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v3.23.2

Related Party Transactions (Tables) | 6 Months Ended
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Jun. 30, 2023
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included on the Condensed Consolidated Statements of Operations and Comprehensive Income are presented in the following table.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2023 |  | 2022 |  | 2023 |  | 2022
Duke Energy Carolinas |  |  |  |  |  |  |
Corporate governance and shared service expenses(a) | $ | 192 |  |  | $ | 191 |  |  | $ | 388 |  |  | $ | 397 |
Indemnification coverages(b) | 8 |  |  | 7 |  |  | 17 |  |  | 14 |
Joint Dispatch Agreement (JDA) revenue(c) | 8 |  |  | 12 |  |  | 21 |  |  | 38 |
JDA expense(c) | 34 |  |  | 173 |  |  | 63 |  |  | 267 |
Intercompany natural gas purchases(d) | 4 |  |  | 5 |  |  | 9 |  |  | 9 |
Progress Energy |  |  |  |  |  |  |
Corporate governance and shared service expenses(a) | $ | 172 |  |  | $ | 184 |  |  | $ | 350 |  |  | $ | 380 |
Indemnification coverages(b) | 12 |  |  | 11 |  |  | 24 |  |  | 22 |
JDA revenue(c) | 34 |  |  | 173 |  |  | 63 |  |  | 267 |
JDA expense(c) | 8 |  |  | 12 |  |  | 21 |  |  | 38 |
Intercompany natural gas purchases(d) | 18 |  |  | 19 |  |  | 37 |  |  | 38 |
Duke Energy Progress |  |  |  |  |  |  |
Corporate governance and shared service expenses(a) | $ | 104 |  |  | $ | 108 |  |  | $ | 211 |  |  | $ | 227 |
Indemnification coverages(b) | 5 |  |  | 5 |  |  | 10 |  |  | 10 |
JDA revenue(c) | 34 |  |  | 173 |  |  | 63 |  |  | 267 |
JDA expense(c) | 8 |  |  | 12 |  |  | 21 |  |  | 38 |
Intercompany natural gas purchases(d) | 18 |  |  | 19 |  |  | 37 |  |  | 38 |
Duke Energy Florida |  |  |  |  |  |  |
Corporate governance and shared service expenses(a) | $ | 68 |  |  | $ | 76 |  |  | $ | 139 |  |  | $ | 153 |
Indemnification coverages(b) | 7 |  |  | 6 |  |  | 14 |  |  | 12 |
Duke Energy Ohio |  |  |  |  |  |  |
Corporate governance and shared service expenses(a) | $ | 76 |  |  | $ | 82 |  |  | $ | 149 |  |  | $ | 164 |
Indemnification coverages(b) | 2 |  |  | 1 |  |  | 3 |  |  | 2 |
Duke Energy Indiana |  |  |  |  |  |  |
Corporate governance and shared service expenses(a) | $ | 84 |  |  | $ | 91 |  |  | $ | 183 |  |  | $ | 215 |
Indemnification coverages(b) | 2 |  |  | 2 |  |  | 4 |  |  | 4 |
Piedmont |  |  |  |  |  |  |
Corporate governance and shared service expenses(a) | $ | 37 |  |  | $ | 37 |  |  | $ | 75 |  |  | $ | 72 |
Indemnification coverages(b) | 1 |  |  | 2 |  |  | 2 |  |  | 3 |
Intercompany natural gas sales(d) | 22 |  |  | 24 |  |  | 46 |  |  | 47 |
Natural gas storage and transportation costs(e) | 6 |  |  | 5 |  |  | 12 |  |  | 11 |
(a)The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other and Impairment of assets and other charges on the Condensed Consolidated Statements of Operations and Comprehensive Income. (b)The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Condensed Consolidated Statements of Operations and Comprehensive Income. (c)Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Income. (d)Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating Revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Condensed Consolidated Statements of Operations and Comprehensive Income. (e)Piedmont has related party transactions as a customer of its equity method investments in Pine Needle LNG Company, LLC, Hardy Storage Company, LLC and Cardinal Pipeline Company, LLC natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Condensed Consolidated Statements of Operations and Comprehensive Income.The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants.
| Duke |  | Duke | Duke | Duke | Duke |
| Energy | Progress | Energy | Energy | Energy | Energy |
(in millions) | Carolinas | Energy | Progress | Florida | Ohio | Indiana | Piedmont
June 30, 2023 |  |  |  |  |  |  |
Intercompany income tax receivable | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 2 |  | $ | — |  | $ | 24 |
Intercompany income tax payable | 89 |  | 50 |  | 28 |  | 95 |  | — |  | 26 |  | — |
December 31, 2022 |  |  |  |  |  |  |
Intercompany income tax receivable | $ | — |  | $ | 95 |  | $ | 36 |  | $ | 17 |  | $ | — |  | $ | — |  | $ | — |
Intercompany income tax payable | 37 |  | — |  | — |  | — |  | 17 |  | 18 |  | 38 |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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