XML 148 R94.htm IDEA: XBRL DOCUMENT v3.25.4

Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amounts of Outstanding Derivative Positions

The following tables show notional amounts of outstanding derivatives related to interest rate risk.

			December 31, 2025
									Duke												Duke						Duke						Duke						Duke
			Duke						Energy						Progress						Energy						Energy						Energy						Energy
(in millions)			Energy						Carolinas						Energy						Progress						Florida						Indiana						Ohio
Cash flow hedges			$	1,725					$	—					$	—					$	—					$	—					$	—					$	—
Undesignated contracts			3,852						2,175						1,325						650						675						325						27
Total notional amount			$	5,577					$	2,175					$	1,325					$	650					$	675					$	325					$	27

			December 31, 2024
									Duke												Duke						Duke						Duke						Duke
			Duke						Energy						Progress						Energy						Energy						Energy						Energy
(in millions)			Energy						Carolinas						Energy						Progress						Florida						Indiana						Ohio
Cash flow hedges			$	2,825					$	—					$	—					$	—					$	—					$	—					$	—
Undesignated contracts			3,202						1,150						1,775						1,125						650						250						27
Total notional amount			$	6,027					$	1,150					$	1,775					$	1,125					$	650					$	250					$	27

The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.

			December 31, 2025
									Duke												Duke												Duke						Duke
			Duke						Energy						Progress						Energy												Energy						Energy
			Energy						Carolinas						Energy						Progress												Ohio						Indiana						Piedmont
Electricity (GWh)			10,615						—						—						—												1,349						9,266						—
Natural gas (millions of Dth)			814						307						286						286												—						33						188

			December 31, 2024
									Duke												Duke												Duke						Duke
			Duke						Energy						Progress						Energy												Energy						Energy
			Energy						Carolinas						Energy						Progress												Ohio						Indiana						Piedmont
Electricity (GWh)			12,229						—						—						—												1,287						10,942						—
Natural gas (millions of Dth)			779						276						246						246												—						32						225

The following table shows Duke Energy's outstanding derivatives related to foreign currency risk.

																																										Fair Value Gain (Loss)(a)
															Receive																					Hedge						(in millions)
			Pay Notional												Notional									Receive												Maturity						Years Ended December 31,
			(in millions)						Pay Rate						(in millions)									Rate												Date						2025			2024			2023
Fair value hedges
			$	645					4.75		%				600			euros						3.10		%										June 2028						$	84		$	(41)		$	17
			537						5.31		%				500			euros						3.85		%										June 2034						70			(34)			15
			815						5.65		%				750			euros						3.75		%										April 2031						104			(38)			—
Total			$	1,997											1,850			euros																								$	258		$	(113)		$	32

(a)    Amounts are recorded in Other Income and expenses, net on the Consolidated Statement of Operations, which offsets an equal translation adjustment of the foreign denominated debt. See the Consolidated Statements of Comprehensive Income for amounts excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded.

Location and Fair Value of Derivatives Recognized in the Consolidated Balance Sheets

The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.

Derivative Assets						December 31, 2025
												Duke												Duke						Duke						Duke						Duke
						Duke						Energy						Progress						Energy						Energy						Energy						Energy
(in millions)						Energy						Carolinas						Energy						Progress						Florida						Ohio						Indiana						Piedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current						$	28					$	9					$	7					$	7					$	—					$	—					$	11					$	—
Noncurrent						28						12						16						16						—						—						—						—
Total Derivative Assets – Commodity Contracts						$	56					$	21					$	23					$	23					$	—					$	—					$	11					$	—
Interest Rate Contracts
Designated as Hedging Instruments
Current						$	25					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Noncurrent						20						—						—						—						—						—						—						—
Not Designated as Hedging Instruments
Current						$	63					$	34					$	29					$	29					$	1					$	—					$	—					$	—
Noncurrent						62						46						15						—						14						—						1						—
Total Derivative Assets – Interest Rate Contracts						$	170					$	80					$	44					$	29					$	15					$	—					$	1					$	—
Foreign Currency Contracts
Designated as Hedging Instruments
Noncurrent						156						—						—						—						—						—						—						—
Total Derivative Assets – Foreign Currency Contracts						$	156					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Total Derivative Assets						$	382					$	101					$	67					$	52					$	15					$	—					$	12					$	—

Derivative Liabilities						December 31, 2025
												Duke												Duke						Duke						Duke						Duke
						Duke						Energy						Progress						Energy						Energy						Energy						Energy
(in millions)						Energy						Carolinas						Energy						Progress						Florida						Ohio						Indiana						Piedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current						$	104					$	53					$	25					$	25					$	—					$	—					$	7					$	19
Noncurrent						106						32						21						21						—						—						—						53
Total Derivative Liabilities – Commodity Contracts						$	210					$	85					$	46					$	46					$	—					$	—					$	7					$	72
Interest Rate Contracts
Not Designated as Hedging Instruments
Current						—						3						(4)						(5)						1						—						2						—
Noncurrent						7						—						6						6						—						1						—						—
Total Derivative Liabilities – Interest Rate Contracts						$	7					$	3					$	2					$	1					$	1					$	1					$	2					$	—
Foreign Currency Contracts
Designated as Hedging Instruments
Current						$	27					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Total Derivative Liabilities – Foreign Currency Contracts						$	27					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Total Derivative Liabilities						$	244					$	88					$	48					$	47					$	1					$	1					$	9					$	72

Derivative Assets						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
Commodity Contracts
Not Designated as Hedging Instruments
Current						$	49					$	20					$	17					$	17					$	—					$	1					$	8					$	1
Noncurrent						60						29						32						32						—						—						—						—
Total Derivative Assets – Commodity Contracts						$	109					$	49					$	49					$	49					$	—					$	1					$	8					$	1
Interest Rate Contracts
Designated as Hedging Instruments
Current						$	108					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Noncurrent						52						—						—						—						—						—						—						—
Not Designated as Hedging Instruments
Current						$	110					$	19					$	55					$	44					$	11					$	—					$	36					$	—
Noncurrent						50						26						23						16						7						—						—						—
Total Derivative Assets – Interest Rate Contracts						$	320					$	45					$	78					$	60					$	18					$	—					$	36					$	—
Foreign Currency Contracts
Designated as Hedging Instruments
Noncurrent						$	5					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Total Derivative Assets – Foreign Currency Contracts						$	5					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Total Derivative Assets						$	434					$	94					$	127					$	109					$	18					$	1					$	44					$	1

Derivative Liabilities						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
Not Designated as Hedging Instruments
Current						$	108					$	57					$	32					$	32					$	—					$	—					$	3					$	16
Noncurrent						134						31						24						24						—						—						—						78
Total Derivative Liabilities – Commodity Contracts						$	242					$	88					$	56					$	56					$	—					$	—					$	3					$	94
Interest Rate Contracts
Not Designated as Hedging Instruments
Current						2						—						2						1						1						—						—						—
Noncurrent						1						—						—						—						—						1						—						—
Total Derivative Liabilities – Interest Rate Contracts						$	3					$	—					$	2					$	1					$	1					$	1					$	—					$	—
Foreign Currency Contracts
Designated as Hedging Instruments
Current						$	35					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Noncurrent						39						—						—						—						—						—						—						—
Total Derivative Liabilities – Foreign Currency Contracts						$	74					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Total Derivative Liabilities						$	319					$	88					$	58					$	57					$	1					$	1					$	3					$	94

Offsetting Assets

The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.

Derivative Assets						December 31, 2025
												Duke												Duke						Duke						Duke						Duke
						Duke						Energy						Progress						Energy						Energy						Energy						Energy
(in millions)						Energy						Carolinas						Energy						Progress						Florida						Ohio						Indiana						Piedmont
Current
Gross amounts recognized						$	116					$	43					$	36					$	36					$	1					$	—					$	11					$	—
Offset						(16)						(9)						(7)						(7)						—						—						—						—
Net amounts presented in Current Assets: Other						$	100					$	34					$	29					$	29					$	1					$	—					$	11					$	—
Noncurrent
Gross amounts recognized						$	266					$	58					$	31					$	16					$	14					$	—					$	1					$	—
Offset						(22)						(11)						(11)						(11)						—						—						—						—
Net amounts presented in Other Noncurrent Assets: Other						$	244					$	47					$	20					$	5					$	14					$	—					$	1					$	—

Derivative Assets						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
Current
Gross amounts recognized						$	267					$	39					$	72					$	61					$	11					$	1					$	44					$	1
Offset						(29)						(15)						(14)						(14)						—						—						—						—
Net amounts presented in Current Assets: Other						$	238					$	24					$	58					$	47					$	11					$	1					$	44					$	1
Noncurrent
Gross amounts recognized						$	167					$	55					$	55					$	48					$	7					$	—					$	—					$	—
Offset						(37)						(19)						(17)						(17)						—						—						—						—
Net amounts presented in Other Noncurrent Assets: Other						$	130					$	36					$	38					$	31					$	7					$	—					$	—					$	—

Offsetting Liabilities

Derivative Liabilities						December 31, 2025
												Duke												Duke						Duke						Duke						Duke
						Duke						Energy						Progress						Energy						Energy						Energy						Energy
(in millions)						Energy						Carolinas						Energy						Progress						Florida						Ohio						Indiana						Piedmont
Current
Gross amounts recognized						$	131					$	56					$	21					$	20					$	1					$	—					$	9					$	19
Offset						(16)						(9)						(7)						(7)						—						—						—						—
Cash collateral posted						(8)						(1)						—						—						—						—						(7)						—
Net amounts presented in Current Liabilities: Other						$	107					$	46					$	14					$	13					$	1					$	—					$	2					$	19
Noncurrent
Gross amounts recognized						$	113					$	32					$	27					$	27					$	—					$	1					$	—					$	53
Offset						(22)						(11)						(11)						(11)						—						—						—						—
Cash collateral posted						(1)						(1)						—						—						—						—						—						—
Net amounts presented in Other Noncurrent Liabilities: Other						$	90					$	20					$	16					$	16					$	—					$	1					$	—					$	53

Derivative Liabilities						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
Current
Gross amounts recognized						$	145					$	57					$	34					$	33					$	1					$	—					$	3					$	16
Offset						(29)						(15)						(14)						(14)						—						—						—						—
Cash collateral posted						(3)						(2)						—						—						—						—						(1)						—
Net amounts presented in Current Liabilities: Other						$	113					$	40					$	20					$	19					$	1					$	—					$	2					$	16
Noncurrent
Gross amounts recognized						$	174					$	31					$	24					$	24					$	—					$	1					$	—					$	78
Offset						(37)						(19)						(17)						(17)						—						—						—						—
Cash collateral posted						(4)						(4)						—						—						—						—						—						—
Net amounts presented in Other Noncurrent Liabilities: Other						$	133					$	8					$	7					$	7					$	—					$	1					$	—					$	78

Derivative Contracts with Contingent Credit Features

The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit risk-related payment provisions.

			December 31, 2025
									Duke												Duke
			Duke						Energy						Progress						Energy
(in millions)			Energy						Carolinas						Energy						Progress
Aggregate fair value of derivatives in a net liability position			$	102					$	59					$	43					$	43
Fair value of collateral already posted			2						2						—						—
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered			100						57						43						43

			December 31, 2024
									Duke												Duke
			Duke						Energy						Progress						Energy
(in millions)			Energy						Carolinas						Energy						Progress
Aggregate fair value of derivatives in a net liability position			$	101					$	52					$	49					$	49
Fair value of collateral already posted			6						6						—						—
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered			95						46						49						49

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4K
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4K
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4K
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4L
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4L

+ Details

Name:	us-gaap_DisclosureOfCreditDerivativesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-7A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-21

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-4

+ Details

Name:	us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-7A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-21

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-4

+ Details

Name:	us-gaap_OffsettingLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 182
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480401/815-10-55-182

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A

+ Details

Name:	us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration