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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2024

Defined Benefit Plan Disclosure [Line Items]

Pension Plan Contributions

The following table includes information related to the Duke Energy Registrants’ contributions to its qualified defined benefit pension plans.

									Duke												Duke						Duke						Duke						Duke
			Duke						Energy						Progress						Energy						Energy						Energy						Energy
(in millions)			Energy						Carolinas						Energy						Progress						Florida						Ohio						Indiana						Piedmont
Contributions Made:
2024			$	100					$	26					$	23					$	14					$	9					$	5					$	8					$	3
2023			100						26						22						13						9						5						8						3
2022			58						15						13						8						5						3						5						2

Fair Value and Allocation of Plan Assets

The following table includes the target asset allocations by asset class at December 31, 2024, and the actual asset allocations for the RCBP assets.

									Actual Allocation at
			Target						December 31,
			Allocation						2024						2023
Global equity securities			45		%				44		%				45		%
Global private equity securities			2		%				1		%				2		%
Debt securities			35		%				33		%				35		%
Return seeking debt securities			7		%				7		%				6		%
Hedge funds			4		%				5		%				4		%
Real estate and cash			7		%				10		%				8		%
Total			100		%				100		%				100		%

The following table includes the target asset allocations by asset class at December 31, 2024, and the actual asset allocations for the DELPP assets.

									Actual Allocation at
			Target						December 31,
			Allocation						2024						2023
Global equity securities			14		%				15		%				14		%
Global private equity securities			1		%				—		%				—		%
Debt securities			80		%				79		%				79		%
Return seeking debt securities			2		%				2		%				2		%
Hedge funds			1		%				—		%				2		%
Real estate and cash			2		%				4		%				3		%
Total			100		%				100		%				100		%

The following table presents target and actual asset allocations for the VEBA trusts at December 31, 2024.

									Actual Allocation at
			Target						December 31,
			Allocation						2024						2023
U.S. equity securities			29		%				34		%				30		%
Non-U.S. equity securities			15		%				15		%				15		%
Real estate			5		%				7		%				7		%
Debt securities			47		%				31		%				30		%
Cash			4		%				13		%				18		%
Total			100		%				100		%				100		%

The following tables provide the fair value measurement amounts for the Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets.

			December 31, 2024
			Total Fair																								Not
(in millions)			Value						Level 1						Level 2						Level 3						Categorized(b)
Equity securities			$	2,461					$	2,216					$	231					$	—					$	14
Corporate debt securities			2,415						—						2,415						—						—
Short-term investment funds			310						—						310						—						—
Partnership interests			68						—						—						68						—
Hedge funds			164						—						—						—						164
U.S. government securities			1,398						—						1,398						—						—
Governments bonds – foreign			128						—						128						—						—
Cash			15						15						—						—						—
Government and commercial mortgage-backed securities			1						—						1						—						—
Net pending transactions and other investments			9						11						(2)						—						—
Total assets(a)			$	6,969					$	2,242					$	4,481					$	68					$	178

(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2024. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.

(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.

			December 31, 2023
			Total Fair																								Not
(in millions)			Value						Level 1						Level 2						Level 3						Categorized(b)
Equity securities			$	2,221					$	1,995					$	211					$	—					$	15
Corporate debt securities			2,807						—						2,807						—						—
Short-term investment funds			233						—						233						—						—
Partnership interests			76						—						—						76						—
Hedge funds			164						—						—						—						164
U.S. government securities			1,571						—						1,571						—						—
Governments bonds – foreign			107						—						107						—						—
Cash			7						7						—						—						—
Government and commercial mortgage-backed securities			1						—						1						—						—
Net pending transactions and other investments			54						40						14						—						—
Total assets(a)			$	7,241					$	2,042					$	4,944					$	76					$	179

(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2023. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.

(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.

The following tables provide the fair value measurement amounts for VEBA trust assets.

			December 31, 2024
			Total Fair
(in millions)			Value												Level 2
Cash and cash equivalents			$	3											$	3
Real estate			1												1
Equity securities			10												10
Debt securities			6												6
Total assets			$	20											$	20

			December 31, 2023
			Total Fair
(in millions)			Value												Level 2
Cash and cash equivalents			$	4											$	4
Real estate			1												1
Equity securities			9												9
Debt securities			6												6
Total assets			$	20											$	20

Master Trust Level 3 Rollforward

The following table provides a reconciliation of beginning and ending balances of Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3).

