Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2014

Variable Interest Entities [Line Items]

The following table outlines amounts and expiration dates of the credit facilities.



	DERF		DEPR		DEFR
Credit facility amount (in millions)	$	400	$	300	$	225
Expiration date	October 2016		December 2016		March 2017

Variable Interest Entity, Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The tables below show VIEs consolidated and how these entities impact the Condensed Consolidated Balance Sheets.



	September 30, 2014
	Duke Energy
	Duke Energy Carolinas		Duke Energy Progress		Duke Energy Florida
(in millions)	DERF		DEPR		DEFR		CRC		Renewables			Other			Total
ASSETS
Current Assets
Restricted receivables of variable interest entities (net of allowance for doubtful accounts)	$	695	$	474	$	403	$	465	$	12		$	20		$	2,069
Other	—		—		—		—		141			13			154
Investments and Other Assets
Other	—		—		—		—		29			34			63
Property, Plant and Equipment
Property, plant and equipment, cost^(a)	—		—		—		—		1,856			18			1,874
Accumulated depreciation and amortization	—		—		—		—		(232		)	(5		)	(237		)
Regulatory Assets and Deferred Debits
Other	1		—		1		—		35			—			37
Total assets	$	696	$	474	$	404	$	465	$	1,841		$	80		$	3,960
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	—	$	—	$	—	$	—	$	2		$	—		$	2
Taxes accrued	—		—		—		—		6			—			6
Current maturities of long-term debt	—		—		—		—		67			16			83
Other	—		—		—		—		26			12			38
Long-Term Debt(b)	400		300		225		325		989			21			2,260
Deferred Credits and Other Liabilities
Deferred income taxes	—		—		—		—		292			—			292
Asset retirement obligations	—		—		—		—		31			—			31
Other	—		—		—		—		33			10			43
Total liabilities	$	400	$	300	$	225	$	325	$	1,446		$	59		$	2,755
Net assets of consolidated variable interest entities	$	296	$	174	$	179	$	140	$	395		$	21		$	1,205

(a) Restricted as collateral for non-recourse debt of VIEs.

(b) Non-recourse to the general assets of the applicable registrant.



	December 31, 2013
	Duke Energy
	Duke Energy Carolinas		Duke Energy Progress
(in millions)	DERF		DEPR		CRC		Renewables			Other			Total
ASSETS
Current Assets
Restricted receivables of variable interest entities (net of allowance for doubtful accounts)	$	673	$	416	$	595	$	18		$	17		$	1,719
Other	—		—		—		89			12			101
Investments and Other Assets
Other	—		—		—		29			51			80
Property, Plant and Equipment
Property, plant and equipment, cost^(a)	—		—		—		1,662			18			1,680
Accumulated depreciation and amortization	—		—		—		(170		)	(5		)	(175		)
Regulatory Assets and Deferred Debits
Other	1		1		—		34			—			36
Total assets	$	674	$	417	$	595	$	1,662		$	93		$	3,441
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	—	$	—	$	—	$	2		$	—		$	2
Taxes accrued	—		—		—		10			—			10
Current maturities of long-term debt	—		—		—		66			14			80
Other	—		—		—		17			10			27
Long-Term Debt(b)	400		300		325		907			34			1,966
Deferred Credits and Other Liabilities
Deferred income taxes	—		—		—		290			—			290
Asset retirement obligations	—		—		—		26			—			26
Other	1		—		—		17			13			31
Total liabilities	$	401	$	300	$	325	$	1,335		$	71		$	2,432
Net assets of consolidated variable interest entities	$	273	$	117	$	270	$	327		$	22		$	1,009

(a) Restricted as collateral for non-recourse debt of VIEs.

(b) Non-recourse to the general assets of the applicable registrant.

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The tables below show VIEs not consolidated and how these entities impact the Condensed Consolidated Balance Sheets.



	September 30, 2014
	Duke Energy							Duke Energy Ohio		Duke Energy Indiana
(in millions)	Renewables		Other			Total		Duke Energy Ohio		Duke Energy Indiana
Receivables	$	—	$	—		$	—	$	49	$	76
Investments in equity method unconsolidated affiliates	149		3			152		—		$	—
Investments and other assets	—		4			4		—		—
Total assets	$	149	$	7		$	156	$	49	$	76
Other current liabilities	$	—	$	2		$	2	$	—	$	—
Deferred credits and other liabilities	—		14			14		—		—
Total liabilities	$	—	$	16		$	16	$	—	$	—
Net assets (liabilities)	$	149	$	(9	)	$	140	$	49	$	76



	December 31, 2013
	Duke Energy						Duke Energy Ohio		Duke Energy Indiana
(in millions)	Renewables		Other		Total		Duke Energy Ohio		Duke Energy Indiana
Receivables	$	—	$	—	$	—	$	114	$	143
Investments in equity method unconsolidated affiliates	153		60		213		—		—
Intangibles, net	—		96		96		96		—
Investments and other assets	—		4		4		—		—
Total assets	$	153	$	160	$	313	$	210	$	143
Other current liabilities	$	—	$	3	$	3	$	—	$	—
Deferred credits and other liabilities	—		15		15		—		—
Total liabilities	$	—	$	18	$	18	$	—	$	—
Net assets	$	153	$	142	$	295	$	210	$	143

Cinergy Receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following table shows sales and cash flows related to receivables sold.



	Duke Energy Ohio								Duke Energy Indiana
	Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2014		2013		2014		2013		2014		2013		2014		2013
Sales
Receivables sold	$	477	$	514	$	1,705	$	1,664	$	739	$	765	$	2,173	$	2,214
Loss recognized on sale	3		3		9		9		3		2		8		8
Cash flows
Cash proceeds from receivables sold	494		518		1,761		1,674		759		758		2,233		2,204
Collection fees received	—		—		1		1		—		—		1		1
Return received on retained interests	—		1		3		4		2		2		5		5

Key assumptions used in estimating fair value are detailed in the following table.



	Duke Energy Ohio				Duke Energy Indiana
	2014		2013		2014		2013
Anticipated credit loss ratio	0.6	%	0.6	%	0.3	%	0.3	%
Discount rate	1.2	%	1.2	%	1.2	%	1.2	%
Receivable turnover rate	12.8	%	12.8	%	10.5	%	10.3	%

The following table shows the gross and net receivables sold.



	Duke Energy Ohio				Duke Energy Indiana
(in millions)	September 30, 2014		December 31, 2013		September 30, 2014		December 31, 2013
Receivables sold	$	216	$	290	$	287	$	340
Less: Retained interests	49		114		76		143
Net receivables sold	$	167	$	176	$	211	$	197

- 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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