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Employee Benefit Plans | 6 Months Ended
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Jun. 30, 2019
Retirement Benefits [Abstract] |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS DEFINED BENEFIT RETIREMENT PLANS Duke Energy and certain subsidiaries maintain, and the Subsidiary Registrants participate in, qualified and non-qualified, non-contributory defined benefit retirement plans. Duke Energy's policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants. Duke Energy uses a December 31 measurement date for its qualified non-contributory defined benefit retirement plan assets and obligations. However, because Duke Energy believes it is probable in 2019 that total lump-sum benefit payments will exceed the settlement threshold, which is defined as the sum of the service cost and interest cost on projected benefit obligation components of net periodic pension costs, Duke Energy remeasured the plan assets and plan obligations associated with one of its qualified pension plans as of June 30, 2019. The discount rate used for the remeasurement was 3.5 percent. The cash balance interest crediting rate was 4.0 percent. All other assumptions used for the remeasurement were consistent with the measurement as of December 31, 2018. As a result, Duke Energy recognized a remeasurement gain of $18 million, which is recorded in Other within Other Noncurrent Assets on the Condensed Consolidated Balance Sheets as of June 30, 2019. The remeasurement gain, which represents an increase in funded status, reflects an increase of $275 million in the fair value of plan assets and an increase of $257 million in the projected benefit obligation. As the result of settlement accounting, Duke Energy recognized a settlement charge of $69 million, primarily as a regulatory asset within Other Noncurrent Assets on the Condensed Consolidated Balance Sheets as of June 30, 2019 (an immaterial amount was recorded in Other income and expenses, net within the Condensed Consolidated Statement of Operations). Settlement charges recognized by the Subsidiary Registrants were $43 million for Duke Energy Carolinas, $16 million for Duke Energy Progress, $3 million for Duke Energy Florida, $3 million for Duke Energy Indiana, $1 million for Duke Energy Ohio and $3 million for Piedmont. The settlement charge reflects the recognition of a pro-rata portion of previously unrecognized actuarial losses, equal to the percentage of reduction in the projected benefit obligation resulting from total lump-sum benefits payments as of June 30, 2019. QUALIFIED PENSION PLANS The following tables include the components of net periodic pension costs for qualified pension plans.
| Three Months Ended June 30, 2019
|  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Service cost | $ | 37 |  |  | $ | 12 |  |  | $ | 10 |  |  | $ | 6 |  |  | $ | 6 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 2 |
Interest cost on projected benefit obligation | 82 |  |  | 21 |  |  | 26 |  |  | 12 |  |  | 13 |  |  | 4 |  |  | 7 |  |  | 3 |
Expected return on plan assets | (143 | ) |  | (37 | ) |  | (45 | ) |  | (21 | ) |  | (22 | ) |  | (6 | ) |  | (10 | ) |  | (6 | )
Amortization of actuarial loss | 25 |  |  | 5 |  |  | 9 |  |  | 3 |  |  | 6 |  |  | — |  |  | 1 |  |  | 1 |
Amortization of prior service credit | (8 | ) |  | (2 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | — |  |  | (1 | ) |  | (2 | )
Net periodic pension costs | $ | (7 | ) |  | $ | (1 | ) |  | $ | — |  |  | $ | (1 | ) |  | $ | 2 |  |  | $ | (1 | ) |  | $ | (1 | ) |  | $ | (2 | )
| Three Months Ended June 30, 2018
|  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Service cost | $ | 45 |  |  | $ | 15 |  |  | $ | 13 |  |  | $ | 8 |  |  | $ | 6 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 2 |
Interest cost on projected benefit obligation | 75 |  |  | 18 |  |  | 22 |  |  | 10 |  |  | 12 |  |  | 4 |  |  | 6 |  |  | 3 |
Expected return on plan assets | (140 | ) |  | (37 | ) |  | (43 | ) |  | (21 | ) |  | (23 | ) |  | (7 | ) |  | (11 | ) |  | (6 | )
Amortization of actuarial loss | 33 |  |  | 7 |  |  | 11 |  |  | 5 |  |  | 6 |  |  | 1 |  |  | 2 |  |  | 3 |
Amortization of prior service credit | (8 | ) |  | (2 | ) |  | (1 | ) |  | (1 | ) |  | (1 | ) |  | — |  |  | — |  |  | (3 | )
Net periodic pension costs | $ | 5 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | (1 | )
| Six Months Ended June 30, 2019
|  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Service cost | $ | 74 |  |  | $ | 24 |  |  | $ | 21 |  |  | $ | 12 |  |  | $ | 10 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 3 |
Interest cost on projected benefit obligation | 165 |  |  | 41 |  |  | 52 |  |  | 24 |  |  | 27 |  |  | 9 |  |  | 13 |  |  | 6 |
Expected return on plan assets | (286 | ) |  | (75 | ) |  | (89 | ) |  | (44 | ) |  | (44 | ) |  | (14 | ) |  | (21 | ) |  | (11 | )
Amortization of actuarial loss | 49 |  |  | 11 |  |  | 18 |  |  | 6 |  |  | 12 |  |  | 1 |  |  | 3 |  |  | 3 |
Amortization of prior service credit | (16 | ) |  | (4 | ) |  | (1 | ) |  | (1 | ) |  | (1 | ) |  | — |  |  | (1 | ) |  | (5 | )
Net periodic pension costs | $ | (14 | ) |  | $ | (3 | ) |  | $ | 1 |  |  | $ | (3 | ) |  | $ | 4 |  |  | $ | (2 | ) |  | $ | (2 | ) |  | $ | (4 | )
| Six Months Ended June 30, 2018
|  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Service cost | $ | 90 |  |  | $ | 30 |  |  | $ | 26 |  |  | $ | 15 |  |  | $ | 11 |  |  | $ | 2 |  |  | $ | 5 |  |  | $ | 4 |
Interest cost on projected benefit obligation | 150 |  |  | 36 |  |  | 46 |  |  | 21 |  |  | 25 |  |  | 9 |  |  | 12 |  |  | 6 |
Expected return on plan assets | (280 | ) |  | (74 | ) |  | (88 | ) |  | (42 | ) |  | (46 | ) |  | (14 | ) |  | (21 | ) |  | (12 | )
Amortization of actuarial loss | 66 |  |  | 14 |  |  | 22 |  |  | 10 |  |  | 12 |  |  | 2 |  |  | 4 |  |  | 6 |
Amortization of prior service credit | (16 | ) |  | (4 | ) |  | (2 | ) |  | (1 | ) |  | (1 | ) |  | — |  |  | — |  |  | (6 | )
Net periodic pension costs | $ | 10 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | (2 | )
NON-QUALIFIED PENSION PLANS Net periodic pension costs for non-qualified pension plans were not material for the three and six months ended June 30, 2019, and 2018. OTHER POST-RETIREMENT BENEFIT PLANS Net periodic costs for OPEB plans were not material for the three and six months ended June 30, 2019, and 2018.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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