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v3.23.3

Employee Benefit Plans | 9 Months Ended
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Sep. 30, 2023
Retirement Benefits [Abstract] |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS DEFINED BENEFIT RETIREMENT PLANS Duke Energy and certain subsidiaries maintain, and the Subsidiary Registrants participate in, qualified and non-qualified, non-contributory defined benefit retirement plans. Duke Energy's policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants. The following table includes information related to the Duke Energy Registrants' contributions to its qualified defined benefit pension plans.
| Nine Months Ended September 30, 2023 and 2022
|  |  | Duke |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | Energy |  | Carolinas |  | Energy | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Contributions made: |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 | $ | 100 |  |  | $ | 26 |  |  | $ | 22 |  | $ | 13 |  |  | $ | 9 |  |  | $ | 5 |  |  | $ | 8 |  |  | $ | 3 |
2022 | $ | 58 |  |  | $ | 15 |  |  | $ | 13 |  | $ | 8 |  |  | $ | 5 |  |  | $ | 3 |  |  | $ | 5 |  |  | $ | 2 |
QUALIFIED PENSION PLANS The following tables include the components of net periodic pension costs for qualified pension plans.
| Three Months Ended September 30, 2023
|  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Service cost | $ | 28 |  |  | $ | 9 |  |  | $ | 9 |  |  | $ | 5 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Interest cost on projected benefit obligation | 86 |  |  | 21 |  |  | 26 |  |  | 12 |  |  | 14 |  |  | 4 |  |  | 6 |  |  | 2 |
Expected return on plan assets | (147) |  |  | (40) |  |  | (50) |  |  | (24) |  |  | (26) |  |  | (6) |  |  | (10) |  |  | (5) |
Amortization of actuarial loss | 2 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | — |
Amortization of prior service credit | (3) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |
Amortization of settlement charges | 5 |  |  | 3 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Net periodic pension costs | $ | (29) |  |  | $ | (7) |  |  | $ | (13) |  |  | $ | (6) |  |  | $ | (8) |  |  | $ | (1) |  |  | $ | (2) |  |  | $ | (2) |
| Three Months Ended September 30, 2022
|  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Service cost | $ | 39 |  |  | $ | 12 |  |  | $ | 11 |  |  | $ | 6 |  |  | $ | 4 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 1 |
Interest cost on projected benefit obligation | 58 |  |  | 14 |  |  | 19 |  |  | 9 |  |  | 10 |  |  | 3 |  |  | 4 |  |  | 2 |
Expected return on plan assets | (140) |  |  | (38) |  |  | (46) |  |  | (22) |  |  | (24) |  |  | (6) |  |  | (9) |  |  | (6) |
Amortization of actuarial loss | 24 |  |  | 5 |  |  | 6 |  |  | 3 |  |  | 3 |  |  | 2 |  |  | 3 |  |  | 2 |
Amortization of prior service credit | (5) |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2) |
Amortization of settlement charges | 14 |  |  | 3 |  |  | 5 |  |  | 4 |  |  | 1 |  |  | 2 |  |  | 1 |  |  | 2 |
Net periodic pension costs | $ | (10) |  |  | $ | (5) |  |  | $ | (5) |  |  | $ | — |  |  | $ | (6) |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | (1) |
| Nine Months Ended September 30, 2023
|  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Service cost | $ | 87 |  |  | $ | 28 |  |  | $ | 25 |  |  | $ | 15 |  |  | $ | 10 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 3 |
Interest cost on projected benefit obligation | 258 |  |  | 63 |  |  | 80 |  |  | 37 |  |  | 43 |  |  | 13 |  |  | 20 |  |  | 7 |
Expected return on plan assets | (441) |  |  | (120) |  |  | (149) |  |  | (70) |  |  | (78) |  |  | (18) |  |  | (30) |  |  | (15) |
Amortization of actuarial loss | 7 |  |  | 1 |  |  | 3 |  |  | 1 |  |  | 2 |  |  | — |  |  | 2 |  |  | — |
Amortization of prior service credit | (10) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (5) |
Amortization of settlement charges | 14 |  |  | 7 |  |  | 3 |  |  | 3 |  |  | 1 |  |  | — |  |  | 1 |  |  | 3 |
Net periodic pension costs | $ | (85) |  |  | $ | (21) |  |  | $ | (38) |  |  | $ | (14) |  |  | $ | (22) |  |  | $ | (3) |  |  | $ | (4) |  |  | $ | (7) |
| Nine Months Ended September 30, 2022
|  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Service cost | $ | 120 |  |  | $ | 38 |  |  | $ | 34 |  |  | $ | 20 |  |  | $ | 14 |  |  | $ | 3 |  |  | $ | 7 |  |  | $ | 4 |
Interest cost on projected benefit obligation | 175 |  |  | 41 |  |  | 55 |  |  | 25 |  |  | 30 |  |  | 9 |  |  | 14 |  |  | 6 |
Expected return on plan assets | (421) |  |  | (114) |  |  | (139) |  |  | (66) |  |  | (72) |  |  | (17) |  |  | (28) |  |  | (18) |
Amortization of actuarial loss | 71 |  |  | 15 |  |  | 19 |  |  | 10 |  |  | 9 |  |  | 4 |  |  | 8 |  |  | 5 |
Amortization of prior service credit | (14) |  |  | (3) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (6) |
Amortization of settlement charges | 18 |  |  | 6 |  |  | 6 |  |  | 5 |  |  | 1 |  |  | 2 |  |  | 1 |  |  | 2 |
Net periodic pension costs | $ | (51) |  |  | $ | (17) |  |  | $ | (25) |  |  | $ | (6) |  |  | $ | (18) |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | (7) |
NON-QUALIFIED PENSION PLANS Net periodic pension costs for non-qualified pension plans were not material for the three and nine months ended September 30, 2023, and 2022. OTHER POST-RETIREMENT BENEFIT PLANS Net periodic costs for OPEB plans were not material for the three and nine months ended September 30, 2023, and 2022.

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