XML 149 R87.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Leases (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
Lease Costs and Cash Flows Information | The following tables present the components of lease expense.
| Year Ended 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
Operating lease expense(a) | $ | 275 |  |  | $ | 66 |  |  | $ | 173 |  |  | $ | 82 |  |  | $ | 91 |  |  | $ | 12 |  |  | $ | 23 |  |  | $ | 2 |
Short-term lease expense(a) | 7 |  |  | — |  |  | 3 |  |  | 1 |  |  | 2 |  |  | — |  |  | 1 |  |  | — |
Variable lease expense(a) | 33 |  |  | 2 |  |  | 29 |  |  | 19 |  |  | 10 |  |  | — |  |  | 1 |  |  | 1 |
Finance lease expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of leased assets(b) | 113 |  |  | 7 |  |  | 46 |  |  | 38 |  |  | 8 |  |  | — |  |  | — |  |  | — |
Interest on lease liabilities(c) | 41 |  |  | 31 |  |  | 44 |  |  | 41 |  |  | 3 |  |  | — |  |  | 1 |  |  | — |
Total finance lease expense | 154 |  |  | 38 |  |  | 90 |  |  | 79 |  |  | 11 |  |  | — |  |  | 1 |  |  | — |
Total lease expense | $ | 469 |  |  | $ | 106 |  |  | $ | 295 |  |  | $ | 181 |  |  | $ | 114 |  |  | $ | 12 |  |  | $ | 26 |  |  | $ | 3 |
| Year Ended 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
Operating lease expense(a) | $ | 236 |  |  | $ | 41 |  |  | $ | 157 |  |  | $ | 80 |  |  | $ | 77 |  |  | $ | 11 |  |  | $ | 17 |  |  | $ | 2 |
Short-term lease expense(a) | 5 |  |  | — |  |  | 2 |  |  | 1 |  |  | 1 |  |  | — |  |  | 1 |  |  | — |
Variable lease expense(a) | 27 |  |  | 2 |  |  | 22 |  |  | 11 |  |  | 11 |  |  | — |  |  | — |  |  | 1 |
Finance lease expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of leased assets(b) | 160 |  |  | 7 |  |  | 57 |  |  | 35 |  |  | 22 |  |  | — |  |  | — |  |  | — |
Interest on lease liabilities(c) | 46 |  |  | 31 |  |  | 45 |  |  | 43 |  |  | 2 |  |  | — |  |  | 1 |  |  | — |
Total finance lease expense | 206 |  |  | 38 |  |  | 102 |  |  | 78 |  |  | 24 |  |  | — |  |  | 1 |  |  | — |
Total lease expense | $ | 474 |  |  | $ | 81 |  |  | $ | 283 |  |  | $ | 170 |  |  | $ | 113 |  |  | $ | 11 |  |  | $ | 19 |  |  | $ | 3 |
(a) Included in Operations, maintenance and other, except for expense related to barges and railcars which is included in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. (b) Included in Depreciation and amortization on the Consolidated Statements of Operations. (c) Included in Interest Expense on the Consolidated Statements of Operations.
| Year Ended 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
Cash paid for amounts included in the measurement of lease liabilities(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 250 |  |  | $ | 24 |  |  | $ | 122 |  |  | $ | 57 |  |  | $ | 65 |  |  | $ | 1 |  |  | $ | 8 |  |  | $ | 1 |
Operating cash flows from finance leases | 41 |  |  | 31 |  |  | 44 |  |  | 41 |  |  | 3 |  |  | — |  |  | 1 |  |  | — |
Financing cash flows from finance leases | 113 |  |  | 7 |  |  | 46 |  |  | 38 |  |  | 8 |  |  | — |  |  | — |  |  | — |
Lease assets obtained in exchange for new lease liabilities (non-cash) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | $ | 322 |  |  | $ | 50 |  |  | $ | 43 |  |  | $ | 3 |  |  | $ | 40 |  |  | $ | — |  |  | $ | 7 |  |  | $ | 3 |
Finance | 81 |  |  | 1 |  |  | 55 |  |  | — |  |  | 55 |  |  | — |  |  | 1 |  |  | — |
| Year Ended 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
Cash paid for amounts included in the measurement of lease liabilities(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 228 |  |  | $ | 18 |  |  | $ | 123 |  |  | $ | 64 |  |  | $ | 59 |  |  | $ | 2 |  |  | $ | 7 |  |  | $ | — |
Operating cash flows from finance leases | 46 |  |  | 31 |  |  | 45 |  |  | 43 |  |  | 2 |  |  | — |  |  | 1 |  |  | — |
Financing cash flows from finance leases | 160 |  |  | 7 |  |  | 57 |  |  | 35 |  |  | 22 |  |  | — |  |  | — |  |  | — |
Lease assets obtained in exchange for new lease liabilities (non-cash) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | $ | 286 |  |  | $ | 14 |  |  | $ | 92 |  |  | $ | 1 |  |  | $ | 91 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 2 |
Finance | 36 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
(a) No amounts were classified as investing cash flows from operating leases.
Operating Lease Maturities | The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities.
| 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
2025 | $ | 256 |  |  | $ | 24 |  |  | $ | 121 |  |  | $ | 55 |  |  | $ | 66 |  |  | $ | 1 |  |  | $ | 7 |  |  | $ | 5 |
2026 | 241 |  |  | 21 |  |  | 124 |  |  | 59 |  |  | 65 |  |  | 1 |  |  | 7 |  |  | 1 |
2027 | 191 |  |  | 14 |  |  | 97 |  |  | 60 |  |  | 37 |  |  | 1 |  |  | 5 |  |  | 1 |
2028 | 153 |  |  | 11 |  |  | 82 |  |  | 59 |  |  | 23 |  |  | 1 |  |  | 3 |  |  | 1 |
2029 | 120 |  |  | 10 |  |  | 74 |  |  | 52 |  |  | 22 |  |  | 1 |  |  | 3 |  |  | — |
Thereafter | 458 |  |  | 53 |  |  | 307 |  |  | 156 |  |  | 151 |  |  | 4 |  |  | 24 |  |  | — |
Total operating lease payments | 1,419 |  |  | 133 |  |  | 805 |  |  | 441 |  |  | 364 |  |  | 9 |  |  | 49 |  |  | 8 |
Less: Present value discount | (254) |  |  | (26) |  |  | (151) |  |  | (67) |  |  | (84) |  |  | (2) |  |  | (10) |  |  | — |
Total operating lease liabilities(a) | $ | 1,165 |  |  | $ | 107 |  |  | $ | 654 |  |  | $ | 374 |  |  | $ | 280 |  |  | $ | 7 |  |  | $ | 39 |  |  | $ | 8 |
(a) Certain operating lease payments include renewal options that are reasonably certain to be exercised.
Maturities of Finance Lease Liabilities | The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities.
| December 31, 2024
|  |  | Duke |  |  |  | Duke |  | Duke |  |  |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  |  |  | Energy |  |
(in millions) | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  |  |  | Indiana |  |
2025 | $ | 86 |  |  | $ | 38 |  |  | $ | 91 |  |  | $ | 80 |  |  | $ | 11 |  |  |  |  | $ | 1 |  |  |
2026 | 87 |  |  | 38 |  |  | 92 |  |  | 81 |  |  | 11 |  |  |  |  | 1 |  |  |
2027 | 82 |  |  | 38 |  |  | 89 |  |  | 81 |  |  | 8 |  |  |  |  | 1 |  |  |
2028 | 79 |  |  | 38 |  |  | 87 |  |  | 81 |  |  | 6 |  |  |  |  | 1 |  |  |
2029 | 79 |  |  | 38 |  |  | 88 |  |  | 81 |  |  | 7 |  |  |  |  | 1 |  |  |
Thereafter | 489 |  |  | 351 |  |  | 444 |  |  | 393 |  |  | 51 |  |  |  |  | 21 |  |  |
Total finance lease payments | 902 |  |  | 541 |  |  | 891 |  |  | 797 |  |  | 94 |  |  |  |  | 26 |  |  |
Less: Amounts representing interest | (332) |  |  | (271) |  |  | (310) |  |  | (282) |  |  | (28) |  |  |  |  | (16) |  |  |
Total finance lease liabilities | $ | 570 |  |  | $ | 270 |  |  | $ | 581 |  |  | $ | 515 |  |  | $ | 66 |  |  |  |  | $ | 10 |  |  |
Balance Sheet Amounts Recorded for Operating and Finance Leases | The following tables contain additional information related to leases.
|  | December 31, 2024
|  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
|  | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | Classification | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | Operating lease ROU assets, net | $ | 1,148 |  |  | $ | 98 |  |  | $ | 625 |  |  | $ | 348 |  |  | $ | 277 |  |  | $ | 6 |  |  | $ | 37 |  |  | $ | 4 |
Finance | Net property, plant and equipment | 645 |  |  | 252 |  |  | 620 |  |  | 512 |  |  | 108 |  |  | — |  |  | 6 |  |  | — |
Total lease assets |  | $ | 1,793 |  |  | $ | 350 |  |  | $ | 1,245 |  |  | $ | 860 |  |  | $ | 385 |  |  | $ | 6 |  |  | $ | 43 |  |  | $ | 4 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | Other current liabilities | $ | 208 |  |  | $ | 20 |  |  | $ | 97 |  |  | $ | 42 |  |  | $ | 55 |  |  | $ | 1 |  |  | $ | 6 |  |  | $ | 1 |
Finance | Current maturities of long-term debt | 46 |  |  | 8 |  |  | 48 |  |  | 41 |  |  | 7 |  |  | — |  |  | — |  |  | — |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | Operating lease liabilities | 957 |  |  | 87 |  |  | 557 |  |  | 332 |  |  | 225 |  |  | 6 |  |  | 33 |  |  | 7 |
Finance | Long-Term Debt | 524 |  |  | 262 |  |  | 533 |  |  | 474 |  |  | 59 |  |  | — |  |  | 10 |  |  | — |
Total lease liabilities |  | $ | 1,735 |  |  | $ | 377 |  |  | $ | 1,235 |  |  | $ | 889 |  |  | $ | 346 |  |  | $ | 7 |  |  | $ | 49 |  |  | $ | 8 |
|  | December 31, 2023
|  |  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
|  | Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
(in millions) | Classification | Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | Operating lease ROU assets, net | $ | 1,092 |  |  | $ | 78 |  |  | $ | 617 |  |  | $ | 318 |  |  | $ | 299 |  |  | $ | 16 |  |  | $ | 50 |  |  | $ | 4 |
Finance | Net property, plant and equipment | 687 |  |  | 268 |  |  | 615 |  |  | 552 |  |  | 63 |  |  | — |  |  | 6 |  |  | — |
Total lease assets |  | $ | 1,779 |  |  | $ | 346 |  |  | $ | 1,232 |  |  | $ | 870 |  |  | $ | 362 |  |  | $ | 16 |  |  | $ | 56 |  |  | $ | 4 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | Other current liabilities | $ | 188 |  |  | $ | 15 |  |  | $ | 94 |  |  | $ | 45 |  |  | $ | 49 |  |  | $ | 1 |  |  | $ | 6 |  |  | $ | — |
Finance | Current maturities of long-term debt | 115 |  |  | 8 |  |  | 46 |  |  | 38 |  |  | 8 |  |  | — |  |  | — |  |  | — |
Noncurrent |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating | Operating lease liabilities | 917 |  |  | 75 |  |  | 544 |  |  | 293 |  |  | 251 |  |  | 16 |  |  | 46 |  |  | 10 |
Finance | Long-Term Debt | 524 |  |  | 269 |  |  | 525 |  |  | 514 |  |  | 11 |  |  | — |  |  | 9 |  |  | — |
Total lease liabilities |  | $ | 1,744 |  |  | $ | 367 |  |  | $ | 1,209 |  |  | $ | 890 |  |  | $ | 319 |  |  | $ | 17 |  |  | $ | 61 |  |  | $ | 10 |
Supplemental Lease Information |
| December 31, 2024
|  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
| Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Weighted average remaining lease term (years) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating leases | 8 |  | 9 |  | 9 |  | 8 |  | 11 |  | 11 |  | 11 |  | 4
Finance leases | 11 |  | 15 |  | 11 |  | 10 |  | 15 |  | — |  |  | 20 |  | — |
Weighted average discount rate(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating leases | 4.3 | % |  | 4.3 | % |  | 4.0 | % |  | 3.9 | % |  | 4.2 | % |  | 4.1 | % |  | 4.0 | % |  | 3.9 | %
Finance leases | 8.4 | % |  | 11.5 | % |  | 8.9 | % |  | 9.2 | % |  | 5.9 | % |  | — | % |  | 11.7 | % |  | — | %
| December 31, 2023
|  |  | Duke |  |  |  | Duke |  | Duke |  | Duke |  | Duke |  |
| Duke |  | Energy |  | Progress |  | Energy |  | Energy |  | Energy |  | Energy |  |
| Energy |  | Carolinas |  | Energy |  | Progress |  | Florida |  | Ohio |  | Indiana |  | Piedmont
Weighted average remaining lease term (years) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating leases | 9 |  | 10 |  | 10 |  | 9 |  | 11 |  | 13 |  | 13 |  | 4
Finance leases | 11 |  | 16 |  | 11 |  | 11 |  | 18 |  | — |  |  | 22 |  | 3
Weighted average discount rate(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating leases | 3.1 | % |  | 4.0 | % |  | 3.8 | % |  | 3.6 | % |  | 4.0 | % |  | 4.2 | % |  | 3.9 | % |  | 2.4 | %
Finance leases | 8.5 | % |  | 11.5 | % |  | 9.1 | % |  | 9.2 | % |  | 7.6 | % |  | — | % |  | 11.9 | % |  | 5.4 | %
(a) The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets.

X
- Definition Assets And Liabilities, Lessee [Table Text Block] + References No definition available. + Details
Name: | duk_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix: | duk_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Lessee, Lease, Supplemental Information [Table Text Block] + References No definition available. + Details
Name: | duk_LesseeLeaseSupplementalInformationTableTextBlock
Namespace Prefix: | duk_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration