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Debt and Credit Facilities | 9 Months Ended
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Sep. 30, 2014
Debt Disclosure [Abstract] |
Debt And Credit Facilities | DEBT AND CREDIT FACILITIES SUMMARY OF SIGNIFICANT DEBT ISSUANCES The following table summarizes significant debt issuances (in millions).
|  |  |  |  | Nine Months Ended September 30, 2014
Issuance Date | Maturity Date |  | Interest Rate |  |  | Duke Energy (Parent) |  |  | Duke Energy Progress |  |  | Duke Energy Florida |  |  | Duke Energy |
Unsecured Debt |  |  |  |  |  |  |  |  |  |  |
April 2014(a) | April 2024 |  | 3.750 | % |  | $ | 600 |  |  | $ | — |  |  | $ | — |  |  | $ | 600 |
April 2014(a) | April 2017 |  | 0.612 | % |  | 400 |  |  | — |  |  | — |  |  | 400 |
June 2014(b) | May 2019 |  | 11.870 | % |  | — |  |  | — |  |  | — |  |  | 108 |
June 2014(b) | May 2021 |  | 13.680 | % |  | — |  |  | — |  |  | — |  |  | 110 |
Secured Debt |  |  |  |  |  |  |  |  |  |  |
March 2014(c) | March 2017 |  | 0.854 | % |  | — |  |  | — |  |  | 225 |  |  | 225 |
July 2014(d) | July 2036 |  | 5.340 | % |  | — |  |  | — |  |  | — |  |  | 129 |
First Mortgage Bonds |  |  |  |  |  |  |  |  |  |  |
March 2014(e) | March 2044 |  | 4.375 | % |  | — |  |  | 400 |  |  | — |  |  | 400 |
March 2014(e) | March 2017 |  | 0.433 | % |  | — |  |  | 250 |  |  | — |  |  | 250 |
Total issuances |  |  |  |  | $ | 1,000 |  |  | $ | 650 |  |  | $ | 225 |  |  | $ | 2,222 |
(a) | Proceeds were used to redeem $402 million of tax-exempt bonds at Duke Energy Ohio, the repayment of outstanding commercial paper and for general corporate purposes. See Note 9 for additional information related to the redemption of Duke Energy Ohio's tax-exempt bonds.
(b) | Proceeds were used to repay $196 million of debt for International Energy and for general corporate purposes.
(c) | Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Florida. Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. See Note 13 for further details.
(d) | Proceeds were used to fund a portion of Duke Energy's prior investment in the existing Wind Star renewables portfolio.
(e) | Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes.
CURRENT MATURITIES OF LONG-TERM DEBT The following table shows the significant components of Current maturities of long-term debt on the Condensed Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.
(in millions) | Maturity Date |  | Interest Rate |  |  | September 30, 2014 |
Unsecured Debt |  |  |  |  |
Duke Energy (Parent) | April 2015 |  | 3.350 | % |  | $ | 450 |
First Mortgage Bonds |  |  |  |  |
Duke Energy Ohio | March 2015 |  | 0.373 | % |  | 150 |
Duke Energy Progress | April 2015 |  | 5.150 | % |  | 300 |
Other |  |  |  |  | 256 |
Current maturities of long-term debt |  |  |  |  | $ | 1,156 |
MASTER CREDIT FACILITY Duke Energy has a Master Credit Facility with a capacity of $6 billion through December 2018. The Subsidiary Registrants, excluding Progress Energy each have borrowing capacity under the Master Credit Facility up to specified sublimits for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder. The table below includes the current borrowing sublimits and available capacity under the Master Credit Facility.
| September 30, 2014
(in millions) | Duke Energy |  |  | Duke Energy (Parent) |  |  | Duke Energy Carolinas |  |  | Duke Energy Progress |  |  | Duke Energy Florida |  |  | Duke Energy Ohio |  |  | Duke Energy Indiana |
Facility size(a) | $ | 6,000 |  |  | $ | 2,250 |  |  | $ | 1,000 |  |  | $ | 750 |  |  | $ | 650 |  |  | $ | 650 |  |  | $ | 700 |
Reduction to backstop issuances |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper(b) | (1,278 | ) |  | (784 | ) |  | (300 | ) |  | (27 | ) |  | — |  |  | (4 | ) |  | (163 | )
Outstanding letters of credit | (64 | ) |  | (56 | ) |  | (4 | ) |  | (2 | ) |  | (1 | ) |  | — |  |  | (1 | )
Tax-exempt bonds | (116 | ) |  | — |  |  | (35 | ) |  | — |  |  | — |  |  | — |  |  | (81 | )
Available capacity | $ | 4,542 |  |  | $ | 1,410 |  |  | $ | 661 |  |  | $ | 721 |  |  | $ | 649 |  |  | $ | 646 |  |  | $ | 455 |
(a) | Represents the sublimit of each borrower.
(b) | Duke Energy issued $450 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas and Duke Energy Indiana. The balances are classified within Long-Term Debt Payable to Affiliated Companies in Duke Energy Carolinas' and Duke Energy Indiana’s Condensed Consolidated Balance Sheets.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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