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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) DUKE ENERGY Quarterly EPS amounts may not sum to the full-year total due to changes in the weighted average number of common shares outstanding and rounding.
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions, except per share data) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 6,163 |  |  | $ | 5,873 |  |  | $ | 6,940 |  |  | $ | 6,103 |  |  | $ | 25,079 |
Operating income | 1,373 |  |  | 1,298 |  |  | 1,929 |  |  | 1,109 |  |  | 5,709 |
Income from continuing operations | 893 |  |  | 748 |  |  | 1,323 |  |  | 614 |  |  | 3,578 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (7 | ) |  | (7 | )
Net income | 893 |  |  | 748 |  |  | 1,323 |  |  | 607 |  |  | 3,571 |
Net income available to Duke Energy Corporation common stockholders | 900 |  |  | 820 |  |  | 1,327 |  |  | 660 |  |  | 3,707 |
Earnings per share: |  |  |  |  |  |  |  |  |
Income from continuing operations available to Duke Energy Corporation common stockholders |  |  |  |  |  |  |  |  |
Basic and diluted | $ | 1.24 |  |  | $ | 1.12 |  |  | $ | 1.82 |  |  | $ | 0.89 |  |  | $ | 5.07 |
Loss from discontinued operations attributable to Duke Energy Corporation common stockholders |  |  |  |  |  |  |  |  |
Basic and diluted | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.01 | ) |  | $ | (0.01 | )
Net income available to Duke Energy Corporation common stockholders |  |  |  |  |  |  |  |  |
Basic and diluted | $ | 1.24 |  |  | $ | 1.12 |  |  | $ | 1.82 |  |  | $ | 0.88 |  |  | $ | 5.06 |
2018 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 6,135 |  |  | $ | 5,643 |  |  | $ | 6,628 |  |  | $ | 6,115 |  |  | $ | 24,521 |
Operating income | 1,256 |  |  | 979 |  |  | 1,579 |  |  | 871 |  |  | 4,685 |
Income from continuing operations | 622 |  |  | 507 |  |  | 1,062 |  |  | 434 |  |  | 2,625 |
(Loss) Income from discontinued operations, net of tax | — |  |  | (5 | ) |  | 4 |  |  | 20 |  |  | 19 |
Net income | 622 |  |  | 502 |  |  | 1,066 |  |  | 454 |  |  | 2,644 |
Net income attributable to Duke Energy Corporation | 620 |  |  | 500 |  |  | 1,082 |  |  | 464 |  |  | 2,666 |
Earnings per share: |  |  |  |  |  |  |  |  |
Income from continuing operations attributable to Duke Energy Corporation common stockholders |  |  |  |  |  |  |  |  |
Basic and diluted | $ | 0.88 |  |  | $ | 0.72 |  |  | $ | 1.51 |  |  | $ | 0.62 |  |  | $ | 3.73 |
(Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders |  |  |  |  |  |  |  |  |
Basic and diluted | $ | — |  |  | $ | (0.01 | ) |  | $ | — |  |  | $ | 0.03 |  |  | $ | 0.03 |
Net income attributable to Duke Energy Corporation common stockholders |  |  |  |  |  |  |  |  |
Basic and diluted | $ | 0.88 |  |  | $ | 0.71 |  |  | $ | 1.51 |  |  | $ | 0.65 |  |  | $ | 3.76 |
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax.
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Impairment Charges (see Notes 4 and 13) | $ | — |  |  | $ | — |  |  | $ | 25 |  |  | $ | (14 | ) |  | $ | 11 |
Total | $ | — |  |  | $ | — |  |  | $ | 25 |  |  | $ | (14 | ) |  | $ | 11 |
2018 |  |  |  |  |  |  |  |  |  |
Costs to Achieve Piedmont Merger (see Note 2) | $ | (17 | ) |  | $ | (20 | ) |  | $ | (16 | ) |  | $ | (31 | ) |  | $ | (84 | )
Regulatory and Legislative Impacts (see Note 4) | (86 | ) |  | (179 | ) |  | — |  |  | — |  |  | (265 | )
Sale of Retired Plant (see Note 3) | (107 | ) |  | — |  |  | — |  |  | — |  |  | (107 | )
Impairment Charges (see Notes 4, 12 and 13) | (55 | ) |  | — |  |  | (93 | ) |  | (60 | ) |  | (208 | )
Severance Charges (see Note 21) | — |  |  | — |  |  | — |  |  | (187 | ) |  | (187 | )
Impacts of the Tax Act (see Note 24) | (76 | ) |  | — |  |  | 3 |  |  | 53 |  |  | (20 | )
Total | $ | (341 | ) |  | $ | (199 | ) |  | $ | (106 | ) |  | $ | (225 | ) |  | $ | (871 | )
DUKE ENERGY CAROLINAS
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 1,744 |  |  | $ | 1,713 |  |  | $ | 2,162 |  |  | $ | 1,776 |  |  | $ | 7,395 |
Operating income | 435 |  |  | 451 |  |  | 793 |  |  | 347 |  |  | 2,026 |
Net income | 293 |  |  | 301 |  |  | 590 |  |  | 219 |  |  | 1,403 |
2018 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 1,763 |  |  | $ | 1,672 |  |  | $ | 2,090 |  |  | $ | 1,775 |  |  | $ | 7,300 |
Operating income | 482 |  |  | 224 |  |  | 713 |  |  | 241 |  |  | 1,660 |
Net income | 323 |  |  | 117 |  |  | 496 |  |  | 135 |  |  | 1,071 |
The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2018 |  |  |  |  |  |  |  |  |
Costs to Achieve Piedmont Merger (see Note 2) | $ | (4 | ) |  | $ | (2 | ) |  | $ | (2 | ) |  | $ | (1 | ) |  | $ | (9 | )
Regulatory and Legislative Impacts (see Note 4) | (19 | ) |  | (179 | ) |  | — |  |  | — |  |  | (198 | )
Severance Charges (see Note 21) | — |  |  | — |  |  | — |  |  | (102 | ) |  | (102 | )
Impacts of the Tax Act (see Note 24) | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
Total | $ | (23 | ) |  | $ | (181 | ) |  | $ | (3 | ) |  | $ | (103 | ) |  | $ | (310 | )
PROGRESS ENERGY
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 2,572 |  |  | $ | 2,744 |  |  | $ | 3,242 |  |  | $ | 2,644 |  |  | $ | 11,202 |
Operating income | 488 |  |  | 580 |  |  | 786 |  |  | 447 |  |  | 2,301 |
Net income | 248 |  |  | 329 |  |  | 521 |  |  | 229 |  |  | 1,327 |
Net income attributable to Parent | 249 |  |  | 328 |  |  | 521 |  |  | 229 |  |  | 1,327 |
2018 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 2,576 |  |  | $ | 2,498 |  |  | $ | 3,045 |  |  | $ | 2,609 |  |  | $ | 10,728 |
Operating income | 447 |  |  | 484 |  |  | 663 |  |  | 334 |  |  | 1,928 |
Net income | 237 |  |  | 267 |  |  | 406 |  |  | 123 |  |  | 1,033 |
Net income attributable to Parent | 235 |  |  | 265 |  |  | 404 |  |  | 123 |  |  | 1,027 |
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax.
