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v3.25.1

Business Segments | 3 Months Ended
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Mar. 31, 2025
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 March 31, 2025
| Electric |  | Gas |  |  |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  |  |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  |  |  | Segments |  | Other |  | Eliminations |  | Total
Unaffiliated revenues | $ | 7,125 |  |  | $ | 1,116 |  |  |  |  | $ | 8,241 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 8,249 |
Intersegment revenues | 15 |  |  | 24 |  |  |  |  | 39 |  |  | 34 |  |  | (73) |  |  | — |
Total operating revenues | $ | 7,140 |  |  | $ | 1,140 |  |  |  |  | $ | 8,280 |  |  | $ | 42 |  |  | $ | (73) |  |  | $ | 8,249 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power | $ | 2,119 |  |  | $ | — |  |  |  |  | $ | 2,119 |  |  | $ | — |  |  | $ | (20) |  |  | $ | 2,099 |
Cost of natural gas | — |  |  | 374 |  |  |  |  | 374 |  |  | — |  |  | — |  |  | 374 |
Operation, maintenance and other | 1,424 |  |  | 125 |  |  |  |  | 1,549 |  |  | 2 |  |  | (52) |  |  | 1,499 |
Depreciation and amortization | 1,334 |  |  | 107 |  |  |  |  | 1,441 |  |  | 77 |  |  | (6) |  |  | 1,512 |
Property and other taxes | 378 |  |  | 47 |  |  |  |  | 425 |  |  | 3 |  |  | — |  |  | 428 |
Interest expense | 530 |  |  | 65 |  |  |  |  | 595 |  |  | 318 |  |  | (24) |  |  | 889 |
Income tax expense (benefit) | 189 |  |  | 91 |  |  |  |  | 280 |  |  | (87) |  |  | — |  |  | 193 |
Other Segment Items |  |  |  |  |  |  |  |  |  |  |  |  | — |
Noncontrolling interests(a) | 25 |  |  | — |  |  |  |  | 25 |  |  | — |  |  | — |  |  | 25 |
Preferred dividends | — |  |  | — |  |  |  |  | — |  |  | 14 |  |  | — |  |  | 14 |
Add: Equity in earnings of unconsolidated affiliates | — |  |  | 5 |  |  |  |  | 5 |  |  | 6 |  |  | — |  |  | 11 |
Add: Other(b) | 135 |  |  | 13 |  |  |  |  | 148 |  |  | 19 |  |  | (29) |  |  | 138 |
Segment income (loss) | $ | 1,276 |  |  | $ | 349 |  |  |  |  | $ | 1,625 |  |  | $ | (260) |  |  | $ | — |  |  | $ | 1,365 |
Net income available to Duke Energy Corporation Common Stockholders |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,365 |
Add back: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  |  | 25 |
Add back: Preferred dividends |  |  |  |  |  |  |  |  |  |  |  |  | 14 |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,404 |
Capital investments expenditures and acquisitions | $ | 2,814 |  |  | $ | 249 |  |  |  |  | $ | 3,063 |  |  | $ | 85 |  |  | $ | — |  |  | $ | 3,148 |
Segment assets | 164,794 |  |  | 18,233 |  |  |  |  | 183,027 |  |  | 4,449 |  |  | — |  |  | 187,476 |
| Three Months Ended March 31, 2024
| Electric |  | Gas |  |  |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  |  |  | Reportable |  |  |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  |  |  | Segments |  | Other |  | Eliminations |  | Total
Unaffiliated revenues | $ | 6,785 |  |  | $ | 879 |  |  |  |  | $ | 7,664 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 7,671 |
Intersegment revenues | 18 |  |  | 23 |  |  |  |  | 41 |  |  | 31 |  |  | (72) |  |  | — |
Total operating revenues | $ | 6,803 |  |  | $ | 902 |  |  |  |  | $ | 7,705 |  |  | $ | 38 |  |  | $ | (72) |  |  | $ | 7,671 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power | $ | 2,355 |  |  | $ | — |  |  |  |  | $ | 2,355 |  |  | $ | — |  |  | $ | (20) |  |  | $ | 2,335 |
Cost of natural gas | — |  |  | 232 |  |  |  |  | 232 |  |  | — |  |  | — |  |  | 232 |
Operation, maintenance and other | 1,317 |  |  | 129 |  |  |  |  | 1,446 |  |  | (18) |  |  | (48) |  |  | 1,380 |
Depreciation and amortization | 1,225 |  |  | 98 |  |  |  |  | 1,323 |  |  | 71 |  |  | (7) |  |  | 1,387 |
