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Business Segments | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Business Segments | BUSINESS SEGMENTS Operating 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. Segment income includes intercompany revenues and expenses that are eliminated on the Condensed Consolidated Financial Statements. Certain governance costs are allocated to each segment. In addition, direct interest expense and income taxes are included in segment income. Duke Energy Duke Energy's segment structure includes the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure 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. Electric Utilities and Infrastructure also includes Duke Energy's electric transmission infrastructure investments. The Gas Utilities and Infrastructure segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky, and Duke Energy's natural gas storage and midstream pipeline investments. Gas Utilities and Infrastructure's operations are substantially all regulated and, accordingly, qualify for regulatory accounting treatment. Commercial Renewables is primarily comprised of nonregulated utility scale wind and solar generation assets located throughout the U.S. 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 Insurance Company Limited (Bison). Other also includes Duke Energy's 17.5 percent interest in National Methanol Company (NMC), a large regional producer of methyl tertiary butyl ether located in Saudi Arabia. The investment in NMC is accounted for under the equity method of accounting. Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.
| Three Months Ended September 30, 2018
| Electric |  |  | Gas |  |  |  |  | Total |  |  |  |  |  |  |
| Utilities and |  |  | Utilities and |  |  | Commercial |  |  | Reportable |  |  |  |  |  |  |
(in millions) | Infrastructure |  |  | Infrastructure |  |  | Renewables |  |  | Segments |  |  | Other |  |  | Eliminations |  |  | Consolidated |
Unaffiliated revenues | $ | 6,253 |  |  | $ | 232 |  |  | $ | 127 |  |  | $ | 6,612 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 6,628 |
Intersegment revenues | 7 |  |  | 24 |  |  | — |  |  | 31 |  |  | 18 |  |  | (49 | ) |  | — |
Total revenues | $ | 6,260 |  |  | $ | 256 |  |  | $ | 127 |  |  | $ | 6,643 |  |  | $ | 34 |  |  | $ | (49 | ) |  | $ | 6,628 |
Segment income (loss)(a)(b)(c) | $ | 1,167 |  |  | $ | 17 |  |  | $ | (62 | ) |  | $ | 1,122 |  |  | $ | (44 | ) |  | $ | — |  |  | $ | 1,078 |
Add back noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | (16 | )
Income from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  | 4 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,066 |
Segment assets | $ | 123,847 |  |  | $ | 11,806 |  |  | $ | 4,212 |  |  | $ | 139,865 |  |  | $ | 3,115 |  |  | $ | 185 |  |  | $ | 143,165 |
| Three Months Ended September 30, 2017
| Electric |  |  | Gas |  |  |  |  | Total |  |  |  |  |  |  |
| Utilities and |  |  | Utilities and |  |  | Commercial |  |  | Reportable |  |  |  |  |  |  |
(in millions) | Infrastructure |  |  | Infrastructure |  |  | Renewables |  |  | Segments |  |  | Other |  |  | Eliminations |  |  | Consolidated |
Unaffiliated revenues | $ | 6,122 |  |  | $ | 249 |  |  | $ | 95 |  |  | $ | 6,466 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 6,482 |
Intersegment revenues | 7 |  |  | 23 |  |  | — |  |  | 30 |  |  | 19 |  |  | (49 | ) |  | — |
Total revenues | $ | 6,129 |  |  | $ | 272 |  |  | $ | 95 |  |  | $ | 6,496 |  |  | $ | 35 |  |  | $ | (49 | ) |  | $ | 6,482 |
Segment income (loss)(b)(d)(e) | $ | 1,020 |  |  | $ | 19 |  |  | $ | (49 | ) |  | $ | 990 |  |  | $ | (34 | ) |  | $ | — |  |  | $ | 956 |
Add back noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
Loss from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  | (2 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 955 |
(a) | All segments include adjustments to the December 31, 2017 estimate of the income tax effects of the Tax Act. See Note 17 for additional information.
(b) | Other includes costs to achieve the Piedmont acquisition.
(c) | Commercial Renewables includes an impairment charge related to goodwill. See Note 7 for additional information.