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Impairment Charges (see Note 4) | $ | — |  |  | $ | — |  |  | $ | 25 |  |  | $ | 11 |  |  | $ | 36 |
Total | $ | — |  |  | $ | — |  |  | $ | 25 |  |  | $ | 11 |  |  | $ | 36 |
2018 |  |  |  |  |  |  |  |  |  |
Costs to Achieve Piedmont Merger (see Note 2) | $ | (4 | ) |  | $ | (3 | ) |  | $ | (1 | ) |  | $ | (2 | ) |  | $ | (10 | )
Regulatory and Legislative Impacts (see Note 4) | (67 | ) |  | — |  |  | — |  |  | — |  |  | (67 | )
Impairment Charges (see Note 4) | — |  |  | — |  |  | — |  |  | (60 | ) |  | (60 | )
Severance Charges (see Note 21) | — |  |  | — |  |  | — |  |  | (69 | ) |  | (69 | )
Impacts of the Tax Act (see Note 24) | (1 | ) |  | — |  |  | (5 | ) |  | (19 | ) |  | (25 | )
Total | $ | (72 | ) |  | $ | (3 | ) |  | $ | (6 | ) |  | $ | (150 | ) |  | $ | (231 | )
DUKE ENERGY PROGRESS
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 1,484 |  |  | $ | 1,387 |  |  | $ | 1,688 |  |  | $ | 1,398 |  |  | $ | 5,957 |
Operating income | 300 |  |  | 259 |  |  | 373 |  |  | 236 |  |  | 1,168 |
Net income | 203 |  |  | 169 |  |  | 278 |  |  | 155 |  |  | 805 |
2018 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 1,460 |  |  | $ | 1,291 |  |  | $ | 1,582 |  |  | $ | 1,366 |  |  | $ | 5,699 |
Operating income | 269 |  |  | 233 |  |  | 330 |  |  | 227 |  |  | 1,059 |
Net income | 177 |  |  | 139 |  |  | 216 |  |  | 135 |  |  | 667 |
The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2018 |  |  |  |  |  |  |  |  |
Costs to Achieve Piedmont Merger (see Note 2) | $ | (2 | ) |  | $ | (2 | ) |  | $ | (1 | ) |  | $ | (1 | ) |  | $ | (6 | )
Regulatory and Legislative Impacts (see Note 4) | (67 | ) |  | — |  |  | — |  |  | — |  |  | (67 | )
Severance Charges (see Note 21) | — |  |  | — |  |  | — |  |  | (52 | ) |  | (52 | )
Impacts of the Tax Act (see Note 24) | — |  |  | — |  |  | (4 | ) |  | (15 | ) |  | (19 | )
Total | $ | (69 | ) |  | $ | (2 | ) |  | $ | (5 | ) |  | $ | (68 | ) |  | $ | (144 | )
DUKE ENERGY FLORIDA
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 1,086 |  |  | $ | 1,353 |  |  | $ | 1,548 |  |  | $ | 1,244 |  |  | $ | 5,231 |
Operating income | 188 |  |  | 321 |  |  | 413 |  |  | 205 |  |  | 1,127 |
Net income | 96 |  |  | 201 |  |  | 289 |  |  | 106 |  |  | 692 |
2018 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 1,115 |  |  | $ | 1,203 |  |  | $ | 1,462 |  |  | $ | 1,241 |  |  | $ | 5,021 |
Operating income | 173 |  |  | 245 |  |  | 331 |  |  | 107 |  |  | 856 |
Net income | 103 |  |  | 168 |  |  | 243 |  |  | 40 |  |  | 554 |
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax.
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Impairment Charges (see Note 4) | $ | — |  |  | $ | — |  |  | $ | 25 |  |  | $ | 11 |  |  | $ | 36 |
Total | $ | — |  |  | $ | — |  |  | $ | 25 |  |  | $ | 11 |  |  | $ | 36 |
2018 |  |  |  |  |  |  |  |  |
Costs to Achieve Piedmont Merger (see Note 2) | $ | (2 | ) |  | $ | (1 | ) |  | $ | — |  |  | $ | (1 | ) |  | $ | (4 | )
Impairment Charges (see Note 4) | — |  |  | — |  |  | — |  |  | (60 | ) |  | (60 | )
Severance Charges (see Note 21) | — |  |  | — |  |  | — |  |  | (17 | ) |  | (17 | )
Impacts of the Tax Act (see Note 24) | — |  |  | — |  |  | (2 | ) |  | 2 |  |  | — |
Total | $ | (2 | ) |  | $ | (1 | ) |  | $ | (2 | ) |  | $ | (76 | ) |  | $ | (81 | )
DUKE ENERGY OHIO
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 531 |  |  | $ | 433 |  |  | $ | 489 |  |  | $ | 487 |  |  | $ | 1,940 |
Operating income | 104 |  |  | 74 |  |  | 108 |  |  | 78 |  |  | 364 |
Net income | 69 |  |  | 47 |  |  | 74 |  |  | 48 |  |  | 238 |
2018 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 524 |  |  | $ | 459 |  |  | $ | 469 |  |  | $ | 505 |  |  | $ | 1,957 |
Operating (loss) income | (21 | ) |  | 77 |  |  | 139 |  |  | 93 |  |  | 288 |
Net (loss) income | (25 | ) |  | 46 |  |  | 100 |  |  | 55 |  |  | 176 |
The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2018 |  |  |  |  |  |  |  |  |
Costs to Achieve Piedmont Merger (see Note 2) | $ | (3 | ) |  | $ | (5 | ) |  | $ | — |  |  | $ | (6 | ) |  | $ | (14 | )
Sale of Retired Plant (see Note 3) | (107 | ) |  | — |  |  | — |  |  | — |  |  | (107 | )
Severance Charges (see Note 21) | — |  |  | — |  |  | — |  |  | (6 | ) |  | (6 | )
Impacts of the Tax Act (see Note 24) | — |  |  | — |  |  | — |  |  | (2 | ) |  | (2 | )
Total | $ | (110 | ) |  | $ | (5 | ) |  | $ | — |  |  | $ | (14 | ) |  | $ | (129 | )
DUKE ENERGY INDIANA
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 768 |  |  | $ | 714 |  |  | $ | 807 |  |  | $ | 715 |  |  | $ | 3,004 |
Operating income | 169 |  |  | 148 |  |  | 235 |  |  | 133 |  |  | 685 |
Net income | 110 |  |  | 97 |  |  | 156 |  |  | 73 |  |  | 436 |
2018 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 731 |  |  | $ | 738 |  |  | $ | 819 |  |  | $ | 771 |  |  | $ | 3,059 |
Operating income | 168 |  |  | 169 |  |  | 173 |  |  | 133 |  |  | 643 |
Net income | 100 |  |  | 98 |  |  | 119 |  |  | 76 |  |  | 393 |
The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2018 |  |  |  |  |  |  |  |  |
Costs to Achieve Piedmont Merger (see Note 2) | $ | — |  |  | $ | — |  |  | $ | (2 | ) |  | $ | — |  |  | $ | (2 | )
Severance Charges (see Note 21) | — |  |  | — |  |  | — |  |  | (7 | ) |  | (7 | )
Total | $ | — |  |  | $ | — |  |  | $ | (2 | ) |  | $ | (7 | ) |  | $ | (9 | )
PIEDMONT
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2019 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 579 |  |  | $ | 209 |  |  | $ | 168 |  |  | $ | 425 |  |  | $ | 1,381 |
Operating income (loss) | 172 |  |  | 6 |  |  | (13 | ) |  | 139 |  |  | 304 |
Net income (loss) | 122 |  |  | (7 | ) |  | (18 | ) |  | 105 |  |  | 202 |
2018 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 553 |  |  | $ | 215 |  |  | $ | 172 |  |  | $ | 435 |  |  | $ | 1,375 |
Operating income (loss) | 161 |  |  | 5 |  |  | (19 | ) |  | 79 |  |  | 226 |
Net income (loss) | 110 |  |  | (8 | ) |  | (21 | ) |  | 48 |  |  | 129 |
The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
| First |  |  | Second |  |  | Third |  |  | Fourth |  |  |
(in millions) | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Total |
2018 |  |  |  |  |  |  |  |  |
Costs to Achieve Piedmont Merger (see Note 2) | $ | (6 | ) |  | $ | (9 | ) |  | $ | (11 | ) |  | $ | (22 | ) |  | $ | (48 | )
Severance Charges (see Note 21) | — |  |  | — |  |  | — |  |  | (2 | ) |  | (2 | )
Total | $ | (6 | ) |  | $ | (9 | ) |  | $ | (11 | ) |  | $ | (24 | ) |  | $ | (50 | )

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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