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Business Segments

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

Duke Energy

Duke Energy's segment structure includes the following two segments: EU&I and GU&I.

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.

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 NMC.

Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.

			Three Months Ended September 30, 2024
			Electric						Gas												Total
			Utilities and						Utilities and												Reportable
(in millions)			Infrastructure						Infrastructure												Segments						Other						Eliminations						Total
Unaffiliated revenues			$	7,833					$	309											$	8,142					$	12					$	—					$	8,154
Intersegment revenues			19						23												42						30						(72)						—
Total revenues			$	7,852					$	332											$	8,184					$	42					$	(72)					$	8,154
Segment income (loss)(a)(b)			$	1,451					$	(25)											$	1,426					$	(222)					$	—					$	1,204
Add: Noncontrolling interests																																							34
Add: Preferred dividends																																							39
Add: Preferred redemption costs																																							16
Discontinued operations																																							22
Net Income																																							$	1,315
Segment assets			$	161,471					$	17,852											$	179,323					$	4,243					$	—					$	183,566

			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)(c)			$	1,447					$	15											$	1,462					$	(59)					$	—					$	1,403
Add: Noncontrolling interests																																							69
Add: Preferred dividends																																							39
Discontinued operations																																							(190)
Net Loss																																							$	1,321

(a)EU&I includes $17 million recorded within Operating Revenues on the Condensed Consolidated Statements of Operations and GU&I includes $1 million recorded within Operations, maintenance and other and $3 million recorded within Other income and expenses on the Condensed Consolidated Statements of Operations related to nonrecurring customer billing adjustments as a result of implementation of a new customer system.

(b)Other includes $16 million recorded as Preferred Redemption Costs on the Condensed Consolidated Statements of Operations related to the redemption of Series B Preferred Stock. Refer to Note 15 for further information.

(c)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.

			Nine Months Ended September 30, 2024
			Electric						Gas												Total
			Utilities and						Utilities and												Reportable
(in millions)			Infrastructure						Infrastructure												Segments						Other						Eliminations						Total
Unaffiliated revenues			$	21,420					$	1,547											$	22,967					$	30					$	—					$	22,997
Intersegment revenues			55						68												123						90						(213)						—
Total revenues			$	21,475					$	1,615											$	23,090					$	120					$	(213)					$	22,997
Segment income (loss)(a)(b)			$	3,562					$	265											$	3,827					$	(625)					$	—					$	3,202
Add: Noncontrolling interests																																							68
Add: Preferred dividends																																							92
Add: Preferred redemption costs																																							16
Discontinued operations																																							9
Net Income																																							$	3,387

			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)(c)			$	3,088					$	327											$	3,415					$	(388)					$	—					$	3,027
Add: Noncontrolling interests																																							42
Add: Preferred dividends																																							92
Discontinued operations																																							(1,283)
Net Income																																							$	1,878

(a)EU&I includes $42 million recorded within Impairment of assets and other charges, $2 million within Operations, maintenance and other, and an $11 million reduction recorded within Interest Expense on Duke Energy Carolinas' and Duke Energy Progress' Condensed Consolidated Statement of Operations, related to the Duke Energy Carolinas' South Carolina rate case order. Additionally, EU&I includes $17 million recorded within Operating Revenues on the Condensed Consolidated Statements of Operations and GU&I includes $1 million recorded within Operations, maintenance and other and $3 million recorded within Other income and expenses on the Condensed Consolidated Statements of Operations related to nonrecurring customer billing adjustments as a result of implementation of a new customer system.

(b)Other includes $16 million recorded as Preferred Redemption Costs on the Condensed Consolidated Statements of Operations related to the redemption of Series B Preferred Stock. Refer to Note 15 for further information.

(c)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.

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, 2024
			Electric						Gas						Total
			Utilities and						Utilities and						Reportable
(in millions)			Infrastructure						Infrastructure						Segments						Other						Eliminations						Total
Total revenues			$	497					$	108					$	605					$	—					$	—					$	605
Segment income (loss)/Net income			$	57					$	(4)					$	53					$	(1)					$	—					$	52
Segment assets			$	8,096					$	4,456					$	12,552					$	13					$	46					$	12,611

			Three Months Ended September 30, 2023
			Electric						Gas						Total
			Utilities and						Utilities and						Reportable
(in millions)			Infrastructure						Infrastructure						Segments						Other												Total
Total revenues			$	472					$	105					$	577					$	—											$	577
Segment income (loss)/Net income			$	65					$	17					$	82					$	(2)											$	80

			Nine Months Ended September 30, 2024
			Electric						Gas						Total
			Utilities and						Utilities and						Reportable
(in millions)			Infrastructure						Infrastructure						Segments						Other												Total
Total revenues			$	1,431					$	460					$	1,891					$	—											$	1,891
Segment income (loss)/Net income			$	181					$	46					$	227					$	(4)											$	223

			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

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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