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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]  
Pension Plan Contributions
Duke Energy’s policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants. The following table includes information related to the Duke Energy Registrants’ contributions to its U.S. qualified defined benefit pension plans.
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Anticipated Contributions:  
  

 
  

 
  

 
  

 
  

 
  

 
  

2016
$
145

 
$
43

 
$
43

 
$
24

 
$
20

 
$
4

 
$
9

Contributions Made:  
  

 
  

 
  

 
  

 
  

 
  

 
  

2015
$
302

 
$
91

 
$
83

 
$
42

 
$
40

 
$
8

 
$
19

2014

 

 

 

 

 

 

2013
250

 

 
250

 
63

 
133

 

 

Employee Savings Plan Matching Contributions
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Years ended December 31,  
  
 
  
 
  
 
  
 
  
 
  
 
  
2015(a)
$
159

 
$
54

 
$
48

 
$
34

 
$
13

 
$
3

 
$
7

2014(a)
143

 
47

 
43

 
30

 
14

 
3

 
7

2013
134

 
45

 
45

 
25

 
14

 
3

 
7


(a)
For 2014 and 2015, amounts include the additional employer contribution of 4 percent of eligible pay per pay period for employees not eligible to participate in a defined benefit plan.
Master Trust [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Fair Value and Allocation of Plan Assets
The following tables provide the fair value measurement amounts for the Duke Energy Master Retirement Trust qualified pension and other post-retirement assets.
  
December 31, 2015
 
Total Fair

 
 
 
 
 
 
 
Not

(in millions)  
Value

 
Level 1

 
Level 2

 
Level 3

 
Categorized(b)

Equity securities  
$
2,160

 
$
1,470

 
$
2

 
$

 
688

Corporate debt securities  
4,362

 

 
4,362

 

 

Short-term investment funds  
404

 
192

 
212

 

 

Partnership interests  
185

 

 

 

 
185

Hedge funds  
210

 

 

 

 
210

Real estate limited partnerships  
118

 

 

 

 
118

U.S. government securities  
748

 

 
748

 

 

Guaranteed investment contracts  
31

 

 

 
31

 

Governments bonds – foreign  
34

 

 
34

 

 

Cash  
10

 
10

 

 

 

Government and commercial mortgage backed securities  
9

 

 
9

 

 

Net pending transactions and other investments  
(28
)
 
(36
)
 
8

 

 

Total assets(a)
$
8,243

 
$
1,636

 
$
5,375

 
$
31


$
1,201

(a)
Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana were allocated approximately 28 percent, 32 percent, 15 percent, 16 percent, 5 percent and 8 percent, respectively, of the Duke Energy Master Retirement Trust assets at December 31, 2015. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)
Certain investments are not categorized. These investments are measured based on the fair value of the underlying investments but may not be readily redeemable at that fair value.
  
December 31, 2014
 
Total Fair

 
 
 
 
 
 
 
Not

(in millions)  
Value

 
Level 1

 
Level 2

 
Level 3

 
Categorized(b)

Equity securities  
$
2,346

 
$
1,625

 
$
3

 
$

 
$
718

Corporate debt securities  
4,349

 

 
4,348

 
1

 

Short-term investment funds  
333

 
171

 
162

 

 

Partnership interests  
298

 

 

 

 
298

Hedge funds  
146

 

 

 

 
146

Real estate limited partnerships  
104

 

 

 

 
104

U.S. government securities  
917

 

 
916

 
1

 

Guaranteed investment contracts  
32

 

 

 
32

 

Governments bonds – foreign  
44

 

 
44

 

 

Cash  
30

 
30

 

 

 

Government and commercial mortgage backed securities  
9

 

 
9

 

 

Net pending transactions and other investments  
10

 
(10
)
 
20

 

 

Total assets(a)
$
8,618

 
$
1,816

 
$
5,502

 
$
34

 
$
1,266

(a)
Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana were allocated approximately 28 percent, 31 percent, 15 percent, 16 percent, 5 percent and 8 percent, respectively, of the Duke Energy Master Retirement Trust assets at December 31, 2014. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)
Certain investments are not categorized. These investments are measured based on the fair value of the underlying investments but may not be readily redeemable at that fair value.
The following table includes the target asset allocations by asset class at December 31, 2015 and the actual asset allocations for the Duke Energy Master Retirement Trust.
  