(d) | Electric Utilities and Infrastructure includes an impairment charge related to the unrecovered Levy Nuclear Project costs at Duke Energy Florida.
(e) | Commercial Renewables includes impairment charges related to certain wind projects.
| Nine Months Ended September 30, 2018
| Electric |  |  | Gas |  |  |  |  | Total |  |  |  |  |  |  |
| Utilities and |  |  | Utilities and |  |  | Commercial |  |  | Reportable |  |  |  |  |  |  |
(in millions) | Infrastructure |  |  | Infrastructure |  |  | Renewables |  |  | Segments |  |  | Other |  |  | Eliminations |  |  | Consolidated |
Unaffiliated revenues | $ | 16,783 |  |  | $ | 1,229 |  |  | $ | 347 |  |  | $ | 18,359 |  |  | $ | 47 |  |  | $ | — |  |  | $ | 18,406 |
Intersegment revenues | 23 |  |  | 72 |  |  | — |  |  | 95 |  |  | 54 |  |  | (149 | ) |  | — |
Total revenues | $ | 16,806 |  |  | $ | 1,301 |  |  | $ | 347 |  |  | $ | 18,454 |  |  | $ | 101 |  |  | $ | (149 | ) |  | $ | 18,406 |
Segment income (loss)(a)(b)(c)(d)(e)(f) | $ | 2,492 |  |  | $ | 161 |  |  | $ | (4 | ) |  | $ | 2,649 |  |  | $ | (446 | ) |  | $ | — |  |  | $ | 2,203 |
Add back noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | (12 | )
Loss from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  | (1 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,190 |
| Nine Months Ended September 30, 2017
| Electric |  |  | Gas |  |  |  |  | Total |  |  |  |  |  |  |
| Utilities and |  |  | Utilities and |  |  | Commercial |  |  | Reportable |  |  |  |  |  |  |
(in millions) | Infrastructure |  |  | Infrastructure |  |  | Renewables |  |  | Segments |  |  | Other |  |  | Eliminations |  |  | Consolidated |
Unaffiliated revenues | $ | 16,211 |  |  | $ | 1,175 |  |  | $ | 333 |  |  | $ | 17,719 |  |  | $ | 47 |  |  | $ | — |  |  | $ | 17,766 |
Intersegment revenues | 23 |  |  | 68 |  |  | — |  |  | 91 |  |  | 56 |  |  | (147 | ) |  | — |
Total revenues | $ | 16,234 |  |  | $ | 1,243 |  |  | $ | 333 |  |  | $ | 17,810 |  |  | $ | 103 |  |  | $ | (147 | ) |  | $ | 17,766 |
Segment income (loss)(c)(g)(h) | $ | 2,384 |  |  | $ | 179 |  |  | $ | 2 |  |  | $ | 2,565 |  |  | $ | (205 | ) |  | $ | — |  |  | $ | 2,360 |
Add back noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | 5 |
Loss from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  | (4 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,361 |
(a) | All segments include adjustments to the December 31, 2017 estimate of the income tax effects of the Tax Act. See Note 17 for additional information.
(b) | Electric Utilities and Infrastructure includes regulatory and legislative impairment charges related to rate case orders, settlements or other actions of regulators or legislative bodies. See Note 3 for additional information.
(c) | Other includes costs to achieve the Piedmont acquisition.
(d) | Gas Utilities and Infrastructure includes an impairment of the investment in Constitution Pipeline Company, LLC (Constitution). See Note 3 for additional information.
(e) | Other includes the loss on the sale of the retired Beckjord Generating Station (Beckjord) described below and a valuation allowance recorded against the alternative minimum tax credits subject to sequestration. See Note 17 for additional information on the valuation allowance.
(f) | Commercial Renewables includes an impairment charge related to goodwill. See Note 7 for additional information.
(g) | Electric Utilities and Infrastructure includes an impairment charge related to the unrecovered Levy Nuclear Project costs at Duke Energy Florida.
(h) | Commercial Renewables includes impairment charges related to certain wind projects.
