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Debt and Credit Facilities | 9 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Debt And Credit Facilities | DEBT AND CREDIT FACILITIES SUMMARY OF SIGNIFICANT DEBT ISSUANCES The following table summarizes significant debt issuances (in millions).
|  |  |  |  | Nine Months Ended September 30, 2020
|  |  |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Maturity |  | Interest |  |  | Duke |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
Issuance Date | Date |  | Rate |  |  | Energy |  |  | (Parent) |  |  | Carolinas |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Unsecured Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
May 2020(a) | Jun 2030 |  | 2.450 | % |  | $ | 500 |  |  | $ | 500 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
May 2020(b) | Jun 2050 |  | 3.350 | % |  | 400 |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | 400 |
August 2020(c) | Feb 2022 |  | 0.430 | % | (d) | 700 |  |  | — |  |  | — |  |  | 700 |  |  | — |  |  | — |  |  | — |  |  | — |
September 2020(e) | Sep 2025 |  | 0.900 | % |  | 650 |  |  | 650 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
September 2020(e) | Jun 2030 |  | 2.450 | % |  | 350 |  |  | 350 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
First Mortgage Bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
January 2020(f) | Feb 2030 |  | 2.450 | % |  | 500 |  |  | — |  |  | 500 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
January 2020(f) | Aug 2049 |  | 3.200 | % |  | 400 |  |  | — |  |  | 400 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
March 2020(g) | Apr 2050 |  | 2.750 | % |  | 550 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 550 |  |  | — |
May 2020(b) | Jun 2030 |  | 2.125 | % |  | 400 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 400 |  |  | — |  |  | — |
June 2020(b) | Jun 2030 |  | 1.750 | % |  | 500 |  |  | — |  |  | — |  |  | — |  |  | 500 |  |  | — |  |  | — |  |  | — |
August 2020(h) | Aug 2050 |  | 2.500 | % |  | 600 |  |  | — |  |  | — |  |  | 600 |  |  | — |  |  | — |  |  | — |  |  | — |
Total issuances |  |  |  |  | $ | 5,550 |  |  | $ | 1,500 |  |  | $ | 900 |  |  | $ | 1,300 |  |  | $ | 500 |  |  | $ | 400 |  |  | $ | 550 |  |  | $ | 400 |
(a) | Debt issued to repay $500 million borrowing made under Duke Energy (Parent) revolving credit facility in March 2020, and for general corporate purposes.
(b) | Debt issued to repay short-term debt and for general corporate purposes.
(c) | Debt issued to repay $700 million two-year term loan facility expiring in December 2020.
(d) | Debt issuance has a floating interest rate.
(e) | Debt issued to repay a portion of outstanding commercial paper, to repay a portion of Duke Energy (Parent)'s outstanding $1.7 billion term loan due March 2021 and for general corporate purposes.
(f) | Debt issued to repay at maturity $450 million first mortgage bonds due June 2020 and for general corporate purposes.
(g) | Debt issued to repay at maturity $500 million first mortgage bonds due July 2020 and to pay down short-term debt.
(h) | Debt issued to repay at maturity $300 million first mortgage bonds due September 2020 and for general corporate purposes.
CURRENT MATURITIES OF LONG-TERM DEBT The following table shows the significant components of Current maturities of long-term debt on the Condensed Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.
(in millions) | Maturity Date |  | Interest Rate |  |  | September 30, 2020 |
Unsecured Debt |  |  |  |  |
Progress Energy, Inc | January 2021 |  | 4.400 | % |  | $ | 500 |
Duke Energy (Parent) | May 2021 |  | 0.765 | % | (a) | 500 |
Piedmont | June 2021 |  | 4.240 | % |  | 160 |
Duke Energy (Parent) | September 2021 |  | 3.550 | % |  | 500 |
Duke Energy (Parent) | September 2021 |  | 1.800 | % |  | 750 |
Secured Debt |  |  |  |  |
Duke Energy Florida | April 2021 |  | 1.035 | % | (a) | 250 |
First Mortgage Bonds |  |  |  |  |
Duke Energy Carolinas | June 2021 |  | 3.900 | % |  | 500 |
Duke Energy Florida | August 2021 |  | 3.100 | % |  | 300 |
Duke Energy Progress | September 2021 |  | 3.000 | % |  | 500 |
Duke Energy Progress | September 2021 |  | 8.625 | % |  | 100 |
Other(b) |  |  |  |  | 609 |
Current maturities of long-term debt |  |  |  |  | $ | 4,669 |
(a) Debt has a floating interest rate. (b) Includes finance lease obligations, amortizing debt and small bullet maturities. AVAILABLE CREDIT FACILITIES Master Credit Facility In March 2020, Duke Energy amended its existing $8 billion Master Credit Facility to extend the termination date to March 2025. The Duke Energy Registrants, excluding Progress Energy, have borrowing capacity under the Master Credit Facility up to a specified sublimit for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder. The table below includes the current borrowing sublimits and available capacity under these credit facilities.
| September 30, 2020
|  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | (Parent) |  |  | Carolinas |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Facility size(a) | $ | 8,000 |  |  | $ | 2,650 |  |  | $ | 1,475 |  |  | $ | 1,250 |  |  | $ | 800 |  |  | $ | 625 |  |  | $ | 600 |  |  | $ | 600 |
Reduction to backstop issuances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper(b) | (2,007 | ) |  | (693 | ) |  | (300 | ) |  | (308 | ) |  | (62 | ) |  | (106 | ) |  | (229 | ) |  | (309 | )
Outstanding letters of credit | (40 | ) |  | (34 | ) |  | (4 | ) |  | (2 | ) |  | — |  |  | — |  |  | — |  |  | — |
Tax-exempt bonds | (81 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (81 | ) |  | — |
Available capacity under the Master Credit Facility | $ | 5,872 |  |  | $ | 1,923 |  |  | $ | 1,171 |  |  | $ | 940 |  |  | $ | 738 |  |  | $ | 519 |  |  | $ | 290 |  |  | $ | 291 |
(a) | Represents the sublimit of each borrower.
(b) | Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies on the Condensed Consolidated Balance Sheets.
Term Loan Facility In response to market volatility and ongoing liquidity impacts from COVID-19, in March 2020, Duke Energy (Parent) entered into a $1.5 billion, 364-day Term Loan Credit Agreement, borrowing the full $1.5 billion available on March 19, 2020. The term loan contains a provision for increasing the amount available for borrowing by up to $500 million. Duke Energy (Parent) exercised this provision on March 27, 2020, borrowing an additional $188 million. Proceeds were used to reduce outstanding commercial paper and for general corporate purposes. In the third quarter of 2020, Duke Energy (Parent) repaid $844 million of the loan. Refer to Note 1 for additional information on the COVID-19 pandemic. Other Credit Facilities
| September 30, 2020
(in millions) | Facility size |  |  | Amount drawn |
Duke Energy (Parent) Three-Year Revolving Credit Facility | $ | 1,000 |  |  | $ | 500 |
In August 2020, Duke Energy Progress repaid its $700 million two-year term loan facility.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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