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Debt and Credit Facilities | 6 Months Ended
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Jun. 30, 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).
|  |  |  |  | Six Months Ended June 30, 2022
|  |  |  |  |  |  | Duke |  | Duke |  | Duke |  |  |  |  |  |  |  |
| Maturity |  | Interest |  | Duke |  | Energy |  | Energy |  | Energy |  |  |  |  |  |  |  |
Issuance Date | Date |  | Rate |  | Energy |  | (Parent) |  | Carolinas |  | Progress |  |  |  |  |  |  |  | Piedmont
Unsecured Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
May 2022(a) | May 2052 |  | 5.050 | % |  | $ | 400 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  | $ | 400 |
June 2022(b) | June 2028 |  | 4.750 | % |  | 645 |  |  | 645 |  |  | — |  |  | — |  |  |  |  |  |  |  |  | — |
June 2022(b) | June 2034 |  | 5.306 | % |  | 537 |  |  | 537 |  |  | — |  |  | — |  |  |  |  |  |  |  |  | — |
First Mortgage Bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 2022(c) | March 2032 |  | 2.850 | % |  | 500 |  |  | — |  |  | 500 |  |  | — |  |  |  |  |  |  |  |  | — |
March 2022(c) | March 2052 |  | 3.550 | % |  | 650 |  |  | — |  |  | 650 |  |  | — |  |  |  |  |  |  |  |  | — |
March 2022(c) | April 2032 |  | 3.400 | % |  | 500 |  |  | — |  |  | — |  |  | 500 |  |  |  |  |  |  |  |  | — |
March 2022(c) | April 2052 |  | 4.000 | % |  | 400 |  |  | — |  |  | — |  |  | 400 |  |  |  |  |  |  |  |  | — |
Tax-exempt Bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 2022(d) | September 2030 |  | 4.000 | % |  | 168 |  |  | 168 |  |  | — |  |  | — |  |  |  |  |  |  |  |  | — |
June 2022(d) | November 2039 |  | 4.250 | % |  | 234 |  |  | 234 |  |  | — |  |  | — |  |  |  |  |  |  |  |  | — |
Total issuances |  |  |  |  | $ | 4,034 |  |  | $ | 1,584 |  |  | $ | 1,150 |  |  | $ | 900 |  |  |  |  |  |  |  |  | $ | 400 |
(a)Proceeds will be used to pay down a portion of outstanding intercompany short-term debt and for general corporate purposes (b)Duke Energy (Parent) issued 600 million euros aggregate principal amount of 3.10% senior notes due June 2028 and 500 million euros aggregate principal amount of 3.85% senior notes due June 2034. Proceeds will be used to repay a $500 million debt maturity, pay down short-term debt and for general corporate purposes. Duke Energy's obligations under its euro-denominated fixed-rate notes were effectively converted to fixed-rate U.S. dollars at issuance through cross-currency swaps, mitigating foreign currency exchange risk associated with the interest and principal payments. See Note 8 for additional information. (c)Proceeds will be used to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework. (d)Proceeds were used to refund the Ohio Air Quality Development Revenue Refunding bonds, previously held in treasury, which were used to finance or refinance portions of certain solid waste disposal facilities. The mandatory purchase date of these bonds is June 1, 2027. 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 |  | June 30, 2022
Unsecured Debt(a) |  |  |  |  |
Duke Energy (Parent) | August 2022 |  | 2.400 | % |  | 500
Duke Energy (Parent) | April 2023 |  | 2.875 | % |  | 350
Duke Energy (Parent)(b) | June 2023 |  | 1.938 | % |  | 500
First Mortgage Bonds |  |  |  |  |
Duke Energy Carolinas | March 2023 |  | 2.500 | % |  | 500 |
Duke Energy Carolinas | March 2023 |  | 3.050 | % |  | 500 |
Other(c) |  |  |  |  | 821 |
Current maturities of long-term debt |  |  |  |  | $ | 3,171 |
(a)In May 2022, Duke Energy (Parent) early retired $500 million of unsecured debt with an original maturity date of August 2022. (b)Debt has a floating interest rate. (c)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.
| June 30, 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 |  |  | $ | 3,150 |  |  | $ | 1,225 |  |  | $ | 1,200 |  |  | $ | 1,100 |  |  | $ | 775 |  |  | $ | 750 |  |  | $ | 800 |
Reduction to backstop issuances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper(b) | (3,516) |  |  | (1,853) |  |  | (326) |  |  | (150) |  |  | (458) |  |  | (299) |  |  | (400) |  |  | (30) |
Outstanding letters of credit | (38) |  |  | (25) |  |  | (4) |  |  | (2) |  |  | (7) |  |  | — |  |  | — |  |  | — |
Tax-exempt bonds | (81) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (81) |  |  | — |
Available capacity under the Master Credit Facility | $ | 5,365 |  |  | $ | 1,272 |  |  | $ | 895 |  |  | $ | 1,048 |  |  | $ | 635 |  |  | $ | 476 |  |  | $ | 269 |  |  | $ | 770 |
(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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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