In February 2018, Duke Energy sold Beckjord, a nonregulated facility retired during 2014, and recorded a pretax loss of $106 million within Gains (Losses) on Sales of Other Assets and Other, net and $1 million within Operation, maintenance and other on Duke Energy's Condensed Consolidated Statements of Operations for the nine months ended September 30, 2018. The sale included the transfer of coal ash basins and other real property and indemnification from any and all potential future claims related to the property, whether arising under environmental laws or otherwise. Duke Energy Ohio Duke Energy Ohio has two reportable operating segments, Electric Utilities and Infrastructure and Gas Utilities and Infrastructure. Electric Utilities and Infrastructure transmits and distributes electricity in portions of Ohio and generates, distributes and sells electricity in portions of Northern Kentucky. Gas Utilities and Infrastructure transports and sells natural gas in portions of Ohio and Northern Kentucky. Both reportable operating 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, which is primarily comprised of governance costs allocated by its parent, Duke Energy, and revenues and expenses related to Duke Energy Ohio's contractual arrangement to buy power from the Ohio Valley Electric Corporation's (OVEC) power plants. See Note 8 for additional information on related party transactions.
| Three Months Ended September 30, 2018
| Electric |  |  | Gas |  |  | Total |  |  |  |  |  |  |
| Utilities and |  |  | Utilities and |  |  | Reportable |  |  |  |  |  |  |
(in millions) | Infrastructure |  |  | Infrastructure |  |  | Segments |  |  | Other |  |  | Eliminations |  |  | Consolidated |
Total revenues | $ | 373 |  |  | $ | 84 |  |  | $ | 457 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 469 |
Segment income/Net income | $ | 85 |  |  | $ | 12 |  |  | $ | 97 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 100 |
Segment assets | $ | 5,484 |  |  | $ | 2,775 |  |  | $ | 8,259 |  |  | $ | 39 |  |  | $ | (2 | ) |  | $ | 8,296 |
| Three Months Ended September 30, 2017
| Electric |  |  | Gas |  |  | Total |  |  |  |  |
| Utilities and |  |  | Utilities and |  |  | Reportable |  |  |  |  |
(in millions) | Infrastructure |  |  | Infrastructure |  |  | Segments |  |  | Other |  |  | Consolidated |
Total revenues | $ | 371 |  |  | $ | 90 |  |  | $ | 461 |  |  | $ | 10 |  |  | $ | 471 |
Segment income (loss) | $ | 50 |  |  | $ | 14 |  |  | $ | 64 |  |  | $ | (8 | ) |  | $ | 56 |
Loss from discontinued operations, net of tax |  |  |  |  |  |  |  |  | (1 | )
Net income |  |  |  |  |  |  |  |  |  |  |  | $ | 55 |
| Nine Months Ended September 30, 2018
| Electric |  |  | Gas |  |  | Total |  |  |  |  |
| Utilities and |  |  | Utilities and |  |  | Reportable |  |  |  |  |
(in millions) | Infrastructure |  |  | Infrastructure |  |  | Segments |  |  | Other |  |  | Consolidated |
Total revenues | $ | 1,055 |  |  | $ | 361 |  |  | $ | 1,416 |  |  | $ | 36 |  |  | $ | 1,452 |
Segment income (loss)/Net income(a) | $ | 157 |  |  | $ | 64 |  |  | $ | 221 |  |  | $ | (100 | ) |  | $ | 121 |
| Nine Months Ended September 30, 2017
| Electric |  |  | Gas |  |  | Total |  |  |  |  |
| Utilities and |  |  | Utilities and |  |  | Reportable |  |  |  |  |
(in millions) | Infrastructure |  |  | Infrastructure |  |  | Segments |  |  | Other |  |  | Consolidated |
Total revenues | $ | 1,036 |  |  | $ | 360 |  |  | $ | 1,396 |  |  | $ | 30 |  |  | $ | 1,426 |
Segment income (loss) | $ | 96 |  |  | $ | 56 |  |  | $ | 152 |  |  | $ | (24 | ) |  | $ | 128 |
Loss from discontinued operations, net of tax |  |  |  |  |  |  |  |  | (1 | )
Net income |  |  |  |  |  |  |  |  | $ | 127 |
(a) Other includes the loss on the sale of Beckjord.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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