XML 145 R38.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Accounting Policies [Abstract] |
Schedule of Current and Noncurrent Assets and Liabilities | The following table provides a description of amounts included in Other within Current Assets or Current Liabilities that exceed 5% of total Current Assets or Current Liabilities on the Duke Energy Registrants' Consolidated Balance Sheets at either December 31, 2019, or 2018.
|  |  | December 31,
(in millions) | Location |  | 2019 |  |  | 2018 |
Duke Energy |  |  |  |  |
Taxes receivable | Current Assets |  | $ | 357 |  |  | $ | 729 |
Accrued compensation | Current Liabilities |  | 862 |  |  | 793 |
Duke Energy Carolinas |  |  |  |  |
Accrued compensation | Current Liabilities |  | $ | 271 |  |  | $ | 251 |
Other accrued liabilities | Current Liabilities |  | 147 |  |  | 55 |
Progress Energy |  |  |  |  |  |  |
Customer deposits | Current Liabilities |  | $ | 354 |  |  | $ | 345 |
Duke Energy Florida |  |  |  |  |  |  |
Customer deposits | Current Liabilities |  | $ | 209 |  |  | $ | 208 |
Other accrued liabilities | Current Liabilities |  | 89 |  |  | 85 |
Duke Energy Indiana |  |  |  |  |  |  |
Income taxes receivable | Current Assets |  | $ | 44 |  |  | $ | 9 |
Customer deposits | Current Liabilities |  | 49 |  |  | 47 |
Schedule of Cash and Cash Equivalents | The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
| December 31, 2019 |  | December 31, 2018
|  |  | Duke |  |  |  |  | Duke |
| Duke |  | Progress |  | Energy |  |  | Duke |  | Progress |  | Energy |
| Energy |  | Energy |  | Florida |  |  | Energy |  | Energy |  | Florida |
Current Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 311 |  | $ | 48 |  | $ | 17 |  |  | $ | 442 |  | $ | 67 |  | $ | 36 |
Other | 222 |  | 39 |  | 39 |  |  | 141 |  | 39 |  | 39 |
Other Noncurrent Assets |  |  |  |  |  |  |
Other | 40 |  | 39 |  | — |  |  | 8 |  | 6 |  | — |
Total cash, cash equivalents and restricted cash | $ | 573 |  | $ | 126 |  | $ | 56 |  |  | $ | 591 |  | $ | 112 |  | $ | 75 |
Components of Inventory | The components of inventory are presented in the tables below.
| December 31, 2019
|  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Materials and supplies | $ | 2,297 |  |  | $ | 768 |  |  | $ | 1,038 |  |  | $ | 686 |  |  | $ | 351 |  |  | $ | 79 |  |  | $ | 318 |  |  | $ | 5 |
Coal | 586 |  |  | 187 |  |  | 186 |  |  | 138 |  |  | 48 |  |  | 15 |  |  | 198 |  |  | — |
Natural gas, oil and other | 349 |  |  | 41 |  |  | 199 |  |  | 110 |  |  | 90 |  |  | 41 |  |  | 1 |  |  | 67 |
Total inventory | $ | 3,232 |  |  | $ | 996 |  |  | $ | 1,423 |  |  | $ | 934 |  |  | $ | 489 |  |  | $ | 135 |  |  | $ | 517 |  |  | $ | 72 |
| December 31, 2018
|  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Materials and supplies | $ | 2,238 |  |  | $ | 731 |  |  | $ | 1,049 |  |  | $ | 734 |  |  | $ | 315 |  |  | $ | 84 |  |  | $ | 312 |  |  | $ | 2 |
Coal | 491 |  |  | 175 |  |  | 192 |  |  | 106 |  |  | 86 |  |  | 14 |  |  | 109 |  |  | — |
Natural gas, oil and other | 355 |  |  | 42 |  |  | 218 |  |  | 114 |  |  | 103 |  |  | 28 |  |  | 1 |  |  | 68 |
Total inventory | $ | 3,084 |  |  | $ | 948 |  |  | $ | 1,459 |  |  | $ | 954 |  |  | $ | 504 |  |  | $ | 126 |  |  | $ | 422 |  |  | $ | 70 |
Schedule of Property, Plant and Equipment | The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
| Years Ended December 31,
| 2019 |  |  | 2018 |  |  | 2017 |
Duke Energy | 3.1 | % |  | 3.0 | % |  | 2.8 | %
Duke Energy Carolinas | 2.8 | % |  | 2.8 | % |  | 2.8 | %
Progress Energy | 3.1 | % |  | 2.9 | % |  | 2.6 | %
Duke Energy Progress | 3.1 | % |  | 2.9 | % |  | 2.6 | %
Duke Energy Florida | 3.1 | % |  | 3.0 | % |  | 2.8 | %
Duke Energy Ohio | 2.6 | % |  | 2.8 | % |  | 2.8 | %
Duke Energy Indiana | 3.3 | % |  | 3.3 | % |  | 3.0 | %
Piedmont | 2.4 | % |  | 2.5 | % |  | 2.3 | %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
| December 31, 2019
| 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 |  |  | $ | 2,091 |  |  | $ | 520 |  |  | $ | 884 |  |  | $ | 449 |  |  | $ | 435 |  |  | $ | 150 |  |  | $ | 117 |  |  | $ | 388 |
Plant – Regulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 15-100 |  | 111,739 |  |  | 42,723 |  |  | 48,142 |  |  | 30,018 |  |  | 18,124 |  |  | 5,838 |  |  | 15,032 |  |  | — |
Natural gas transmission and distribution | 4-73 |  | 9,839 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,892 |  |  | — |  |  | 6,947 |
Other buildings and improvements | 23-90 |  | 1,810 |  |  | 714 |  |  | 401 |  |  | 162 |  |  | 239 |  |  | 269 |  |  | 278 |  |  | 148 |
Plant – Nonregulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 5-30 |  | 5,103 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other buildings and improvements | 25-35 |  | 488 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Nuclear fuel |  |  | 3,253 |  |  | 1,891 |  |  | 1,362 |  |  | 1,362 |  |  | — |  |  | — |  |  | — |  |  | — |
Equipment | 3-25 |  | 2,313 |  |  | 546 |  |  | 665 |  |  | 452 |  |  | 213 |  |  | 319 |  |  | 205 |  |  | 128 |
Construction in process |  |  | 6,102 |  |  | 1,389 |  |  | 2,149 |  |  | 1,114 |  |  | 1,035 |  |  | 504 |  |  | 381 |  |  | 531 |
Other | 2-40 |  | 4,916 |  |  | 1,139 |  |  | 1,467 |  |  | 1,046 |  |  | 411 |  |  | 269 |  |  | 292 |  |  | 304 |
Total property, plant and equipment(a)(e) |  |  | 147,654 |  |  | 48,922 |  |  | 55,070 |  |  | 34,603 |  |  | 20,457 |  |  | 10,241 |  |  | 16,305 |  |  | 8,446 |
Total accumulated depreciation – regulated(b)(c) |  |  | (43,419 | ) |  | (16,525 | ) |  | (17,159 | ) |  | (11,915 | ) |  | (5,236 | ) |  | (2,843 | ) |  | (5,233 | ) |  | (1,681 | )
Total accumulated depreciation – nonregulated(d)(e) |  |  | (2,354 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Generation facilities to be retired, net |  |  | 246 |  |  | — |  |  | 246 |  |  | 246 |  |  | — |  |  | — |  |  | — |  |  | — |
Total net property, plant and equipment |  |  | $ | 102,127 |  |  | $ | 32,397 |  |  | $ | 38,157 |  |  | $ | 22,934 |  |  | $ | 15,221 |  |  | $ | 7,398 |  |  | $ | 11,072 |  |  | $ | 6,765 |
(a) | Includes finance leases of $952 million, $211 million, $443 million, $308 million, $135 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $143 million, $17 million and $126 million, respectively, of accumulated amortization of finance leases.
(b) | Includes $1,807 million, $1,082 million, $725 million and $725 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 finance leases of $6 million, $13 million and $3 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d) | Includes accumulated amortization of finance leases of $20 million at Duke Energy.
(e) Includes gross property, plant and equipment cost of consolidated VIEs of $5,747 million and accumulated depreciation of consolidated VIEs of $1,041 million at Duke Energy.
| 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 finance 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 finance 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 finance 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.
Schedule of Excise Taxes | Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows.
| Years Ended December 31,
(in millions) | 2019 |  |  | 2018 |  |  | 2017 |
Duke Energy | $ | 421 |  |  | $ | 405 |  |  | $ | 376 |
Duke Energy Carolinas | 39 |  |  | 35 |  |  | 36 |
Progress Energy | 256 |  |  | 241 |  |  | 220 |
Duke Energy Progress | 21 |  |  | 19 |  |  | 19 |
Duke Energy Florida | 235 |  |  | 222 |  |  | 201 |
Duke Energy Ohio | 101 |  |  | 105 |  |  | 98 |
Duke Energy Indiana | 23 |  |  | 22 |  |  | 20 |
Piedmont | 2 |  |  | 2 |  |  | 2 |
Summary of Effects of New Accounting Pronouncements | Duke Energy elected the modified retrospective method of adoption effective January 1, 2019. Under the modified retrospective method of adoption, prior year reported results are not restated. For adoption, Duke Energy elected to apply the following practical expedients:
Practical Expedient | Description
Package of transition practical expedients (for leases commenced prior to adoption date and must be adopted as a package) | Do not need to 1) reassess whether any expired or existing contracts are/or contain leases, 2) reassess the lease classification for any expired or existing leases and 3) reassess initial direct costs for any existing leases.
Short-term lease expedient (elect by class of underlying asset) | Elect as an accounting policy to not apply the recognition requirements to short-term leases by asset class.
Lease and non-lease components (elect by class of underlying asset) | Elect as an accounting policy to not separate non-lease components from lease components and instead account for each lease and associated non-lease component as a single lease component by asset class.
Hindsight expedient (when determining lease term) | Elect to use hindsight to determine the lease term.
Existing and expired land easements not previously accounted for as leases | Elect to not evaluate existing or expired easements under the new guidance and carry forward current accounting treatment.
Comparative reporting requirements for initial adoption | Elect to apply transition requirements at adoption date, recognize cumulative effect adjustment to retained earnings in period of adoption and not apply the new requirements to comparative periods, including disclosures.
Lessor expedient (elect by class of underlying asset) | Elect as an accounting policy to aggregate non-lease components with the related lease component when specified conditions are met by asset class. Account for the combined component based on its predominant characteristic (revenue or operating lease).
Duke Energy currently expects to record a reserve for credit losses as shown in approximate amounts in the table below:
| December 31, 2019
|  |  | Duke |  |  |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Progress |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | Carolinas |  |  | Energy |  |  | Progress |  |  | Florida |  |  | Piedmont |
Total pretax impact to Retained Earnings | $ | 120 |  |  | $ | 16 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |

X
- Definition Schedule of other current and noncurrent assets and liabilities that exeed 5% threshold but are not disclosed on the face of the balance sheet. + References No definition available. + Details
Name: | duk_ScheduleOfCurrentAndNoncurrentAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | duk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of excise taxes accounted for on a gross basis during the reporting period. + References No definition available. + Details
Name: | duk_ScheduleOfExciseTaxesTableTextBlock
Namespace Prefix: | duk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of cash and cash equivalents. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of public utility physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, deprecation expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 20 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84167750&loc=d3e42232-110370 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfPublicUtilityPropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all information related to inventories for utilities. + References No definition available. + Details
Name: | us-gaap_ScheduleOfUtilityInventoryTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration