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Asset Retirement Obligations | 3 Months Ended
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Mar. 31, 2019
Asset Retirement Obligation [Abstract] |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS The Duke Energy Registrants record AROs when there is a legal obligation to incur retirement costs associated with the retirement of a long-lived asset and the obligation can be reasonably estimated. Actual closure costs incurred could be materially different from current estimates that form the basis of the recorded AROs. The following table presents the AROs recorded on the Condensed Consolidated Balance Sheets.
| March 31, 2019
|  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Decommissioning of nuclear power facilities(a) | $ | 5,753 |  |  | $ | 2,368 |  |  | $ | 3,239 |  |  | $ | 2,709 |  |  | $ | 530 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Closure of ash impoundments | 6,961 |  |  | 3,013 |  |  | 3,197 |  |  | 3,177 |  |  | 20 |  |  | 52 |  |  | 699 |  |  | — |
Other | 321 |  |  | 47 |  |  | 70 |  |  | 37 |  |  | 33 |  |  | 41 |  |  | 20 |  |  | 19 |
Total ARO | $ | 13,035 |  |  | $ | 5,428 |  |  | $ | 6,506 |  |  | $ | 5,923 |  |  | $ | 583 |  |  | $ | 93 |  |  | $ | 719 |  |  | $ | 19 |
Less: current portion | 779 |  |  | 209 |  |  | 456 |  |  | 452 |  |  | 4 |  |  | 6 |  |  | 108 |  |  | — |
Total noncurrent ARO | $ | 12,256 |  |  | $ | 5,219 |  |  | $ | 6,050 |  |  | $ | 5,471 |  |  | $ | 579 |  |  | $ | 87 |  |  | $ | 611 |  |  | $ | 19 |
(a) Duke Energy amount includes purchase accounting adjustments related to the merger with Progress Energy. ARO Liability Rollforward The following table presents the change in liability associated with AROs for the Duke Energy Registrants.
|  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Balance at December 31, 2018(a) | $ | 10,467 |  |  | $ | 3,949 |  |  | $ | 5,411 |  |  | $ | 4,820 |  |  | $ | 591 |  |  | $ | 93 |  |  | $ | 722 |  |  | $ | 19 |
Accretion expense(b) | 110 |  |  | 48 |  |  | 57 |  |  | 50 |  |  | 7 |  |  | 1 |  |  | 7 |  |  | — |
Liabilities settled(c) | (184 | ) |  | (76 | ) |  | (97 | ) |  | (82 | ) |  | (15 | ) |  | (1 | ) |  | (10 | ) |  | — |
Revisions in estimates of cash flows(d) | 2,642 |  |  | 1,507 |  |  | 1,135 |  |  | 1,135 |  |  | — |  |  | — |  |  | — |  |  | — |
Balance at March 31, 2019 | $ | 13,035 |  |  | $ | 5,428 |  |  | $ | 6,506 |  |  | $ | 5,923 |  |  | $ | 583 |  |  | $ | 93 |  |  | $ | 719 |  |  | $ | 19 |
(a) | Primarily relates to decommissioning nuclear power facilities, closure of ash impoundments, asbestos removal, closure of landfills at fossil generation facilities, retirement of natural gas mains and removal of renewable energy generation assets.
(b) | For the three months ended March 31, 2019, substantially all accretion expense relates to Duke Energy's regulated operations and has been deferred in accordance with regulatory accounting treatment.
(c) | Primarily relates to ash impoundment closures.
(d) | Relates to increases in closure estimates for certain ash impoundments as a result of the NCDEQ's determination that all ash basins must be excavated. See Note 4 for more information. The incremental amount recorded represents the discounted cash flows for estimated closure costs based upon the probability weightings of the potential closure methods as evaluated on a site-by-site basis.
Asset retirement costs associated with the AROs for operating plants and retired plants are included in Net property, plant and equipment and Regulatory assets within Other Noncurrent Assets, respectively, on the Condensed Consolidated Balance Sheets. Nuclear Decommissioning Trust Funds Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida each maintain NDTFs that are intended to pay for the decommissioning costs of their respective nuclear power plants. The following table presents the fair value of NDTF assets legally restricted for purposes of settling AROs associated with nuclear decommissioning. Duke Energy Florida is actively decommissioning Crystal River Unit 3 and was granted an exemption from the NRC, which allows for use of the NDTF for all aspects of nuclear decommissioning. The entire balance of Duke Energy Florida's NDTF may be applied toward license termination, spent fuel and site restoration costs incurred to decommission Crystal River Unit 3 and is excluded from the table below. See Note 12 for additional information related to the fair value of the Duke Energy Registrants' NDTFs.
(in millions) | March 31, 2019 |  | December 31, 2018
Duke Energy | $ | 6,102 |  |  | $ | 5,579 |
Duke Energy Carolinas | 3,443 |  |  | 3,133 |
Duke Energy Progress | 2,659 |  |  | 2,446 |

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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2175671 + Details
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