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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2020
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
| December 31, 2020
| Average |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Remaining |  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Useful Life |  | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | (Years) |  | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Land |  |  | $ | 2,046 |  |  | $ | 536 |  |  | $ | 908 |  |  | $ | 463 |  |  | $ | 445 |  |  | $ | 171 |  |  | $ | 118 |  |  | $ | 279 |
Plant – Regulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 39 |  | 117,107 |  |  | 44,059 |  |  | 50,785 |  |  | 31,375 |  |  | 19,410 |  |  | 6,255 |  |  | 16,008 |  |  | — |
Natural gas transmission and distribution | 54 |  | 10,799 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,136 |  |  | — |  |  | 7,663 |
Other buildings and improvements | 36 |  | 2,038 |  |  | 740 |  |  | 459 |  |  | 197 |  |  | 262 |  |  | 374 |  |  | 300 |  |  | 165 |
Plant – Nonregulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 27 |  | 5,444 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other buildings and improvements | 10 |  | 519 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Nuclear fuel |  |  | 3,284 |  |  | 1,837 |  |  | 1,447 |  |  | 1,447 |  |  | — |  |  | — |  |  | — |  |  | — |
Equipment | 15 |  | 2,608 |  |  | 620 |  |  | 759 |  |  | 498 |  |  | 261 |  |  | 385 |  |  | 238 |  |  | 122 |
Construction in process |  |  | 6,645 |  |  | 1,645 |  |  | 2,013 |  |  | 709 |  |  | 1,304 |  |  | 407 |  |  | 409 |  |  | 581 |
Other | 14 |  | 5,090 |  |  | 1,203 |  |  | 1,521 |  |  | 1,070 |  |  | 441 |  |  | 294 |  |  | 309 |  |  | 324 |
Total property, plant and equipment(a)(e) |  |  | 155,580 |  |  | 50,640 |  |  | 57,892 |  |  | 35,759 |  |  | 22,123 |  |  | 11,022 |  |  | 17,382 |  |  | 9,134 |
Total accumulated depreciation – regulated(b)(c) |  |  | (46,216) |  |  | (17,453) |  |  | (18,368) |  |  | (12,801) |  |  | (5,560) |  |  | (3,013) |  |  | (5,661) |  |  | (1,749) |
Total accumulated depreciation – nonregulated(d)(e) |  |  | (2,611) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Generation facilities to be retired, net |  |  | 29 |  |  | — |  |  | 29 |  |  | 29 |  |  | — |  |  | — |  |  | — |  |  | — |
Total net property, plant and equipment |  |  | $ | 106,782 |  |  | $ | 33,187 |  |  | $ | 39,553 |  |  | $ | 22,987 |  |  | $ | 16,563 |  |  | $ | 8,009 |  |  | $ | 11,721 |  |  | $ | 7,385 |
(a) Includes finance leases of $832 million, $335 million, $416 million, $297 million, $119 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 $141 million, $24 million and $117 million, respectively, of accumulated amortization of finance leases. (b) Includes $1,832 million, $1,010 million, $822 million and $822 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 $12 million, $23 million and $3 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively. (d) Includes accumulated amortization of finance leases of $23 million at Duke Energy. (e) Includes gross property, plant and equipment cost of consolidated VIEs of $6,394 million and accumulated depreciation of consolidated VIEs of $1,242 million at Duke Energy. In 2020, Duke Energy evaluated recoverability of its renewable merchant plants principally located in the Electric Reliability Council of Texas West market and in the PJM West market due to declining market pricing and declining long-term forecasted energy prices, primarily driven by lower forecasted natural gas prices. Duke Energy determined that the assets were not impaired because the carrying value of $210 million approximates the aggregate estimated future undiscounted cash flows. A continued decline in energy market pricing would likely result in a future impairment. Duke Energy retained 51% ownership interest in these facilities following the 2019 transaction to sell a minority interest in certain renewable assets. See Note 1 for further information.
| December 31, 2019
| Average |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Remaining |  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Useful 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 | 39 |  | 111,739 |  |  | 42,723 |  |  | 48,142 |  |  | 30,018 |  |  | 18,124 |  |  | 5,838 |  |  | 15,032 |  |  | — |
Natural gas transmission and distribution | 54 |  | 9,839 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,892 |  |  | — |  |  | 6,947 |
Other buildings and improvements | 32 |  | 1,810 |  |  | 714 |  |  | 401 |  |  | 162 |  |  | 239 |  |  | 269 |  |  | 278 |  |  | 148 |
Plant – Nonregulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 28 |  | 5,103 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other buildings and improvements | 9 |  | 488 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Nuclear fuel |  |  | 3,253 |  |  | 1,891 |  |  | 1,362 |  |  | 1,362 |  |  | — |  |  | — |  |  | — |  |  | — |
Equipment | 13 |  | 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 | 13 |  | 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. The following tables present capitalized interest, which includes the debt component of AFUDC.
| Years Ended December 31,
(in millions) | 2020 |  | 2019 |  | 2018
Duke Energy | $ | 112 |  |  | $ | 159 |  |  | $ | 161 |
Duke Energy Carolinas | 28 |  |  | 30 |  |  | 35 |
Progress Energy | 17 |  |  | 31 |  |  | 51 |
Duke Energy Progress | 12 |  |  | 28 |  |  | 26 |
Duke Energy Florida | 5 |  |  | 3 |  |  | 25 |
Duke Energy Ohio | 26 |  |  | 22 |  |  | 17 |
Duke Energy Indiana | 10 |  |  | 26 |  |  | 27 |
Piedmont | 8 |  |  | 26 |  |  | 17 |

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