  
 
Actual Allocation at
 
 
 
December 31,
 
Target

 
 
 
 
  
Allocation

 
2015

 
2014

U.S. equity securities  
10
%
 
11
%
 
10
%
Non-U.S. equity securities  
8
%
 
8
%
 
8
%
Global equity securities  
10
%
 
10
%
 
10
%
Global private equity securities  
3
%
 
2
%
 
3
%
Debt securities  
63
%
 
63
%
 
63
%
Hedge funds  
2
%
 
2
%
 
3
%
Real estate and cash  
2
%
 
2
%
 
1
%
Other global securities  
2
%
 
2
%
 
2
%
Total  
100
%
 
100
%
 
100
%
Master Trust Level 3 Rollforward
The following table provides a reconciliation of beginning and ending balances of assets of master trusts measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3).
(in millions)  
2015

 
2014

Balance at January 1  
$
34

 
$
37

Sales  
(2
)
 
(4
)
Total gains (losses) and other, net  
(1
)
 
1

Balance at December 31  
$
31

 
$
34


Voluntary Employee Beneficiary Association [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Fair Value and Allocation of Plan Assets
The following table presents target and actual asset allocations for VEBA I at December 31, 2015.
  
  
 
Actual Allocation at
 
Target

 
December 31,
  
Allocation

 
2015

 
2014

U.S. equity securities  
30
%
 
29
%
 
29
%
Debt securities  
45
%
 
28
%
 
28
%
Cash  
25
%
 
43
%
 
43
%
Total  
100
%
 
100
%
 
100
%
The following tables provide the fair value measurement amounts for VEBA I other post-retirement assets.
  
December 31, 2015
 
Total Fair

 
 
 
 
 
 
(in millions)  
Value

 
Level 1

 
Level 2

 
Level 3

Cash and cash equivalents  
$
18

 

 
$
18

 

Equity securities  
12

 

 
12

 

Debt securities  
12

 

 
12

 

Total assets  
$
42

 

 
$
42

 

  
December 31, 2014
 
Total Fair

 
 
 
 
 
 
(in millions)  
Value

 
Level 1

 
Level 2

 
Level 3

Cash and cash equivalents  
$
21

 

 
$
21

 

Equity securities  
14

 

 
14

 

Debt securities  
13

 

 
13

 

Total assets  
$
48

 

 
$
48

 

 
Qualified Pension Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Pension Costs
  
Year Ended December 31, 2015
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Service cost  
$
159

 
$
50

 
$
44

 
$
23

 
$
20

 
$
4

 
$
10

Interest cost on projected benefit obligation  
324

 
83

 
104

 
48

 
54

 
18

 
27

Expected return on plan assets  
(516
)
 
(139
)
 
(171
)
 
(79
)
 
(87
)
 
(26
)
 
(42
)
Amortization of actuarial loss  
166

 
39

 
65

 
33

 
31

 
7

 
13

Amortization of prior service (credit) cost
(15
)
 
(7
)
 
(3
)
 
(2
)
 
(1
)
 

 
1

Other  
8

 
2

 
3

 
1

 
1

 

 
1

Net periodic pension costs(a)(b)
$
126

 
$
28

 
$
42

 
$
24

 
$
18

 
$
3

 
$
10

  
Year Ended December 31, 2014
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Service cost  
$
135

 
$
41

 
$
40

 
$
21

 
$
20

 
$
4

 
$
9

Interest cost on projected benefit obligation  
344

 
85

 
112

 
54

 
57

 
20

 
29

Expected return on plan assets  
(511
)
 
(132
)
 
(173
)
 
(85
)
 
(85
)
 
(27
)
 
(41
)
Amortization of actuarial loss  
150

 
36

 
68

 
32

 
32

 
4

 
13

Amortization of prior service credit   
(15
)
 
(8
)
 
(3
)
 
(2
)
 
(1
)
 

 

Other  
8

 
2

 
3

 
1

 
1

 

 
1

Net periodic pension costs(a)(b)
$
111

 
$
24

 
$
47

 
$
21

 
$
24

 
$
1

 
$
11

  
Year Ended December 31, 2013
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Service cost  
$
167

 
$
49

 
$
60

 
$
22

 
$
30

 
$
6

 
$
11

Interest cost on projected benefit obligation  
320

 
80

 
116

 
50

 
53

 
21

 
28

Expected return on plan assets  
(549
)
 
(148
)
 
(199
)
 
(94
)
 
(87
)
 
(31
)
 
(46
)
Amortization of actuarial loss  
244

 
60

 
101

 
46

 
49

 
13

 
24

Amortization of prior service (credit) cost   
(11
)
 
(6
)
 
(4
)
 
(1
)
 
(2
)
 

 
1

Other  
7

 
2

 
2

 
1

 
1

 

 
1

Net periodic pension costs(a)(b)
$
178

 
$
37

 
$
76

 
$
24

 
$
44

 
$
9

 
$
19


(a)
Duke Energy amounts exclude $9 million, $10 million, and $12 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)
Duke Energy Ohio amounts exclude $4 million, $5 million, and $6 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets
  
