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Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2024

VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.

			Duke Energy
									Duke Energy						Duke Energy						Duke Energy
									Carolinas						Progress						Florida
(in millions)			CRC						DERF						DEPR						DEFR
Expiration date			(a)						January 2025						April 2025						(b)
Credit facility amount			(a)						$	500					$	400					(b)
Amounts borrowed at September 30, 2024			—						500						400						—
Amounts borrowed at December 31, 2023			312						500						400						325
Restricted Receivables at September 30, 2024			—						1,149						822						—
Restricted Receivables at December 31, 2023			663						991						833						532

(a)    In March 2024, Duke Energy repaid all outstanding CRC borrowings and terminated the related $350 million CRC credit facility.

(b)    In April 2024, Duke Energy Florida repaid all outstanding DEFR borrowings and terminated the related $325 million DEFR credit facility.

VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets.

			September 30, 2024
			Duke Energy																								Duke						Duke
			Natural Gas																								Energy						Energy
(in millions)			Investments																								Ohio						Indiana
Receivables from affiliated companies			$	—																							$	—					$	—
Investments in equity method unconsolidated affiliates			55																								—						—
Other noncurrent assets			30																								—						—
Total assets			$	85																							$	—					$	—
Other current liabilities			4																								—						—
Other noncurrent liabilities			1																								—						—
Total liabilities			$	5																							$	—					$	—
Net assets			$	80																							$	—					$	—

			December 31, 2023
			Duke Energy																								Duke						Duke
			Natural Gas																								Energy						Energy
(in millions)			Investments																								Ohio						Indiana
Receivables from affiliated companies			$	—																							$	150					$	208
Investments in equity method unconsolidated affiliates			67																								—						—
Other noncurrent assets			43																								—						—
Total assets			$	110																							$	150					$	208
Other current liabilities			4																								—						—
Other noncurrent liabilities			5																								—						—
Total liabilities			$	9																							$	—					$	—
Net assets			$	101																							$	150					$	208

DEFPF | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets.

(in millions)			September 30, 2024			December 31, 2023
Regulatory Assets: Current			60			59
Current Assets: Other			18			37
Other Noncurrent Assets: Regulatory assets			754			803
Current Liabilities: Other			2			8
Current maturities of long-term debt			59			59
Long-Term Debt			772			831

DECNCSF and DEPNCSF | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the impact of these VIEs on Duke Energy Carolinas’ and Duke Energy Progress’ Consolidated Balance Sheets.

			September 30, 2024															December 31, 2023
			Duke Energy						Duke Energy									Duke Energy						Duke Energy
			Carolinas						Progress									Carolinas						Progress
(in millions)			DECNCSF						DEPNCSF			DEPSCSF						DECNCSF						DEPNCSF
Regulatory Assets: Current			$	12					$	39		$	8					$	12					$	39
Current Assets: Other			6						19			8						9						31
Other Noncurrent Assets: Regulatory assets			188						617			157						196						643
Other Noncurrent Assets: Other			1						4			1						1						2
Current Liabilities: Other			1						4			4						10						34
Current Maturities of Long-Term Debt			10						34			9						3						8
Long-Term Debt			198						646			163						208						680

CRC | VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table shows the gross and net receivables sold. See discussion under Consolidated VIEs for additional information related to CRC's termination in March 2024.

			Duke Energy Ohio												Duke Energy Indiana
(in millions)			September 30, 2024						December 31, 2023						September 30, 2024						December 31, 2023
Receivables sold			$	—					$	361					$	—					$	351
Less: Retained interests			—						150						—						208
Net receivables sold			$	—					$	211					$	—					$	143

The following table shows sales and cash flows related to receivables sold and reflects CRC activity prior to its termination in March 2024.

															Duke Energy Ohio																					Duke Energy Indiana
									Nine Months Ended																		Nine Months Ended
									September 30,																		September 30,
(in millions)															2024						2023																		2024						2023
Sales
Receivables sold															$	474					$	1,973																	$	473					$	2,646
Loss recognized on sale															7						25																		6						15
Cash flows
Cash proceeds from receivables sold															$	478					$	2,024																	$	523					$	2,465
Collection fees received															—						1																		—						1
Return received on retained interests															4						15																		4						9

DEF ProCo | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the impact of this VIE on Duke Energy Florida's Consolidated Balance Sheets.

(in millions)			September 30, 2024			December 31, 2023
Inventory			$	477		$	462
Accounts Payable			199			188

X

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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