Business Segments

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Business Segments

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 Condensed Consolidated Financial Statements. Certain governance costs are allocated to each segment. In addition, direct interest expense and income taxes are included in segment income.

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 following tables exclude all intercompany assets.

DUKE ENERGY

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

RegulatedUtilities conducts operations primarily through Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, and the regulated transmission and distribution operations of Duke Energy Ohio. These electric and natural gas operations are subject to the rules and regulations of the FERC, NRC, 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 builds, develops and operates wind and solar renewable generation and energy transmission projects throughout the continental U.S. As discussed in Note 2, Duke Energy completed the sale of Commercial Power's nonregulated Midwest generation business to Dynegy in a transaction that closed on April 2, 2015. The results of operations of the nonregulated Midwest generation business have been classified as Discontinued Operations on the Condensed Consolidated Statements of Operations for all periods presented. Certain costs such as interest and general and administrative expenses previously allocated to the Disposal Group were not reclassified to discontinued operations. As a result of the sale, Commercial Power will no longer qualify as a Duke Energy Ohio reportable operating segment. The remaining assets and related results of operations previously reported in Commercial Power will be presented as Other.

Theremainder 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.

	Three Months Ended March 31, 2015
(in millions)	Regulated Utilities		International Energy		Commercial Power		Total Reportable Segments		Other			Eliminations			Consolidated
Unaffiliated revenues	$	5,713	$	273	$	73	$	6,059	$	6		$	—		$	6,065
Intersegment revenues	10		—		—		10		21			(31		)	—
Total revenues	$	5,723	$	273	$	73	$	6,069	$	27		$	(31	)	$	6,065
Segment income (loss)(a)	$	774	$	36	$	1	$	811	$	(37	)	$	(1	)	$	773
Add back noncontrolling interests component															3
Income from discontinued operations, net of tax															91
Net income															$	867
Segment assets	$	106,642	$	4,892	$	6,202	$	117,736	$	4,230		$	176		$	122,142

(a)    Other includes after-tax costs to achieve the Progress Energy merger of $13 million.

	Three Months Ended March 31, 2014
(in millions)	Regulated Utilities		International Energy		Commercial Power			Total Reportable Segments		Other			Eliminations			Consolidated
Unaffiliated revenues	$	5,795	$	382	$	81		$	6,258	$	5		$	—		$	6,263
Intersegment revenues	10		—		—			10		20			(30		)	—
Total revenues	$	5,805	$	382	$	81		$	6,268	$	25		$	(30	)	$	6,263
Segment income (loss)(a)(b)	$	737	$	130	$	(32	)	$	835	$	(87	)	$	(2	)	$	746
Add back noncontrolling interest																4
Loss from discontinued operations, net of tax																(843		)
Net loss																$	(93	)

(a) Commercial Power recorded a pretax impairment charge of $94 million related to Ohio Valley Electric Corporation (OVEC). See Note 12 for additional information.

(b)    Other includes after-tax costs to achieve the Progress Energy merger of $34 million.

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.

As discussed in Note 2, Duke Energy completed the sale of Commercial Power's nonregulated Midwest generation business to Dynegy in a transaction that closed on April 2, 2015. The results of operations of the nonregulated Midwest generation business have been classified as Discontinued Operations on the Condensed Consolidated Statements of Operations and Comprehensive Income for all periods presented. Amounts remaining in Commercial Power relate to assets not included in the Disposal Group. Certain costs such as interest and general and administrative expenses previously allocated to the Disposal Group were not reclassified to discontinued operations. As a result of the sale, Commercial Power will no longer qualify as a Duke Energy Ohio reportable operating segment. The remaining assets and related results of operations previously reported in Commercial Power will be presented as Other.

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 8 for additional information. All of Duke Energy Ohio’s revenues are generated domestically and its long-lived assets are all in the U.S.

	Three Months Ended March 31, 2015
(in millions)	Regulated Utilities		Commercial Power			Total Reportable Segments		Other			Eliminations			Consolidated
Unaffiliated revenues	$	572	$	14		$	586	$	—		$	—		$	586
Total revenues	$	572	$	14		$	586	$	—		$	—		$	586
Segment income (loss)	$	70	$	(9	)	$	61	$	(2	)	$	—		$	59
Income from discontinued operations, net of tax														90
Net income														$	149
Segment assets	$	6,782	$	2,984		$	9,766	$	43		$	(13	)	$	9,796

	Three Months Ended March 31, 2014
(in millions)	Regulated Utilities		Commercial Power			Total Reportable Segments			Other			Eliminations		Consolidated
Unaffiliated revenues	$	562	$	13		$	575		$	—		$	—	$	575
Total revenues	$	562	$	13		$	575		$	—		$	—	$	575
Segment income (loss)(a)	$	61	$	(74	)	$	(13	)	$	(2	)	$	—	$	(15	)
Loss from discontinued operations, net of tax														(875		)
Net loss														$	(890	)

(a)    Commercial Power recorded a pretax impairment charge of $94 million related to OVEC. See Note 12 for additional information.

DUKE ENERGY CAROLINAS, PROGRESS ENERGY, DUKE ENERGY PROGRESS, DUKE ENERGY FLORIDA AND DUKE ENERGY INDIANA

The remaining Subsidiary Registrants 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. The following table summarizes the net loss for Other at each of these registrants.

	Three Months Ended March 31,
(in millions)	2015			2014
Duke Energy Carolinas	$	(8	)	$	(21	)
Progress Energy(a)	(42		)	(52		)
Duke Energy Progress	(4		)	(10		)
Duke Energy Florida	(3		)	(4		)
Duke Energy Indiana	(2		)	(3		)

(a) Other for Progress Energy also includes interest expense on corporate debt instruments of $60 million and $63 million for the three months ended March 31, 2015 and 2014, respectively.

The respective Regulated Utility operating segments include substantially all of Duke Energy Carolinas’, Progress Energy’s, Duke Energy Progress’, Duke Energy Florida’s and Duke Energy Indiana’s assets at March 31, 2015 and 2014.