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Business Segments
 12 Months Ended
Dec. 31, 2013
Business Segments [Abstract]  
Business Segments

3. BUSINESS SEGMENTS

Duke Energy evaluates segment performance based on segment income. Segment income is defined as income from continuing operations net of income attributable to noncontrolling interests. Segment income, as discussed below, includes intercompany revenues and expenses that are eliminated in the Consolidated Financial Statements.

Operating segments are determined based on information used by the chief operating decision maker in deciding how to allocate resources and evaluate the performance.

Products and services are sold between affiliate companies and reportable segments of Duke Energy at cost. Segment assets as presented in the tables that follow exclude all intercompany assets.

Duke Energy

Duke Energy has the following reportable operating segments: Regulated Utilities, International Energy and Commercial Power.

Regulated Utilities conducts operations primarily through Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, and the regulated transmission and distribution operations of Duke Energy Ohio. These electric and gas operations are subject to the rules and regulations of the FERC, NCUC, PSCSC, FPSC, PUCO, IURC, and KPSC. Substantially all of Regulated Utilities' operations are regulated and, accordingly, these operations qualify for regulatory accounting treatment.

International Energy principally operates and manages power generation facilities and engages in sales and marketing of electric power, natural gas, and natural gas liquids outside the U.S. Its activities principally target power generation in Latin America. Additionally, International Energy owns a 25 percent interest in National Methanol Company (NMC), a large regional producer of Methyl tertiary butyl ether (MTBE) located in Saudi Arabia. The investment in NMC is accounted for under the equity method of accounting.

Commercial Power owns, operates and manages power plants and engages in the wholesale marketing and procurement of electric power, fuel and emission allowances related to these plants as well as other contractual positions. Commercial Power's generation operations consist primarily of Duke Energy Ohio's coal-fired and gas-fired nonregulated generation assets located in the Midwest region of the U.S. and wind and solar generation located throughout the U.S. The asset portfolio has a diversified fuel mix with baseload and mid-merit coal-fired units as well as combined cycle and peaking natural gas-fired units. In addition, Commercial Power operates and develops transmission projects.

The remainder of Duke Energy's operations is presented as Other. While it is not an operating segment, Other primarily includes unallocated corporate interest expense, certain unallocated corporate costs, Bison Insurance Company Limited (Bison), Duke Energy's wholly owned, captive insurance subsidiary, and contributions to the Duke Energy Foundation. On December 31, 2013, Duke Energy sold its interest in DukeNet Communications Holdings, LLC (DukeNet) to Time Warner Cable, Inc. See Note 12 for further information.

  Year Ended December 31, 2013
           Total       
  Regulated International Commercial Reportable      
(in millions)Utilities Energy Power Segments Other Eliminations Total
Unaffiliated revenues(a)(b)(c)$ 20,871 $ 1,546 $ 2,106 $ 24,523 $ 75 $ ― $ 24,598
Intersegment revenues  39   ―   39   78   88   (166)   ―
 Total revenues$ 20,910 $ 1,546 $ 2,145 $ 24,601 $ 163 $ (166) $ 24,598
Interest expense$ 986 $86 $ 64 $ 1,136 $ 417 $ (7) $ 1,546
Depreciation and amortization  2,323  100   250   2,673   135   ―   2,808
Equity in earnings of unconsolidated affiliates  (1)  110   7   116   6   ―   122
Income tax expense (benefit)  1,522  166   (104)   1,584   (323)   ―   1,261
Segment income(a)(b)(c)(d)(e)(f)(g)  2,504  408   (3)   2,909   (261)   ―   2,648
Add back noncontrolling interest component                    11
Income from discontinued operations, net of tax                    17
Net income                  $ 2,676
Capital investments expenditures and acquisitions$ 5,049 $ 67 $ 268 $ 5,384 $ 223 $ ― $ 5,607
Segment assets  99,884   4,998   6,955   111,837   2,754   188   114,779
                      
(a)In May 2013, Duke Energy Ohio implemented revised customer rates approved by the PUCO. This increase impacts Regulated Utilities. See Note 4 for additional information about the revised customer rates.
(b)In June 2013, Duke Energy Progress implemented revised customer rates approved by the NCUC. This increase impacts Regulated Utilities. See Note 4 for additional information about the revised customer rates.
(c)In September 2013, Duke Energy Carolinas implemented revised rates approved by the NCUC and the PSCSC. This increase impacts Regulated Utilities. See Note 4 for additional information about the revised customer rates.
(d)Regulated Utilities recorded charges related to Duke Energy Florida's Crystal River Unit 3. See Note 4 for additional information about the Crystal River Unit 3 charges.
(e)Regulated Utilities recorded an impairment charge related to Duke Energy Progress' Shearon Harris Nuclear Station (Harris) site. Regulated Utilities also recorded an impairment charge related to Duke Energy Florida's proposed nuclear plant in Levy County, Florida (Levy) site. See Note 4 for additional information about the Harris site and Levy site impairments.
(f)Other includes after-tax costs to achieve the merger with Progress Energy. See Notes 2 and 25 for additional information about the merger and related costs.
(g)Other includes gain from the sale of Duke Energy's ownership interest in DukeNet. See Note 12 for additional information on the sale of DukeNet.

