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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
| December 31, 2018
| Estimated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Useful |  |  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Life |  | Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | (Years) |  | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont
Land |  |  | $ | 2,072 |  |  | $ | 472 |  |  | $ | 868 |  |  | $ | 445 |  |  | $ | 423 |  |  | $ | 136 |  |  | $ | 116 |  |  | $ | 448 |
Plant – Regulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 15-100 |  | 100,706 |  |  | 38,468 |  |  | 42,760 |  |  | 26,147 |  |  | 16,613 |  |  | 5,182 |  |  | 14,292 |  |  | — |
Natural gas transmission and distribution | 12-80 |  | 8,808 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,719 |  |  | — |  |  | 6,089 |
Other buildings and improvements | 24-90 |  | 1,966 |  |  | 681 |  |  | 636 |  |  | 295 |  |  | 341 |  |  | 270 |  |  | 253 |  |  | 126 |
Plant – Nonregulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 5-30 |  | 4,410 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other buildings and improvements | 25-35 |  | 494 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Nuclear fuel |  |  | 3,460 |  |  | 1,898 |  |  | 1,562 |  |  | 1,562 |  |  | — |  |  | — |  |  | — |  |  | — |
Equipment | 3-55 |  | 2,141 |  |  | 467 |  |  | 565 |  |  | 399 |  |  | 166 |  |  | 384 |  |  | 178 |  |  | 141 |
Construction in process |  |  | 5,726 |  |  | 1,678 |  |  | 2,515 |  |  | 1,659 |  |  | 856 |  |  | 412 |  |  | 325 |  |  | 382 |
Other | 3-40 |  | 4,675 |  |  | 1,077 |  |  | 1,354 |  |  | 952 |  |  | 393 |  |  | 257 |  |  | 279 |  |  | 300 |
Total property, plant and equipment(a)(d) |  |  | 134,458 |  |  | 44,741 |  |  | 50,260 |  |  | 31,459 |  |  | 18,792 |  |  | 9,360 |  |  | 15,443 |  |  | 7,486 |
Total accumulated depreciation – regulated(b)(c)(d) |  |  | (41,079 | ) |  | (15,496 | ) |  | (16,398 | ) |  | (11,423 | ) |  | (4,968 | ) |  | (2,717 | ) |  | (4,914 | ) |  | (1,575 | )
Total accumulated depreciation – nonregulated(c)(d) |  |  | (2,047 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Generation facilities to be retired, net |  |  | 362 |  |  | — |  |  | 362 |  |  | 362 |  |  | — |  |  | — |  |  | — |  |  | — |
Total net property, plant and equipment |  |  | $ | 91,694 |  |  | $ | 29,245 |  |  | $ | 34,224 |  |  | $ | 20,398 |  |  | $ | 13,824 |  |  | $ | 6,643 |  |  | $ | 10,529 |  |  | $ | 5,911 |
(a) | Includes capitalized leases of $1,237 million, $135 million, $257 million, $137 million, $120 million, $73 million and $35 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $131 million, $14 million and $117 million, respectively, of accumulated amortization of capitalized leases.
(b) | Includes $1,947 million, $1,087 million, $860 million and $860 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c) | Includes accumulated amortization of capitalized leases of $61 million, $12 million, $20 million and $10 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively.
(d) | Includes gross property, plant and equipment cost of consolidated VIEs of $4,007 million and accumulated depreciation of consolidated VIEs of $698 million at Duke Energy.