(in millions)			2024						2023
Balance at January 1			$	76					$	62
Sales			(10)						(8)
Total gains and other, net			2						22
Balance at December 31			$	68					$	76

Employee Savings Plan Matching Contributions

The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.

									Duke												Duke						Duke						Duke						Duke
			Duke						Energy						Progress						Energy						Energy						Energy						Energy
(in millions)			Energy						Carolinas						Energy						Progress						Florida						Ohio						Indiana						Piedmont
Years ended December 31,
2024			$	257					$	81					$	72					$	43					$	29					$	6					$	13					$	14
2023			238						75						62						40						22						6						13						13
2022			246						76						65						43						22						6						12						13

Pension Plan

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Pension Costs

Components of Net Periodic Pension Costs

			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
Service cost			$	114					$	37					$	32					$	19					$	13					$	3					$	6					$	4
Interest cost on projected benefit obligation			325						78						103						47						56						17						26						9
Expected return on plan assets			(613)						(161)						(217)						(99)						(116)						(25)						(42)						(20)
Amortization of actuarial loss			36						8						10						6						5						1						4						3
Amortization of prior service credit			(13)						(1)						—						—						—						—						(2)						(7)
Amortization of settlement charges(c)			32						12						10						9						2						2						2						5
Net periodic pension costs(a)(b)			$	(119)					$	(27)					$	(62)					$	(18)					$	(40)					$	(2)					$	(6)					$	(6)

			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
Service cost			$	117					$	38					$	33					$	19					$	13					$	3					$	6					$	4
Interest cost on projected benefit obligation			344						84						107						49						57						18						27						9
Expected return on plan assets			(588)						(160)						(198)						(93)						(104)						(24)						(40)						(20)
Amortization of actuarial loss			10						2						4						2						2						—						2						—
Amortization of prior service credit			(14)						(1)						—						—						—						—						(2)						(7)
Amortization of settlement charges			19						9						5						3						1						—						1						4
Net periodic pension costs(a)(b)			$	(112)					$	(28)					$	(49)					$	(20)					$	(31)					$	(3)					$	(6)					$	(10)

			Year Ended 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
Service cost			$	152					$	48					$	43					$	25					$	17					$	4					$	9					$	5
Interest cost on projected benefit obligation			249						59						77						35						41						13						20						8
Expected return on plan assets			(558)						(152)						(183)						(88)						(94)						(23)						(37)						(24)
Amortization of actuarial loss			81						16						23						12						12						4						9						5
Amortization of prior service credit			(18)						(3)						—						—						—						—						(2)						(7)
Amortization of settlement charges(c)			32						9						8						7						1						5						1						7
MRVA method change			24						—						24						—						24						—						—						—
Net periodic pension costs(a)(b)			$	(38)					$	(23)					$	(8)					$	(9)					$	1					$	3					$	—					$	(6)

(a)    Duke Energy amounts exclude $2 million, $3 million and $3 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.

(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.

(c)    Includes settlement charges not deferred as a regulatory asset.

Amounts Recognized in AOCI and Regulatory Assets and Liabilities

Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets

			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
Regulatory assets, net increase			$	147					$	39					$	33					$	1					$	31					$	11					$	6					$	16
Accumulated other comprehensive loss (income)
Deferred income tax benefit			$	3					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Amortization of prior year service credit			1						—						—						—						—						—						—						—
Amortization of prior year actuarial losses			(12)						—						1						—						—						—						(2)						—
Net amount recognized in accumulated other comprehensive income			$	(8)					$	—					$	1					$	—					$	—					$	—					$	(2)					$	—

			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
Regulatory assets, net increase (decrease)			$	5					$	(14)					$	8					$	—					$	9					$	(3)					$	(2)					$	13
Accumulated other comprehensive loss (income)
Amortization of prior year actuarial losses			(2)						—						—						—						—						—						—						—
Net amount recognized in accumulated other comprehensive income			$	(2)					$	—					$	—					$	—					$	—					$	—					$	—					$	—

Reconciliation of Funded Status to Net Amount Recognized

Reconciliation of Funded Status to Net Amount Recognized

			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
Change in Projected Benefit Obligation
Obligation at prior measurement date			$	6,299					$	1,514					$	1,990					$	911					$	1,069					$	325					$	496					$	175
Service cost			107						36						30						18						12						3						6						4
Interest cost			325						78						103						47						56						17						26						9
Actuarial (gain)/loss			(106)						(13)						(50)						(27)						(22)						(3)						(16)						5
Benefits paid			(645)						(177)						(198)						(111)						(88)						(33)						(41)						(12)
Transfers			—						6						—						—						—						—						—						—
Obligation at measurement date			$	5,980					$	1,444					$	1,875					$	838					$	1,027					$	309					$	471					$	181
Accumulated Benefit Obligation at measurement date			$	5,948					$	1,444					$	1,861					$	838					$	1,013					$	304					$	466					$	181
Change in Fair Value of Plan Assets
Plan assets at prior measurement date			$	7,162					$	1,853					$	2,453					$	1,120					$	1,316					$	326					$	514					$	213
Employer contributions			100						26						23						14						9						5						8						3
Actual return on plan assets			270						73						98						46						53						11						17						10
Benefits paid			(645)						(177)						(198)						(111)						(88)						(33)						(41)						(12)
Transfers			—						6						—						—						—						—						—						—
Plan assets at measurement date			$	6,887					$	1,781					$	2,376					$	1,069					$	1,290					$	309					$	498					$	214
Funded status of plan			$	907					$	337					$	501					$	231					$	263					$	—					$	27					$	33

			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
Change in Projected Benefit Obligation
Obligation at prior measurement date			$	6,358					$	1,554					$	1,975					$	909					$	1,055					$	333					$	499					$	170
Service cost			110						36						30						18						12						3						6						3
Interest cost			344						84						107						49						57						18						27						9
Actuarial loss			94						11						47						18						29						2						4						9
Benefits paid			(607)						(177)						(159)						(80)						(78)						(31)						(40)						(16)
Transfers			—						6						(10)						(3)						(6)						—						—						—
Obligation at measurement date			$	6,299					$	1,514					$	1,990					$	911					$	1,069					$	325					$	496					$	175
Accumulated Benefit Obligation at measurement date			$	6,267					$	1,517					$	1,975					$	912					$	1,053					$	317					$	494					$	176
Change in Fair Value of Plan Assets
Plan assets at prior measurement date			$	6,993					$	1,815					$	2,371					$	1,083					$	1,271					$	323					$	501					$	203
Employer contributions			100						26						22						13						9						5						8						3
Actual return on plan assets			676						183						229						107						120						29						45						23
Benefits paid			(607)						(177)						(159)						(80)						(78)						(31)						(40)						(16)
Transfers			—						6						(10)						(3)						(6)						—						—						—
Plan assets at measurement date			$	7,162					$	1,853					$	2,453					$	1,120					$	1,316					$	326					$	514					$	213
Funded status of plan			$	863					$	339					$	463					$	209					$	247					$	1					$	18					$	38

Amounts Recognized in the Consolidated Balance Sheet

Amounts Recognized in the Consolidated Balance Sheets

			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
Prefunded pension(a)			$	907					$	337					$	501					$	231					$	263					$	74					$	101					$	33
Noncurrent pension liability(b)			$	—					$	—					$	—					$	—					$	—					$	74					$	74					$	—
Net asset (liability) recognized			$	907					$	337					$	501					$	231					$	263					$	—					$	27					$	33
Regulatory assets			$	2,168					$	570					$	711					$	354					$	356					$	100					$	182					$	113
Accumulated other comprehensive income (loss)
Deferred income tax benefit			$	(24)					$	—					$	(1)					$	—					$	—					$	—					$	—					$	—
Net actuarial loss			115						—						4						—						—						—						—						—
Net amounts recognized in accumulated other comprehensive income			$	91					$	—					$	3					$	—					$	—					$	—					$	—					$	—

