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v3.23.3

Business Segments | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Business Segments | BUSINESS SEGMENTS Duke Energy Due to Duke Energy's commitment in the fourth quarter of 2022 to sell the Commercial Renewables business segment, Duke Energy's segment structure now includes the following two segments: EU&I and GU&I. Prior period information has been recast to conform to the current segment structure. See Note 2 for further information on the Commercial Renewables Disposal Groups. The EU&I segment primarily includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. EU&I also includes Duke Energy's electric transmission infrastructure investments and the offshore wind contract for Carolina Long Bay. Refer to Note 2 for further information. The GU&I segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky and Duke Energy's natural gas storage, midstream pipeline and renewable natural gas investments. The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs, Duke Energy’s wholly owned captive insurance company, Bison, and Duke Energy's ownership interest in National Methanol Company. Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.
| Three Months Ended September 30, 2023
| Electric |  | Gas |  |  |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  |  |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  |  |  | Segments |  | Other |  | Eliminations |  | Total
Unaffiliated revenues | $ | 7,695 |  |  | $ | 291 |  |  |  |  | $ | 7,986 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 7,994 |
Intersegment revenues | 20 |  |  | 22 |  |  |  |  | 42 |  |  | 25 |  |  | (67) |  |  | — |
Total revenues | $ | 7,715 |  |  | $ | 313 |  |  |  |  | $ | 8,028 |  |  | $ | 33 |  |  | $ | (67) |  |  | $ | 7,994 |
Segment income (loss)(a) | $ | 1,447 |  |  | $ | 15 |  |  |  |  | $ | 1,462 |  |  | $ | (59) |  |  | $ | — |  |  | $ | 1,403 |
Less: Noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | (69) |
Add: Preferred stock dividend |  |  |  |  |  |  |  |  |  |  |  |  | 39 |
Discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  | (190) |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,321 |
Segment assets(b) | $ | 155,588 |  |  | $ | 16,724 |  |  |  |  | $ | 172,312 |  |  | $ | 8,848 |  |  | $ | — |  |  | $ | 181,160 |
| Three Months Ended September 30, 2022
| Electric |  | Gas |  |  |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  |  |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  |  |  | Segments |  | Other |  | Eliminations |  | Total
Unaffiliated revenues | $ | 7,431 |  |  | $ | 404 |  |  |  |  | $ | 7,835 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 7,842 |
Intersegment revenues | 8 |  |  | 23 |  |  |  |  | 31 |  |  | 23 |  |  | (54) |  |  | — |
Total revenues | $ | 7,439 |  |  | $ | 427 |  |  |  |  | $ | 7,866 |  |  | $ | 30 |  |  | $ | (54) |  |  | $ | 7,842 |
Segment income (loss) | $ | 1,540 |  |  | $ | 4 |  |  |  |  | $ | 1,544 |  |  | $ | (183) |  |  | $ | (1) |  |  | $ | 1,360 |
Less: Noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | 9 |
Add: Preferred stock dividend |  |  |  |  |  |  |  |  |  |  |  |  | 39 |
Discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  | 23 |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,413 |
(a)EU&I includes $95 million recorded within Impairment of assets and other charges and $16 million within Operations, maintenance and other on Duke Energy Carolinas' and Duke Energy Progress' Condensed Consolidated Statement of Operations related primarily to Duke Energy Carolinas' North Carolina rate case settlement and Duke Energy Progress' North Carolina rate case order. See Note 4 for additional information. (b)Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.
| Nine Months Ended September 30, 2023
| Electric |  | Gas |  |  |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  |  |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  |  |  | Segments |  | Other |  | Eliminations |  | Total
Unaffiliated revenues | $ | 20,308 |  |  | $ | 1,516 |  |  |  |  | $ | 21,824 |  |  | $ | 24 |  |  | $ | — |  |  | $ | 21,848 |
Intersegment revenues | 55 |  |  | 67 |  |  |  |  | 122 |  |  | 74 |  |  | (196) |  |  | — |
Total revenues | $ | 20,363 |  |  | $ | 1,583 |  |  |  |  | $ | 21,946 |  |  | $ | 98 |  |  | $ | (196) |  |  | $ | 21,848 |
Segment income (loss)(a) | $ | 3,088 |  |  | $ | 327 |  |  |  |  | $ | 3,415 |  |  | $ | (388) |  |  | $ | — |  |  | $ | 3,027 |
Less: Noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | (42) |
Add: Preferred stock dividend |  |  |  |  |  |  |  |  |  |  |  |  | 92 |
Discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  | (1,283) |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,878 |
| Nine Months Ended September 30, 2022
| Electric |  | Gas |  |  |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  |  |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  |  |  | Segments |  | Other |  | Eliminations |  | Total
Unaffiliated revenues | $ | 19,552 |  |  | $ | 1,843 |  |  |  |  | $ | 21,395 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 21,417 |
Intersegment revenues | 24 |  |  | 69 |  |  |  |  | 93 |  |  | 69 |  |  | (162) |  |  | — |
Total revenues | $ | 19,576 |  |  | $ | 1,912 |  |  |  |  | $ | 21,488 |  |  | $ | 91 |  |  | $ | (162) |  |  | $ | 21,417 |
Segment income (loss)(b) | $ | 3,237 |  |  | $ | 277 |  |  |  |  | $ | 3,514 |  |  | $ | (480) |  |  | $ | (2) |  |  | $ | 3,032 |
Less: Noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | 73 |
Add: Preferred stock dividend |  |  |  |  |  |  |  |  |  |  |  |  | 92 |
Discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  | 62 |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 3,113 |
Duke Energy Ohio Duke Energy Ohio has two reportable segments, EU&I and GU&I. The remainder of Duke Energy Ohio's operations is presented as Other.
| Three Months Ended September 30, 2023
| Electric |  | Gas |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  | Segments |  | Other |  | Eliminations |  | Total
Total revenues | $ | 472 |  |  | $ | 105 |  |  | $ | 577 |  |  | $ | — |  |  | $ | — |  |  | $ | 577 |
Segment income (loss)/Net income | $ | 65 |  |  | $ | 17 |  |  | $ | 82 |  |  | $ | (2) |  |  | $ | — |  |  | $ | 80 |
Segment assets | $ | 7,745 |  |  | $ | 4,218 |  |  | $ | 11,963 |  |  | $ | 10 |  |  | $ | (179) |  |  | $ | 11,794 |
| Three Months Ended September 30, 2022
| Electric |  | Gas |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  | Segments |  | Other |  |  |  | Total
Total revenues | $ | 507 |  |  | $ | 121 |  |  | $ | 628 |  |  | $ | — |  |  |  |  | $ | 628 |
Segment income (loss)/Net income | $ | 74 |  |  | $ | 30 |  |  | $ | 104 |  |  | $ | (1) |  |  |  |  | $ | 103 |
| Nine Months Ended September 30, 2023
| Electric |  | Gas |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  | Segments |  | Other |  |  |  | Total
Total revenues | $ | 1,411 |  |  | $ | 464 |  |  | $ | 1,875 |  |  | $ | — |  |  |  |  | $ | 1,875 |
Segment income (loss)/Net income | $ | 168 |  |  | $ | 87 |  |  | $ | 255 |  |  | $ | (4) |  |  |  |  | $ | 251 |
| Nine Months Ended September 30, 2022
| Electric |  | Gas |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  | Segments |  | Other |  |  |  | Total
Total revenues | $ | 1,320 |  |  | $ | 491 |  |  | $ | 1,811 |  |  | $ | — |  |  |  |  | $ | 1,811 |
Segment income (loss)/Net income | $ | 152 |  |  | $ | 87 |  |  | $ | 239 |  |  | $ | (3) |  |  |  |  | $ | 236 |

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