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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2021
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, 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. Duke Energy continues to execute on its business transformation strategy, including the evaluation of in-office work policies considering the experience with the COVID-19 pandemic and also workforce realignment of roles and responsibilities. In May 2021, Duke Energy management approved the sale of certain properties and entered into an agreement to exit certain leased space on December 31, 2021. The sale of the properties is subject to abandonment accounting and resulted in an impairment charge. Additionally, the exit of the leased space resulted in the impairment of related furniture, fixtures and equipment. During the 12 months ended December 31, 2021, Duke Energy recorded a pretax charge to earnings of $192 million on the Consolidated Statements of Operations, which includes $133 million within Impairment of assets and other charges, $42 million within Operations, maintenance and other and $17 million within Depreciation and amortization. In 2021, Duke Energy continued to monitor recoverability of its renewable merchant plants located in the Electric Reliability Council of Texas West market and in the PJM West market due to fluctuating market pricing and long-term forecasted energy prices. The assets were not impaired as of December 31, 2021, because the carrying value of approximately $200 million continues to approximate the aggregate estimated future undiscounted cash flows. A continued decline in energy market pricing or other factors unfavorably impacting the economics 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, 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. The following table presents capitalized interest, which includes the debt component of AFUDC.
| Years Ended December 31,
(in millions) | 2021 |  | 2020 |  | 2019
Duke Energy | $ | 72 |  |  | $ | 112 |  |  | $ | 159 |
Duke Energy Carolinas | 29 |  |  | 28 |  |  | 30 |
Progress Energy | 20 |  |  | 17 |  |  | 31 |
Duke Energy Progress | 14 |  |  | 12 |  |  | 28 |
Duke Energy Florida | 6 |  |  | 5 |  |  | 3 |
Duke Energy Ohio | 20 |  |  | 26 |  |  | 22 |
Duke Energy Indiana(a) | (17) |  |  | 10 |  |  | 26 |
Piedmont | 9 |  |  | 8 |  |  | 26 |
(a) Duke Energy Indiana is primarily compromised of ($24 million) of PISCC amortization, which is partially offset by $7 million of the debt component of AFUDC.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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