			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
Prefunded pension(a)			$	863					$	339					$	463					$	209					$	247					$	74					$	105					$	38
Noncurrent pension liability(b)			$	—					$	—					$	—					$	—					$	—					$	73					$	87					$	—
Net asset (liability) recognized			$	863					$	339					$	463					$	209					$	247					$	1					$	18					$	38
Regulatory assets			$	2,021					$	531					$	678					$	353					$	325					$	89					$	176					$	97
Accumulated other comprehensive (income) loss
Deferred income tax benefit			$	(27)					$	—					$	(1)					$	—					$	—					$	—					$	—					$	—
Prior service credit			(1)						—						—						—						—						—						—						—
Net actuarial loss			127						—						3						—						—						—						2						—
Net amounts recognized in accumulated other comprehensive loss			$	99					$	—					$	2					$	—					$	—					$	—					$	2					$	—

(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.

(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.

Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets

Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets

																		December 31, 2024
																					Duke						Duke
																					Energy						Energy
(in millions)																					Ohio						Indiana
Projected benefit obligation																					$	106					$	203
Accumulated benefit obligation																					101						197
Fair value of plan assets																					32						128

						December 31, 2023
																					Duke						Duke
																					Energy						Energy
(in millions)																					Ohio						Indiana
Projected benefit obligation																					$	105					$	208
Accumulated benefit obligation																					100						203
Fair value of plan assets																					31						121

Assumptions Used for Pension Benefits Accounting

The following tables present the assumptions or range of assumptions used for pension benefit accounting.

						December 31,
						2024												2023												2022
Benefit Obligations
Discount rate												5.70%												5.40%												5.60%
Interest crediting rate												4.78%												4.15%												4.35%
Salary increase						3.50		%	–			4.00%						3.50		%	–			4.00%						3.50		%	–			4.00%
Net Periodic Benefit Cost
Discount rate						5.00		%	–			5.40%												5.60%						2.90		%	–			5.70%
Interest crediting rate												4.15%												4.35%												4.00%
Salary increase						3.50		%	–			4.00%						3.50		%	–			4.00%						3.50		%	–			4.00%
Expected long-term rate of return on plan assets						8.50		%	–			7.00		%				6.50			–			8.25%												6.50%

Expected Benefit Payments

Expected Benefit Payments

						Duke						Duke			Duke			Duke			Duke
			Duke			Energy			Progress			Energy			Energy			Energy			Energy
(in millions)			Energy			Carolinas			Energy			Progress			Florida			Ohio			Indiana			Piedmont
Years ending December 31,
2025			$	628		$	173		$	183		$	98		$	84		$	31		$	43		$	19
2026			606			161			179			91			87			30			42			18
2027			586			153			175			87			87			29			42			17
2028			572			149			173			85			87			29			41			17
2029			546			138			167			79			87			29			42			16
2030-2034			2,407			567			762			338			420			129			197			73

Other Post-Retirement Benefit Plans

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Pension Costs

Components of Net Periodic Other Post-Retirement Benefit Costs

			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
Service cost			$	2					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Interest cost on accumulated post-retirement benefit obligation			17						3						7						4						3						1						1						1
Expected return on plan assets			(11)						(8)						—						—						—						—						—						(2)
Amortization of actuarial (gain) loss			(6)						(2)						8						6						2						(2)						(4)						—
Amortization of prior service credit			(21)						(4)						(11)						(6)						(5)						—						(5)						—
Net periodic post-retirement benefit costs (a)(b)			$	(19)					$	(11)					$	4					$	4					$	—					$	(1)					$	(8)					$	(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
Service cost			$	2					$	1					$	—					$	—					$	—					$	—					$	—					$	—
Interest cost on accumulated post-retirement benefit obligation			22						5						9						5						4						1						1						1
Expected return on plan assets			(11)						(7)						—						—						—						—						—						(2)
Amortization of actuarial (gain) loss			(6)						(3)						8						5						2						(2)						(3)						—
Amortization of prior service credit			(23)						(5)						(11)						(6)						(5)						—						(5)						—
Net periodic post-retirement benefit costs(a)(b)			$	(16)					$	(9)					$	6					$	4					$	1					$	(1)					$	(7)					$	(1)