| December 31, 2017
| Estimated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Useful |  |  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Life |  | Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | (Years) |  | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont
Land |  |  | $ | 1,559 |  |  | $ | 467 |  |  | $ | 767 |  |  | $ | 424 |  |  | $ | 343 |  |  | $ | 134 |  |  | $ | 111 |  |  | $ | 41 |
Plant – Regulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 8-100 |  | 93,687 |  |  | 35,657 |  |  | 39,419 |  |  | 24,502 |  |  | 14,917 |  |  | 4,870 |  |  | 13,741 |  |  | — |
Natural gas transmission and distribution | 12-80 |  | 8,292 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,559 |  |  | — |  |  | 5,733 |
Other buildings and improvements | 15-100 |  | 1,936 |  |  | 647 |  |  | 652 |  |  | 316 |  |  | 336 |  |  | 243 |  |  | 240 |  |  | 154 |
Plant – Nonregulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission(a) | 5-30 |  | 4,273 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other buildings and improvements | 25-35 |  | 465 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Nuclear fuel |  |  | 3,680 |  |  | 2,120 |  |  | 1,560 |  |  | 1,560 |  |  | — |  |  | — |  |  | — |  |  | — |
Equipment | 3-55 |  | 2,122 |  |  | 402 |  |  | 555 |  |  | 416 |  |  | 139 |  |  | 348 |  |  | 169 |  |  | 266 |
Construction in process |  |  | 6,995 |  |  | 2,614 |  |  | 3,059 |  |  | 1,434 |  |  | 1,625 |  |  | 350 |  |  | 416 |  |  | 231 |
Other | 3-40 |  | 4,498 |  |  | 1,032 |  |  | 1,311 |  |  | 931 |  |  | 370 |  |  | 228 |  |  | 271 |  |  | 300 |
Total property, plant and equipment(b)(e) |  |  | 127,507 |  |  | 42,939 |  |  | 47,323 |  |  | 29,583 |  |  | 17,730 |  |  | 8,732 |  |  | 14,948 |  |  | 6,725 |
Total accumulated depreciation – regulated(c)(d)(e) |  |  | (39,742 | ) |  | (15,063 | ) |  | (15,857 | ) |  | (10,903 | ) |  | (4,947 | ) |  | (2,691 | ) |  | (4,662 | ) |  | (1,479 | )
Total accumulated depreciation – nonregulated(d)(e) |  |  | (1,795 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Generation facilities to be retired, net |  |  | 421 |  |  | — |  |  | 421 |  |  | 421 |  |  | — |  |  | — |  |  | — |  |  | — |
Total net property, plant and equipment |  |  | $ | 86,391 |  |  | $ | 27,876 |  |  | $ | 31,887 |  |  | $ | 19,101 |  |  | $ | 12,783 |  |  | $ | 6,041 |  |  | $ | 10,286 |  |  | $ | 5,246 |
(a) | Includes a pretax impairment charge of $58 million on a wholly owned non-contracted wind project. See discussion below.
(b) | Includes capitalized leases of $1,294 million, $81 million, $272 million, $139 million, $133 million, $80 million and $35 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $114 million, $11 million and $103 million, respectively, of accumulated amortization of capitalized leases.
(c) | Includes $2,113 million, $1,283 million, $831 million and $831 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(d) | Includes accumulated amortization of capitalized leases of $57 million, $11 million, $21 million and $9 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively.
(e) | Includes gross property, plant and equipment cost of consolidated VIEs of $3,941 million and accumulated depreciation of consolidated VIEs of $598 million at Duke Energy.
During the year ended December 31, 2017, Duke Energy recorded a pretax impairment charge of $69 million on a wholly owned non-contracted wind project. The impairment was recorded within Impairment charges on Duke Energy’s Consolidated Statements of Operations. $58 million of the impairment related to property, plant and equipment and $11 million of the impairment related to a net intangible asset; see Note 11 for additional information. The charge represents the excess carrying value over the estimated fair value of the project, which was based on a Level 3 Fair Value measurement that was determined from the income approach using discounted cash flows. The impairment was primarily due to the non-contracted wind project being located in a market that has experienced continued declining market pricing during 2017 and declining long-term forecasted energy and capacity prices, driven by low natural gas prices, additional renewable generation placed in service and lack of significant load growth. The following tables present capitalized interest, which includes the debt component of AFUDC.
| Years Ended December 31,
(in millions) | 2018 |  |  | 2017 |  |  | 2016 |
Duke Energy | $ | 161 |  |  | $ | 128 |  |  | $ | 100 |
Duke Energy Carolinas | 35 |  |  | 45 |  |  | 38 |
Progress Energy | 51 |  |  | 45 |  |  | 31 |
Duke Energy Progress | 26 |  |  | 21 |  |  | 17 |
Duke Energy Florida | 25 |  |  | 24 |  |  | 14 |
Duke Energy Ohio | 17 |  |  | 10 |  |  | 8 |
Duke Energy Indiana | 27 |  |  | 9 |  |  | 7 |
| Years Ended December 31, |  | Two Months Ended December 31, |  | Year Ended October 31,
(in millions) | 2018 |  | 2017 |  | 2016 |  | 2016
Piedmont | $ | 17 |  |  | $ | 12 |  |  | $ | 2 |  |  | $ | 12 |
Operating Leases Duke Energy's Commercial Renewables segment operates various renewable energy projects and sells the generated output to utilities, electric cooperatives, municipalities and commercial and industrial customers through long-term contracts. In certain situations, these long-term contracts and the associated renewable energy projects qualify as operating leases. Rental income from these leases is accounted for as Operating Revenues in the Consolidated Statements of Operations. There are no minimum lease payments as all payments are contingent based on actual electricity generated by the renewable energy projects. Contingent lease payments were $268 million, $262 million, and $216 million for the years ended December 31, 2018, 2017 and 2016. As of December 31, 2018, renewable energy projects owned by Duke Energy and accounted for as operating leases had a cost basis of $3,358 million and accumulated depreciation of $602 million. These assets are principally classified as nonregulated electric generation and transmission assets.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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