                      
  Year Ended December 31, 2012
           Total       
  Regulated  International Commercial  Reportable      
(in millions)Utilities Energy Power Segments Other Eliminations Total
Unaffiliated revenues$ 16,042 $ 1,549 $ 2,020 $ 19,611 $ 13 $ ― $ 19,624
Intersegment revenues  38   ―   58   96   47   (143)   ―
 Total revenues$ 16,080 $ 1,549 $ 2,078 $ 19,707 $ 60 $ (143) $ 19,624
Interest expense$ 806 $ 77 $ 63 $ 946 $ 296 $ ― $ 1,242
Depreciation and amortization  1,827   99   228   2,154   135   ―   2,289
Equity in earnings of unconsolidated affiliates  (5)   134   14   143   5   ―   148
Income tax expense (benefit)  942   149   (8)   1,083   (378)   ―   705
Segment income(a)(b)  1,744   439   87   2,270   (538)   ―   1,732
Add back noncontrolling interest component                    14
Income from discontinued operations, net of tax                    36
Net income                  $ 1,782
Capital investments expenditures and acquisitions$ 4,220 $ 551 $ 1,038 $ 5,809 $ 149 $ ― $ 5,958
Segment assets  98,162   5,406   6,992   110,560   3,126   170   113,856
                      
(a)Regulated Utilities recorded charges related to Duke Energy Indiana's IGCC project. See Note 4 for additional information about these charges. Regulated Utilities also recorded the reversal of expenses of $60 million related to a prior year Voluntary Opportunity Plan in accordance with Duke Energy Carolinas' 2011 rate case. See Note 19 for additional information about these expenses.
(b)Other includes after-tax costs to achieve the merger with Progress Energy. See Notes 2 and 25 for additional information about the merger and related costs.

                     
  Year Ended December 31, 2011
                  
  Regulated International Commercial Power Total Reportable     
(in millions)Utilities Energy Energy Segments(a)Other Eliminations Total
Unaffiliated revenues$ 10,586 $ 1,467 $ 2,480 $ 14,533$ (4) $ ― $ 14,529
Intersegment revenues  33   ―   11   44  48   (92)   ―
 Total revenues$ 10,619 $ 1,467 $ 2,491 $ 14,577$ 44 $ (92) $ 14,529
Interest expense$ 568 $ 47 $ 87 $ 702$ 157 $ ― $ 859
Depreciation and amortization  1,383   90   230   1,703  103   ―   1,806
Equity in earnings of unconsolidated affiliates  ―   145   6   151  9   ―   160
Income tax expense (benefit)  674   196   (2)   868  (116)   ―   752
Segment income(a)(b)  1,181   466   134   1,781  (76)   ―   1,705
Add back noncontrolling interest component                   8
Income from discontinued operations, net of tax                   1
Net income                 $ 1,714
Capital investments expenditures and acquisitions$ 3,717 $ 114 $ 492 $ 4,323$ 141 $ ― $ 4,464
Segment assets  47,977   4,539   6,939   59,455  2,961   110   62,526
                     
(a)Regulated Utilities recorded charges related to Duke Energy Indiana's IGCC project. See Note 4 for additional information about these charges.
(b)Commercial Power recorded charges to write-down the carrying value of certain emission allowances. See Note 11 for additional information about these charges.
                     

The following table includes information by geographic segment.
          
(in millions)U.S. Latin America(a) Consolidated
2013        
Consolidated revenues$ 23,053 $ 1,545 $ 24,598
Consolidated long-lived assets  78,581   2,781   81,362
2012        
Consolidated revenues$ 18,078 $ 1,546 $ 19,624
Consolidated long-lived assets  79,144   2,467   81,611
2011        
Consolidated revenues$ 13,062 $ 1,467 $ 14,529
Consolidated long-lived assets  45,920   2,612   48,532
          
(a)Change in amounts of long-lived assets in Latin America includes foreign currency translation adjustments on property, plant and equipment and other long-lived asset balances.
          

Duke Energy Ohio

Duke Energy Ohio has two reportable operating segments, Regulated Utilities and Commercial Power.

Regulated Utilities transmits and distributes electricity in portions of Ohio and generates, distributes and sells electricity in portions of Kentucky. Regulated Utilities also transports and sells natural gas in portions of Ohio and northern Kentucky. It conducts operations primarily through Duke Energy Ohio and its wholly owned subsidiary, Duke Energy Kentucky.

Commercial Power owns, operates and manages power plants and engages in the wholesale marketing and procurement of electric power, fuel and emission allowances related to these plants, as well as other contractual positions.

The remainder of Duke Energy Ohio's operations is presented as Other. While it is not considered an operating segment, Other primarily includes certain governance costs allocated by its parent, Duke Energy. See Note 13 for additional information. All of Duke Energy Ohio's revenues are generated domestically and its long-lived assets are all in the U.S.

  Year Ended December 31, 2013
(in millions)Regulated Utilities Commercial PowerTotal Reportable Segments Other Eliminations Total
Unaffiliated revenues(a)$ 1,765 $ 1,480$ 3,245 $ ― $ ― $ 3,245
Intersegment revenues  ―   32  32   ―   (32)   ―
 Total revenues$ 1,765 $ 1,512$ 3,277 $ ― $ (32) $ 3,245
Interest expense$ 74 $ 4$ 78 $ ― $ ― $ 78
Depreciation and amortization  200   154  354   ―   ―   354
Income tax expense (benefit)  91   (14)  77   (2)   ―   75
Segment income/consolidated net income  151   (20)  131   (29)   ―   102
Capital expenditures  375   58  433   ―   ―   433
Segment assets  6,649   4,170  10,819   99   (155)   10,763
                  
(a)Duke Energy Ohio earned approximately 37 percent of its consolidated operating revenues from PJM Interconnection, LLC (PJM) in 2013, all of which is included in the Commercial Power segment. These revenues relate to the sale of capacity and electricity from Commercial Power's nonregulated generation assets.
                  
  Year Ended December 31, 2012
(in millions)Regulated Utilities Commercial PowerTotal Reportable Segments Other Eliminations Total
Unaffiliated revenues(a)$ 1,745 $ 1,407$ 3,152 $ ― $ ― $ 3,152
Intersegment revenues  1   51  52   ―   (52)   ―
 Total revenues$ 1,746 $ 1,458$ 3,204 $ ― $ (52) $ 3,152
Interest expense$ 61 $ 28$ 89 $ ― $ ― $ 89
Depreciation and amortization  179   159  338   ―   ―   338
Income tax expense (benefit)  91   25  116   (18)   ―   98
Segment income/consolidated net income  159   50  209   (34)   ―   175
Capital expenditures  427   87  514   ―   ―   514
Segment assets  6,434   4,175  10,609   117   (166)   10,560
                  
(a)Duke Energy Ohio earned approximately 36 percent of its consolidated operating revenues from PJM in 2012, all of which is included in the Commercial Power segment. These revenues relate to the sale of capacity and electricity from Commercial Power's nonregulated generation assets.
                  
  Year Ended December 31, 2011
(in millions)Regulated Utilities Commercial PowerTotal Reportable Segments Other Eliminations Total
Unaffiliated revenues(a)$ 1,474 $ 1,707$ 3,181 $ ― $ ― $ 3,181
Intersegment revenues  ―   4  4   ―   (4)   ―
 Total revenues$ 1,474 $ 1,711$ 3,185 $ ― $ (4) $ 3,181
Interest expense$ 68 $ 36$ 104 $ ― $ ― $ 104
Depreciation and amortization  168   167  335   ―   ―   335
Income tax expense (benefit)  98   6  104   (8)   ―   96
Segment income/consolidated net income(b)  133   78  211   (17)   ―   194
Capital expenditures  375   124  499   ―   ―   499
Segment assets  6,293   4,740  11,033  259   (353)   10,939
                  
(a)Duke Energy Ohio earned approximately 24 percent of its consolidated operating revenues from PJM in 2011, all of which is included in the Commercial Power segment. These revenues relate to the sale of capacity and electricity from Commercial Power's nonregulated generation assets.
(b)Commercial Power recorded charges during the year ended December 31, 2011, to write-down the carrying value of certain emission allowances. See Note 11 for additional information.
                  

Duke Energy Carolinas, PROGRESS ENERGY, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana

Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana each have one reportable operating segment, Regulated Utility, which generates, transmits, distributes and sells electricity. The remainder of each company's operations is classified as Other. While not considered a reportable segment for any of these companies, Other consists of certain unallocated corporate costs. Other for Progress Energy also includes interest expense on corporate debt instruments of $300 million, $304 million and $324 million for the years ended December 31, 2013, 2012 and 2011. The following table summarizes the net loss for Other for each of these entities.

          
  Years Ended December 31,
(in millions)2013  2012 2011
Duke Energy Carolinas$ (97) $ (169) $ (46)
Progress Energy  (241)   (379)   (273)
Duke Energy Progress  (46)   (139)   (18)
Duke Energy Florida  (24)   (58)   (16)
Duke Energy Indiana  (16)   (27)   (12)
          

Duke Energy Progress earned approximately 10 percent of its consolidated operating revenues from North Carolina Electric Membership Corporation (NCEMC) in 2013. These revenues relate to wholesale contracts and transmission revenues. The respective Regulated Utility and Regulated Utilities operating segments own substantially all of Duke Energy Carolinas', Progress Energy's, Duke Energy Progress', Duke Energy Florida's and Duke Energy Indiana's assets at December 31, 2013, 2012 and 2011.