Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2015

Variable Interest Entity, Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

The following table summarizes the amounts and expiration dates of the credit facilities reflected on the Condensed Consolidated Balance Sheets as Long-Term Debt.



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

The following tables summarize the impact of VIEs consolidated by Duke Energy and the Subsidiary Registrants on the Condensed Consolidated Balance Sheets.



	September 30, 2015
	Duke Energy
	Duke		Duke		Duke
	Energy		Energy		Energy
	Carolinas		Progress		Florida
(in millions)	DERF		DEPR^(c)		DEFR^(c)		CRC		Renewables			Other			Total
ASSETS
Current Assets
Cash and Cash Equivalents	$	—	$	—	$	—	$	—	$	2		$	—		$	2
Restricted receivables of variable interest entities (net of allowance for doubtful accounts)	687		468		395		453		12			22			2,037
Other	—		1		2		—		215			4			222
Investments and Other Assets
Other	—		—		—		—		20			5			25
Property, Plant and Equipment
Property, plant and equipment, cost^(a)	—		—		—		—		1,926			19			1,945
Accumulated depreciation and amortization	—		—		—		—		(302		)	(5		)	(307		)
Regulatory Assets and Deferred Debits
Other	—		—		—		—		37			1			38
Total assets	$	687	$	469	$	397	$	453	$	1,910		$	46		$	3,962
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	—	$	—	$	—	$	—	$	6		$	—		$	6
Taxes accrued	5		3		1		—		6			—			15
Current maturities of long-term debt	—		—		—		—		73			18			91
Other	—		—		—		—		23			4			27
Long-Term Debt^(b)	400		300		225		325		916			3			2,169
Deferred Credits and Other Liabilities
Deferred income taxes	—		—		—		—		325			—			325
Asset retirement obligations	—		—		—		—		30			—			30
Other	—		—		—		—		42			—			42
Total liabilities	$	405	$	303	$	226	$	325	$	1,421		$	25		$	2,705
Net assets of consolidated variable interest entities	$	282	$	166	$	171	$	128	$	489		$	21		$	1,257

(a) Restricted as collateral for nonrecourse debt of VIEs.

(b) Nonrecourse to the general assets of the applicable registrant.


(c)	The amount for Progress Energy is equal to the sum of the amounts for Duke Energy Progress Receivables Company, LLC (DEPR) and Duke Energy Florida Receivables Company, LLC (DEFR).



	December 31, 2014
	Duke Energy
	Duke		Duke		Duke
	Energy		Energy		Energy
	Carolinas		Progress		Florida
(in millions)	DERF		DEPR^(c)		DEFR^(c)		CRC		Renewables			Other			Total
ASSETS
Current Assets
Restricted receivables of variable interest entities (net of allowance for doubtful accounts)	$	647	$	436	$	305	$	547	$	20		$	18		$	1,973
Other	—		—		—		—		68			6			74
Investments and Other Assets
Other	—		—		—		—		25			25			50
Property, Plant and Equipment
Property, plant and equipment, cost^(a)	—		—		—		—		1,855			18			1,873
Accumulated depreciation and amortization	—		—		—		—		(250		)	(5		)	(255		)
Regulatory Assets and Deferred Debits
Other	—		—		—		—		34			2			36
Total assets	$	647	$	436	$	305	$	547	$	1,752		$	64		$	3,751
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	—	$	—	$	—	$	—	$	3		$	—		$	3
Taxes accrued	—		—		—		—		6			—			6
Current maturities of long-term debt	—		—		—		—		68			16			84
Other	—		—		—		—		16			5			21
Long-Term Debt^(b)	400		300		225		325		967			17			2,234
Deferred Credits and Other Liabilities
Deferred income taxes	—		—		—		—		283			—			283
Asset retirement obligations	—		—		—		—		29			—			29
Other	—		—		—		—		34			4			38
Total liabilities	$	400	$	300	$	225	$	325	$	1,406		$	42		$	2,698
Net assets of consolidated variable interest entities	$	247	$	136	$	80	$	222	$	346		$	22		$	1,053

(a) Restricted as collateral for nonrecourse debt of VIEs.

(b) Nonrecourse to the general assets of the applicable registrant.


(c)	The amount for Progress Energy is equal to the sum of the amounts for DEPR and DEFR.

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

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



	September 30, 2015
	Duke Energy						Duke		Duke
							Energy		Energy
(in millions)	Renewables		Other		Total		Ohio		Indiana
Receivables	$	—	$	—	$	—	$	43	$	64
Investments in equity method unconsolidated affiliates	223		125		348		—		—
Total assets	$	223	$	125	$	348	$	43	$	64
Other current liabilities	—		2		2		—		—
Deferred credits and other liabilities	—		14		14		—		—
Total liabilities	$	—	$	16	$	16	$	—	$	—
Net assets	$	223	$	109	$	332	$	43	$	64



	December 31, 2014
	Duke Energy						Duke		Duke
							Energy		Energy
(in millions)	Renewables		Other		Total		Ohio		Indiana
Receivables	$	—	$	—	$	—	$	91	$	113
Investments in equity method unconsolidated affiliates	150		38		188		—		—
Investments and other assets	—		4		4		—		—
Total assets	$	150	$	42	$	192	$	91	$	113
Other current liabilities	—		3		3		—		—
Deferred credits and other liabilities	—		14		14		—		—
Total liabilities	$	—	$	17	$	17	$	—	$	—
Net assets	$	150	$	25	$	175	$	91	$	113

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

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

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



	Duke Energy Ohio				Duke Energy Indiana
	2015		2014		2015		2014
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	12.9	%	12.8	%	10.6	%	10.5	%

The following table shows the gross and net receivables sold.



	Duke Energy Ohio				Duke Energy Indiana
(in millions)	September 30, 2015		December 31, 2014		September 30, 2015		December 31, 2014
Receivables sold	$	221	$	273	$	271	$	310
Less: Retained interests	43		91		64		113
Net receivables sold	$	178	$	182	$	207	$	197

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



	Duke Energy Ohio								Duke Energy Indiana
	Three Months Ended				Nine Months Ended				Three Months Ended				Nine Months Ended
	September 30,				September 30,				September 30,				September 30,
(in millions)	2015		2014		2015		2014		2015		2014		2015		2014
Sales
Receivables sold	$	449	$	477	$	1,518	$	1,705	$	679	$	739	$	2,032	$	2,173
Loss recognized on sale	2		3		7		9		3		3		8		8
Cash flows
Cash proceeds from receivables sold	461		494		1,568		1,761		692		759		2,074		2,233
Collection fees received	—		—		1		1		—		—		1		1
Return received on retained interests	—		—		2		3		1		2		4		5

- 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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