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Income Taxes | 6 Months Ended
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Jun. 30, 2018
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Tax Act On December 22, 2017, President Trump signed the Tax Act into law. Among other provisions, the Tax Act lowered the corporate federal income tax rate from 35 percent to 21 percent, limits interest deductions outside of regulated utility operations, requires the normalization of excess deferred taxes associated with property under the average rate assumption method as a prerequisite to qualifying for accelerated depreciation and repealed the federal manufacturing deduction. The Tax Act also repealed the corporate alternative minimum tax (AMT) and stipulates a refund of 50 percent of remaining AMT credit carryforwards (to the extent the credits exceed regular tax for the year) for tax years 2018, 2019 and 2020 with all remaining AMT credits to be refunded in tax year 2021. At this time, AMT credits that are treated as refundable under the Tax Act are among the certain refundable tax credits that are subject to sequestration. In the first quarter of 2018, the company revised the December 31, 2017, estimate of the income tax effects of the Tax Act and recorded a $76 million valuation allowance against these AMT credits based on additional interpretative guidance from the Internal Revenue Service related to the Tax Act. See Note 22 to the Consolidated Financial Statements in the Annual Report on Form 10-K/A for the year ended December 31, 2017, for information on the U.S. Securities and Exchange Commission staff's guidance on accounting for the Tax Act (Staff Accounting Bulletin No. 118 (SAB 118), Income Tax Accounting Implications of the Tax Cuts and Jobs Act). No provisional adjustments to the estimate of the income tax effects of the Tax Act were recorded for the three months ended June 30, 2018 in accordance with SAB 118. EFFECTIVE TAX RATES The effective tax rates from continuing operations for each of the Duke Energy Registrants are included in the following table.
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Duke Energy | 16.5 | % |  | 32.1 | % |  | 19.9 | % |  | 32.3 | %
Duke Energy Carolinas | 21.5 | % |  | 34.7 | % |  | 21.8 | % |  | 35.0 | %
Progress Energy | 17.3 | % |  | 33.4 | % |  | 15.4 | % |  | 33.7 | %
Duke Energy Progress | 20.1 | % |  | 31.9 | % |  | 16.8 | % |  | 33.0 | %
Duke Energy Florida | 18.0 | % |  | 36.8 | % |  | 17.4 | % |  | 36.7 | %
Duke Energy Ohio | 25.8 | % |  | 34.8 | % |  | 16.0 | % |  | 35.1 | %
Duke Energy Indiana | 25.8 | % |  | 39.4 | % |  | 25.8 | % |  | 39.4 | %
Piedmont | 27.3 | % |  | 38.5 | % |  | 23.9 | % |  | 37.9 | %
The decrease in the effective tax rate (ETR) for Duke Energy and the Subsidiary Registrants for the three months ended June 30, 2018, is primarily due to the lower statutory federal corporate tax rate under the Tax Act. The decrease in the ETR for Duke Energy and the Subsidiary Registrants for the six months ended June 30, 2018, is primarily due to the lower statutory federal corporate tax rate under the Tax Act and the amortization of federal and state excess deferred taxes, partially offset by a valuation allowance against AMT credits discussed above. The decrease in the ETR for Duke Energy Carolinas for the three and six months ended June 30, 2018, is primarily due to the lower statutory federal corporate tax rate under the Tax Act and the amortization of state excess deferred taxes. The decrease in the ETR for Progress Energy for the three and six months ended June 30, 2018, is primarily due to the lower statutory federal corporate tax rate under the Tax Act and the amortization of federal and state excess deferred taxes. The decrease in the ETR for Duke Energy Progress for the three months ended June 30, 2018, is primarily due to the lower statutory federal tax rate under the Tax Act. The decrease in the ETR for Duke Energy Progress for the six months ended June 30, 2018, is primarily due to the lower statutory federal tax rate under the Tax Act and the amortization of state excess deferred taxes. The decrease in the ETR for Duke Energy Florida for the three and six months ended June 30, 2018, is primarily due to the lower statutory federal corporate tax rate under the Tax Act and the amortization of federal excess deferred taxes. The decrease in the ETR for Duke Energy Ohio for the three months ended June 30, 2018, is primarily due to the lower statutory federal tax rate under the Tax Act. The decrease in the ETR for Duke Energy Ohio for the six months ended June 30, 2018, is primarily due to the lower statutory federal tax rate under the Tax Act and an increase in AFUDC equity. The decrease in the ETR for Duke Energy Indiana for the three and six months ended June 30, 2018, is primarily due to the lower statutory federal corporate tax rate under the Tax Act. The decrease in the ETR for Piedmont for the three and six months ended June 30, 2018, is primarily due to the lower statutory federal corporate tax rate under the Tax Act.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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