Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule of Debt

The following tables show short-term obligations classified as long-term debt.

	December 31, 2014
(in millions)	Duke Energy		Duke Energy Carolinas		Duke Energy Ohio		Duke Energy Indiana
Tax-exempt bonds	$	347	$	35	$	27	$	285
Commercial paper	475		300		25		150
Secured debt(a)	200		—		—		—
Total	$	1,022	$	335	$	52	$	435

	December 31, 2013
(in millions)	Duke Energy		Duke Energy Carolinas		Duke Energy Ohio		Duke Energy Indiana
Tax exempt bonds	$	471	$	75	$	111	$	285
Commercial paper	450		300		—		150
Secured debt(a)	200		—		—		—
Total	$	1,121	$	375	$	111	$	435

(a) Instrument has a term of less than one year with the right to extend the maturity date for additional one-year periods with a final maturity date no later than December 2026.

The following table shows the significant components of Current maturities of Long-Term Debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.

(in millions)	Maturity Date	Interest Rate		December 31, 2014
Unsecured Debt
Duke Energy (Parent)	April 2015	3.350	%	$	450
First Mortgage Bonds
Duke Energy Ohio	March 2015	0.375	%	150
Duke Energy Progress	April 2015	5.150	%	300
Duke Energy Carolinas	October 2015	5.300	%	500
Duke Energy Florida	November 2015	0.650	%	250
Duke Energy Florida	December 2015	5.100	%	300
Duke Energy Progress	December 2015	5.250	%	400
Tax-exempt Bonds
Duke Energy Progress	January 2015	0.108	%	243
Other				214
Current maturities of long-term debt				$	2,807

The following tables summarize outstanding debt.

	December 31, 2014
(in millions)	Weighted Average Interest Rate		Duke Energy			Duke Energy Carolinas			Progress Energy			Duke Energy Progress			Duke Energy Florida			Duke Energy Ohio			Duke Energy Indiana
Unsecured debt, maturing 2015 - 2073	4.92	%	$	12,937		$	1,155		$	3,850		$	—		$	150		$	773		$	742
Secured debt, maturing 2016 - 2037	2.50	%	2,806			400			525			300			225			—			—
First mortgage bonds, maturing 2015 - 2044(a)	4.76	%	19,180			6,161			9,800			5,475			4,325			900			2,319
Capital leases, maturing 2015 - 2051(b)	5.30	%	1,428			27			314			146			168			20			16
Tax-exempt bonds, maturing 2015 - 2041(c)	2.13	%	1,296			355			291			291			—			77			573
Notes payable and commercial paper(d)	0.70	%	2,989			—			—			—			—			—			—
Money pool/intercompany borrowings			—			300			835			—			84			516			221
Fair value hedge carrying value adjustment			8			8			—			—			—			—			—
Unamortized debt discount and premium, net(e)			1,890			(15		)	(26		)	(11		)	(8		)	(29		)	(9		)
Total debt	4.29	%	$	42,534		$	8,391		$	15,589		$	6,201		$	4,944		$	2,257		$	3,862
Short-term notes payable and commercial paper			(2,514		)	—			—			—			—			—			—
Short-term money pool borrowings			—			—			(835		)	—			(84		)	(491		)	(71		)
Current maturities of long-term debt(f)			(2,807		)	(507		)	(1,507		)	(945		)	(562		)	(157		)	(5		)
Total long-term debt(f)	4.58	%	$	37,213		$	7,884		$	13,247		$	5,256		$	4,298		$	1,609		$	3,786

(a)    Substantially all electric utility property is mortgaged under mortgage bond indentures.

(b) Duke Energy includes $129 million and $787 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP.

(c) Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit.

(d) Includes $475 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted-average days to maturity was 27 days.

(e) Duke Energy includes $1,975 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information.

(f) Refer to Note 17 for additional information on amounts from consolidated VIE’s.