Property and other taxes | 337 |  |  | 46 |  |  |  |  | 383 |  |  | 3 |  |  | — |  |  | 386 |
Interest expense | 499 |  |  | 61 |  |  |  |  | 560 |  |  | 294 |  |  | (37) |  |  | 817 |
Income tax expense (benefit) | 173 |  |  | 69 |  |  |  |  | 242 |  |  | (64) |  |  | — |  |  | 178 |
Other Segment Items |  |  |  |  |  |  |  |  |  |  |  |  |
Noncontrolling interests(a) | 13 |  |  | — |  |  |  |  | 13 |  |  | — |  |  | — |  |  | 13 |
Preferred dividends | — |  |  | — |  |  |  |  | — |  |  | 39 |  |  | — |  |  | 39 |
Add: Equity in earnings of unconsolidated affiliates | 1 |  |  | — |  |  |  |  | 1 |  |  | 17 |  |  | (1) |  |  | 17 |
Add: Other(b) | 136 |  |  | 17 |  |  |  |  | 153 |  |  | 67 |  |  | (39) |  |  | 181 |
Segment income (loss) | $ | 1,021 |  |  | $ | 284 |  |  |  |  | $ | 1,305 |  |  | $ | (203) |  |  | $ | — |  |  | $ | 1,102 |
Discontinued Operations |  |  |  |  |  |  |  |  |  |  |  |  | (3) |
Net income available to Duke Energy Corporation Common Stockholders |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,099 |
Add back: Net Income available to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Add back: Preferred dividends |  |  |  |  |  |  |  |  |  |  |  |  | 39 |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,151 |
Capital investments expenditures and acquisitions | $ | 2,746 |  |  | $ | 382 |  |  |  |  | $ | 3,128 |  |  | $ | 87 |  |  | $ | — |  |  | $ | 3,215 |
Segment assets | 156,606 |  |  | 17,464 |  |  |  |  | 174,070 |  |  | 4,600 |  |  | — |  |  | 178,670 |
(a)Net income attributable to NCI related to continuing operations. (b) Other for EU&I and GU&I includes Gains on sales of other assets and other, net, and Other income and expenses, net. Duke Energy Carolinas Duke Energy Carolinas has one reportable segment, EU&I. The remainder of Duke Energy Carolinas' operations is presented as Other.
|  |  |  | Three Months Ended March 31, 2025
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 2,524 |  | $ | — |  | $ | 2,524 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 803 |  | $ | — |  | $ | 803 |
Operation, maintenance and other |  |  |  |  |  | 474 |  | 10 |  | 484 |
Depreciation and amortization |  |  |  |  |  | 432 |  | — |  | 432 |
Property and other taxes |  |  |  |  |  | 102 |  | — |  | 102 |
Interest expense |  |  |  |  |  | 200 |  | — |  | 200 |
Income tax expense (benefit) |  |  |  |  |  | 53 |  | (2) |  | 51 |
Add: Other segment items(a) |  |  |  |  |  | 61 |  | — |  | 61 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 521 |  | $ | (8) |  | $ | 513 |
Capital expenditures |  |  |  |  |  | $ | 1,019 |  | $ | — |  | $ | 1,019 |
Segment assets |  |  |  |  |  | 55,035 |  | 377 |  | 55,412 |
|  |  |  | Three Months Ended March 31, 2024
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 2,407 |  | $ | — |  | $ | 2,407 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 860 |  | $ | — |  | $ | 860 |
Operation, maintenance and other |  |  |  |  |  | 441 |  | 11 |  | 452 |
Depreciation and amortization |  |  |  |  |  | 397 |  | — |  | 397 |
Property and other taxes |  |  |  |  |  | 94 |  | — |  | 94 |
Interest expense |  |  |  |  |  | 180 |  | — |  | 180 |
Income tax expense (benefit) |  |  |  |  |  | 58 |  | (2) |  | 56 |
Add: Other segment items(a) |  |  |  |  |  | 62 |  | — |  | 62 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 439 |  | $ | (9) |  | $ | 430 |
Capital expenditures |  |  |  |  |  | $ | 952 |  | $ | — |  | $ | 952 |
Segment assets |  |  |  |  |  | 52,487 |  | 205 |  | 52,692 |
(a) Other segment items include Gains on sales of other assets and other, net, and Other income and expenses, net. Progress Energy Progress Energy has one reportable segment, EU&I. The remainder of Progress Energy's operations is presented as Other.
|  |  |  | Three Months Ended March 31, 2025
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 3,462 |  | $ | 5 |  | $ | 3,467 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 1,106 |  | $ | — |  | $ | 1,106 |
Operation, maintenance and other |  |  |  |  |  | 673 |  | 15 |  | 688 |
Depreciation and amortization |  |  |  |  |  | 631 |  | — |  | 631 |
Property and other taxes |  |  |  |  |  | 172 |  | — |  | 172 |
Interest expense |  |  |  |  |  | 246 |  | 29 |  | 275 |
Income tax expense (benefit) |  |  |  |  |  | 118 |  | (8) |  | 110 |
Add: Other segment items(a) |  |  |  |  |  | 61 |  | — |  | 61 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 577 |  | $ | (31) |  | $ | 546 |
Capital expenditures |  |  |  |  |  | $ | 1,409 |  | $ | — |  | $ | 1,409 |
Segment assets |  |  |  |  |  | 68,341 |  | 5,004 |  | 73,345 |
|  |  |  | Three Months Ended March 31, 2024
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 3,224 |  | $ | 4 |  | $ | 3,228 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 1,143 |  | $ | — |  | $ | 1,143 |
Operation, maintenance and other |  |  |  |  |  | 616 |  | 12 |  | 628 |
Depreciation and amortization |  |  |  |  |  | 587 |  | — |  | 587 |
Property and other taxes |  |  |  |  |  | 157 |  | 1 |  | 158 |
Interest expense |  |  |  |  |  | 231 |  | 29 |  | 260 |
Income tax expense (benefit) |  |  |  |  |  | 95 |  | (9) |  | 86 |
Add: Other segment items(a) |  |  |  |  |  | 61 |  | 8 |  | 69 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 456 |  | $ | (21) |  | $ | 435 |
Capital expenditures |  |  |  |  |  | $ | 1,373 |  | $ | — |  | $ | 1,373 |
Segment assets |  |  |  |  |  | 63,861 |  | 3,861 |  | 67,722 |
(a) Other segment items include Gains on sales of other assets and other, net, and Other income and expenses, net. Duke Energy Progress Duke Energy Progress has one reportable segment, EU&I. The remainder of Duke Energy Progress' operations is presented as Other.
|  |  |  | Three Months Ended March 31, 2025
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 2,018 |  | $ | — |  | $ | 2,018 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 725 |  | $ | — |  | $ | 725 |
Operation, maintenance and other |  |  |  |  |  | 391 |  | 7 |  | 398 |
Depreciation and amortization |  |  |  |  |  | 357 |  | — |  | 357 |
Property and other taxes |  |  |  |  |  | 60 |  | — |  | 60 |
Interest expense |  |  |  |  |  | 128 |  | — |  | 128 |
Income tax expense (benefit) |  |  |  |  |  | 58 |  | (2) |  | 56 |
Add: Other segment items(a) |  |  |  |  |  | 39 |  | (2) |  | 37 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 338 |  | $ | (7) |  | $ | 331 |
Capital expenditures |  |  |  |  |  | $ | 849 |  | $ | — |  | $ | 849 |
Segment assets |  |  |  |  |  | 39,788 |  | 1,089 |  | 40,877 |
|  |  |  | Three Months Ended March 31, 2024
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 1,788 |  | $ | — |  | $ | 1,788 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 620 |  | $ | — |  | $ | 620 |
Operation, maintenance and other |  |  |  |  |  | 369 |  | 6 |  | 375 |
Depreciation and amortization |  |  |  |  |  | 339 |  | — |  | 339 |
Property and other taxes |  |  |  |  |  | 51 |  | — |  | 51 |
Interest expense |  |  |  |  |  | 120 |  | — |  | 120 |
Income tax expense (benefit) |  |  |  |  |  | 50 |  | (2) |  | 48 |
Add: Other segment items(a) |  |  |  |  |  | 36 |  | 1 |  | 37 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 275 |  | $ | (3) |  | $ | 272 |
Capital expenditures |  |  |  |  |  | $ | 704 |  | $ | — |  | $ | 704 |
Segment assets |  |  |  |  |  | 37,390 |  | 104 |  | 37,494 |
(a) Other segment items include Gains on sales of other assets and other, net, and Other income and expenses, net. Duke Energy Florida Duke Energy Florida has one reportable segment, EU&I. The remainder of Duke Energy Florida's operations is presented as Other.
|  |  |  | Three Months Ended March 31, 2025
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 1,444 |  | $ | — |  | $ | 1,444 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 381 |  | $ | — |  | $ | 381 |
Operation, maintenance and other |  |  |  |  |  | 282 |  | 4 |  | 286 |
Depreciation and amortization |  |  |  |  |  | 274 |  | — |  | 274 |
Property and other taxes |  |  |  |  |  | 112 |  | — |  | 112 |
Interest expense |  |  |  |  |  | 118 |  | — |  | 118 |
Income tax expense (benefit) |  |  |  |  |  | 60 |  | (2) |  | 58 |
Add: Other segment items(a) |  |  |  |  |  | 22 |  | (3) |  | 19 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 239 |  | $ | (5) |  | $ | 234 |
Capital expenditures |  |  |  |  |  | $ | 559 |  | $ | — |  | $ | 559 |
Segment assets |  |  |  |  |  | 28,553 |  | 187 |  | 28,740 |
|  |  |  | Three Months Ended March 31, 2024
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 1,436 |  | $ | — |  | $ | 1,436 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 523 |  | $ | — |  | $ | 523 |
Operation, maintenance and other |  |  |  |  |  | 247 |  | 4 |  | 251 |
Depreciation and amortization |  |  |  |  |  | 248 |  | — |  | 248 |
Property and other taxes |  |  |  |  |  | 106 |  | — |  | 106 |
Interest expense |  |  |  |  |  | 111 |  | — |  | 111 |
Income tax expense (benefit) |  |  |  |  |  | 45 |  | (2) |  | 43 |
Add: Other segment items(a) |  |  |  |  |  | 25 |  | — |  | 25 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 181 |  | $ | (2) |  | $ | 179 |
Capital expenditures |  |  |  |  |  | $ | 669 |  | $ | — |  | $ | 669 |
Segment assets |  |  |  |  |  | 26,471 |  | 27 |  | 26,498 |
(a) Other segment items include Gains on sales of other assets and other, net, and Other income and expenses, net. 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 March 31, 2025
| Electric |  | Gas |  | Total |  |  |  |
| Utilities and |  | Utilities and |  | Reportable |  | Eliminations/ |  |
(in millions) | Infrastructure |  | Infrastructure |  | Segments |  | Other |  | Total
Total operating revenues | $ | 487 |  |  | $ | 279 |  |  | $ | 766 |  |  | $ | — |  |  | $ | 766 |
Less: |  |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power | $ | 149 |  |  | $ | — |  |  | $ | 149 |  |  | $ | — |  |  | $ | 149 |
Cost of natural gas | — |  |  | 101 |  |  | 101 |  |  | — |  |  | 101 |
Operation, maintenance and other | 92 |  |  | 29 |  |  | 121 |  |  | 3 |  |  | 124 |
Depreciation and amortization | 76 |  |  | 36 |  |  | 112 |  |  | — |  |  | 112 |
Property and other taxes | 86 |  |  | 30 |  |  | 116 |  |  | — |  |  | 116 |
Interest expense | 31 |  |  | 16 |  |  | 47 |  |  | — |  |  | 47 |
Income tax expense (benefit) | 9 |  |  | 14 |  |  | 23 |  |  | (1) |  |  | 22 |
Add: Other segment items(a) | 4 |  |  | 2 |  |  | 6 |  |  | (1) |  |  | 5 |
Segment income (loss) / Net income | $ | 48 |  |  | $ | 55 |  |  | $ | 103 |  |  | $ | (3) |  |  | $ | 100 |
Capital expenditures | $ | 157 |  |  | $ | 67 |  |  | $ | 224 |  |  | $ | — |  |  | $ | 224 |
Segment assets | 8,303 |  |  | 4,524 |  |  | 12,827 |  |  | 53 |  |  | 12,880 |
| Three Months Ended March 31, 2024
| Electric |  | Gas |  | Total |  |  |  |  |  |
| Utilities and |  | Utilities and |  | Reportable |  | Eliminations/ |  |  |  |
(in millions) | Infrastructure |  | Infrastructure |  | Segments |  | Other |  |  |  | Total
Total operating revenues | $ | 458 |  |  | $ | 220 |  |  | $ | 678 |  |  | $ | — |  |  |  |  | $ | 678 |
Less: |  |  |  |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power | $ | 138 |  |  | $ | — |  |  | $ | 138 |  |  | — |  |  |  |  | $ | 138 |
Cost of natural gas | — |  |  | 61 |  |  | 61 |  |  | — |  |  |  |  | 61 |
Operation, maintenance and other | 93 |  |  | 32 |  |  | 125 |  |  | 1 |  |  |  |  | 126 |
Depreciation and amortization | 66 |  |  | 33 |  |  | 99 |  |  | — |  |  |  |  | 99 |
Property and other taxes | 71 |  |  | 31 |  |  | 102 |  |  | — |  |  |  |  | 102 |
Interest expense | 29 |  |  | 15 |  |  | 44 |  |  | 1 |  |  |  |  | 45 |
Income tax expense (benefit) | 10 |  |  | 9 |  |  | 19 |  |  | — |  |  |  |  | 19 |
Add: Other segment items(a) | 4 |  |  | 2 |  |  | 6 |  |  | — |  |  |  |  | 6 |
Segment income (loss) / Net income | $ | 55 |  |  | $ | 41 |  |  | $ | 96 |  |  | $ | (2) |  |  |  |  | $ | 94 |
Capital expenditures | $ | 137 |  |  | $ | 80 |  |  | $ | 217 |  |  | $ | — |  |  |  |  | $ | 217 |
Segment assets | 7,935 |  |  | 4,350 |  |  | 12,285 |  |  | 20 |  |  |  |  | 12,305 |
(a) Other segment items for EU&I and GU&I include Gains on sales of other assets and other, net, and Other income and expenses, net. Duke Energy Indiana Duke Energy Indiana has one reportable segment, EU&I. The remainder of Duke Energy Indiana's operations is presented as Other.
|  |  |  | Three Months Ended March 31, 2025
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 858 |  | $ | — |  | $ | 858 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 260 |  | $ | — |  | $ | 260 |
Operation, maintenance and other |  |  |  |  |  | 193 |  | 2 |  | 195 |
Depreciation and amortization |  |  |  |  |  | 192 |  | — |  | 192 |
Property and other taxes |  |  |  |  |  | 18 |  | — |  | 18 |
Interest expense |  |  |  |  |  | 60 |  | (1) |  | 59 |
Income tax expense (benefit) |  |  |  |  |  | 18 |  | — |  | 18 |
Add: Other segment items(a) |  |  |  |  |  | 10 |  | — |  | 10 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 127 |  | $ | (1) |  | $ | 126 |
Capital expenditures |  |  |  |  |  | $ | 234 |  | $ | — |  | $ | 234 |
Segment assets |  |  |  |  |  | 15,782 |  | 8 |  | 15,790 |
|  |  |  | Three Months Ended March 31, 2024
|  |  |  |  |  | Electric |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 759 |  | $ | — |  | $ | 759 |
Less: |  |  |  |  |  |  |  |
Fuel used in electric generation and purchased power |  |  |  |  |  | $ | 271 |  | $ | — |  | $ | 271 |
Operation, maintenance and other |  |  |  |  |  | 178 |  | 2 |  | 180 |
Depreciation and amortization |  |  |  |  |  | 169 |  | — |  | 169 |
Property and other taxes |  |  |  |  |  | 14 |  | — |  | 14 |
Interest expense |  |  |  |  |  | 57 |  | — |  | 57 |
Income tax expense (benefit) |  |  |  |  |  | 14 |  | — |  | 14 |
Add: Other segment items(a) |  |  |  |  |  | 13 |  | — |  | 13 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 69 |  | $ | (2) |  | $ | 67 |
Capital expenditures |  |  |  |  |  | $ | 275 |  | $ | — |  | $ | 275 |
Segment assets |  |  |  |  |  | 14,921 |  | 19 |  | 14,940 |
(a) Other segment items include Gains on sales of other assets and other, net, and Other income and expenses, net. Piedmont Piedmont has one reportable segment, GU&I. The remainder of Piedmont's operations is presented as Other.
|  |  |  | Three Months Ended March 31, 2025
|  |  |  |  |  | Gas |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 857 |  | $ | — |  | $ | 857 |
Less: |  |  |  |  |  |  |  |
Cost of natural gas |  |  |  |  |  | $ | 272 |  | $ | — |  | $ | 272 |
Operation, maintenance and other |  |  |  |  |  | 94 |  | 2 |  | 96 |
Depreciation and amortization |  |  |  |  |  | 70 |  | — |  | 70 |
Property and other taxes |  |  |  |  |  | 18 |  | — |  | 18 |
Interest expense |  |  |  |  |  | 47 |  | — |  | 47 |
Income tax expense (benefit) |  |  |  |  |  | 76 |  | — |  | 76 |
Other Segment Items |  |  |  |  |  |  |  |
Add: Equity in earnings of unconsolidated affiliates |  |  |  |  |  | — |  | 2 |  | 2 |
Add: Other(a) |  |  |  |  |  | 11 |  | — |  | 11 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 291 |  | $ | — |  | $ | 291 |
Capital expenditures |  |  |  |  |  | $ | 182 |  | $ | — |  | $ | 182 |
Segment assets |  |  |  |  |  | 11,818 |  | 91 |  | 11,909 |
|  |  |  | Three Months Ended March 31, 2024
|  |  |  |  |  | Gas |  |
|  |  |  |  |  | Utilities and | Eliminations/ |
(in millions) |  |  |  |  |  | Infrastructure | Other | Total
Total operating revenues |  |  |  |  |  | $ | 676 |  | $ | — |  | $ | 676 |
Less: |  |  |  |  |  |  |  |
Cost of natural gas |  |  |  |  |  | $ | 170 |  | $ | — |  | $ | 170 |
Operation, maintenance and other |  |  |  |  |  | 95 |  | — |  | 95 |
Depreciation and amortization |  |  |  |  |  | 62 |  | — |  | 62 |
Property and other taxes |  |  |  |  |  | 15 |  | — |  | 15 |
Interest expense |  |  |  |  |  | 45 |  | — |  | 45 |
Income tax expense (benefit) |  |  |  |  |  | 59 |  | 1 |  | 60 |
Other Segment Items |  |  |  |  |  |  |  |
Add: Equity in earnings of unconsolidated affiliates |  |  |  |  |  | — |  | 2 |  | 2 |
Add: Other(a) |  |  |  |  |  | 15 |  | — |  | 15 |
Segment income (loss) / Net income |  |  |  |  |  | $ | 245 |  | $ | 1 |  | $ | 246 |
Capital expenditures |  |  |  |  |  | $ | 294 |  | $ | — |  | $ | 294 |
Segment assets |  |  |  |  |  | 11,099 |  | 93 |  | 11,192 |
(a) Other includes Gains on sales of other assets and other, net, and Other income and expenses, net.

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