm cost securitized balance, net940 991 720 759 
Nuclear asset securitized balance, net881 937 881 937 
Debt fair value adjustment829 884 — — 
Storm cost deferrals666 213 559 189 
Hedge costs deferrals378 348 128 137 
Post-in-service carrying costs (PISCC) and deferred operating expenses342 356 42 47 
Retired generation facilities316 357 243 265 
Deferred asset – Lee and Harris COLA288 317 21 21 
Advanced metering infrastructure (AMI)283 311 111 130 
Customer connect project271 242 136 124 
Costs of removal regulatory asset221 107 221 107 
Vacation accrual222 221 43 42 
Incremental COVID-19 expenses210 87 78 28 
CEP deferral190 161 — — 
Demand side management (DSM)/Energy efficiency (EE)189 235 188 230 
Derivatives – natural gas supply contracts168 139 — — 
NCEMPA deferrals157 165 157 165 
Nuclear deferral154 120 64 42 
Deferred pipeline integrity costs121 108 — — 
COR settlement120 123 32 32 
Deferred coal ash handling system costs92 90 25 23 
Qualifying facility contract buyouts81 94 81 94 
Amounts due from customers57 85 — — 
Propane caverns26 — — — 
Deferred severance charges21 54 7 18 
Manufactured gas plant (MGP)— 104 — — 
Other555 426 110 87 
Total regulatory assets18,130 14,637 8,979 6,939 
Less: current portion3,485 2,150 1,833 1,030 
Total noncurrent regulatory assets$14,645 $12,487 $7,146 $5,909 
Regulatory Liabilities
Net regulatory liability related to income taxes$6,462 $7,199 $2,192 $2,394 
Costs of removal5,151 6,150 2,269 2,955 
AROs – nuclear and other1,038 2,053 — — 
Hedge cost deferrals683 364 252 155 
Accrued pension and OPEB211 213 — — 
DOE Settlement154 — 154 — 
Provision for rate refunds78 274 28 87 
Amounts to be refunded to customers45 — — — 
Other1,226 1,110 434 453 
Total regulatory liabilities 15,048 17,363 5,329 6,044 
Less: current portion 1,466 1,211 576 478 
Total noncurrent regulatory liabilities $13,582 $16,152 $4,753 $5,566 
Schedule of Potential Plant Retirements
The table below contains the net carrying value of generating facilities planned for retirement or included in recent IRPs or Carbon Plan as evaluated for potential retirement. Dollar amounts in the table below are included in Net property, plant and equipment on the Consolidated Balance Sheets as of December 31, 2022, and exclude capitalized asset retirement costs.
Remaining Net
CapacityBook Value
(in MW)(in millions)
Duke Energy Carolinas
Allen Steam Station Unit 1(a)
167 $10 
Allen Steam Station Unit 5(b)
259 233 
Cliffside Unit 5(b)
546 344 
Marshall Units 1-2(b)
760428
Duke Energy Progress
Mayo Unit 1(b)
713 639 
Roxboro Units 3-4(b)
1,409 425 
Duke Energy Florida
Crystal River Units 4-5(c)
1,442 1,549 
Duke Energy Indiana
Gibson Units 1-5(d)
2,845 2,043 
Cayuga Units 1-2(d)
1,005 622 
Total Duke Energy9,146 $6,293 
(a)    As part of the 2015 resolution of a lawsuit involving alleged New Source Review violations, Duke Energy Carolinas must retire Allen Steam Station Unit 1 by December 31, 2024.
(b)    These units were included in the IRP filed by Duke Energy Carolinas and Duke Energy Progress in South Carolina on September 1, 2020, and in the Carbon Plan adopted by the NCUC in December 2022. The long-term energy options considered could result in retirement of these units earlier than their current estimated useful lives.
(c)    On January 14, 2021, Duke Energy Florida filed the 2021 Settlement agreement with the FPSC, which proposed depreciation rates reflecting retirement dates for Duke Energy Florida's last two coal-fired generating facilities, Crystal River Units 4-5, eight years ahead of schedule in 2034 rather than in 2042. The FPSC approved the 2021 Settlement on May 4, 2021. The remaining net book value reflected in the table above excludes $200 million of accelerated deprecation collected from retail customers pursuant to Duke Energy Florida's 2017 Settlement.
(d)    The rate case filed July 2, 2019, included proposed depreciation rates reflecting retirement dates from 2026 to 2038. The depreciation rates reflecting these updated retirement dates were approved by the IURC as part of the rate case order issued on June 29, 2020.
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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,391 $1,227 (g)(b)
Deferred fuel and purchased power(i)
1,614 339 (e)2024
Accrued pension and OPEB(c)
614 365 Yes(h)
Storm cost securitized balance, net
220 232 2041
Storm cost deferrals
93 22 Yes(b)
Hedge costs deferrals(c)
228 171 Yes(b)
PISCC and deferred operating expenses(c)
30 31 Yes(b)
Retired generation facilities(c)
39 54 Yes(b)
Deferred asset – Lee COLA
267 296 (b)
AMI
139 140 Yes(b)
Customer connect project
62 66 Yes(b)
Vacation accrual
84 83 2023
Incremental COVID-19 expenses
127 51 Yes(b)
Nuclear deferral
90 78 2024
COR settlement
88 91 Yes(b)
Deferred coal ash handling system costs
67 67 Yes(b)
Other235 166 (b)
Total regulatory assets5,388 3,479 
Less: current portion1,095 544 
Total noncurrent regulatory assets$4,293 $2,935 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)
$2,475 $2,785 (b)
Costs of removal(c)
1,769 2,009 Yes(f)
AROs – nuclear and other
1,038 2,053 (b)
Hedge cost deferrals
350 209 (b)
Accrued pension and OPEB(c)
44 44 Yes(h)
Provision for rate refunds
50 124 Yes(b)
Other 587 461 (b)
Total regulatory liabilities6,313 7,685 
Less: current portion530 487 
Total noncurrent regulatory liabilities$5,783 $7,198 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)     Included in rate base.
(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. 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.
(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 May 2022 for recovery of $327 million, which included deferrals through January 2022. This amount is expected to be recovered through August 2023. The next filing will be made in the first quarter of 2023. Duke Energy Carolinas submitted a fuel filing to the PSCSC in July 2022 for recovery of $79 million, which included deferrals through May 2022. The amount is expected to be recovered through September 2023. The next filing will be made in the third quarter of 2023.
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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,391 $1,227 (g)(b)
Deferred fuel and purchased power(i)
1,614 339 (e)2024
Accrued pension and OPEB(c)
614 365 Yes(h)
Storm cost securitized balance, net
220 232 2041
Storm cost deferrals
93 22 Yes(b)
Hedge costs deferrals(c)
228 171 Yes(b)
PISCC and deferred operating expenses(c)
30 31 Yes(b)
Retired generation facilities(c)
39 54 Yes(b)
Deferred asset – Lee COLA
267 296 (b)
AMI
139 140 Yes(b)
Customer connect project
62 66 Yes(b)
Vacation accrual
84 83 2023
Incremental COVID-19 expenses
127 51 Yes(b)
Nuclear deferral
90 78 2024
COR settlement
88 91 Yes(b)
Deferred coal ash handling system costs
67 67 Yes(b)
Other235 166 (b)
Total regulatory assets5,388 3,479 
Less: current portion1,095 544 
Total noncurrent regulatory assets$4,293 $2,935 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)
$2,475 $2,785 (b)
Costs of removal(c)
1,769 2,009 Yes(f)
AROs – nuclear and other
1,038 2,053 (b)
Hedge cost deferrals
350 209 (b)
Accrued pension and OPEB(c)
44 44 Yes(h)
Provision for rate refunds
50 124 Yes(b)
Other 587 461 (b)
Total regulatory liabilities6,313 7,685 
Less: current portion530 487 
Total noncurrent regulatory liabilities$5,783 $7,198 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)     Included in rate base.
(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. 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.
(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 May 2022 for recovery of $327 million, which included deferrals through January 2022. This amount is expected to be recovered through August 2023. The next filing will be made in the first quarter of 2023. Duke Energy Carolinas submitted a fuel filing to the PSCSC in July 2022 for recovery of $79 million, which included deferrals through May 2022. The amount is expected to be recovered through September 2023. The next filing will be made in the third quarter of 2023.
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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,418 $1,389 (g)(b)
AROs – nuclear and other
869 613 (c)
Deferred fuel and purchased power(l)
705 303 (e)2024
Accrued pension and OPEB(d)
417 351 Yes(j)
Storm cost securitized balance, net
720 759 2041
Storm cost deferrals
234 170 Yes(b)
Hedge costs deferrals
55 60 (b)
PISCC and deferred operating expenses
42 47 Yes2054
Retired generation facilities
149 171 Yes(b)
Deferred asset - Harris COLA
21 21 (b)
AMI
81 92 Yes(b)
Customer connect project
54 57 Yes(b)
Vacation accrual
43 42 2023
Incremental COVID-19 expenses
78 28 Yes(b)
DSM/EE(d)
180 218 (h)(h)
NCEMPA deferrals
157 165 (f)2042
Nuclear deferral
64 42 2024
COR settlement
32 32 Yes(b)
Deferred coal ash handling system costs
25 23 Yes(b)
Other70 68 (b)
Total regulatory assets5,414 4,651 
Less: current portion690 533 
Total noncurrent regulatory assets$4,724 $4,118 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(k)
$1,559 $1,695 (b)
Costs of removal(d)
2,269 2,955 Yes(i)
Hedge cost deferrals
252 155 (b)
Provision for rate refunds
28 87 Yes(b)
Other 344 357 (b)
Total regulatory liabilities4,452 5,249 
Less: current portion332 381 
Total noncurrent regulatory liabilities$4,120 $4,868 
(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.
(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, both discussed in Note 24. Portions are included in rate base.
(l)    Duke Energy Progress submitted a fuel filing to the NCUC in August 2022 for recovery of $251 million, which included deferrals through June 2022. This amount is expected to be recovered through November 2023. The next filing will be made in the second quarter of 2023. Duke Energy Progress submitted a fuel filing to the PSCSC in April 2022 for recovery of $44 million, which included deferrals through February 2022. This amount is expected to be recovered through June 2023. The next filing will be made in the second quarter of 2023.
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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,418 $1,389 (g)(b)
AROs – nuclear and other
869 613 (c)
Deferred fuel and purchased power(l)
705 303 (e)2024
Accrued pension and OPEB(d)
417 351 Yes(j)
Storm cost securitized balance, net
720 759 2041
Storm cost deferrals
234 170 Yes(b)
Hedge costs deferrals
55 60 (b)
PISCC and deferred operating expenses
42 47 Yes2054
Retired generation facilities
149 171 Yes(b)
Deferred asset - Harris COLA
21 21 (b)
AMI
81 92 Yes(b)
Customer connect project
54 57 Yes(b)
Vacation accrual
43 42 2023
Incremental COVID-19 expenses
78 28 Yes(b)
DSM/EE(d)
180 218 (h)(h)
NCEMPA deferrals
157 165 (f)2042
Nuclear deferral
64 42 2024
COR settlement
32 32 Yes(b)
Deferred coal ash handling system costs
25 23 Yes(b)
Other70 68 (b)
Total regulatory assets5,414 4,651 
Less: current portion690 533 
Total noncurrent regulatory assets$4,724 $4,118 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(k)
$1,559 $1,695 (b)
Costs of removal(d)
2,269 2,955 Yes(i)
Hedge cost deferrals
252 155 (b)
Provision for rate refunds
28 87 Yes(b)
Other 344 357 (b)
Total regulatory liabilities4,452 5,249 
Less: current portion332 381 
Total noncurrent regulatory liabilities$4,120 $4,868 
(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.
(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, both discussed in Note 24. Portions are included in rate base.
(l)    Duke Energy Progress submitted a fuel filing to the NCUC in August 2022 for recovery of $251 million, which included deferrals through June 2022. This amount is expected to be recovered through November 2023. The next filing will be made in the second quarter of 2023. Duke Energy Progress submitted a fuel filing to the PSCSC in April 2022 for recovery of $44 million, which included deferrals through February 2022. This amount is expected to be recovered through June 2023. The next filing will be made in the second quarter of 2023.
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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$11 $10 (b)
AROs – nuclear and other
15 7 (b)
Deferred fuel and purchased power(h)
1,355 415 (f)2024
Accrued pension and OPEB(c)
342 374 Yes(g)
Nuclear asset securitized balance, net
881 937 2036
Storm cost deferrals(c)
325 19 (f)(b)
Hedge costs deferrals(c)
73 77 Yes2038
Retired generation facilities(c)
94 94 Yes2044
AMI(c)
30 38 Yes2032
Customer connect project(c)
82 67 Yes2037
Costs of removal regulatory asset(c)
221 107 (d)(b)
Qualifying facility contract buyouts(c)
81 94 Yes2034
Other55 49 (d)(b)
Total regulatory assets3,565 2,288 
Less: current portion1,143 497 
Total noncurrent regulatory assets$2,422 $1,791 
Net regulatory liability related to income taxes(c)
$633 $699 (b)
DOE Settlement
154 — 
Other 90 97 (d)(b)
Total regulatory liabilities877 796 
Less: current portion244 98 
Total noncurrent regulatory liabilities$633 $698 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Certain costs earn/pay a return.
(e)    Earns a debt return/interest once collections begin.
(f)    Earns commercial paper rate.
(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(h)    Duke Energy Florida submitted a fuel filing to the FPSC in January 2023 for recovery of $795 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 expected recovery period is April 2023 through March 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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$11 $10 (b)
AROs – nuclear and other
15 7 (b)
Deferred fuel and purchased power(h)
1,355 415 (f)2024
Accrued pension and OPEB(c)
342 374 Yes(g)
Nuclear asset securitized balance, net
881 937 2036
Storm cost deferrals(c)
325 19 (f)(b)
Hedge costs deferrals(c)
73 77 Yes2038
Retired generation facilities(c)
94 94 Yes2044
AMI(c)
30 38 Yes2032
Customer connect project(c)
82 67 Yes2037
Costs of removal regulatory asset(c)
221 107 (d)(b)
Qualifying facility contract buyouts(c)
81 94 Yes2034
Other55 49 (d)(b)
Total regulatory assets3,565 2,288 
Less: current portion1,143 497 
Total noncurrent regulatory assets$2,422 $1,791 
Net regulatory liability related to income taxes(c)
$633 $699 (b)
DOE Settlement
154 — 
Other 90 97 (d)(b)
Total regulatory liabilities877 796 
Less: current portion244 98 
Total noncurrent regulatory liabilities$633 $698 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Certain costs earn/pay a return.
(e)    Earns a debt return/interest once collections begin.
(f)    Earns commercial paper rate.
(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(h)    Duke Energy Florida submitted a fuel filing to the FPSC in January 2023 for recovery of $795 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 expected recovery period is April 2023 through March 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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$— $33 Yes(b)
Deferred fuel and purchased power
54 38 2023
Accrued pension and OPEB
129 133 (e)
Storm cost deferrals
14 2 2023
Hedge costs deferrals
2 5 (b)
PISCC and deferred operating expenses(c)
15 16 Yes2083
AMI
18 24 (b)
Customer connect project
54 41 (b)
CEP deferral
190 161 Yes(b)
Deferred pipeline integrity costs
28 24 Yes(b)
Propane caverns
26 — (b)
Manufactured gas plant (MGP)
— 104 (b)
Other154 126 (b)
Total regulatory assets684 707 
Less: current portion103 72 
Total noncurrent regulatory assets$581 $635 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$496 $602 (b)
Costs of removal
9 39 (d)
Accrued pension and OPEB
21 21 (e)
Provision for rate refunds
— 61 
Other 107 78 (b)
Total regulatory liabilities633 801 
Less: current portion99 62 
Total noncurrent regulatory liabilities$534 $739 
(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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$— $33 Yes(b)
Deferred fuel and purchased power
54 38 2023
Accrued pension and OPEB
129 133 (e)
Storm cost deferrals
14 2 2023
Hedge costs deferrals
2 5 (b)
PISCC and deferred operating expenses(c)
15 16 Yes2083
AMI
18 24 (b)
Customer connect project
54 41 (b)
CEP deferral
190 161 Yes(b)
Deferred pipeline integrity costs
28 24 Yes(b)
Propane caverns
26 — (b)
Manufactured gas plant (MGP)
— 104 (b)
Other154 126 (b)
Total regulatory assets684 707 
Less: current portion103 72 
Total noncurrent regulatory assets$581 $635 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$496 $602 (b)
Costs of removal
9 39 (d)
Accrued pension and OPEB
21 21 (e)
Provision for rate refunds
— 61 
Other 107 78 (b)
Total regulatory liabilities633 801 
Less: current portion99 62 
Total noncurrent regulatory liabilities$534 $739 
(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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$385 $749 Yes(b)
Deferred fuel and purchased power
138 158 2023
Accrued pension and OPEB
214 222 (e)
Hedge costs deferrals
20 35 (b)
PISCC and deferred operating expenses(c)
255 262 Yes(b)
Retired generation facilities(c)
34 38 Yes2030
AMI
15 17 2031
Customer connect project
19 11 (b)
Other44 63 (b)
Total regulatory assets1,124 1,555 
Less: current portion249 277 
Total noncurrent regulatory assets$875 $1,278 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$840 $908 (b)
Costs of removal
531 575 (d)
Hedge cost deferrals
81 — (b)
Accrued pension and OPEB
104 113 (e)
Other 85 96 (b)
Total regulatory liabilities1,641 1,692 
Less: current portion187 127 
Total noncurrent regulatory liabilities$1,454 $1,565 
(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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$385 $749 Yes(b)
Deferred fuel and purchased power
138 158 2023
Accrued pension and OPEB
214 222 (e)
Hedge costs deferrals
20 35 (b)
PISCC and deferred operating expenses(c)
255 262 Yes(b)
Retired generation facilities(c)
34 38 Yes2030
AMI
15 17 2031
Customer connect project
19 11 (b)
Other44 63 (b)
Total regulatory assets1,124 1,555 
Less: current portion249 277 
Total noncurrent regulatory assets$875 $1,278 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$840 $908 (b)
Costs of removal
531 575 (d)
Hedge cost deferrals
81 — (b)
Accrued pension and OPEB
104 113 (e)
Other 85 96 (b)
Total regulatory liabilities1,641 1,692 
Less: current portion187 127 
Total noncurrent regulatory liabilities$1,454 $1,565 
(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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – nuclear and other
$27 $22 (d)
Accrued pension and OPEB(c)
119 82 (g)
Vacation accrual
12 12 2023
Derivatives – natural gas supply contracts(f)
168 139 
Deferred pipeline integrity costs(c)
93 84 2025
Amounts due from customers
57 85 (e)(b)
Other35 33 (b)
Total regulatory assets511 457 
Less: current portion119 141 
Total noncurrent regulatory assets$392 $316 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$459 $510 (b)
Costs of removal(c)
573 572 (d)
Other 66 32 (e)(b)
Total regulatory liabilities1,098 1,114 
Less: current portion74 56 
Total noncurrent regulatory liabilities$1,024 $1,058 
(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)20222021a ReturnPeriod Ends
Regulatory Assets(a)
AROs – nuclear and other
$27 $22 (d)
Accrued pension and OPEB(c)
119 82 (g)
Vacation accrual
12 12 2023
Derivatives – natural gas supply contracts(f)
168 139 
Deferred pipeline integrity costs(c)
93 84 2025
Amounts due from customers
57 85 (e)(b)
Other35 33 (b)
Total regulatory assets511 457 
Less: current portion119 141 
Total noncurrent regulatory assets$392 $316 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$459 $510 (b)
Costs of removal(c)
573 572 (d)
Other 66 32 (e)(b)
Total regulatory liabilities1,098 1,114 
Less: current portion74 56 
Total noncurrent regulatory liabilities$1,024 $1,058 
(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.
v3.22.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2022
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 Other within Other Noncurrent Liabilities on the Consolidated Balance Sheets.
(in millions)December 31, 2022December 31, 2021
Reserves for Environmental Remediation
Duke Energy$84 $88 
Duke Energy Carolinas22 19 
Progress Energy19 23 
Duke Energy Progress8 11 
Duke Energy Florida11 11 
Duke Energy Ohio33 34 
Duke Energy Indiana3 4 
Piedmont7 9 
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, 2022
Contract
(in millions) Expiration20232024202520262027ThereafterTotal
Duke Energy Progress(a)
2028-2032$22 $21 $22 $18 $19 $27 $129 
Duke Energy Florida(b)
2024-2025300 267 91 — — — 658 
Duke Energy Ohio(c)
202455 36 — — — — 91 
(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. 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, 2022.
(in millions)20232024202520262027ThereafterTotal
Duke Energy Ohio$85 $101 $85 $56 $52 $616 $995 
Piedmont319 313 267 213 203 587 1,902 
v3.22.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Lease Costs and Cash Flows Information
The following tables present the components of lease expense.
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 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$245 $43 $155 $83 $72 $11 $18 $7 
Short-term lease expense(a)
5 — 2 1 1 — 2 — 
Variable lease expense(a)
41 17 22 10 12 — — 1 
Finance lease expense
Amortization of leased assets(b)
219 5 37 18 19 — 1 — 
Interest on lease liabilities(c)
55 33 48 42 6 — — — 
Total finance lease expense274 38 85 60 25 — 1 — 
Total lease expense$565 $98 $264 $154 $110 $11 $21 $8 
(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, 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(b)
$111 $10 $— $— $— $— $— $— 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$245 $25 $117 $62 $55 $2 $6 $5 
Operating cash flows from finance leases55 33 48 42 6 — — — 
Financing cash flows from finance leases219 5 37 18 19 — 1 — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating(b)
$182 $4 $99 $99 $— $— $— $— 
Finance322 — 322 322 — — — — 
(a)    No amounts were classified as investing cash flows from operating leases.
(b)    Does not include ROU assets recorded as a result of the adoption of the new lease standard.
Operating Lease Maturities
The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities.
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
2023$225 $23 $118 $64 $54 $2 $6 $4 
2024207 21 110 56 54 2 5 4 
2025175 14 96 42 54 2 5 4 
2026161 13 99 45 54 2 4 — 
2027134 9 73 46 27 2 4 — 
Thereafter322 37 253 209 44 15 45 1 
Total operating lease payments1,224 117 749 462 287 25 69 13 
Less: present value discount(169)(20)(107)(76)(31)(7)(18)— 
Total operating lease liabilities(a)
$1,055 $97 $642 $386 $256 $18 $51 $13 
(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, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
2023$198 $38 $103 $78 $25 $1 
2024143 38 88 79 9 1 
202576 38 85 80 5 1 
202677 38 86 81 5 1 
202774 38 82 81 1 1 
Thereafter584 427 555 555 — 23 
Total finance lease payments1,152 617 999 954 45 28 
Less: amounts representing interest(388)(333)(371)(367)(4)(19)
Total finance lease liabilities$764 $284 $628 $587 $41 $9 
Balance Sheet Amounts Recorded for Operating and Finance Leases
The following tables contain additional information related to leases.
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 
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,136 $92 $691 $389 $302 $19 $53 $16 
FinanceNet property, plant and equipment950 302 729 627 102 — 7 — 
Total lease assets$2,086 $394 $1,420 $1,016 $404 $19 $60 $16 
Liabilities
Current
OperatingOther current liabilities$184 $22 $94 $50 $44 $1 $4 $5 
FinanceCurrent maturities of long-term debt151 6 61 41 20 — — — 
Noncurrent
OperatingOperating lease liabilities940 78 606 350 256 18 50 14 
FinanceLong-Term Debt764 283 629 588 41 — 10 — 
Total lease liabilities$2,039 $389 $1,390 $1,029 $361 $19 $64 $19 
Supplemental Lease Information
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 %— %
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases89810716164
Finance leases1018131311— 24— 
Weighted average discount rate(a)
Operating leases3.5 %3.5 %3.6 %3.4 %3.8 %4.2 %4.1 %3.6 %
Finance leases7.3 %11.6 %9.0 %9.0 %8.2 %— %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.
v3.22.4
Debt and Credit Facilities (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt
The following tables summarize outstanding debt and includes debt attributable to the Commercial Renewables Disposal Groups. See Note 2 for further details.
 December 31, 2022
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2023-20824.20 %$29,585 $1,150 $2,600 $— $950 $1,330 $697 $3,390 
Secured debt, maturing 2023-20524.11 %5,632 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 2023-2051(b)
7.90 %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)
(383)(70)(132)(59)(70)(12)(22)(18)
Total debt 4.09 %$75,167 $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)
 (4,154)(1,018)(697)(369)(328)(475)(303)(45)
Total long-term debt(g)
$67,061 $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 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 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.
 December 31, 2021
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2022-20823.71 %$24,564 $1,150 $2,250 $— $150 $1,330 $700 $2,990 
Secured debt, maturing 2022-20522.50 %5,584 1,094 2,397 1,120 1,278 — — — 
First mortgage bonds, maturing 2022-2051(a)
3.87 %31,026 10,507 15,450 8,375 7,075 1,850 3,219 — 
Finance leases, maturing 2022-2051(b)
5.81 %915 289 690 629 61 — 10 — 
Tax-exempt bonds, maturing 2027-2041(c)
0.65 %360 — 48 48 — 27 285 — 
Notes payable and commercial paper(d)
0.35 %3,929 — — — — — — — 
Money pool/intercompany borrowings — 526 2,959 322 199 128 150 518 
Fair value hedge carrying value adjustment  4 4 — — — — — — 
Unamortized debt discount and premium, net(e)
 1,119 (21)(34)(19)(14)(27)(18)(6)
Unamortized debt issuance costs(f)
(362)(67)(128)(54)(68)(13)(23)(16)
Total debt 3.50 %$67,139 $13,482 $23,632 $10,421 $8,681 $3,295 $4,323 $3,486 
Short-term notes payable and commercial paper  (3,304)— — — — — — — 
Short-term money pool/intercompany borrowings — (226)(2,809)(172)(199)(103)— (518)
Current maturities of long-term debt(g)
 (3,387)(362)(1,082)(556)(76)— (84)— 
Total long-term debt(g)
$60,448 $12,894 $19,741 $9,693 $8,406 $3,192 $4,239 $2,968 
(a)    Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)    Duke Energy includes $256 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 $1,121 million and $100 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(f)    Duke Energy includes $29 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, 2022
Unsecured Debt
Duke Energy (Parent)April 20232.875 %$350 
Duke Energy (Parent)(a)
June 20233.469 %500 
Duke Energy (Parent)October 20233.950 %400 
Duke Energy Ohio(a)
October 20234.272 %150 
Duke Energy Indiana(a)
October 20234.118 %300 
First Mortgage Bonds
Duke Energy CarolinasMarch 20232.500 %500 
Duke Energy CarolinasMarch 20233.050 %500 
Duke Energy ProgressSeptember 20233.375 %300 
Duke Energy OhioSeptember 20233.800 %300 
Other(b)
854 
Current maturities of long-term debt$4,154 
(a)    Debt has a floating interest rate.
(b)    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, 2022 and 2021
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, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy(a)
CarolinasEnergyProgressFloridaOhioIndianaPiedmont
2023$4,154 $1,018 $697 $369 $328 $475 $303 $45 
20243,216 19 939 72 867 — 4 40 
20254,322 491 1,040 975 65 245 4 205 
20262,682 621 345 279 66 45 4 40 
20273,203 323 947 233 714 102 177 300 
Thereafter52,999 11,884 18,642 9,238 7,753 2,415 3,853 2,760 
Total long-term debt, including current maturities$70,576 $14,356 $22,610 $11,166 $9,793 $3,282 $4,345 $3,390 
(a)    Excludes $1,169 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, 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(d)
December 20255.000 %500 500 — — — — 
December 2022(d)
December 20275.000 %500 500 — — — — 
First Mortgage Bonds
March 2022(e)
March 20322.850 %500 — 500 — — — 
March 2022(e)
March 20523.550 %650 — 650 — — — 
March 2022(e)
April 20323.400 %500 — — 500 — — 
March 2022(e)
April 20524.000 %

400 — — 400 — — 
November 2022(f)
November 20525.950 %500 — — — 500 — 
Tax-exempt Bonds
June 2022(g)
September 20304.000 %168 168 — — — — 
June 2022(g)
November 20394.250 %234 234 — — — — 
September 2022(h)
October 20463.300 %200 — — 200 — 
September 2022(i)
October 20463.700 %210 — — 210 — 
September 2022(i)
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 outstanding intercompany 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 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)Proceeds will be used to repay a portion of commercial paper and for general corporate purposes.
(e)Debt issued to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework.
(f)Debt issued to repay a portion of outstanding intercompany short-term debt and for general company purposes.
(g)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.
(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, 2026.
(i)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.
Year Ended December 31, 2021
DukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaPiedmont
Unsecured Debt
March 2021a)
March 20312.500 %$350 $— $— $— $— $350 
June 2021(b)(c)
June 20230.299 %500 500 — — — — 
June 2021(c)
June 20312.550 %1,000 1,000 — — — — 
June 2021(c)
June 20413.300 %750 750 — — — — 
June 2021(c)
June 20513.500 %750 750 — — — — 
September 2021(d)
January 20823.250 %500 500 — — — — 
Secured Debt
November 2021(e)
July 20311.679 %100 — 100 — — — 
November 2021(e)
July 20412.617 %137 — 137 — — — 
November 2021(e)
July 20281.295 %221 — — 221 — — 
November 2021(e)
July 20372.387 %352 — — 352 — — 
November 2021(e)
July 20412.799 %197 — — 197 — — 
First Mortgage Bonds
April 2021(f)
April 20312.550 %550 — 550 — — — 
April 2021(f)
April 20513.450 %450 — 450 — — — 
August 2021(g)
August 20312.000 %650 — — 650 — — 
August 2021(g)
August 20512.900 %450 — — 450 — — 
December 2021(h)
December 20312.400 %650 — — — 650 — 
December 2021(h)
December 20513.000 %500 — — — 500 — 
Total issuances$8,107 $3,500 $1,237 $1,870 $1,150 $350 
(a)Debt issued to repay at maturity $160 million senior unsecured notes due June 2021, pay down short-term debt and for general corporate purposes.
(b)Debt has a floating interest rate.
(c)Debt issued to repay $1.75 billion of Duke Energy (Parent) debt maturities, to repay a portion of short-term debt and for general corporate purposes.
(d)Debt issued to repay in October 2021 $500 million of Duke Energy (Parent) unsecured notes. The interest rate resets every five years.
(e)Debt issued to finance the North Carolina portion of storm restoration expenditures related to Hurricane Florence, Hurricane Michael, Hurricane Dorian and Winter Storm Diego.
(f)Debt issued to repay at maturity $500 million first mortgage bonds due June 2021, pay down short-term debt and for general company purposes.
(g)Debt issued to repay at maturity a total of $600 million first mortgage bonds due September 2021, pay down short-term debt and for general company purposes.
(h)Proceeds were used to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework.
Schedule of Line of Credit Facilities
The table below includes the current borrowing sublimits and available capacity under these credit facilities.
 December 31, 2022
DukeDukeDukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergyEnergyEnergy
(in millions) Energy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Facility size(a)
$9,000 $2,375 $1,925 $800 $1,150 $900 $1,050 $800 
Reduction to backstop issuances
Commercial paper(b)
(3,685)463 (1,533)(389)(605)(522)(585)(514)
Outstanding letters of credit (40)(27)(4)(2)(7)— — — 
Tax-exempt bonds (81)— — — — — (81)— 
Available capacity $5,194 $2,811 $388 $409 $538 $378 $384 $286 
(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.
v3.22.4
Joint Ownership of Generating and Transmission Facilities (Tables)
 12 Months Ended
Dec. 31, 2022
Joint Ownership Of Generating And Transmission Facilities [Abstract]  
Schedule Joint Ownership of Generating and Transmission Facilities
The following table presents the Duke Energy Registrants' interest of jointly owned plant or facilities and amounts included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants and are included in the Electric Utilities and Infrastructure segment.
 December 31, 2022
Construction
OwnershipProperty, PlantAccumulatedWork in
(in millions except for ownership interest)Interestand EquipmentDepreciationProgress
Duke Energy Carolinas     
Catawba (units 1 and 2)(a)
19.25 %$1,047 $546 $32 
W.S. Lee CC(b)
87.27 %613 86 48 
Duke Energy Indiana     
Gibson (unit 5)(c)
50.05 %450 241 2 
Vermillion(d)
62.50 %182 113 1 
Transmission and local facilities(c)
Various6,718 1,510 157 
(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.
v3.22.4
Asset Retirement Obligations (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Decommissioning of nuclear power facilities(a)
$7,261 $3,009 $4,217 $3,948 $270 $— $— $— 
Closure of ash impoundments5,176 2,309 1,862 1,833 29 95 911 — 
Other291 64 102 42 59 59 40 26 
Total asset retirement obligation$12,728 $5,382 $6,181 $5,823 $358 $154 $951 $26 
Less: Current portion773 261 289 288 1 17 207 — 
Total noncurrent asset retirement obligation$11,955 $5,121 $5,892 $5,535 $357 $137 $744 $26 
(a)    Duke Energy amount includes purchase accounting adjustments related to the merger with Progress Energy.
Public Utilities General Disclosures
The following table summarizes information about the most recent site-specific nuclear decommissioning cost studies. Decommissioning costs are stated in 2018 or 2019 dollars, depending on the year of the cost study, and include costs to decommission plant components not subject to radioactive contamination.
Annual FundingDecommissioning
(in millions)
Requirement(a)
Costs(a)
Year of Cost Study
Duke Energy$10 $9,105 2018 or 2019
Duke Energy Carolinas(b)(c)
— 4,365 2018
Duke Energy Progress(d)
10 4,181 2019
Duke Energy Florida(e)
— 559 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 2018 was filed with the NCUC and PSCSC in 2019. A new funding study was also completed and filed with the NCUC and PSCSC in 2019.
(d)    Duke Energy Progress' site-specific nuclear decommissioning cost study completed in 2019 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.
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)20222021
Duke Energy$7,466 $8,933 
Duke Energy Carolinas4,208 5,068 
Duke Energy Progress3,258 3,865 
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, 2020$12,854 $5,350 $6,149 $5,635 $514 $111 $1,176 $20 
Accretion expense(a)
504 242 229 212 17 4 35 1 
Liabilities settled(b)
(613)(210)(324)(214)(110)(3)(77)— 
Liabilities incurred in the current year14 8 6 — 6 — — — 
Revisions in estimates of cash flows(c)
(159)(89)52 42 10 24 (147)1 
Balance at December 31, 202112,600 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, 2022$12,728 $5,382 $6,181 $5,823 $358 $154 $951 $26 
(a)    Substantially all accretion expense for the years ended December 31, 2022, and 2021, 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 2021 primarily relate to revised basin closure cost estimates, partially offset by increases related to new closure plan approvals, post closure maintenance and beneficiation costs.
v3.22.4
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2022
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,
 202220212020
Duke Energy 3.0 %2.9 %3.0 %
Duke Energy Carolinas 2.7 %2.7 %2.8 %
Progress Energy 3.2 %3.1 %3.2 %
Duke Energy Progress 3.0 %3.0 %3.1 %
Duke Energy Florida 3.5 %3.3 %3.3 %
Duke Energy Ohio 2.9 %2.9 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.5 %
Piedmont2.1 %2.1 %2.3 %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
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 
Plant – Nonregulated  
Other buildings and improvements 10369 — — — — — — — 
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 
Other156,090 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 – nonregulated(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.
December 31, 2021
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,145 $543 $957 $482 $475 $219 $122 $279 
Plant – Regulated
Electric generation, distribution and transmission 40120,855 44,910 53,447 32,417 21,030 6,573 15,925 — 
Natural gas transmission and distribution 5412,079 — — — — 3,347 — 8,732 
Other buildings and improvements 371,921 550 514 228 286 381 321 155 
Plant – Nonregulated
Other buildings and improvements 11401 — — — — — — — 
Nuclear fuel 3,181 1,856 1,325 1,325 — — — — 
Equipment 132,659 614 791 497 294 403 262 122 
Construction in process 5,979 2,078 2,297 954 1,343 515 460 262 
Other145,276 1,323 1,563 1,115 437 287 253 368 
Total property, plant and equipment(a)
154,496 51,874 60,894 37,018 23,865 11,725 17,343 9,918 
Total accumulated depreciation – regulated(b)(c)
(47,611)(17,854)(19,214)(13,387)(5,819)(3,106)(5,583)(1,899)
Total accumulated depreciation – nonregulated(d)
(1,493)— — — — — — — 
Facilities to be retired, net144 102 26 26 — 6 — 11 
Total net property, plant and equipment $105,536 $34,122 $41,706 $23,657 $18,046 $8,625 $11,760 $8,030 
(a)    Includes finance leases of $958 million, $335 million, $729 million, $627 million, $102 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 $178 million, $45 million and $133 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,799 million, $1,064 million, $735 million and $735 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 $9 million, $33 million, and $3 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 continues 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 is 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)202220212020
Duke Energy$118 $66 $96 
Duke Energy Carolinas50 29 28 
Progress Energy26 20 17 
Duke Energy Progress19 14 12 
Duke Energy Florida7 6 5 
Duke Energy Ohio14 20 26 
Duke Energy Indiana(a)
3 (17)10 
Piedmont4 9 8 
(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.
v3.22.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022, and 2021.
 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 accumulated amortization (8)— (1)— (1)— — (2)
Total intangible assets, net $265 $84 $132 $127 $5 $2 $2 $20 
 December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 204 73 131 131 — — — — 
Natural gas, coal and power contracts 24 — — — — — 24 — 
Other 28 — — — — — — — 
Total gross carrying amounts 264 73 136 133 3 — 26 — 
Accumulated amortization – natural gas, coal and power contracts (24)— — — — — (24)— 
Accumulated amortization – other (4)— — — — — — — 
Total accumulated amortization (28)— — — — — (24)— 
Total intangible assets, net $236 $73 $136 $133 $3 $— $2 $— 
v3.22.4
Investments in Unconsolidated Affiliates (Tables)
 12 Months Ended
Dec. 31, 2022
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,
 202220212020
Equity inEquity inEquity in
earningsearningsearnings
(in millions)Investments(losses)Investments(losses)(losses)
Electric Utilities and Infrastructure$99 $7 $104 $7 $(1)
Gas Utilities and Infrastructure240 21 231 8 (2,017)
Other116 85 122 47 13 
Total$455 $113 $457 $62 $(2,005)
ACP  
Investments In Unconsolidated Affiliates [Line Items]  
Investments in Equity Method Unconsolidated Affiliates
For the year ended December 31, 2020, Duke Energy's investment in ACP met the requirements of S-X Rule 4-08(g) to provide summarized financial information. The following table provides summary information for ACP as required under S-X Rule 1-02(bb) for the period of significance in Duke Energy's consolidated statements of operations. For the years ended December 31, 2022, and 2021, there were no investments that met the significance requirements.
Year Ended
December 31, 2020
Net revenues$— 
Operating loss(4,612)
Net loss(4,512)
Net loss attributable to Duke Energy$(2,121)
v3.22.4
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2022
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) 202220212020
Duke Energy Carolinas   
Corporate governance and shared service expenses(a)
$838 $894 $753 
Indemnification coverages(b)
28 24 20 
Joint Dispatch Agreement (JDA) revenue(c)
109 41 25 
JDA expense(c)
600 207 114 
Intercompany natural gas purchases(d)
12 11 15 
Progress Energy 
Corporate governance and shared service expenses(a)
$818 $856 $715 
Indemnification coverages(b)
43 41 36 
JDA revenue(c)
600 207 114 
JDA expense(c)
109 41 25 
Intercompany natural gas purchases(d)
76 75 75 
Duke Energy Progress 
Corporate governance and shared service expenses(a)
$469 $504 $420 
Indemnification coverages(b)
20 19 17 
JDA revenue(c)
600 207 114 
JDA expense(c)
109 41 25 
Intercompany natural gas purchases(d)
76 75 75 
Duke Energy Florida 
Corporate governance and shared service expenses(a)
$349 $352 $295 
Indemnification coverages(b)
23 22 19 
Duke Energy Ohio 
Corporate governance and shared service expenses(a)
$334 $329 $326 
Indemnification coverages(b)
5 4 4 
Duke Energy Indiana 
Corporate governance and shared service expenses(a)
$447 $409 $401 
Indemnification coverages(b)
8 8 8 
Piedmont
Corporate governance and shared service expenses(a)
$155 $139 $140 
Indemnification coverages(b)
3 3 3 
Intercompany natural gas sales(d)
88 86 90 
Natural gas storage and transportation costs(e)
23 22 23 
(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, 2022
Intercompany income tax receivable$— $95 $36 $17 $— $— $— 
Intercompany income tax payable37 — — — 17 18 38 
December 31, 2021
Intercompany income tax receivable$— $— $— $40 $19 $— $— 
Intercompany income tax payable62 — 84 — — 10 27 
v3.22.4
Derivatives and Hedging (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$500 $— $— $— $— $— $— 
Undesignated contracts2,979 1,250 800 500 300 300 27 
Total notional amount$3,479 $1,250 $800 $500 $300 $300 $27 
December 31, 2021
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressIndianaOhio
Cash flow hedges$2,415 $— $— $— $— $— 
Undesignated contracts1,177 350 500 500 300 27 
Total notional amount$3,592 $350 $500 $500 $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, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)14,086 — — — 1,820 12,266 — 
Natural gas (millions of Dth)909 307 292 292 — 11 299 
December 31, 2021
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)12,369 — — — 1,681 10,688 — 
Natural gas (millions of Dth)823 264 215 215 — 8 336 
The following table shows Duke Energy's outstanding derivatives related to foreign currency risk. There were no fair value hedges in 2021.
December 31, 2022
ReceiveFair Value
Pay NotionalNotionalReceive Hedge
Gain (Loss)(a)
(in millions)Pay Rate(in millions)RateMaturity Date(in millions)
Fair value hedges
$645 4.75 %600 euros3.10 %June 2028$(3)
537 5.31 %500 euros3.85 %June 2034(2)
Total notional amount$1,182 1,100 euros$(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, 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$228 $94 $41 $23 $17 $— $81 $— 
Noncurrent29 — — — — — — — 
Total Derivative Assets – Interest Rate Contracts$358 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets$836 $330 $248 $230 $17 $5 $110 $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
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 
Derivative AssetsDecember 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$199 $99 $72 $72 $— $2 $23 $3 
Noncurrent113 63 50 50 — — — — 
Total Derivative Assets – Commodity Contracts$312 $162 $122 $122 $— $2 $23 $3 
Interest Rate Contracts
Designated as Hedging Instruments
Current$3 $— $— $— $— $— $— $— 
Noncurrent3 — — — — — — — 
Not Designated as Hedging Instruments
Current$2 $— $2 $2 $— $— $— $— 
Total Derivative Assets – Interest Rate Contracts$8 $— $2 $2 $— $— $— $— 
Total Derivative Assets$320 $162 $124 $124 $— $2 $23 $3 
Derivative LiabilitiesDecember 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Not Designated as Hedging Instruments
Current$72 $18 $19 $5 $14 $— $13 $21 
Noncurrent132 9 5 5 — — — 118 
Total Derivative Liabilities – Commodity Contracts$204 $27 $24 $10 $14 $— $13 $139 
Interest Rate Contracts
Designated as Hedging Instruments
Current$75 $— $— $— $— $— $— $— 
Noncurrent21 — — — — — — — 
Not Designated as Hedging Instruments
Current10 8 — — — 1 — — 
Noncurrent18 — — — — 4 14 — 
Total Derivative Liabilities – Interest Rate Contracts$124 $8 $— $— $— $5 $14 $— 
Total Derivative Liabilities$328 $35 $24 $10 $14 $5 $27 $139 
Offsetting Assets
The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$594 $226 $140 $122 $17 $5 $110 $— 
Gross amounts offset(64)(33)(30)(30)— — — — 
Net amounts presented in Current Assets: Other$530 $193 $110 $92 $17 $5 $110 $— 
Noncurrent
Gross amounts recognized$242 $104 $108 $108 $— $— $— $— 
Gross amounts offset(97)(40)(57)(57)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$145 $64 $51 $51 $— $— $— $— 
Derivative AssetsDecember 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$204 $99 $74 $74 $— $2 $23 $3 
Gross amounts offset(25)(16)(9)(9)— — — — 
Net amounts presented in Current Assets: Other$179 $83 $65 $65 $— $2 $23 $3 
Noncurrent
Gross amounts recognized$116 $63 $50 $50 $— $— $— $— 
Gross amounts offset(23)(15)(8)(8)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$93 $48 $42 $42 $— $— $— $— 
Offsetting Liabilities
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$193 $96 $36 $18 $19 $— $16 $27 
Gross amounts offset(49)(15)(18)(18)— — (16)— 
Net amounts presented in Current Liabilities: Other$144 $81 $18 $— $19 $— $— $27 
Noncurrent
Gross amounts recognized$244 $31 $30 $30 $— $2 $— $141 
Gross amounts offset(59)(29)(30)(30)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$185 $2 $— $— $— $2 $— $141 
Derivative LiabilitiesDecember 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$157 $26 $19 $5 $14 $1 $13 $21 
Gross amounts offset(11)(6)(5)(5)— — — — 
Net amounts presented in Current Liabilities: Other$146 $20 $14 $— $14 $1 $13 $21 
Noncurrent
Gross amounts recognized$171 $9 $5 $5 $— $4 $14 $118 
Gross amounts offset(12)(8)(5)(5)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$159 $1 $— $— $— $4 $14 $118 
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, 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 
December 31, 2021
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFlorida
Aggregate fair value of derivatives in a net liability position$32 $18 $14 $10 $4 
Fair value of collateral already posted— — — — — 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered32 18 14 10 4 
v3.22.4
Investments in Debt and Equity Securities (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $215 $— $— $160 
Equity securities 3,658 105 5,871 4,905 43 7,350 
Corporate debt securities 1 85 641 39 6 829 
Municipal bonds — 39 330 14 1 314 
U.S. government bonds 2 112 1,423 31 12 1,568 
Other debt securities — 18 156 3 1 180 
Total NDTF Investments$3,661 $359 $8,636 $4,992 $63 $10,401 
Other Investments       
Cash and cash equivalents $— $— $22 $— $— $36 
Equity securities 21 16 128 36 — 156 
Corporate debt securities — 12 84 2 1 119 
Municipal bonds — 3 78 3 1 80 
U.S. government bonds — 2 62 — — 56 
Other debt securities — 3 41 — 1 45 
Total Other Investments$21 $36 $415 $41 $3 $492 
Total Investments $3,682 $395 $9,051 $5,033 $66 $10,893 
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, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$201 $724 $366 
Realized losses316 141 174 
AFS:
Realized gains28 56 96 
Realized losses151 54 51 
Investments Classified by Contractual Maturity Date
The table below summarizes the maturity date for debt securities.
December 31, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
Due in one year or less$137 $7 $89 $24 $65 $8 
Due after one through five years807 287 443 244 199 22 
Due after five through 10 years469 230 193 178 15 6 
Due after 10 years1,402 774 552 517 35 24 
Total$2,815 $1,298 $1,277 $963 $314 $60 
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, 2022 December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $117 $— $— $53 
Equity securities 2,147 51 3,367 2,887 19 4,265 
Corporate debt securities 1 62 401 24 4 506 
Municipal bonds — 10 64 2 — 48 
U.S. government bonds 1 51 685 16 3 712 
Other debt securities — 18 148 3 1 175 
Total NDTF Investments$2,149 $192 $4,782 $2,932 $27 $5,759 
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, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$124 $440 $64 
Realized losses177 96 99 
AFS:
Realized gains22 38 60 
Realized losses86 37 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, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $98 $— $— $107 
Equity securities 1,511 54 2,504 2,018 24 3,085 
Corporate debt securities — 23 240 15 2 323 
Municipal bonds — 29 266 12 1 266 
U.S. government bonds 1 61 738 15 9 856 
Other debt securities — — 8 — — 5 
Total NDTF Investments$1,512 $167 $3,854 $2,060 $36 $4,642 
Other Investments       
Cash and cash equivalents $— $— $11 $— $— $20 
Municipal bonds — — 25 2 — 26 
Total Other Investments$— $— $36 $2 $— $46 
Total Investments $1,512 $167 $3,890 $2,062 $36 $4,688 
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, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$77 $284 $302 
Realized losses139 45 75 
AFS:
Realized gains6 16 24 
Realized losses48 14 13 
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, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $56 $— $— $94 
Equity securities 1,431 54 2,411 1,915 23 2,970 
Corporate debt securities — 22 230 15 2 282 
Municipal bonds — 29 266 12 1 266 
U.S. government bonds 1 37 460 15 3 472 
Other debt securities — — 7 — — 5 
Total NDTF Investments$1,432 $142 $3,430 $1,957 $29 $4,089 
Other Investments       
Cash and cash equivalents $— $— $9 $— $— $16 
Total Other Investments$— $— $9 $— $— $16 
Total Investments $1,432 $142 $3,439 $1,957 $29 $4,105 
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, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$76 $283 $52 
Realized losses136 44 59 
AFS:
Realized gains6 15 24 
Realized losses44 13 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, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF        
Cash and cash equivalents $— $— $42 $— $— $13 
Equity securities 80 — 93 103 1 115 
Corporate debt securities — 1 10 — — 41 
U.S. government bonds — 24 278 — 6 384 
Other debt securities — — 1 — — — 
Total NDTF Investments(a)
$80 $25 $424 $103 $7 $553 
Other Investments    
Cash and cash equivalents $— $— $1 $— $— $3 
Municipal bonds — — 25 2 — 26 
Total Other Investments$— $— $26 $2 $— $29 
Total Investments $80 $25 $450 $105 $7 $582 
(a)    During the years ended December 31, 2022, and 2021, Duke Energy Florida continued to receive reimbursements from the NDTF for costs related to ongoing decommissioning activity of the Crystal River Unit 3.
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2022, 2021 and 2020, were as follows.
Years Ended December 31,
(in millions)202220212020
FV-NI:
Realized gains$1 $1 $250 
Realized losses3 1 16 
AFS:
Realized gains— 1 — 
Realized losses4 1 — 
Duke Energy Indiana  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
 December 31, 2022December 31, 2021
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
Investments       
Cash and cash equivalents$— $— $1 $— $— $— 
Equity securities 2 16 79 6 — 97 
Corporate debt securities — 1 8 — — 6 
Municipal bonds — 3 45 1 1 46 
U.S. government bonds — — 7 — — 12 
Total Investments $2 $20 $140 $7 $1 $161 
v3.22.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2022
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, 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 assets836 1 801 34 — 
Total assets9,887 7,030 2,781 34 42 
Derivative liabilities(437)(16)(421)— — 
Net assets (liabilities)$9,450 $7,014 $2,360 $34 $42 
 December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$160 $160 $— $— $— 
NDTF equity securities7,350 7,300 — — 50 
NDTF debt securities2,891 967 1,924 — — 
Other equity securities156 156 — — — 
Other debt securities300 45 255 — — 
Other cash and cash equivalents36 36 — — — 
Derivative assets320 3 293 24 — 
Total assets11,213 8,667 2,472 24 50 
Derivative liabilities(327)(13)(314)— — 
Net assets (liabilities)$10,886 $8,654 $2,158 $24 $50 
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) 20222021
Balance at beginning of period$24 $8 
Purchases, sales, issuances and settlements:
Purchases78 21 
Settlements(36)(20)
Total gains (losses) included on the Consolidated Balance Sheet(32)15 
Balance at end of period$34 $24 
Quantitative Information Table - Level 3
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
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 
December 31, 2021
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$2 RTO auction pricingFTR price – per MWh$0.06 –$1.79 $0.96 
Duke Energy Indiana
FTRs22 RTO auction pricingFTR price – per MWh(1.18)–13.11 2.68 
Duke Energy
Total Level 3 derivatives$24 
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. The following disclosures include debt attributable to the Commercial Renewables Disposal Groups. See Note 2 for further details. 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, 2022December 31, 2021
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$71,215 $63,454 $63,835 $69,683 
Duke Energy Carolinas14,266 12,943 13,275 15,101 
Progress Energy22,439 20,467 20,823 23,751 
Duke Energy Progress11,087 9,689 10,249 11,252 
Duke Energy Florida9,709 8,991 8,482 9,772 
Duke Energy Ohio3,245 2,927 3,193 3,570 
Duke Energy Indiana4,307 3,913 4,323 5,067 
Piedmont3,363 2,940 2,968 3,278 
(a)    Book value of long-term debt includes $1.17 billion as of December 31, 2022, and $1.25 billion as of December 31, 2021, 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, 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 
 December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$53 $53 $— $— 
NDTF equity securities4,265 4,215 — 50 
NDTF debt securities1,441 339 1,102 — 
Derivative assets162 — 162 — 
Total assets5,921 4,607 1,264 50 
Derivative liabilities(35)— (35)— 
Net assets$5,886 $4,607 $1,229 $50 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$98 $98 $— $107 $107 $— 
NDTF equity securities2,504 2,504 — 3,085 3,085 — 
NDTF debt securities1,252 457 795 1,450 628 822 
Other debt securities25 — 25 26 — 26 
Other cash and cash equivalents11 11 — 20 20 — 
Derivative assets248 — 248 124 — 124 
Total assets4,138 3,070 1,068 4,812 3,840 972 
Derivative liabilities(66)— (66)(24)— (24)
Net assets$4,072 $3,070 $1,002 $4,788 $3,840 $948 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$56 $56 $— $94 $94 $— 
NDTF equity securities2,411 2,411 — 2,970 2,970 — 
NDTF debt securities963 225 738 1,025 289 736 
Other cash and cash equivalents9 9 — 16 16 — 
Derivative assets230 — 230 124 — 124 
Total assets3,669 2,701 968 4,229 3,369 860 
Derivative liabilities(48)— (48)(10)— (10)
Net assets$3,621 $2,701 $920 $4,219 $3,369 $850 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$42 $42 $— $13 $13 $— 
NDTF equity securities93 93 — 115 115 — 
NDTF debt securities289 232 57 425 339 86 
Other debt securities25 — 25 26 — 26 
Other cash and cash equivalents1 1 — 3 3 — 
Derivative assets17 — 17 — — — 
Total assets467 368 99 582 470 112 
Derivative liabilities(19)— (19)(14)— (14)
Net assets$448 $368 $80 $568 $470 $98 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$79 $79 $— $— $97 $97 $— $— 
Other debt securities60 — 60 — 64 — 64 — 
Other cash equivalents1 1 — — — — — — 
Derivative assets110 — 81 29 23 1 — 22 
Total assets250 80 141 29 184 98 64 22 
Derivative liabilities(16)(16)— — (27)(13)(14)— 
Net assets$234 $64 $141 $29 $157 $85 $50 $22 
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)20222021
Balance at beginning of period$22 $6 
Purchases, sales, issuances and settlements:
Purchases74 18 
Settlements(32)(16)
Total (losses) gains included on the Consolidated Balance Sheet(35)14 
Balance at end of period$29 $22 
Piedmont  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$— $— $— $3 $3 $— 
Derivative liabilities(168)— (168)(139)— (139)
Net (liabilities) assets$(168)$— $(168)$(136)$3 $(139)
v3.22.4
Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2022
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 2023
Credit facility amount$350 $500 $400 $250 
Amounts borrowed at December 31, 2022350 471 400 250 
Amounts borrowed at December 31, 2021350 475 350 250 
Restricted Receivables at December 31, 2022917 928 793 490 
Restricted Receivables at December 31, 2021587 844 574 427 
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)20222021
Receivables of VIEs$6 $5 
Regulatory Assets: Current55 54 
Current Assets: Other41 39 
Other Noncurrent Assets: Regulatory assets826 883 
Current Liabilities: Other9 9 
Current maturities of long-term debt56 56 
Long-Term Debt890 946 
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)2022202120222021
Regulatory Assets: Current$12 $12 $39 $39 
Current Assets: Other8 — 29 — 
Other Noncurrent Assets: Regulatory assets208 220 681 720 
Other Noncurrent Assets: Other1 1 2 4 
Current maturities of long-term debt10 5 34 15 
Current Liabilities: Other3 1 8 2 
Long-Term Debt219 228 714 747 
Non-consolidated VIEs  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following tables summarize the impact of non-consolidated VIEs on the Consolidated Balance Sheets.
 December 31, 2022
 Duke Energy DukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $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 $317 
 December 31, 2021
 Duke EnergyDukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $79 $97 
Investments in equity method unconsolidated affiliates15 — — 
Other noncurrent assets61 — — 
Total assets$76 $79 $97 
Other current liabilities47 — — 
Other noncurrent liabilities54 — — 
Total liabilities$101 $— $— 
Net (liabilities) assets$(25)$79 $97 
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
 2022202120222021
Anticipated credit loss ratio0.5 %0.5 %0.3 %0.3 %
Discount rate2.7 %1.1 %2.7 %1.1 %
Receivable turnover rate13.5 %13.5 %11.3 %11.3 %
The following table shows the gross and net receivables sold.
 Duke Energy OhioDuke Energy Indiana
December 31,December 31,
(in millions)2022202120222021
Receivables sold$423 $269 $508 $328 
Less: Retained interests198 79 317 97 
Net receivables sold$225 $190 $191 $231 
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)202220212020202220212020
Sales      
Receivables sold$2,562 $2,023 $1,905 $3,744 $2,909 $2,631 
Loss recognized on sale18 10 10 26 13 12 
Cash flows  
Cash proceeds from receivables sold2,424 2,018 1,875 3,498 2,909 2,586 
Collection fees received1 1 1 2 1 1 
Return received on retained interests10 4 4 15 6 5 
v3.22.4
Revenue (Tables)
 12 Months Ended
Dec. 31, 2022
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)20232024202520262027ThereafterTotal
Progress Energy$61 $66 $7 $7 $7 $36 $184 
Duke Energy Progress8 8 — — — — 16 
Duke Energy Florida53 58 7 7 7 36 168 
Duke Energy Indiana11 16 17 15 7 5 71 
Estimated remaining performance obligations are as follows:
Remaining Performance Obligations
(in millions)20232024202520262027ThereafterTotal
Piedmont$68 $62 $61 $51 $49 $241 $532 
Disaggregation of Revenue Disaggregated revenues are presented as follows:
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.
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$9,806 $2,997 $5,017 $2,059 $2,958 $726 $1,064 $— 
General6,194 2,233 2,779 1,312 1,467 442 740 — 
Industrial2,859 1,137 901 649 252 137 683 — 
Wholesale1,864 380 1,228 1,034 194 32 224 — 
Other revenues914 281 596 294 302 82 72 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$21,637 $7,028 $10,521 $5,348 $5,173 $1,419 $2,783 $— 
Gas Utilities and Infrastructure
Residential$930 $— $— $— $— $300 $— $630 
Commercial446 — — — — 117 — 329 
Industrial127 — — — — 17 — 110 
Power Generation— — — — — — — 34 
Other revenues87 — — — — 17 — 70 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,590 $— $— $— $— $451 $— $1,173 
Other
Revenue from contracts with customers$26 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$23,253 $7,028 $10,521 $5,348 $5,173 $1,870 $2,783 $1,173 
Other revenue sources(a)
$113 $(13)$106 $74 $15 $(12)$12 $124 
Total revenues$23,366 $7,015 $10,627 $5,422 $5,188 $1,858 $2,795 $1,297 
(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 based on adoption of the new standard.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2019$76 $10 $16 $8 $7 $4 $3 $6 
Cumulative Change in Accounting Principle5 1 2 1 1 — — 1 
Write-Offs(58)(13)(23)(8)(14)— — (6)
Credit Loss Expense75 13 29 9 20 — — 11 
Other Adjustments48 12 13 13 — — — — 
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 
Financing Receivable, Past Due
The aging of trade receivables is presented in the table below.
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 
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Receivables(a)(b)
$922 $316 $266 $193 $73 $4 $27 $106 
Current1,941 592 716 405 311 42 50 202 
1-30 days past due288 77 128 44 82 4 5 12 
31-60 days past due98 30 49 21 28 1 10 2 
61-90 days past due118 32 48 28 20 23 5 4 
91+ days past due161 84 37 9 28 24 6 3 
Deferred Payment Arrangements(c)
115 55 45 22 23 2 — 4 
Trade and Other Receivables$3,643 $1,186 $1,289 $722 $565 $100 $103 $333 
(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 $148 million and $260 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2022, and $82 million and $121 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2021.
(c)    Due to ongoing financial hardships impacting customers, Duke Energy has permitted customers to defer payment of past-due amounts through installment payment plans.
v3.22.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2022
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)202220212020
Net Income available to Duke Energy common stockholders$2,444 $3,802 $1,270 
Less: (Loss) Income from discontinued operations attributable to Duke Energy common stockholders(1,215)200 289 
Accumulated preferred stock dividends adjustment— — 1 
Less: Impact of participating securities2 3 2 
Income from continuing operations available to Duke Energy common stockholders$3,657 $3,599 $980 
Loss from discontinued operations, net of tax$(1,323)$(144)$(7)
Add: Loss attributable to NCI108 344 296 
(Loss) Income from discontinued operations attributable to Duke Energy common stockholders$(1,215)$200 $289 
Weighted average common shares outstanding – basic770 769 737 
Equity forwards— — 1 
Weighted average common shares outstanding – diluted770 769 738 
EPS from continuing operations available to Duke Energy common stockholders
Basic and Diluted$4.74 $4.68 $1.33 
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders
   Basic and Diluted$(1.57)$0.26 $0.39 
Potentially dilutive items excluded from the calculation(a)
2 2 2 
Dividends declared per common share$3.98 $3.90 $3.82 
Dividends declared on Series A preferred stock per depositary share(b)
$1.437 $1.437 $1.437 
Dividends declared on Series B preferred stock per share(c)
$48.750 $48.750 $49.292 
(a)    Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met.
(b)    5.75% Series A Cumulative Redeemable Perpetual Preferred Stock dividends are payable quarterly in arrears on the 16th day of March, June, September and December. The preferred stock has a $25 liquidation preference per depositary share.
(c)    4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock dividends are payable semiannually in arrears on the 16th day of March and September. The preferred stock has a $1,000 liquidation preference per share. 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%.
v3.22.4
Severance (Tables)
 12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
Schedule of Severance Expense
The following table presents the direct and allocated severance and related charges accrued for approximately 233 employees in 2022, 290 employees in 2021 and 30 employees in 2020, 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, 2022(a)(b)
$65 $40 $20 $17 $3 $1 $2 $2 
Year Ended December 31, 2021(c)(d)
69 33 26 20 6 2 3 2 
Year Ended December 31, 2020(e)(f)
(85)(58)(28)(31)3 — — — 
(a)    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.
(b)    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.
(c)    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.
(d)    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.
(e)    Includes unamortized deferred severance charges of approximately $(86) million, $(57) million, $(29) million and $(29) million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(f)    Includes adjustments associated with 2018 severance charges of approximately $(6) million, $(2) million, $(3) million and $(2) million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, 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, 2020$11 $2 $3 $1 $2 $— $1 $— 
Provision/Adjustments36 1 1 1 — — — — 
Cash Reductions(8)(1)(2)(1)(1)— (1)— 
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 
v3.22.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
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)202220212020
Duke Energy$74 $64 $61 
Duke Energy Carolinas27 23 22 
Progress Energy27 24 23 
Duke Energy Progress17 15 15 
Duke Energy Florida10 9 9 
Duke Energy Ohio5 5 4 
Duke Energy Indiana7 6 6 
Piedmont4 3 3 
Schedule of Stock-Based Compensation Expense
Duke Energy's pretax stock-based compensation costs, the tax benefit associated with stock-based compensation expense and stock-based compensation costs capitalized are included in the following table.
 Years Ended December 31,
(in millions)202220212020
RSU awards$58 $49 $46 
Performance awards42 39 38 
Pretax stock-based compensation cost$100 $88 $84 
Stock-based compensation costs capitalized5 5 5 
Stock-based compensation expense$95 $83 $79 
Tax benefit associated with stock-based compensation expense$21 $19 $18 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity The following table includes information related to RSU awards.
 Years Ended December 31,
 202220212020
Shares granted (in thousands) 654 673 498 
Fair value (in millions)$64 $59 $50 
The following table summarizes information about RSU awards outstanding.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 20211,043 $92 
Granted654 98 
Vested(527)93 
Forfeited(73)94 
Outstanding at December 31, 20221,097 95 
RSU awards expected to vest1,056 95 
Schedule of Performance Awards
The following table includes information related to stock-based performance awards.
 Years Ended December 31,
 202220212020
Shares granted assuming target performance (in thousands)408 380 319 
Fair value (in millions)$40 $33 $34 
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, 2021952 $93 
Granted408 99 
Vested(297)86 
Forfeited(30)96 
Outstanding at December 31, 20221,033 97 
Stock-based performance awards expected to vest1,006 97 
v3.22.4
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2022
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 years ended December 31, 2021 and 2020.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Contributions Made:
2022$58 $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, 2022, and the actual asset allocations for the RCBP assets.
Actual Allocation at
TargetDecember 31,
Allocation20222021
Global equity securities45 %49 %24 %
Global private equity securities2 %2 %1 %
Debt securities35 %30 %62 %
Return seeking debt securities7 %7 %4 %
Hedge funds4 %6 %3 %
Real estate and cash7 %6 %6 %
Total100 %100 %100 %
The following table includes the target asset allocations by asset class at December 31, 2022, and the actual asset allocations for the DELPP assets.
Actual Allocation at
TargetDecember 31,
Allocation20222021
Global equity securities14 %14 %24 %
Global private equity securities1 %— %1 %
Debt securities80 %80 %62 %
Return seeking debt securities2 %2 %4 %
Hedge funds1 %2 %3 %
Real estate and cash2 %2 %6 %
Total100 %100 %100 %
The following table presents target and actual asset allocations for the VEBA trusts at December 31, 2022.
Actual Allocation at
TargetDecember 31,
Allocation20222021
U.S. equity securities30 %12 %19 %
Non-U.S. equity securities5 %5 %5 %
Real estate1 %3 %3 %
Debt securities45 %11 %18 %
Cash19 %69 %55 %
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, 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 securities6 — 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.
December 31, 2021
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,575 $2,547 $— $— $28 
Corporate debt securities4,189 — 4,189 — — 
Short-term investment funds382 272 110 — — 
Partnership interests95 — — 95 — 
Hedge funds216 — — — 216 
U.S. government securities1,618 — 1,618 — — 
Governments bonds – foreign78 — 78 — — 
Cash144 144 — — — 
Government and commercial mortgage backed securities 2 — 2 — — 
Net pending transactions and other investments53 12 41 — — 
Total assets(a)
$9,352 $2,975 $6,038 $95 $244 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 26%, 32%, 15%, 17%, 5%, 7% and 4%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2021. 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, 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 
December 31, 2021
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$14 $14 
Real estate2 2 
Equity securities18 18 
Debt securities11 11 
Total assets$45 $45 
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)20222021
Balance at January 1$95 $— 
Sales(18)— 
Total gains and other, net(8)— 
Transfer of Level 3 assets from other classifications(7)95 
Balance at December 31$62 $95 
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,
2022$246 $76 $65 $43 $22 $6 $12 $13 
2021229 70 60 39 21 5 12 11 
2020213 67 57 38 19 5 11 13 
Pension Plan | Qualified Plan  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Pension Costs
Year Ended December 31, 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 charges9 5 2 2 1 — — 1 
Net periodic pension costs(a)(b)
$(49)$(8)$(29)$(6)$(22)$(4)$(1)$(5)
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$165 $51 $48 $27 $21 $5 $9 $6 
Interest cost on projected benefit obligation269 62 85 38 46 15 22 9 
Expected return on plan assets(572)(145)(190)(87)(101)(28)(42)(21)
Amortization of actuarial loss128 28 41 18 23 6 12 9 
Amortization of prior service credit(32)(8)(3)(2)(1)— (2)(9)
Amortization of settlement charges(c)
18 9 7 6 1 — 1 1 
Net periodic pension costs(a)(b)
$(24)$(3)$(12)$— $(11)$(2)$— $(5)
(a)    Duke Energy amounts exclude $3 million, $3 million and $4 million for the years ended December 2022, 2021 and 2020, 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 $2 million for the years ended December 2022, 2021 and 2020, 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, 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 service credit— — — — — — — — 
Amortization of prior year actuarial losses37 — 2 — — — — — 
Net amount recognized in accumulated other comprehensive income$30 $— $1 $— $— $— $— $— 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net decrease$(261)$(57)$(128)$(31)$(97)$(17)$(19)$(5)
Accumulated other comprehensive loss (income)
Deferred income tax expense$1 $— $— $— $— $— $— $— 
Amortization of prior year service credit1 — — — — — — — 
Amortization of prior year actuarial losses(8)— (1)— — — — — 
Net amount recognized in accumulated other comprehensive income$(6)$— $(1)$— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Net Amount Recognized
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 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $8,634 $1,988 $2,715 $1,193 $1,507 $502 $715 $293 
Service cost168 54 48 28 20 5 9 6 
Interest cost220 51 70 30 39 13 18 7 
Actuarial gain(200)(42)(108)(18)(89)(10)(10)(5)
Benefits paid(615)(148)(161)(80)(81)(50)(52)(28)
Transfers— — (4)— (4)(10)— — 
Obligation at measurement date$8,207 $1,903 $2,560 $1,153 $1,392 $450 $680 $273 
Accumulated Benefit Obligation at measurement date$8,144 $1,904 $2,529 $1,154 $1,361 $439 $672 $274 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$9,337 $2,381 $3,049 $1,422 $1,605 $472 $684 $343 
Actual return on plan assets513 132 169 79 90 26 37 19 
Benefits paid(615)(148)(161)(80)(81)(50)(52)(28)
Transfers— — (4)— (4)(10)— — 
Plan assets at measurement date$9,235 $2,365 $3,053 $1,421 $1,610 $438 $669 $334 
Funded status of plan$1,028 $462 $493 $268 $218 $(12)$(11)$61 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
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 $— $— $— $— $— 
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$1,071 $462 $494 $268 $219 $74 $100 $61 
Noncurrent pension liability(b)
$43 $— $1 $— $1 $86 $111 $— 
Net asset (liability) recognized$1,028 $462 $493 $268 $218 $(12)$(11)$61 
Regulatory assets$1,649 $324 $563 $252 $311 $93 $190 $75 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$(20)$— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial loss92 — 1 — — — — — 
Net amounts recognized in accumulated other comprehensive loss$71 $— $1 $— $— $— $— $— 
(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, 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 
December 31, 2021
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$153 $284 
Accumulated benefit obligation143 275 
Fair value of plan assets67 173 
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions or range of assumptions used for pension benefit accounting.
December 31,
202220212020
Benefit Obligations
Discount rate5.60%2.90%2.60%
Interest crediting rate4.35%4.00%4.00%
Salary increase 3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Net Periodic Benefit Cost
Discount rate2.90 %–5.70%2.60%3.30%
Interest crediting rate4.00%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%6.50%6.85%
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2023$661 $186 $183 $99 $83 $32 $45 $19 
2024635 176 180 95 84 31 45 18 
2025629 174 183 97 85 31 44 16 
2026607 164 180 91 87 30 44 16 
2027592 156 177 89 87 29 43 15 
2028-20322,581 628 804 372 427 135 205 71 
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, 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)
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$4 $1 $1 $— $— $— $1 $— 
Interest cost on accumulated post-retirement benefit obligation23 5 10 5 4 1 2 1 
Expected return on plan assets(13)(8)— — — — — (2)
Amortization of actuarial loss2 — 1 — 1 — 4 — 
Amortization of prior service credit(14)(4)(3)(1)(2)(1)(1)(2)
Net periodic post-retirement benefit costs(a)(b)
$2 $(6)$9 $4 $3 $— $6 $(3)
(a)    Duke Energy amounts exclude $4 million, $5 million and $6 million for the years ended December 2022, 2021 and 2020, 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 $1 million for the years ended December 2022, 2021 and 2020, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase$(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 $— $— $— $— $— $— $— 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase$(15)$— $(18)$(9)$(9)$4 $(4)$— 
Regulatory liabilities, net increase$23 $12 $— $— $— $4 $1 $2 
Accumulated other comprehensive (income) loss
Amortization of prior year actuarial gain$(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, 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 
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$709 $174 $299 $166 $130 $27 $61 $30 
Service cost4 1 1 — — — 1 — 
Interest cost18 4 7 4 3 1 1 1 
Plan participants' contributions14 3 5 3 2 1 2 — 
Actuarial gains(47)(14)(20)(10)(10)(1)(2)(2)
Benefits paid(73)(19)(29)(16)(13)(3)(9)(2)
Accumulated post-retirement benefit obligation at measurement date$625 $149 $263 $147 $112 $25 $54 $27 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$237 $139 $(1)$(2)$(1)$9 $7 $37 
Actual return on plan assets15 9 — — — 1 — 3 
Benefits paid(73)(19)(29)(16)(13)(3)(9)(2)
Employer contributions18 3 24 13 10 1 6 1 
Plan participants' contributions14 3 5 3 2 1 2 — 
Plan assets at measurement date$211 $135 $(1)$(2)$(2)$9 $6 $39 
Funded status of plan$(414)$(14)$(264)$(149)$(114)$(16)$(48)$12 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$— $— $— $— $— $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)$— $— $— $— $— $— $— 
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$12 $— $— $— $— $1 $— $12 
Current post-retirement liability(a)
9 — 5 3 2 1 — — 
Noncurrent post-retirement liability(b)
417 14 259 146 112 16 48 — 
Net liability (asset) recognized$414 $14 $264 $149 $114 $16 $48 $(12)
Regulatory assets$129 $— $126 $79 $47 $4 $28 $— 
Regulatory liabilities$162 $44 $— $— $— $21 $63 $5 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial gain(14)— — — — — — — 
Net amounts recognized in accumulated other comprehensive income$(12)$— $— $— $— $— $— $— 
(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,
202220212020
Benefit Obligations
Discount rate5.60 %2.90 %2.60 %
Net Periodic Benefit Cost
Discount rate2.90 %2.60 %3.30 %
Expected long-term rate of return on plan assets6.50 %6.50 %6.85 %
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2023$68 $16 $25 $14 $11 $3 $7 $2 
202449 13 18 10 7 3 4 2 
202545 12 16 9 7 2 3 2 
202641 11 15 9 6 2 3 2 
202738 10 14 8 6 2 3 2 
2028-2032158 41 61 36 25 8 9 9 
Assumed Health Care Cost Trend Rate
Assumed Health Care Cost Trend Rate
December 31,
20222021
Health care cost trend rate assumed for next year6.50 %6.25 %
Rate to which the cost trend is assumed to decline (the ultimate trend rate)4.75 %4.75 %
Year that rate reaches ultimate trend2030-20322028
v3.22.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
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, 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.
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $(281)$314 $280 $181 $148 $10 $48 $(27)
State (3)35 29 17 24 1 7 (8)
Foreign 1 — — — — — — — 
Total current income taxes (283)349 309 198 172 11 55 (35)
Deferred income taxes        
Federal 222 (171)(167)(180)1 30 12 60 
State (98)(86)(24)(49)25 2 17 (7)
Total deferred income taxes(a)
124 (257)(191)(229)26 32 29 53 
ITC amortization (10)(4)(5)(5)— — — — 
Income tax (benefit) expense from continuing operations (169)88 113 (36)198 43 84 18 
Tax benefit from discontinued operations (65)— — — — — — — 
Total income tax (benefit) expense included in Consolidated Statements of Operations $(234)$88 $113 $(36)$198 $43 $84 $18 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $20 million at Duke Energy Carolinas, $3 million at Duke Energy Progress, $8 million at Duke Energy Indiana, and $11 million at Piedmont. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $39 million at Progress Energy, $30 million at Duke Energy Florida and $189 million at Duke Energy.
Schedule of Income before Income Tax, Domestic and Foreign
Duke Energy Income from Continuing Operations before Income Taxes
 Years Ended December 31,
(in millions)202220212020
Domestic$3,991 $3,947 $907 
Foreign87 44 13 
Income from continuing operations before income taxes$4,078 $3,991 $920 
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, 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 excess deferred income tax(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 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 excess deferred income tax(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 the fourth quarter of 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.
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$193 $219 $243 $80 $204 $62 $103 $61 
State income tax, net of federal income tax effect(80)(40)4 (25)39 2 19 (12)
Amortization of excess deferred income tax(276)(82)(118)(68)(49)(20)(36)(21)
AFUDC equity income(48)(13)(9)(6)(3)(2)(4)(10)
AFUDC equity depreciation103 19 10 5 5 1 4 — 
Other tax credits(37)(13)(16)(14)(2)(1)(3)(2)
Tax true up(12)(3)1 (5)5 — (1)1 
Other items, net(12)1 (2)(3)(1)1 2 1 
Income tax (benefit) expense from continuing operations$(169)$88 $113 $(36)$198 $43 $84 $18 
Effective tax rate(18.4)%8.4 %9.7 %(9.5)%20.4 %14.6 %17.1 %6.2 %
Schedule of Deferred Tax Assets and Liabilities
Net Deferred Income Tax Liability Components
The following tables include deferred income tax assets and liabilities related to the Commercial Renewables Disposal Groups. See Note 2 for further details.
 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.
 December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $347 $121 $101 $60 $40 $19 $7 $18 
Lease obligations 346 91 197 121 76 4 16 4 
Pension, post-retirement and other employee benefits 207 (36)30 17 7 11 20 (8)
Progress Energy merger purchase accounting adjustments(a)
340 — — — — — — — 
Tax credits and NOL carryforwards 3,784 349 497 160 306 13 195 29 
Regulatory liabilities and deferred credits— 11 — — — 16 — 6 
Investments and other assets— — — — — 5 6 — 
Other 85 12 12 7 4 7 2 8 
Valuation allowance (518)— — — — — — — 
Total deferred income tax assets 4,591 548 837 365 433 75 246 57 
Investments and other assets (2,428)(1,205)(742)(610)(135)— — (39)
Accelerated depreciation rates (10,391)(2,977)(3,891)(1,546)(2,382)(1,125)(1,496)(833)
Regulatory assets and deferred debits, net (1,151)— (768)(417)(350)— (53)— 
Total deferred income tax liabilities (13,970)(4,182)(5,401)(2,573)(2,867)(1,125)(1,549)(872)
Net deferred income tax liabilities $(9,379)$(3,634)$(4,564)$(2,208)$(2,434)$(1,050)$(1,303)$(815)
(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, 2022
(in millions)AmountExpiration Year
General Business Credits$2,473 2027—2042
Federal NOL carryforwards(a) (e)
306 2024—Indefinite
Charitable contribution carryforwards18 2024—2027
State carryforwards and credits(b) (e)
394 2023—Indefinite
Foreign NOL carryforwards(c)
12 2027—2037
Foreign Tax Credits(d)
1,223 2024—2028
Total tax credits and NOL carryforwards $4,426    
(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 $109 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 $391 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.
Schedule of Unrecognized Tax Benefits Roll Forward
The following tables present changes to unrecognized tax benefits.
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$51 $13 $15 $10 $4 $1 $2 $4 
Gross decreases – tax positions in prior periods— — — — — — — — 
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 the fourth quarter of 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.
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$126 $8 $9 $6 $3 $1 $1 $4 
Gross decreases – tax positions in prior periods(2)— — — — — — — 
Gross increases – current period tax positions4 2 1 — — — — — 
Reduction due to lapse of statute of limitations(3)— — — — — — (3)
Total changes(1)2 1 — — — — (3)
Unrecognized tax benefits – December 31$125 $10 $10 $6 $3 $1 $1 $1 
Summary of Income Tax Contingencies
The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits at December 31, 2022. None of Duke Energy Registrants anticipates a material increase or decrease in unrecognized tax benefits within the next 12 months.
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Amount that if recognized, would affect the
effective tax rate or regulatory liability(a)
$59 $17 $18 $13 $5 $1 $2 $8 
(a)    The Duke Energy Registrants are unable to estimate the specific amounts that would affect the ETR versus the regulatory liability.
v3.22.4
Other Income and Expenses, Net (Tables)
 12 Months Ended
Dec. 31, 2022
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, 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, other 134 107 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 
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $30 $4 $8 $2 $6 $4 $6 $17 
AFUDC equity 154 62 42 29 12 7 23 19 
Post in-service equity returns 27 17 8 8 — 1 1 — 
Nonoperating income, other240 94 71 36 35 4 7 15 
Other income and expense, net$451 $177 $129 $75 $53 $16 $37 $51 
v3.22.4
Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2022
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
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 stockholders818 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 
2021     
Operating revenues $6,032 $5,638 $6,834 $6,117 $24,621 
Operating income 1,466 1,198 1,726 1,110 5,500 
Income from continuing operations 967 723 1,333 700 3,723 
Loss from discontinued operations, net of tax(26)(25)(57)(36)(144)
Net income941 698 1,276 664 3,579 
Net income available to Duke Energy Corporation common stockholders953 751 1,366 732 3,802 
Earnings per share:      
Income from continuing operations available to Duke Energy Corporation common stockholders      
Basic and diluted$1.22 $0.90 $1.69 $0.86 $4.68 
Income from discontinued operations attributable to Duke Energy Corporation common stockholders 
Basic and diluted$0.03 $0.06 $0.10 $0.07 $0.26 
Net income available to Duke Energy Corporation common stockholders      
Basic and diluted$1.25 $0.96 $1.79 $0.93 $4.94 
Schedule Of Unusual Or Infrequently Occurring Items
v3.22.4
Summary of Significant Accounting Policies (Other Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Accrued compensation $ 778 $ 915
Duke Energy Carolinas | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Accrued compensation 247 277
Duke Energy Progress | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Customer deposits 106 144
Other accrued liabilities 124 163
Duke Energy Florida | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Customer deposits 200 200
Other accrued liabilities 61 89
Duke Energy Ohio | Current Assets    
Organization And Basis Of Presentation [Line Items]    
Gas Storage 57 25
Duke Energy Ohio | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Collateral liabilities 53 57
Duke Energy Indiana | Current Assets    
Organization And Basis Of Presentation [Line Items]    
Mark-to-market transactions $ 110 $ 23
v3.22.4
Summary of Significant Accounting Policies (Schedule of Cash and Cash Equivalents) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 409 $ 341
Other 173 170
Other Noncurrent Assets    
Other 11 6
Total cash, cash equivalents and restricted cash 593 517
Duke Energy Carolinas    
Current Assets    
Cash and cash equivalents 44 7
Other 8  
Other Noncurrent Assets    
Other 1 1
Total cash, cash equivalents and restricted cash 53 8
Progress Energy    
Current Assets    
Cash and cash equivalents 108 70
Other 74 39
Other Noncurrent Assets    
Other 2 4
Total cash, cash equivalents and restricted cash 184 113
Duke Energy Progress    
Current Assets    
Cash and cash equivalents 49 35
Other 28  
Other Noncurrent Assets    
Other 2 4
Total cash, cash equivalents and restricted cash 79 39
Duke Energy Florida    
Current Assets    
Cash and cash equivalents 45 23
Other 41 39
Other Noncurrent Assets    
Total cash, cash equivalents and restricted cash $ 86 $ 62
v3.22.4
Summary of Significant Accounting Policies (Inventory) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Public Utilities, Inventory [Line Items]    
Materials and supplies $ 2,604 $ 2,309
Coal 620 486
Natural gas, oil and other 360 316
Total inventory 3,584 3,111
Duke Energy Carolinas    
Public Utilities, Inventory [Line Items]    
Materials and supplies 876 793
Coal 253 195
Natural gas, oil and other 35 38
Total inventory 1,164 1,026
Progress Energy    
Public Utilities, Inventory [Line Items]    
Materials and supplies 1,232 1,067
Coal 190 167
Natural gas, oil and other 157 164
Total inventory 1,579 1,398
Duke Energy Progress    
Public Utilities, Inventory [Line Items]    
Materials and supplies 819 729
Coal 99 94
Natural gas, oil and other 88 98
Total inventory 1,006 921
Duke Energy Florida    
Public Utilities, Inventory [Line Items]    
Materials and supplies 413 338
Coal 91 73
Natural gas, oil and other 69 66
Total inventory 573 477
Duke Energy Ohio    
Public Utilities, Inventory [Line Items]    
Materials and supplies 105 80
Coal 34 19
Natural gas, oil and other 5 17
Total inventory 144 116
Duke Energy Indiana    
Public Utilities, Inventory [Line Items]    
Materials and supplies 342 311
Coal 144 105
Natural gas, oil and other 3 2
Total inventory 489 418
Piedmont    
Public Utilities, Inventory [Line Items]    
Materials and supplies 12 14
Natural gas, oil and other 160 95
Total inventory $ 172 $ 109
v3.22.4
Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate 3.00% 2.90% 3.00%
Duke Energy Carolinas      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate 2.70% 2.70% 2.80%
Progress Energy      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate 3.20% 3.10% 3.20%
Duke Energy Progress      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate 3.00% 3.00% 3.10%
Duke Energy Florida      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate 3.50% 3.30% 3.30%
Duke Energy Ohio      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate 2.90% 2.90% 2.90%
Duke Energy Indiana      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate 3.60% 3.60% 3.50%
Piedmont      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate 2.10% 2.10% 2.30%
v3.22.4
Summary of Significant Accounting Policies (Accounts Payable and Supplier Invoices Sold) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Payables [Line Items]    
Outstanding Accounts Payable Balance Sold $ 87 $ 19
Suppliers Invoices Settled Through The Program 301 122
Duke Energy Carolinas    
Payables [Line Items]    
Outstanding Accounts Payable Balance Sold 6  
Suppliers Invoices Settled Through The Program 29  
Progress Energy    
Payables [Line Items]    
Outstanding Accounts Payable Balance Sold 19 9
Suppliers Invoices Settled Through The Program 85 10
Duke Energy Progress    
Payables [Line Items]    
Outstanding Accounts Payable Balance Sold 8  
Suppliers Invoices Settled Through The Program 26  
Duke Energy Florida    
Payables [Line Items]    
Outstanding Accounts Payable Balance Sold 11 9
Suppliers Invoices Settled Through The Program 59 10
Duke Energy Ohio    
Payables [Line Items]    
Outstanding Accounts Payable Balance Sold 5 6
Suppliers Invoices Settled Through The Program 38 12
Duke Energy Indiana    
Payables [Line Items]    
Suppliers Invoices Settled Through The Program 2  
Piedmont    
Payables [Line Items]    
Outstanding Accounts Payable Balance Sold 57 4
Suppliers Invoices Settled Through The Program $ 147 $ 100
v3.22.4
Summary of Significant Accounting Policies (Excise Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Organization And Basis Of Presentation [Line Items]      
Excise taxes $ 449 $ 420 $ 415
Duke Energy Carolinas      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 47 44 43
Progress Energy      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 290 250 249
Duke Energy Progress      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 25 22 26
Duke Energy Florida      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 265 228 223
Duke Energy Ohio      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 104 102 96
Duke Energy Indiana      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 7 23 25
Piedmont      
Organization And Basis Of Presentation [Line Items]      
Excise taxes $ 1 $ 1 $ 2
v3.22.4
Summary of Significant Accounting Policies (Expected Reserve for Credit Losses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Total pretax impact to Retained Earnings $ 49,184 $ 51,853 $ 51,136 $ 47,951
Accounting Standards Update [Extensible List] ASU 2016-13      
Cumulative Effect, Period of Adoption, Adjustment | Revision of Prior Period, Accounting Standards Update, Adjustment | Retained Earnings        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Total pretax impact to Retained Earnings $ 120      
Duke Energy Carolinas | Cumulative Effect, Period of Adoption, Adjustment | Revision of Prior Period, Accounting Standards Update, Adjustment | Retained Earnings        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Total pretax impact to Retained Earnings 16      
Progress Energy        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Total pretax impact to Retained Earnings 16,241 21,406 17,148 15,593
Progress Energy | Cumulative Effect, Period of Adoption, Adjustment | Revision of Prior Period, Accounting Standards Update, Adjustment | Retained Earnings        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Total pretax impact to Retained Earnings 2      
Duke Energy Progress | Cumulative Effect, Period of Adoption, Adjustment | Revision of Prior Period, Accounting Standards Update, Adjustment | Retained Earnings        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Total pretax impact to Retained Earnings 1      
Duke Energy Florida | Cumulative Effect, Period of Adoption, Adjustment | Revision of Prior Period, Accounting Standards Update, Adjustment | Retained Earnings        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Total pretax impact to Retained Earnings 1      
Piedmont        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Total pretax impact to Retained Earnings 2,715 $ 3,673 $ 3,349 $ 2,443
Piedmont | Cumulative Effect, Period of Adoption, Adjustment | Revision of Prior Period, Accounting Standards Update, Adjustment | Retained Earnings        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Total pretax impact to Retained Earnings $ 1      
v3.22.4
Summary of Significant Accounting Policies (Other Noncurrent Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Offsetting Assets [Line Items]    
Other (including amounts related to VIEs) $ 3,400 $ 3,632
Renewable Energy Program    
Offsetting Assets [Line Items]    
Other (including amounts related to VIEs) $ 150  
v3.22.4
Dispositions (Duke Energy Discontinued Operations) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
(Loss) Income from discontinued operations, net of tax $ (1,293) $ 3 $ (18) $ (15) $ (36) $ (57) $ (25) $ (26) $ (1,323) $ (144) $ (7)
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                 (1,323) (144) (7)
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                 (1,349) (151) (14)
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                 $ 26 $ 7 $ 7
v3.22.4
Dispositions (Narrative) (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Jul. 01, 2023
USD ($)
Sep. 08, 2021
USD ($)
Jan. 28, 2021
USD ($)
closing
Dec. 31, 2022
USD ($)
Nov. 30, 2022
Units
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Long-Term Debt       $ 67,061   $ 67,061 $ 60,448
Sale of noncontrolling interest [1]           1,034 999
Noncontrolling Interests              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Sale of noncontrolling interest [1]           $ 569 454
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 $ 2,050 $ 1,030      
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   $ 6      
Sale of noncontrolling interest   $ 545   492      
Commercial Renewables Disposal Groups | Discontinued Operations, Held-for-sale              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Number of disposal groups | Units         2    
Noncontrolling interest balance       1,600   $ 1,600  
Gain on disposal       72   72  
Contract adjustments       95   95  
Receivables, net       107   107 $ 87
Commercial Renewables Disposal Groups | Discontinued Operations, Held-for-sale | Forecast              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Loss on extinguishment of debt $ 100            
Commercial Renewables Disposal Groups | Discontinued Operations, Held-for-sale | Duke              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Gain on disposal       54   54  
Commercial Renewables Disposal Groups | Discontinued Operations, Held-for-sale | Duke | Forecast              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Loss on extinguishment of debt $ 55            
Commercial Renewables Disposal Groups | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Duke              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Long-Term Debt       $ 1,500   $ 1,500  
[1] Relates primarily to the sale of a noncontrolling interest in Duke Energy Indiana. See Note 2 for additional discussion.
v3.22.4
Dispositions (Balance Sheet) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current Assets Held for Sale    
Total current assets held for sale $ 262 $ 232
Noncurrent Assets Held for Sale    
Total other noncurrent assets held for sale 5,634 6,695
Current Liabilities Associated with Assets Held for Sale    
Total current liabilities associated with assets held for sale 259 167
Noncurrent Liabilities Associated with Assets Held for Sale    
Total other noncurrent liabilities associated with assets held for sale 739 612
Discontinued Operations, Held-for-sale | Commercial Renewables Disposal Groups    
Current Assets Held for Sale    
Cash and cash equivalents 10 3
Receivables, net 107 87
Inventory 88 86
Other 57 56
Total current assets held for sale 262 232
Noncurrent Assets Held for Sale    
Cost 6,444 7,323
Accumulated depreciation and amortization (1,651) (1,452)
Net property, plant and equipment 4,793 5,871
Operating lease right-of-use assets, net 140 130
Investments in equity method unconsolidated affiliates 522 513
Other 179 181
Total other noncurrent assets held for sale 841 824
Total Assets Held for Sale 5,896 6,927
Current Liabilities Associated with Assets Held for Sale    
Accounts payable 122 98
Taxes accrued 17 18
Other 120 51
Total current liabilities associated with assets held for sale 259 167
Noncurrent Liabilities Associated with Assets Held for Sale    
Operating lease liabilities 150 134
Asset retirement obligations 190 175
Other 399 303
Total other noncurrent liabilities associated with assets held for sale 739 612
Total Liabilities Associated with Assets Held for Sale $ 998 $ 779
v3.22.4
Dispositions (Income Statement) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Income tax benefit                 $ (503) $ (76) $ (65)
Loss from discontinued operations $ (1,293) $ 3 $ (18) $ (15) $ (36) $ (57) $ (25) $ (26) (1,323) (144) (7)
Add: Net loss attributable to noncontrolling interest included in discontinued operations                 108 344 296
Net income from discontinued operations attributable to Duke Energy Corporation                 (1,215) 200 289
Discontinued Operations, Held-for-sale                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Loss from discontinued operations                 (1,323) (144) (7)
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                 465 476 502
Operation, maintenance and other                 337 343 292
Depreciation and amortization                 201 227 200
Property and other taxes                 36 34 26
Other income and expenses, net                 2 (27) 1
Interest expense                 10 72 66
Loss on disposal                 1,748 0 0
Loss before income taxes                 (1,865) (227) (81)
Income tax benefit                 (516) (76) (67)
Loss from discontinued operations                 (1,349) (151) (14)
Add: Net loss attributable to noncontrolling interest included in discontinued operations                 108 344 296
Net income from discontinued operations attributable to Duke Energy Corporation                 $ (1,241) $ 193 $ 282
v3.22.4
Dispositions (Cash Flow Statement) (Details) - Commercial Renewables Disposal Groups - Discontinued Operations, Held-for-sale - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Operating Activities $ 213 $ 62 $ 466
Investing Activities $ (802) $ (542) $ (1,102)
v3.22.4
Business Segments (Business Segment Data) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 6,117 $ 6,834 $ 5,638 $ 6,032 $ 28,768 $ 24,621 $ 23,366
Interest expense                 2,439 2,207 2,097
Depreciation and amortization                 5,086 4,762 4,504
Equity in earnings (losses) of unconsolidated affiliates                 113 62 (2,005)
Income tax expense (benefit) from continuing operations                 300 268 (169)
Segment income (loss)                 3,659 3,602 981
Less noncontrolling interest                 95 329 295
Add back preferred stock dividend                 106 106 107
Net income from discontinued operations attributable to Duke Energy Corporation                 (1,215) 200 289
Loss from discontinued operations, net of tax (1,293) 3 (18) (15) (36) (57) (25) (26) (1,323) (144) (7)
Net income (658) $ 1,413 $ 880 $ 820 664 $ 1,276 $ 698 $ 941 2,455 3,579 1,082
Net loss attributable to Duke Energy                 2,550 3,908 1,377
Capital expenditures                 11,419 9,752 10,421
Segment assets 178,086       169,587       178,086 169,587 162,388
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                 4,078 3,991 920
Nonregulated electric and other                 285 294 263
Regulated electric                 (25,759) (22,319) (21,461)
Income (loss) attributable to noncontrolling interest                 (95) (329) (295)
Duke Energy Indiana                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 3,922 3,174 2,795
Interest expense                 189 196 161
Depreciation and amortization                 645 615 569
Income tax expense (benefit) from continuing operations                 (24) 107 84
Net loss attributable to Duke Energy                 137 481 408
Segment assets 14,654       14,488       14,654 14,488  
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                 113 588 492
Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 2,514 2,037 1,858
Interest expense                 129 111 102
Depreciation and amortization                 324 307 278
Income tax expense (benefit) from continuing operations                 (21) 30 43
Segment income (loss)                 302 204 252
Net loss attributable to Duke Energy                 302 204 252
Capital expenditures                 850 848 834
Segment assets 11,506       10,774       11,506 10,774 10,025
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                 (10) 25  
Total income (loss) from continuing operations before income taxes                 281 234 295
Regulated electric                 (1,798) (1,493) (1,405)
Duke Energy Carolinas                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 7,857 7,102 7,015
Interest expense                 557 538 487
Depreciation and amortization                 1,526 1,468 1,462
Income tax expense (benefit) from continuing operations                 126 51 88
Net loss attributable to Duke Energy                 1,600 1,336 956
Segment assets 50,346       47,162       50,346 47,162  
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                 1,726 1,387 1,044
Duke Energy Progress                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 6,753 5,780 5,422
Interest expense                 354 306 269
Depreciation and amortization                 1,187 1,097 1,116
Income tax expense (benefit) from continuing operations                 158 75 (36)
Net loss attributable to Duke Energy                 1,008 991 415
Segment assets 36,752       35,383       36,752 35,383  
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                 1,166 1,066 379
Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 (218) (207) (201)
Interest expense                 (86) (10) (15)
Depreciation and amortization                 (27) (28) (29)
Segment income (loss)                 (1) (3) (4)
Segment assets                     0
Eliminations | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Segment assets (176)       (29)       (176) (29) (2)
Electric Utilities and Infrastructure                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 25,990 22,570 21,687
Equity in earnings (losses) of unconsolidated affiliates                 7 7 (1)
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                     948
Reduction of prior year impairment                     152
Shareholder contribution expense                     16
Electric Utilities and Infrastructure | 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 | Gas Pipeline Assets                      
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                     5
Electric Utilities and Infrastructure | Clemson University Combined Heat and Power Plant                      
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                     19
Electric Utilities and Infrastructure | Operating Segments                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 26,024 22,603 21,720
Interest expense                 1,565 1,432 1,320
Depreciation and amortization                 4,550 4,251 4,068
Equity in earnings (losses) of unconsolidated affiliates                 7 7 (1)
Income tax expense (benefit) from continuing operations                 536 494 340
Segment income (loss)                 3,929 3,850 2,669
Capital expenditures                 8,985 7,653 7,629
Segment assets 152,104       143,841       152,104 143,841 138,225
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 1,798 1,493 1,405
Interest expense                 86 87 85
Depreciation and amortization                 221 217 200
Income tax expense (benefit) from continuing operations                 24 15 19
Segment income (loss)                 189 141 162
Capital expenditures                 488 486 548
Segment assets 7,504       6,882       7,504 6,882 6,615
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas | Impairment Charges                      
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                   160  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas | Other Income and Expense                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   77  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas | Operation, Maintenance and Other                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   5  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas | Regulated Operating Revenue, Electric, Non-Nuclear                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   13  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas | Interest Expense                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   3  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas | Depreciation and amortization                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   6  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress | Impairment Charges                      
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                   42  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress | Other Income and Expense                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   34  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress | Operation, Maintenance and Other                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   7  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress | Regulated Operating Revenue, Electric, Non-Nuclear                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   15  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress | Interest Expense                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   5  
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress | Depreciation and amortization                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   1  
Electric Utilities and Infrastructure | Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 34 33 33
Gas Utilities and Infrastructure                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 2,748 2,022 1,653
Equity in earnings (losses) of unconsolidated affiliates                 21 8 (2,017)
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                     7
Gas Utilities and Infrastructure | After-tax impairment charge                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Equity in earnings (losses) of unconsolidated affiliates                     2,100
Gas Utilities and Infrastructure | Operating Segments                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 2,840 2,112 1,748
Interest expense                 182 142 135
Depreciation and amortization                 327 303 258
Equity in earnings (losses) of unconsolidated affiliates                 20 8 (2,017)
Income tax expense (benefit) from continuing operations                 8 55 (349)
Segment income (loss)                 468 396 (1,266)
Capital expenditures                 1,295 1,271 1,309
Segment assets 16,411       15,179       16,411 15,179 13,849
Gas Utilities and Infrastructure | Operating Segments | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 716 544 453
Interest expense                 43 24 17
Depreciation and amortization                 103 90 78
Income tax expense (benefit) from continuing operations                 (43) 19 26
Segment income (loss)                 121 78 96
Capital expenditures                 362 362 286
Segment assets 4,164       3,892       4,164 3,892 3,380
Gas Utilities and Infrastructure | Operating Segments | Gas Pipeline Assets                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Equity in earnings (losses) of unconsolidated affiliates                   20  
Gas Utilities and Infrastructure | Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 92 90 95
Total Reportable Segments                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 28,738 24,592 23,340
Total Reportable Segments | Operating Segments                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 28,864 24,715 23,468
Interest expense                 1,747 1,574 1,455
Depreciation and amortization                 4,877 4,554 4,326
Equity in earnings (losses) of unconsolidated affiliates                 27 15 (2,018)
Income tax expense (benefit) from continuing operations                 544 549 (9)
Segment income (loss)                 4,397 4,246 1,403
Capital expenditures                 10,280 8,924 8,938
Segment assets 168,515       159,020       168,515 159,020 152,074
Total Reportable Segments | Operating Segments | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 2,514 2,037 1,858
Interest expense                 129 111 102
Depreciation and amortization                 324 307 278
Income tax expense (benefit) from continuing operations                 (19) 34 45
Segment income (loss)                 310 219 258
Capital expenditures                 850 848 834
Segment assets 11,668       10,774       11,668 10,774 9,995
Total Reportable Segments | Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 126 123 128
Other                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 30 29 26
Segment Reporting Information Assets [Abstract]                      
Severance charge reversal                     98
Other | Operating Segments | Impairment Charges                      
Segment Reporting Information Assets [Abstract]                      
Impairment of assets and other charges                 72 133  
Other | Operating Segments | Operation, Maintenance and Other                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                 71 42  
Other | Operating Segments | Depreciation and amortization                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                   17  
Other | Operating Segments | Litigation Expense                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                 25    
Other | Operating Segments | Gain (Loss) on Disposition of Assets                      
Segment Reporting Information Assets [Abstract]                      
Total income (loss) from continuing operations before income taxes                 7    
Other | Other                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 122 113 99
Interest expense                 778 643 657
Depreciation and amortization                 236 236 207
Equity in earnings (losses) of unconsolidated affiliates                 86 47 13
Income tax expense (benefit) from continuing operations                 (244) (281) (160)
Segment income (loss)                 (737) (641) (418)
Capital expenditures                 1,139 828 1,483
Segment assets 9,571       10,567       9,571 10,567 10,314
Other | Other | Duke Energy Ohio                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Income tax expense (benefit) from continuing operations                 (2) (4) (2)
Segment income (loss)                 (8) (15) (6)
Segment assets $ 14       $ 29       14 29 32
Other | Eliminations                      
Segment Reporting Information, Profit (Loss) [Abstract]                      
Revenues                 $ 92 $ 84 $ 73
v3.22.4
Business Segments (Narrative) (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Sep. 30, 2021
USD ($)
Jun. 30, 2021
USD ($)
Mar. 31, 2021
USD ($)
Dec. 31, 2022
USD ($)
Segment
segment
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Segment Reporting Information [Line Items]                      
Revenues $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 6,117 $ 6,834 $ 5,638 $ 6,032 $ 28,768 $ 24,621 $ 23,366
Number of reportable segments | Segment                 2    
Duke Energy Progress                      
Segment Reporting Information [Line Items]                      
Revenues                 $ 6,753 5,780 5,422
Number of reportable segments | segment                 1    
Duke Energy Ohio                      
Segment Reporting Information [Line Items]                      
Revenues                 $ 2,514 $ 2,037 $ 1,858
Number of reportable segments | segment                 2    
Revenues | Duke Energy Progress | Customer Concentration | One customer                      
Segment Reporting Information [Line Items]                      
Revenues                 $ 684    
v3.22.4
Business Segments (Schedule of Revenue, By Products and Services) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Segment Reporting Information [Line Items]                      
Revenues $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 6,117 $ 6,834 $ 5,638 $ 6,032 $ 28,768 $ 24,621 $ 23,366
Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Revenues                 25,990 22,570 21,687
Gas Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Revenues                 2,748 2,022 1,653
Total Reportable Segments                      
Segment Reporting Information [Line Items]                      
Revenues                 28,738 24,592 23,340
Retail Electric                      
Segment Reporting Information [Line Items]                      
Revenues                 22,036 19,410 18,898
Retail Electric | Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Revenues                 22,036 19,410 18,898
Wholesale Electric                      
Segment Reporting Information [Line Items]                      
Revenues                 2,882 2,216 1,878
Wholesale Electric | Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Revenues                 2,882 2,216 1,878
Retail Natural Gas                      
Segment Reporting Information [Line Items]                      
Revenues                 2,535 2,025 1,691
Retail Natural Gas | Gas Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Revenues                 2,535 2,025 1,691
Other                      
Segment Reporting Information [Line Items]                      
Revenues                 1,411 1,064 1,001
Other | Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Revenues                 1,106 977 944
Other | Gas Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Revenues                 305 87 57
Operating Segments | Electric Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Revenues                 26,024 22,603 21,720
Operating Segments | Gas Utilities and Infrastructure                      
Segment Reporting Information [Line Items]                      
Revenues                 2,840 2,112 1,748
Operating Segments | Total Reportable Segments                      
Segment Reporting Information [Line Items]                      
Revenues                 $ 28,864 $ 24,715 $ 23,468
v3.22.4
Regulatory Matters (Schedule of Regulatory Assets and Liabilities) (Details) - USD ($)
$ in Millions
Jan. 31, 2023
Dec. 31, 2022
Aug. 31, 2022
Jul. 31, 2022
May 31, 2022
Apr. 30, 2022
Dec. 31, 2021
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   $ 18,130         $ 14,637
Less: current portion   3,485         2,150
Total noncurrent regulatory assets   14,645         12,487
Total regulatory liabilities   15,048         17,363
Less: current portion   1,466         1,211
Total noncurrent regulatory liabilities   13,582         16,152
Net regulatory liability related to income taxes              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   6,462         7,199
Costs of removal              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   5,151         6,150
AROs – nuclear and other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   1,038         2,053
Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   683         364
Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   211         213
DOE Settlement              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   154          
Provision for rate refunds              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   78         274
Amounts to be refunded to customers              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   45          
Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   1,226         1,110
AROs – coal ash              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   3,205         3,408
AROs – nuclear and other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   945         684
Deferred Fuel Costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   3,866         1,253
Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   2,336         2,017
Storm cost securitized balance, net              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   940         991
Nuclear asset securitized balance, net              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   881         937
Debt fair value adjustment              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   829         884
Storm cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   666         213
Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   378         348
Post-in-service carrying costs (PISCC) and deferred operating expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   342         356
Retired generation facilities              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   316         357
Deferred asset – Lee and Harris COLA              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   288         317
Advanced metering infrastructure (AMI)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   283         311
Customer connect project              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   271         242
Costs of removal regulatory asset              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   221         107
Vacation accrual              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   222         221
Incremental COVID-19 expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   210         87
CEP deferral              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   190         161
Demand side management (DSM)/Energy efficiency (EE)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   189         235
Derivatives – natural gas supply contracts              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   168         139
NCEMPA deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   157         165
Nuclear deferral              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   154         120
Deferred pipeline integrity costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   121         108
COR settlement              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   120         123
Deferred coal ash handling system costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   92         90
Qualifying facility contract buyouts              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   81         94
Amounts due from customers              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   57         85
Propane caverns              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   26          
Deferred severance charges              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   21         54
Manufactured gas plant (MGP)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets             104
Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   555         426
Progress Energy              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   8,979         6,939
Less: current portion   1,833         1,030
Total noncurrent regulatory assets   7,146         5,909
Total regulatory liabilities   5,329         6,044
Less: current portion   576         478
Total noncurrent regulatory liabilities   4,753         5,566
Progress Energy | Net regulatory liability related to income taxes              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   2,192         2,394
Progress Energy | Costs of removal              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   2,269         2,955
Progress Energy | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   252         155
Progress Energy | DOE Settlement              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   154          
Progress Energy | Provision for rate refunds              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   28         87
Progress Energy | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   434         453
Progress Energy | AROs – coal ash              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   1,429         1,399
Progress Energy | AROs – nuclear and other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   884         620
Progress Energy | Deferred Fuel Costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   2,060         718
Progress Energy | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   759         725
Progress Energy | Storm cost securitized balance, net              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   720         759
Progress Energy | Nuclear asset securitized balance, net              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   881         937
Progress Energy | Storm cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   559         189
Progress Energy | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   128         137
Progress Energy | Post-in-service carrying costs (PISCC) and deferred operating expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   42         47
Progress Energy | Retired generation facilities              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   243         265
Progress Energy | Deferred asset – Lee and Harris COLA              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   21         21
Progress Energy | Advanced metering infrastructure (AMI)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   111         130
Progress Energy | Customer connect project              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   136         124
Progress Energy | Costs of removal regulatory asset              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   221         107
Progress Energy | Vacation accrual              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   43         42
Progress Energy | Incremental COVID-19 expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   78         28
Progress Energy | Demand side management (DSM)/Energy efficiency (EE)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   188         230
Progress Energy | NCEMPA deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   157         165
Progress Energy | Nuclear deferral              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   64         42
Progress Energy | COR settlement              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   32         32
Progress Energy | Deferred coal ash handling system costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   25         23
Progress Energy | Qualifying facility contract buyouts              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   81         94
Progress Energy | Deferred severance charges              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   7         18
Progress Energy | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   110         87
Duke Energy Carolinas              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   5,388         3,479
Less: current portion   1,095         544
Total noncurrent regulatory assets   4,293         2,935
Total regulatory liabilities   6,313         7,685
Less: current portion   530         487
Total noncurrent regulatory liabilities   5,783         7,198
Duke Energy Carolinas | Net regulatory liability related to income taxes              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   2,475         2,785
Duke Energy Carolinas | Costs of removal              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   1,769         2,009
Duke Energy Carolinas | AROs – nuclear and other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   1,038         2,053
Duke Energy Carolinas | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   350         209
Duke Energy Carolinas | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   44         44
Duke Energy Carolinas | Provision for rate refunds              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   50         124
Duke Energy Carolinas | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   587         461
Duke Energy Carolinas | AROs – coal ash              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   1,391         1,227
Duke Energy Carolinas | Deferred Fuel Costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   1,614         339
Duke Energy Carolinas | Deferred Fuel Costs | NCUC              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets         $ 327    
Duke Energy Carolinas | Deferred Fuel Costs | PSCSC              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets       $ 79      
Duke Energy Carolinas | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   614         365
Duke Energy Carolinas | Storm cost securitized balance, net              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   220         232
Duke Energy Carolinas | Storm cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   93         22
Duke Energy Carolinas | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   228         171
Duke Energy Carolinas | Post-in-service carrying costs (PISCC) and deferred operating expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   30         31
Duke Energy Carolinas | Retired generation facilities              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   39         54
Duke Energy Carolinas | Deferred asset – Lee and Harris COLA              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   267         296
Duke Energy Carolinas | Advanced metering infrastructure (AMI)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   139         140
Duke Energy Carolinas | Customer connect project              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   62         66
Duke Energy Carolinas | Vacation accrual              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   84         83
Duke Energy Carolinas | Incremental COVID-19 expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   127         51
Duke Energy Carolinas | Nuclear deferral              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   90         78
Duke Energy Carolinas | COR settlement              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   88         91
Duke Energy Carolinas | Deferred coal ash handling system costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   67         67
Duke Energy Carolinas | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   235         166
Duke Energy Progress              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   5,414         4,651
Less: current portion   690         533
Total noncurrent regulatory assets   4,724         4,118
Total regulatory liabilities   4,452         5,249
Less: current portion   332         381
Total noncurrent regulatory liabilities   4,120         4,868
Duke Energy Progress | Net regulatory liability related to income taxes              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   1,559         1,695
Duke Energy Progress | Costs of removal              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   2,269         2,955
Duke Energy Progress | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   252         155
Duke Energy Progress | Provision for rate refunds              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   28         87
Duke Energy Progress | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   344         357
Duke Energy Progress | AROs – coal ash              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   1,418         1,389
Duke Energy Progress | AROs – nuclear and other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   869         613
Duke Energy Progress | Deferred Fuel Costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   705         303
Duke Energy Progress | Deferred Fuel Costs | NCUC              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets     $ 251        
Duke Energy Progress | Deferred Fuel Costs | PSCSC              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets           $ 44  
Duke Energy Progress | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   417         351
Duke Energy Progress | Storm cost securitized balance, net              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   720         759
Duke Energy Progress | Storm cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   234         170
Duke Energy Progress | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   55         60
Duke Energy Progress | Post-in-service carrying costs (PISCC) and deferred operating expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   42         47
Duke Energy Progress | Retired generation facilities              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   149         171
Duke Energy Progress | Deferred asset – Lee and Harris COLA              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   21         21
Duke Energy Progress | Advanced metering infrastructure (AMI)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   81         92
Duke Energy Progress | Customer connect project              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   54         57
Duke Energy Progress | Vacation accrual              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   43         42
Duke Energy Progress | Incremental COVID-19 expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   78         28
Duke Energy Progress | Demand side management (DSM)/Energy efficiency (EE)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   180         218
Duke Energy Progress | NCEMPA deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   157         165
Duke Energy Progress | Nuclear deferral              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   64         42
Duke Energy Progress | COR settlement              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   32         32
Duke Energy Progress | Deferred coal ash handling system costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   25         23
Duke Energy Progress | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   70         68
Duke Energy Florida              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   3,565         2,288
Less: current portion   1,143         497
Total noncurrent regulatory assets   2,422         1,791
Total regulatory liabilities   877         796
Less: current portion   244         98
Total noncurrent regulatory liabilities   633         698
Duke Energy Florida | Net regulatory liability related to income taxes              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   633         699
Duke Energy Florida | DOE Settlement              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   154          
Duke Energy Florida | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   90         97
Duke Energy Florida | AROs – coal ash              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   11         10
Duke Energy Florida | AROs – nuclear and other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   15         7
Duke Energy Florida | Deferred Fuel Costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   1,355         415
Duke Energy Florida | Deferred Fuel Costs | FPSC              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   1,200          
Duke Energy Florida | Deferred Fuel Costs | FPSC | Subsequent Event              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets $ 795            
Duke Energy Florida | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   342         374
Duke Energy Florida | Nuclear asset securitized balance, net              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   881         937
Duke Energy Florida | Storm cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   325         19
Duke Energy Florida | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   73         77
Duke Energy Florida | Retired generation facilities              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   94         94
Duke Energy Florida | Advanced metering infrastructure (AMI)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   30         38
Duke Energy Florida | Customer connect project              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   82         67
Duke Energy Florida | Costs of removal regulatory asset              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   221         107
Duke Energy Florida | Qualifying facility contract buyouts              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   81         94
Duke Energy Florida | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   55         49
Duke Energy Ohio              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   684         707
Less: current portion   103         72
Total noncurrent regulatory assets   581         635
Total regulatory liabilities   633         801
Less: current portion   99         62
Total noncurrent regulatory liabilities   534         739
Duke Energy Ohio | Net regulatory liability related to income taxes              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   496         602
Duke Energy Ohio | Costs of removal              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   9         39
Duke Energy Ohio | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   21         21
Duke Energy Ohio | Provision for rate refunds              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities             61
Duke Energy Ohio | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   107         78
Duke Energy Ohio | AROs – coal ash              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets             33
Duke Energy Ohio | Deferred Fuel Costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   54         38
Duke Energy Ohio | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   129         133
Duke Energy Ohio | Storm cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   14         2
Duke Energy Ohio | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   2         5
Duke Energy Ohio | Post-in-service carrying costs (PISCC) and deferred operating expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   15         16
Duke Energy Ohio | Advanced metering infrastructure (AMI)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   18         24
Duke Energy Ohio | Customer connect project              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   54         41
Duke Energy Ohio | CEP deferral              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   190         161
Duke Energy Ohio | Deferred pipeline integrity costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   28         24
Duke Energy Ohio | Propane caverns              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   26          
Duke Energy Ohio | Manufactured gas plant (MGP)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets             104
Duke Energy Ohio | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   154         126
Duke Energy Indiana              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   1,124         1,555
Less: current portion   249         277
Total noncurrent regulatory assets   875         1,278
Total regulatory liabilities   1,641         1,692
Less: current portion   187         127
Total noncurrent regulatory liabilities   1,454         1,565
Duke Energy Indiana | Net regulatory liability related to income taxes              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   840         908
Duke Energy Indiana | Costs of removal              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   531         575
Duke Energy Indiana | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   81          
Duke Energy Indiana | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   104         113
Duke Energy Indiana | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   85         96
Duke Energy Indiana | AROs – coal ash              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   385         749
Duke Energy Indiana | Deferred Fuel Costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   138         158
Duke Energy Indiana | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   214         222
Duke Energy Indiana | Hedge cost deferrals              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   20         35
Duke Energy Indiana | Post-in-service carrying costs (PISCC) and deferred operating expenses              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   255         262
Duke Energy Indiana | Retired generation facilities              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   34         38
Duke Energy Indiana | Advanced metering infrastructure (AMI)              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   15         17
Duke Energy Indiana | Customer connect project              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   19         11
Duke Energy Indiana | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   44         63
Piedmont              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   511         457
Less: current portion   119         141
Total noncurrent regulatory assets   392         316
Total regulatory liabilities   1,098         1,114
Less: current portion   74         56
Total noncurrent regulatory liabilities   1,024         1,058
Piedmont | Net regulatory liability related to income taxes              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   459         510
Piedmont | Costs of removal              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   573         572
Piedmont | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory liabilities   66         32
Piedmont | AROs – nuclear and other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   27         22
Piedmont | Accrued pension and OPEB              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   119         82
Piedmont | Vacation accrual              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   12         12
Piedmont | Derivatives – natural gas supply contracts              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   168         139
Piedmont | Deferred pipeline integrity costs              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   93         84
Piedmont | Amounts due from customers              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   57         85
Piedmont | Other              
Regulatory Assets Liabilities [Line Items]              
Total regulatory assets   $ 35         $ 33
v3.22.4
Regulatory Matters (Duke Energy Narrative) (Details)
customer in Thousands, $ in Millions
 1 Months Ended 12 Months Ended
Oct. 31, 2022
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 30, 2022
Sep. 30, 2022
customer
Aug. 05, 2022
USD ($)
Oct. 13, 2021
Public Utilities, General Disclosures [Line Items]                
Capital expenditures   $ 11,419 $ 9,752 $ 10,421        
Regulatory assets   $ 18,130 14,637          
Storm Cost Securitization Legislation | NCUC                
Public Utilities, General Disclosures [Line Items]                
Reduction in CO2 emissions (as a percent)               70.00%
Solar storage as long term purchase agreements (as a percent)         45.00%      
Duke Energy Ohio                
Public Utilities, General Disclosures [Line Items]                
Limit of total capital (as a percent)   30.00%            
Capital expenditures   $ 850 848 $ 834        
Regulatory assets   $ 684 707          
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    
Duke Energy Carolinas and Duke Energy Progress | Natural Disasters and Other Casualty Events | Minimum                
Public Utilities, General Disclosures [Line Items]                
Storm costs incurred $ 100              
Capital expenditures 9              
Regulatory assets 83              
Duke Energy Progress                
Public Utilities, General Disclosures [Line Items]                
Regulatory assets   $ 5,414 4,651          
Duke Energy Progress | Storm Cost Securitization Legislation | PSCSC                
Public Utilities, General Disclosures [Line Items]                
Deferred storm costs             $ 223  
Duke Energy Progress | Natural Disasters and Other Casualty Events | Minimum                
Public Utilities, General Disclosures [Line Items]                
Regulatory assets 43              
Duke Energy Carolinas                
Public Utilities, General Disclosures [Line Items]                
Regulatory assets   $ 5,388 $ 3,479          
Duke Energy Carolinas | Natural Disasters and Other Casualty Events | Minimum                
Public Utilities, General Disclosures [Line Items]                
Regulatory assets $ 40              
v3.22.4
Regulatory Matters (Duke Energy Carolinas Narrative) (Details)
$ in Millions
 7 Months Ended 11 Months Ended 12 Months Ended
Oct. 06, 2022
Sep. 27, 2021
contention
Jul. 28, 2021
Jun. 07, 2021
Jun. 06, 2021
Dec. 31, 2025
USD ($)
Dec. 31, 2026
USD ($)
May 31, 2027
May 31, 2026
USD ($)
Jan. 18, 2026
USD ($)
May 31, 2025
USD ($)
Jan. 18, 2025
USD ($)
May 31, 2024
USD ($)
Jan. 18, 2024
USD ($)
Dec. 31, 2022
Nuclear Regulatory Commission                              
Public Utilities, General Disclosures [Line Items]                              
Operating license extension (in years)                             20 years
Oconee Nuclear Station Subsequent License Renewal | Duke Energy Carolinas | Nuclear Regulatory Commission                              
Public Utilities, General Disclosures [Line Items]                              
Comment period (in years)     60 days                        
Number of contentions | contention   3                          
Oconee Nuclear Station Subsequent License Renewal | Duke Energy Carolinas | Oconee | Nuclear Regulatory Commission                              
Public Utilities, General Disclosures [Line Items]                              
Operating license extension (in years)       20 years                      
Operating license (in years)       80 years 60 years                    
2022 North Carolina Rate Case | Duke Energy Carolinas | NCUC | Forecast                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease)             $ 823     $ 150   $ 172      
Requested return on equity, percentage             15.70%                
2022 North Carolina Rate Case | Duke Energy Carolinas | NCUC | Subsequent Event | Forecast                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease)                           $ 501  
2022 North Carolina Rate Case | Duke Energy Progress | NCUC                              
Public Utilities, General Disclosures [Line Items]                              
Proposed rate period (in years) 3 years                            
2022 North Carolina Rate Case | Duke Energy Progress | NCUC | Forecast                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease)           $ 615     $ 138   $ 151   $ 326    
Requested return on equity, percentage               16.00%              
v3.22.4
Regulatory Matters (Duke Energy Progress Narrative) (Details) - USD ($)
$ in Millions
 7 Months Ended 12 Months Ended
Oct. 06, 2022
Sep. 01, 2022
Jun. 16, 2022
Oct. 16, 2020
Dec. 31, 2025
May 31, 2027
May 31, 2026
May 31, 2025
May 31, 2024
Dec. 31, 2022
Dec. 31, 2021
Public Utilities, General Disclosures [Line Items]                      
Other, estimated useful life, in years                   15 years 14 years
Duke Energy Progress | PSCSC | 2022 South Carolina Rate Case                      
Public Utilities, General Disclosures [Line Items]                      
Approved rate increase (decrease) amount by state commission   $ 52                  
Duke Energy Progress | PSCSC | 2022 South Carolina Rate Case, Retail Rate Case                      
Public Utilities, General Disclosures [Line Items]                      
Deferred compliance costs period (in years)   33 months                  
Approved return on equity, percentage   9.60%                  
Approved rate increase (decrease) amount by state commission   $ 36                  
Duke Energy Progress | PSCSC | 2022 South Carolina Rate Case, Retail Rate Case | Equity                      
Public Utilities, General Disclosures [Line Items]                      
Approved return on equity, percentage   52.43%                  
Duke Energy Progress | PSCSC | 2022 South Carolina Rate Case, Retail Rate Case | Debt                      
Public Utilities, General Disclosures [Line Items]                      
Approved return on equity, percentage   47.57%                  
Duke Energy Progress | PSCSC | 2022 South Carolina Rate Case, Coal Ash Basin Closure Costs                      
Public Utilities, General Disclosures [Line Items]                      
Deferred compliance costs period (in years)   7 years                  
Deferred costs not recovering   $ 50                  
Duke Energy Progress | NCUC | 2022 North Carolina Rate Case                      
Public Utilities, General Disclosures [Line Items]                      
Proposed rate period (in years) 3 years                    
Duke Energy Progress | NCUC | 2022 North Carolina Rate Case | Forecast                      
Public Utilities, General Disclosures [Line Items]                      
Requested rate increase (decrease)         $ 615   $ 138 $ 151 $ 326    
Requested return on equity, percentage           16.00%          
Duke Energy Progress | FERC | FERC Return on Equity Complaint, NCEMC                      
Public Utilities, General Disclosures [Line Items]                      
Approved return on equity, percentage     10.00% 11.00%              
v3.22.4
Regulatory Matters (Duke Energy Florida Narrative) (Details) - Duke Energy Florida
 12 Months Ended
Oct. 17, 2022
USD ($)
Oct. 04, 2022
USD ($)
Jun. 15, 2022
USD ($)
Jan. 14, 2021
USD ($)
Jul. 01, 2020
USD ($)
plant
MW
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 28, 2022
outage
Sep. 27, 2022
USD ($)
Apr. 11, 2022
USD ($)
May 04, 2021
USD ($)
Solar Plant                          
Public Utilities, General Disclosures [Line Items]                          
Estimated cost of generation facilities to be built         $ 1,000,000,000                
FPSC                          
Public Utilities, General Disclosures [Line Items]                          
Number of solar plants petition for approval | plant         10                
Solar generation capacity plants (in MW) | MW         750                
FPSC | Natural Disasters and Other Casualty Events                          
Public Utilities, General Disclosures [Line Items]                          
Deferred storm coats                 $ 353,000,000        
Number of outages | outage                   1,100,000      
Storm reserves                 132,000,000   $ 107,000,000    
Expected recovery payments to be received                 $ 442,000,000        
2021 Settlement | FPSC                          
Public Utilities, General Disclosures [Line Items]                          
Approved capital structure, percentage       53.00%                  
Approved debt structure, percentage       47.00%                  
Public utilities, basis points, increase       0.25%                  
Contract asset, noncurrent     $ 154,000,000 $ 173,000,000                 $ 173,000,000
Proceeds from legal settlements     $ 180,000,000                    
Future investments in new cost       $ 1,000,000,000                  
Requested rate increase (decrease) $ (56,000,000)                        
2021 Settlement | FPSC | US Treasury Securities                          
Public Utilities, General Disclosures [Line Items]                          
Public utilities, basis points, increase       0.50%                  
2021 Settlement | FPSC | Minimum                          
Public Utilities, General Disclosures [Line Items]                          
Approved return on equity percentage (as a percent)       8.85%                  
2021 Settlement | FPSC | Minimum | US Treasury Securities                          
Public Utilities, General Disclosures [Line Items]                          
Approved return on equity percentage (as a percent)       9.85%                  
2021 Settlement | FPSC | Maximum                          
Public Utilities, General Disclosures [Line Items]                          
Approved return on equity percentage (as a percent)       10.85%                  
2021 Settlement | FPSC | Maximum | US Treasury Securities                          
Public Utilities, General Disclosures [Line Items]                          
Approved return on equity percentage (as a percent)       10.10%                  
2021 Settlement | FPSC | Weighted Average                          
Public Utilities, General Disclosures [Line Items]                          
Approved return on equity percentage (as a percent)       9.85%                  
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          
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                      
v3.22.4
Regulatory Matters (Duke Energy Ohio Narrative) (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 01, 2022
USD ($)
Sep. 19, 2022
USD ($)
Jul. 14, 2022
USD ($)
May 19, 2022
USD ($)
Oct. 01, 2021
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Sep. 30, 2021
USD ($)
Jun. 30, 2021
USD ($)
Mar. 31, 2021
USD ($)
Dec. 31, 2022
USD ($)
site
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Apr. 27, 2022
USD ($)
Public Utilities, General Disclosures [Line Items]                                  
Revenues           $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 6,117 $ 6,834 $ 5,638 $ 6,032 $ 28,768 $ 24,621 $ 23,366  
Operation, maintenance and other                           5,734 5,703 5,502  
Income tax expense (benefit) from continuing operations                           300 268 (169)  
Public utilities, property, plant and equipment, net           111,748       105,536       111,748 105,536    
Asset impairment charges                           434 353 978  
Duke Energy Ohio                                  
Public Utilities, General Disclosures [Line Items]                                  
Revenues                           2,514 2,037 1,858  
Operation, maintenance and other                           523 479 463  
Income tax expense (benefit) from continuing operations                           (21) 30 $ 43  
Impairment (reversal) of assets and other charges                           (10) 25    
Public utilities, property, plant and equipment, net           9,247       $ 8,625       9,247 8,625    
Asset impairment charges                           (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                        
Requested return on equity, percentage         10.30%                        
Requested rate increase (decrease), percent         3.30%                        
Approved rate increase (decrease) amount by state commission   $ 23                              
Approved return on equity, percentage   9.50%                              
Duke Energy Ohio | Duke Energy Ohio Electric Base Rate Case | Public Utilities Commission Of Ohio | Minimum                                  
Public Utilities, General Disclosures [Line Items]                                  
Requested rate increase (decrease)       $ 2                          
Requested return on equity, percentage       8.84%                          
Duke Energy Ohio | Duke Energy Ohio Electric Base Rate Case | Public Utilities Commission Of Ohio | Maximum                                  
Public Utilities, General Disclosures [Line Items]                                  
Requested rate increase (decrease)       $ 15                          
Requested return on equity, percentage       9.85%                          
Duke Energy Ohio | Natural Gas Pipeline Extension | Ohio Power Siting Board | Minimum                                  
Public Utilities, General Disclosures [Line Items]                                  
Estimated capital cost excluding AFUDC           $ 170               $ 170      
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]                                  
Revenues                           $ 15      
Operation, maintenance and other                           58      
Income tax expense (benefit) from continuing operations                           (72)      
Duke Energy Ohio | Propane caverns                                  
Public Utilities, General Disclosures [Line Items]                                  
Impairment (reversal) of assets and other charges                           (12)      
Public utilities, property, plant and equipment, net                                 $ 7
Asset impairment charges                             $ 19    
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)     $ 49                            
Requested return on equity, percentage     10.30%                            
Requested rate increase (decrease), percent     5.60%                            
Duke Energy Ohio | Duke Energy Ohio Gas Base Rate Case | Public Utilities Commission Of Ohio | Minimum                                  
Public Utilities, General Disclosures [Line Items]                                  
Requested rate increase (decrease)                           $ 24      
Requested return on equity, percentage                           9.03%      
Duke Energy Ohio | Duke Energy Ohio Gas Base Rate Case | Public Utilities Commission Of Ohio | Maximum                                  
Public Utilities, General Disclosures [Line Items]                                  
Requested rate increase (decrease)                           $ 36      
Requested return on equity, percentage                           10.04%      
Equity ratio (as a percent)                           52.00%      
Duke Energy Ohio | Duke Energy Kentucky Electric Base Rate Case | KPSC                                  
Public Utilities, General Disclosures [Line Items]                                  
Requested rate increase (decrease) $ 75                                
Requested return on equity, percentage 10.35%                                
Requested rate increase (decrease), percent                           17.80%      
v3.22.4
Regulatory Matters (Duke Energy Ohio - Exit Obligation Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Public Utilities, General Disclosures [Line Items]    
Regulatory assets $ 18,130 $ 14,637
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 39 11
Cash Reductions (8) (8)
Balance, end of period 64 39
Duke Energy Ohio    
Public Utilities, General Disclosures [Line Items]    
Regulatory assets $ 684 $ 707
v3.22.4
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, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Jun. 15, 2022
Public Utilities, General Disclosures [Line Items]                              
Revenues       $ 7,351,000,000 $ 7,842,000,000 $ 6,564,000,000 $ 7,011,000,000 $ 6,117,000,000 $ 6,834,000,000 $ 5,638,000,000 $ 6,032,000,000 $ 28,768,000,000 $ 24,621,000,000 $ 23,366,000,000  
Asset impairment charges                       434,000,000 353,000,000 978,000,000  
Duke Energy Indiana                              
Public Utilities, General Disclosures [Line Items]                              
Revenues                       3,922,000,000 3,174,000,000 $ 2,795,000,000  
Asset impairment charges                       388,000,000 9,000,000    
Duke Energy Indiana | Indiana Utility Regulatory Commission | Indiana Rate Case 2019                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease)     $ 395,000,000                        
Requested rate increase (decrease), percentage, net of tax   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         $ 10,200,000,000    
Public utilities, disclosure of rate matters, rate base reduction due to depreciation methodology, percent 50.00%                            
Public utilities, disclosure of rate matters, rate base reduction due to approved return on equity, percent 20.00%                            
Approved return on equity percentage (as a percent) 9.70%                            
Requested return on equity, percentage 10.40%                            
Public utilities, disclosure of rate matters, rate base reduction due to earnings adjustments, percent 20.00%                            
Public utilities, disclosure of rate matters, reduction of rate base $ 200,000,000                            
Public utilities, approved return on equity, step two estimated (as a percent) 25.00%                            
Public utilities, approved return on equity, step one estimated percentage 75.00%                            
Impairment of assets and other charges                       211,000,000      
Revenues                       46,000,000      
Duke Energy Indiana | Indiana Utility Regulatory Commission | TDSIG 2.0                              
Public Utilities, General Disclosures [Line Items]                              
Future investments in new cost                             $ 2,000,000,000
Duke Energy Indiana | Indiana Utility Regulatory Commission | Indiana Coal Ash Recovery                              
Public Utilities, General Disclosures [Line Items]                              
Asset impairment charges                       $ 175,000,000      
v3.22.4
Regulatory Matters (Piedmont Narrative) (Details) - Piedmont - USD ($)
$ in Millions
 1 Months Ended
Oct. 10, 2022
Sep. 15, 2022
Apr. 01, 2022
Oct. 31, 2022
2022 South Carolina Rate Case | PSCSC        
Public Utilities, General Disclosures [Line Items]        
Requested rate increase (decrease)     $ 7  
Requested rate increase (decrease), percentage, net of tax     3.40%  
Approved return on equity percentage (as a percent)   9.30%    
Approved capital structure, percentage   52.20%    
Approved debt structure, percentage   47.80%    
Approved rate decrease amount by state commission       $ 1
Tennessee Annual Review Mechanism | TPUC        
Public Utilities, General Disclosures [Line Items]        
Approved return on equity percentage (as a percent) 9.80%      
v3.22.4
Regulatory Matters (Other Regulatory Matters Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Feb. 28, 2021
Public Utilities, General Disclosures [Line Items]        
Equity in losses of unconsolidated affiliates $ (113) $ (62) $ 2,005  
Other current liabilities 2,167 2,423    
Asset retirement obligations $ 773 $ 647    
Atlantic Coast Pipeline (ACP)        
Public Utilities, General Disclosures [Line Items]        
Joint owner ownership percentage 47.00%      
Atlantic Coast Pipeline (ACP) | Atlantic Coast Pipeline (ACP)        
Public Utilities, General Disclosures [Line Items]        
Equity in losses of unconsolidated affiliates     $ 2,100  
Other current liabilities $ 59      
Other liabilities, noncurrent 47      
Atlantic Coast Pipeline (ACP) | Atlantic Coast Pipeline (ACP) | Current Liabilities        
Public Utilities, General Disclosures [Line Items]        
Guarantor obligations settled       $ 855
Asset retirement obligations $ 106      
v3.22.4
Regulatory Matters (Schedule of Net Carrying Value Of Facilities) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2034
asset
Dec. 31, 2022
USD ($)
MW
Dec. 31, 2021
USD ($)
Public Utilities, General Disclosures [Line Items]      
Remaining net book value   $ 111,748 $ 105,536
Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   9,146  
Remaining net book value   $ 6,293  
Duke Energy Carolinas      
Public Utilities, General Disclosures [Line Items]      
Remaining net book value   $ 35,981 34,122
Duke Energy Carolinas | Allen Steam Station Unit 1 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   167  
Remaining net book value   $ 10  
Duke Energy Carolinas | Allen Steam Station Unit 5 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   259  
Remaining net book value   $ 233  
Duke Energy Carolinas | Cliffside Unit 5 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   546  
Remaining net book value   $ 344  
Duke Energy Carolinas | Marshall Units 1 And 2 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   760  
Remaining net book value   $ 428  
Duke Energy Progress      
Public Utilities, General Disclosures [Line Items]      
Remaining net book value   $ 24,674 23,657
Duke Energy Progress | Mayo Unit 1 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   713  
Remaining net book value   $ 639  
Duke Energy Progress | Roxboro Units 3-4 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   1,409  
Remaining net book value   $ 425  
Duke Energy Florida      
Public Utilities, General Disclosures [Line Items]      
Remaining net book value   $ 19,563 18,046
Duke Energy Florida | Crystal River Units 4 and 5 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   1,442  
Remaining net book value   $ 1,549  
Duke Energy Florida | Crystal River Units 4 and 5 | Generating facilities planned for retirement | Forecast      
Public Utilities, General Disclosures [Line Items]      
Facilities retiring ahead of schedule | asset 2    
Facilities retiring ahead of schedule, years ahead 8 years    
Duke Energy Florida | Crystal River Units 4-5 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Accelerated depreciation   200  
Duke Energy Indiana      
Public Utilities, General Disclosures [Line Items]      
Remaining net book value   $ 12,100 $ 11,760
Duke Energy Indiana | Gibson Units 1 - 5 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   2,845  
Remaining net book value   $ 2,043  
Duke Energy Indiana | Cayuga Units 1 - 2 | Generating facilities planned for retirement      
Public Utilities, General Disclosures [Line Items]      
Capacity (in MW) | MW   1,005  
Remaining net book value   $ 622  
v3.22.4
Commitments and Contingencies (Narrative) (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Jun. 16, 2021
people
Jun. 30, 2022
USD ($)
Apr. 30, 2022
USD ($)
Dec. 31, 2022
USD ($)
case
reactor
Dec. 31, 2021
USD ($)
Jun. 18, 2018
USD ($)
Loss Contingencies [Line Items]            
Number of licensed nuclear reactors | reactor       96    
Insured public liability limit per nuclear incident       $ 13,700.0    
Excess nuclear liability program coverage       13,200.0    
Pro rata assessment for each reactor owned for each incident exceeding public liability insurance       138.0    
Annual payment limit to pro rata assessments       20.5    
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    
Insurance coverage percentage initial weeks       100.00%    
Accidental outage insurance coverage initial weeks       365 days    
Insurance coverage percentage additional weeks       80.00%    
Accidental outage insurance coverage additional weeks       770 days    
Weeks of sublimits for accidental outage coverage       728 days    
Sublimit accidental outage recovery       $ 328.0    
Maximum magnitude of retroactive premiums       10    
Maximum period for retroactive premium assessment (in years)       6 years    
Texas Storm Uri Tort Litigation | Pending Litigation            
Loss Contingencies [Line Items]            
Loss contingency, pending claims, number | case       5    
Duke Energy Carolinas            
Loss Contingencies [Line Items]            
Primary nuclear liability program coverage       $ 450.0    
Max retroactive premium assessments       $ 151.0    
Duke Energy Carolinas | Catawba            
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       100.00%    
Duke Energy Carolinas | McGuire            
Loss Contingencies [Line Items]            
Number of licensed nuclear reactors | reactor       2    
Duke Energy Carolinas | Oconee            
Loss Contingencies [Line Items]            
Number of licensed nuclear reactors | reactor       3    
Additional Non-nuclear accident limit       $ 750.0    
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          
Number of deceased individuals | people 5          
Duke Energy Carolinas | Asbestos Issue            
Loss Contingencies [Line Items]            
Asbestos-related injuries and damages reserves       457.0 $ 501.0  
Loss contingency, receivable, noncurrent       595.0 $ 644.0  
Duke Energy Progress            
Loss Contingencies [Line Items]            
Primary nuclear liability program coverage       450.0    
Max retroactive premium assessments       $ 93.0    
Duke Energy Progress | Harris            
Loss Contingencies [Line Items]            
Number of licensed nuclear reactors | reactor       1    
Duke Energy Progress | Robinson            
Loss Contingencies [Line Items]            
Number of licensed nuclear reactors | reactor       1    
Duke Energy Progress | Brunswick            
Loss Contingencies [Line Items]            
Number of licensed nuclear reactors | reactor       2    
Duke Energy Progress | Spent Nuclear Fuel Matters            
Loss Contingencies [Line Items]            
Damages sought           $ 100.0
Amount awarded     $ 87.0      
Duke Energy Florida            
Loss Contingencies [Line Items]            
Primary nuclear liability program coverage       $ 100.0    
Max retroactive premium assessments       1.0    
Duke Energy Florida | Crystal River Unit 3            
Loss Contingencies [Line Items]            
Sublimit property damage losses       50.0    
Duke Energy Florida | Spent Nuclear Fuel Matters            
Loss Contingencies [Line Items]            
Damages sought           $ 200.0
Amount awarded   $ 180.0        
Duke Energy and Duke Energy Carolinas | ASU 2016-13            
Loss Contingencies [Line Items]            
Premium receivable, allowance for credit loss       $ 12.0    
v3.22.4
Commitments and Contingencies (Schedule of Environmental Loss Contingencies) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Loss Contingencies [Line Items]    
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Other (includes amounts related to VIEs) Other (includes amounts related to VIEs)
Environmental reserves    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation $ 84 $ 88
Environmental reserves | Duke Energy Carolinas    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 22 19
Environmental reserves | Progress Energy    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 19 23
Environmental reserves | Duke Energy Progress    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 8 11
Environmental reserves | Duke Energy Florida    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 11 11
Environmental reserves | Duke Energy Ohio    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 33 34
Environmental reserves | Duke Energy Indiana    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 3 4
Environmental reserves | Piedmont    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation $ 7 $ 9
v3.22.4
Commitments and Contingencies (Purchased Power) (Details) - Purchased Power Contracts
$ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
Duke Energy Progress  
Unconditional Purchase Obligations [Abstract]  
2023 $ 22
2024 21
2025 22
2026 18
2027 19
Thereafter 27
Total $ 129
Duke Energy Progress | Minimum  
Unconditional Purchase Obligations [Abstract]  
Net plant output percent 18.00%
Duke Energy Progress | Maximum  
Unconditional Purchase Obligations [Abstract]  
Net plant output percent 100.00%
Duke Energy Florida  
Unconditional Purchase Obligations [Abstract]  
2023 $ 300
2024 267
2025 91
Total $ 658
Net plant output percent 100.00%
Duke Energy Ohio  
Unconditional Purchase Obligations [Abstract]  
2023 $ 55
2024 36
Total $ 91
v3.22.4
Commitments and Contingencies (Gas Supply Contracts) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
Maximum | Pipeline and storage capacity contracts  
Long-term Purchase Commitment [Line Items]  
Long-term purchase commitment term (in years) 20 years
Maximum | Natural gas supply contracts fixed payment  
Long-term Purchase Commitment [Line Items]  
Long-term purchase commitment term (in years) 4 years
Maximum | Natural gas supply purchase commitments  
Long-term Purchase Commitment [Line Items]  
Long-term purchase commitment term (in years) 9 years
Duke Energy Ohio | Natural Gas Supply and Capacity Contracts  
Long-term Purchase Commitment [Line Items]  
2023 $ 85
2024 101
2025 85
2026 56
2027 52
Thereafter 616
Total 995
Piedmont | Natural Gas Supply and Capacity Contracts  
Long-term Purchase Commitment [Line Items]  
2023 319
2024 313
2025 267
2026 213
2027 203
Thereafter 587
Total $ 1,902
v3.22.4
Leases (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Lessee, Lease, Description [Line Items]    
Operating lease assets, cost basis $ 163,839 $ 154,496
Piedmont    
Lessee, Lease, Description [Line Items]    
Operating lease assets, cost basis 10,869 9,918
Construction and transportation of natural gas pipelines | Piedmont    
Lessee, Lease, Description [Line Items]    
Net investment in lease, current 2 2
Duke Energy Carolinas | Construction and transportation of natural gas pipelines | Piedmont    
Lessee, Lease, Description [Line Items]    
Net investment in lease, noncurrent $ 201 $ 203
v3.22.4
Leases (Lease Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Lessee, Lease, Description [Line Items]    
Operating lease expense $ 229 $ 245
Short-term lease expense 4 5
Variable lease expense 61 41
Finance lease expense    
Amortization of leased assets 151 219
Interest on lease liabilities 50 55
Total finance lease expense 201 274
Total lease expense 495 565
Duke Energy Carolinas    
Lessee, Lease, Description [Line Items]    
Operating lease expense 39 43
Variable lease expense (1) 17
Finance lease expense    
Amortization of leased assets 6 5
Interest on lease liabilities 32 33
Total finance lease expense 38 38
Total lease expense 76 98
Progress Energy    
Lessee, Lease, Description [Line Items]    
Operating lease expense 153 155
Short-term lease expense 1 2
Variable lease expense 60 22
Finance lease expense    
Amortization of leased assets 61 37
Interest on lease liabilities 49 48
Total finance lease expense 110 85
Total lease expense 324 264
Duke Energy Progress    
Lessee, Lease, Description [Line Items]    
Operating lease expense 83 83
Short-term lease expense   1
Variable lease expense 37 10
Finance lease expense    
Amortization of leased assets 41 18
Interest on lease liabilities 45 42
Total finance lease expense 86 60
Total lease expense 206 154
Duke Energy Florida    
Lessee, Lease, Description [Line Items]    
Operating lease expense 70 72
Short-term lease expense 1 1
Variable lease expense 23 12
Finance lease expense    
Amortization of leased assets 20 19
Interest on lease liabilities 4 6
Total finance lease expense 24 25
Total lease expense 118 110
Duke Energy Ohio    
Lessee, Lease, Description [Line Items]    
Operating lease expense 10 11
Finance lease expense    
Total lease expense 10 11
Duke Energy Indiana    
Lessee, Lease, Description [Line Items]    
Operating lease expense 19 18
Short-term lease expense 2 2
Finance lease expense    
Amortization of leased assets   1
Interest on lease liabilities 1  
Total finance lease expense 1 1
Total lease expense 22 21
Piedmont    
Lessee, Lease, Description [Line Items]    
Operating lease expense 6 7
Variable lease expense 1 1
Finance lease expense    
Total lease expense $ 7 $ 8
v3.22.4
Leases (Operating Lease Maturities) (Details)
$ in Millions
Dec. 31, 2022
USD ($)
Lessee, Operating Lease, Liability, Payment, Due  
2023 $ 225
2024 207
2025 175
2026 161
2027 134
Thereafter 322
Total operating lease payments 1,224
Less: present value discount (169)
Total operating lease liabilities 1,055
Duke Energy Carolinas  
Lessee, Operating Lease, Liability, Payment, Due  
2023 23
2024 21
2025 14
2026 13
2027 9
Thereafter 37
Total operating lease payments 117
Less: present value discount (20)
Total operating lease liabilities 97
Progress Energy  
Lessee, Operating Lease, Liability, Payment, Due  
2023 118
2024 110
2025 96
2026 99
2027 73
Thereafter 253
Total operating lease payments 749
Less: present value discount (107)
Total operating lease liabilities 642
Duke Energy Progress  
Lessee, Operating Lease, Liability, Payment, Due  
2023 64
2024 56
2025 42
2026 45
2027 46
Thereafter 209
Total operating lease payments 462
Less: present value discount (76)
Total operating lease liabilities 386
Duke Energy Florida  
Lessee, Operating Lease, Liability, Payment, Due  
2023 54
2024 54
2025 54
2026 54
2027 27
Thereafter 44
Total operating lease payments 287
Less: present value discount (31)
Total operating lease liabilities 256
Duke Energy Ohio  
Lessee, Operating Lease, Liability, Payment, Due  
2023 2
2024 2
2025 2
2026 2
2027 2
Thereafter 15
Total operating lease payments 25
Less: present value discount (7)
Total operating lease liabilities 18
Duke Energy Indiana  
Lessee, Operating Lease, Liability, Payment, Due  
2023 6
2024 5
2025 5
2026 4
2027 4
Thereafter 45
Total operating lease payments 69
Less: present value discount (18)
Total operating lease liabilities 51
Piedmont  
Lessee, Operating Lease, Liability, Payment, Due  
2023 4
2024 4
2025 4
Thereafter 1
Total operating lease payments 13
Total operating lease liabilities $ 13
v3.22.4
Leases (Finance Lease Maturities) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Finance Lease, Liability, Payment, Due    
2023 $ 198  
2024 143  
2025 76  
2026 77  
2027 74  
Thereafter 584  
Total finance lease payments 1,152  
Less: amounts representing interest (388)  
Total finance lease liabilities 764 $ 915
Duke Energy Carolinas    
Finance Lease, Liability, Payment, Due    
2023 38  
2024 38  
2025 38  
2026 38  
2027 38  
Thereafter 427  
Total finance lease payments 617  
Less: amounts representing interest (333)  
Total finance lease liabilities 284 289
Progress Energy    
Finance Lease, Liability, Payment, Due    
2023 103  
2024 88  
2025 85  
2026 86  
2027 82  
Thereafter 555  
Total finance lease payments 999  
Less: amounts representing interest (371)  
Total finance lease liabilities 628 690
Duke Energy Progress    
Finance Lease, Liability, Payment, Due    
2023 78  
2024 79  
2025 80  
2026 81  
2027 81  
Thereafter 555  
Total finance lease payments 954  
Less: amounts representing interest (367)  
Total finance lease liabilities 587 629
Duke Energy Florida    
Finance Lease, Liability, Payment, Due    
2023 25  
2024 9  
2025 5  
2026 5  
2027 1  
Total finance lease payments 45  
Less: amounts representing interest (4)  
Total finance lease liabilities 41 61
Duke Energy Indiana    
Finance Lease, Liability, Payment, Due    
2023 1  
2024 1  
2025 1  
2026 1  
2027 1  
Thereafter 23  
Total finance lease payments 28  
Less: amounts representing interest (19)  
Total finance lease liabilities $ 9 $ 10
v3.22.4
Leases (Supplemental Financial Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Assets    
Operating lease right-of-use assets, net $ 1,042 $ 1,136
Net property, plant and equipment 810 950
Total lease assets 1,852 2,086
Current    
Operating 179 184
Finance 153 151
Noncurrent    
Operating 876 940
Finance 611 764
Total lease liabilities 1,819 2,039
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 230 245
Operating cash flows from finance leases 50 55
Financing cash flows from finance leases 151 219
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 111 182
Finance   $ 322
Weighted average remaining lease term (years)    
Operating leases 8 years 8 years
Finance leases 10 years 10 years
Weighted-average discount rate    
Operating leases 3.40% 3.50%
Finance leases 7.70% 7.30%
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
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 $ 92
Net property, plant and equipment 284 302
Total lease assets 362 394
Current    
Operating 14 22
Finance 7 6
Noncurrent    
Operating 83 78
Finance 277 283
Total lease liabilities 381 389
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 24 25
Operating cash flows from finance leases 32 33
Financing cash flows from finance leases 6 5
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 10 $ 4
Weighted average remaining lease term (years)    
Operating leases 10 years 9 years
Finance leases 17 years 18 years
Weighted-average discount rate    
Operating leases 3.80% 3.50%
Finance leases 11.50% 11.60%
Progress Energy    
Assets    
Operating lease right-of-use assets, net $ 628 $ 691
Net property, plant and equipment 674 729
Total lease assets 1,302 1,420
Current    
Operating 96 94
Finance 57 61
Noncurrent    
Operating 546 606
Finance 571 629
Total lease liabilities 1,270 1,390
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 118 117
Operating cash flows from finance leases 49 48
Financing cash flows from finance leases $ 61 37
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating   99
Finance   $ 322
Weighted average remaining lease term (years)    
Operating leases 8 years 8 years
Finance leases 12 years 13 years
Weighted-average discount rate    
Operating leases 3.60% 3.60%
Finance leases 9.10% 9.00%
Duke Energy Progress    
Assets    
Operating lease right-of-use assets, net $ 370 $ 389
Net property, plant and equipment 590 627
Total lease assets 960 1,016
Current    
Operating 51 50
Finance 35 41
Noncurrent    
Operating 335 350
Finance 552 588
Total lease liabilities 973 1,029
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 63 62
Operating cash flows from finance leases 45 42
Financing cash flows from finance leases $ 41 18
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating   99
Finance   $ 322
Weighted average remaining lease term (years)    
Operating leases 9 years 10 years
Finance leases 12 years 13 years
Weighted-average discount rate    
Operating leases 3.50% 3.40%
Finance leases 9.10% 9.00%
Duke Energy Florida    
Assets    
Operating lease right-of-use assets, net $ 258 $ 302
Net property, plant and equipment 84 102
Total lease assets 342 404
Current    
Operating 45 44
Finance 22 20
Noncurrent    
Operating 211 256
Finance 19 41
Total lease liabilities 297 361
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 55 55
Operating cash flows from finance leases 4 6
Financing cash flows from finance leases $ 20 $ 19
Weighted average remaining lease term (years)    
Operating leases 6 years 7 years
Finance leases 12 years 11 years
Weighted-average discount rate    
Operating leases 3.80% 3.80%
Finance leases 8.00% 8.20%
Duke Energy Ohio    
Assets    
Operating lease right-of-use assets, net $ 18 $ 19
Total lease assets 18 19
Current    
Operating 1 1
Noncurrent    
Operating 17 18
Total lease liabilities 18 19
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases $ 2 $ 2
Weighted average remaining lease term (years)    
Operating leases 15 years 16 years
Weighted-average discount rate    
Operating leases 4.20% 4.20%
Duke Energy Indiana    
Assets    
Operating lease right-of-use assets, net $ 49 $ 53
Net property, plant and equipment 6 7
Total lease assets 55 60
Current    
Operating 4 4
Noncurrent    
Operating 47 50
Finance 9 10
Total lease liabilities 60 64
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 6 6
Operating cash flows from finance leases $ 1  
Financing cash flows from finance leases   $ 1
Weighted average remaining lease term (years)    
Operating leases 15 years 16 years
Finance leases 23 years 24 years
Weighted-average discount rate    
Operating leases 4.00% 4.10%
Finance leases 11.90% 11.90%
Piedmont    
Assets    
Operating lease right-of-use assets, net $ 4 $ 16
Total lease assets 4 16
Current    
Operating   5
Noncurrent    
Operating 13 14
Total lease liabilities 13 19
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases $ 4 $ 5
Weighted average remaining lease term (years)    
Operating leases 1 year 4 years
Weighted-average discount rate    
Operating leases 3.30% 3.60%
v3.22.4
Debt and Credit Facilities (Summary of Debt and Related Terms) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.09% 3.50%
Unsecured Debt $ 29,585 $ 24,564
Secured Debt 5,632 5,584
First mortgage bonds 32,645 31,026
Finance leases 764 915
Tax exempt bonds 1,331 360
Notes payable and commercial paper 4,582 3,929
Fair value hedge carrying value adjustment (5) 4
Unamortized debt discount and premium, net 1,016 1,119
Unamortized debt issuance costs (383) (362)
Total debt 75,167 67,139
Short-term notes payable and commercial paper (3,952) (3,304)
Current maturities of long-term debt (4,154) (3,387)
Total long-term debt 67,061 60,448
Short term obligations classified as long-term debt $ 937 $ 937
Unsecured Debt    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.20% 3.71%
Secured Debt    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.11% 2.50%
First Mortgage Bonds    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 3.89% 3.87%
Finance Leases    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 7.90% 5.81%
Tax Exempt Bonds    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 3.84% 0.65%
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) 4.50% 0.35%
Short term obligations classified as long-term debt $ 625 $ 625
Weighted average days to maturity (in days) 15 days 15 days
Parent Company | Purchase Accounting Adjustments    
Debt Instrument [Line Items]    
Unamortized debt issuance costs $ 27 $ 29
Duke Energy Carolinas    
Debt Instrument [Line Items]    
Unsecured Debt 1,150 1,150
Secured Debt 1,317 1,094
First mortgage bonds 11,306 10,507
Finance leases 284 289
Money pool/intercompany borrowings 1,533 526
Fair value hedge carrying value adjustment   4
Unamortized debt discount and premium, net (21) (21)
Unamortized debt issuance costs (70) (67)
Total debt 15,499 13,482
Short-term money pool/intercompany borrowings (1,233) (226)
Current maturities of long-term debt (1,018) (362)
Total long-term debt 13,248 12,894
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
Progress Energy    
Debt Instrument [Line Items]    
Unsecured Debt 2,600 2,250
Secured Debt 2,383 2,397
First mortgage bonds 16,350 15,450
Finance leases 628 690
Tax exempt bonds 500 48
Money pool/intercompany borrowings 993 2,959
Unamortized debt discount and premium, net (40) (34)
Unamortized debt issuance costs (132) (128)
