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Derivatives and Hedging (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional Amounts of Outstanding Derivative Positions | The following tables show notional amounts of outstanding derivatives related to interest rate risk.
| December 31, 2023
|  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Indiana |  | Ohio
Cash flow hedges | $ | 2,300 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Undesignated contracts | 2,727 |  |  | 1,050 |  |  | 1,250 |  |  | 925 |  |  | 325 |  |  | 400 |  |  | 27 |
Total notional amount | $ | 5,027 |  |  | $ | 1,050 |  |  | $ | 1,250 |  |  | $ | 925 |  |  | $ | 325 |  |  | $ | 400 |  |  | $ | 27 |
| December 31, 2022
|  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Indiana |  | Ohio
Cash flow hedges | $ | 500 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Undesignated contracts | 2,377 |  |  | 1,250 |  |  | 800 |  |  | 500 |  |  | 300 |  |  | 300 |  |  | 27 |
Total notional amount | $ | 2,877 |  |  | $ | 1,250 |  |  | $ | 800 |  |  | $ | 500 |  |  | $ | 300 |  |  | $ | 300 |  |  | $ | 27 |
The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.
| December 31, 2023
|  |  | Duke |  |  |  | Duke |  |  |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  |  |  | Energy |  | Energy |  |
| Energy |  | Carolinas |  | Energy |  | Progress |  |  |  | Ohio |  | Indiana |  | Piedmont
Electricity (GWh) | 13,608 |  |  | — |  |  | — |  |  | — |  |  |  |  | 1,616 |  |  | 11,992 |  |  | — |
Natural gas (millions of Dth) | 846 |  |  | 279 |  |  | 274 |  |  | 274 |  |  |  |  | — |  |  | 30 |  |  | 263 |
| December 31, 2022
|  |  | Duke |  |  |  | Duke |  |  |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  |  |  | Energy |  | Energy |  |
| Energy |  | Carolinas |  | Energy |  | Progress |  |  |  | Ohio |  | Indiana |  | Piedmont
Electricity (GWh) | 14,086 |  |  | — |  |  | — |  |  | — |  |  |  |  | 1,820 |  |  | 12,266 |  |  | — |
Natural gas (millions of Dth) | 909 |  |  | 307 |  |  | 292 |  |  | 292 |  |  |  |  | — |  |  | 11 |  |  | 299 |
The following table shows Duke Energy's outstanding derivatives related to foreign currency risk. There were no fair value hedges in 2021.
|  |  |  |  |  |  |  |  |  |  |  |  |  | Fair Value Gain (Loss)(a)
|  |  |  |  | Receive |  |  |  |  |  | Hedge |  | (in millions)
| Pay Notional |  |  |  | Notional |  | Receive |  |  |  | Maturity |  | Years Ended December 31,
| (in millions) |  | Pay Rate |  | (in millions) |  | Rate |  |  |  | Date |  | 2023 | 2022
Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| $ | 645 |  |  | 4.75 | % |  | 600 |  | euros |  | 3.10 | % |  |  |  | June 2028 |  | $ | 17 |  | (3) |
| 537 |  |  | 5.31 | % |  | 500 |  | euros |  | 3.85 | % |  |  |  | June 2034 |  | 15 |  | (2) |
Total notional amount | $ | 1,182 |  |  |  |  | 1,100 |  | euros |  |  |  |  |  |  |  | $ | 32 |  | (5) |
(a) Amounts are recorded in Other Income and expenses, net on the Consolidated Statement of Operations, which offsets an equal translation adjustment of the foreign denominated debt. See the Consolidated Statements of Comprehensive Income for amounts excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded.
Location and Fair Value of Derivatives Recognized in the Consolidated Balance Sheets | The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.
