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Dispositions
 3 Months Ended
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Dispositions DISPOSITIONS
Sale of Commercial Renewables Segment
In 2023, Duke Energy completed the sale of substantially all the assets in the Commercial Renewables business segment. Duke Energy closed on the transaction with Brookfield on October 25, 2023, for proceeds of $1.1 billion, with approximately half of the proceeds received at closing and the remainder due 18 months after closing. The balance of the remaining proceeds to be received of $558 million is included in Receivable from sales of Commercial Renewables Disposal Groups, as of March 31, 2025, and $551 million as of December 31, 2024, on Duke Energy's Condensed Consolidated Balance Sheets. On April 28, 2025, Duke Energy received the remaining sale proceeds from Brookfield.
In January 2025, a sale of the remaining Commercial Renewables business assets was completed and proceeds from that disposition were not material.
Assets Held For Sale and Discontinued Operations
The Commercial Renewables Disposal Groups were classified as held for sale and as discontinued operations in the fourth quarter of 2022. No interest from corporate level debt was allocated to discontinued operations. Unless otherwise noted, the notes to these condensed consolidated financial statements exclude amounts related to discontinued operations for all periods presented.
The following table presents the carrying values of the major classes of Assets held for sale and Liabilities associated with assets held for sale included in Duke Energy's Condensed Consolidated Balance Sheets.
(in millions)March 31, 2025December 31, 2024
Current Assets Held for Sale
Other$— $4 
Total current assets held for sale— 4 
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost— 109 
Accumulated depreciation and amortization— (24)
Net property, plant and equipment— 85 
Operating lease right-of-use assets, net— 4 
Total other noncurrent assets held for sale— 4 
Total Assets Held for Sale$— $93 
Current Liabilities Associated with Assets Held for Sale
Accounts payable$18 $19 
Taxes accrued— 1 
Current maturities of long-term debt— 43 
Unrealized losses on commodity hedges
— 13 
Other— 4 
Total current liabilities associated with assets held for sale18 80 
Noncurrent Liabilities Associated with Assets Held for Sale
Operating lease liabilities— 5 
Asset retirement obligations— 5 
Unrealized losses on commodity hedges
— 66 
Other— 13 
Total other noncurrent liabilities associated with assets held for sale— 89 
Total Liabilities Associated with Assets Held for Sale$18 $169 
As of March 31, 2025, the remaining held for sale liability balance relates to Disposal Group assets previously sold and is expected to settle by December 31, 2025.
As of December 31, 2024, the noncontrolling interest balance is $18 million.
The following table presents the results of the Commercial Renewables Disposal Groups, which are included in Loss from Discontinued Operations, net of tax in Duke Energy's Condensed Consolidated Statements of Operations.
Three Months Ended
March 31,
(in millions)20252024
Operating revenues$4 $(6)
Operation, maintenance and other1 4
Interest expense— 2
Loss (Gain) on disposal
4 (10)
Loss before income taxes(1)(2)
Income tax (benefit) expense
(1)1 
Net loss from discontinued operations attributable to Duke Energy Corporation
$— $(3)
Duke Energy has elected not to separately disclose discontinued operations on Duke Energy's Condensed Consolidated Statements of Cash Flows. The following table summarizes Duke Energy's cash flows from discontinued operations related to the Commercial Renewables Disposal Groups.
Three Months Ended
March 31,
(in millions)20252024
Cash flows used in:
Operating activities$(3)$(3)
Other Sale-Related Matters
As part of the purchase and sale agreement for the distributed generation group, Duke Energy has agreed to retain certain guarantees, with expiration dates between 2029 through 2034, related to tax equity partners' assets and operations that will be disposed of via sale. Duke Energy has obtained certain guarantees from the buyers in regards to future performance obligations to assist in limiting Duke Energy's exposure under the retained guarantees. The fair value of the guarantees is immaterial as Duke Energy does not believe conditions are likely for performance under these guarantees.