	December 31, 2013
(in millions)	Weighted Average Interest Rate		Duke Energy			Duke Energy Carolinas			Progress Energy			Duke Energy Progress			Duke Energy Florida			Duke Energy Ohio			Duke Energy Indiana
Unsecured debt, maturing 2014 - 2073	5.18	%	$	13,550		$	1,157		$	4,150		$	—		$	150		$	805		$	744
Secured debt, maturing 2014 - 2037	2.69	%	2,559			400			305			305			—			—			—
First mortgage bonds, maturing 2015 - 2043(a)	4.90	%	17,831			6,161			8,450			4,125			4,325			900			2,319
Capital leases, maturing 2014 - 2051(b)	5.23	%	1,516			30			327			148			179			27			20
Other debt, maturing 2027	4.77	%	8			—			—			—			—			8			—
Tax-exempt bonds, maturing 2014 - 2041(c)	1.28	%	2,356			395			910			669			241			479			573
Notes payable and commercial paper(d)	1.02	%	1,289			—			—			—			—			—			—
Money pool/intercompany borrowings			—			300			1,213			462			181			43			150
Fair value hedge carrying value adjustment			9			9			—			—			—			—			—
Unamortized debt discount and premium, net(e)			1,977			(16		)	(27		)	(12		)	(9		)	(31		)	(10		)
Total debt	4.52	%	$	41,095		$	8,436		$	15,328		$	5,697		$	5,067		$	2,231		$	3,796
Short-term notes payable and commercial paper			(839		)	—			—			—			—			—			—
Short-term money pool borrowings			—			—			(1,213		)	(462		)	(181		)	(43		)	—
Current maturities of long-term debt(f)			(2,104		)	(47		)	(485		)	(174		)	(11		)	(47		)	(5		)
Total long-term debt(f)	4.59	%	$	38,152		$	8,389		$	13,630		$	5,061		$	4,875		$	2,141		$	3,791

(a)    Substantially all electric utility property is mortgaged under mortgage bond indentures.

(b) Duke Energy includes $144 million and $838 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP.

(c) Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit.

(d) Includes $450 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted-average days to maturity was 49 days.

(e) Duke Energy includes $2,067 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information.

(f) Refer to Note 17 for additional information on amounts from consolidated VIE’s.

Schedule of Maturities of Long-term Debt

The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable and commercial paper and money pool borrowings for the Subsidiary Registrants.

	December 31, 2014
(in millions)	Duke Energy(a)		Duke Energy Carolinas		Progress Energy		Duke Energy Progress		Duke Energy Florida		Duke Energy Ohio		Duke Energy Indiana
2015	$	2,793	$	507	$	1,507	$	945	$	562	$	157	$	5
2016	2,980		756		614		302		12		57		480
2017	2,452		116		940		453		487		3		3
2018	3,207		1,505		515		3		512		28		153
2019	2,810		5		1,418		606		12		552		62
Thereafter	23,803		5,502		9,760		3,892		3,275		969		3,088
Total long-term debt, including current maturities	$	38,045	$	8,391	$	14,754	$	6,201	$	4,860	$	1,766	$	3,791

(a) Excludes $1,975 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information.

Schedule of Long-term Debt Instruments

The following tables summarize significant debt issuances (in millions).

				Year Ended December 31, 2014
Issuance Date	Maturity Date	Interest Rate		Duke Energy (Parent)		Duke Energy Progress		Duke Energy Florida		Duke Energy
Unsecured Debt
April 2014(a)	April 2024	3.750	%	600		—		—		600
April 2014(a)(b)	April 2017	0.613	%	400		—		—		400
June 2014(c)	May 2019	11.970	%	—		—		—		108
June 2014(c)	May 2021	13.680	%	—		—		—		110
Secured Debt
March 2014(d)	March 2017	0.863	%	—		—		225		225
July 2014(e)	July 2036	5.340	%	—		—		—		129
First Mortgage Bonds
March 2014(f)	March 2044	4.375	%	—		400		—		400
March 2014(f)(g)	March 2017	0.435	%	—		250		—		250
November 2014(h)	December 2044	4.150	%	—		500		—		500
November 2014(g)(h)	November 2017	0.432	%	—		200		—		200
Total issuances				$	1,000	$	1,350	$	225	$	2,922

(a) Proceeds were used to redeem $402 million of tax-exempt bonds at Duke Energy Ohio, the repayment of outstanding commercial paper and for general corporate purposes. See Note 13 for additional information related to the redemption of Duke Energy Ohio's tax-exempt bonds.

(b) The debt is floating rate based on three-month London Interbank Offered Rate (LIBOR) plus a fixed credit spread of 38 basis points.

(c) Proceeds were used to repay $196 million of debt for International Energy and for general corporate purposes.

(d) Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Florida. Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. See Note 17 for further details.

(e) Proceeds were used to fund a portion of Duke Energy's prior investment in the existing Wind Star renewables portfolio.

(f) Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes.

(g) The debt is floating rate based on three-month LIBOR plus a fixed credit spread of 20 basis points.

(h) Proceeds will be used to redeem $450 million of tax-exempt bonds, repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes.

				Year Ended December 31, 2013
Issuance Date	Maturity Date	Interest Rate		Duke Energy (Parent)		Duke Energy Progress		Duke Energy Ohio		Duke Energy Indiana		Duke Energy
Unsecured Debt
January 2013(a)	January 2073	5.125	%	$	500	$	—	$	—	$	—	$	500
June 2013(b)	June 2018	2.100	%	500		—		—		—		500
August 2013(c)(d)	August 2023	11.000	%	―		—		—		—		220
October 2013(e)	October 2023	3.950	%	400		—		—		—		400
Secured Debt
February 2013(f)(g)	December 2030	2.043	%	—		—		—		—		203
February 2013(f)	June 2037	4.740	%	—		—		—		—		220
April 2013(h)	April 2026	5.456	%	—		—		—		—		230
December 2013(i)	December 2016	0.852	%	—		300		—		—		300
First Mortgage Bonds
March 2013(j)	March 2043	4.100	%	—		500		—		—		500
July 2013(k)	July 2043	4.900	%	—		—		—		350		350
July 2013(k)(l)	July 2016	0.619	%	—		—		—		150		150
September 2013(m)	September 2023	3.800	%	—		—		300		—		300
September 2013(m)(n)	March 2015	0.400	%	—		—		150		—		150
Total issuances				$	1,400	$	800	$	450	$	500	$	4,023

(a) Callable after January 2018 at par. Proceeds were used to redeem the $300 million7.10% Cumulative Quarterly Income Preferred Securities (QUIPS) and to repay a portion of outstanding commercial paper and for general corporate purposes.

(b) Proceeds were used to repay $250 million of current maturities and for general corporate purposes, including the repayment of outstanding commercial paper.

(c) Proceeds were used to repay $200 million of current maturities. The maturity date included above applies to half of the instrument. The remaining half matures in August 2018.

(d) The debt is floating rate based on a consumer price index and an overnight funds rate in Brazil. The debt is denominated in Brazilian Real.

(e) Proceeds were used to repay commercial paper as well as for general corporate purposes.

(f) Represents the conversion of construction loans related to two renewable energy projects issued in December 2012 to term loans. No cash proceeds were received in conjunction with the conversion. The term loans have varying maturity dates. The maturity date presented represents the latest date for all components of the respective loans.

(g) The debt is floating rate. Duke Energy has entered into a pay fixed-receive floating interest rate swap for 95 percent of the loans.

(h) Represents the conversion of a $190 million bridge loan issued in conjunction with the acquisition of Ibener in December 2012. Duke Energy received incremental proceeds of $40 million upon conversion of the bridge loan. The debt is floating rate and is denominated in U.S. dollars. Duke Energy has entered into a pay fixed-receive floating interest rate swap for 75 percent of the loan.

(i) Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Progress; the proceeds were used to repay short-term debt. See Note 17 for further details.

(j) Proceeds were used to repay notes payable to affiliated companies as well as for general corporate purposes.

(k) Proceeds were used to repay $400 million of current maturities.

(l) The debt is floating rate based on three-month LIBOR and a fixed credit spread of 35 basis points.

(m) Proceeds were used for general corporate purposes including the repayment of short-term notes payable, a portion of which was incurred to fund the retirement of $250 million of first mortgage bonds that matured in the first half of 2013.

(n) The debt is floating rate based on three-month LIBOR plus a fixed credit spread of 14 basis points.

Schedule Of Line Of Credit Facilities

The table below includes the current borrowing sublimits and available capacity under the Master Credit Facility.

	December 31, 2014
(in millions)	Duke Energy			Duke Energy (Parent)			Duke Energy Carolinas			Duke Energy Progress			Duke Energy Florida			Duke Energy Ohio			Duke Energy Indiana
Facility size(a)	$	6,000		$	2,250		$	1,000		$	750		$	650		$	650		$	700
Reduction to backstop issuances
Commercial paper(b)	(2,021		)	(1,479		)	(300		)	—			(29		)	(38		)	(175		)
Outstanding letters of credit	(70		)	(62		)	(4		)	(2		)	(1		)	—			(1		)
Tax-exempt bonds	(116		)	—			(35		)	—			—			—			(81		)
Available capacity	$	3,793		$	709		$	661		$	748		$	620		$	612		$	443

(a) Represents the sublimit of each borrower.

(b) Duke Energy issued $475 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets.