XML 95 R39.htm IDEA: XBRL DOCUMENT
v3.22.4

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
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, 2022, or 2021.
|  |  | December 31,
(in millions) | Location |  | 2022 |  | 2021
Duke Energy |  |  |  |  |
Accrued compensation | Current Liabilities |  | $ | 778 |  |  | $ | 915 |
Duke Energy Carolinas |  |  |  |  |
Accrued compensation | Current Liabilities |  | $ | 247 |  |  | $ | 277 |
Duke Energy Progress |  |  |  |  |
Customer deposits | Current Liabilities |  | $ | 106 |  |  | $ | 144 |
Other accrued liabilities | Current Liabilities |  | 124 |  |  | 163 |
Duke Energy Florida |  |  |  |  |
Customer deposits | Current Liabilities |  | $ | 200 |  |  | $ | 200 |
Other accrued liabilities | Current Liabilities |  | 61 |  |  | 89 |
Duke Energy Ohio |  |  |  |  |
Gas Storage | Current Assets |  | $ | 57 |  |  | $ | 25 |
Collateral liabilities | Current Liabilities |  | 53 |  |  | 57 |
Duke Energy Indiana |  |  |  |  |
Mark-to-market transactions | Current Assets |  | $ | 110 |  |  | $ | 23 |
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, 2022
|  |  | Duke |  |  |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy
| Energy |  | Carolinas |  | Energy |  | Progress |  | Florida
Current Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 409 |  |  | $ | 44 |  |  | $ | 108 |  |  | $ | 49 |  |  | $ | 45 |
Other | 173 |  |  | 8 |  |  | 74 |  |  | 28 |  |  | 41 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |
Other | 11 |  |  | 1 |  |  | 2 |  |  | 2 |  |  | — |
Total cash, cash equivalents and restricted cash | $ | 593 |  |  | $ | 53 |  |  | $ | 184 |  |  | $ | 79 |  |  | $ | 86 |
| December 31, 2021
|  |  | Duke |  |  |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy
| Energy |  | Carolinas |  | Energy |  | Progress |  | Florida
Current Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 341 |  |  | $ | 7 |  |  | $ | 70 |  |  | $ | 35 |  |  | $ | 23 |
Other | 170 |  |  | — |  |  | 39 |  |  | — |  |  | 39 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |
Other | 6 |  |  | 1 |  |  | 4 |  |  | 4 |  |  | — |
Total cash, cash equivalents and restricted cash | $ | 517 |  |  | $ | 8 |  |  | $ | 113 |  |  | $ | 39 |  |  | $ | 62 |
Components of Inventory | The components of inventory are presented in the tables below.
| December 31, 2022
|  |  | 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 | $ | 2,604 |  |  | $ | 876 |  |  | $ | 1,232 |  |  | $ | 819 |  |  | $ | 413 |  |  | $ | 105 |  |  | $ | 342 |  |  | $ | 12 |
Coal | 620 |  |  | 253 |  |  | 190 |  |  | 99 |  |  | 91 |  |  | 34 |  |  | 144 |  |  | — |
Natural gas, oil and other | 360 |  |  | 35 |  |  | 157 |  |  | 88 |  |  | 69 |  |  | 5 |  |  | 3 |  |  | 160 |
Total inventory | $ | 3,584 |  |  | $ | 1,164 |  |  | $ | 1,579 |  |  | $ | 1,006 |  |  | $ | 573 |  |  | $ | 144 |  |  | $ | 489 |  |  | $ | 172 |
| 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 | $ | 2,309 |  |  | $ | 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 | $ | 3,111 |  |  | $ | 1,026 |  |  | $ | 1,398 |  |  | $ | 921 |  |  | $ | 477 |  |  | $ | 116 |  |  | $ | 418 |  |  | $ | 109 |
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,
| 2022 |  | 2021 |  | 2020
Duke Energy | 3.0 | % |  | 2.9 | % |  | 3.0 | %
Duke Energy Carolinas | 2.7 | % |  | 2.7 | % |  | 2.8 | %
Progress Energy | 3.2 | % |  | 3.1 | % |  | 3.2 | %
Duke Energy Progress | 3.0 | % |  | 3.0 | % |  | 3.1 | %
Duke Energy Florida | 3.5 | % |  | 3.3 | % |  | 3.3 | %
Duke Energy Ohio | 2.9 | % |  | 2.9 | % |  | 2.9 | %
Duke Energy Indiana | 3.6 | % |  | 3.6 | % |  | 3.5 | %
Piedmont | 2.1 | % |  | 2.1 | % |  | 2.3 | %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
| December 31, 2022
| 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 |  |  | $ | 2,232 |  |  | $ | 565 |  |  | $ | 993 |  |  | $ | 496 |  |  | $ | 497 |  |  | $ | 230 |  |  | $ | 124 |  |  | $ | 295 |
Plant – Regulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 39 |  | 126,016 |  |  | 46,640 |  |  | 55,872 |  |  | 33,336 |  |  | 22,536 |  |  | 6,900 |  |  | 16,604 |  |  | — |
Natural gas transmission and distribution | 56 |  | 13,174 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,773 |  |  | — |  |  | 9,401 |
Other buildings and improvements | 40 |  | 2,537 |  |  | 973 |  |  | 647 |  |  | 341 |  |  | 306 |  |  | 398 |  |  | 336 |  |  | 183 |
Plant – Nonregulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other buildings and improvements | 10 |  | 369 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Nuclear fuel |  |  | 3,081 |  |  | 1,723 |  |  | 1,358 |  |  | 1,358 |  |  | — |  |  | — |  |  | — |  |  | — |
Equipment | 13 |  | 2,959 |  |  | 710 |  |  | 936 |  |  | 567 |  |  | 369 |  |  | 441 |  |  | 356 |  |  | 125 |
Construction in process |  |  | 7,381 |  |  | 2,671 |  |  | 3,073 |  |  | 1,317 |  |  | 1,756 |  |  | 375 |  |  | 381 |  |  | 478 |
Other | 15 |  | 6,090 |  |  | 1,368 |  |  | 1,943 |  |  | 1,460 |  |  | 476 |  |  | 380 |  |  | 320 |  |  | 387 |
Total property, plant and equipment(a) |  |  | 163,839 |  |  | 54,650 |  |  | 64,822 |  |  | 38,875 |  |  | 25,940 |  |  | 12,497 |  |  | 18,121 |  |  | 10,869 |
Total accumulated depreciation – regulated(b)(c) |  |  | (50,544) |  |  | (18,669) |  |  | (20,584) |  |  | (14,201) |  |  | (6,377) |  |  | (3,250) |  |  | (6,021) |  |  | (2,081) |
Total accumulated depreciation – nonregulated(d) |  |  | (1,556) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Facilities to be retired, net |  |  | 9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |
Total net property, plant and equipment |  |  | $ | 111,748 |  |  | $ | 35,981 |  |  | $ | 44,238 |  |  | $ | 24,674 |  |  | $ | 19,563 |  |  | $ | 9,247 |  |  | $ | 12,100 |  |  | $ | 8,797 |
(a) Includes finance leases of $816 million, $335 million, $674 million, $590 million, $84 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 $233 million, $81 million and $152 million, respectively, of accumulated amortization of finance leases. (b) Includes $1,683 million, $934 million, $749 million and $749 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 $7 million, $51 million and $4 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.
| 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 |  |  | $ | 2,145 |  |  | $ | 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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 |  |  | 5,979 |  |  | 2,078 |  |  | 2,297 |  |  | 954 |  |  | 1,343 |  |  | 515 |  |  | 460 |  |  | 262 |
Other | 14 |  | 5,276 |  |  | 1,323 |  |  | 1,563 |  |  | 1,115 |  |  | 437 |  |  | 287 |  |  | 253 |  |  | 368 |
Total property, plant and equipment(a) |  |  | 154,496 |  |  | 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) |  |  | (1,493) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Facilities to be retired, net |  |  | 144 |  |  | 102 |  |  | 26 |  |  | 26 |  |  | — |  |  | 6 |  |  | — |  |  | 11 |
Total net property, plant and equipment |  |  | $ | 105,536 |  |  | $ | 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. 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 year 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.
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, 2022, and December 31, 2021.
| December 31, 2022 |  |
|  | Duke |  | Duke | Duke | Duke | Duke |  |  |  |  |  |  |
| Duke | Energy | Progress | Energy | Energy | Energy | Energy |  |  |  |  |  |  |
(in millions) | Energy | Carolinas | Energy | Progress | Florida | Ohio | Indiana | Piedmont |  |  |  |  |  |
Outstanding Accounts Payable Balance Sold | $ | 87 |  | $ | 6 |  | $ | 19 |  | $ | 8 |  | $ | 11 |  | $ | 5 |  | $ | — |  | $ | 57 |  |  |  |  |  |  |
Suppliers Invoices Settled Through The Program | 301 |  | 29 |  | 85 |  | 26 |  | 59 |  | 38 |  | 2 |  | 147 |  |  |  |  |  |  |
| December 30, 2021
|  |  | Duke | Duke |
| Duke | Progress | Energy | Energy |
(in millions) | Energy | Energy | Florida | Ohio | Piedmont
Outstanding Accounts Payable Balance Sold | $ | 19 |  | $ | 9 |  | $ | 9 |  | $ | 6 |  | $ | 4 |
Suppliers Invoices Settled Through The Program | 122 |  | 10 |  | 10 |  | 12 |  | 100 |
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) | 2022 |  | 2021 |  | 2020
Duke Energy | $ | 449 |  |  | $ | 420 |  |  | $ | 415 |
Duke Energy Carolinas | 47 |  |  | 44 |  |  | 43 |
Progress Energy | 290 |  |  | 250 |  |  | 249 |
Duke Energy Progress | 25 |  |  | 22 |  |  | 26 |
Duke Energy Florida | 265 |  |  | 228 |  |  | 223 |
Duke Energy Ohio | 104 |  |  | 102 |  |  | 96 |
Duke Energy Indiana | 7 |  |  | 23 |  |  | 25 |
Piedmont | 1 |  |  | 1 |  |  | 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 |

X
- Definition Schedule of Accounts Payable and Supplier Invoices Sold + References No definition available. + Details
Name: | duk_ScheduleOfAccountsPayableAndSupplierInvoicesSoldTableTextBlock
Namespace Prefix: | duk_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of other current and noncurrent assets and liabilities that exceed 5% threshold but are not disclosed on the face of the balance sheet. + References No definition available. + Details
Name: | duk_ScheduleOfCurrentAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | duk_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of excise taxes accounted for on a gross basis during the reporting period. + References No definition available. + Details
Name: | duk_ScheduleOfExciseTaxesTableTextBlock
Namespace Prefix: | duk_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of cash and cash equivalents. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126900757&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=126900757&loc=d3e725-108305 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of public utility physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation expense and method used, including composite depreciation, and accumulated depreciation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 20 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=84167750&loc=d3e42232-110370 + Details
Name: | us-gaap_ScheduleOfPublicUtilityPropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all information related to inventories for utilities. + References No definition available. + Details
Name: | us-gaap_ScheduleOfUtilityInventoryTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration