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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2021
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, 2021, or 2020.
|  |  | December 31,
(in millions) | Location |  | 2021 |  | 2020
Duke Energy |  |  |  |  |
Accrued compensation | Current Liabilities |  | $ | 915 |  |  | $ | 662 |
Other accrued liabilities | Current Liabilities |  | 649 |  |  | 1,455 |
Duke Energy Carolinas |  |  |  |  |
Accrued compensation | Current Liabilities |  | $ | 277 |  |  | $ | 213 |
Duke Energy Progress |  |  |  |  |
Customer deposits | Current Liabilities |  | $ | 144 |  |  | $ | 144 |
Other accrued liabilities | Current Liabilities |  | 163 |  |  | 132 |
Duke Energy Florida |  |  |  |  |
Customer deposits | Current Liabilities |  | $ | 200 |  |  | $ | 203 |
Other accrued liabilities | Current Liabilities |  | 89 |  |  | 81 |
Duke Energy Ohio |  |  |  |  |
Gas Storage | Current Assets |  | $ | 25 |  |  | $ | 21 |
Collateral liabilities | Current Liabilities |  | 57 |  |  | 41 |
Noncontrolling Divestitures And Allocated Losses | The following table presents allocated losses to noncontrolling interest for the years ended December 31, 2021, 2020 and 2019.
| December 31,
(in millions) | 2021 |  | 2020 |  | 2019
Noncontrolling Interest Allocation of Income |  |  |  |  |
Allocated losses to noncontrolling tax equity members utilizing the HLBV method | $ | 298 |  |  | $ | 271 |  |  | $ | 165 |
Allocated losses to noncontrolling members based on pro rata shares of ownership | 31 |  |  | 24 |  |  | 12 |
Total Noncontrolling Interest Allocated Losses | $ | 329 |  |  | $ | 295 |  |  | $ | 177 |
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, 2021
|  |  | Duke |  |  |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy
| Energy |  | Carolinas |  | Energy |  | Progress |  | Florida
Current Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 343 |  |  | $ | 7 |  |  | $ | 70 |  |  | $ | 35 |  |  | $ | 23 |
Other | 170 |  |  | — |  |  | 39 |  |  | — |  |  | 39 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |
Other | 7 |  |  | 1 |  |  | 4 |  |  | 4 |  |  | — |
Total cash, cash equivalents and restricted cash | $ | 520 |  |  | $ | 8 |  |  | $ | 113 |  |  | $ | 39 |  |  | $ | 62 |
| December 31, 2020
|  |  | Duke |  |  |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy
| Energy |  | Carolinas |  | Energy |  | Progress |  | Florida
Current Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 259 |  |  | $ | 21 |  |  | $ | 59 |  |  | $ | 39 |  |  | $ | 11 |
Other | 194 |  |  | — |  |  | 39 |  |  | — |  |  | 39 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |
Other | 103 |  |  | — |  |  | 102 |  |  | — |  |  | — |
Total cash, cash equivalents and restricted cash | $ | 556 |  |  | $ | 21 |  |  | $ | 200 |  |  | $ | 39 |  |  | $ | 50 |
Components of Inventory | The components of inventory are presented in the tables below.
| December 31, 2021
|  |  | 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 | $ | 2,397 |  |  | $ | 793 |  |  | $ | 1,067 |  |  | $ | 729 |  |  | $ | 338 |  |  | $ | 80 |  |  | $ | 311 |  |  | $ | 14 |
Coal | 486 |  |  | 195 |  |  | 167 |  |  | 94 |  |  | 73 |  |  | 19 |  |  | 105 |  |  | — |
Natural gas, oil and other | 316 |  |  | 38 |  |  | 164 |  |  | 98 |  |  | 66 |  |  | 17 |  |  | 2 |  |  | 95 |
Total inventory | $ | 3,199 |  |  | $ | 1,026 |  |  | $ | 1,398 |  |  | $ | 921 |  |  | $ | 477 |  |  | $ | 116 |  |  | $ | 418 |  |  | $ | 109 |
| December 31, 2020
|  |  | 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 | $ | 2,312 |  |  | $ | 785 |  |  | $ | 999 |  |  | $ | 673 |  |  | $ | 325 |  |  | $ | 78 |  |  | $ | 307 |  |  | $ | 12 |
Coal | 561 |  |  | 186 |  |  | 193 |  |  | 131 |  |  | 63 |  |  | 16 |  |  | 165 |  |  | — |
Natural gas, oil and other | 294 |  |  | 39 |  |  | 183 |  |  | 107 |  |  | 76 |  |  | 16 |  |  | 1 |  |  | 56 |
Total inventory | $ | 3,167 |  |  | $ | 1,010 |  |  | $ | 1,375 |  |  | $ | 911 |  |  | $ | 464 |  |  | $ | 110 |  |  | $ | 473 |  |  | $ | 68 |
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,
| 2021 |  | 2020 |  | 2019
Duke Energy | 2.9 | % |  | 3.0 | % |  | 3.1 | %
Duke Energy Carolinas | 2.7 | % |  | 2.8 | % |  | 2.8 | %
Progress Energy | 3.1 | % |  | 3.2 | % |  | 3.1 | %
Duke Energy Progress | 3.0 | % |  | 3.1 | % |  | 3.1 | %
Duke Energy Florida | 3.3 | % |  | 3.3 | % |  | 3.1 | %
Duke Energy Ohio | 2.9 | % |  | 2.9 | % |  | 2.6 | %
Duke Energy Indiana | 3.6 | % |  | 3.5 | % |  | 3.3 | %
Piedmont | 2.1 | % |  | 2.3 | % |  | 2.4 | %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
| December 31, 2021
| 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 |  |  | $ | 2,162 |  |  | $ | 543 |  |  | $ | 957 |  |  | $ | 482 |  |  | $ | 475 |  |  | $ | 219 |  |  | $ | 122 |  |  | $ | 279 |
Plant – Regulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 40 |  | 120,855 |  |  | 44,910 |  |  | 53,447 |  |  | 32,417 |  |  | 21,030 |  |  | 6,573 |  |  | 15,925 |  |  | — |
Natural gas transmission and distribution | 54 |  | 12,079 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,347 |  |  | — |  |  | 8,732 |
Other buildings and improvements | 37 |  | 1,921 |  |  | 550 |  |  | 514 |  |  | 228 |  |  | 286 |  |  | 381 |  |  | 321 |  |  | 155 |
Plant – Nonregulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 28 |  | 7,104 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other buildings and improvements | 11 |  | 401 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Nuclear fuel |  |  | 3,181 |  |  | 1,856 |  |  | 1,325 |  |  | 1,325 |  |  | — |  |  | — |  |  | — |  |  | — |
Equipment | 13 |  | 2,659 |  |  | 614 |  |  | 791 |  |  | 497 |  |  | 294 |  |  | 403 |  |  | 262 |  |  | 122 |
Construction in process |  |  | 6,168 |  |  | 2,078 |  |  | 2,297 |  |  | 954 |  |  | 1,343 |  |  | 515 |  |  | 460 |  |  | 262 |
Other | 14 |  | 5,289 |  |  | 1,323 |  |  | 1,563 |  |  | 1,115 |  |  | 437 |  |  | 287 |  |  | 253 |  |  | 368 |
Total property, plant and equipment(a)(e) |  |  | 161,819 |  |  | 51,874 |  |  | 60,894 |  |  | 37,018 |  |  | 23,865 |  |  | 11,725 |  |  | 17,343 |  |  | 9,918 |
Total accumulated depreciation – regulated(b)(c) |  |  | (47,611) |  |  | (17,854) |  |  | (19,214) |  |  | (13,387) |  |  | (5,819) |  |  | (3,106) |  |  | (5,583) |  |  | (1,899) |
Total accumulated depreciation – nonregulated(d)(e) |  |  | (2,944) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Facilities to be retired, net |  |  | 144 |  |  | 102 |  |  | 26 |  |  | 26 |  |  | — |  |  | 6 |  |  | — |  |  | 11 |
Total net property, plant and equipment |  |  | $ | 111,408 |  |  | $ | 34,122 |  |  | $ | 41,706 |  |  | $ | 23,657 |  |  | $ | 18,046 |  |  | $ | 8,625 |  |  | $ | 11,760 |  |  | $ | 8,030 |
(a) Includes finance leases of $958 million, $335 million, $729 million, $627 million, $102 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 $178 million, $45 million and $133 million, respectively, of accumulated amortization of finance leases. (b) Includes $1,799 million, $1,064 million, $735 million and $735 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 $9 million, $33 million and $3 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively. (d) Includes accumulated amortization of finance leases of ($1 million) at Duke Energy. (e) Includes gross property, plant and equipment cost of consolidated VIEs of $7,339 million and accumulated depreciation of consolidated VIEs of $1,474 million at Duke Energy.
| 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) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
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.
Schedule of Accounts Payable and Supplier Invoices Sold | The following table presents the outstanding accounts payable balance sold to the financial institution by our suppliers and the supplier invoices sold to the financial institution under the program included within Net cash provided by operating activities on the Consolidated Statements of Cash Flows as of December 31, 2021, and December 31, 2020.
| December 31, 2021 |  | December 30, 2020
|  |  | Duke | Duke |  |  |  |  | Duke |
| Duke | Progress | Energy | Energy |  |  | Duke |  | Energy |
(in millions) | Energy | Energy | Florida | Ohio | Piedmont |  | Energy |  | Ohio | Piedmont
Outstanding Accounts Payable Balance Sold | $ | 19 |  | $ | 9 |  | $ | 9 |  | $ | 6 |  | $ | 4 |  |  | $ | 15 |  |  | $ | 1 |  | $ | 14 |
Suppliers Invoices Settled Through The Program | 122 |  | 10 |  | 10 |  | 12 |  | 100 |  |  | 45 |  |  | 9 |  | 36 |
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) | 2021 |  | 2020 |  | 2019
Duke Energy | $ | 420 |  |  | $ | 415 |  |  | $ | 421 |
Duke Energy Carolinas | 44 |  |  | 43 |  |  | 39 |
Progress Energy | 250 |  |  | 249 |  |  | 256 |
Duke Energy Progress | 22 |  |  | 26 |  |  | 21 |
Duke Energy Florida | 228 |  |  | 223 |  |  | 235 |
Duke Energy Ohio | 102 |  |  | 96 |  |  | 101 |
Duke Energy Indiana | 23 |  |  | 25 |  |  | 23 |
Piedmont | 1 |  |  | 2 |  |  | 2 |
Summary of Effects of New Accounting Pronouncements | Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below:
| January 1, 2020
|  |  | 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 |

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