Derivative Assets |  | 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
Commodity Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 25 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 18 |  |  | $ | 1 |
Noncurrent |  | 57 |  |  | 26 |  |  | 31 |  |  | 31 |  |  | — |  |  | — |  |  | — |  |  | — |
Total Derivative Assets – Commodity Contracts |  | $ | 82 |  |  | $ | 27 |  |  | $ | 34 |  |  | $ | 32 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 18 |  |  | $ | 1 |
Interest Rate Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 31 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 17 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 5 |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 10 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | — |
Total Derivative Assets – Interest Rate Contracts |  | $ | 63 |  |  | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Foreign Currency Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noncurrent |  | 44 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Derivative Assets – Foreign Currency Contracts |  | $ | 44 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total Derivative Assets |  | $ | 189 |  |  | $ | 35 |  |  | $ | 34 |  |  | $ | 32 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 25 |  |  | $ | 1 |
Derivative Liabilities |  | 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
Commodity Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 354 |  |  | $ | 177 |  |  | $ | 138 |  |  | $ | 138 |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | 20 |
Noncurrent |  | 255 |  |  | 67 |  |  | 61 |  |  | 61 |  |  | — |  |  | — |  |  | — |  |  | 127 |
Total Derivative Liabilities – Commodity Contracts |  | $ | 609 |  |  | $ | 244 |  |  | $ | 199 |  |  | $ | 199 |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | 147 |
Interest Rate Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 25 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 26 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 13 |  |  | 2 |  |  | 11 |  |  | 11 |  |  | — |  |  | — |  |  | — |  |  | — |
Noncurrent |  | 39 |  |  | 14 |  |  | 24 |  |  | 9 |  |  | 15 |  |  | 1 |  |  | — |  |  | — |
Total Derivative Liabilities – Interest Rate Contracts |  | $ | 103 |  |  | $ | 16 |  |  | $ | 35 |  |  | $ | 20 |  |  | $ | 15 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |
Foreign Currency Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 17 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total Derivative Liabilities – Foreign Currency Contracts |  | $ | 17 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total Derivative Liabilities |  | $ | 729 |  |  | $ | 260 |  |  | $ | 234 |  |  | $ | 219 |  |  | $ | 15 |  |  | $ | 1 |  |  | $ | 18 |  |  | $ | 147 |
Derivative Assets |  | 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
Commodity Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 265 |  |  | $ | 132 |  |  | $ | 99 |  |  | $ | 99 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 29 |  |  | $ | — |
Noncurrent |  | 213 |  |  | 104 |  |  | 108 |  |  | 108 |  |  | — |  |  | — |  |  | — |  |  | — |
Total Derivative Assets – Commodity Contracts |  | $ | 478 |  |  | $ | 236 |  |  | $ | 207 |  |  | $ | 207 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 29 |  |  | $ | — |
Interest Rate Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 101 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 216 |  |  | $ | 94 |  |  | $ | 41 |  |  | $ | 23 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 81 |  |  | $ | — |
Total Derivative Assets – Interest Rate Contracts |  | $ | 317 |  |  | $ | 94 |  |  | $ | 41 |  |  | $ | 23 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 81 |  |  | $ | — |
Total Derivative Assets |  | $ | 795 |  |  | $ | 330 |  |  | $ | 248 |  |  | $ | 230 |  |  | $ | 17 |  |  | $ | 5 |  |  | $ | 110 |  |  | $ | — |
Derivative Liabilities |  | 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
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 175 |  |  | $ | 96 |  |  | $ | 36 |  |  | $ | 18 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 16 |  |  | $ | 27 |
Noncurrent |  | 202 |  |  | 31 |  |  | 30 |  |  | 30 |  |  | — |  |  | — |  |  | — |  |  | 141 |
Total Derivative Liabilities – Commodity Contracts |  | $ | 377 |  |  | $ | 127 |  |  | $ | 66 |  |  | $ | 48 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 16 |  |  | $ | 168 |
Interest Rate Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noncurrent |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |
Total Derivative Liabilities – Interest Rate Contracts |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Foreign Currency Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 18 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Noncurrent |  | 40 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Derivative Liabilities – Foreign Currency Contracts |  | $ | 58 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total Derivative Liabilities |  | $ | 437 |  |  | $ | 127 |  |  | $ | 66 |  |  | $ | 48 |  |  | $ | 19 |  |  | $ | 2 |  |  | $ | 16 |  |  | $ | 168 |
Offsetting Assets | The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.
Derivative Assets |  | 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
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 61 |  |  | $ | 6 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 18 |  |  | $ | 1 |
Offset |  | (2) |  |  | (1) |  |  | (1) |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Current Assets: Other |  | $ | 59 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 18 |  |  | $ | 1 |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 128 |  |  | $ | 29 |  |  | $ | 31 |  |  | $ | 31 |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Offset |  | (37) |  |  | (14) |  |  | (22) |  |  | (22) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Assets: Other |  | $ | 91 |  |  | $ | 15 |  |  | $ | 9 |  |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Derivative Assets |  | 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
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 582 |  |  | $ | 226 |  |  | $ | 140 |  |  | $ | 122 |  |  | $ | 17 |  |  | $ | 5 |  |  | $ | 110 |  |  | $ | — |
Offset |  | (33) |  |  | (15) |  |  | (18) |  |  | (18) |  |  | — |  |  | — |  |  | — |  |  | — |
Cash collateral received |  | (31) |  |  | (18) |  |  | (12) |  |  | (12) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Current Assets: Other |  | $ | 518 |  |  | $ | 193 |  |  | $ | 110 |  |  | $ | 92 |  |  | $ | 17 |  |  | $ | 5 |  |  | $ | 110 |  |  | $ | — |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 213 |  |  | $ | 104 |  |  | $ | 108 |  |  | $ | 108 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offset |  | (59) |  |  | (29) |  |  | (30) |  |  | (30) |  |  | — |  |  | — |  |  | — |  |  | — |
Cash collateral received |  | (38) |  |  | (11) |  |  | (27) |  |  | (27) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Assets: Other |  | $ | 116 |  |  | $ | 64 |  |  | $ | 51 |  |  | $ | 51 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting Liabilities |
Derivative Liabilities |  | 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
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 409 |  |  | $ | 179 |  |  | $ | 149 |  |  | $ | 149 |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | 20 |
Offset |  | (2) |  |  | (1) |  |  | (1) |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | — |
Cash collateral posted |  | (96) |  |  | (48) |  |  | (30) |  |  | (30) |  |  | — |  |  | — |  |  | (18) |  |  | — |
Net amounts presented in Current Liabilities: Other |  | $ | 311 |  |  | $ | 130 |  |  | $ | 118 |  |  | $ | 118 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 20 |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 320 |  |  | $ | 81 |  |  | $ | 85 |  |  | $ | 70 |  |  | $ | 15 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 127 |
Offset |  | (37) |  |  | (14) |  |  | (22) |  |  | (22) |  |  | — |  |  | — |  |  | — |  |  | — |
Cash collateral posted |  | (66) |  |  | (38) |  |  | (28) |  |  | (28) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Liabilities: Other |  | $ | 217 |  |  | $ | 29 |  |  | $ | 35 |  |  | $ | 20 |  |  | $ | 15 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 127 |
Derivative Liabilities |  | 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
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 193 |  |  | $ | 96 |  |  | $ | 36 |  |  | $ | 18 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 16 |  |  | $ | 27 |
Offset |  | (33) |  |  | (15) |  |  | (18) |  |  | (18) |  |  | — |  |  | — |  |  | — |  |  | — |
Cash collateral posted |  | (16) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (16) |  |  | — |
Net amounts presented in Current Liabilities: Other |  | $ | 144 |  |  | $ | 81 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 19 |  |  | $ | — |  |  | $ | — |  |  | $ | 27 |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 244 |  |  | $ | 31 |  |  | $ | 30 |  |  | $ | 30 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 141 |
Offset |  | (59) |  |  | (29) |  |  | (30) |  |  | (30) |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in Other Noncurrent Liabilities: Other |  | $ | 185 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 141 |
Derivative Contracts with Contingent Credit Features | The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit risk-related payment provisions.
| December 31, 2023
|  |  | Duke |  |  |  | Duke |  |  |  |  |
| Duke |  | Energy |  | Progress |  | Energy |  |  |  |  |
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  |  |  |  |
Aggregate fair value of derivatives in a net liability position | $ | 342 |  |  | $ | 175 |  |  | $ | 166 |  |  | $ | 166 |  |  |  |  |  |
Fair value of collateral already posted | 144 |  |  | 86 |  |  | 58 |  |  | 58 |  |  |  |  |  |
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered | 198 |  |  | 89 |  |  | 108 |  |  | 108 |  |  |  |  |  |
| December 31, 2022
|  |  | Duke |  |  |  | Duke |  | Duke
| Duke |  | Energy |  | Progress |  | Energy |  | Energy
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida
Aggregate fair value of derivatives in a net liability position | $ | 141 |  |  | $ | 86 |  |  | $ | 55 |  |  | $ | 48 |  |  | $ | 7 |
Fair value of collateral already posted | — |  |  | — |  |  | — |  |  | — |  |  | — |
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered | 141 |  |  | 86 |  |  | 55 |  |  | 48 |  |  | 7 |

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- Definition Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4J Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4K Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4L -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4L + Details
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