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Derivatives and Hedging (Tables) | 6 Months Ended
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Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional Amounts of Outstanding Derivative Positions | The following table shows notional amounts of outstanding derivatives related to interest rate risk.
| June 30, 2022
|  |  | Duke |  |  |  |  |  | Duke |  | Duke
| Duke |  | Energy |  |  |  |  |  | Energy |  | Energy
(in millions) | Energy |  | Carolinas |  |  |  |  |  | Indiana |  | Ohio
Cash flow hedges | $ | 2,877 |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | — |
Undesignated contracts | 577 |  |  | 250 |  |  |  |  |  |  | 300 |  |  | 27 |
Total notional amount(a) | $ | 3,454 |  |  | $ | 250 |  |  |  |  |  |  | $ | 300 |  |  | $ | 27 |
| December 31, 2021
|  |  | Duke |  |  |  | Duke |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Indiana |  | Ohio
Cash flow hedges | $ | 2,415 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Undesignated contracts | 1,177 |  |  | 350 |  |  | 500 |  |  | 500 |  |  | 300 |  |  | 27 |
Total notional amount(a) | $ | 3,592 |  |  | $ | 350 |  |  | $ | 500 |  |  | $ | 500 |  |  | $ | 300 |  |  | $ | 27 |
(a)Duke Energy includes amounts related to consolidated VIEs of $627 million and $665 million in cash flow hedges as of June 30, 2022, and December 31, 2021, respectively. The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.
| June 30, 2022
|  |  | Duke |  |  |  | Duke |  |  |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  |  |  | Energy |  | Energy |  |
| Energy |  | Carolinas |  | Energy |  | Progress |  |  |  | Ohio |  | Indiana |  | Piedmont
Electricity (GWh)(a) | 39,032 |  |  | — |  |  | — |  |  | — |  |  |  |  | 4,002 |  |  | 24,241 |  |  | — |
Natural gas (millions of dekatherms) | 873 |  |  | 283 |  |  | 259 |  |  | 259 |  |  |  |  | — |  |  | 13 |  |  | 318 |
| December 31, 2021
|  |  | Duke |  |  |  | Duke |  |  |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  |  |  | Energy |  | Energy |  |
| Energy |  | Carolinas |  | Energy |  | Progress |  |  |  | Ohio |  | Indiana |  | Piedmont
Electricity (GWh)(a) | 22,344 |  |  | — |  |  | — |  |  | — |  |  |  |  | 1,681 |  |  | 10,688 |  |  | — |
Natural gas (millions of dekatherms) | 823 |  |  | 264 |  |  | 215 |  |  | 215 |  |  |  |  | — |  |  | 8 |  |  | 336 |
(a)Duke Energy includes 4,477 GWh and 9,975 GWh related to cash flow hedges as of June 30, 2022, and December 31, 2021, respectively. The following table shows Duke Energy's outstanding derivatives related to foreign currency risk. There were no fair value hedges in 2021.
| June 30, 2022
|  |  |  |  | Receive |  |  |  |  |  |  |  | Fair Value
| Pay Notional |  |  |  | Notional |  | Receive |  |  |  | Hedge |  | Gain (Loss)(a)
| (in millions) |  | Pay Rate |  | (in millions) |  | Rate |  |  |  | Maturity Date |  | (in millions)
Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
| $ | 645 |  |  | 4.75 | % |  | 600 |  | euros |  | 3.10 | % |  |  |  | June 2028 |  | $ | (16) |
| 537 |  |  | 5.31 | % |  | 500 |  | euros |  | 3.85 | % |  |  |  | June 2034 |  | (13) |
Total notional amount | $ | 1,182 |  |  |  |  | 1,100 |  | euros |  |  |  |  |  |  |  | $ | (29) |
(a) Amounts are recorded in Other Income and expenses, net on the Condensed Consolidated Statement of Operations, which offsets an equal translation adjustment of the foreign denominated debt. See the Condensed Consolidated Statements of Comprehensive Income for amounts excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded
Location And Fair Value Of Derivatives Recognized in the Condensed Consolidated Balance Sheets | The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Condensed Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.
Derivative Assets |  | June 30, 2022
|  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
|  | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) |  | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Commodity Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 571 |  |  | $ | 268 |  |  | $ | 203 |  |  | $ | 203 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 86 |  |  | $ | — |
Noncurrent |  | 350 |  |  | 186 |  |  | 165 |  |  | 165 |  |  | — |  |  | — |  |  | — |  |  | — |
Total Derivative Assets – Commodity Contracts |  | $ | 921 |  |  | $ | 454 |  |  | $ | 368 |  |  | $ | 368 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 86 |  |  | $ | — |
Interest Rate Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 242 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 88 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 55 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 55 |  |  | — |
Noncurrent |  | 30 |  |  | 30 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Derivative Assets – Interest Rate Contracts |  | $ | 415 |  |  | $ | 30 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 55 |  |  | $ | — |
Total Derivative Assets |  | $ | 1,336 |  |  | $ | 484 |  |  | $ | 368 |  |  | $ | 368 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 141 |  |  | $ | — |
Derivative Liabilities |  | June 30, 2022
|  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
|  | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) |  | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Commodity Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 35 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | — |
Noncurrent |  | 114 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 135 |  |  | 32 |  |  | 33 |  |  | 1 |  |  | 33 |  |  | — |  |  | 21 |  |  | 25 |
Noncurrent |  | 259 |  |  | 9 |  |  | 10 |  |  | 10 |  |  | — |  |  | — |  |  | — |  |  | 168 |
Total Derivative Liabilities – Commodity Contracts |  | $ | 543 |  |  | $ | 41 |  |  | $ | 43 |  |  | $ | 11 |  |  | $ | 33 |  |  | $ | — |  |  | $ | 21 |  |  | $ | 193 |
Interest Rate Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Noncurrent |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |
Total Derivative Liabilities – Interest Rate Contracts |  | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |
Foreign Currency Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 18 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 26 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Derivative Liabilities – Foreign Currency Contracts |  | $ | 44 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total Derivative Liabilities |  | $ | 593 |  |  | $ | 41 |  |  | $ | 43 |  |  | $ | 11 |  |  | $ | 33 |  |  | $ | 3 |  |  | $ | 21 |  |  | $ | 193 |
Derivative Assets |  | 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
Commodity Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 199 |  |  | $ | 99 |  |  | $ | 72 |  |  | $ | 72 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 23 |  |  | $ | 3 |
Noncurrent |  | 113 |  |  | 63 |  |  | 50 |  |  | 50 |  |  | — |  |  | — |  |  | — |  |  | — |
Total Derivative Assets – Commodity Contracts |  | $ | 312 |  |  | $ | 162 |  |  | $ | 122 |  |  | $ | 122 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 23 |  |  | $ | 3 |
Interest Rate Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 2 |  |  | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |
Total Derivative Assets – Interest Rate Contracts |  | $ | 8 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total Derivative Assets |  | $ | 320 |  |  | $ | 162 |  |  | $ | 124 |  |  | $ | 124 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 23 |  |  | $ | 3 |
Derivative Liabilities |  | 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
Commodity Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 27 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 117 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 72 |  |  | 18 |  |  | 19 |  |  | 5 |  |  | 14 |  |  | — |  |  | 13 |  |  | 21 |
Noncurrent |  | 132 |  |  | 9 |  |  | 5 |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 118 |
Total Derivative Liabilities – Commodity Contracts |  | $ | 348 |  |  | $ | 27 |  |  | $ | 24 |  |  | $ | 10 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 13 |  |  | $ | 139 |
Interest Rate Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 75 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 21 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 10 |  |  | 8 |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Noncurrent |  | 18 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 14 |  |  | — |
Total Derivative Liabilities – Interest Rate Contracts |  | $ | 124 |  |  | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | 14 |  |  | $ | — |
Total Derivative Liabilities |  | $ | 472 |  |  | $ | 35 |  |  | $ | 24 |  |  | $ | 10 |  |  | $ | 14 |  |  | $ | 5 |  |  | $ | 27 |  |  | $ | 139 |
Offsetting Assets | The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include cash collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable and letters of credit may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.
Derivative Assets |  | June 30, 2022
|  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
|  | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) |  | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 868 |  |  | $ | 268 |  |  | $ | 203 |  |  | $ | 203 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 141 |  |  | $ | — |
Gross amounts offset |  | (331) |  |  | (193) |  |  | (137) |  |  | (137) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Current Assets: Other |  | $ | 537 |  |  | $ | 75 |  |  | $ | 66 |  |  | $ | 66 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 141 |  |  | $ | — |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 468 |  |  | $ | 216 |  |  | $ | 165 |  |  | $ | 165 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Gross amounts offset |  | (242) |  |  | (125) |  |  | (117) |  |  | (117) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Assets: Other |  | $ | 226 |  |  | $ | 91 |  |  | $ | 48 |  |  | $ | 48 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Derivative Liabilities |  | June 30, 2022
|  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
|  | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) |  | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 190 |  |  | $ | 32 |  |  | $ | 33 |  |  | $ | 1 |  |  | $ | 33 |  |  | $ | 1 |  |  | $ | 21 |  |  | $ | 25 |
Gross amounts offset |  | (19) |  |  | (1) |  |  | (1) |  |  | (1) |  |  | — |  |  | — |  |  | (17) |  |  | — |
Net amounts presented in Current Liabilities: Other |  | $ | 171 |  |  | $ | 31 |  |  | $ | 32 |  |  | $ | — |  |  | $ | 33 |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | 25 |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 403 |  |  | $ | 9 |  |  | $ | 10 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 168 |
Gross amounts offset |  | (19) |  |  | (9) |  |  | (10) |  |  | (10) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Liabilities: Other |  | $ | 384 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 168 |
Derivative Assets |  | 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
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 204 |  |  | $ | 99 |  |  | $ | 74 |  |  | $ | 74 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 23 |  |  | $ | 3 |
Gross amounts offset |  | (25) |  |  | (16) |  |  | (9) |  |  | (9) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Current Assets: Other |  | $ | 179 |  |  | $ | 83 |  |  | $ | 65 |  |  | $ | 65 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 23 |  |  | $ | 3 |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 116 |  |  | $ | 63 |  |  | $ | 50 |  |  | $ | 50 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Gross amounts offset |  | (23) |  |  | (15) |  |  | (8) |  |  | (8) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Assets: Other |  | $ | 93 |  |  | $ | 48 |  |  | $ | 42 |  |  | $ | 42 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Derivative Liabilities |  | 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
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 184 |  |  | $ | 26 |  |  | $ | 19 |  |  | $ | 5 |  |  | $ | 14 |  |  | $ | 1 |  |  | $ | 13 |  |  | $ | 21 |
Gross amounts offset |  | (11) |  |  | (6) |  |  | (5) |  |  | (5) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Current Liabilities: Other |  | $ | 173 |  |  | $ | 20 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 14 |  |  | $ | 1 |  |  | $ | 13 |  |  | $ | 21 |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 288 |  |  | $ | 9 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 14 |  |  | $ | 118 |
Gross amounts offset |  | (12) |  |  | (8) |  |  | (5) |  |  | (5) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Liabilities: Other |  | $ | 276 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | 14 |  |  | $ | 118 |
Offsetting Liabilities | The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include cash collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable and letters of credit may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.
Derivative Assets |  | June 30, 2022
|  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
|  | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) |  | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 868 |  |  | $ | 268 |  |  | $ | 203 |  |  | $ | 203 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 141 |  |  | $ | — |
Gross amounts offset |  | (331) |  |  | (193) |  |  | (137) |  |  | (137) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Current Assets: Other |  | $ | 537 |  |  | $ | 75 |  |  | $ | 66 |  |  | $ | 66 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 141 |  |  | $ | — |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 468 |  |  | $ | 216 |  |  | $ | 165 |  |  | $ | 165 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Gross amounts offset |  | (242) |  |  | (125) |  |  | (117) |  |  | (117) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Assets: Other |  | $ | 226 |  |  | $ | 91 |  |  | $ | 48 |  |  | $ | 48 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Derivative Liabilities |  | June 30, 2022
|  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
|  | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) |  | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 190 |  |  | $ | 32 |  |  | $ | 33 |  |  | $ | 1 |  |  | $ | 33 |  |  | $ | 1 |  |  | $ | 21 |  |  | $ | 25 |
Gross amounts offset |  | (19) |  |  | (1) |  |  | (1) |  |  | (1) |  |  | — |  |  | — |  |  | (17) |  |  | — |
Net amounts presented in Current Liabilities: Other |  | $ | 171 |  |  | $ | 31 |  |  | $ | 32 |  |  | $ | — |  |  | $ | 33 |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | 25 |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 403 |  |  | $ | 9 |  |  | $ | 10 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 168 |
Gross amounts offset |  | (19) |  |  | (9) |  |  | (10) |  |  | (10) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Liabilities: Other |  | $ | 384 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 168 |
Derivative Assets |  | 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
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 204 |  |  | $ | 99 |  |  | $ | 74 |  |  | $ | 74 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 23 |  |  | $ | 3 |
Gross amounts offset |  | (25) |  |  | (16) |  |  | (9) |  |  | (9) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Current Assets: Other |  | $ | 179 |  |  | $ | 83 |  |  | $ | 65 |  |  | $ | 65 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 23 |  |  | $ | 3 |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 116 |  |  | $ | 63 |  |  | $ | 50 |  |  | $ | 50 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Gross amounts offset |  | (23) |  |  | (15) |  |  | (8) |  |  | (8) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Assets: Other |  | $ | 93 |  |  | $ | 48 |  |  | $ | 42 |  |  | $ | 42 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Derivative Liabilities |  | 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
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 184 |  |  | $ | 26 |  |  | $ | 19 |  |  | $ | 5 |  |  | $ | 14 |  |  | $ | 1 |  |  | $ | 13 |  |  | $ | 21 |
Gross amounts offset |  | (11) |  |  | (6) |  |  | (5) |  |  | (5) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Current Liabilities: Other |  | $ | 173 |  |  | $ | 20 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 14 |  |  | $ | 1 |  |  | $ | 13 |  |  | $ | 21 |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 288 |  |  | $ | 9 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 14 |  |  | $ | 118 |
Gross amounts offset |  | (12) |  |  | (8) |  |  | (5) |  |  | (5) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Liabilities: Other |  | $ | 276 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | 14 |  |  | $ | 118 |

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