Total debt 23,282 23,632
Short-term money pool/intercompany borrowings (843) (2,809)
Current maturities of long-term debt (697) (1,082)
Total long-term debt 21,742 19,741
Duke Energy Progress    
Debt Instrument [Line Items]    
Secured Debt 1,155 1,120
First mortgage bonds 8,776 8,375
Finance leases 587 629
Tax exempt bonds 500 48
Money pool/intercompany borrowings 389 322
Unamortized debt discount and premium, net (23) (19)
Unamortized debt issuance costs (59) (54)
Total debt 11,325 10,421
Short-term money pool/intercompany borrowings (238) (172)
Current maturities of long-term debt (369) (556)
Total long-term debt 10,718 9,693
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 Florida    
Debt Instrument [Line Items]    
Unsecured Debt 950 150
Secured Debt 1,228 1,278
First mortgage bonds 7,576 7,075
Finance leases 41 61
Money pool/intercompany borrowings 605 199
Unamortized debt discount and premium, net (16) (14)
Unamortized debt issuance costs (70) (68)
Total debt 10,314 8,681
Short-term money pool/intercompany borrowings (605) (199)
Current maturities of long-term debt (328) (76)
Total long-term debt 9,381 8,406
Duke Energy Florida | Purchase Accounting Adjustments    
Debt Instrument [Line Items]    
Finance leases 164 256
Duke Energy Ohio    
Debt Instrument [Line Items]    
Unsecured Debt 1,330 1,330
First mortgage bonds 1,850 1,850
Tax exempt bonds 77 27
Money pool/intercompany borrowings 522 128
Unamortized debt discount and premium, net (25) (27)
Unamortized debt issuance costs (12) (13)
Total debt 3,742 3,295
Short-term money pool/intercompany borrowings (497) (103)
Current maturities of long-term debt (475)  
Total long-term debt 2,770 3,192
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 Indiana    
Debt Instrument [Line Items]    
Unsecured Debt 697 700
First mortgage bonds 3,138 3,219
Finance leases 9 10
Tax exempt bonds 352 285
Money pool/intercompany borrowings 585 150
Unamortized debt discount and premium, net (17) (18)
Unamortized debt issuance costs (22) (23)
Total debt 4,742 4,323
Short-term money pool/intercompany borrowings (435)  
Current maturities of long-term debt (303) (84)
Total long-term debt 4,004 4,239
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
Piedmont    
Debt Instrument [Line Items]    
Unsecured Debt 3,390 2,990
Money pool/intercompany borrowings 514 518
Unamortized debt discount and premium, net (9) (6)
Unamortized debt issuance costs (18) (16)
Total debt 3,877 3,486
Short-term money pool/intercompany borrowings (514) (518)
Current maturities of long-term debt (45) 0
Total long-term debt 3,318 2,968
Progress Energy | Purchase Accounting Adjustments    
Debt Instrument [Line Items]    
Unamortized debt discount and premium, net 1,057 1,121
Piedmont | Purchase Accounting Adjustments    
Debt Instrument [Line Items]    
Unamortized debt discount and premium, net $ 85 $ 100
v3.22.4
Debt and Credit Facilities (Summary of Current Maturities of Long-term Debt) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 4,154 $ 3,387
Other    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 854  
Duke Energy (Parent) | Debt Maturing April 2023, 2.875% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest Rate 2.875%  
Current maturities of long-term debt $ 350  
Duke Energy (Parent) | Debt Maturing June 2023, 1.938% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest Rate 3.469%  
Current maturities of long-term debt $ 500  
Duke Energy (Parent) | Debt Maturing October 2023, 3.950% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest Rate 3.95%  
Current maturities of long-term debt $ 400  
Duke Energy Ohio    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 475  
Duke Energy Ohio | Debt Maturing October 2023, 2.750% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest Rate 4.272%  
Current maturities of long-term debt $ 150  
Duke Energy Ohio | Debt Maturing September 2023, 3.800% Coupon | First Mortgage Bonds    
Debt Instrument [Line Items]    
Interest Rate 3.80%  
Current maturities of long-term debt $ 300  
Duke Energy Indiana    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 303 84
Duke Energy Indiana | Debt Maturing October 2023, -% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest Rate 4.118%  
Current maturities of long-term debt $ 300  
Duke Energy Carolinas    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 1,018 362
Duke Energy Carolinas | Debt Maturing March 2023, 2.500% Coupon | First Mortgage Bonds    
Debt Instrument [Line Items]    
Interest Rate 2.50%  
Current maturities of long-term debt $ 500  
Duke Energy Carolinas | Debt Maturing March 2023, 3.050% Coupon | First Mortgage Bonds    
Debt Instrument [Line Items]    
Interest Rate 3.05%  
Current maturities of long-term debt $ 500  
Duke Energy Progress    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 369 $ 556
Duke Energy Progress | Debt Maturing September 2023, 3.375% Coupon | First Mortgage Bonds    
Debt Instrument [Line Items]    
Interest Rate 3.375%  
Current maturities of long-term debt $ 300  
v3.22.4
Debt and Credit Facilities (Annual Maturities) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Long-term Debt, Fiscal Year Maturity [Abstract]    
2023 $ 4,154  
2024 3,216  
2025 4,322  
2026 2,682  
2027 3,203  
Thereafter 52,999  
Total long-term debt, including current maturities 70,576  
Current maturities of long-term debt 4,154 $ 3,387
Unamortized debt discount and premium, net (1,170) (1,250)
Purchase Accounting Adjustments    
Long-term Debt, Fiscal Year Maturity [Abstract]    
Unamortized debt discount and premium, net 1,169  
Duke Energy Carolinas    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2023 1,018  
2024 19  
2025 491  
2026 621  
2027 323  
Thereafter 11,884  
Total long-term debt, including current maturities 14,356  
Current maturities of long-term debt 1,018 362
Progress Energy    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2023 697  
2024 939  
2025 1,040  
2026 345  
2027 947  
Thereafter 18,642  
Total long-term debt, including current maturities 22,610  
Current maturities of long-term debt 697 1,082
Duke Energy Progress    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2023 369  
2024 72  
2025 975  
2026 279  
2027 233  
Thereafter 9,238  
Total long-term debt, including current maturities 11,166  
Current maturities of long-term debt 369 556
Duke Energy Florida    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2023 328  
2024 867  
2025 65  
2026 66  
2027 714  
Thereafter 7,753  
Total long-term debt, including current maturities 9,793  
Current maturities of long-term debt 328 76
Duke Energy Ohio    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2023 475  
2025 245  
2026 45  
2027 102  
Thereafter 2,415  
Total long-term debt, including current maturities 3,282  
Current maturities of long-term debt 475  
Duke Energy Indiana    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2023 303  
2024 4  
2025 4  
2026 4  
2027 177  
Thereafter 3,853  
Total long-term debt, including current maturities 4,345  
Current maturities of long-term debt 303 84
Piedmont    
Long-term Debt, Fiscal Year Maturity [Abstract]    
2023 45  
2024 40  
2025 205  
2026 40  
2027 300  
Thereafter 2,760  
Total long-term debt, including current maturities 3,390  
Current maturities of long-term debt $ 45 $ 0
Duke Energy (Parent) | Debt Maturing April 2023, 2.875% Coupon | Unsecured Debt    
Long-term Debt, Fiscal Year Maturity [Abstract]    
Interest Rate 2.875%  
Current maturities of long-term debt $ 350  
Duke Energy (Parent) | Debt Maturing June 2023, 1.938% Coupon | Unsecured Debt    
Long-term Debt, Fiscal Year Maturity [Abstract]    
Interest Rate 3.469%  
Current maturities of long-term debt $ 500  
v3.22.4
Debt and Credit Facilities (Short Term Obligations Classified As Long Term) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
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
v3.22.4
Debt and Credit Facilities (Summary of Debt Issuances) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Debt Instrument [Line Items]      
Debt issuances $ 9,186,000,000 $ 8,107,000,000  
Repayments of long-term debt $ 4,396,000,000 $ 5,294,000,000 $ 4,506,000,000
May 2022 Notes Due May 2052 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate 5.05%    
Debt issuances $ 400,000,000    
June 2022 Notes Due June 2028 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate 4.75%    
Debt issuances $ 645,000,000    
June 2022 Notes Due June 2034 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate 5.306%    
Debt issuances $ 537,000,000    
August 2022 Notes Due March 2028 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate 4.30%    
Debt issuances $ 900,000,000    
August 2022 Notes Due August 2032 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate 4.50%    
Debt issuances $ 1,150,000,000    
August 2022 Notes Due August 2052 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate 5.00%    
Debt issuances $ 1,150,000,000    
December 2022 Notes Due December 2025 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate 5.00%    
Debt issuances $ 500,000,000    
December 2022 Notes Due December 2027 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate 5.00%    
Debt issuances $ 500,000,000    
March 2022 Notes Due 2032 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate 2.85%    
Debt issuances $ 500,000,000    
March 2022 Notes Due March 2052 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate 3.55%    
Debt issuances $ 650,000,000    
March 2022 Notes Due April 2032 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate 3.40%    
Debt issuances $ 500,000,000    
March 2022 Notes Due April 2052 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate 4.00%    
Debt issuances $ 400,000,000    
November 2022 Notes Due November 2052 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate 5.95%    
Debt issuances $ 500,000,000    
June 2022 Notes Due September 2030 | Tax Exempt Bonds      
Debt Instrument [Line Items]      
Interest Rate 4.00%    
Debt issuances $ 168,000,000    
June 2022 Notes Due November 2039 | Tax Exempt Bonds      
Debt Instrument [Line Items]      
Interest Rate 4.25%    
Debt issuances $ 234,000,000    
September 2022 Notes Due September 2036 | Tax Exempt Bonds      
Debt Instrument [Line Items]      
Interest Rate 3.30%    
Debt issuances $ 200,000,000    
September 2022 Notes Due September 2030 (1) | Tax Exempt Bonds      
Debt Instrument [Line Items]      
Interest Rate 3.70%    
Debt issuances $ 210,000,000    
September 2022 Notes Due September 2030 (2) | Tax Exempt Bonds      
Debt Instrument [Line Items]      
Interest Rate 4.00%    
Debt issuances $ 42,000,000    
June 2022 Notes Due June 2028 And 2034 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate 3.10%    
Debt issuances $ 600,000,000    
Repayments of long-term debt 500,000,000    
March 2021 Notes Due March 2031 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate   2.50%  
Debt issuances   $ 350,000,000  
June 2021 Notes Due June 2023 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate   0.299%  
Debt issuances   $ 500,000,000  
June 2021 Notes Due June 2031 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate   2.55%  
Debt issuances   $ 1,000,000,000  
June 2021 Notes Due June 2041 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate   3.30%  
Debt issuances   $ 750,000,000  
June 2021 Notes Due June 2051 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate   3.50%  
Debt issuances   $ 750,000,000  
September 2021 Notes Due January 2082 | Unsecured Debt      
Debt Instrument [Line Items]      
Interest Rate   3.25%  
Debt issuances   $ 500,000,000  
Repayments of long-term debt   $ 500,000,000  
Interest rate reset period (in years)   5 years  
November 2021 Notes Due July 2031 | Secured Debt      
Debt Instrument [Line Items]      
Interest Rate   1.679%  
Debt issuances   $ 100,000,000  
November 2021 Notes Due July 2041 | Secured Debt      
Debt Instrument [Line Items]      
Interest Rate   2.617%  
Debt issuances   $ 137,000,000  
November 2021 Notes Due July 2028 | Secured Debt      
Debt Instrument [Line Items]      
Interest Rate   1.295%  
Debt issuances   $ 221,000,000  
November 2021 Notes Due July 2037 | Secured Debt      
Debt Instrument [Line Items]      
Interest Rate   2.387%  
Debt issuances   $ 352,000,000  
November 2021 Notes Due July 2041 (2) | Secured Debt      
Debt Instrument [Line Items]      
Interest Rate   2.799%  
Debt issuances   $ 197,000,000  
April 2021 Notes Due April 2031 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate   2.55%  
Debt issuances   $ 550,000,000  
April 2021 Notes Due April 2051 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate   3.45%  
Debt issuances   $ 450,000,000  
August 2021 Notes Due August 2031 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate   2.00%  
Debt issuances   $ 650,000,000  
August 2021 Notes Due August 2051 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate   2.90%  
Debt issuances   $ 450,000,000  
December 2021 Notes Due December 2031 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate   2.40%  
Debt issuances   $ 650,000,000  
December 2021 Notes Due December 2051 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Interest Rate   3.00%  
Debt issuances   $ 500,000,000  
Parent Company      
Debt Instrument [Line Items]      
Debt issuances 5,784,000,000 3,500,000,000  
Duke Energy (Parent)      
Debt Instrument [Line Items]      
Repayments of long-term debt   1,750,000,000  
Duke Energy (Parent) | June 2022 Notes Due June 2028 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances 645,000,000    
Duke Energy (Parent) | June 2022 Notes Due June 2034 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances 537,000,000    
Duke Energy (Parent) | August 2022 Notes Due March 2028 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances 900,000,000    
Duke Energy (Parent) | August 2022 Notes Due August 2032 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances 1,150,000,000    
Duke Energy (Parent) | August 2022 Notes Due August 2052 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances 1,150,000,000    
Duke Energy (Parent) | December 2022 Notes Due December 2025 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances 500,000,000    
Duke Energy (Parent) | December 2022 Notes Due December 2027 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances 500,000,000    
Duke Energy (Parent) | June 2022 Notes Due September 2030 | Tax Exempt Bonds      
Debt Instrument [Line Items]      
Debt issuances 168,000,000    
Duke Energy (Parent) | June 2022 Notes Due November 2039 | Tax Exempt Bonds      
Debt Instrument [Line Items]      
Debt issuances 234,000,000    
Duke Energy (Parent) | June 2021 Notes Due June 2023 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances   500,000,000  
Duke Energy (Parent) | June 2021 Notes Due June 2031 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances   1,000,000,000  
Duke Energy (Parent) | June 2021 Notes Due June 2041 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances   750,000,000  
Duke Energy (Parent) | June 2021 Notes Due June 2051 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances   750,000,000  
Duke Energy (Parent) | September 2021 Notes Due January 2082 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances   500,000,000  
Duke Energy Carolinas      
Debt Instrument [Line Items]      
Debt issuances 1,150,000,000 1,237,000,000  
Repayments of long-term debt 436,000,000 617,000,000 813,000,000
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 | November 2021 Notes Due July 2031 | Secured Debt      
Debt Instrument [Line Items]      
Debt issuances   100,000,000  
Duke Energy Carolinas | November 2021 Notes Due July 2041 | Secured Debt      
Debt Instrument [Line Items]      
Debt issuances   137,000,000  
Duke Energy Carolinas | April 2021 Notes Due April 2031 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Debt issuances   550,000,000  
Duke Energy Carolinas | April 2021 Notes Due April 2051 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Debt issuances   450,000,000  
Duke Energy Carolinas | Bonds Maturing June 2021, 3.900% Coupon | First Mortgage Bonds      
Debt Instrument [Line Items]      
Repayments of long-term debt   500,000,000  
Duke Energy Progress      
Debt Instrument [Line Items]      
Debt issuances 1,352,000,000 1,870,000,000  
Repayments of long-term debt 645,000,000 1,308,000,000 1,085,000,000
Duke Energy Progress | First Mortgage Bonds      
Debt Instrument [Line Items]      
Repayments of long-term debt   600,000,000  
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 | November 2021 Notes Due July 2028 | Secured Debt      
Debt Instrument [Line Items]      
Debt issuances   221,000,000  
Duke Energy Progress | November 2021 Notes Due July 2037 | Secured Debt      
Debt Instrument [Line Items]      
Debt issuances   352,000,000  
Duke Energy Progress | November 2021 Notes Due July 2041 (2) | Secured Debt      
Debt Instrument [Line Items]      
Debt issuances   197,000,000  
Duke Energy Progress | August 2021 Notes Due August 2031 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Debt issuances   650,000,000  
Duke Energy Progress | August 2021 Notes Due August 2051 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Debt issuances   450,000,000  
Duke Energy Florida      
Debt Instrument [Line Items]      
Debt issuances 500,000,000 1,150,000,000  
Repayments of long-term debt 77,000,000 575,000,000 572,000,000
Duke Energy Florida | November 2022 Notes Due November 2052 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Debt issuances 500,000,000    
Duke Energy Florida | December 2021 Notes Due December 2031 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Debt issuances   650,000,000  
Duke Energy Florida | December 2021 Notes Due December 2051 | First Mortgage Bonds      
Debt Instrument [Line Items]      
Debt issuances   500,000,000  
Piedmont      
Debt Instrument [Line Items]      
Debt issuances 400,000,000 350,000,000  
Repayments of long-term debt   160,000,000  
Piedmont | Unsecured Debt      
Debt Instrument [Line Items]      
Repayments of long-term debt   160,000,000  
Piedmont | May 2022 Notes Due May 2052 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances 400,000,000    
Piedmont | March 2021 Notes Due March 2031 | Unsecured Debt      
Debt Instrument [Line Items]      
Debt issuances   350,000,000  
Duke Energy Ohio      
Debt Instrument [Line Items]      
Repayments of long-term debt   50,000,000  
Duke Energy Indiana      
Debt Instrument [Line Items]      
Repayments of long-term debt $ 84,000,000 $ 70,000,000 $ 513,000,000
v3.22.4
Debt and Credit Facilities (Narrative) (Details)
 1 Months Ended 12 Months Ended
Mar. 09, 2022
USD ($)
Jan. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2022
Dec. 31, 2022
USD ($)
Dec. 31, 2022
EUR (€)
Oct. 31, 2022
USD ($)
Mar. 31, 2022
USD ($)
Mar. 01, 2022
USD ($)
Dec. 31, 2021
USD ($)
Debt Instrument [Line Items]                    
Debt issuances     $ 9,186,000,000   $ 9,186,000,000         $ 8,107,000,000
Demand notes, maximum amount available for sale     4,000,000,000   4,000,000,000          
Demand notes, maximum amount outstanding     2,000,000,000   2,000,000,000          
Principal amount of demand notes     897,000,000   897,000,000         1,066,000,000
Current maturities of long-term debt     4,154,000,000   4,154,000,000         3,387,000,000
Other loans outstanding against cash surrender value of life insurance policies     852,000,000   852,000,000         819,000,000
Other Loans                    
Debt Instrument [Line Items]                    
Current maturities of long-term debt     131,000,000   131,000,000          
Duke Energy Ohio                    
Debt Instrument [Line Items]                    
Current maturities of long-term debt     475,000,000   475,000,000          
Duke Energy Indiana                    
Debt Instrument [Line Items]                    
Current maturities of long-term debt     303,000,000   303,000,000         84,000,000
Duke Energy Progress                    
Debt Instrument [Line Items]                    
Debt issuances     1,352,000,000   1,352,000,000         1,870,000,000
Current maturities of long-term debt     369,000,000   369,000,000         556,000,000
Other loans outstanding against cash surrender value of life insurance policies     33,000,000   33,000,000         34,000,000
Progress Energy                    
Debt Instrument [Line Items]                    
Current maturities of long-term debt     697,000,000   697,000,000         1,082,000,000
Duke Energy Carolinas                    
Debt Instrument [Line Items]                    
Debt issuances     1,150,000,000   1,150,000,000         1,237,000,000
Current maturities of long-term debt     1,018,000,000   1,018,000,000         362,000,000
Duke Energy Florida                    
Debt Instrument [Line Items]                    
Debt issuances     500,000,000   500,000,000         1,150,000,000
Current maturities of long-term debt     328,000,000   328,000,000         76,000,000
Piedmont                    
Debt Instrument [Line Items]                    
Debt issuances     400,000,000   400,000,000         350,000,000
Current maturities of long-term debt     $ 45,000,000   $ 45,000,000         $ 0
Maximum                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower     0.65   0.65 0.65        
Maximum | Duke Energy Ohio                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower     0.65   0.65 0.65        
Maximum | Duke Energy Indiana                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower     0.65   0.65 0.65        
Maximum | Duke Energy Progress                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower     0.65   0.65 0.65        
Maximum | Progress Energy                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower     0.65   0.65 0.65        
Maximum | Duke Energy Carolinas                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower     0.65   0.65 0.65        
Maximum | Duke Energy Florida                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower     0.65   0.65 0.65        
Maximum | Piedmont                    
Debt Instrument [Line Items]                    
Debt to total capitalization percentage, for each borrower     0.70   0.70 0.70        
First Mortgage Bonds | Duke Energy Carolinas | Subsequent Event | January 2023 Notes                    
Debt Instrument [Line Items]                    
Debt issuances   $ 1,800,000,000                
Proceeds from issuance of debt   1,000,000,000                
First Mortgage Bonds | Duke Energy Carolinas | Subsequent Event | January 2023 Notes At 4.95%                    
Debt Instrument [Line Items]                    
Debt issuances   $ 900,000,000                
Term (in years)   10 years                
Interest Rate   4.95%                
First Mortgage Bonds | Duke Energy Carolinas | Subsequent Event | January 2023 Notes At 5.35%                    
Debt Instrument [Line Items]                    
Debt issuances   $ 900,000,000                
Term (in years)   30 years                
Interest Rate   5.35%                
Unsecured Debt | June 2022 Notes Due 2034                    
Debt Instrument [Line Items]                    
Debt issuances | €           € 500,000,000        
Interest Rate     3.85%   3.85% 3.85%        
Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Facility size     $ 9,000,000,000   $ 9,000,000,000     $ 9,000,000,000 $ 8,000,000,000  
Revolving Credit Facility | Duke Energy Ohio                    
Debt Instrument [Line Items]                    
Facility size     900,000,000   900,000,000          
Revolving Credit Facility | Duke Energy Indiana                    
Debt Instrument [Line Items]                    
Facility size     1,050,000,000   1,050,000,000          
Revolving Credit Facility | Duke Energy Progress                    
Debt Instrument [Line Items]                    
Facility size     800,000,000   800,000,000          
Revolving Credit Facility | Duke Energy Carolinas                    
Debt Instrument [Line Items]                    
Facility size     1,925,000,000   1,925,000,000          
Revolving Credit Facility | Duke Energy Florida                    
Debt Instrument [Line Items]                    
Facility size     1,150,000,000   1,150,000,000          
Revolving Credit Facility | Piedmont                    
Debt Instrument [Line Items]                    
Facility size     800,000,000   $ 800,000,000          
Revolving Credit Facility | Line of Credit | Progress Energy                    
Debt Instrument [Line Items]                    
Facility size               $ 2,500,000,000    
Revolving Credit Facility | Line of Credit | Duke Energy Florida                    
Debt Instrument [Line Items]                    
Facility size             $ 800,000,000      
Revolving Credit Facility | Line of Credit | Duke Energy (Parent)                    
Debt Instrument [Line Items]                    
Facility size $ 1,400,000,000                  
Extension period (in years) 2 years                  
Repayments of debt     $ 400,000,000              
June 2017 Three Year Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Term (in years)       3 years 3 years          
v3.22.4
Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) - USD ($)
Dec. 31, 2022
Mar. 31, 2022
Mar. 01, 2022
Dec. 31, 2021
Line of Credit Facility [Line Items]        
Tax-exempt bonds $ (1,331,000,000)     $ (360,000,000)
Duke Energy Progress        
Line of Credit Facility [Line Items]        
Tax-exempt bonds (500,000,000)     (48,000,000)
Duke Energy Ohio        
Line of Credit Facility [Line Items]        
Tax-exempt bonds (77,000,000)     (27,000,000)
Duke Energy Indiana        
Line of Credit Facility [Line Items]        
Tax-exempt bonds (352,000,000)     $ (285,000,000)
Revolving Credit Facility        
Line of Credit Facility [Line Items]        
Facility size 9,000,000,000 $ 9,000,000,000 $ 8,000,000,000  
Commercial paper (3,685,000,000)      
Outstanding letters of credit (40,000,000)      
Tax-exempt bonds (81,000,000)      
Available capacity 5,194,000,000      
Revolving Credit Facility | Parent Company        
Line of Credit Facility [Line Items]        
Facility size 2,375,000,000      
Commercial paper 463,000,000      
Outstanding letters of credit (27,000,000)      
Available capacity 2,811,000,000      
Revolving Credit Facility | Duke Energy Carolinas        
Line of Credit Facility [Line Items]        
Facility size 1,925,000,000      
Commercial paper (1,533,000,000)      
Outstanding letters of credit (4,000,000)      
Available capacity 388,000,000      
Revolving Credit Facility | Duke Energy Progress        
Line of Credit Facility [Line Items]        
Facility size 800,000,000      
Commercial paper (389,000,000)      
Outstanding letters of credit (2,000,000)      
Available capacity 409,000,000      
Revolving Credit Facility | Duke Energy Florida        
Line of Credit Facility [Line Items]        
Facility size 1,150,000,000      
Commercial paper (605,000,000)      
Outstanding letters of credit (7,000,000)      
Available capacity 538,000,000      
Revolving Credit Facility | Duke Energy Ohio        
Line of Credit Facility [Line Items]        
Facility size 900,000,000      
Commercial paper (522,000,000)      
Available capacity 378,000,000      
Revolving Credit Facility | Duke Energy Indiana        
Line of Credit Facility [Line Items]        
Facility size 1,050,000,000      
Commercial paper (585,000,000)      
Tax-exempt bonds (81,000,000)      
Available capacity 384,000,000      
Revolving Credit Facility | Piedmont        
Line of Credit Facility [Line Items]        
Facility size 800,000,000      
Commercial paper (514,000,000)      
Available capacity 286,000,000      
Proceeds Loaned To Subsidiary Registrants | Revolving Credit Facility | Parent Company        
Line of Credit Facility [Line Items]        
Commercial paper $ (625,000,000)      
v3.22.4
Guarantees and Indemnifications (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2022
Feb. 28, 2021
Jul. 31, 2020
Jan. 01, 2020
Oct. 31, 2017
Guarantor Obligations [Line Items]            
Unused letters of credit   $ 35        
Noncurrent Liabilities            
Guarantor Obligations [Line Items]            
Face value of guarantees $ 3 2        
Letters of credit            
Guarantor Obligations [Line Items]            
Maximum potential amount of future payments associated with guarantees   667        
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 | Current Liabilities | Atlantic Coast Pipeline (ACP)            
Guarantor Obligations [Line Items]            
Guarantor obligations settled     $ 855      
Atlantic Coast Pipeline (ACP) | Current Liabilities | Atlantic Coast Pipeline (ACP)            
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   33        
Performance guarantee | Spectra Capital            
Guarantor Obligations [Line Items]            
Maximum potential amount of future payments associated with guarantees   $ 40        
Financial guarantee | ACP            
Guarantor Obligations [Line Items]            
Maximum potential amount of future payments associated with guarantees $ 860          
Maximum exposure percentage 47.00%          
v3.22.4
Joint Ownership of Generating and Transmission Facilities (Schedule Joint Ownership of Generating and Transmission Facilities) (Details)
$ in Millions
Dec. 31, 2022
USD ($)
Duke Energy Carolinas | Catawba (units 1 and 2)  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest 19.25%
Property, plant, and equipment $ 1,047
Accumulated depreciation 546
Construction work in progress $ 32
Duke Energy Carolinas | W.S. Lee CC  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest 87.27%
Property, plant, and equipment $ 613
Accumulated depreciation 86
Construction work in progress $ 48
Duke Energy Indiana | Gibson (unit 5)  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest 50.05%
Property, plant, and equipment $ 450
Accumulated depreciation 241
Construction work in progress $ 2
Duke Energy Indiana | Vermillion  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest 62.50%
Property, plant, and equipment $ 182
Accumulated depreciation 113
Construction work in progress 1
Duke Energy Indiana | Transmission and local facilities  
Jointly Owned Utility Plant Interests [Line Items]  
Property, plant, and equipment 6,718
Accumulated depreciation 1,510
Construction work in progress $ 157
v3.22.4
Asset Retirement Obligations (Recorded on the Balance Sheet) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation $ 12,728 $ 12,600 $ 12,854
Less: Current portion 773 647  
Total noncurrent asset retirement obligation 11,955 11,953  
Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 7,261    
Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 5,176    
Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 291    
Duke Energy Carolinas      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 5,382 5,301 5,350
Less: Current portion 261 249  
Total noncurrent asset retirement obligation 5,121 5,052  
Duke Energy Carolinas | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 3,009    
Duke Energy Carolinas | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 2,309    
Duke Energy Carolinas | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 64    
Progress Energy      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 6,181 6,112 6,149
Less: Current portion 289 275  
Total noncurrent asset retirement obligation 5,892 5,837  
Progress Energy | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 4,217    
Progress Energy | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,862    
Progress Energy | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 102    
Duke Energy Progress      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 5,823 5,675 5,635
Less: Current portion 288 274  
Total noncurrent asset retirement obligation 5,535 5,401  
Duke Energy Progress | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 3,948    
Duke Energy Progress | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,833    
Duke Energy Progress | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 42    
Duke Energy Florida      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 358 437 514
Less: Current portion 1 1  
Total noncurrent asset retirement obligation 357 436  
Duke Energy Florida | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 270    
Duke Energy Florida | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 29    
Duke Energy Florida | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 59    
Duke Energy Ohio      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 154 136 111
Less: Current portion 17 13  
Total noncurrent asset retirement obligation 137 123  
Duke Energy Ohio | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 95    
Duke Energy Ohio | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 59    
Duke Energy Indiana      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 951 987 1,176
Less: Current portion 207 110  
Total noncurrent asset retirement obligation 744 877  
Duke Energy Indiana | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 911    
Duke Energy Indiana | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 40    
Piedmont      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 26 22 $ 20
Total noncurrent asset retirement obligation 26 $ 22  
Piedmont | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation $ 26    
v3.22.4
Asset Retirement Obligations (NDTF Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
NDTF Information [Abstract]    
Annual funding requirement $ 10  
Decommissioning costs 9,105  
Legally restricted NDTF investments, fair value 7,466 $ 8,933
Duke Energy Carolinas    
NDTF Information [Abstract]    
Decommissioning costs 4,365  
Legally restricted NDTF investments, fair value 4,208 5,068
Duke Energy Progress    
NDTF Information [Abstract]    
Annual funding requirement 10  
Decommissioning costs 4,181  
Legally restricted NDTF investments, fair value 3,258 $ 3,865
Duke Energy Florida    
NDTF Information [Abstract]    
Decommissioning costs $ 559  
v3.22.4
Asset Retirement Obligations (Narrative) (Details)
 12 Months Ended
Dec. 31, 2022
Nuclear Regulatory Commission  
Asset Retirement Obligation [Line Items]  
Operating license extension (in years) 20 years
v3.22.4
Asset Retirement Obligations (Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Asset Retirement Obligation [Line Items]    
Beginning Balance $ 12,600 $ 12,854
Accretion expense 501 504
Liabilities settled (680) (613)
Liabilities incurred in the current year 22 14
Revisions in estimates of cash flows 285 (159)
Ending Balance 12,728 12,600
Duke Energy Carolinas    
Asset Retirement Obligation [Line Items]    
Beginning Balance 5,301 5,350
Accretion expense 242 242
Liabilities settled (234) (210)
Liabilities incurred in the current year   8
Revisions in estimates of cash flows 73 (89)
Ending Balance 5,382 5,301
Progress Energy    
Asset Retirement Obligation [Line Items]    
Beginning Balance 6,112 6,149
Accretion expense 229 229
Liabilities settled (334) (324)
Liabilities incurred in the current year 18 6
Revisions in estimates of cash flows 156 52
Ending Balance 6,181 6,112
Duke Energy Progress    
Asset Retirement Obligation [Line Items]    
Beginning Balance 5,675 5,635
Accretion expense 215 212
Liabilities settled (228) (214)
Revisions in estimates of cash flows 161 42
Ending Balance 5,823 5,675
Duke Energy Florida    
Asset Retirement Obligation [Line Items]    
Beginning Balance 437 514
Accretion expense 14 17
Liabilities settled (106) (110)
Liabilities incurred in the current year 18 6
Revisions in estimates of cash flows (5) 10
Ending Balance 358 437
Duke Energy Ohio    
Asset Retirement Obligation [Line Items]    
Beginning Balance 136 111
Accretion expense 6 4
Liabilities settled (13) (3)
Revisions in estimates of cash flows 25 24
Ending Balance 154 136
Duke Energy Indiana    
Asset Retirement Obligation [Line Items]    
Beginning Balance 987 1,176
Accretion expense 30 35
Liabilities settled (98) (77)
Liabilities incurred in the current year 5  
Revisions in estimates of cash flows 27 (147)
Ending Balance 951 987
Piedmont    
Asset Retirement Obligation [Line Items]    
Beginning Balance 22 20
Accretion expense 1 1
Revisions in estimates of cash flows 3 1
Ending Balance $ 26 $ 22
v3.22.4
Property, Plant and Equipment (Schedule Of Property, Plant and Equipment) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Equipment, estimated useful life, years 13 years 13 years  
Land $ 2,232 $ 2,145  
Other buildings and improvements 6,090 5,276  
Equipment 2,959 2,659  
Construction in process 7,381 5,979  
Total property, plant and equipment 163,839 154,496  
Facilities to be retired, net 9 144  
Total net property, plant and equipment $ 111,748 $ 105,536  
Other, estimated useful life, in years 15 years 14 years  
Finance leases, gross $ 816 $ 958  
Accumulated amortization of finance leases 7 9  
Capitalized Interest Costs [Abstract]      
Capitalized interest 118 66 $ 96
Nuclear fuel      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Nuclear fuel 3,081 3,181  
Accumulated depreciation and amortization (1,683) (1,799)  
Regulated      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Accumulated depreciation and amortization $ (50,544) $ (47,611)  
Regulated | Electric generation, distribution and transmission      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Equipment, estimated useful life, years 39 years 40 years  
Plant - transmission and distribution $ 126,016 $ 120,855  
Regulated | Natural gas transmission and distribution      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Equipment, estimated useful life, years 56 years 54 years  
Plant - transmission and distribution $ 13,174 $ 12,079  
Regulated | Other buildings and improvements      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Equipment, estimated useful life, years 40 years 37 years  
Other buildings and improvements $ 2,537 $ 1,921  
Nonregulated      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Accumulated depreciation and amortization (1,556) (1,493)  
Accumulated amortization of finance leases $ 1 $ 1  
Nonregulated | Other buildings and improvements      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Equipment, estimated useful life, years 10 years 11 years  
Other buildings and improvements $ 369 $ 401  
Duke Energy Carolinas      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Land 565 543  
Other buildings and improvements 1,368 1,323  
Equipment 710 614  
Construction in process 2,671 2,078  
Total property, plant and equipment 54,650 51,874  
Facilities to be retired, net 0 102  
Total net property, plant and equipment 35,981 34,122  
Finance leases, gross 335 335  
Accumulated amortization of finance leases 51 33  
Capitalized Interest Costs [Abstract]      
Capitalized interest 50 29 28
Duke Energy Carolinas | Nuclear fuel      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Nuclear fuel 1,723 1,856  
Accumulated depreciation and amortization (934) (1,064)  
Duke Energy Carolinas | Regulated      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Accumulated depreciation and amortization (18,669) (17,854)  
Duke Energy Carolinas | Regulated | Electric generation, distribution and transmission      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Plant - transmission and distribution 46,640 44,910  
Duke Energy Carolinas | Regulated | Other buildings and improvements      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Other buildings and improvements 973 550  
Progress Energy      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Land 993 957  
Other buildings and improvements 1,943 1,563  
Equipment 936 791  
Construction in process 3,073 2,297  
Total property, plant and equipment 64,822 60,894  
Facilities to be retired, net   26  
Total net property, plant and equipment 44,238 41,706  
Finance leases, gross 674 729  
Accumulated amortization of finance leases 233 178  
Capitalized Interest Costs [Abstract]      
Capitalized interest 26 20 17
Progress Energy | Nuclear fuel      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Nuclear fuel 1,358 1,325  
Accumulated depreciation and amortization (749) (735)  
Progress Energy | Regulated      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Accumulated depreciation and amortization (20,584) (19,214)  
Progress Energy | Regulated | Electric generation, distribution and transmission      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Plant - transmission and distribution 55,872 53,447  
Progress Energy | Regulated | Other buildings and improvements      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Other buildings and improvements 647 514  
Duke Energy Progress      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Land 496 482  
Other buildings and improvements 1,460 1,115  
Equipment 567 497  
Construction in process 1,317 954  
Total property, plant and equipment 38,875 37,018  
Facilities to be retired, net   26  
Total net property, plant and equipment 24,674 23,657  
Finance leases, gross 590 627  
Accumulated amortization of finance leases 81 45  
Capitalized Interest Costs [Abstract]      
Capitalized interest 19 14 12
Duke Energy Progress | Nuclear fuel      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Nuclear fuel 1,358 1,325  
Accumulated depreciation and amortization (749) (735)  
Duke Energy Progress | Regulated      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Accumulated depreciation and amortization (14,201) (13,387)  
Duke Energy Progress | Regulated | Electric generation, distribution and transmission      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Plant - transmission and distribution 33,336 32,417  
Duke Energy Progress | Regulated | Other buildings and improvements      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Other buildings and improvements 341 228  
Duke Energy Florida      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Land 497 475  
Other buildings and improvements 476 437  
Equipment 369 294  
Construction in process 1,756 1,343  
Total property, plant and equipment 25,940 23,865  
Total net property, plant and equipment 19,563 18,046  
Finance leases, gross 84 102  
Accumulated amortization of finance leases 152 133  
Capitalized Interest Costs [Abstract]      
Capitalized interest 7 6 5
Duke Energy Florida | Regulated      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Accumulated depreciation and amortization (6,377) (5,819)  
Duke Energy Florida | Regulated | Electric generation, distribution and transmission      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Plant - transmission and distribution 22,536 21,030  
Duke Energy Florida | Regulated | Other buildings and improvements      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Other buildings and improvements 306 286  
Duke Energy Ohio      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Land 230 219  
Other buildings and improvements 380 287  
Equipment 441 403  
Construction in process 375 515  
Total property, plant and equipment 12,497 11,725  
Facilities to be retired, net   6  
Total net property, plant and equipment 9,247 8,625  
Capitalized Interest Costs [Abstract]      
Capitalized interest 14 20 26
Duke Energy Ohio | Regulated      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Accumulated depreciation and amortization (3,250) (3,106)  
Duke Energy Ohio | Regulated | Electric generation, distribution and transmission      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Plant - transmission and distribution 6,900 6,573  
Duke Energy Ohio | Regulated | Natural gas transmission and distribution      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Plant - transmission and distribution 3,773 3,347  
Duke Energy Ohio | Regulated | Other buildings and improvements      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Other buildings and improvements 398 381  
Duke Energy Indiana      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Land 124 122  
Other buildings and improvements 320 253  
Equipment 356 262  
Construction in process 381 460  
Total property, plant and equipment 18,121 17,343  
Total net property, plant and equipment 12,100 11,760  
Finance leases, gross 10 10  
Accumulated amortization of finance leases 4 3  
Capitalized Interest Costs [Abstract]      
PISCC Amortization   (17)  
Capitalized interest 3   10
Duke Energy Indiana | PISCC Amortization      
Capitalized Interest Costs [Abstract]      
PISCC Amortization   24  
Duke Energy Indiana | Debt Component      
Capitalized Interest Costs [Abstract]      
Capitalized interest   7  
Duke Energy Indiana | Regulated      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Accumulated depreciation and amortization (6,021) (5,583)  
Duke Energy Indiana | Regulated | Electric generation, distribution and transmission      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Plant - transmission and distribution 16,604 15,925  
Duke Energy Indiana | Regulated | Other buildings and improvements      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Other buildings and improvements 336 321  
Piedmont      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Land 295 279  
Other buildings and improvements 387 368  
Equipment 125 122  
Construction in process 478 262  
Total property, plant and equipment 10,869 9,918  
Facilities to be retired, net 9 11  
Total net property, plant and equipment 8,797 8,030  
Capitalized Interest Costs [Abstract]      
Capitalized interest 4 9 $ 8
Piedmont | Regulated      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Accumulated depreciation and amortization (2,081) (1,899)  
Piedmont | Regulated | Natural gas transmission and distribution      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Plant - transmission and distribution 9,401 8,732  
Piedmont | Regulated | Other buildings and improvements      
Public Utilities, Property, Plant and Equipment, Net [Abstract]      
Other buildings and improvements $ 183 $ 155  
v3.22.4
Property, Plant and Equipment (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2022
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
v3.22.4
Goodwill and Intangible Assets (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
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  
v3.22.4
Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount $ 273 $ 264
Accumulated amortization (8) (28)
Total intangible assets, net 265 236
Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 8 8
Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 210 204
Natural gas, coal and power contracts    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount   24
Accumulated amortization   (24)
Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 55 28
Accumulated amortization (8) (4)
Duke Energy Carolinas    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 84 73
Total intangible assets, net 84 73
Duke Energy Carolinas | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 84 73
Progress Energy    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 133 136
Accumulated amortization (1)  
Total intangible assets, net 132 136
Progress Energy | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 5 5
Progress Energy | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 124 131
Progress Energy | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 4  
Accumulated amortization (1)  
Duke Energy Progress    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 127 133
Total intangible assets, net 127 133
Duke Energy Progress | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 2 2
Duke Energy Progress | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 124 131
Duke Energy Progress | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 1  
Duke Energy Florida    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 6 3
Accumulated amortization (1)  
Total intangible assets, net 5 3
Duke Energy Florida | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 3 3
Duke Energy Florida | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 3  
Accumulated amortization (1)  
Duke Energy Ohio    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 2  
Total intangible assets, net 2  
Duke Energy Ohio | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 2  
Duke Energy Indiana    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 2 26
Accumulated amortization   (24)
Total intangible assets, net 2 2
Duke Energy Indiana | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 2 2
Duke Energy Indiana | Natural gas, coal and power contracts    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount   24
Accumulated amortization   $ (24)
Piedmont    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 22  
Accumulated amortization (2)  
Total intangible assets, net 20  
Piedmont | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Gross carrying amount 22  
Accumulated amortization $ (2)  
v3.22.4
Investments in Unconsolidated Affiliates (Investments in Equity Method Unconsolidated Affiliates) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Investments In Unconsolidated Affiliates [Line Items]      
Investments $ 455 $ 457  
Equity in earnings (losses) of unconsolidated affiliates 113 62 $ (2,005)
Electric Utilities and Infrastructure      
Investments In Unconsolidated Affiliates [Line Items]      
Investments 99 104  
Equity in earnings (losses) of unconsolidated affiliates 7 7 (1)
Gas Utilities and Infrastructure      
Investments In Unconsolidated Affiliates [Line Items]      
Investments 240 231  
Equity in earnings (losses) of unconsolidated affiliates 21 8 (2,017)
Other      
Investments In Unconsolidated Affiliates [Line Items]      
Investments 116 122  
Equity in earnings (losses) of unconsolidated affiliates $ 85 $ 47 $ 13
v3.22.4
Investments in Unconsolidated Affiliates (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Investments In Unconsolidated Affiliates [Line Items]      
Distributions from equity investments $ 111 $ 56 $ 34
Distributions from equity investments, return of capital $ 6 14 23
Electric Utilities and Infrastructure | DATC      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 50.00%    
Electric Utilities and Infrastructure | Pioneer      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 50.00%    
Gas Utilities and Infrastructure | Sabal Trail      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 7.50%    
Gas Utilities and Infrastructure | ACP      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 47.00%    
Gas Utilities and Infrastructure | SustainRNG      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 29.68%    
Gas Utilities and Infrastructure | Sustain T&W      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 70.00%    
Gas Utilities and Infrastructure | Sustain Liberty      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 70.00%    
Other | NMC      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 17.50%    
Board representation and voting rights, ownership percentage 25.00%    
Piedmont      
Investments In Unconsolidated Affiliates [Line Items]      
Distributions from equity investments $ 31 8 2
Distributions from equity investments, return of capital   $ 2 $ 2
Piedmont | Gas Utilities and Infrastructure | Cardinal      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 21.49%    
Piedmont | Gas Utilities and Infrastructure | Pine Needle      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 45.00%    
Piedmont | Gas Utilities and Infrastructure | Hardy Storage      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest 50.00%    
v3.22.4
Investments in Unconsolidated Affiliates (Significant Subsidiaries) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Investments In Unconsolidated Affiliates [Line Items]                      
Current assets $ 13,222       $ 9,940       $ 13,222 $ 9,940  
Noncurrent assets 53,116       54,111       53,116 54,111  
Current liabilities 18,873       15,931       18,873 15,931  
Noncurrent liabilities 40,299       42,072       40,299 42,072  
Membership interests 2,531       1,840       2,531 1,840  
Operating loss 1,194 $ 2,056 $ 1,448 $ 1,314 1,110 $ 1,726 $ 1,198 $ 1,466 6,012 5,500 $ 4,571
Net income (loss) $ (658) $ 1,413 $ 880 $ 820 $ 664 $ 1,276 $ 698 $ 941 2,455 3,579 1,082
Net loss attributable to Duke Energy                 $ 2,550 $ 3,908 1,377
Equity Method Investment, Nonconsolidated Investee or Group of Investees                      
Investments In Unconsolidated Affiliates [Line Items]                      
Operating loss                     (4,612)
Net income (loss)                     (4,512)
Net loss attributable to Duke Energy                     $ (2,121)
v3.22.4
Related Party Transactions (Other Revenue and Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Duke Energy Carolinas | Corporate governance and shared service expenses | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party $ 838 $ 894 $ 753
Duke Energy Carolinas | Indemnification coverages | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 28 24 20
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 600 207 114
Related party transaction, other revenues from transactions with related party 109 41 25
Duke Energy Carolinas | Intercompany natural gas transactions | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 12 11 15
Progress Energy | Corporate governance and shared service expenses | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 818 856 715
Progress Energy | Indemnification coverages | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 43 41 36
Progress Energy | Joint Dispatch Agreement (JDA) revenue | Duke Energy Carolinas      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 109 41 25
Related party transaction, other revenues from transactions with related party 600 207 114
Progress Energy | Intercompany natural gas transactions | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 76 75 75
Duke Energy Progress | Corporate governance and shared service expenses | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 469 504 420
Duke Energy Progress | Indemnification coverages | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 20 19 17
Duke Energy Progress | Joint Dispatch Agreement (JDA) revenue | Duke Energy Carolinas      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 109 41 25
Related party transaction, other revenues from transactions with related party 600 207 114
Duke Energy Progress | Intercompany natural gas transactions | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 76 75 75
Duke Energy Florida | Corporate governance and shared service expenses | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 349 352 295
Duke Energy Florida | Indemnification coverages | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 23 22 19
Duke Energy Ohio | Corporate governance and shared service expenses | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 334 329 326
Duke Energy Ohio | Indemnification coverages | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 5 4 4
Duke Energy Indiana | Corporate governance and shared service expenses | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 447 409 401
Duke Energy Indiana | Indemnification coverages | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 8 8 8
Piedmont | Corporate governance and shared service expenses | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 155 139 140
Piedmont | Indemnification coverages | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 3 3 3
Piedmont | Intercompany natural gas transactions | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, other revenues from transactions with related party 88 86 90
Piedmont | Natural gas storage and transportation costs | Affiliated entity      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party $ 23 $ 22 $ 23
v3.22.4
Related Party Transactions (Intercompany Income Taxes) (Details) - Affiliated entity - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Duke Energy Carolinas    
Related Party Transaction [Line Items]    
Intercompany income tax payable $ 37 $ 62
Progress Energy    
Related Party Transaction [Line Items]    
Intercompany income tax receivable 95  
Duke Energy Progress    
Related Party Transaction [Line Items]    
Intercompany income tax receivable 36  
Intercompany income tax payable   84
Duke Energy Florida    
Related Party Transaction [Line Items]    
Intercompany income tax receivable 17 40
Duke Energy Ohio    
Related Party Transaction [Line Items]    
Intercompany income tax receivable   19
Intercompany income tax payable 17  
Duke Energy Indiana    
Related Party Transaction [Line Items]    
Intercompany income tax payable 18 10
Piedmont    
Related Party Transaction [Line Items]    
Intercompany income tax payable $ 38 $ 27
v3.22.4
Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details)
Mcf in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
GWh
Mcf
Dec. 31, 2021
USD ($)
GWh
Mcf
Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 3,479 $ 3,592
Interest Rate Contracts | Designated contracts | Cash flow hedges    
Derivative [Line Items]    
Pay Notional 500 2,415
Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 2,979 $ 1,177
Commodity contracts | Electricity (GWh)    
Derivative [Line Items]    
Notional amount, energy measure, in gigawatt-hours | GWh 14,086 12,369
Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume in millions of dekatherms | Mcf 909 823
Duke Energy Carolinas | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 1,250 $ 350
Duke Energy Carolinas | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 1,250 $ 350
Duke Energy Carolinas | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume in millions of dekatherms | Mcf 307 264
Progress Energy | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 800 $ 500
Progress Energy | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 800 $ 500
Progress Energy | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume in millions of dekatherms | Mcf 292 215
Duke Energy Progress | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 500 $ 500
Duke Energy Progress | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 500 $ 500
Duke Energy Progress | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume in millions of dekatherms | Mcf 292 215
Duke Energy Florida | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 300  
Duke Energy Florida | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional 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, in gigawatt-hours | GWh 1,820 1,681
Duke Energy Indiana | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 300 $ 300
Duke Energy Indiana | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 300 $ 300
Duke Energy Indiana | Commodity contracts | Electricity (GWh)    
Derivative [Line Items]    
Notional amount, energy measure, in gigawatt-hours | GWh 12,266 10,688
Duke Energy Indiana | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume in millions of dekatherms | Mcf 11 8
Piedmont | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume in millions of dekatherms | Mcf 299 336
v3.22.4
Derivatives and Hedging (Foreign Exchange Risk) (Details) - Foreign Currency Contracts - Designated contracts
€ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2022
EUR (€)
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Pay Notional $ 1,182  
Receive notional | €   € 1,100
Fair value gain (loss) (5)  
Senior Notes, 3.10% Due June 2028    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Pay Notional $ 645  
Pay Rate 4.75% 4.75%
Receive notional | €   € 600
Rate 0.0310 0.0310
Fair value gain (loss) $ (3)  
Senior Notes, 3.85% Due June 2034    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Pay Notional $ 537  
Pay Rate 5.31% 5.31%
Receive notional | €   € 500
Rate 0.0385 0.0385
Fair value gain (loss) $ (2)  
v3.22.4
Derivatives and Hedging (Location and Fair Value Amounts of Derivatives Reflected in the Consolidated Balance Sheets) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Derivatives, Fair Value [Line Items]    
Gross amounts recognized $ 836 $ 320
Location and fair value amounts of derivatives liabilities 437 328
Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 594 204
Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 242 116
Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 193 157
Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 244 171
Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 478 312
Location and fair value amounts of derivatives liabilities 377 204
Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 358 8
Location and fair value amounts of derivatives liabilities 2 124
Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 58  
Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 101 3
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized   3
Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities   75
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities   21
Designated as Hedging Instruments | Foreign Currency Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 18  
Designated as Hedging Instruments | Foreign Currency Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 40  
Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 265 199
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 213 113
Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 175 72
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 202 132
Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 228 2
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 29  
Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities   10
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 2 18
Duke Energy Carolinas    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 330 162
Location and fair value amounts of derivatives liabilities 127 35
Duke Energy Carolinas | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 226 99
Duke Energy Carolinas | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 104 63
Duke Energy Carolinas | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 96 26
Duke Energy Carolinas | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 31 9
Duke Energy Carolinas | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 236 162
Location and fair value amounts of derivatives liabilities 127 27
Duke Energy Carolinas | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 94  
Location and fair value amounts of derivatives liabilities   8
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 132 99
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 104 63
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 96 18
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 31 9
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 94  
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities   8
Progress Energy    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 248 124
Location and fair value amounts of derivatives liabilities 66 24
Progress Energy | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 140 74
Progress Energy | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 108 50
Progress Energy | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 36 19
Progress Energy | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 30 5
Progress Energy | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 207 122
Location and fair value amounts of derivatives liabilities 66 24
Progress Energy | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 41 2
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 99 72
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 108 50
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 36 19
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 30 5
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 41 2
Duke Energy Progress    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 230 124
Location and fair value amounts of derivatives liabilities 48 10
Duke Energy Progress | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 122 74
Duke Energy Progress | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 108 50
Duke Energy Progress | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 18 5
Duke Energy Progress | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 30 5
Duke Energy Progress | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 207 122
Location and fair value amounts of derivatives liabilities 48 10
Duke Energy Progress | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 23 2
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 99 72
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 108 50
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 18 5
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 30 5
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 23 2
Duke Energy Florida    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 17  
Location and fair value amounts of derivatives liabilities 19 14
Duke Energy Florida | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 17  
Duke Energy Florida | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 19 14
Duke Energy Florida | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 19 14
Duke Energy Florida | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 17  
Duke Energy Florida | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 19 14
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 17  
Duke Energy Ohio    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 5 2
Location and fair value amounts of derivatives liabilities 2 5
Duke Energy Ohio | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 5 2
Duke Energy Ohio | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities   1
Duke Energy Ohio | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 2 4
Duke Energy Ohio | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 5 2
Duke Energy Ohio | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 2 5
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 5 2
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities   1
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 2 4
Duke Energy Indiana    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 110 23
Location and fair value amounts of derivatives liabilities 16 27
Duke Energy Indiana | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 110 23
Duke Energy Indiana | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 16 13
Duke Energy Indiana | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities   14
Duke Energy Indiana | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 29 23
Location and fair value amounts of derivatives liabilities 16 13
Duke Energy Indiana | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 81  
Location and fair value amounts of derivatives liabilities   14
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 29 23
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 16 13
Duke Energy Indiana | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized 81  
Duke Energy Indiana | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities   14
Piedmont    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized   3
Location and fair value amounts of derivatives liabilities 168 139
Piedmont | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized   3
Piedmont | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 27 21
Piedmont | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 141 118
Piedmont | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized   3
Location and fair value amounts of derivatives liabilities 168 139
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Gross amounts recognized   3
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities 27 21
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives liabilities $ 141 $ 118
v3.22.4
Derivatives and Hedging (Schedule of Offsetting Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 836 $ 320
Net amounts presented in Current Assets: Other 530 179
Net amounts presented in Other Noncurrent Assets: Other 145 93
Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 594 204
Gross amounts offset $ (64) $ (25)
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Current Assets: Other Current Assets: Other
Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 242 $ 116
Gross amounts offset $ (97) $ (23)
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other (including amounts related to VIEs) Other (including amounts related to VIEs)
Duke Energy Carolinas    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 330 $ 162
Net amounts presented in Current Assets: Other 193 83
Net amounts presented in Other Noncurrent Assets: Other 64 48
Duke Energy Carolinas | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 226 99
Gross amounts offset (33) (16)
Duke Energy Carolinas | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 104 63
Gross amounts offset (40) (15)
Progress Energy    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 248 124
Net amounts presented in Current Assets: Other 110 65
Net amounts presented in Other Noncurrent Assets: Other 51 42
Progress Energy | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 140 74
Gross amounts offset (30) (9)
Progress Energy | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 108 50
Gross amounts offset (57) (8)
Duke Energy Progress    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 230 124
Net amounts presented in Current Assets: Other 92 65
Net amounts presented in Other Noncurrent Assets: Other 51 42
Duke Energy Progress | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 122 74
Gross amounts offset (30) (9)
Duke Energy Progress | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 108 50
Gross amounts offset (57) (8)
Duke Energy Florida    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 17  
Net amounts presented in Current Assets: Other 17  
Duke Energy Florida | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 17  
Duke Energy Ohio    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 5 2
Net amounts presented in Current Assets: Other 5 2
Duke Energy Ohio | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 5 2
Duke Energy Indiana    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 110 23
Net amounts presented in Current Assets: Other 110 23
Duke Energy Indiana | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 110 23
Piedmont    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized   3
Net amounts presented in Current Assets: Other   3
Piedmont | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized   $ 3
v3.22.4
Derivatives and Hedging (Schedule of Offsetting Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 437 $ 328
Net amounts presented in Current Liabilities: Other 144 146
Net amounts presented in Other Noncurrent Liabilities: Other 185 159
Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 193 157
Gross amounts offset $ (49) $ (11)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] Current Liabilities: Other Current Liabilities: Other
Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 244 $ 171
Gross amounts offset $ (59) $ (12)
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other (includes amounts related to VIEs) Other (includes amounts related to VIEs)
Duke Energy Carolinas    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 127 $ 35
Net amounts presented in Current Liabilities: Other 81 20
Net amounts presented in Other Noncurrent Liabilities: Other 2 1
Duke Energy Carolinas | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 96 26
Gross amounts offset (15) (6)
Duke Energy Carolinas | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 31 9
Gross amounts offset (29) (8)
Progress Energy    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 66 24
Net amounts presented in Current Liabilities: Other 18 14
Progress Energy | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 36 19
Gross amounts offset (18) (5)
Progress Energy | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 30 5
Gross amounts offset (30) (5)
Duke Energy Progress    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 48 10
Duke Energy Progress | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 18 5
Gross amounts offset (18) (5)
Duke Energy Progress | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 30 5
Gross amounts offset (30) (5)
Duke Energy Florida    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 19 14
Net amounts presented in Current Liabilities: Other 19 14
Duke Energy Florida | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 19 14
Duke Energy Ohio    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 2 5
Net amounts presented in Current Liabilities: Other   1
Net amounts presented in Other Noncurrent Liabilities: Other 2 4
Duke Energy Ohio | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized   1
Duke Energy Ohio | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 2 4
Duke Energy Indiana    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 16 27
Net amounts presented in Current Liabilities: Other   13
Net amounts presented in Other Noncurrent Liabilities: Other   14
Duke Energy Indiana | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 16 13
Gross amounts offset (16)  
Duke Energy Indiana | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized   14
Piedmont    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 168 139
Net amounts presented in Current Liabilities: Other 27 21
Net amounts presented in Other Noncurrent Liabilities: Other 141 118
Piedmont | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 27 21
Piedmont | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 141 $ 118
v3.22.4
Derivatives and Hedging (Derivative Instruments with Credit-Risk Related Contingent Features and Cash Collateral) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features    
Aggregate fair value of derivatives in a net liability position $ 141 $ 32
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 141 32
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 86 18
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 86 18
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 55 14
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 55 14
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 48 10
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 48 10
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 4
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered $ 7 $ 4
v3.22.4
Investments in Debt and Equity Securities (Estimated Fair Value of Investments in Debt and Equity Securities) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Debt Securities, Available-for-sale    
Estimated Fair Value $ 2,815  
Total Investments    
Unrealized Holding Gains 3,682 $ 5,033
Unrealized Holding Losses 395 66
Estimated Fair Value 9,051 10,893
NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 3,658 4,905
Gross Unrealized Holding Losses 105 43
Estimated Fair Value 5,871 7,350
Debt Securities, Available-for-sale    
Estimated Fair Value 2,550 2,891
Total Investments    
Unrealized Holding Gains 3,661 4,992
Unrealized Holding Losses 359 63
Estimated Fair Value 8,636 10,401
NDTF | Cash and cash equivalents    
Available-for-sale Securities    
Cash and cash equivalents 215 160
NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 39
Gross Unrealized Holding Losses 85 6
Estimated Fair Value 641 829
NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   14
Gross Unrealized Holding Losses 39 1
Estimated Fair Value 330 314
NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 2 31
Gross Unrealized Holding Losses 112 12
Estimated Fair Value 1,423 1,568
NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   3
Gross Unrealized Holding Losses 18 1
Estimated Fair Value 156 180
Other Investments    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 21 36
Gross Unrealized Holding Losses 16  
Estimated Fair Value 128 156
Debt Securities, Available-for-sale    
Estimated Fair Value 265 300
Total Investments    
Unrealized Holding Gains 21 41
Unrealized Holding Losses 36 3
Estimated Fair Value 415 492
Other Investments | Cash and cash equivalents    
Available-for-sale Securities    
Cash and cash equivalents 22 36
Other Investments | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   2
Gross Unrealized Holding Losses 12 1
Estimated Fair Value 84 119
Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   3
Gross Unrealized Holding Losses 3 1
Estimated Fair Value 78 80
Other Investments | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 2  
Estimated Fair Value 62 56
Other Investments | Other debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 3 1
Estimated Fair Value 41 45
Duke Energy Carolinas    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,298  
Duke Energy Carolinas | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 2,147 2,887
Gross Unrealized Holding Losses 51 19
Estimated Fair Value 3,367 4,265
Debt Securities, Available-for-sale    
Estimated Fair Value 1,298 1,441
Total Investments    
Unrealized Holding Gains 2,149 2,932
Unrealized Holding Losses 192 27
Estimated Fair Value 4,782 5,759
Duke Energy Carolinas | NDTF | Cash and cash equivalents    
Available-for-sale Securities    
Cash and cash equivalents 117 53
Duke Energy Carolinas | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 24
Gross Unrealized Holding Losses 62 4
Estimated Fair Value 401 506
Duke Energy Carolinas | NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   2
Gross Unrealized Holding Losses 10  
Estimated Fair Value 64 48
Duke Energy Carolinas | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 16
Gross Unrealized Holding Losses 51 3
Estimated Fair Value 685 712
Duke Energy Carolinas | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 0 3
Gross Unrealized Holding Losses 18 1
Estimated Fair Value 148 175
Progress Energy    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,277  
Total Investments    
Unrealized Holding Gains 1,512 2,062
Unrealized Holding Losses 167 36
Estimated Fair Value 3,890 4,688
Progress Energy | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 1,511 2,018
Gross Unrealized Holding Losses 54 24
Estimated Fair Value 2,504 3,085
Debt Securities, Available-for-sale    
Estimated Fair Value 1,252 1,450
Total Investments    
Unrealized Holding Gains 1,512 2,060
Unrealized Holding Losses 167 36
Estimated Fair Value 3,854 4,642
Progress Energy | NDTF | Cash and cash equivalents    
Available-for-sale Securities    
Cash and cash equivalents 98 107
Progress Energy | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   15
Gross Unrealized Holding Losses 23 2
Estimated Fair Value 240 323
Progress Energy | NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   12
Gross Unrealized Holding Losses 29 1
Estimated Fair Value 266 266
Progress Energy | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 15
Gross Unrealized Holding Losses 61 9
Estimated Fair Value 738 856
Progress Energy | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Estimated Fair Value 8 5
Progress Energy | Other Investments    
Debt Securities, Available-for-sale    
Estimated Fair Value 25 26
Total Investments    
Unrealized Holding Gains   2
Estimated Fair Value 36 46
Progress Energy | Other Investments | Cash and cash equivalents    
Available-for-sale Securities    
Cash and cash equivalents 11 20
Progress Energy | Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   2
Estimated Fair Value 25 26
Duke Energy Progress    
Debt Securities, Available-for-sale    
Estimated Fair Value 963  
Total Investments    
Unrealized Holding Gains 1,432 1,957
Unrealized Holding Losses 142 29
Estimated Fair Value 3,439 4,105
Duke Energy Progress | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 1,431 1,915
Gross Unrealized Holding Losses 54 23
Estimated Fair Value 2,411 2,970
Debt Securities, Available-for-sale    
Estimated Fair Value 963 1,025
Total Investments    
Unrealized Holding Gains 1,432 1,957
Unrealized Holding Losses 142 29
Estimated Fair Value 3,430 4,089
Duke Energy Progress | NDTF | Cash and cash equivalents    
Available-for-sale Securities    
Cash and cash equivalents 56 94
Duke Energy Progress | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   15
Gross Unrealized Holding Losses 22 2
Estimated Fair Value 230 282
Duke Energy Progress | NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   12
Gross Unrealized Holding Losses 29 1
Estimated Fair Value 266 266
Duke Energy Progress | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 15
Gross Unrealized Holding Losses 37 3
Estimated Fair Value 460 472
Duke Energy Progress | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Estimated Fair Value 7 5
Duke Energy Progress | Other Investments    
Total Investments    
Estimated Fair Value 9 16
Duke Energy Progress | Other Investments | Cash and cash equivalents    
Available-for-sale Securities    
Cash and cash equivalents 9 16
Duke Energy Florida    
Debt Securities, Available-for-sale    
Estimated Fair Value 314  
Total Investments    
Unrealized Holding Gains 80 105
Unrealized Holding Losses 25 7
Estimated Fair Value 450 582
Duke Energy Florida | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 80 103
Gross Unrealized Holding Losses   1
Estimated Fair Value 93 115
Debt Securities, Available-for-sale    
Estimated Fair Value 289 425
Total Investments    
Unrealized Holding Gains 80 103
Unrealized Holding Losses 25 7
Estimated Fair Value 424 553
Duke Energy Florida | NDTF | Cash and cash equivalents    
Available-for-sale Securities    
Cash and cash equivalents 42 13
Duke Energy Florida | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 1  
Estimated Fair Value 10 41
Duke Energy Florida | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 24 6
Estimated Fair Value 278 384
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 25 26
Total Investments    
Unrealized Holding Gains   2
Estimated Fair Value 26 29
Duke Energy Florida | Other Investments | Cash and cash equivalents    
Available-for-sale Securities    
Cash and cash equivalents 1 3
Duke Energy Florida | Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   2
Estimated Fair Value 25 26
Duke Energy Indiana    
Debt Securities, Available-for-sale    
Estimated Fair Value 60  
Total Investments    
Unrealized Holding Gains 2 7
Unrealized Holding Losses 20 1
Estimated Fair Value 140 161
Duke Energy Indiana | Other Investments    
Available-for-sale Securities    
Cash and cash equivalents 1  
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 2 6
Gross Unrealized Holding Losses 16  
Estimated Fair Value 79 97
Debt Securities, Available-for-sale    
Estimated Fair Value 60 64
Duke Energy Indiana | Other Investments | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 1  
Estimated Fair Value 8 6
Duke Energy Indiana | Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   1
Gross Unrealized Holding Losses 3 1
Estimated Fair Value 45 46
Duke Energy Indiana | Other Investments | U.S. government bonds    
Debt Securities, Available-for-sale    
Estimated Fair Value $ 7 $ 12
v3.22.4
Investments in Debt and Equity Securities (Maturities) (Details)
$ in Millions
Dec. 31, 2022
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less $ 137
Due after one through five years 807
Due after five through 10 years 469
Due after 10 years 1,402
Total 2,815
Duke Energy Carolinas  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 7
Due after one through five years 287
Due after five through 10 years 230
Due after 10 years 774
Total 1,298
Progress Energy  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 89
Due after one through five years 443
Due after five through 10 years 193
Due after 10 years 552
Total 1,277
Duke Energy Progress  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 24
Due after one through five years 244
Due after five through 10 years 178
Due after 10 years 517
Total 963
Duke Energy Florida  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 65
Due after one through five years 199
Due after five through 10 years 15
Due after 10 years 35
Total 314
Duke Energy Indiana  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 8
Due after one through five years 22
Due after five through 10 years 6
Due after 10 years 24
Total $ 60
v3.22.4
Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
FV-NI:      
Realized gains $ 201 $ 724 $ 366
Realized losses 316 141 174
AFS:      
Realized gains 28 56 96
Realized losses 151 54 51
Duke Energy Carolinas      
FV-NI:      
Realized gains 124 440 64
Realized losses 177 96 99
AFS:      
Realized gains 22 38 60
Realized losses 86 37 37
Progress Energy      
FV-NI:      
Realized gains 77 284 302
Realized losses 139 45 75
AFS:      
Realized gains 6 16 24
Realized losses 48 14 13
Duke Energy Progress      
FV-NI:      
Realized gains 76 283 52
Realized losses 136 44 59
AFS:      
Realized gains 6 15 24
Realized losses 44 13 13
Duke Energy Florida      
FV-NI:      
Realized gains 1 1 250
Realized losses 3 1 $ 16
AFS:      
Realized gains   1  
Realized losses $ 4 $ 1  
v3.22.4
Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other (including amounts related to VIEs) Other (including amounts related to VIEs)
Debt securities, available-for-sale $ 2,815  
Derivative assets 836 $ 320
Total assets 9,887 11,213
Derivative liabilities $ (437) (327)
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other (includes amounts related to VIEs)  
Net assets (liabilities) $ 9,450 10,886
Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 1 3
Total assets 7,030 8,667
Derivative liabilities (16) (13)
Net assets (liabilities) 7,014 8,654
Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 801 293
Total assets 2,781 2,472
Derivative liabilities (421) (314)
Net assets (liabilities) 2,360 2,158
Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 34 24
Total assets 34 24
Net assets (liabilities) 34 24
Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 42 50
Net assets (liabilities) 42 50
NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 215 160
Equity securities, FV-NI 5,871 7,350
Debt securities, available-for-sale 2,550 2,891
NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 215 160
Debt securities, available-for-sale 780 967
NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 1,770 1,924
NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 5,871 7,350
NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 5,829 7,300
NDTF equity securities | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 42 50
Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 128 156
Debt securities, available-for-sale 265 300
Other Investments | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 128 156
Debt securities, available-for-sale 55 45
Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 210 255
Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 22 36
Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 22 36
Duke Energy Carolinas    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 1,298  
Derivative assets 330 162
Total assets 5,112 5,921
Derivative liabilities (127) (35)
Net assets (liabilities) 4,985 5,886
Duke Energy Carolinas | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 3,765 4,607
Net assets (liabilities) 3,765 4,607
Duke Energy Carolinas | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 330 162
Total assets 1,305 1,264
Derivative liabilities (127) (35)
Net assets (liabilities) 1,178 1,229
Duke Energy Carolinas | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 42 50
Net assets (liabilities) 42 50
Duke Energy Carolinas | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 117 53
Equity securities, FV-NI 3,367 4,265
Debt securities, available-for-sale 1,298 1,441
Duke Energy Carolinas | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 117 53
Equity securities, FV-NI   4,215
Debt securities, available-for-sale 323 339
Duke Energy Carolinas | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 975 1,102
Duke Energy Carolinas | NDTF | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI   50
Duke Energy Carolinas | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 3,367  
Duke Energy Carolinas | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 3,325  
Duke Energy Carolinas | NDTF equity securities | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 42  
Progress Energy    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 1,277  
Derivative assets 248 124
Total assets 4,138 4,812
Derivative liabilities (66) (24)
Net assets (liabilities) 4,072 4,788
Progress Energy | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 3,070 3,840
Net assets (liabilities) 3,070 3,840
Progress Energy | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 248 124
Total assets 1,068 972
Derivative liabilities (66) (24)
Net assets (liabilities) 1,002 948
Progress Energy | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 98 107
Equity securities, FV-NI 2,504 3,085
Debt securities, available-for-sale 1,252 1,450
Progress Energy | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 98 107
Debt securities, available-for-sale 457 628
Progress Energy | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 795 822
Progress Energy | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 2,504 3,085
Progress Energy | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 2,504 3,085
Progress Energy | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 25 26
Progress Energy | Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 25 26
Progress Energy | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 11 20
Progress Energy | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 11 20
Duke Energy Progress    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 963  
Derivative assets 230 124
Total assets 3,669 4,229
Derivative liabilities (48) (10)
Net assets (liabilities) 3,621 4,219
Duke Energy Progress | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 2,701 3,369
Net assets (liabilities) 2,701 3,369
Duke Energy Progress | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 230 124
Total assets 968 860
Derivative liabilities (48) (10)
Net assets (liabilities) 920 850
Duke Energy Progress | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 56 94
Equity securities, FV-NI 2,411 2,970
Debt securities, available-for-sale 963 1,025
Duke Energy Progress | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 56 94
Debt securities, available-for-sale 225 289
Duke Energy Progress | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 738 736
Duke Energy Progress | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 2,411 2,970
Duke Energy Progress | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 2,411 2,970
Duke Energy Progress | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 9 16
Duke Energy Progress | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 9 16
Duke Energy Florida    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 314  
Derivative assets 17  
Total assets 467 582
Derivative liabilities (19) (14)
Net assets (liabilities) 448 568
Duke Energy Florida | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 368 470
Net assets (liabilities) 368 470
Duke Energy Florida | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 17  
Total assets 99 112
Derivative liabilities (19) (14)
Net assets (liabilities) 80 98
Duke Energy Florida | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 42 13
Equity securities, FV-NI 93 115
Debt securities, available-for-sale 289 425
Duke Energy Florida | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 42 13
Debt securities, available-for-sale 232 339
Duke Energy Florida | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 57 86
Duke Energy Florida | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 93 115
Duke Energy Florida | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 93 115
Duke Energy Florida | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 25 26
Duke Energy Florida | Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 25 26
Duke Energy Florida | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 1 3
Duke Energy Florida | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 1 3
Duke Energy Indiana    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 60  
Derivative assets 110 23
Total assets 250 184
Derivative liabilities (16) (27)
Net assets (liabilities) 234 157
Duke Energy Indiana | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets   1
Total assets 80 98
Derivative liabilities (16) (13)
Net assets (liabilities) 64 85
Duke Energy Indiana | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 81  
Total assets 141 64
Derivative liabilities   (14)
Net assets (liabilities) 141 50
Duke Energy Indiana | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 29 22
Total assets 29 22
Net assets (liabilities) 29 22
Duke Energy Indiana | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 79 97
Debt securities, available-for-sale 60 64
Duke Energy Indiana | Other Investments | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities, FV-NI 79 97
Duke Energy Indiana | Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 60 64
Duke Energy Indiana | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 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  
Piedmont    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets   3
Derivative liabilities (168) (139)
Net assets (liabilities) (168) (136)
Piedmont | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets   3
Net assets (liabilities)   3
Piedmont | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities (168)  
Net assets (liabilities) $ (168)  
Piedmont | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities   (139)
Net assets (liabilities)   $ (139)
v3.22.4
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, 2022
Dec. 31, 2021
Derivatives (net)    
Balance at beginning of period $ 24 $ 8
Purchases 78 21
Settlements (36) (20)
Total gains (losses) included on the Consolidated Balance Sheet (32) 15
Ending balance 34 24
Duke Energy Indiana    
Derivatives (net)    
Balance at beginning of period 22 6
Purchases 74 18
Settlements (32) (16)
Total gains (losses) included on the Consolidated Balance Sheet (35) 14
Ending balance $ 29 $ 22
v3.22.4
Fair Value Measurements (Quantitative Level 3 Fair Value Disclosure) (Details)
$ in Millions
Dec. 31, 2022
USD ($)
$ / MWh
Dec. 31, 2021
USD ($)
$ / MWh
Dec. 31, 2020
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Net derivative asset (liability) | $ $ 34 $ 24 $ 8
Duke Energy Ohio | FTR price – per MWh | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Net derivative asset (liability) | $ $ 5 $ 2  
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) 0.89 0.06  
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) 6.25 1.79  
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) 3.35 0.96  
Duke Energy Indiana      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Net derivative asset (liability) | $ $ 29 $ 22 $ 6
Duke Energy Indiana | FTR price – per MWh | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Net derivative asset (liability) | $ $ 29 $ 22  
Duke Energy Indiana | FTR price – per MWh | Minimum | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 0.09 (1.18)  
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) 21.79 13.11  
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) 2.74 2.68  
v3.22.4
Fair Value Measurements (Other Fair Value Disclosures) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term Debt $ 71,215 $ 63,835
Long-term debt, fair value 63,454 69,683
Unamortized debt discount and premium, net 1,170 1,250
Duke Energy Carolinas    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term Debt 14,266 13,275
Long-term debt, fair value 12,943 15,101
Progress Energy    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term Debt 22,439 20,823
Long-term debt, fair value 20,467 23,751
Duke Energy Progress    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term Debt 11,087 10,249
Long-term debt, fair value 9,689 11,252
Duke Energy Florida    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term Debt 9,709 8,482
Long-term debt, fair value 8,991 9,772
Duke Energy Ohio    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term Debt 3,245 3,193
Long-term debt, fair value 2,927 3,570
Duke Energy Indiana    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term Debt 4,307 4,323
Long-term debt, fair value 3,913 5,067
Piedmont    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term Debt 3,363 2,968
Long-term debt, fair value $ 2,940 $ 3,278
v3.22.4
Variable Interest Entities (Narrative) (Details) - USD ($)
 1 Months Ended 12 Months Ended
Nov. 30, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Feb. 28, 2021
Consolidated VIEs          
Variable Interest Entity [Line Items]          
Financial support   $ 0 $ 0 $ 0  
ACP | Current Liabilities | Atlantic Coast Pipeline (ACP)          
Variable Interest Entity [Line Items]          
Guarantor obligations settled         $ 855,000,000
Atlantic Coast Pipeline (ACP) | Current Liabilities | Atlantic Coast Pipeline (ACP)          
Variable Interest Entity [Line Items]          
Guarantor obligations settled         $ 855,000,000
Atlantic Coast Pipeline (ACP) | Duke Energy (Parent)          
Variable Interest Entity [Line Items]          
Ownership interest   47.00%      
Repayments of debt       $ 855,000,000  
CRC          
Variable Interest Entity [Line Items]          
Variation in credit losses   10.00%      
Variation in discount rates   20.00%      
CRC | Consolidated VIEs          
Variable Interest Entity [Line Items]          
Percent of proceeds received as cash   75.00%      
Percent of proceeds received as subordinated note   25.00%      
Minimum Equity Balance required by Cinergy Receivables   $ 3,000,000      
CRC | Duke Energy Ohio | Non-consolidated VIEs          
Variable Interest Entity [Line Items]          
Fixed interest rate added to LIBOR to compute variable rate   1.00%      
DECNCSF | Duke Energy Carolinas | Consolidated VIEs          
Variable Interest Entity [Line Items]          
Proceeds from issuance of senior secured bonds $ 237,000,000        
DEPNCSF | Duke Energy Progress | Consolidated VIEs          
Variable Interest Entity [Line Items]          
Proceeds from issuance of senior secured bonds $ 770,000,000        
v3.22.4
Variable Interest Entities (Schedule of Accounts Receivable Securitizations) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Variable Interest Entity [Line Items]    
Long-Term Debt $ 67,061 $ 60,448
Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Long-Term Debt 12,948 12,595
Duke Energy Progress    
Variable Interest Entity [Line Items]    
Long-Term Debt 10,568 9,543
Duke Energy Florida    
Variable Interest Entity [Line Items]    
Long-Term Debt 9,381 8,406
CRC | Consolidated VIEs    
Variable Interest Entity [Line Items]    
Facility size 350  
Long-Term Debt 350 350
Restricted Receivables 917 587
DERF | Duke Energy Carolinas | Consolidated VIEs    
Variable Interest Entity [Line Items]    
Facility size 500  
Long-Term Debt 471 475
Restricted Receivables 928 844
DEPR | Duke Energy Progress | Consolidated VIEs    
Variable Interest Entity [Line Items]    
Facility size 400  
Long-Term Debt 400 350
Restricted Receivables 793 574
DEFR | Duke Energy Florida | Consolidated VIEs    
Variable Interest Entity [Line Items]    
Facility size 250  
Long-Term Debt 250 250
Restricted Receivables $ 490 $ 427
v3.22.4
Variable Interest Entities (Consolidated VIEs) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Variable Interest Entity [Line Items]    
Regulatory Assets: Current $ 3,485 $ 2,150
Current Assets: Other 1,067 584
Other Assets, Noncurrent 3,400 3,632
Other Noncurrent Assets: Regulatory assets 14,645 12,487
Current Liabilities: Other 2,167 2,423
Current maturities of long-term debt 4,154 3,387
Long-Term Debt 67,061 60,448
Duke Energy Florida    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 1,143 497
Current Assets: Other 108 80
Other Assets, Noncurrent 372 399
Other Noncurrent Assets: Regulatory assets 2,422 1,791
Current Liabilities: Other 363 408
Current maturities of long-term debt 328 76
Long-Term Debt 9,381 8,406
Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 1,095 544
Current Assets: Other 216 95
Other Assets, Noncurrent 1,036 1,248
Other Noncurrent Assets: Regulatory assets 4,293 2,935
Current Liabilities: Other 580 546
Current maturities of long-term debt 1,018 362
Long-Term Debt 12,948 12,595
Duke Energy Progress    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 690 533
Current Assets: Other 174 83
Other Assets, Noncurrent 650 792
Other Noncurrent Assets: Regulatory assets 4,724 4,118
Current Liabilities: Other 384 448
Current maturities of long-term debt 369 556
Long-Term Debt 10,568 9,543
DEFPF | Duke Energy Florida | Consolidated VIEs    
Variable Interest Entity [Line Items]    
Receivables of VIEs 6 5
Regulatory Assets: Current 55 54
Current Assets: Other 41 39
Other Noncurrent Assets: Regulatory assets 826 883
Current Liabilities: Other 9 9
Current maturities of long-term debt 56 56
Long-Term Debt 890 946
DECNCSF | Duke Energy Carolinas | Consolidated VIEs    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 12 12
Current Assets: Other 8  
Other Assets, Noncurrent 1 1
Other Noncurrent Assets: Regulatory assets 208 220
Current Liabilities: Other 3 1
Current maturities of long-term debt 10 5
Long-Term Debt 219 228
DEPNCSF | Duke Energy Progress | Consolidated VIEs    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 39 39
Current Assets: Other 29  
Other Assets, Noncurrent 2 4
Other Noncurrent Assets: Regulatory assets 681 720
Current Liabilities: Other 8 2
Current maturities of long-term debt 34 15
Long-Term Debt $ 714 $ 747
v3.22.4
Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Variable Interest Entity [Line Items]      
Investments in equity method unconsolidated affiliates $ 455 $ 457  
Other noncurrent assets 3,400 3,632  
Total Assets 178,086 169,587 $ 162,388
Other current liabilities 2,167 2,423  
Other noncurrent liabilities 1,502 1,348  
Duke Energy Ohio      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 247 122  
Other noncurrent assets 71 84  
Total Assets 11,506 10,774 $ 10,025
Other current liabilities 74 82  
Other noncurrent liabilities 96 101  
Duke Energy Ohio | Non-consolidated VIEs      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 198 79  
Total Assets 198 79  
Net (liabilities) assets 198 79  
Duke Energy Indiana      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 298 98  
Other noncurrent assets 254 296  
Total Assets 14,654 14,488  
Other current liabilities 161 105  
Other noncurrent liabilities 65 44  
Duke Energy Indiana | Non-consolidated VIEs      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 317 97  
Total Assets 317 97  
Net (liabilities) assets 317 97  
Pipeline Investments | Non-consolidated VIEs      
Variable Interest Entity [Line Items]      
Investments in equity method unconsolidated affiliates 43 15  
Other noncurrent assets 45 61  
Total Assets 88 76  
Other current liabilities 59 47  
Other noncurrent liabilities 47 54  
Total liabilities 106 101  
Net (liabilities) assets $ (18) $ (25)  
v3.22.4
Variable Interest Entities (Fair Value Assumptions) (Details) - CRC - Non-consolidated VIEs
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Duke Energy Ohio    
Variable Interest Entity [Line Items]    
Anticipated credit loss ratio 0.50% 0.50%
Discount rate 2.70% 1.10%
Receivable turnover rate 13.50% 13.50%
Duke Energy Indiana    
Variable Interest Entity [Line Items]    
Anticipated credit loss ratio 0.30% 0.30%
Discount rate 2.70% 1.10%
Receivable turnover rate 11.30% 11.30%
v3.22.4
Variable Interest Entities (Receivables Sold) (Details) - CRC - Non-consolidated VIEs - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Duke Energy Ohio    
Variable Interest Entity [Line Items]    
Receivables sold $ 423 $ 269
Less: Retained interests 198 79
Net receivables sold 225 190
Duke Energy Indiana    
Variable Interest Entity [Line Items]    
Receivables sold 508 328
Less: Retained interests 317 97
Net receivables sold $ 191 $ 231
v3.22.4
Variable Interest Entities (Sales and Cash Flows) (Details) - Non-consolidated VIEs - CRC - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Duke Energy Ohio      
Variable Interest Entity [Line Items]      
Receivables sold $ 2,562 $ 2,023 $ 1,905
Loss recognized on sale 18 10 10
Cash proceeds from receivables sold 2,424 2,018 1,875
Collection fees received 1 1 1
Return received on retained interests 10 4 4
Duke Energy Indiana      
Variable Interest Entity [Line Items]      
Receivables sold 3,744 2,909 2,631
Loss recognized on sale 26 13 12
Cash proceeds from receivables sold 3,498 2,909 2,586
Collection fees received 2 1 1
Return received on retained interests $ 15 $ 6 $ 5
v3.22.4
Revenue (Remaining Performance Obligations) (Details)
$ in Millions
Dec. 31, 2022
USD ($)
Progress Energy  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 184
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 61
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 66
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 $ 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]: 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 $ 36
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 16
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 8
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 8
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 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 Florida  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 168
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 53
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 58
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 $ 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]: 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 $ 36
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Indiana  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 71
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 11
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, 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 $ 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]: 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 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
Piedmont  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 532
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 68
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 62
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 $ 241
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
v3.22.4
Revenue (Disaggregation of Revenue) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 $ 28,675 $ 24,486 $ 23,253
Revenue from sources other than contracts with customers                 93 135 113
Total operating revenues $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 6,117 $ 6,834 $ 5,638 $ 6,032 28,768 24,621 23,366
Other                      
Disaggregation of Revenue [Line Items]                      
Total operating revenues                 1,411 1,064 1,001
Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 25,888 22,474 21,637
Total operating revenues                 25,990 22,570 21,687
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 11,377 10,097 9,806
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 7,356 6,375 6,194
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 3,504 2,924 2,859
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 2,856 2,199 1,864
Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 795 879 914
Total operating revenues                 1,106 977 944
Gas Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 2,757 1,983 1,590
Total operating revenues                 2,748 2,022 1,653
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,462 1,131 930
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 765 561 446
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 170 158 127
Gas Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 360 133 87
Total operating revenues                 305 87 57
Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 30 29 26
Total operating revenues                 30 29 26
Duke Energy Carolinas                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 7,855 7,145 7,028
Revenue from sources other than contracts with customers                 2 (43) (13)
Total operating revenues                 7,857 7,102 7,015
Duke Energy Carolinas | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 7,855 7,145 7,028
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 3,275 3,054 2,997
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 2,396 2,210 2,233
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,251 1,145 1,137
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 561 472 380
Duke Energy Carolinas | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 372 264 281
Progress Energy                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 13,082 10,962 10,521
Revenue from sources other than contracts with customers                 43 95 106
Total operating revenues                 13,125 11,057 10,627
Progress Energy | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 13,082 10,962 10,521
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 5,812 5,084 5,017
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 3,396 2,883 2,779
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,095 894 901
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,785 1,385 1,228
Progress Energy | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 994 716 596
Duke Energy Progress                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 6,742 5,719 5,348
Revenue from sources other than contracts with customers                 11 61 74
Total operating revenues                 6,753 5,780 5,422
Duke Energy Progress | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 6,742 5,719 5,348
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 2,378 2,156 2,059
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,480 1,378 1,312
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 770 634 649
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,346 1,164 1,034
Duke Energy Progress | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 768 387 294
Duke Energy Florida                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 6,340 5,243 5,173
Revenue from sources other than contracts with customers                 13 16 15
Total operating revenues                 6,353 5,259 5,188
Duke Energy Florida | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 6,340 5,243 5,173
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 3,434 2,928 2,958
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,916 1,505 1,467
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 325 260 252
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 439 221 194
Duke Energy Florida | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 226 329 302
Duke Energy Ohio                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 2,486 2,026 1,870
Revenue from sources other than contracts with customers                 28 11 (12)
Total operating revenues                 2,514 2,037 1,858
Duke Energy Ohio | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,769 1,481 1,419
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 862 767 726
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 517 440 442
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 202 135 137
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 127 56 32
Duke Energy Ohio | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 61 83 82
Duke Energy Ohio | Gas Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 717 545 451
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 488 354 300
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 180 143 117
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 24 20 17
Duke Energy Ohio | Gas Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 25 28 17
Duke Energy Indiana                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 3,837 3,134 2,783
Revenue from sources other than contracts with customers                 85 40 12
Total operating revenues                 3,922 3,174 2,795
Duke Energy Indiana | Electric Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 3,837 3,134 2,783
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,430 1,188 1,064
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,049 825 740
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 956 750 683
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 383 285 224
Duke Energy Indiana | Electric Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 19 86 72
Piedmont                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 2,068 1,469 1,173
Revenue from sources other than contracts with customers                 56 100 124
Total operating revenues                 2,124 1,569 1,297
Piedmont | Gas Utilities and Infrastructure                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 2,068 1,469 1,173
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 974 777 630
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 585 418 329
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 144 137 110
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Power Generation                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 94 92 34
Piedmont | Gas Utilities and Infrastructure | Other                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 $ 271 $ 45 $ 70
v3.22.4
Revenue (Reserve for Credit Losses for Trade and Other Receivables) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance $ 121 $ 146 $ 76
Cumulative Change in Accounting Principle 216 121 146
Write-Offs (158) (58) (58)
Credit Loss Expense 160 53 75
Other Adjustments 93 (20) 48
Ending balance 216 121 146
Duke Energy Carolinas      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 42 23 10
Cumulative Change in Accounting Principle 68 42 23
Write-Offs (73) (21) (13)
Credit Loss Expense 40 27 13
Other Adjustments 59 13 12
Ending balance 68 42 23
Progress Energy      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 36 37 16
Cumulative Change in Accounting Principle 81 36 37
Write-Offs (70) (25) (23)
Credit Loss Expense 72 25 29
Other Adjustments 43 (1) 13
Ending balance 81 36 37
Duke Energy Progress      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 21 23 8
Cumulative Change in Accounting Principle 44 21 23
Write-Offs (36) (12) (8)
Credit Loss Expense 17 11 9
Other Adjustments 42 (1) 13
Ending balance 44 21 23
Duke Energy Florida      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 16 14 7
Cumulative Change in Accounting Principle 36 16 14
Write-Offs (34) (13) (14)
Credit Loss Expense 55 14 20
Other Adjustments (1) 1  
Ending balance 36 16 14
Duke Energy Ohio      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 4 4 4
Cumulative Change in Accounting Principle 6 4 4
Credit Loss Expense 2    
Ending balance 6 4 4
Duke Energy Indiana      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 3 3 3
Cumulative Change in Accounting Principle 4 3 3
Credit Loss Expense 1    
Ending balance 4 3 3
Piedmont      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 15 12 6
Cumulative Change in Accounting Principle 14 15 12
Write-Offs (12) (9) (6)
Credit Loss Expense 11 7 11
Other Adjustments   5  
Ending balance $ 14 $ 15 12
Cumulative Change in Accounting Principle      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance     5
Cumulative Change in Accounting Principle      
Cumulative Change in Accounting Principle | Duke Energy Carolinas      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance     1
Cumulative Change in Accounting Principle      
Cumulative Change in Accounting Principle | Progress Energy      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance     2
Cumulative Change in Accounting Principle      
Cumulative Change in Accounting Principle | Duke Energy Progress      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance     1
Cumulative Change in Accounting Principle      
Cumulative Change in Accounting Principle | Duke Energy Florida      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance     1
Cumulative Change in Accounting Principle      
Cumulative Change in Accounting Principle | Piedmont      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance     $ 1
Cumulative Change in Accounting Principle      
v3.22.4
Revenue (Aging of Trade Receivables) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Financing Receivable, Past Due [Line Items]    
Unbilled receivables $ 1,457 $ 922
Current 2,347 1,941
Deferred Payment Arrangements 160 115
Trade and Other Receivables 4,631 3,643
1 - 30 days    
Financing Receivable, Past Due [Line Items]    
Past due 261 288
30-60 days    
Financing Receivable, Past Due [Line Items]    
Past due 123 98
60-90 days    
Financing Receivable, Past Due [Line Items]    
Past due 74 118
91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 209 161
Duke Energy Carolinas    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 486 316
Current 577 592
Deferred Payment Arrangements 57 55
Trade and Other Receivables 1,334 1,186
Duke Energy Carolinas | 1 - 30 days    
Financing Receivable, Past Due [Line Items]    
Past due 96 77
Duke Energy Carolinas | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Past due 23 30
Duke Energy Carolinas | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Past due 25 32
Duke Energy Carolinas | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 70 84
Progress Energy    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 355 266
Current 1,059 716
Deferred Payment Arrangements 62 45
Trade and Other Receivables 1,689 1,289
Progress Energy | 1 - 30 days    
Financing Receivable, Past Due [Line Items]    
Past due 60 128
Progress Energy | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Past due 61 49
Progress Energy | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Past due 18 48
Progress Energy | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 74 37
Duke Energy Progress    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 232 193
Current 637 405
Deferred Payment Arrangements 35 22
Trade and Other Receivables 1,004 722
Duke Energy Progress | 1 - 30 days    
Financing Receivable, Past Due [Line Items]    
Past due 15 44
Duke Energy Progress | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Past due 49 21
Duke Energy Progress | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Past due 9 28
Duke Energy Progress | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 27 9
Duke Energy Florida    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 123 73
Current 417 311
Deferred Payment Arrangements 27 23
Trade and Other Receivables 680 565
Duke Energy Florida | 1 - 30 days    
Financing Receivable, Past Due [Line Items]    
Past due 45 82
Duke Energy Florida | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Past due 12 28
Duke Energy Florida | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Past due 9 20
Duke Energy Florida | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 47 28
Duke Energy Ohio    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 20 4
Current 15 42
Deferred Payment Arrangements 4 2
Trade and Other Receivables 79 100
Duke Energy Ohio | 1 - 30 days    
Financing Receivable, Past Due [Line Items]    
Past due 5 4
Duke Energy Ohio | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Past due 6 1
Duke Energy Ohio | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Past due 3 23
Duke Energy Ohio | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 26 24
Duke Energy Indiana    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 28 27
Current 52 50
Trade and Other Receivables 116 103
Duke Energy Indiana | 1 - 30 days    
Financing Receivable, Past Due [Line Items]    
Past due 17 5
Duke Energy Indiana | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Past due 2 10
Duke Energy Indiana | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Past due 11 5
Duke Energy Indiana | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due 6 6
Piedmont    
Financing Receivable, Past Due [Line Items]    
Unbilled receivables 160 106
Current 265 202
Deferred Payment Arrangements 1 4
Trade and Other Receivables 450 333
Piedmont | 1 - 30 days    
Financing Receivable, Past Due [Line Items]    
Past due 15 12
Piedmont | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Past due 3 2
Piedmont | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Past due 2 4
Piedmont | 91+ days past due    
Financing Receivable, Past Due [Line Items]    
Past due $ 4 $ 3
v3.22.4
Revenue (Unbilled Revenues) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables $ 1,457 $ 922
Duke Energy Carolinas    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables 486 316
Progress Energy    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables 355 266
Duke Energy Progress    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables 232 193
Duke Energy Florida    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables 123 73
Duke Energy Ohio    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables 20 4
Duke Energy Ohio | CRC    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables 148 82
Duke Energy Indiana    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables 28 27
Duke Energy Indiana | CRC    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables 260 121
Piedmont    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Unbilled receivables $ 160 $ 106
v3.22.4
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, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Class of Stock [Line Items]                        
Net Income available to Duke Energy common stockholders   $ (650) $ 1,383 $ 893 $ 818 $ 732 $ 1,366 $ 751 $ 953 $ 2,444 $ 3,802 $ 1,270
Net income from discontinued operations attributable to Duke Energy Corporation                   (1,215) 200 289
Accumulated preferred stock dividends adjustment                       1
Less: Impact of participating securities                   2 3 2
Income from continuing operations available to Duke Energy common stockholders                   3,657 3,599 980
(Loss) Income from discontinued operations, net of tax   (1,293) 3 (18) (15) (36) (57) (25) (26) (1,323) (144) (7)
Loss From Discontinued Operations, net of tax   $ 1,293 $ (3) $ 18 $ 15 $ 36 $ 57 $ 25 $ 26 1,323 144 7
Add: Net loss attributable to noncontrolling interest included in discontinued operations                   $ 108 $ 344 $ 296
Weighted average common shares outstanding – basic (in shares)                   770 769 737
Equity forwards (in shares)                       1
Weighted average common shares outstanding – diluted (in shares)                   770 769 738
EPS from continuing operations available to Duke Energy common stockholders                        
Basic (usd per share)   $ 0.80 $ 1.78 $ 1.11 $ 1.06 $ 0.86 $ 1.69 $ 0.90 $ 1.22 $ 4.74 $ 4.68 $ 1.33
Diluted (usd per share)   0.80 $ 1.78 $ 1.11 $ 1.06 $ 0.86 $ 1.69 $ 0.90 $ 1.22 4.74 4.68 1.33
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders                        
Basic (usd per share)                   (1.57) 0.26 0.39
Diluted (usd per share)                   $ (1.57) $ 0.26 $ 0.39
Potentially dilutive items excluded from the calculation (in shares)                   2 2 2
Dividends declared per share (usd per share)                   $ 3.98 $ 3.90 $ 3.82
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 $ 49.292
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%                      
v3.22.4
Stockholders' Equity (Common Stock) (Details) - USD ($)
$ / shares in Units, $ in Billions
 1 Months Ended
Nov. 30, 2022
Jun. 15, 2024
Dec. 31, 2022
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
v3.22.4
Severance (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]      
Regulatory assets $ 18,130 $ 14,637  
Duke Energy Carolinas      
Restructuring Cost and Reserve [Line Items]      
Regulatory assets 5,388 3,479  
Duke Energy Carolinas | Employee Severance      
Restructuring Cost and Reserve [Line Items]      
Regulatory assets     $ 65
Duke Energy Progress      
Restructuring Cost and Reserve [Line Items]      
Regulatory assets $ 5,414 $ 4,651  
Duke Energy Progress | Employee Severance      
Restructuring Cost and Reserve [Line Items]      
Regulatory assets     $ 33
v3.22.4
Severance (Expenses) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
employee
Dec. 31, 2021
USD ($)
employee
Dec. 31, 2020
USD ($)
employee
Restructuring Cost and Reserve [Line Items]      
Number of eligible employees | employee 233 290 30
Severance expense $ 65 $ 69 $ (85)
Amortization of deferred severance charges 33 33  
Severance charges adjustments (19) (3) (6)
Unamortized deferred severance     (86)
Duke Energy Carolinas      
Restructuring Cost and Reserve [Line Items]      
Severance expense 40 33 (58)
Amortization of deferred severance charges 22 22  
Severance charges adjustments (6) (2) (2)
Unamortized deferred severance     (57)
Progress Energy      
Restructuring Cost and Reserve [Line Items]      
Severance expense 20 26 (28)
Amortization of deferred severance charges 11 11  
Severance charges adjustments (8)   (3)
Unamortized deferred severance     (29)
Duke Energy Progress      
Restructuring Cost and Reserve [Line Items]      
Severance expense 17 20 (31)
Amortization of deferred severance charges 11 11  
Severance charges adjustments (4)   (2)
Unamortized deferred severance     (29)
Duke Energy Florida      
Restructuring Cost and Reserve [Line Items]      
Severance expense 3 6 3
Severance charges adjustments (4)    
Duke Energy Ohio      
Restructuring Cost and Reserve [Line Items]      
Severance expense 1 2  
Severance charges adjustments (1)    
Duke Energy Indiana      
Restructuring Cost and Reserve [Line Items]      
Severance expense 2 3 0
Severance charges adjustments (2) (1)  
Piedmont      
Restructuring Cost and Reserve [Line Items]      
Severance expense 2 $ 2 $ 0
Severance charges adjustments $ (1)    
v3.22.4
Severance (Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Restructuring Reserve [Roll Forward]    
Balance, beginning of period $ 39 $ 11
Provision/Adjustments 33 36
Cash Reductions (8) (8)
Balance, end of period 64 39
Duke Energy Carolinas    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 2 2
Provision/Adjustments 14 1
Cash Reductions (1) (1)
Balance, end of period 15 2
Progress Energy    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 2 3
Provision/Adjustments 4 1
Cash Reductions   (2)
Balance, end of period 6 2
Duke Energy Progress    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 1 1
Provision/Adjustments 3 1
Cash Reductions   (1)
Balance, end of period 4 1
Duke Energy Florida    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 1 2
Provision/Adjustments 1  
Cash Reductions 0 (1)
Balance, end of period 2 1
Duke Energy Indiana    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period   1
Cash Reductions   $ (1)
Piedmont    
Restructuring Reserve [Roll Forward]    
Provision/Adjustments 1  
Balance, end of period $ 1  
v3.22.4
Stock-Based Compensation (Narrative) (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares reserved for awards to employees and outside directors (in shares) 10    
RSU awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total grant date fair value of shares vested $ 49 $ 45 $ 43
Unrecognized compensation cost $ 34    
Unrecognized compensation cost, period of recognition (in years) 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 $ 25 $ 25  
Unrecognized compensation cost $ 22    
Unrecognized compensation cost, period of recognition (in years) 22 months    
Risk free interest rate 1.78%    
Expected volatility rate 26.80%    
Performance awards | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percent 200.00%    
Performance awards | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percent 0.00%    
v3.22.4
Stock-Based Compensation (Schedule of Stock-Based Compensation Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized $ 74 $ 64 $ 61
Pretax stock-based compensation cost 100 88 84
Stock-based compensation costs capitalized 5 5 5
Stock-based compensation expense 95 83 79
Tax benefit associated with stock-based compensation expense 21 19 18
RSU awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Pretax stock-based compensation cost 58 49 46
Performance awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Pretax stock-based compensation cost 42 39 38
Duke Energy Carolinas      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 27 23 22
Progress Energy      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 27 24 23
Duke Energy Progress      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 17 15 15
Duke Energy Florida      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 10 9 9
Duke Energy Ohio      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 5 5 4
Duke Energy Indiana      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 7 6 6
Piedmont      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized $ 4 $ 3 $ 3
v3.22.4
Stock-Based Compensation (Summary of Stock Awards Outstanding) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
RSU awards      
Schedule Of Shares Awarded [Abstract]      
Shares granted (in thousands) 654 673 498
Fair value (in millions) $ 64 $ 59 $ 50
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Outstanding at beginning of period (in shares) 1,043    
Granted (in shares) 654 673 498
Vested (in shares) (527)    
Forfeited (in shares) (73)    
Outstanding at end of period (in shares) 1,097 1,043  
Stock awards expected to vest (in shares) 1,056    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]      
Weighted average fair value at beginning of period (usd per share) $ 92    
Granted (usd per share) 98    
Vested (usd per share) 93    
Forfeited (usd per share) 94    
Weighted average fair value at end of period (usd per share) 95 $ 92  
Weighted average fair value of awards expected to vest (usd per share) $ 95    
Performance awards      
Schedule Of Shares Awarded [Abstract]      
Shares granted (in thousands) 408 380 319
Fair value (in millions) $ 40 $ 33 $ 34
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Outstanding at beginning of period (in shares) 952    
Granted (in shares) 408 380 319
Vested (in shares) (297)    
Forfeited (in shares) (30)    
Outstanding at end of period (in shares) 1,033 952  
Stock awards expected to vest (in shares) 1,006    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]      
Weighted average fair value at beginning of period (usd per share) $ 93    
Granted (usd per share) 99    
Vested (usd per share) 86    
Forfeited (usd per share) 96    
Weighted average fair value at end of period (usd per share) 97 $ 93  
Weighted average fair value of awards expected to vest (usd per share) $ 97    
v3.22.4
Employee Benefit Plans (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Jan. 01, 2023
Defined Benefit Plan Disclosure [Line Items]        
Maximum years of participation (in years) 35 years      
Vesting period (in years) 3 years      
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      
Regulatory Assets, Noncurrent | Noncurrent assets        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge $ 95      
Master Trust        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation 100.00%      
Fair value of securities on loan $ 390 $ 542    
Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Employer contributions 58      
Pension Plan | Qualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (1,547) 513    
Average remaining service period (in years) 13 years      
Projected benefit obligation $ 6,358 8,207 $ 8,634  
Accumulated Benefit Obligation at measurement date 6,324 8,144    
Employer contributions 58      
Benefits paid $ 753 $ 615    
Expected long-term rate of return on plan assets 6.50% 6.50% 6.85%  
Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Projected benefit obligation $ 232      
Accumulated Benefit Obligation at measurement date 232      
Employer contributions 24      
Benefits paid $ 24      
Pension Plan | Master Trust        
Defined Benefit Plan Disclosure [Line Items]        
Master trust allocation percentage 98.00%      
Expected long-term rate of return on plan assets 6.50%      
Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (31) $ 15    
Average remaining service period (in years) 7 years      
Projected benefit obligation $ 437 625 $ 709  
Employer contributions 39      
Benefits paid $ 68 $ 73    
Expected long-term rate of return on plan assets 6.50% 6.50% 6.85%  
Other Post-Retirement Benefit Plans | Master Trust        
Defined Benefit Plan Disclosure [Line Items]        
Master trust allocation percentage 2.00%      
Expected long-term rate of return on plan assets 8.25%      
Target allocation 100.00%      
Duke Energy Progress | Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge $ 5      
Duke Energy Progress | Regulatory Assets, Noncurrent | Noncurrent assets        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 16      
Duke Energy Progress | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Employer contributions 8      
Duke Energy Progress | Pension Plan | Qualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (240) $ 79    
Average remaining service period (in years) 13 years      
Projected benefit obligation $ 909 1,153 $ 1,193  
Employer contributions 8      
Benefits paid 101 80    
Duke Energy Progress | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Projected benefit obligation 24      
Accumulated Benefit Obligation at measurement date 24      
Employer contributions 3      
Benefits paid $ 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 $ 95 147 166  
Employer contributions 11      
Benefits paid 13 16    
Duke Energy Ohio | Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 5      
Duke Energy Ohio | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Employer contributions 3      
Duke Energy Ohio | Pension Plan | Qualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (68) 26    
Average remaining service period (in years) 15 years      
Projected benefit obligation $ 333 450 502  
Accumulated Benefit Obligation at measurement date 327 439    
Employer contributions 3      
Benefits paid 50 50    
Duke Energy Ohio | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Projected benefit obligation 3      
Accumulated Benefit Obligation at measurement date 3      
Duke Energy Ohio | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (2) 1    
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 20 25 27  
Employer contributions 3      
Benefits paid 4 3    
Progress Energy | Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 5      
Progress Energy | Regulatory Assets, Noncurrent | Noncurrent assets        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 23      
Progress Energy | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Employer contributions 13      
Progress Energy | Pension Plan | Qualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (506) 169    
Average remaining service period (in years) 14 years      
Projected benefit obligation $ 1,975 2,560 2,715  
Accumulated Benefit Obligation at measurement date 1,959 2,529    
Employer contributions 13      
Benefits paid 184 161    
Progress Energy | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Projected benefit obligation 78      
Accumulated Benefit Obligation at measurement date 78      
Employer contributions 10      
Benefits paid $ 10      
Progress Energy | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Average remaining service period (in years) 5 years      
Projected benefit obligation $ 168 263 299  
Employer contributions 23      
Benefits paid $ 26 29    
Duke Energy Florida        
Defined Benefit Plan Disclosure [Line Items]        
Fair value evaluation period (in years) 5 years      
Duke Energy Florida | Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge $ 1      
Duke Energy Florida | Regulatory Assets, Noncurrent | Noncurrent assets        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 7      
Duke Energy Florida | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Employer contributions 5      
Duke Energy Florida | Pension Plan | Qualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (262) 90    
Average remaining service period (in years) 15 years      
Projected benefit obligation $ 1,055 1,392 1,507  
Accumulated Benefit Obligation at measurement date 1,038 1,361    
Employer contributions 5      
Benefits paid 82 81    
Duke Energy Florida | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Projected benefit obligation 32      
Accumulated Benefit Obligation at measurement date 32      
Employer contributions 4      
Benefits paid $ 4      
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 $ 69 112 130  
Employer contributions 11      
Benefits paid 13 13    
Duke Energy Carolinas | Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 3      
Duke Energy Carolinas | Regulatory Assets, Noncurrent | Noncurrent assets        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 35      
Duke Energy Carolinas | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Employer contributions 15      
Duke Energy Carolinas | Pension Plan | Qualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (411) 132    
Average remaining service period (in years) 12 years      
Projected benefit obligation $ 1,554 1,903 1,988  
Employer contributions 15      
Benefits paid 159 148    
Duke Energy Carolinas | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Projected benefit obligation 10      
Accumulated Benefit Obligation at measurement date 10      
Employer contributions 1      
Benefits paid 1      
Duke Energy Carolinas | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (19) 9    
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 112 149 174  
Employer contributions 3      
Benefits paid 16 19    
Duke Energy Indiana | Regulatory Assets, Noncurrent | Noncurrent assets        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 8      
Duke Energy Indiana | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Employer contributions 5      
Duke Energy Indiana | Pension Plan | Qualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (107) 37    
Average remaining service period (in years) 14 years      
Projected benefit obligation $ 499 680 715  
Accumulated Benefit Obligation at measurement date 495 672    
Employer contributions 5      
Benefits paid 66 52    
Duke Energy Indiana | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Projected benefit obligation 2      
Accumulated Benefit Obligation at measurement date $ 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 $ 30 54 61  
Employer contributions 4      
Benefits paid $ 8 9    
Piedmont        
Defined Benefit Plan Disclosure [Line Items]        
Term (in years) 3 years      
Piedmont | Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge $ 6      
Piedmont | Regulatory Assets, Noncurrent | Noncurrent assets        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 29      
Piedmont | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Employer contributions 2      
Piedmont | Pension Plan | Qualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (64) 19    
Average remaining service period (in years) 9 years      
Projected benefit obligation $ 170 273 293  
Accumulated Benefit Obligation at measurement date 170      
Employer contributions 2      
Benefits paid 69 28    
Piedmont | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Projected benefit obligation 3      
Accumulated Benefit Obligation at measurement date 3      
Piedmont | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ (7) 3    
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 21 27 $ 30  
Employer contributions 1      
Benefits paid $ 2 $ 2    
Liability Hedging Assets | Pension Plan | Master Trust | Subsequent Event        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation       35.00%
Liability Hedging Assets | Other Post-Retirement Benefit Plans | Master Trust | Subsequent Event        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation       80.00%
Return Seeking Assets | Pension Plan | Master Trust | Subsequent Event        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation       65.00%
Return Seeking Assets | Other Post-Retirement Benefit Plans | Master Trust | Subsequent Event        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation       20.00%
Minimum | Pension Plan | Qualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Expected long-term rate of return on plan assets      
v3.22.4
Employee Benefit Plans (Contributions to Defined Benefit Pension Plans) (Details) - Pension Plan
$ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
Defined Benefit Plan Disclosure [Line Items]  
Employer contributions $ 58
Duke Energy Carolinas  
Defined Benefit Plan Disclosure [Line Items]  
Employer contributions 15
Progress Energy  
Defined Benefit Plan Disclosure [Line Items]  
Employer contributions 13
Duke Energy Progress  
Defined Benefit Plan Disclosure [Line Items]  
Employer contributions 8
Duke Energy Florida  
Defined Benefit Plan Disclosure [Line Items]  
Employer contributions 5
Duke Energy Ohio  
Defined Benefit Plan Disclosure [Line Items]  
Employer contributions 3
Duke Energy Indiana  
Defined Benefit Plan Disclosure [Line Items]  
Employer contributions 5
Piedmont  
Defined Benefit Plan Disclosure [Line Items]  
Employer contributions $ 2
v3.22.4
Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pension Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Amortization of regulatory asset $ 3 $ 3 $ 4
Pension Plan | Qualified Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 152 176  
Service cost 145 168 165
Interest cost 249 220 269
Expected return on plan assets (558) (558) (572)
Amortization of prior service credit 81 133 128
Amortization of prior service cost (credit) (18) (29) (32)
Amortization of settlement charges(c)     18
Amortization of settlement charges 32 9  
MRVA method change 24    
Net periodic costs (38) (49) (24)
Pension Plan | Duke Energy Carolinas | Qualified Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 48 56  
Service cost 47 54 51
Interest cost 59 51 62
Expected return on plan assets (152) (141) (145)
Amortization of prior service credit 16 29 28
Amortization of prior service cost (credit) (3) (8) (8)
Amortization of settlement charges(c)     9
Amortization of settlement charges 9 5  
MRVA method change 0    
Net periodic costs (23) (8) (3)
Pension Plan | Progress Energy | Qualified Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 43 50  
Service cost 40 48 48
Interest cost 77 70 85
Expected return on plan assets (183) (187) (190)
Amortization of prior service credit 23 38 41
Amortization of prior service cost (credit)   (2) (3)
Amortization of settlement charges(c)     7
Amortization of settlement charges 8 2  
MRVA method change 24    
Net periodic costs (8) (29) (12)
Pension Plan | Duke Energy Progress | Qualified Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 25 29  
Service cost 24 28 27
Interest cost 35 30 38
Expected return on plan assets (88) (84) (87)
Amortization of prior service credit 12 18 18
Amortization of prior service cost (credit)   (1) (2)
Amortization of settlement charges(c)     6
Amortization of settlement charges 7 2  
MRVA method change 0    
Net periodic costs (9) (6)  
Pension Plan | Duke Energy Florida | Qualified Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 17 21  
Service cost 16 20 21
Interest cost 41 39 46
Expected return on plan assets (94) (102) (101)
Amortization of prior service credit 12 20 23
Amortization of prior service cost (credit)   (1) (1)
Amortization of settlement charges(c)     1
Amortization of settlement charges 1 1  
MRVA method change 24    
Net periodic costs 1 (22) (11)
Pension Plan | Duke Energy Ohio      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Amortization of regulatory asset 1 1 2
Pension Plan | Duke Energy Ohio | Qualified Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 4 5  
Service cost 4 5 5
Interest cost 13 13 15
Expected return on plan assets (23) (28) (28)
Amortization of prior service credit 4 7 6
Amortization of prior service cost (credit)   (1)  
Amortization of settlement charges 5    
MRVA method change 0    
Net periodic costs 3 (4) (2)
Pension Plan | Duke Energy Indiana | Qualified Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 9 10  
Service cost 8 9 9
Interest cost 20 18 22
Expected return on plan assets (37) (40) (42)
Amortization of prior service credit 9 13 12
Amortization of prior service cost (credit) (2) (2) (2)
Amortization of settlement charges(c)     1
Amortization of settlement charges 1    
MRVA method change 0    
Net periodic costs   (1)  
Pension Plan | Piedmont | Qualified Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 5 6  
Service cost 5 6 6
Interest cost 8 7 9
Expected return on plan assets (24) (20) (21)
Amortization of prior service credit 5 10 9
Amortization of prior service cost (credit) (7) (9) (9)
Amortization of settlement charges(c)     1
Amortization of settlement charges 7 1  
MRVA method change 0    
Net periodic costs (6) (5) (5)
Other Post-Retirement Benefit Plans      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 3 4 4
Interest cost 17 18 23
Expected return on plan assets (10) (11) (13)
Amortization of prior service credit 2 2 2
Amortization of prior service cost (credit) (8) (13) (14)
Net periodic costs 4   2
Amortization of regulatory asset 4 5 6
Other Post-Retirement Benefit Plans | Duke Energy Carolinas      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 1 1 1
Interest cost 4 4 5
Expected return on plan assets (6) (7) (8)
Amortization of prior service cost (credit) (3) (4) (4)
Net periodic costs (4) (6) (6)
Other Post-Retirement Benefit Plans | Progress Energy      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost   1 1
Interest cost 7 7 10
Amortization of prior service credit 1 1 1
Amortization of prior service cost (credit) (2) (2) (3)
Net periodic costs 6 7 9
Other Post-Retirement Benefit Plans | Duke Energy Progress      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost 4 4 5
Amortization of prior service credit 1    
Amortization of prior service cost (credit) (1) (1) (1)
Net periodic costs 4 3 4
Other Post-Retirement Benefit Plans | Duke Energy Florida      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost 3 3 4
Amortization of prior service credit 1 1 1
Amortization of prior service cost (credit) (1) (1) (2)
Net periodic costs 3 3 3
Other Post-Retirement Benefit Plans | Duke Energy Ohio      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost 1 1 1
Amortization of prior service cost (credit)   (1) (1)
Net periodic costs 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 1
Interest cost 1 1 2
Amortization of prior service credit   4 4
Amortization of prior service cost (credit)   (1) (1)
Net periodic costs 1 5 6
Other Post-Retirement Benefit Plans | Piedmont      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost 1 1 1
Expected return on plan assets (2) (2) (2)
Amortization of prior service cost (credit) (2) (2) (2)
Net periodic costs $ (3) $ (3) $ (3)
v3.22.4
Employee Benefit Plans (Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract]      
Net amount recognized in accumulated other comprehensive income [1] $ 19 $ (7) $ (6)
Progress Energy      
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract]      
Net amount recognized in accumulated other comprehensive income (5) (1) $ 1
Pension Plan | Qualified Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 367 (261)  
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract]      
Deferred income tax expense (7) 1  
Amortization of prior year actuarial gain 37 (8)  
Amortization of prior year service credit   1  
Net amount recognized in accumulated other comprehensive income 30 (6)  
Pension Plan | Duke Energy Carolinas | Qualified Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 221 (57)  
Pension Plan | Progress Energy | Qualified Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 107 (128)  
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract]      
Deferred income tax expense (1)    
Amortization of prior year actuarial gain 2 (1)  
Net amount recognized in accumulated other comprehensive income 1 (1)  
Pension Plan | Duke Energy Progress | Qualified Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 101 (31)  
Pension Plan | Duke Energy Florida | Qualified Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 5 (97)  
Pension Plan | Duke Energy Ohio | Qualified Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (1) (17)  
Pension Plan | Duke Energy Indiana | Qualified Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (12) (19)  
Pension Plan | Piedmont | Qualified Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) 9 (5)  
Other Post-Retirement Benefit Plans      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (79) (15)  
Regulatory liabilities, net increase (decrease) 27 23  
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract]      
Amortization of prior year actuarial gain 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 liabilities, net increase (decrease)   12  
Other Post-Retirement Benefit Plans | Progress Energy      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (80) (18)  
Other Post-Retirement Benefit Plans | Duke Energy Progress      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (45) (9)  
Other Post-Retirement Benefit Plans | Duke Energy Florida      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease) (36) (9)  
Other Post-Retirement Benefit Plans | Duke Energy Ohio      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (decrease)   4  
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) (3) (4)  
Regulatory liabilities, net increase (decrease) 19 1  
Other Post-Retirement Benefit Plans | Piedmont      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory liabilities, net increase (decrease) $ (5) $ 2  
[1] Net of income tax expense of approximately $52 million for the year ended December 31, 2022, and income tax benefit of approximately $17 million and $35 million for the years ended December 31, 2021, and 2020, respectively.
v3.22.4
Employee Benefit Plans (Projected Benefit Obligations Reconciliation of Funded Status to Net Amount Recognized) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pension Plan      
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions $ 58    
Pension Plan | Duke Energy Carolinas      
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 15    
Pension Plan | Progress Energy      
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 13    
Pension Plan | Duke Energy Progress      
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 8    
Pension Plan | Duke Energy Florida      
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 5    
Pension Plan | Duke Energy Ohio      
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 3    
Pension Plan | Duke Energy Indiana      
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 5    
Pension Plan | Piedmont      
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 2    
Pension Plan | Qualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 8,207 $ 8,634  
Service cost 145 168 $ 165
Interest cost 249 220 269
Actuarial gain (1,490) (200)  
Benefits paid (753) (615)  
Obligation at measurement date 6,358 8,207 8,634
Accumulated Benefit Obligation at measurement date 6,324 8,144  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 9,235 9,337  
Employer contributions 58    
Actual return on plan assets (1,547) 513  
Benefits paid (753) (615)  
Plan assets at measurement date 6,993 9,235 9,337
Funded status of plan 635 1,028  
Pension Plan | Qualified Plan | Duke Energy Carolinas      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 1,903 1,988  
Service cost 47 54 51
Interest cost 59 51 62
Actuarial gain (301) (42)  
Benefits paid (159) (148)  
Transfers 5    
Obligation at measurement date 1,554 1,903 1,988
Accumulated Benefit Obligation at measurement date 1,556 1,904  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 2,365 2,381  
Employer contributions 15    
Actual return on plan assets (411) 132  
Benefits paid (159) (148)  
Transfers 5    
Plan assets at measurement date 1,815 2,365 2,381
Funded status of plan 261 462  
Pension Plan | Qualified Plan | Progress Energy      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 2,560 2,715  
Service cost 40 48 48
Interest cost 77 70 85
Actuarial gain (513) (108)  
Benefits paid (184) (161)  
Transfers (5) (4)  
Obligation at measurement date 1,975 2,560 2,715
Accumulated Benefit Obligation at measurement date 1,959 2,529  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 3,053 3,049  
Employer contributions 13    
Actual return on plan assets (506) 169  
Benefits paid (184) (161)  
Transfers (5) (4)  
Plan assets at measurement date 2,371 3,053 3,049
Funded status of plan 396 493  
Pension Plan | Qualified Plan | Duke Energy Progress      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 1,153 1,193  
Service cost 24 28 27
Interest cost 35 30 38
Actuarial gain (197) (18)  
Benefits paid (101) (80)  
Transfers (5)    
Obligation at measurement date 909 1,153 1,193
Accumulated Benefit Obligation at measurement date 910 1,154  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 1,421 1,422  
Employer contributions 8    
Actual return on plan assets (240) 79  
Benefits paid (101) (80)  
Transfers (5)    
Plan assets at measurement date 1,083 1,421 1,422
Funded status of plan 174 268  
Pension Plan | Qualified Plan | Duke Energy Florida      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 1,392 1,507  
Service cost 16 20 21
Interest cost 41 39 46
Actuarial gain (312) (89)  
Benefits paid (82) (81)  
Transfers   (4)  
Obligation at measurement date 1,055 1,392 1,507
Accumulated Benefit Obligation at measurement date 1,038 1,361  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 1,610 1,605  
Employer contributions 5    
Actual return on plan assets (262) 90  
Benefits paid (82) (81)  
Transfers   (4)  
Plan assets at measurement date 1,271 1,610 1,605
Funded status of plan 216 218  
Pension Plan | Qualified Plan | Duke Energy Ohio      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 450 502  
Service cost 4 5 5
Interest cost 13 13 15
Actuarial gain (84) (10)  
Benefits paid (50) (50)  
Transfers   (10)  
Obligation at measurement date 333 450 502
Accumulated Benefit Obligation at measurement date 327 439  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 438 472  
Employer contributions 3    
Actual return on plan assets (68) 26  
Benefits paid (50) (50)  
Transfers   (10)  
Plan assets at measurement date 323 438 472
Funded status of plan (10) (12)  
Pension Plan | Qualified Plan | Duke Energy Indiana      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 680 715  
Service cost 8 9 9
Interest cost 20 18 22
Actuarial gain (143) (10)  
Benefits paid (66) (52)  
Obligation at measurement date 499 680 715
Accumulated Benefit Obligation at measurement date 495 672  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 669 684  
Employer contributions 5    
Actual return on plan assets (107) 37  
Benefits paid (66) (52)  
Plan assets at measurement date 501 669 684
Funded status of plan 2 (11)  
Pension Plan | Qualified Plan | Piedmont      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 273 293  
Service cost 5 6 6
Interest cost 8 7 9
Actuarial gain (47) (5)  
Benefits paid (69) (28)  
Obligation at measurement date 170 273 293
Accumulated Benefit Obligation at measurement date   274  
Accumulated Benefit Obligation at measurement date 170    
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 334 343  
Employer contributions 2    
Actual return on plan assets (64) 19  
Benefits paid (69) (28)  
Plan assets at measurement date 203 334 343
Funded status of plan 33 61  
Other Post-Retirement Benefit Plans      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 625 709  
Service cost 3 4 4
Interest cost 17 18 23
Plan participants' contributions 11 14  
Actuarial gain (80) (47)  
Plan amendments (71)    
Benefits paid (68) (73)  
Obligation at measurement date 437 625 709
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 211 237  
Employer contributions 39    
Actual return on plan assets (31) 15  
Benefits paid (68) (73)  
Plan participants' contributions 11 14  
Employer contributions   18  
Plan assets at measurement date 162 211 237
Funded status of plan (275) (414)  
Other Post-Retirement Benefit Plans | Duke Energy Carolinas      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 149 174  
Service cost 1 1 1
Interest cost 4 4 5
Plan participants' contributions 2 3  
Actuarial gain (17) (14)  
Plan amendments (11)    
Benefits paid (16) (19)  
Obligation at measurement date 112 149 174
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 135 139  
Employer contributions 3    
Actual return on plan assets (19) 9  
Benefits paid (16) (19)  
Plan participants' contributions 2 3  
Employer contributions   3  
Plan assets at measurement date 105 135 139
Funded status of plan (7) (14)  
Other Post-Retirement Benefit Plans | Progress Energy      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 263 299  
Service cost   1 1
Interest cost 7 7 10
Plan participants' contributions 4 5  
Actuarial gain (43) (20)  
Plan amendments (37)    
Benefits paid (26) (29)  
Obligation at measurement date 168 263 299
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date (1) (1)  
Employer contributions 23    
Benefits paid (26) (29)  
Plan participants' contributions 4 5  
Employer contributions   24  
Plan assets at measurement date   (1) (1)
Funded status of plan (168) (264)  
Other Post-Retirement Benefit Plans | Duke Energy Progress      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 147 166  
Interest cost 4 4 5
Plan participants' contributions 2 3  
Actuarial gain (27) (10)  
Plan amendments (18)    
Benefits paid (13) (16)  
Obligation at measurement date 95 147 166
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date (2) (2)  
Employer contributions 11    
Benefits paid (13) (16)  
Plan participants' contributions 2 3  
Employer contributions   13  
Plan assets at measurement date (2) (2) (2)
Funded status of plan (97) (149)  
Other Post-Retirement Benefit Plans | Duke Energy Florida      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 112 130  
Interest cost 3 3 4
Plan participants' contributions 2 2  
Actuarial gain (16) (10)  
Plan amendments (19)    
Benefits paid (13) (13)  
Obligation at measurement date 69 112 130
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date (2) (1)  
Employer contributions 11    
Benefits paid (13) (13)  
Plan participants' contributions 2 2  
Employer contributions   10  
Plan assets at measurement date (2) (2) (1)
Funded status of plan (71) (114)  
Other Post-Retirement Benefit Plans | Duke Energy Ohio      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 25 27  
Interest cost 1 1 1
Plan participants' contributions 1 1  
Actuarial gain (3) (1)  
Benefits paid (4) (3)  
Obligation at measurement date 20 25 27
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 9 9  
Employer contributions 3    
Actual return on plan assets (2) 1  
Benefits paid (4) (3)  
Plan participants' contributions 1 1  
Employer contributions   1  
Plan assets at measurement date 7 9 9
Funded status of plan (13) (16)  
Other Post-Retirement Benefit Plans | Duke Energy Indiana      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 54 61  
Service cost   1 1
Interest cost 1 1 2
Plan participants' contributions 1 2  
Actuarial gain (1) (2)  
Plan amendments (17)    
Benefits paid (8) (9)  
Obligation at measurement date 30 54 61
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 6 7  
Employer contributions 4    
Benefits paid (8) (9)  
Plan participants' contributions 1 2  
Employer contributions   6  
Plan assets at measurement date 3 6 7
Funded status of plan (27) (48)  
Other Post-Retirement Benefit Plans | Piedmont      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 27 30  
Interest cost 1 1 1
Actuarial gain (5) (2)  
Benefits paid (2) (2)  
Obligation at measurement date 21 27 30
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 39 37  
Employer contributions 1    
Actual return on plan assets (7) 3  
Benefits paid (2) (2)  
Employer contributions   1  
Plan assets at measurement date 31 39 $ 37
Funded status of plan $ 10 $ 12  
v3.22.4
Employee Benefit Plans (Amounts Recognized in Consolidated Balance Sheets) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability $ 832 $ 855
Regulatory assets 18,130 14,637
Regulatory liabilities 15,048 17,363
Duke Energy Carolinas    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 38 50
Regulatory assets 5,388 3,479
Regulatory liabilities 6,313 7,685
Progress Energy    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 292 417
Regulatory assets 8,979 6,939
Regulatory liabilities 5,329 6,044
Duke Energy Progress    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 160 221
Regulatory assets 5,414 4,651
Regulatory liabilities 4,452 5,249
Duke Energy Florida    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 111 166
Regulatory assets 3,565 2,288
Regulatory liabilities 877 796
Duke Energy Ohio    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 90 109
Regulatory assets 684 707
Regulatory liabilities 633 801
Duke Energy Indiana    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 122 167
Regulatory assets 1,124 1,555
Regulatory liabilities 1,641 1,692
Piedmont    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 7 7
Regulatory assets 511 457
Regulatory liabilities 1,098 1,114
Pension Plan | Qualified Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 885 1,071
Noncurrent pension liability 250 43
Net amount recognized (635) (1,028)
Regulatory assets 2,016 1,649
Accumulated other comprehensive (income) loss    
Deferred income tax asset (27) (20)
Prior service credit (1) (1)
Net actuarial loss (gain) 129 92
Net amount recognized in accumulated other comprehensive income (loss) 101 71
Pension Plan | Duke Energy Carolinas | Qualified Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 261 462
Net amount recognized (261) (462)
Regulatory assets 545 324
Pension Plan | Progress Energy | Qualified Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 396 494
Noncurrent pension liability   1
Net amount recognized (396) (493)
Regulatory assets 670 563
Accumulated other comprehensive (income) loss    
Deferred income tax asset (1)  
Net actuarial loss (gain) 3 1
Net amount recognized in accumulated other comprehensive income (loss) 2 1
Pension Plan | Duke Energy Progress | Qualified Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 174 268
Net amount recognized (174) (268)
Regulatory assets 353 252
Pension Plan | Duke Energy Florida | Qualified Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 216 219
Noncurrent pension liability   1
Net amount recognized (216) (218)
Regulatory assets 316 311
Pension Plan | Duke Energy Ohio | Qualified Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 62 74
Noncurrent pension liability 72 86
Net amount recognized 10 12
Regulatory assets 92 93
Pension Plan | Duke Energy Indiana | Qualified Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 90 100
Noncurrent pension liability 88 111
Net amount recognized (2) 11
Regulatory assets 178 190
Pension Plan | Piedmont | Qualified Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 33 61
Net amount recognized (33) (61)
Regulatory assets 84 75
Other Post-Retirement Benefit Plans    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension   12
Current pension liability 9 9
Noncurrent pension liability 266 417
Net amount recognized 275 414
Regulatory assets 50 129
Regulatory liabilities 189 162
Accumulated other comprehensive (income) loss    
Deferred income tax liability 3 3
Prior service credit (1) (1)
Net actuarial loss (gain) (13) (14)
Net amount recognized in accumulated other comprehensive income (loss) (11) (12)
Other Post-Retirement Benefit Plans | Duke Energy Carolinas    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 7 14
Net amount recognized 7 14
Regulatory liabilities 44 44
Other Post-Retirement Benefit Plans | Progress Energy    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 5 5
Noncurrent pension liability 163 259
Net amount recognized 168 264
Regulatory assets 46 126
Other Post-Retirement Benefit Plans | Duke Energy Progress    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 3 3
Noncurrent pension liability 94 146
Net amount recognized 97 149
Regulatory assets 34 79
Other Post-Retirement Benefit Plans | Duke Energy Florida    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 2 2
Noncurrent pension liability 69 112
Net amount recognized 71 114
Regulatory assets 11 47
Other Post-Retirement Benefit Plans | Duke Energy Ohio    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 1 1
Current pension liability 2 1
Noncurrent pension liability 12 16
Net amount recognized 13 16
Regulatory assets 4 4
Regulatory liabilities 21 21
Other Post-Retirement Benefit Plans | Duke Energy Indiana    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 27 48
Net amount recognized 27 48
Regulatory assets 25 28
Regulatory liabilities 82 63
Other Post-Retirement Benefit Plans | Piedmont    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 10 12
Net amount recognized $ (10) (12)
Regulatory liabilities   $ 5
v3.22.4
Employee Benefit Plans (Information For Plans with Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - Pension Plan - Qualified Plan - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
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 103 $ 153
Accumulated benefit obligation 99 143
Fair value of plan assets 31 67
Duke Energy Indiana    
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract]    
Projected benefit obligation 198 284
Accumulated benefit obligation 193 275
Fair value of plan assets $ 110 $ 173
v3.22.4
Employee Benefit Plans (Assumptions Used For Pension Benefits Accounting) (Details)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pension Plan | Qualified Plan      
Benefit Obligations [Abstract]      
Discount rate 5.60% 2.90% 2.60%
Interest crediting rate 4.35% 4.00% 4.00%
Net Periodic Benefit Cost [Abstract]      
Discount rate   2.60% 3.30%
Interest crediting rate 4.00% 4.00% 4.00%
Expected long-term rate of return on plan assets 6.50% 6.50% 6.85%
Pension Plan | Minimum | Qualified Plan      
Benefit Obligations [Abstract]      
Salary increase 3.50% 3.50% 3.50%
Net Periodic Benefit Cost [Abstract]      
Discount rate 2.90%    
Salary increase 3.50% 3.50% 3.50%
Expected long-term rate of return on plan assets    
Pension Plan | Maximum | Qualified Plan      
Benefit Obligations [Abstract]      
Salary increase 4.00% 4.00% 4.00%
Net Periodic Benefit Cost [Abstract]      
Discount rate 5.70%    
Salary increase 4.00% 4.00% 4.00%
Other Post-Retirement Benefit Plans      
Benefit Obligations [Abstract]      
Discount rate 5.60% 2.90% 2.60%
Net Periodic Benefit Cost [Abstract]      
Discount rate 2.90% 2.60% 3.30%
Expected long-term rate of return on plan assets 6.50% 6.50% 6.85%
v3.22.4
Employee Benefit Plans (Assumed Health Care Cost Trend Rates) (Details)
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]    
Health care cost trend rate assumed for next year 6.50% 6.25%
Rate to which the cost trend is assumed to decline (the ultimate trend rate) 4.75% 4.75%
v3.22.4
Employee Benefit Plans (Expected Benefit Payments) (Details)
$ in Millions
Dec. 31, 2022
USD ($)
Pension Plan | Qualified Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 $ 661
2024 635
2025 629
2026 607
2027 592
2028-2032 2,581
Pension Plan | Duke Energy Carolinas | Qualified Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 186
2024 176
2025 174
2026 164
2027 156
2028-2032 628
Pension Plan | Progress Energy | Qualified Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 183
2024 180
2025 183
2026 180
2027 177
2028-2032 804
Pension Plan | Duke Energy Progress | Qualified Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 99
2024 95
2025 97
2026 91
2027 89
2028-2032 372
Pension Plan | Duke Energy Florida | Qualified Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 83
2024 84
2025 85
2026 87
2027 87
2028-2032 427
Pension Plan | Duke Energy Ohio | Qualified Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 32
2024 31
2025 31
2026 30
2027 29
2028-2032 135
Pension Plan | Duke Energy Indiana | Qualified Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 45
2024 45
2025 44
2026 44
2027 43
2028-2032 205
Pension Plan | Piedmont | Qualified Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 19
2024 18
2025 16
2026 16
2027 15
2028-2032 71
Other Post-Retirement Benefit Plans  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 68
2024 49
2025 45
2026 41
2027 38
2028-2032 158
Other Post-Retirement Benefit Plans | Duke Energy Carolinas  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 16
2024 13
2025 12
2026 11
2027 10
2028-2032 41
Other Post-Retirement Benefit Plans | Progress Energy  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 25
2024 18
2025 16
2026 15
2027 14
2028-2032 61
Other Post-Retirement Benefit Plans | Duke Energy Progress  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 14
2024 10
2025 9
2026 9
2027 8
2028-2032 36
Other Post-Retirement Benefit Plans | Duke Energy Florida  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 11
2024 7
2025 7
2026 6
2027 6
2028-2032 25
Other Post-Retirement Benefit Plans | Duke Energy Ohio  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 3
2024 3
2025 2
2026 2
2027 2
2028-2032 8
Other Post-Retirement Benefit Plans | Duke Energy Indiana  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 7
2024 4
2025 3
2026 3
2027 3
2028-2032 9
Other Post-Retirement Benefit Plans | Piedmont  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2023 2
2024 2
2025 2
2026 2
2027 2
2028-2032 $ 9
v3.22.4
Employee Benefit Plans (Target and Actual Asset Allocations) (Details)
Dec. 31, 2022
Dec. 31, 2021
Master Trust    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 100.00%  
Actual asset allocation 100.00% 100.00%
Master Trust | Other Post-Retirement Benefit Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 100.00%  
Actual asset allocation 100.00% 100.00%
Master Trust | Global equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 45.00%  
Actual asset allocation 49.00% 24.00%
Master Trust | Global equity securities | Other Post-Retirement Benefit Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 14.00%  
Actual asset allocation 14.00% 24.00%
Master Trust | Global private equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 2.00%  
Actual asset allocation 2.00% 1.00%
Master Trust | Global private equity securities | Other Post-Retirement Benefit Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 1.00%  
Actual asset allocation   1.00%
Master Trust | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 35.00%  
Actual asset allocation 30.00% 62.00%
Master Trust | Debt securities | Other Post-Retirement Benefit Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 80.00%  
Actual asset allocation 80.00% 62.00%
Master Trust | Return seeking debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 7.00%  
Actual asset allocation 7.00% 4.00%
Master Trust | Return seeking debt securities | Other Post-Retirement Benefit Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 2.00%  
Actual asset allocation 2.00% 4.00%
Master Trust | Hedge funds    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 4.00%  
Actual asset allocation 6.00% 3.00%
Master Trust | Hedge funds | Other Post-Retirement Benefit Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 1.00%  
Actual asset allocation 2.00% 3.00%
Master Trust | Real estate and cash    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 7.00%  
Actual asset allocation 6.00% 6.00%
Master Trust | Real estate and cash | Other Post-Retirement Benefit Plans    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 2.00%  
Actual asset allocation 2.00% 6.00%
OPEB    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 100.00%  
Actual asset allocation 100.00% 100.00%
OPEB | U.S. equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 30.00%  
Actual asset allocation 12.00% 19.00%
OPEB | Non-U.S. equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 5.00%  
Actual asset allocation 5.00% 5.00%
OPEB | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 45.00%  
Actual asset allocation 11.00% 18.00%
OPEB | Real estate    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 1.00%  
Actual asset allocation 3.00% 3.00%
OPEB | Cash    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation 19.00%  
Actual asset allocation 69.00% 55.00%
v3.22.4
Employee Benefit Plans (Fair Value Measurements of Plan Assets - Master Retirement Trust) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Total assets $ 62 $ 95
Master Trust    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 7,073 9,352
Master Trust | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 2,065 2,975
Master Trust | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 4,711 6,038
Master Trust | Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 62 95
Master Trust | Not Categorized    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 235 244
Master Trust | Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 2,234 2,575
Master Trust | Equity securities | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 2,014 2,547
Master Trust | Equity securities | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 194  
Master Trust | Equity securities | Not Categorized    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 26 28
Master Trust | Corporate debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 2,944 4,189
Master Trust | Corporate debt securities | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 2,944 4,189
Master Trust | Short-term investment funds    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 193 382
Master Trust | Short-term investment funds | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 1 272
Master Trust | Short-term investment funds | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 192 110
Master Trust | Partnership interests    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 62 95
Master Trust | Partnership interests | Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 62 95
Master Trust | Hedge funds    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 209 216
Master Trust | Hedge funds | Not Categorized    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 209 216
Master Trust | U.S. government bonds    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 1,254 1,618
Master Trust | U.S. government bonds | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 1,254 1,618
Master Trust | Governments bonds – foreign    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 112 78
Master Trust | Governments bonds – foreign | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 112 78
Master Trust | Cash    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 45 144
Master Trust | Cash | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 45 144
Master Trust | Government and commercial mortgage backed securities    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 6 2
Master Trust | Government and commercial mortgage backed securities | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 6 2
Master Trust | Net pending transactions and other investments    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 14 53
Master Trust | Net pending transactions and other investments | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 5 12
Master Trust | Net pending transactions and other investments | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 9 41
OPEB    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 33 45
OPEB | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 33 45
OPEB | Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 12 18
OPEB | Equity securities | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 12 18
OPEB | Real estate    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 2 2
OPEB | Real estate | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 2 2
OPEB | Cash and cash equivalents    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 11 14
OPEB | Cash and cash equivalents | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 11 14
OPEB | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Total assets 8 11
OPEB | Debt securities | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Total assets $ 8 $ 11
Duke Energy Carolinas | Master Trust    
Defined Benefit Plan Disclosure [Line Items]    
Allocated assets (as a percent) 27.00% 26.00%
Progress Energy | Master Trust    
Defined Benefit Plan Disclosure [Line Items]    
Allocated assets (as a percent) 33.00% 32.00%
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% 17.00%
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% 4.00%
v3.22.4
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, 2022
Dec. 31, 2021
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Plan assets at prior measurement date $ 95  
Sales (18)  
Total gains and other, net (8)  
Transfer of Level 3 assets from other classifications (7) $ 95
Plan assets at measurement date $ 62 $ 95
v3.22.4
Employee Benefit Plans (Employee Savings Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]      
Matching contribution percentage 100.00%    
Eligible pay percentage 6.00%    
Additional contribution percentage for employees not participating in defined pension plans 4.00%    
Employer contributions $ 246 $ 229 $ 213
Vesting period (in years) 3 years    
Duke Energy Carolinas      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions $ 76 70 67
Progress Energy      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 65 60 57
Duke Energy Progress      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 43 39 38
Duke Energy Florida      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 22 21 19
Duke Energy Ohio      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 6 5 5
Duke Energy Indiana      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 12 12 11
Piedmont      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions $ 13 $ 11 $ 13
Minimum | Piedmont      
Defined Benefit Plan Disclosure [Line Items]      
Additional contribution percentage for employees not participating in defined pension plans 3.00%    
Maximum | Piedmont      
Defined Benefit Plan Disclosure [Line Items]      
Additional contribution percentage for employees not participating in defined pension plans 5.00%    
v3.22.4
Income Taxes (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2021
Sep. 30, 2020
Dec. 31, 2020
Income Tax Disclosure [Line Items]      
Refund of AMT credit carryforwards     $ 572
Deferred tax liabilities $ 117    
State      
Income Tax Disclosure [Line Items]      
Reduction in deferred tax liability 490    
Reduction of deferred tax assets $ 25    
AMT credit carryforwards      
Income Tax Disclosure [Line Items]      
Refund of AMT credit carryforwards   $ 572  
Income tax interest income   $ 19  
v3.22.4
Income Taxes (Components of Income Tax Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Current income taxes      
Federal $ 1 $ (2) $ (281)
State (8) 1 (3)
Foreign 4 2 1
Total current income taxes (3) 1 (283)
Deferred income taxes      
Federal 328 275 222
State (14)   (98)
Total deferred income taxes 314 275 124
ITC amortization (11) (8) (10)
Income tax expense from continuing operations 300 268 (169)
Tax benefit from discontinued operations (503) (76) (65)
Total income tax (benefit) expense included in Consolidated Statements of Operations (203) 192 (234)
Net operating loss carry forward 550 250 189
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Domestic 3,991 3,947 907
Foreign 87 44 13
Income from continuing operations before income taxes 4,078 3,991 920
Duke Energy Carolinas      
Current income taxes      
Federal (71) 241 314
State (13) 23 35
Total current income taxes (84) 264 349
Deferred income taxes      
Federal 230 (130) (171)
State (16) (79) (86)
Total deferred income taxes 214 (209) (257)
ITC amortization (4) (4) (4)
Income tax expense from continuing operations 126 51 88
Total income tax (benefit) expense included in Consolidated Statements of Operations 126 51 88
Net operating loss carry forward 97 32 20
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 1,726 1,387 1,044
Progress Energy      
Current income taxes      
Federal (13) (15) 280
State (3) (4) 29
Total current income taxes (16) (19) 309
Deferred income taxes      
Federal 310 203 (167)
State 59 47 (24)
Total deferred income taxes 369 250 (191)
ITC amortization (5) (4) (5)
Income tax expense from continuing operations 348 227 113
Total income tax (benefit) expense included in Consolidated Statements of Operations 348 227 113
Net operating loss carry forward 128 95 39
Duke Energy Progress      
Current income taxes      
Federal 37 113 181
State   8 17
Total current income taxes 37 121 198
Deferred income taxes      
Federal 118 (16) (180)
State 7 (26) (49)
Total deferred income taxes 125 (42) (229)
ITC amortization (4) (4) (5)
Income tax expense from continuing operations 158 75 (36)
Total income tax (benefit) expense included in Consolidated Statements of Operations 158 75 (36)
Net operating loss carry forward 9 14 3
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 1,166 1,066 379
Duke Energy Florida      
Current income taxes      
Federal (37) (75) 148
State (23) (17) 24
Total current income taxes (60) (92) 172
Deferred income taxes      
Federal 201 202 1
State 84 77 25
Total deferred income taxes 285 279 26
Income tax expense from continuing operations 225 187 198
Total income tax (benefit) expense included in Consolidated Statements of Operations 225 187 198
Net operating loss carry forward 111 64 30
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 1,134 925 969
Duke Energy Ohio      
Current income taxes      
Federal (2) (8) 10
State 1 (2) 1
Total current income taxes (1) (10) 11
Deferred income taxes      
Federal (22) 35 30
State 3 5 2
Total deferred income taxes (19) 40 32
ITC amortization (1)    
Income tax expense from continuing operations (21) 30 43
Total income tax (benefit) expense included in Consolidated Statements of Operations (21) 30 43
Net operating loss carry forward 7 2  
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 281 234 295
Duke Energy Indiana      
Current income taxes      
Federal 38 65 48
State 2 7 7
Total current income taxes 40 72 55
Deferred income taxes      
Federal (63) 19 12
State   16 17
Total deferred income taxes (63) 35 29
ITC amortization (1)    
Income tax expense from continuing operations (24) 107 84
Total income tax (benefit) expense included in Consolidated Statements of Operations (24) 107 84
Net operating loss carry forward 13 8 8
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 113 588 492
Piedmont      
Current income taxes      
Federal 32 23 (27)
State 2 3 (8)
Total current income taxes 34 26 (35)
Deferred income taxes      
Federal 12 17 60
State (7) (13) (7)
Total deferred income taxes 5 4 53
Income tax expense from continuing operations 39 30 18
Total income tax (benefit) expense included in Consolidated Statements of Operations 39 30 18
Net operating loss carry forward 12 3 11
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes $ 362 $ 340 $ 291
v3.22.4
Income Taxes (Effective Tax Rates) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
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%   $ 856 $ 838 $ 193
State income tax, net of federal income tax effect   (17) 1 (80)
Amortization of excess deferred income tax   (481) (438) (276)
AFUDC equity income   (41) (34) (48)
AFUDC equity depreciation   36 35 103
Other tax credits   (43) (30) (37)
Tax true up       (12)
Valuation allowance $ (85)   (85)  
Other items, net   (10) (19) (12)
Income tax expense from continuing operations   $ 300 $ 268 $ (169)
Effective tax rate   7.40% 6.70% (18.40%)
Federal capital gain $ 426      
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%   $ 362 $ 291 $ 219
State income tax, net of federal income tax effect   (23) (44) (40)
Amortization of excess deferred income tax   (195) (184) (82)
AFUDC equity income   (20) (14) (13)
AFUDC equity depreciation   18 18 19
Other tax credits   (12) (12) (13)
Tax true up       (3)
Other items, net   (4) (4) 1
Income tax expense from continuing operations   $ 126 $ 51 $ 88
Effective tax rate   7.30% 3.70% 8.40%
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%   $ 457 $ 384 $ 243
State income tax, net of federal income tax effect   44 34 4
Amortization of excess deferred income tax   (133) (174) (118)
AFUDC equity income   (14) (11) (9)
AFUDC equity depreciation   12 10 10
Other tax credits   (16) (11) (16)
Tax true up       1
Other items, net   (2) (5) (2)
Income tax expense from continuing operations   $ 348 $ 227 $ 113
Effective tax rate   16.00% 12.40% 9.70%
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%   $ 245 $ 224 $ 80
State income tax, net of federal income tax effect   6 (14) (25)
Amortization of excess deferred income tax   (74) (120) (68)
AFUDC equity income   (11) (7) (6)
AFUDC equity depreciation   6 5 5
Other tax credits   (9) (8) (14)
Tax true up       (5)
Other items, net   (5) (5) (3)
Income tax expense from continuing operations   $ 158 $ 75 $ (36)
Effective tax rate   13.60% 7.00% (9.50%)
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%   $ 238 $ 194 $ 204
State income tax, net of federal income tax effect   48 47 39
Amortization of excess deferred income tax   (59) (54) (49)
AFUDC equity income   (3) (3) (3)
AFUDC equity depreciation   6 5 5
Other tax credits   (7) (3) (2)
Tax true up       5
Other items, net   2 1 (1)
Income tax expense from continuing operations   $ 225 $ 187 $ 198
Effective tax rate   19.80% 20.20% 20.40%
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%   $ 59 $ 49 $ 62
State income tax, net of federal income tax effect   3 2 2
Amortization of excess deferred income tax   (79) (22) (20)
AFUDC equity income   (1) (2) (2)
AFUDC equity depreciation   1 2 1
Other tax credits   (2) (1) (1)
Other items, net   (2) 2 1
Income tax expense from continuing operations   $ (21) $ 30 $ 43
Effective tax rate   (7.50%) 12.80% 14.60%
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%   $ 24 $ 123 $ 103
State income tax, net of federal income tax effect   2 18 19
Amortization of excess deferred income tax   (48) (34) (36)
AFUDC equity income   (2) (4) (4)
AFUDC equity depreciation   4 5 4
Other tax credits   (3) (2) (3)
Tax true up       (1)
Other items, net   (1) 1 2
Income tax expense from continuing operations   $ (24) $ 107 $ 84
Effective tax rate   (21.20%) 18.20% 17.10%
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%   $ 76 $ 71 $ 61
State income tax, net of federal income tax effect   (4) (8) (12)
Amortization of excess deferred income tax   (23) (25) (21)
AFUDC equity income   (2) (4) (10)
Other tax credits   (8) (4) (2)
Tax true up       1
Other items, net       1
Income tax expense from continuing operations   $ 39 $ 30 $ 18
Effective tax rate   10.80% 8.80% 6.20%
v3.22.4
Income Taxes (Deferred Income Taxes) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities $ 348 $ 347
Lease obligations 405 346
Deferred Tax Assets, Tax Deferred Expense (Benefits), Compensation and Benefits 192 207
Progress Energy merger purchase accounting adjustments 301 340
Tax credits and NOL carryforwards 4,426 3,784
Other 106 85
Valuation allowance (519) (518)
Total deferred income tax assets 5,259 4,591
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (1,671) (2,428)
Accelerated depreciation rates (11,478) (10,391)
Regulatory assets and deferred debits, net (2,074) (1,151)
Total deferred income tax liabilities (15,223) (13,970)
Net deferred income tax liabilities (9,964) (9,379)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 4,426 3,784
Valuation allowance 519 518
General Business Credits    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 2,473  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 2,473  
NOL Carryforwards | Federal    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 306  
Valuation allowance (4)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 306  
Valuation allowance 4  
NOL Carryforwards | State    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 394  
Valuation allowance (109)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 394  
Valuation allowance 109  
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  
Charitable contribution carryforwards    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 18  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 18  
Foreign Tax Credit    
Deferred Tax Assets, Gross [Abstract]    
Valuation allowance (391)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Valuation allowance 391  
Foreign Tax Credit | Foreign    
Deferred Tax Assets, Gross [Abstract]    
Tax credits and NOL carryforwards 1,223  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 1,223  
Duke Energy Carolinas    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 170 121
Lease obligations 89 91
Deferred Tax Assets, Tax Deferred Expense (Benefits), Compensation and Benefits (1) (36)
Tax credits and NOL carryforwards 444 349
Regulatory liabilities and deferred credits   11
Other 18 12
Total deferred income tax assets 720 548
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (983) (1,205)
Accelerated depreciation rates (3,410) (2,977)
Regulatory assets and deferred debits, net (480)  
Total deferred income tax liabilities (4,873) (4,182)
Net deferred income tax liabilities (4,153) (3,634)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 444 349
Progress Energy    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 117 101
Lease obligations 263 197
Deferred Tax Assets, Tax Deferred Expense (Benefits), Compensation and Benefits 12 30
Tax credits and NOL carryforwards 618 497
Other 22 12
Total deferred income tax assets 1,032 837
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (521) (742)
Accelerated depreciation rates (4,358) (3,891)
Regulatory assets and deferred debits, net (1,300) (768)
Total deferred income tax liabilities (6,179) (5,401)
Net deferred income tax liabilities (5,147) (4,564)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 618 497
Duke Energy Progress    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 33 60
Lease obligations 197 121
Deferred Tax Assets, Tax Deferred Expense (Benefits), Compensation and Benefits 18 17
Tax credits and NOL carryforwards 167 160
Other 12 7
Total deferred income tax assets 427 365
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (432) (610)
Accelerated depreciation rates (1,844) (1,546)
Regulatory assets and deferred debits, net (628) (417)
Total deferred income tax liabilities (2,904) (2,573)
Net deferred income tax liabilities (2,477) (2,208)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 167 160
Duke Energy Florida    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 83 40
Lease obligations 65 76
Deferred Tax Assets, Tax Deferred Expense (Benefits), Compensation and Benefits (10) 7
Tax credits and NOL carryforwards 412 306
Other 10 4
Total deferred income tax assets 560 433
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (102) (135)
Accelerated depreciation rates (2,576) (2,382)
Regulatory assets and deferred debits, net (671) (350)
Total deferred income tax liabilities (3,349) (2,867)
Net deferred income tax liabilities (2,789) (2,434)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 412 306
Duke Energy Ohio    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 12 19
Lease obligations 4 4
Deferred Tax Assets, Tax Deferred Expense (Benefits), Compensation and Benefits 9 11
Tax credits and NOL carryforwards 20 13
Regulatory liabilities and deferred credits 3 16
Investments and other assets 3 5
Other 5 7
Total deferred income tax assets 56 75
Deferred Tax Liabilities, Gross [Abstract]    
Accelerated depreciation rates (1,192) (1,125)
Total deferred income tax liabilities (1,192) (1,125)
Net deferred income tax liabilities (1,136) (1,050)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 20 13
Duke Energy Indiana    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 23 7
Lease obligations 15 16
Deferred Tax Assets, Tax Deferred Expense (Benefits), Compensation and Benefits 10 20
Tax credits and NOL carryforwards 208 195
Regulatory liabilities and deferred credits 61  
Investments and other assets   6
Other 2 2
Total deferred income tax assets 319 246
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (12)  
Accelerated depreciation rates (1,606) (1,496)
Regulatory assets and deferred debits, net   (53)
Total deferred income tax liabilities (1,618) (1,549)
Net deferred income tax liabilities (1,299) (1,303)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards 208 195
Piedmont    
Deferred Tax Assets, Gross [Abstract]    
Deferred credits and other liabilities 24 18
Lease obligations 3 4
Deferred Tax Assets, Tax Deferred Expense (Benefits), Compensation and Benefits (2) (8)
Tax credits and NOL carryforwards 37 29
Regulatory liabilities and deferred credits   6
Other 9 8
Total deferred income tax assets 71 57
Deferred Tax Liabilities, Gross [Abstract]    
Investments and other assets (28) (39)
Accelerated depreciation rates (892) (833)
Regulatory assets and deferred debits, net (21)  
Total deferred income tax liabilities (941) (872)
Net deferred income tax liabilities (870) (815)
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]    
Tax credits and NOL carryforwards $ 37 $ 29
v3.22.4
Income Taxes (Other Disclosures) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]        
Unrecognized tax benefits – January 1   $ 51 $ 125 $ 126
Gross decreases – tax positions in prior periods(a)     (86) (2)
Gross increases – current period tax positions   14 12 4
Reduction due to lapse of statute of limitations       (3)
Total changes   14 (74) (1)
Unrecognized tax benefits – December 31 $ 51 65 51 125
Amount that if recognized, would affect the effective tax rate or regulatory liability   59    
Federal capital gain 426      
Duke Energy Carolinas        
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]        
Unrecognized tax benefits – January 1   13 10 8
Gross increases – current period tax positions   4 3 2
Total changes   4 3 2
Unrecognized tax benefits – December 31 13 17 13 10
Amount that if recognized, would affect the effective tax rate or regulatory liability   17    
Progress Energy        
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]        
Unrecognized tax benefits – January 1   15 10 9
Gross increases – current period tax positions   4 5 1
Total changes   4 5 1
Unrecognized tax benefits – December 31 15 19 15 10
Amount that if recognized, would affect the effective tax rate or regulatory liability   18    
Duke Energy Progress        
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]        
Unrecognized tax benefits – January 1   10 6 6
Gross increases – current period tax positions   3 4  
Total changes   3 4  
Unrecognized tax benefits – December 31 10 13 10 6
Amount that if recognized, would affect the effective tax rate or regulatory liability   13    
Duke Energy Florida        
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]        
Unrecognized tax benefits – January 1   4 3 3
Gross increases – current period tax positions   1 1  
Total changes   1 1  
Unrecognized tax benefits – December 31 4 5 4 3
Amount that if recognized, would affect the effective tax rate or regulatory liability   5    
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
Unrecognized tax benefits – December 31 1 1 1 1
Amount that if recognized, would affect the effective tax rate or regulatory liability   1    
Duke Energy Indiana        
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]        
Unrecognized tax benefits – January 1   2 1 1
Gross increases – current period tax positions     1  
Total changes     1  
Unrecognized tax benefits – December 31 2 2 2 1
Amount that if recognized, would affect the effective tax rate or regulatory liability   2    
Piedmont        
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]        
Unrecognized tax benefits – January 1   4 1 4
Gross increases – current period tax positions   5 3  
Reduction due to lapse of statute of limitations       (3)
Total changes   5 3 (3)
Unrecognized tax benefits – December 31 $ 4 9 $ 4 $ 1
Amount that if recognized, would affect the effective tax rate or regulatory liability   $ 8    
v3.22.4
Other Income and Expenses, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income $ 27 $ 13 $ 30
AFUDC equity 197 171 154
Post in-service equity returns 34 39 27
Nonoperating income, other 134 413 240
Other income and expense, net 392 636 451
Duke Energy Carolinas      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 2 4 4
AFUDC equity 98 65 62
Post in-service equity returns 14 21 17
Nonoperating income, other 107 180 94
Other income and expense, net 221 270 177
Progress Energy      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 24 8 8
AFUDC equity 68 51 42
Post in-service equity returns 18 16 8
Nonoperating income, other 71 140 71
Other income and expense, net 181 215 129
Duke Energy Progress      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 4 6 2
AFUDC equity 52 34 29
Post in-service equity returns 18 16 8
Nonoperating income, other 40 87 36
Other income and expense, net 114 143 75
Duke Energy Florida      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 20 2 6
AFUDC equity 16 16 12
Nonoperating income, other 38 53 35
Other income and expense, net 74 71 53
Duke Energy Ohio      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 11 4 4
AFUDC equity 7 7 7
Post in-service equity returns 1 1 1
Nonoperating income, other   6 4
Other income and expense, net 19 18 16
Duke Energy Indiana      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 15 6 6
AFUDC equity 13 27 23
Post in-service equity returns 1 1 1
Nonoperating income, other 7 8 7
Other income and expense, net 36 42 37
Piedmont      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 19 19 17
AFUDC equity 11 20 19
Nonoperating income, other 16 16 15
Other income and expense, net $ 46 $ 55 $ 51
v3.22.4
Quarterly Financial Data (Unaudited) (Schedule of Quarterly Financial Information) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]                      
Operating revenues $ 7,351 $ 7,842 $ 6,564 $ 7,011 $ 6,117 $ 6,834 $ 5,638 $ 6,032 $ 28,768 $ 24,621 $ 23,366
Operating income (loss) 1,194 2,056 1,448 1,314 1,110 1,726 1,198 1,466 6,012 5,500 4,571
Income (loss) from continuing operations 635 1,410 898 835 700 1,333 723 967 3,778 3,723 1,089
(Loss) Income from discontinued operations, net of tax (1,293) 3 (18) (15) (36) (57) (25) (26) (1,323) (144) (7)
Net income (loss) (658) 1,413 880 820 664 1,276 698 941 2,455 3,579 1,082
Net Income available to Duke Energy common stockholders $ (650) $ 1,383 $ 893 $ 818 $ 732 $ 1,366 $ 751 $ 953 $ 2,444 $ 3,802 $ 1,270
Income (loss) from continuing operations attributable to Duke Energy Corporation common shareholders [Abstract]                      
Basic (usd per share) $ 0.80 $ 1.78 $ 1.11 $ 1.06 $ 0.86 $ 1.69 $ 0.90 $ 1.22 $ 4.74 $ 4.68 $ 1.33
Diluted (usd per share) 0.80 1.78 1.11 1.06 0.86 1.69 0.90 1.22 4.74 4.68 1.33
Income (loss) from discontinued operations attributable to Duke Energy Corporation common shareholders [Abstract]                      
Basic (usd per share) (1.66) 0.03 0.03 0.02 0.07 0.10 0.06 0.03 (1.57) 0.26 0.39
Diluted (usd per share) (1.66) 0.03 0.03 0.02 0.07 0.10 0.06 0.03 (1.57) 0.26 0.39
Net income available to Duke Energy Corporation common stockholders                      
Basic (usd per share) (0.86) 1.81 1.14 1.08 0.93 1.79 0.96 1.25 3.17 4.94 1.72
Diluted (usd per share) $ (0.86) $ 1.81 $ 1.14 $ 1.08 $ 0.93 $ 1.79 $ 0.96 $ 1.25 $ 3.17 $ 4.94 $ 1.72
v3.22.4
Quarterly Financial Data (Unaudited) (Unusual or Infrequently Occurring Items) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]      
Impairment charges $ (434) $ (353) $ (978)
Severance Costs $ (65) $ (69) $ 85