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v3.22.1

Debt and Credit Facilities | 3 Months Ended
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Mar. 31, 2022
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).
|  |  |  |  | Three Months Ended March 31, 2022
|  |  |  |  |  |  |  |  | Duke |  | Duke |  |  |  |  |  |  |  |
| Maturity |  | Interest |  | Duke |  |  |  | Energy |  | Energy |  |  |  |  |  |  |  |
Issuance Date | Date |  | Rate |  | Energy |  |  |  | Carolinas |  | Progress |  |  |  |  |  |  |  |
First Mortgage Bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 2022(a) | March 2032 |  | 2.850 | % |  | $ | 500 |  |  |  |  | $ | 500 |  |  | $ | — |  |  |  |  |  |  |  |  |
March 2022(a) | March 2052 |  | 3.550 | % |  | 650 |  |  |  |  | 650 |  |  | — |  |  |  |  |  |  |  |  |
March 2022(a) | April 2032 |  | 3.400 | % |  | 500 |  |  |  |  | — |  |  | 500 |  |  |  |  |  |  |  |  |
March 2022(a) | April 2052 |  | 4.000 | % |  | 400 |  |  |  |  | — |  |  | 400 |  |  |  |  |  |  |  |  |
Total issuances |  |  |  |  | $ | 2,050 |  |  |  |  | $ | 1,150 |  |  | $ | 900 |  |  |  |  |  |  |  |  |
(a)Proceeds will be used to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework. 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 |  | March 31, 2022
Unsecured Debt |  |  |  |  |
Progress Energy | April 2022 |  | 3.150 | % |  | $ | 450 |
Duke Energy (Parent) | August 2022 |  | 3.050 | % |  | 500 |
Duke Energy (Parent) | August 2022 |  | 2.400 | % |  | 500 |
First Mortgage Bonds |  |  |  |  |
Duke Energy Carolinas | May 2022 |  | 3.350 | % |  | 350 |
Duke Energy Progress | May 2022 |  | 2.800 | % |  | 500 |
Duke Energy Carolinas | March 2023 |  | 2.500 | % |  | 500 |
Duke Energy Carolinas | March 2023 |  | 3.050 | % |  | 500 |
Other(a) |  |  |  |  | 584 |
Current maturities of long-term debt |  |  |  |  | $ | 3,884 |
(a)Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities. AVAILABLE CREDIT FACILITIES Master Credit Facility In March 2022, Duke Energy amended its existing Master Credit Facility to increase the amount of the facility from $8 billion to $9 billion and to extend the termination date to March 2027. 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.
| March 31, 2022
|  |  | 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) | $ | 9,000 |  |  | $ | 3,300 |  |  | $ | 1,225 |  |  | $ | 1,400 |  |  | $ | 900 |  |  | $ | 775 |  |  | $ | 600 |  |  | $ | 800 |
Reduction to backstop issuances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper(b) | (2,819) |  |  | (1,715) |  |  | (300) |  |  | (150) |  |  | (236) |  |  | (86) |  |  | (150) |  |  | (182) |
Outstanding letters of credit | (38) |  |  | (25) |  |  | (4) |  |  | (2) |  |  | (7) |  |  | — |  |  | — |  |  | — |
Tax-exempt bonds | (81) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (81) |  |  | — |
Available capacity under the Master Credit Facility | $ | 6,062 |  |  | $ | 1,560 |  |  | $ | 921 |  |  | $ | 1,248 |  |  | $ | 657 |  |  | $ | 689 |  |  | $ | 369 |  |  | $ | 618 |
(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. Other Credit Facilities Duke Energy (Parent) Term Loan Facility On March 9, 2022, Duke Energy (Parent) entered into a Term Loan Credit Agreement (Credit Agreement) with commitments totaling $1.4 billion maturing March 9, 2024. The maturity date of the Credit Agreement may be extended for up to two years by request of Duke Energy (Parent), upon satisfaction of certain conditions contained in the Credit Agreement. Borrowings under the facility were used to repay amounts drawn under the Three-Year Revolving Credit Facility and for general corporate purposes, including repayment of a portion of Duke Energy's outstanding commercial paper. The balance is classified as Long-Term Debt on Duke Energy's Condensed Consolidated Balance Sheets. The Three-Year Revolving Credit Facility was terminated in March 2022. Intercompany Credit Agreements In March 2022, Progress Energy closed a revolving credit agreement with Duke Energy (Parent), which allowed up to $2.5 billion in intercompany borrowings.

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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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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