			Year Ended 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
Service cost			$	3					$	1					$	—					$	—					$	—					$	—					$	—					$	—
Interest cost on accumulated post-retirement benefit obligation			17						4						7						4						3						1						1						1
Expected return on plan assets			(10)						(6)						—						—						—						—						—						(2)
Amortization of actuarial loss			2						—						1						1						1						—						—						—
Amortization of prior service credit			(8)						(3)						(2)						(1)						(1)						—						—						(2)
Net periodic post-retirement benefit costs(a)(b)			$	4					$	(4)					$	6					$	4					$	3					$	1					$	1					$	(3)

(a)    Duke Energy amounts exclude $4 million, $4 million and $4 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.

(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.

Amounts Recognized in AOCI and Regulatory Assets and Liabilities

Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities

			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
Regulatory assets, net (decrease) increase			$	(42)					$	(62)					$	23					$	17					$	5					$	(1)					$	(3)					$	—
Regulatory liabilities, net (decrease) increase			$	(76)					$	(71)					$	12					$	12					$	—					$	(3)					$	(12)					$	—
Accumulated other comprehensive (income) loss
Amortization of prior year actuarial gain			1						—						—						—						—						—						—						—
Net amount recognized in accumulated other comprehensive income			$	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
Regulatory assets, net increase (decrease)			$	73					$	79					$	(7)					$	(5)					$	—					$	(2)					$	(2)					$	1
Regulatory liabilities, net increase (decrease)			$	41					$	62					$	—					$	—					$	—					$	(4)					$	(8)					$	—
Accumulated other comprehensive (income) loss
Amortization of prior year service credit			$	1					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Amortization of prior year actuarial gain			$	—					$	—					$	(1)					$	—					$	—					$	—					$	—					$	—
Net amount recognized in accumulated other comprehensive income			$	1					$	—					$	(1)					$	—					$	—					$	—					$	—					$	—

Reconciliation of Funded Status to Net Amount Recognized

Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs

			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
Change in Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date			$	347					$	69					$	146					$	84					$	60					$	19					$	24					$	15
Service cost			2						—						—						—						—						—						—						—
Interest cost			17						3						7						4						3						1						1						1
Plan participants' contributions			3						1						1						—						—						—						—						—
Actuarial losses (gains)			2						(2)						7						5						3						—						(2)						—
Benefits paid			(37)						(8)						(15)						(6)						(6)						(2)						(3)						(1)
Accumulated post-retirement benefit obligation at measurement date			$	334					$	63					$	146					$	87					$	60					$	18					$	20					$	15
Change in Fair Value of Plan Assets
Plan assets at prior measurement date			$	156					$	102					$	(1)					$	(1)					$	(1)					$	7					$	3					$	27
Actual return on plan assets			7						4						—						—						—						—						—						3
Benefits paid			(37)						(8)						(15)						(6)						(6)						(2)						(3)						(1)
Tax refund			5						4						—						—						—						—						—						—
Employer contributions			27						4						14						7						7						2						—						—
Plan participants' contributions			3						1						1						—						—						—						—						—
Plan assets at measurement date			$	161					$	107					$	(1)					$	—					$	—					$	7					$	—					$	29
Funded status of plan			$	(173)					$	44					$	(147)					$	(87)					$	(60)					$	(11)					$	(20)					$	14

			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
Change in Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date			$	437					$	112					$	168					$	95					$	69					$	20					$	30					$	21
Service cost			2						1						—						—						—						—						—						—
Interest cost			22						5						9						5						4						1						1						1
Plan participants' contributions			4						1						1						1						1						—						—						—
Actuarial (gains) losses			(10)						(2)						(10)						(6)						(4)						1						(1)						1
Transfers			(50)						(34)						—						—						—						—						—						(6)
Benefits paid			(58)						(14)						(22)						(11)						(10)						(3)						(6)						(2)
Accumulated post-retirement benefit obligation at measurement date			$	347					$	69					$	146					$	84					$	60					$	19					$	24					$	15
Change in Fair Value of Plan Assets
Plan assets at prior measurement date			$	162					$	105					$	—					$	(2)					$	(2)					$	7					$	3					$	31
401(h) asset transfers			—						(8)						—						—						—						—						—						—
Actual return on plan assets			19						8						—						—						—						1						—						4
Benefits paid			(58)						(14)						(22)						(11)						(10)						(3)						(6)						(2)
Transfers			(13)						4						—						—						—						—						—						(7)
Employer contributions			42						6						20						11						10						2						6						1
Plan participants' contributions			4						1						1						1						1						—						—						—
Plan assets at measurement date			$	156					$	102					$	(1)					$	(1)					$	(1)					$	7					$	3					$	27
Funded status of plan			$	(191)					$	33					$	(147)					$	(85)					$	(61)					$	(12)					$	(21)					$	12

