XML 144 R82.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
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, 2024, or 2023.
|  |  | December 31,
(in millions) | Location |  | 2024 |  | 2023
Duke Energy Carolinas |  |  |  |  |
Accrued compensation | Current Liabilities |  | $ | 234 |  |  | $ | 224 |
Duke Energy Florida |  |  |  |  |
Tax receivables | Current Assets |  | $ | 166 |  |  | $ | 12 |
Customer deposits/Collateral liabilities | Current Liabilities |  | $ | 164 |  |  | $ | 168 |
Duke Energy Ohio |  |  |  |  |
Tax receivables | Current Assets |  | $ | 4 |  |  | 95 |
Duke Energy Indiana |  |  |  |  |
Customer advances | Current Liabilities |  | $ | 100 |  |  | $ | 87 |
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, 2024 |  | December 31, 2023
|  | Duke |  | Duke | Duke |  |  | Duke |  | Duke | Duke
| Duke | Energy | Progress | Energy | Energy |  | Duke | Energy | Progress | Energy | Energy
(in millions) | Energy | Carolinas | Energy | Progress | Florida |  | Energy | Carolinas | Energy | Progress | Florida
Current Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 314 |  | $ | 6 |  | $ | 73 |  | $ | 24 |  | $ | 33 |  |  | $ | 253 |  | $ | 9 |  | $ | 59 |  | $ | 18 |  | $ | 24 |
Other | 84 |  | 9 |  | 76 |  | 40 |  | 35 |  |  | 76 |  | 9 |  | 67 |  | 31 |  | 36 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |  |  |
Other | 20 |  | 1 |  | 11 |  | 5 |  | 7 |  |  | 16 |  | 1 |  | 9 |  | 2 |  | 7 |
Total cash, cash equivalents and restricted cash | $ | 418 |  | $ | 16 |  | $ | 160 |  | $ | 69 |  | $ | 75 |  |  | $ | 345 |  | $ | 19 |  | $ | 135 |  | $ | 51 |  | $ | 67 |
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, 2024 |  | December 31, 2023
|  | Duke |  | Duke | Duke |  |  | Duke |  | Duke | Duke
| Duke | Energy | Progress | Energy | Energy |  | Duke | Energy | Progress | Energy | Energy
(in millions) | Energy | Carolinas | Energy | Progress | Florida |  | Energy | Carolinas | Energy | Progress | Florida
Current Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 314 |  | $ | 6 |  | $ | 73 |  | $ | 24 |  | $ | 33 |  |  | $ | 253 |  | $ | 9 |  | $ | 59 |  | $ | 18 |  | $ | 24 |
Other | 84 |  | 9 |  | 76 |  | 40 |  | 35 |  |  | 76 |  | 9 |  | 67 |  | 31 |  | 36 |
Other Noncurrent Assets |  |  |  |  |  |  |  |  |  |  |
Other | 20 |  | 1 |  | 11 |  | 5 |  | 7 |  |  | 16 |  | 1 |  | 9 |  | 2 |  | 7 |
Total cash, cash equivalents and restricted cash | $ | 418 |  | $ | 16 |  | $ | 160 |  | $ | 69 |  | $ | 75 |  |  | $ | 345 |  | $ | 19 |  | $ | 135 |  | $ | 51 |  | $ | 67 |
Components of Inventory | The components of inventory are presented in the tables below.
| December 31, 2024
|  |  | 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 | $ | 3,387 |  |  | $ | 1,150 |  |  | $ | 1,649 |  |  | $ | 1,074 |  |  | $ | 576 |  |  | $ | 149 |  |  | $ | 389 |  |  | $ | 11 |
Coal | 801 |  |  | 341 |  |  | 241 |  |  | 164 |  |  | 77 |  |  | 23 |  |  | 196 |  |  | — |
Natural gas, oil and other | 321 |  |  | 45 |  |  | 196 |  |  | 103 |  |  | 92 |  |  | 11 |  |  | 1 |  |  | 67 |
Total inventory | $ | 4,509 |  |  | $ | 1,536 |  |  | $ | 2,086 |  |  | $ | 1,341 |  |  | $ | 745 |  |  | $ | 183 |  |  | $ | 586 |  |  | $ | 78 |
| 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 |
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,
| 2024 |  | 2023 |  | 2022
Duke Energy | 3.0 | % |  | 2.9 | % |  | 3.0 | %
Duke Energy Carolinas | 3.1 | % |  | 2.7 | % |  | 2.7 | %
Progress Energy | 3.3 | % |  | 3.3 | % |  | 3.2 | %
Duke Energy Progress | 3.2 | % |  | 3.1 | % |  | 3.0 | %
Duke Energy Florida | 3.5 | % |  | 3.5 | % |  | 3.5 | %
Duke Energy Ohio | 2.9 | % |  | 2.8 | % |  | 2.9 | %
Duke Energy Indiana | 3.6 | % |  | 3.6 | % |  | 3.6 | %
Piedmont | 2.2 | % |  | 2.1 | % |  | 2.1 | %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
| December 31, 2024
| 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 |  |  | $ | 2,569 |  |  | $ | 617 |  |  | $ | 1,134 |  |  | $ | 535 |  |  | $ | 599 |  |  | $ | 258 |  |  | $ | 144 |  |  | $ | 391 |
Plant – Regulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric generation, distribution and transmission | 37 |  | 137,836 |  |  | 49,547 |  |  | 62,351 |  |  | 35,633 |  |  | 26,718 |  |  | 7,634 |  |  | 18,304 |  |  | — |
Natural gas transmission and distribution | 58 |  | 15,333 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,255 |  |  | — |  |  | 11,078 |
Other buildings and improvements | 41 |  | 2,982 |  |  | 1,256 |  |  | 698 |  |  | 391 |  |  | 307 |  |  | 418 |  |  | 372 |  |  | 238 |
Nuclear fuel |  |  | 3,518 |  |  | 2,003 |  |  | 1,515 |  |  | 1,515 |  |  | — |  |  | — |  |  | — |  |  | — |
Equipment | 13 |  | 3,863 |  |  | 997 |  |  | 1,252 |  |  | 753 |  |  | 499 |  |  | 542 |  |  | 490 |  |  | 170 |
Construction in process |  |  | 7,850 |  |  | 2,735 |  |  | 3,657 |  |  | 1,884 |  |  | 1,773 |  |  | 385 |  |  | 406 |  |  | 405 |
Other | 10 |  | 6,855 |  |  | 1,227 |  |  | 1,953 |  |  | 1,349 |  |  | 594 |  |  | 426 |  |  | 254 |  |  | 498 |
Total property, plant and equipment(a) |  |  | 180,806 |  |  | 58,382 |  |  | 72,560 |  |  | 42,060 |  |  | 30,490 |  |  | 13,918 |  |  | 19,970 |  |  | 12,780 |
Total accumulated depreciation – regulated(b)(c) |  |  | (55,535) |  |  | (19,090) |  |  | (23,586) |  |  | (15,930) |  |  | (7,650) |  |  | (3,674) |  |  | (6,848) |  |  | (2,432) |
Total accumulated depreciation – other(d) |  |  | (1,968) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total net property, plant and equipment |  |  | $ | 123,303 |  |  | $ | 39,292 |  |  | $ | 48,974 |  |  | $ | 26,130 |  |  | $ | 22,840 |  |  | $ | 10,244 |  |  | $ | 13,122 |  |  | $ | 10,348 |
(a) Includes finance leases of $670 million, $336 million, $620 million, $512 million, $108 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 and Duke Energy Progress amounts are net of $159 million of accumulated amortization of finance leases. (b) Includes $1,824 million, $1,010 million, $814 million and $814 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 $84 million and $4 million at Duke Energy Carolinas and Duke Energy Indiana, respectively. (d) Includes accumulated amortization of finance leases of $25 million at Duke Energy.
| 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 |  | 6,922 |  |  | 1,455 |  |  | 2,037 |  |  | 1,481 |  |  | 548 |  |  | 410 |  |  | 344 |  |  | 365 |
Total property, plant and equipment(a) |  |  | 171,353 |  |  | 56,670 |  |  | 67,644 |  |  | 39,283 |  |  | 28,353 |  |  | 13,210 |  |  | 18,900 |  |  | 11,908 |
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) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
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.
Schedule of Accounts Payable and Supplier Invoices Sold | The following table presents the amounts included within Accounts payable on the Consolidated Balance Sheets 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, 2024, and December 31, 2023.
| For the Years Ended December 31, 2023 and 2024 |  |
|  | 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, 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 |  |  |  |  |  |  |
Invoices confirmed during the period | 156 |  | — |  | 4 |  | — |  | 4 |  | — |  | — |  | 152 |  |  |  |  |  |  |
Confirmed invoices paid during the period | (193) |  | — |  | (6) |  | — |  | (6) |  | — |  | — |  | (187) |  |  |  |  |  |  |
Confirmed obligations outstanding at December 31, 2024 | $ | 13 |  | $ | — |  | $ | 1 |  | $ | — |  | $ | 1 |  | $ | — |  | $ | — |  | $ | 12 |  |  |  |  |  |  |
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) | 2024 |  | 2023 |  | 2022
Duke Energy | $ | 423 |  |  | $ | 458 |  |  | $ | 449 |
Duke Energy Carolinas | 31 |  |  | 27 |  |  | 47 |
Progress Energy | 285 |  |  | 322 |  |  | 290 |
Duke Energy Progress | 9 |  |  | 5 |  |  | 25 |
Duke Energy Florida | 276 |  |  | 317 |  |  | 265 |
Duke Energy Ohio | 105 |  |  | 106 |  |  | 104 |
Duke Energy Indiana | — |  |  | 1 |  |  | 7 |
Piedmont | 2 |  |  | 2 |  |  | 1 |

X
- Definition Schedule of Accounts Payable and Supplier Invoices Sold + References No definition available. + Details
Name: | duk_ScheduleOfAccountsPayableAndSupplierInvoicesSoldTableTextBlock
Namespace Prefix: | duk_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of other current and noncurrent assets and liabilities that exceed 5% threshold but are not disclosed on the face of the balance sheet. + References No definition available. + Details
Name: | duk_ScheduleOfCurrentAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | duk_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of excise taxes accounted for on a gross basis during the reporting period. + References No definition available. + Details
Name: | duk_ScheduleOfExciseTaxesTableTextBlock
Namespace Prefix: | duk_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of cash and cash equivalents. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of public utility physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation expense and method used, including composite depreciation, and accumulated depreciation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 980 -SubTopic 20 -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481834/980-20-45-1 + Details
Name: | us-gaap_ScheduleOfPublicUtilityPropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 8 -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8 + Details
Name: | us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all information related to inventories for utilities. + References No definition available. + Details
Name: | us-gaap_ScheduleOfUtilityInventoryTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration