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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2023, or 2022.
|  |  | December 31,
(in millions) | Location |  | 2023 |  | 2022
Duke Energy Carolinas |  |  |  |  |
Accrued compensation | Current Liabilities |  | $ | 224 |  |  | $ | 247 |
Duke Energy Florida |  |  |  |  |
Customer deposits/Collateral liabilities | Current Liabilities |  | $ | 168 |  |  | $ | 200 |
Duke Energy Ohio |  |  |  |  |
Gas Storage | Current Assets |  | $ | 23 |  |  | $ | 57 |
Tax receivables | Current Assets |  | 95 |  |  | 4 |
Duke Energy Indiana |  |  |  |  |
Mark-to-market transactions | Current Assets |  | $ | 18 |  |  | $ | 110 |
Customer advances | Current Liabilities |  | $ | 87 |  |  | $ | 51 |
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, 2023
|  |  | Duke |  |  |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida
Current Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 253 |  |  | $ | 9 |  |  | $ | 59 |  |  | $ | 18 |  |  | $ | 24 |
Other | 76 |  |  | 9 |  |  | 67 |  |  | 31 |  |  | 36 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |
Other | 16 |  |  | 1 |  |  | 9 |  |  | 2 |  |  | 7 |
Total cash, cash equivalents and restricted cash | $ | 345 |  |  | $ | 19 |  |  | $ | 135 |  |  | $ | 51 |  |  | $ | 67 |
| December 31, 2022
|  |  | Duke |  |  |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida
Current Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 409 |  |  | $ | 44 |  |  | $ | 108 |  |  | $ | 49 |  |  | $ | 45 |
Other | 82 |  |  | 8 |  |  | 74 |  |  | 28 |  |  | 41 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |
Other | 11 |  |  | 1 |  |  | 2 |  |  | 2 |  |  | — |
Total cash, cash equivalents and restricted cash | $ | 502 |  |  | $ | 53 |  |  | $ | 184 |  |  | $ | 79 |  |  | $ | 86 |
Restrictions on 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, 2023
|  |  | Duke |  |  |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida
Current Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 253 |  |  | $ | 9 |  |  | $ | 59 |  |  | $ | 18 |  |  | $ | 24 |
Other | 76 |  |  | 9 |  |  | 67 |  |  | 31 |  |  | 36 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |
Other | 16 |  |  | 1 |  |  | 9 |  |  | 2 |  |  | 7 |
Total cash, cash equivalents and restricted cash | $ | 345 |  |  | $ | 19 |  |  | $ | 135 |  |  | $ | 51 |  |  | $ | 67 |
| December 31, 2022
|  |  | Duke |  |  |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida
Current Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 409 |  |  | $ | 44 |  |  | $ | 108 |  |  | $ | 49 |  |  | $ | 45 |
Other | 82 |  |  | 8 |  |  | 74 |  |  | 28 |  |  | 41 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |
Other | 11 |  |  | 1 |  |  | 2 |  |  | 2 |  |  | — |
Total cash, cash equivalents and restricted cash | $ | 502 |  |  | $ | 53 |  |  | $ | 184 |  |  | $ | 79 |  |  | $ | 86 |
Components of Inventory | The components of inventory are presented in the tables below.
| December 31, 2023
|  |  | 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 | $ | 3,086 |  |  | $ | 1,075 |  |  | $ | 1,465 |  |  | $ | 963 |  |  | $ | 502 |  |  | $ | 139 |  |  | $ | 361 |  |  | $ | 12 |
Coal | 842 |  |  | 364 |  |  | 231 |  |  | 154 |  |  | 77 |  |  | 28 |  |  | 219 |  |  | — |
Natural gas, oil and other | 364 |  |  | 45 |  |  | 205 |  |  | 110 |  |  | 95 |  |  | 12 |  |  | 2 |  |  | 100 |
Total inventory | $ | 4,292 |  |  | $ | 1,484 |  |  | $ | 1,901 |  |  | $ | 1,227 |  |  | $ | 674 |  |  | $ | 179 |  |  | $ | 582 |  |  | $ | 112 |
| 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 |
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,
| 2023 |  | 2022 |  | 2021
Duke Energy | 2.9 | % |  | 3.0 | % |  | 2.9 | %
Duke Energy Carolinas | 2.7 | % |  | 2.7 | % |  | 2.7 | %
Progress Energy | 3.3 | % |  | 3.2 | % |  | 3.1 | %
Duke Energy Progress | 3.1 | % |  | 3.0 | % |  | 3.0 | %
Duke Energy Florida | 3.5 | % |  | 3.5 | % |  | 3.3 | %
Duke Energy Ohio | 2.8 | % |  | 2.9 | % |  | 2.9 | %
Duke Energy Indiana | 3.6 | % |  | 3.6 | % |  | 3.6 | %
Piedmont | 2.1 | % |  | 2.1 | % |  | 2.1 | %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
| December 31, 2023
| 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 |  |  | $ | 2,345 |  |  | $ | 581 |  |  | $ | 1,012 |  |  | $ | 502 |  |  | $ | 510 |  |  | $ | 242 |  |  | $ | 133 |  |  | $ | 352 |
