Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions |
3 Months Ended |
Mar. 31, 2017 |
Mar. 31, 2016 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income |
$ 717
|
$ 699
|
| Net income (attributable to parent) |
716
|
694
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
991
|
931
|
| Equity component of AFUDC |
(62)
|
(42)
|
| Gains on sales of other assets |
(11)
|
(9)
|
| Impairment charges |
|
3
|
| Deferred income taxes |
342
|
181
|
| Equity in earnings of unconsolidated affiliates |
(29)
|
(8)
|
| Accrued pension and other post-retirement benefit costs |
6
|
4
|
| Payments for asset retirement obligations |
(134)
|
(112)
|
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
(38)
|
102
|
| Receivables |
343
|
139
|
| Inventory |
155
|
89
|
| Other current assets |
16
|
13
|
| Increase (decrease) in |
|
|
| Accounts payable |
(463)
|
(210)
|
| Taxes accrued |
(28)
|
40
|
| Other current liabilities |
(478)
|
(81)
|
| Other assets |
(40)
|
45
|
| Other liabilities |
2
|
(102)
|
| Net cash provided by operating activities |
1,289
|
1,682
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(2,160)
|
(1,645)
|
| Contributions to equity method investments |
(175)
|
(59)
|
| Purchases of available-for-sale securities |
(1,386)
|
(1,347)
|
| Proceeds from sales and maturities of available-for-sale securities |
1,405
|
1,362
|
| Change in restricted cash |
(34)
|
(32)
|
| Other |
(49)
|
(37)
|
| Net cash used in investing activities |
(2,399)
|
(1,758)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
1,563
|
1,140
|
| Proceeds from the issuance of common stock related to employee benefit plans |
|
7
|
| Payments for the redemption of long-term debt |
(408)
|
(389)
|
| Proceeds from issuance of short-term debt with original maturities greater than 90 days |
25
|
|
| Payments for the redemption of short-term debt with original maturities greater than 90 days |
(7)
|
(92)
|
| Notes payable and commercial paper |
1,045
|
(66)
|
| Change in bank overdrafts |
5
|
|
| Dividends paid |
(600)
|
(570)
|
| Other |
(27)
|
(33)
|
| Net cash provided by (used in) financing activities |
1,596
|
(3)
|
| Change in cash and cash equivalents associated with assets held for sale |
|
30
|
| Net increase (decrease) in cash and cash equivalents |
486
|
(49)
|
| Cash and cash equivalents at beginning of period |
392
|
383
|
| Cash and cash equivalents at end of period |
878
|
334
|
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
575
|
576
|
| Duke Energy Carolinas [Member] |
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (attributable to parent) |
270
|
271
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
339
|
330
|
| Equity component of AFUDC |
(30)
|
(23)
|
| Deferred income taxes |
162
|
145
|
| Accrued pension and other post-retirement benefit costs |
|
1
|
| Payments for asset retirement obligations |
(65)
|
(52)
|
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
3
|
3
|
| Receivables |
66
|
2
|
| Receivable from affiliated companies |
54
|
33
|
| Inventory |
4
|
40
|
| Other current assets |
(26)
|
102
|
| Increase (decrease) in |
|
|
| Accounts payable |
(131)
|
(165)
|
| Accounts payable to affiliated companies |
3
|
21
|
| Taxes accrued |
(53)
|
52
|
| Other current liabilities |
(125)
|
21
|
| Other assets |
(3)
|
26
|
| Other liabilities |
(2)
|
(26)
|
| Net cash provided by operating activities |
466
|
781
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(563)
|
(459)
|
| Purchases of available-for-sale securities |
(722)
|
(785)
|
| Proceeds from sales and maturities of available-for-sale securities |
722
|
785
|
| Notes receivable from affiliated companies |
66
|
|
| Notes receivable from affiliated companies |
|
(691)
|
| Other |
(20)
|
(18)
|
| Net cash used in investing activities |
(517)
|
(1,168)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
|
992
|
| Payments for the redemption of long-term debt |
(113)
|
(1)
|
| Notes payable to affiliated companies |
337
|
|
| Distributions to parent |
(175)
|
(600)
|
| Other |
(1)
|
|
| Net cash provided by (used in) financing activities |
48
|
391
|
| Net increase (decrease) in cash and cash equivalents |
(3)
|
4
|
| Cash and cash equivalents at beginning of period |
14
|
13
|
| Cash and cash equivalents at end of period |
11
|
17
|
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
164
|
179
|
| Progress Energy [Member] |
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income |
201
|
212
|
| Net income (attributable to parent) |
199
|
209
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
365
|
342
|
| Equity component of AFUDC |
(24)
|
(14)
|
| Gains on sales of other assets |
(9)
|
(7)
|
| Impairment charges |
|
2
|
| Deferred income taxes |
220
|
182
|
| Accrued pension and other post-retirement benefit costs |
(3)
|
(6)
|
| Payments for asset retirement obligations |
(60)
|
(54)
|
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
(2)
|
6
|
| Receivables |
115
|
70
|
| Receivable from affiliated companies |
100
|
295
|
| Inventory |
65
|
3
|
| Other current assets |
(173)
|
(76)
|
| Increase (decrease) in |
|
|
| Accounts payable |
(228)
|
9
|
| Accounts payable to affiliated companies |
(32)
|
(55)
|
| Taxes accrued |
12
|
42
|
| Other current liabilities |
(121)
|
(64)
|
| Other assets |
(53)
|
(46)
|
| Other liabilities |
(14)
|
(7)
|
| Net cash provided by operating activities |
359
|
834
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(1,011)
|
(750)
|
| Purchases of available-for-sale securities |
(629)
|
(533)
|
| Proceeds from sales and maturities of available-for-sale securities |
635
|
548
|
| Proceeds from Insurance |
4
|
43
|
| Notes receivable from affiliated companies |
(104)
|
|
| Change in restricted cash |
5
|
|
| Other |
(4)
|
(15)
|
| Net cash used in investing activities |
(1,104)
|
(707)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
892
|
53
|
| Payments for the redemption of long-term debt |
(288)
|
(310)
|
| Notes payable to affiliated companies |
137
|
128
|
| Distributions to noncontrolling interests |
(1)
|
(1)
|
| Other |
(3)
|
|
| Net cash provided by (used in) financing activities |
737
|
(130)
|
| Net increase (decrease) in cash and cash equivalents |
(8)
|
(3)
|
| Cash and cash equivalents at beginning of period |
46
|
44
|
| Cash and cash equivalents at end of period |
38
|
41
|
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
219
|
228
|
| Duke Energy Progress [Member] |
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (attributable to parent) |
147
|
137
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
228
|
223
|
| Equity component of AFUDC |
(13)
|
(10)
|
| Gains on sales of other assets |
(3)
|
(2)
|
| Deferred income taxes |
120
|
100
|
| Accrued pension and other post-retirement benefit costs |
(5)
|
(8)
|
| Payments for asset retirement obligations |
(47)
|
(42)
|
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
(2)
|
(1)
|
| Receivables |
65
|
18
|
| Receivable from affiliated companies |
(1)
|
10
|
| Inventory |
23
|
15
|
| Other current assets |
(60)
|
83
|
| Increase (decrease) in |
|
|
| Accounts payable |
(192)
|
(16)
|
| Accounts payable to affiliated companies |
17
|
(14)
|
| Taxes accrued |
(68)
|
18
|
| Other current liabilities |
(81)
|
(39)
|
| Other assets |
(44)
|
(17)
|
| Other liabilities |
(10)
|
(4)
|
| Net cash provided by operating activities |
74
|
451
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(474)
|
(379)
|
| Purchases of available-for-sale securities |
(476)
|
(390)
|
| Proceeds from sales and maturities of available-for-sale securities |
470
|
384
|
| Notes receivable from affiliated companies |
165
|
|
| Other |
(9)
|
(13)
|
| Net cash used in investing activities |
(324)
|
(398)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
|
53
|
| Payments for the redemption of long-term debt |
(250)
|
(8)
|
| Notes payable to affiliated companies |
502
|
(101)
|
| Other |
(2)
|
(1)
|
| Net cash provided by (used in) financing activities |
250
|
(57)
|
| Net increase (decrease) in cash and cash equivalents |
|
(4)
|
| Cash and cash equivalents at beginning of period |
11
|
15
|
| Cash and cash equivalents at end of period |
11
|
11
|
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
66
|
55
|
| Duke Energy Florida [Member] |
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (attributable to parent) |
90
|
110
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
134
|
116
|
| Equity component of AFUDC |
(11)
|
(4)
|
| Impairment charges |
1
|
2
|
| Deferred income taxes |
100
|
83
|
| Accrued pension and other post-retirement benefit costs |
1
|
1
|
| Payments for asset retirement obligations |
(14)
|
(12)
|
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
|
7
|
| Receivables |
51
|
52
|
| Receivable from affiliated companies |
(1)
|
14
|
| Inventory |
42
|
(12)
|
| Other current assets |
(33)
|
(44)
|
| Increase (decrease) in |
|
|
| Accounts payable |
(35)
|
25
|
| Accounts payable to affiliated companies |
(48)
|
(40)
|
| Taxes accrued |
29
|
(70)
|
| Other current liabilities |
(47)
|
(14)
|
| Other assets |
(13)
|
(30)
|
| Other liabilities |
(5)
|
(6)
|
| Net cash provided by operating activities |
241
|
178
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(538)
|
(370)
|
| Purchases of available-for-sale securities |
(153)
|
(143)
|
| Proceeds from sales and maturities of available-for-sale securities |
165
|
164
|
| Proceeds from Insurance |
4
|
43
|
| Notes receivable from affiliated companies |
(293)
|
|
| Other |
9
|
(1)
|
| Net cash used in investing activities |
(806)
|
(307)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
892
|
|
| Payments for the redemption of long-term debt |
(38)
|
(2)
|
| Notes payable to affiliated companies |
(297)
|
135
|
| Other |
(1)
|
|
| Net cash provided by (used in) financing activities |
556
|
133
|
| Net increase (decrease) in cash and cash equivalents |
(9)
|
4
|
| Cash and cash equivalents at beginning of period |
16
|
8
|
| Cash and cash equivalents at end of period |
7
|
12
|
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
153
|
173
|
| Duke Energy Ohio [Member] |
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (attributable to parent) |
42
|
59
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
68
|
62
|
| Equity component of AFUDC |
(2)
|
(1)
|
| Gains on sales of other assets |
|
(1)
|
| Deferred income taxes |
30
|
11
|
| Accrued pension and other post-retirement benefit costs |
1
|
1
|
| Payments for asset retirement obligations |
(2)
|
(1)
|
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
1
|
2
|
| Receivables |
7
|
(18)
|
| Receivable from affiliated companies |
41
|
(9)
|
| Inventory |
19
|
1
|
| Other current assets |
9
|
78
|
| Increase (decrease) in |
|
|
| Accounts payable |
(10)
|
(1)
|
| Accounts payable to affiliated companies |
1
|
|
| Taxes accrued |
(52)
|
(31)
|
| Other current liabilities |
9
|
14
|
| Other assets |
(6)
|
(2)
|
| Other liabilities |
(3)
|
|
| Net cash provided by operating activities |
153
|
164
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(143)
|
(85)
|
| Notes receivable from affiliated companies |
(85)
|
(19)
|
| Other |
(8)
|
(4)
|
| Net cash used in investing activities |
(236)
|
(108)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
93
|
95
|
| Payments for the redemption of long-term debt |
(1)
|
(51)
|
| Notes payable to affiliated companies |
(8)
|
(95)
|
| Other |
(1)
|
|
| Net cash provided by (used in) financing activities |
83
|
(51)
|
| Net increase (decrease) in cash and cash equivalents |
|
5
|
| Cash and cash equivalents at beginning of period |
13
|
14
|
| Cash and cash equivalents at end of period |
13
|
19
|
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
57
|
31
|
| Duke Energy Indiana [Member] |
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (attributable to parent) |
91
|
95
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
126
|
127
|
| Equity component of AFUDC |
(6)
|
(3)
|
| Deferred income taxes |
37
|
(16)
|
| Accrued pension and other post-retirement benefit costs |
1
|
2
|
| Payments for asset retirement obligations |
(7)
|
(5)
|
| (Increase) decrease in |
|
|
| Receivables |
44
|
16
|
| Receivable from affiliated companies |
26
|
7
|
| Inventory |
26
|
45
|
| Other current assets |
(2)
|
(19)
|
| Increase (decrease) in |
|
|
| Accounts payable |
(32)
|
(44)
|
| Accounts payable to affiliated companies |
1
|
(22)
|
| Taxes accrued |
41
|
30
|
| Other current liabilities |
(15)
|
(18)
|
| Other assets |
(11)
|
(4)
|
| Other liabilities |
(3)
|
(11)
|
| Net cash provided by operating activities |
317
|
180
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(189)
|
(151)
|
| Purchases of available-for-sale securities |
(4)
|
(5)
|
| Proceeds from sales and maturities of available-for-sale securities |
2
|
4
|
| Notes receivable from affiliated companies |
(113)
|
(19)
|
| Other |
(12)
|
(1)
|
| Net cash used in investing activities |
(316)
|
(172)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Payments for the redemption of long-term debt |
(2)
|
|
| Other |
(1)
|
|
| Net cash provided by (used in) financing activities |
(3)
|
|
| Net increase (decrease) in cash and cash equivalents |
(2)
|
8
|
| Cash and cash equivalents at beginning of period |
17
|
9
|
| Cash and cash equivalents at end of period |
15
|
17
|
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
84
|
42
|
| Piedmont Natural Gas [Member] |
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (attributable to parent) |
95
|
103
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
37
|
37
|
| Deferred income taxes |
50
|
68
|
| Equity in earnings of unconsolidated affiliates |
(3)
|
(16)
|
| Accrued pension and other post-retirement benefit costs |
3
|
1
|
| Payments for asset retirement obligations |
|
(1)
|
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
(41)
|
|
| Receivables |
40
|
(14)
|
| Inventory |
37
|
49
|
| Other current assets |
24
|
20
|
| Increase (decrease) in |
|
|
| Accounts payable |
(31)
|
(21)
|
| Accounts payable to affiliated companies |
(5)
|
|
| Taxes accrued |
2
|
3
|
| Other current liabilities |
(17)
|
(9)
|
| Other assets |
25
|
23
|
| Other liabilities |
(1)
|
(20)
|
| Net cash provided by operating activities |
215
|
223
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(141)
|
(132)
|
| Contributions to equity method investments |
(12)
|
(9)
|
| Other |
(3)
|
(1)
|
| Net cash used in investing activities |
(156)
|
(142)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of common stock related to employee benefit plans |
|
7
|
| Notes payable and commercial paper |
(330)
|
(80)
|
| Notes payable to affiliated companies |
261
|
|
| Dividends paid |
|
(27)
|
| Net cash provided by (used in) financing activities |
(69)
|
(100)
|
| Net increase (decrease) in cash and cash equivalents |
(10)
|
(19)
|
| Cash and cash equivalents at beginning of period |
25
|
33
|
| Cash and cash equivalents at end of period |
15
|
14
|
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
$ 24
|
$ 43
|