v3.3.0.814

Variable Interest Entities (Tables) | 9 Months Ended
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Sep. 30, 2015
Variable Interest Entity, Primary Beneficiary [Member] |
Variable Interest Entities [Line Items] |
Schedule Of Variable Interest Entities | The following table summarizes the amounts and expiration dates of the credit facilities reflected on the Condensed Consolidated Balance Sheets as Long-Term Debt.
| DERF |  | DEPR |  | DEFR |
Credit facility amount (in millions) | $ | 400 |  | $ | 300 |  | $ | 225 |
Expiration date | December 2016 |  | December 2016 |  | March 2017 |
The following tables summarize the impact of VIEs consolidated by Duke Energy and the Subsidiary Registrants on the Condensed Consolidated Balance Sheets.
| September 30, 2015
| Duke Energy
| Duke |  |  | Duke |  |  | Duke |  |  |  |  |  |  |  |  |
| Energy |  |  | Energy |  |  | Energy |  |  |  |  |  |  |  |  |
| Carolinas |  |  | Progress |  |  | Florida |  |  |  |  |  |  |  |  |
(in millions) | DERF |  |  | DEPR(c) |  |  | DEFR(c) |  |  | CRC |  |  | Renewables |  |  | Other |  |  | Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 687 |  |  | 468 |  |  | 395 |  |  | 453 |  |  | 12 |  |  | 22 |  |  | 2,037 |
Other | — |  |  | 1 |  |  | 2 |  |  | — |  |  | 215 |  |  | 4 |  |  | 222 |
Investments and Other Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Other | — |  |  | — |  |  | — |  |  | — |  |  | 20 |  |  | 5 |  |  | 25 |
Property, Plant and Equipment |  |  |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, cost(a) | — |  |  | — |  |  | — |  |  | — |  |  | 1,926 |  |  | 19 |  |  | 1,945 |
Accumulated depreciation and amortization | — |  |  | — |  |  | — |  |  | — |  |  | (302 | ) |  | (5 | ) |  | (307 | )
Regulatory Assets and Deferred Debits |  |  |  |  |  |  |  |  |  |  |  |  |
Other | — |  |  | — |  |  | — |  |  | — |  |  | 37 |  |  | 1 |  |  | 38 |
Total assets | $ | 687 |  |  | $ | 469 |  |  | $ | 397 |  |  | $ | 453 |  |  | $ | 1,910 |  |  | $ | 46 |  |  | $ | 3,962 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |
Taxes accrued | 5 |  |  | 3 |  |  | 1 |  |  | — |  |  | 6 |  |  | — |  |  | 15 |
Current maturities of long-term debt | — |  |  | — |  |  | — |  |  | — |  |  | 73 |  |  | 18 |  |  | 91 |
Other | — |  |  | — |  |  | — |  |  | — |  |  | 23 |  |  | 4 |  |  | 27 |
Long-Term Debt(b) | 400 |  |  | 300 |  |  | 225 |  |  | 325 |  |  | 916 |  |  | 3 |  |  | 2,169 |
Deferred Credits and Other Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred income taxes | — |  |  | — |  |  | — |  |  | — |  |  | 325 |  |  | — |  |  | 325 |
Asset retirement obligations | — |  |  | — |  |  | — |  |  | — |  |  | 30 |  |  | — |  |  | 30 |
Other | — |  |  | — |  |  | — |  |  | — |  |  | 42 |  |  | — |  |  | 42 |
Total liabilities | $ | 405 |  |  | $ | 303 |  |  | $ | 226 |  |  | $ | 325 |  |  | $ | 1,421 |  |  | $ | 25 |  |  | $ | 2,705 |
Net assets of consolidated variable interest entities | $ | 282 |  |  | $ | 166 |  |  | $ | 171 |  |  | $ | 128 |  |  | $ | 489 |  |  | $ | 21 |  |  | $ | 1,257 |
(a) Restricted as collateral for nonrecourse debt of VIEs. (b) Nonrecourse to the general assets of the applicable registrant.
(c) | The amount for Progress Energy is equal to the sum of the amounts for Duke Energy Progress Receivables Company, LLC (DEPR) and Duke Energy Florida Receivables Company, LLC (DEFR).
| December 31, 2014
| Duke Energy
| Duke |  |  | Duke |  |  | Duke |  |  |  |  |  |  |  |  |
| Energy |  |  | Energy |  |  | Energy |  |  |  |  |  |  |  |  |
| Carolinas |  |  | Progress |  |  | Florida |  |  |  |  |  |  |  |  |
(in millions) | DERF |  |  | DEPR(c) |  |  | DEFR(c) |  |  | CRC |  |  | Renewables |  |  | Other |  |  | Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | $ | 647 |  |  | $ | 436 |  |  | $ | 305 |  |  | $ | 547 |  |  | $ | 20 |  |  | $ | 18 |  |  | $ | 1,973 |
Other | — |  |  | — |  |  | — |  |  | — |  |  | 68 |  |  | 6 |  |  | 74 |
Investments and Other Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Other | — |  |  | — |  |  | — |  |  | — |  |  | 25 |  |  | 25 |  |  | 50 |
Property, Plant and Equipment |  |  |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, cost(a) | — |  |  | — |  |  | — |  |  | — |  |  | 1,855 |  |  | 18 |  |  | 1,873 |
Accumulated depreciation and amortization | — |  |  | — |  |  | — |  |  | — |  |  | (250 | ) |  | (5 | ) |  | (255 | )
Regulatory Assets and Deferred Debits |  |  |  |  |  |  |  |  |  |  |  |  |
Other | — |  |  | — |  |  | — |  |  | — |  |  | 34 |  |  | 2 |  |  | 36 |
Total assets | $ | 647 |  |  | $ | 436 |  |  | $ | 305 |  |  | $ | 547 |  |  | $ | 1,752 |  |  | $ | 64 |  |  | $ | 3,751 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |
Taxes accrued | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Current maturities of long-term debt | — |  |  | — |  |  | — |  |  | — |  |  | 68 |  |  | 16 |  |  | 84 |
Other | — |  |  | — |  |  | — |  |  | — |  |  | 16 |  |  | 5 |  |  | 21 |
Long-Term Debt(b) | 400 |  |  | 300 |  |  | 225 |  |  | 325 |  |  | 967 |  |  | 17 |  |  | 2,234 |
Deferred Credits and Other Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred income taxes | — |  |  | — |  |  | — |  |  | — |  |  | 283 |  |  | — |  |  | 283 |
Asset retirement obligations | — |  |  | — |  |  | — |  |  | — |  |  | 29 |  |  | — |  |  | 29 |
Other | — |  |  | — |  |  | — |  |  | — |  |  | 34 |  |  | 4 |  |  | 38 |
Total liabilities | $ | 400 |  |  | $ | 300 |  |  | $ | 225 |  |  | $ | 325 |  |  | $ | 1,406 |  |  | $ | 42 |  |  | $ | 2,698 |
Net assets of consolidated variable interest entities | $ | 247 |  |  | $ | 136 |  |  | $ | 80 |  |  | $ | 222 |  |  | $ | 346 |  |  | $ | 22 |  |  | $ | 1,053 |
(a) Restricted as collateral for nonrecourse debt of VIEs. (b) Nonrecourse to the general assets of the applicable registrant.
(c) | The amount for Progress Energy is equal to the sum of the amounts for DEPR and DEFR.
Variable Interest Entity, Not Primary Beneficiary [Member] |
Variable Interest Entities [Line Items] |
Schedule Of Variable Interest Entities | The following tables include VIEs not consolidated and how these entities impact the Condensed Consolidated Balance Sheets.
| September 30, 2015
| Duke Energy |  | Duke |  |  | Duke |
|  |  |  |  |  |  | Energy |  |  | Energy |
(in millions) | Renewables |  |  | Other |  |  | Total |  |  | Ohio |  |  | Indiana |
Receivables | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 43 |  |  | $ | 64 |
Investments in equity method unconsolidated affiliates | 223 |  |  | 125 |  |  | 348 |  |  | — |  |  | — |
Total assets | $ | 223 |  |  | $ | 125 |  |  | $ | 348 |  |  | $ | 43 |  |  | $ | 64 |
Other current liabilities | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |
Deferred credits and other liabilities | — |  |  | 14 |  |  | 14 |  |  | — |  |  | — |
Total liabilities | $ | — |  |  | $ | 16 |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |
Net assets | $ | 223 |  |  | $ | 109 |  |  | $ | 332 |  |  | $ | 43 |  |  | $ | 64 |
| December 31, 2014
| Duke Energy |  | Duke |  |  | Duke |
|  |  |  |  |  |  | Energy |  |  | Energy |
(in millions) | Renewables |  |  | Other |  |  | Total |  |  | Ohio |  |  | Indiana |
Receivables | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 91 |  |  | $ | 113 |
Investments in equity method unconsolidated affiliates | 150 |  |  | 38 |  |  | 188 |  |  | — |  |  | — |
Investments and other assets | — |  |  | 4 |  |  | 4 |  |  | — |  |  | — |
Total assets | $ | 150 |  |  | $ | 42 |  |  | $ | 192 |  |  | $ | 91 |  |  | $ | 113 |
Other current liabilities | — |  |  | 3 |  |  | 3 |  |  | — |  |  | — |
Deferred credits and other liabilities | — |  |  | 14 |  |  | 14 |  |  | — |  |  | — |
Total liabilities | $ | — |  |  | $ | 17 |  |  | $ | 17 |  |  | $ | — |  |  | $ | — |
Net assets | $ | 150 |  |  | $ | 25 |  |  | $ | 175 |  |  | $ | 91 |  |  | $ | 113 |
Cinergy Receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] |
Variable Interest Entities [Line Items] |
Schedule Of Variable Interest Entities | Key assumptions used in estimating fair value are detailed in the following table.
| Duke Energy Ohio |  | Duke Energy Indiana
| 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Anticipated credit loss ratio | 0.6 | % |  | 0.6 | % |  | 0.3 | % |  | 0.3 | %
Discount rate | 1.2 | % |  | 1.2 | % |  | 1.2 | % |  | 1.2 | %
Receivable turnover rate | 12.9 | % |  | 12.8 | % |  | 10.6 | % |  | 10.5 | %
The following table shows the gross and net receivables sold.
| Duke Energy Ohio |  | Duke Energy Indiana
(in millions) | September 30, 2015 |  |  | December 31, 2014 |  |  | September 30, 2015 |  |  | December 31, 2014 |
Receivables sold | $ | 221 |  |  | $ | 273 |  |  | $ | 271 |  |  | $ | 310 |
Less: Retained interests | 43 |  |  | 91 |  |  | 64 |  |  | 113 |
Net receivables sold | $ | 178 |  |  | $ | 182 |  |  | $ | 207 |  |  | $ | 197 |
The following table shows sales and cash flows related to receivables sold.
| Duke Energy Ohio |  | Duke Energy Indiana
| Three Months Ended |  | Nine Months Ended |  | Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30, |  | September 30, |  | September 30,
(in millions) | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receivables sold | $ | 449 |  |  | $ | 477 |  |  | $ | 1,518 |  |  | $ | 1,705 |  |  | $ | 679 |  |  | $ | 739 |  |  | $ | 2,032 |  |  | $ | 2,173 |
Loss recognized on sale | 2 |  |  | 3 |  |  | 7 |  |  | 9 |  |  | 3 |  |  | 3 |  |  | 8 |  |  | 8 |
Cash flows |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash proceeds from receivables sold | 461 |  |  | 494 |  |  | 1,568 |  |  | 1,761 |  |  | 692 |  |  | 759 |  |  | 2,074 |  |  | 2,233 |
Collection fees received | — |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Return received on retained interests | — |  |  | — |  |  | 2 |  |  | 3 |  |  | 1 |  |  | 2 |  |  | 4 |  |  | 5 |

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=52262685&loc=d3e5747-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=52262685&loc=SL6228884-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=52262685&loc=d3e5728-111685 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Variable Interest Entity -URI http://asc.fasb.org/extlink&oid=6528138 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=52262685&loc=SL6759159-111685 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=52262685&loc=d3e5710-111685 + Details
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
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