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v3.20.2

Revenue (Tables) | 9 Months Ended
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Sep. 30, 2020
Revenue from Contract with Customer [Abstract] |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations:
| Remaining Performance Obligations
(in millions) | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter |  | Total |
Progress Energy | $ | 30 |  | $ | 92 |  | $ | 94 |  | $ | 44 |  | $ | 45 |  | $ | 58 |  | $ | 363 |
Duke Energy Progress | 2 |  | 8 |  | 8 |  | 8 |  | 8 |  | — |  | 34 |
Duke Energy Florida | 28 |  | 84 |  | 86 |  | 36 |  | 37 |  | 58 |  | 329 |
Duke Energy Indiana | 2 |  | 5 |  | — |  | 7 |  | 12 |  | 36 |  | 62 |
Estimated remaining performance obligations are as follows:
| Remaining Performance Obligations
(in millions) | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter |  | Total |
Piedmont | $ | 17 |  | $ | 65 |  | $ | 64 |  | $ | 61 |  | $ | 58 |  | $ | 377 |  | $ | 642 |
Disaggregation of Revenue | Disaggregated revenues are presented as follows:
| Three Months Ended September 30, 2020
|  | Duke |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
(in millions) | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
By market or type of customer | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont |
Electric Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 2,936 |  | $ | 883 |  | $ | 1,550 |  | $ | 616 |  | $ | 934 |  | $ | 213 |  | $ | 289 |  | $ | — |
General | 1,804 |  | 664 |  | 805 |  | 384 |  | 421 |  | 119 |  | 212 |  | — |
Industrial | 797 |  | 342 |  | 245 |  | 179 |  | 66 |  | 35 |  | 175 |  | — |
Wholesale | 603 |  | 117 |  | 412 |  | 358 |  | 54 |  | 10 |  | 64 |  | — |
Other revenues | 238 |  | 62 |  | 167 |  | 75 |  | 92 |  | 23 |  | 22 |  | — |
Total Electric Utilities and Infrastructure revenue from contracts with customers | $ | 6,378 |  | $ | 2,068 |  | $ | 3,179 |  | $ | 1,612 |  | $ | 1,567 |  | $ | 400 |  | $ | 762 |  | $ | — |
Gas Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 112 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 55 |  | $ | — |  | $ | 57 |
Commercial | 64 |  | — |  | — |  | — |  | — |  | 20 |  | — |  | 44 |
Industrial | 24 |  | — |  | — |  | — |  | — |  | 3 |  | — |  | 22 |
Power Generation | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 10 |
Other revenues | 16 |  | — |  | — |  | — |  | — |  | 3 |  | — |  | 11 |
Total Gas Utilities and Infrastructure revenue from contracts with customers | $ | 216 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 81 |  | $ | — |  | $ | 144 |
Commercial Renewables |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 57 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Other |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 7 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Total revenue from contracts with customers | $ | 6,658 |  | $ | 2,068 |  | $ | 3,179 |  | $ | 1,612 |  | $ | 1,567 |  | $ | 481 |  | $ | 762 |  | $ | 144 |
Other revenue sources(a) | $ | 63 |  | $ | (10 | ) | $ | 18 |  | $ | 14 |  | $ | — |  | $ | (8 | ) | $ | (1 | ) | $ | 18 |
Total revenues | $ | 6,721 |  | $ | 2,058 |  | $ | 3,197 |  | $ | 1,626 |  | $ | 1,567 |  | $ | 473 |  | $ | 761 |  | $ | 162 |
(a) | Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
| Three Months Ended September 30, 2019
|  | Duke |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
(in millions) | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
By market or type of customer | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont |
Electric Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 2,923 |  | $ | 892 |  | $ | 1,522 |  | $ | 625 |  | $ | 897 |  | $ | 215 |  | $ | 294 |  | $ | — |
General | 1,885 |  | 687 |  | 843 |  | 399 |  | 444 |  | 127 |  | 225 |  | — |
Industrial | 869 |  | 372 |  | 255 |  | 189 |  | 66 |  | 40 |  | 204 |  | — |
Wholesale | 617 |  | 113 |  | 429 |  | 368 |  | 61 |  | 13 |  | 63 |  | — |
Other revenues | 198 |  | 76 |  | 118 |  | 70 |  | 48 |  | 18 |  | 22 |  | — |
Total Electric Utilities and Infrastructure revenue from contracts with customers | $ | 6,492 |  | $ | 2,140 |  | $ | 3,167 |  | $ | 1,651 |  | $ | 1,516 |  | $ | 413 |  | $ | 808 |  | $ | — |
Gas Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 113 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 53 |  | $ | — |  | $ | 59 |
Commercial | 68 |  | — |  | — |  | — |  | — |  | 21 |  | — |  | 47 |
Industrial | 26 |  | — |  | — |  | — |  | — |  | 4 |  | — |  | 25 |
Power Generation | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 13 |
Other revenues | 16 |  | — |  | — |  | — |  | — |  | 3 |  | — |  | 13 |
Total Gas Utilities and Infrastructure revenue from contracts with customers | $ | 223 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 81 |  | $ | — |  | $ | 157 |
Commercial Renewables |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 69 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Other |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 8 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Total revenue from contracts with customers | $ | 6,792 |  | $ | 2,140 |  | $ | 3,167 |  | $ | 1,651 |  | $ | 1,516 |  | $ | 494 |  | $ | 808 |  | $ | 157 |
Other revenue sources(a) | $ | 148 |  | $ | 22 |  | $ | 75 |  | $ | 37 |  | $ | 32 |  | $ | (5 | ) | $ | (1 | ) | $ | 11 |
Total revenues | $ | 6,940 |  | $ | 2,162 |  | $ | 3,242 |  | $ | 1,688 |  | $ | 1,548 |  | $ | 489 |  | $ | 807 |  | $ | 168 |
(a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
| Nine Months Ended September 30, 2020
|  | Duke |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
(in millions) | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
By market or type of customer | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont |
Electric Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 7,451 |  | $ | 2,316 |  | $ | 3,792 |  | $ | 1,578 |  | $ | 2,214 |  | $ | 558 |  | $ | 785 |  | $ | — |
General | 4,691 |  | 1,720 |  | 2,080 |  | 1,001 |  | 1,079 |  | 336 |  | 554 |  | — |
Industrial | 2,148 |  | 871 |  | 673 |  | 487 |  | 186 |  | 103 |  | 502 |  | — |
Wholesale | 1,535 |  | 332 |  | 1,018 |  | 877 |  | 141 |  | 22 |  | 163 |  | — |
Other revenues | 713 |  | 184 |  | 476 |  | 208 |  | 268 |  | 62 |  | 63 |  | — |
Total Electric Utilities and Infrastructure revenue from contracts with customers | $ | 16,538 |  | $ | 5,423 |  | $ | 8,039 |  | $ | 4,151 |  | $ | 3,888 |  | $ | 1,081 |  | $ | 2,067 |  | $ | — |
Gas Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 631 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 214 |  | $ | — |  | $ | 417 |
Commercial | 308 |  | — |  | — |  | — |  | — |  | 86 |  | — |  | 222 |
Industrial | 92 |  | — |  | — |  | — |  | — |  | 12 |  | — |  | 80 |
Power Generation | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 27 |
Other revenues | 58 |  | — |  | — |  | — |  | — |  | 12 |  | — |  | 46 |
Total Gas Utilities and Infrastructure revenue from contracts with customers | $ | 1,089 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 324 |  | $ | — |  | $ | 792 |
Commercial Renewables |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 170 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Other |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 20 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Total Revenue from contracts with customers | $ | 17,817 |  | $ | 5,423 |  | $ | 8,039 |  | $ | 4,151 |  | $ | 3,888 |  | $ | 1,405 |  | $ | 2,067 |  | $ | 792 |
Other revenue sources(a) | $ | 274 |  | $ | (7 | ) | $ | 78 |  | $ | 56 |  | $ | 9 |  | $ | (11 | ) | $ | 3 |  | $ | 79 |
Total revenues | $ | 18,091 |  | $ | 5,416 |  | $ | 8,117 |  | $ | 4,207 |  | $ | 3,897 |  | $ | 1,394 |  | $ | 2,070 |  | $ | 871 |
(a) | Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
| Nine Months Ended September 30, 2019
|  | Duke |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
(in millions) | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
By market or type of customer | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont |
Electric Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 7,597 |  | $ | 2,331 |  | $ | 3,879 |  | $ | 1,657 |  | $ | 2,222 |  | $ | 563 |  | $ | 825 |  | $ | — |
General | 4,896 |  | 1,714 |  | 2,225 |  | 1,044 |  | 1,181 |  | 335 |  | 619 |  | — |
Industrial | 2,339 |  | 927 |  | 708 |  | 514 |  | 194 |  | 109 |  | 595 |  | — |
Wholesale | 1,685 |  | 341 |  | 1,133 |  | 992 |  | 141 |  | 36 |  | 176 |  | — |
Other revenues | 557 |  | 222 |  | 389 |  | 239 |  | 150 |  | 59 |  | 66 |  | — |
Total Electric Utilities and Infrastructure revenue from contracts with customers | $ | 17,074 |  | $ | 5,535 |  | $ | 8,334 |  | $ | 4,446 |  | $ | 3,888 |  | $ | 1,102 |  | $ | 2,281 |  | $ | — |
Gas Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 673 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 229 |  | $ | — |  | $ | 443 |
Commercial | 359 |  | — |  | — |  | — |  | — |  | 96 |  | — |  | 263 |
Industrial | 103 |  | — |  | — |  | — |  | — |  | 14 |  | — |  | 91 |
Power Generation | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 39 |
Other revenues | 101 |  | — |  | — |  | — |  | — |  | 13 |  | — |  | 88 |
Total Gas Utilities and Infrastructure revenue from contracts with customers | $ | 1,236 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 352 |  | $ | — |  | $ | 924 |
Commercial Renewables |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 157 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Other |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 18 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Total Revenue from contracts with customers | $ | 18,485 |  | $ | 5,535 |  | $ | 8,334 |  | $ | 4,446 |  | $ | 3,888 |  | $ | 1,454 |  | $ | 2,281 |  | $ | 924 |
Other revenue sources(a) | $ | 491 |  | $ | 84 |  | $ | 224 |  | $ | 113 |  | $ | 99 |  | $ | (1 | ) | $ | 8 |  | $ | 32 |
Total revenues | $ | 18,976 |  | $ | 5,619 |  | $ | 8,558 |  | $ | 4,559 |  | $ | 3,987 |  | $ | 1,453 |  | $ | 2,289 |  | $ | 956 |
(a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
Reserve for Credit Losses for Trade and Other Receivables | As described in Note 1, Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. The following table presents the reserve for credit losses for trade and other receivables based on adoption of the new standard.
| Three Months Ended September 30, 2020
|  | Duke |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont |
Balance at June 30, 2020 | $ | 102 |  | $ | 14 |  | $ | 29 |  | $ | 14 |  | $ | 14 |  | $ | 5 |  | $ | 3 |  | $ | 6 |
Write-Offs | 12 |  | (2 | ) | 15 |  | 13 |  | 2 |  | — |  | — |  | — |
Credit Loss Expense | (9 | ) | — |  | (16 | ) | (15 | ) | — |  | — |  | — |  | 3 |
Other Adjustments | 28 |  | 10 |  | 9 |  | 9 |  | — |  | — |  | — |  | — |
Balance at September 30, 2020 | $ | 133 |  | $ | 22 |  | $ | 37 |  | $ | 21 |  | $ | 16 |  | $ | 5 |  | $ | 3 |  | $ | 9 |
| Nine Months Ended September 30, 2020
|  | 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, 2019 | $ | 76 |  | $ | 10 |  | $ | 16 |  | $ | 8 |  | $ | 7 |  | $ | 4 |  | $ | 3 |  | $ | 6 |
Cumulative Change in Accounting Principle | 5 |  | 1 |  | 2 |  | 1 |  | 1 |  | — |  | — |  | 1 |
Write-Offs | (7 | ) | (8 | ) | 8 |  | 8 |  | — |  | — |  | — |  | (5 | )
Credit Loss Expense | 24 |  | 9 |  | 2 |  | (5 | ) | 8 |  | 1 |  | — |  | 7 |
Other Adjustments | 35 |  | 10 |  | 9 |  | 9 |  | — |  | — |  | — |  | — |
Balance at September 30, 2020 | $ | 133 |  | $ | 22 |  | $ | 37 |  | $ | 21 |  | $ | 16 |  | $ | 5 |  | $ | 3 |  | $ | 9 |
Aging of Trade Receivables | These receivables for unbilled revenues are shown in the table below.
(in millions) | September 30, 2020 |  |  | December 31, 2019 |
Duke Energy Ohio | $ | 66 |  |  | $ | 82 |
Duke Energy Indiana | 106 |  |  | 115 |
The aging of trade receivables is presented in the table below. Duke Energy considers receivables greater than 30 days outstanding past due.
| September 30, 2020
|  | Duke |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont |
Unbilled Receivables | $ | 788 |  | $ | 284 |  | $ | 274 |  | $ | 139 |  | $ | 135 |  | $ | 1 |  | $ | 16 |  | $ | 5 |
0-30 days | 1,800 |  | 475 |  | 847 |  | 439 |  | 406 |  | 44 |  | 23 |  | 66 |
30-60 days | 227 |  | 86 |  | 84 |  | 48 |  | 36 |  | 7 |  | 2 |  | 8 |
60-90 days | 94 |  | 39 |  | 31 |  | 20 |  | 11 |  | 3 |  | 1 |  | 3 |
90+ days | 263 |  | 85 |  | 68 |  | 37 |  | 31 |  | 40 |  | 9 |  | 20 |
Trade and Other Receivables | $ | 3,172 |  | $ | 969 |  | $ | 1,304 |  | $ | 683 |  | $ | 619 |  | $ | 95 |  | $ | 51 |  | $ | 102 |
Unbilled revenues are included within Receivables and Receivables of VIEs on the Condensed Consolidated Balance Sheets as shown in the following table.
(in millions) | September 30, 2020 |  |  | December 31, 2019 |
Duke Energy | $ | 788 |  |  | $ | 843 |
Duke Energy Carolinas | 284 |  |  | 298 |
Progress Energy | 274 |  |  | 217 |
Duke Energy Progress | 139 |  |  | 122 |
Duke Energy Florida | 135 |  |  | 95 |
Duke Energy Ohio | 1 |  |  | 1 |
Duke Energy Indiana | 16 |  |  | 16 |
Piedmont | 5 |  |  | 78 |

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