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Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2025

Variable Interest Entities [Line Items]

The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.

Duke Energy

Carolinas

Progress

(in millions)

DERF

DEPR

Expiration date

(a)

(b)

Credit facility amount

(a)

(b)

Amounts borrowed at March 31, 2025

—

Amounts borrowed at December 31, 2024

500

400

Restricted Receivables at March 31, 2025

—

Restricted Receivables at December 31, 2024

1,054

835

(a) In January 2025, Duke Energy Carolinas repaid all outstanding DERF borrowings totaling $500 million and terminated the related DERF credit facility.

(b) In March 2025, Duke Energy Progress repaid all outstanding DEPR borrowings totaling $400 million and terminated the related DEPR credit facility.

DEFPF | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets.


(in millions)	March 31, 2025	December 31, 2024

Regulatory Assets: Current	61	61
Current Assets: Other	10	35
Other Noncurrent Assets: Regulatory assets	729	741
Other Noncurrent Assets: Other	7	—
Current Liabilities: Other	2	8
Current maturities of long-term debt	60	59
Long-Term Debt	741	773

DECNCSF and DEPNCSF | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the impact of these VIEs on Duke Energy Carolinas’ and Duke Energy Progress’ Consolidated Balance Sheets.


	March 31, 2025						December 31, 2024
	Duke Energy		Duke Energy				Duke Energy		Duke Energy
	Carolinas		Progress				Carolinas		Progress
(in millions)	DECNCSF		DEPNCSF		DEPSCSF		DECNCSF		DEPNCSF		DEPSCSF

Regulatory Assets: Current	$	12	$	39	$	8	$	12	$	39	$	8
Current Assets: Other	6		17		6		9		27		13
Other Noncurrent Assets: Regulatory assets	186		608		151		189		620		155
Other Noncurrent Assets: Other	1		4		1		1		4		1

Current Liabilities: Other	1		—		—		2		10		7
Current Maturities of Long-Term Debt	10		35		5		10		34		9
Long-Term Debt	193		629		160		198		646		163

CRC | VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table shows sales and cash flows related to receivables sold and reflects CRC activity prior to its termination in March 2024.


		Duke Energy Ohio			Duke Energy Indiana
	Three Months Ended			Three Months Ended
	March 31,			March 31,
(in millions)		2024			2024
Sales
Receivables sold		$	474		$	473
Loss recognized on sale		7			6
Cash flows
Cash proceeds from receivables sold		$	478		$	523

Return received on retained interests		4			4

DEF ProCo | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the impact of this VIE on Duke Energy Florida's Consolidated Balance Sheets.


(in millions)	March 31, 2025		December 31, 2024
Inventory	$	509	$	494
Accounts Payable	201		208

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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