Plant – Regulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 40 |  | 129,985 |  |  | 48,107 |  |  | 57,436 |  |  | 33,171 |  |  | 24,265 |  |  | 7,243 |  |  | 17,199 |  |  | — |
Natural gas transmission and distribution | 57 |  | 14,130 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,993 |  |  | — |  |  | 10,137 |
Other buildings and improvements | 42 |  | 2,887 |  |  | 1,213 |  |  | 677 |  |  | 377 |  |  | 300 |  |  | 421 |  |  | 355 |  |  | 221 |
Nuclear fuel |  |  | 3,303 |  |  | 1,866 |  |  | 1,437 |  |  | 1,437 |  |  | — |  |  | — |  |  | — |  |  | — |
Equipment | 14 |  | 3,409 |  |  | 870 |  |  | 1,104 |  |  | 654 |  |  | 450 |  |  | 474 |  |  | 442 |  |  | 143 |
Construction in process |  |  | 8,372 |  |  | 2,578 |  |  | 3,941 |  |  | 1,661 |  |  | 2,280 |  |  | 427 |  |  | 427 |  |  | 690 |
Other | 12 |  | 6,920 |  |  | 1,455 |  |  | 2,037 |  |  | 1,481 |  |  | 548 |  |  | 410 |  |  | 344 |  |  | 363 |
Total property, plant and equipment(a) |  |  | 171,351 |  |  | 56,670 |  |  | 67,644 |  |  | 39,283 |  |  | 28,353 |  |  | 13,210 |  |  | 18,900 |  |  | 11,906 |
Total accumulated depreciation – regulated(b)(c) |  |  | (54,323) |  |  | (19,896) |  |  | (22,300) |  |  | (15,227) |  |  | (7,067) |  |  | (3,451) |  |  | (6,501) |  |  | (2,259) |
Total accumulated depreciation – other(d) |  |  | (1,715) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Facilities to be retired, net |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |
Total net property, plant and equipment |  |  | $ | 115,315 |  |  | $ | 36,774 |  |  | $ | 45,344 |  |  | $ | 24,056 |  |  | $ | 21,286 |  |  | $ | 9,759 |  |  | $ | 12,399 |  |  | $ | 9,649 |
(a) Includes finance leases of $697 million, $335 million, $615 million, $552 million, $63 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 $292 million, $119 million and $173 million, respectively, of accumulated amortization of finance leases. (b) Includes $1,793 million, $991 million, $802 million and $802 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 $3 million, $67 million and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively. (d) Includes accumulated amortization of finance leases of $7 million at Duke Energy.
| 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 |
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 | 13 |  | 6,459 |  |  | 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 – other(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. Duke Energy has continued 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 was 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, 2023, and December 31, 2022.
| For the Years Ended December 31, 2022 and 2023 |  |
|  | Duke |  | Duke | Duke | Duke | Duke |  |  |  |  |  |  |
| Duke | Energy | Progress | Energy | Energy | Energy | Energy |  |  |  |  |  |  |
(in millions) | Energy | Carolinas | Energy | Progress | Florida | Ohio | Indiana | Piedmont |  |  |  |  |  |
Confirmed obligations outstanding at December 31, 2021 | $ | 19 |  | $ | — |  | $ | 9 |  | $ | — |  | $ | 9 |  | $ | 6 |  | $ | — |  | $ | 4 |  |  |  |  |  |  |
Invoices confirmed during the period | 283 |  | 29 |  | 76 |  | 26 |  | 50 |  | 32 |  | 2 |  | 145 |  |  |  |  |  |  |
Confirmed invoices paid during the period | (215) |  | (23) |  | (66) |  | (18) |  | (48) |  | (33) |  | (2) |  | (92) |  |  |  |  |  |  |
Confirmed obligations outstanding at December 31, 2022 | $ | 87 |  | $ | 6 |  | $ | 19 |  | $ | 8 |  | $ | 11 |  | $ | 5 |  | $ | — |  | $ | 57 |  |  |  |  |  |  |
Invoices confirmed during the period | 228 |  | 24 |  | 58 |  | 22 |  | 36 |  | 7 |  | — |  | 139 |  |  |  |  |  |  |
Confirmed invoices paid during the period | (265) |  | (30) |  | (74) |  | (30) |  | (44) |  | (12) |  | — |  | (149) |  |  |  |  |  |  |
Confirmed obligations outstanding at December 31, 2023 | $ | 50 |  | $ | — |  | $ | 3 |  | $ | — |  | $ | 3 |  | $ | — |  | $ | — |  | $ | 47 |  |  |  |  |  |  |
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) | 2023 |  | 2022 |  | 2021
Duke Energy | $ | 458 |  |  | $ | 449 |  |  | $ | 420 |
Duke Energy Carolinas | 27 |  |  | 47 |  |  | 44 |
Progress Energy | 322 |  |  | 290 |  |  | 250 |
Duke Energy Progress | 5 |  |  | 25 |  |  | 22 |
Duke Energy Florida | 317 |  |  | 265 |  |  | 228 |
Duke Energy Ohio | 106 |  |  | 104 |  |  | 102 |
Duke Energy Indiana | 1 |  |  | 7 |  |  | 23 |
Piedmont | 2 |  |  | 1 |  |  | 1 |

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