Amounts Recognized in the Consolidated Balance Sheet

Amounts Recognized in the Consolidated Balance Sheets

			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
Prefunded post-retirement benefit(a)			$	—					$	44					$	—					$	—					$	—					$	1					$	—					$	14
Current post-retirement liability(b)			8						—						5						3						2						1						—						—
Noncurrent post-retirement liability(c)			165						—						142						84						58						11						20						—
Net liability (asset) recognized			$	173					$	(44)					$	147					$	87					$	60					$	11					$	20					$	(14)
Regulatory assets			$	81					$	17					$	62					$	46					$	16					$	1					$	20					$	1
Regulatory liabilities			$	154					$	35					$	12					$	12					$	—					$	14					$	62					$	—
Accumulated other comprehensive (income) loss
Deferred income tax expense			$	3					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Net actuarial gain			(12)						—						(1)						—						—						—						—						—
Net amounts recognized in accumulated other comprehensive income			$	(9)					$	—					$	(1)					$	—					$	—					$	—					$	—					$	—

			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
Prefunded post-retirement benefit(a)			$	—					$	61					$	—					$	—					$	—					$	1					$	—					$	12
Current post-retirement liability(b)			12						3						5						3						2						1						—						—
Noncurrent post-retirement liability(c)			179						25						142						82						59						12						21						—
Net liability (asset) recognized			$	191					$	(33)					$	147					$	85					$	61					$	12					$	21					$	(12)
Regulatory assets			$	123					$	79					$	39					$	29					$	11					$	2					$	23					$	1
Regulatory liabilities			$	230					$	106					$	—					$	—					$	—					$	17					$	74					$	—
Accumulated other comprehensive (income) loss
Deferred income tax expense			$	3					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Net actuarial gain			(13)						—						(1)						—						—						—						—						—
Net amounts recognized in accumulated other comprehensive income			$	(10)					$	—					$	(1)					$	—					$	—					$	—					$	—					$	—

(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets. 

(b)    Included in Other within Current Liabilities on the Consolidated Balance Sheets.

(c)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.

Assumptions Used for Pension Benefits Accounting

The following tables present the assumptions used for other post-retirement benefits accounting.

						December 31,
						2024												2023												2022
Benefit Obligations
Discount rate												5.70		%										5.40		%				5.60		%
Net Periodic Benefit Cost
Discount rate												5.40		%										5.60		%				2.90		%
Expected long-term rate of return on plan assets						6.50		%	–			8.25		%				6.50		%	–			8.25		%				6.50		%

Expected Benefit Payments

Expected Benefit Payments

						Duke						Duke			Duke			Duke			Duke
			Duke			Energy			Progress			Energy			Energy			Energy			Energy
(in millions)			Energy			Carolinas			Energy			Progress			Florida			Ohio			Indiana			Piedmont
Years ending December 31,
2025			$	52		$	13		$	18		$	11		$	8		$	3		$	4		$	2
2026			45			11			16			10			7			3			3			2
2027			41			9			16			9			7			2			3			2
2028			38			8			15			9			6			2			3			2
2029			35			7			14			8			6			2			2			2
2030-2034			124			21			59			35			24			6			8			6

Assumed Health Care Cost Trend Rate

Assumed Health Care Cost Trend Rate

			December 31,
			2024						2023
Health care cost trend rate assumed for next year – pre-65 trend			7.00		%				6.50		%
Rate to which the cost trend is assumed to decline (the ultimate trend rate)			4.75		%				4.75		%
Year that rate reaches ultimate trend			2034-2035						2031-2032

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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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