Asset Retirement Obligations

9 Months Ended

Sep. 30, 2025

Asset Retirement Obligation Disclosure [Abstract]

ASSET RETIREMENT OBLIGATIONS

The Duke Energy Registrants record AROs when there is a legal obligation to incur retirement costs associated with the retirement of a long-lived asset and the obligation can be reasonably estimated. Actual costs incurred could be materially different from current estimates that form the basis of the recorded AROs.

The following table presents the AROs recorded on the Condensed Consolidated Balance Sheets.


	September 30, 2025
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Decommissioning of nuclear power facilities	$	4,625	$	2,131	$	2,479	$	2,400	$	79	$	—	$	—	$	—
Closure of ash impoundments	4,688		1,648		1,868		1,844		24		65		1,107		—
Other	331		75		135		43		92		68		29		26
Total ARO	$	9,644	$	3,854	$	4,482	$	4,287	$	195	$	133	$	1,136	$	26
Less: Current portion	592		247		208		206		2		8		130		—
Total noncurrent ARO	$	9,052	$	3,607	$	4,274	$	4,081	$	193	$	125	$	1,006	$	26

ARO Liability Rollforward

The following table presents the change in liability associated with AROs for the Duke Energy Registrants.


			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at December 31, 2024(a)	$	9,988	$	3,990	$	4,548	$	4,334	$	214	$	139	$	1,268	$	24

Accretion expense(b)	357		141		164		158		6		5		49		2
Liabilities settled(c)	(435)		(171)		(180)		(149)		(31)		(5)		(79)		—

Revisions in estimates of cash flows(d)	(266)		(106)		(50)		(56)		6		(6)		(102)		—
Balance at September 30, 2025	$	9,644	$	3,854	$	4,482	$	4,287	$	195	$	133	$	1,136	$	26

(a)Primarily relates to decommissioning nuclear power facilities, closure of ash impoundments, asbestos removal, closure of landfills at fossil generation facilities, retirement of natural gas mains and removal of renewable energy generation assets.

(b)For the nine months ended September 30, 2025, substantially all accretion expense has been deferred in accordance with regulatory accounting treatment.

(c)Primarily relates to ash impoundment closures and nuclear decommissioning.

(d)The revision amounts represent the change in discounted cash flows for estimated closure costs as evaluated on a site-by-site basis. The decreases primarily relate to lower third-party markup and a shift in timing of costs to future years.

Asset retirement costs associated with the AROs for operating plants and retired plants are included in Net property, plant and equipment and Regulatory assets, respectively, on the Condensed Consolidated Balance Sheets.