Year Ended December 31, 2015
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Regulatory assets, net increase
$
173

 
$
65

 
$
18

 
$
14

 
$
4

 
$
14

 
$
11

Accumulated other comprehensive loss (income)
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred income tax expense
$
6

 

 
5

 

 

 

 

Actuarial losses arising during the year  
4

 

 

 

 

 

 

Amortization of prior year service credit  
1

 

 

 

 

 

 

Amortization of prior year actuarial losses  
(11
)
 

 
(4
)
 

 

 

 

Transfer with the disposal group
3

 
 
 
 
 
 
 
 
 
 
 
 
Reclassification of actuarial losses to regulatory assets  
(6
)
 

 

 

 

 

 

Net amount recognized in accumulated other comprehensive income  
$
(3
)
 
$

 
$
1

 
$

 
$

 
$

 
$

  
Year Ended December 31, 2014
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Regulatory assets, net increase (decrease)
$
112

 
$
30

 
$
(73
)
 
$
(17
)
 
$
11

 
$
17

 
$
4

Accumulated other comprehensive (income) loss  
  

 
  

 
  

 
  

 
  

 
  

 
  

Deferred income tax expense
$
(10
)
 
$

 
$
(2
)
 
$

 
$

 
$

 
$

Actuarial losses arising during the year  
29

 

 

 

 

 

 

Prior year service credit arising during the year  

 

 

 

 

 

 

Amortization of prior year actuarial losses  
(9
)
 

 

 

 

 

 

Reclassification of actuarial losses to regulatory assets  
(1
)
 

 

 

 

 

 

Net amount recognized in accumulated other comprehensive income  
$
9

 
$

 
$
(2
)
 
$

 
$

 
$

 
$

Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Net Amount Recognized
  
Year Ended December 31, 2015
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Change in Projected Benefit Obligation  
  

 
  
 
  
 
  
 
  
 
  
 
  
Obligation at prior measurement date  
$
8,107

 
$
2,053

 
$
2,557

 
$
1,187

 
$
1,335

 
$
469

 
$
673

Obligation transferred with the Disposal Group
(83
)
 

 

 

 

 

 

Service cost  
159

 
50

 
44

 
23

 
20

 
4

 
10

Interest cost  
324

 
83

 
104

 
48

 
54

 
18

 
27

Actuarial gain
(241
)
 
(53
)
 
(111
)
 
(46
)
 
(62
)
 
(9
)
 
(15
)
Transfers  

 
8

 
4

 
7

 
(3
)
 
8

 

Plan amendments  
(6
)
 

 

 

 

 

 
(4
)
Benefits paid  
(533
)
 
(146
)
 
(147
)
 
(76
)
 
(68
)
 
(37
)
 
(42
)
Obligation at measurement date  
$
7,727

 
$
1,995

 
$
2,451

 
$
1,143

 
$
1,276

 
$
453

 
$
649

Accumulated Benefit Obligation at measurement date  
$
7,606

 
$
1,993

 
$
2,414

 
$
1,143

 
$
1,240

 
$
442

 
$
628

Change in Fair Value of Plan Assets  
  

 
  

 
  

 
  

 
  

 
  

 
  

Plan assets at prior measurement date  
$
8,498

 
$
2,300

 
$
2,722

 
$
1,321

 
$
1,363

 
$
456

 
$
681

Plan assets transferred with the Disposal Group
(81
)
 

 

 

 

 

 

Employer contributions
302

 
91

 
83

 
42

 
40

 
8

 
19

Actual return on plan assets  
(50
)
 
(10
)
 
(22
)
 
(10
)
 
(11
)
 
(2
)
 
(3
)
Benefits paid  
(533
)
 
(146
)
 
(147
)
 
(76
)
 
(68
)
 
(37
)
 
(42
)
Transfers  

 
8

 
4

 
7

 
(3
)
 
8

 

Plan assets at measurement date  
$
8,136

 
$
2,243

 
$
2,640

 
$
1,284

 
$
1,321

 
$
433

 
$
655

Funded status of plan  
$
409

 
$
248

 
$
189

 
$
141

 
$
45

 
$
(20
)
 
$
6

  
Year Ended December 31, 2014
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Change in Projected Benefit Obligation  
  
 
  
 
  
 
  
 
  
 
  
 
  
Obligation at prior measurement date  
$
7,510

 
$
1,875

 
$
2,739

 
$
1,172

 
$
1,233

 
$
442

 
$
632

Service cost  
135

 
41

 
40

 
21

 
20

 
4

 
9

Interest cost  
344

 
85

 
112

 
54

 
57

 
20

 
29

Actuarial loss(a)
618

 
132

 
211

 
98

 
105

 
41

 
41

Transfers  

 
37

 
(375
)
 
(61
)
 
(9
)
 
(6
)
 

Plan amendments  
(4
)
 
(1
)
 

 

 

 
(1
)
 

Benefits paid  
(496
)
 
(116
)
 
(170
)
 
(97
)
 
(71
)
 
(31
)
 
(38
)
Obligation at measurement date  
$
8,107

 
$
2,053

 
$
2,557

 
$
1,187

 
$
1,335

 
$
469

 
$
673

Accumulated Benefit Obligation at measurement date  
$
7,966

 
$
2,052

 
$
2,519

 
$
1,187

 
$
1,297

 
$
459

 
$
645

Change in Fair Value of Plan Assets  
  

 
  

 
  

 
  

 
  

 
  

 
  

Plan assets at prior measurement date  
$
8,142

 
$
2,162

 
$
2,944

 
$
1,330

 
$
1,299

 
$
448

 
$
654

Actual return on plan assets  
852

 
217

 
300

 
149

 
144

 
45

 
65

Benefits paid  
(496
)
 
(116
)
 
(170
)
 
(97
)
 
(71
)
 
(31
)
 
(38
)
Transfers  

 
37

 
(352
)
 
(61
)
 
(9
)
 
(6
)
 

Plan assets at measurement date  
$
8,498

 
$
2,300

 
$
2,722

 
$
1,321

 
$
1,363

 
$
456

 
$
681

Funded status of plan  
$
391

 
$
247

 
$
165

 
$
134

 
$
28

 
$
(13
)
 
$
8


(a)
Includes an increase in benefit obligation of $180 million as a result of changes in Duke Energy's mortality assumptions.
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
  
December 31, 2015
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Prefunded pension(a)
$
474

 
$
252

 
$
232

 
$
145

 
$
84

 
$
1

 
$
6

Noncurrent pension liability(b)
$
65

 
$
4

 
$
43

 
$
4

 
$
39

 
$
21

 
$

Net asset recognized  
$
409

 
$
248

 
$
189

 
$
141

 
$
45

 
$
(20
)
 
$
6

Regulatory assets  
$
1,884

 
$
472

 
$
771

 
$
360

 
$
410

 
$
79

 
$
162

Accumulated other comprehensive (income) loss  
  

 
  

 
  

 
  

 
  

 
  

 
  

Deferred income tax asset  
$
(45
)
 
$

 
$
(6
)
 
$

 
$

 
$

 
$

Prior service credit  
(4
)
 

 

 

 

 

 

Net actuarial loss  
130

 

 
17

 

 

 

 

Net amounts recognized in accumulated other comprehensive loss(c)
$
81

 
$

 
$
11

 
$

 
$

 
$

 
$

Amounts to be recognized in net periodic pension costs in the next year  
  

 
  

 
  

 
  

 
  

 
  

 
  

Unrecognized net actuarial loss  
$
132

 
$
31

 
$
59

 
$
25

 
$
31

 
$
4

 
$
11

Unrecognized prior service credit  
(16
)
 
(8
)
 
(3
)
 
(2
)
 
(1
)
 

 

  
December 31, 2014
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Prefunded pension(a)
$
441

 
$
247

 
$
165

 
$
134

 
$
28

 
$

 
$
8

Noncurrent pension liability(b)
$
50

 
$

 
$

 
$

 
$

 
$
13

 
$

Net asset recognized  
$
391

 
$
247

 
$
165

 
$
134

 
$
28

 
$
(13
)
 
$
8

Regulatory assets  
$
1,711

 
$
407

 
$
753

 
$
346

 
$
406

 
$
65

 
$
151

Accumulated other comprehensive (income) loss  
  

 
  

 
  

 
  

 
  

 
  

 
  

Deferred income tax asset  
$
(51
)
 
$

 
$
(11
)
 
$

 
$

 
$

 
$

Prior service credit  
(5
)
 

 

 

 

 

 

Net actuarial loss  
140

 

 
21

 

 

 

 

Net amounts recognized in accumulated other comprehensive loss(c)
$
84

 
$

 
$
10

 
$

 
$

 
$

 
$


(a)
Included in Other within Investments and Other Assets on the Consolidated Balance Sheets.
(b)
Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
(c)
Excludes accumulated other comprehensive income of $13 million and $22 million as of December 31, 2015 and 2014, respectively, net of tax, associated with a Brazilian retirement plan.
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
  
December 31, 2014
 
 
 
Duke

 
Duke

 
Energy

(in millions)  
Energy

 
Ohio

Projected benefit obligation  
$
702

 
$
315

Accumulated benefit obligation  
672

 
306

Fair value of plan assets  
652

 
302

Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
  
December 31, 2015
 
 
 
 
 
Duke

 
Duke

 
Duke

 
Progress

 
Energy

 
Energy

(in millions)  
Energy

 
Energy

 
Florida

 
Ohio

Projected benefit obligation  
$
1,216

 
$
611

 
$
611

 
$
307

Accumulated benefit obligation  
1,158

 
575

 
575

 
298

Fair value of plan assets  
1,151

 
574

 
574

 
289

Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions or range of assumptions used for pension benefit accounting.
  
 
December 31,
  
 
2015
 
2014
 
2013
Benefit Obligations
 
 
 
  
 
 
 
  
 
 
 
  
Discount rate  
 
 
 
4.40%
 
 
 
4.10%
 
 
 
4.70%
Salary increase  
 
4.00
%
-
4.40%
 
4.00
%
-
4.40%
 
4.00
%
-
4.40%
Net Periodic Benefit Cost
 
 
 
  
 
 
 
  
 
 
 
  
Discount rate  
 
 
 
4.10%
 
 
 
4.70%
 


 
4.10%
Salary increase  
 
4.00
%
-
4.40%
 
4.00
%
-
4.40%
 
4.00
%
-
4.30%
Expected long-term rate of return on plan assets  
 
 
 
6.50%
 
 
 
6.75%
 


 
7.75%
Expected Benefit Payments
Expected Benefit Payments
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Years ending December 31,  
  
  
  
  
  
  
  
2016
$
628

$
189

$
164

$
91

$
71

$
35

$
48

2017
639

199

167

92

73

35

47

2018
640

203

169

92

75

34

47

2019
643

202

171

91

77

34

47

2020
641

201

174

92

80

35

47

2021 – 2025
3,053

906

869

438

420

171

230

Non-Qualified Pension Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Pension Costs
  
Year Ended December 31, 2015
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Service cost  
$
3

$

$
1

$

$

$

$

Interest cost on projected benefit obligation  
13

1

4

1

2



Amortization of actuarial loss  
6


2

1

2


1

Amortization of prior service credit  
(1
)

(1
)




Net periodic pension costs  
$
21

$
1

$
6

$
2

$
4

$

$
1

  
Year Ended December 31, 2014
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Service cost  
$
3

$

$
1

$
1

$

$

$

Interest cost on projected benefit obligation  
14

1

5

1

2



Amortization of actuarial loss  
3


2





Amortization of prior service credit  
(1
)

(1
)




Net periodic pension costs  
$
19

$
1

$
7

$
2

$
2

$

$

  
Year Ended December 31, 2013
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Service cost  
$
3

$

$
1

$
1

$

$

$

Interest cost on projected benefit obligation  
13

1

7

1

1



Amortization of actuarial loss  
5


3

1

1



Amortization of prior service credit  
(1
)

(1
)




Net periodic pension costs  
$
20

$
1

$
10

$
3

$
2

$

$

Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
  
Year Ended December 31, 2015
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Regulatory assets, net (decrease) increase   
$
(13
)
$
2

$
(16
)
$
(1
)
$
(15
)
$

$
(1
)
Accumulated other comprehensive (income) loss  
  

  

  

  

  

  

  

Deferred income tax benefit   
$
(7
)
$

$
(5
)
$

$

$

$

Amortization of prior service credit
1







Actuarial gains arising during the year  
17


13





Net amount recognized in accumulated other comprehensive loss (income)   
$
11

$

$
8

$

$

$

$

  
Year Ended December 31, 2014
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Regulatory assets, net increase   
$
44

$
1

$
14

$
4

$
19

$
1

$
2

Regulatory liabilities, net decrease  
$
(7
)
$

$

$

$

$

$

Accumulated other comprehensive (income) loss  
  

  

  

  

  

  

  

Deferred income tax benefit   
$
4

$

$
5

$

$

$

$

Actuarial gains arising during the year  
(9
)

(11
)




Net amount recognized in accumulated other comprehensive loss (income)   
$
(5
)
$

$
(6
)
$

$

$

$

Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Net Amount Recognized
  
Year Ended December 31, 2015
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Change in Projected Benefit Obligation  
  

  

  

  

  

  

  

Obligation at prior measurement date  
$
337

$
16

$
116

$
35

$
61

$
4

$
5

Service cost  
3


1





Interest cost  
13

1

4

1

2



Actuarial losses (gains)
10

1

(1
)

(14
)


Transfers  
4







Benefits paid  
(26
)
(2
)
(8
)
(3
)
(3
)


Obligation at measurement date  
$
341

$
16

$
112

$
33

$
46

$
4

$
5

Accumulated Benefit Obligation at measurement date  
$
336

$
16

$
112

$
33

$
46

$
4

$
5

Change in Fair Value of Plan Assets  
  

  

  

  

  

  

  

Plan assets at prior measurement date  







Benefits paid  
(26
)
(2
)
(8
)
(3
)
(3
)


Employer contributions  
26

2

8

3

3



Plan assets at measurement date  
$

$

$

$

$

$

$


  
Year Ended December 31, 2014
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Change in Projected Benefit Obligation  
  
  

  

  

  

  

  

Obligation at prior measurement date  
$
304

$
15

$
140

$
34

$
39

$
3

$
5

Service cost  
3


1

1




Interest cost  
14

1

5

1

2



Actuarial losses(a)  
43

2

11

2

20

1

1

Settlements  







Plan amendments  







Transfers  


(32
)

4



Benefits paid  
(27
)
(2
)
(9
)
(3
)
(4
)

(1
)
Obligation at measurement date  
$
337

$
16

$
116

$
35

$
61

$
4

$
5

Accumulated Benefit Obligation at measurement date  
$
333

$
15

$
116

$
35

$
61

$
4

$
5

Change in Fair Value of Plan Assets  
  

  

  

  

  

  

  

Plan assets at prior measurement date  







Benefits paid  
(27
)
(2
)
(9
)
(3
)
(4
)

(1
)
Employer contributions  
27

2

9

3

4


1

Plan assets at measurement date  
$

$

$

$

$

$

$


(a)
Includes an increase in benefit obligation of $21 million as a result of changes in Duke Energy's mortality assumptions.
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
  
December 31, 2015
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Current pension liability(a)
$
27

$
2

$
8

$
3

$
3

$

$

Noncurrent pension liability(b)
314

14

104

30

43

4

5

Total accrued pension liability  
$
341

$
16

$
112

$
33

$
46

$
4

$
5

Regulatory assets  
$
76

$
7

$
16

$
6

$
10

$
1

$
1

Accumulated other comprehensive (income) loss  
 
  

  

  

  

  

  

Deferred income tax liability  
$
(3
)
$

$
(3
)
$

$

$

$

Net actuarial loss  
9


9





Net amounts recognized in accumulated other comprehensive income
$
6

$

$
6

$

$

$

$

Amounts to be recognized in net periodic pension expense in the next year  
 
  

  

  

  

  

  

Unrecognized net actuarial loss  
$
8

$

$
1

$

$

$

$

Unrecognized prior service credit  
(1
)







  
December 31, 2014
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Current pension liability(a)
$
27

$
2

$
8

$
3

$
4

$

$

Noncurrent pension liability(b)
310

14

108

32

57

4

5

Total accrued pension liability  
$
337

$
16

$
116

$
35

$
61

$
4

$
5

Regulatory assets  
$
89

$
5

$
32

$
7

$
25

$
1

$
2

Regulatory liabilities  
$

$

$

$

$

$

$

Accumulated other comprehensive (income) loss  
  

  

  

  

  

  

  

Deferred income tax asset  
$
4

$

$
2

$

$

$

$

Prior service credit  
(1
)






Net actuarial gain  
(8
)

(4
)




Net amounts recognized in accumulated other comprehensive loss  
$
(5
)
$

$
(2
)
$

$

$

$


(a)
Included in Other within Current Liabilities on the Consolidated Balance Sheets.
(b)
Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
  
December 31, 2015
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Projected benefit obligation  
$
341

$
16

$
112

$
33

$
46

$
4

$
5

Accumulated benefit obligation  
336

16

112

33

46

4

5

  
December 31, 2014
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Projected benefit obligation  
$
337

$
16

$
116

$
35

$
61

$
4

$
5

Accumulated benefit obligation  
333

15

116

35

61

4

5

Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions used for pension benefit accounting.
  
 
December 31,
  
 
2015

 
2014

 
2013

Benefit Obligations  
 
  

 
  

 
  

Discount rate  
 
4.40
%
 
4.10
%
 
4.70
%
Salary increase   
 
4.40
%
 
4.40
%
 
4.40
%
Net Periodic Benefit Cost  
 
  

 
  

 
  

Discount rate  
 
4.10
%
 
4.70
%
 
4.10
%
Salary increase  
 
4.40
%
 
4.40
%
 
4.30
%
Expected Benefit Payments
Expected Benefit Payments
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Years ending December 31,  
  
  
  
  
  
  
  
2016
$
28

$
2

$
8

$
3

$
3

$

$

2017
29

2

8

3

3



2018
25

2

8

3

3



2019
26

2

8

3

3



2020
25

2

8

3

3


1

2021 - 2025
126

9

38

12

16

1

2

Other Post-Retirement Benefit Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Other Post-Retirement Benefit Costs
  
Year Ended December 31, 2015
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Service cost  
$
6

 
$
1

 
$
1

 
$
1

 
$
1

 
$

 
$
1

Interest cost on accumulated post-retirement benefit obligation  
36

 
9

 
15

 
8

 
7

 
2

 
4

Expected return on plan assets  
(13
)
 
(8
)
 

 

 

 
(1
)
 
(1
)
Amortization of actuarial loss (gain)  
16

 
(2
)
 
28

 
18

 
10

 
(2
)
 
(2
)
Amortization of prior service credit  
(140
)
 
(14
)
 
(102
)
 
(68
)
 
(35
)
 

 

Net periodic post-retirement benefit costs(a)(b)
$
(95
)
 
$
(14
)
 
$
(58
)
 
$
(41
)
 
$
(17
)
 
$
(1
)
 
$
2


  
Year Ended December 31, 2014
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Service cost  
$
10

 
$
2

 
$
4

 
$
1

 
$
3

 
$

 
$
1

Interest cost on accumulated post-retirement benefit obligation  
49

 
12

 
22

 
11

 
12

 
2

 
5

Expected return on plan assets  
(13
)
 
(9
)
 

 

 

 

 
(1
)
Amortization of actuarial loss (gain)  
39

 
3

 
42

 
31

 
10

 
(2
)
 

Amortization of prior service credit  
(125
)
 
(11
)
 
(95
)
 
(73
)
 
(21
)
 

 

Net periodic post-retirement benefit costs(a)(b)
$
(40
)
 
$
(3
)
 
$
(27
)
 
$
(30
)
 
$
4

 
$

 
$
5

  
Year Ended December 31, 2013
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Service cost  
$
24

 
$
2

 
$
18

 
$
9

 
$
7

 
$
1

 
$
1

Interest cost on accumulated post-retirement benefit obligation  
68

 
13

 
41

 
22

 
16

 
2

 
5

Expected return on plan assets  
(14
)
 
(11
)
 

 

 

 
(1
)
 
(1
)
Amortization of actuarial loss (gain)  
52

 
3

 
57

 
34

 
16

 
(1
)
 
1

Amortization of prior service credit  
(41
)
 
(7
)
 
(30
)
 
(20
)
 
(6
)
 
(1
)
 

Net periodic post-retirement benefit costs(a)(b)
$
89

 
$

 
$
86

 
$
45

 
$
33

 
$

 
$
6


(a)
Duke Energy amounts exclude $10 million, $9 million, and $8 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)
Duke Energy Ohio amounts exclude $3 million, $2 million, and $2 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
  
Year Ended December 31, 2015
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Regulatory assets, net increase (decrease)
$
1

 
$

 
$
1

 
$

 
$
1

 
$

 
$
(7
)
Regulatory liabilities, net increase (decrease)  
$
(92
)
 
$
(8
)
 
$
(71
)
 
$
(36
)
 
$
(35
)
 
$
2

 
$
(8
)
Accumulated other comprehensive (income) loss  
  

 
  

 
 
 
  

 
  

 
  

 
  

Deferred income tax benefit   
$
2

 
$

 
$
(1
)
 
$

 
$

 
$

 
$

Actuarial losses (gains) arising during the year  
(5
)
 

 
2

 

 

 

 

Transfer with the disposal group
(3
)
 

 

 

 

 

 

Amortization of prior year prior service credit  
3

 

 
(1
)
 

 

 

 

Net amount recognized in accumulated other comprehensive income  
$
(3
)
 
$

 
$

 
$

 
$

 
$

 
$

  
Year Ended December 31, 2014
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Regulatory assets, net increase (decrease)
$
162

 
$
34

 
$
129

 
$
97

 
$
(4
)
 
$

 
$
(7
)
Regulatory liabilities, net increase (decrease)  
$
249

 
$
76

 
$
122

 
$
61

 
$
61

 
$
(2
)
 
$
14

Accumulated other comprehensive (income) loss  
  

 
  

 
 
 
  

 
  

 
  

 
  

Deferred income tax benefit   
$
1

 
$

 
$
1

 
$

 
$

 
$

 
$

Actuarial losses (gains) arising during the year  
1

 

 
(2
)
 

 

 

 

Prior year service credit arising during the year  
(6
)
 

 

 

 

 

 

Amortization of prior year prior service credit 
2

 

 

 

 

 

 

Net amount recognized in accumulated other comprehensive income  
$
(2
)
 
$

 
$
(1
)
 
$

 
$

 
$

 
$

Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs
  
Year Ended December 31, 2015
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Change in Projected Benefit Obligation  
  

 
  
 
  
 
  
 
  
 
  
 
  
Accumulated post-retirement benefit obligation at prior measurement date  
$
916

 
$
220

 
$
379

 
$
207

 
$
170

 
$
39

 
$
96

Service cost  
6

 
1

 
1

 
1

 
1

 

 
1

Interest cost  
36

 
9

 
15

 
8

 
7

 
2

 
4

Plan participants' contributions  
20

 
4

 
7

 
4

 
3

 
1

 
2

Actuarial (gains) losses
(39
)
 
(18
)
 
(1
)
 
(13
)
 
11

 
(3
)
 
1

Transfers  

 
2

 

 

 

 

 

Plan amendments  
(9
)
 

 

 

 

 
(1
)
 
(4
)
Benefits paid  
(100
)
 
(18
)
 
(47
)
 
(19
)
 
(28
)
 
(3
)
 
(13
)
Obligation transferred with the Disposal Group
(3
)
 

 

 

 

 

 

Accrued retiree drug subsidy  
1

 

 

 

 

 

 

Accumulated post-retirement benefit obligation at measurement date  
$
828

 
$
200

 
$
354

 
$
188

 
$
164

 
$
35

 
$
87

Change in Fair Value of Plan Assets  
  

 
  

 
  

 
  

 
  

 
  

 
  

Plan assets at prior measurement date  
$
227

 
$
145

 
$

 
$
(1
)
 
$

 
$
8

 
$
23

Actual return on plan assets  
(1
)
 
(1
)
 
1

 
1

 
1

 

 
(1
)
Benefits paid  
(100
)
 
(18
)
 
(47
)
 
(19
)
 
(28
)
 
(3
)
 
(13
)
Employer contributions  
62

 
4

 
39

 
15

 
25

 
2

 
8

Plan participants' contributions  
20

 
4

 
7

 
4

 
3

 
1

 
2

Plan assets at measurement date  
$
208

 
$
134

 
$

 
$

 
$
1

 
$
8

 
$
19


  
Year Ended December 31, 2014
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Change in Projected Benefit Obligation  
  
 
  
 
  
 
  
 
  
 
  
 
  
Accumulated post-retirement benefit obligation at prior measurement date  
$
1,106

 
$
265

 
$
533

 
$
233

 
$
253

 
$
42

 
$
118

Service cost  
10

 
2

 
4

 
1

 
3

 

 
1

Interest cost  
49

 
12

 
22

 
11

 
12

 
2

 
5

Plan participants' contributions  
25

 
10

 
8

 
4

 
4

 

 
2

Actuarial gains(a)
(87
)
 
(35
)
 
(19
)
 
(21
)
 

 

 
(20
)
Transfers  

 
1

 
(48
)
 
(2
)
 

 
(1
)
 

Plan amendments  
(85
)
 
(4
)
 
(77
)
 

 
(78
)
 
(1
)
 

Benefits paid  
(103
)
 
(31
)
 
(44
)
 
(19
)
 
(24
)
 
(3
)
 
(10
)
Accrued retiree drug subsidy  
1

 

 

 

 

 

 

Accumulated post-retirement benefit obligation at measurement date  
$
916

 
$
220

 
$
379

 
$
207

 
$
170

 
$
39

 
$
96

Change in Fair Value of Plan Assets  
  

 
  

 
  

 
  

 
  

 
  

 
  

Plan assets at prior measurement date  
$
214

 
$
143

 
$

 
$

 
$

 
$
8

 
$
18

Actual return on plan assets  
18

 
12

 

 

 

 

 
2

Benefits paid  
(103
)
 
(31
)
 
(44
)
 
(19
)
 
(24
)
 
(3
)
 
(10
)
Transfers

 
(1
)
 

 

 

 

 

Employer contributions  
73

 
12

 
36

 
14

 
20

 
3

 
11

Plan participants' contributions  
25

 
10

 
8

 
4

 
4

 

 
2

Plan assets at measurement date  
$
227

 
$
145

 
$

 
$
(1
)
 
$

 
$
8

 
$
23


(a)
Includes an increase in benefit obligation of $7 million as a result of changes in Duke Energy's mortality assumptions.
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
  
December 31, 2015
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Current post-retirement liability(a)
$
37

 
$

 
$
31

 
$
16

 
$
15

 
$
2

 
$

Noncurrent post-retirement liability(b)
583

 
66

 
323

 
172

 
149

 
25

 
68

Total accrued post-retirement liability  
$
620

 
$
66

 
$
354

 
$
188

 
$
164

 
$
27

 
$
68

Regulatory assets  
$
1

 
$

 
$
1

 
$

 
$
1

 
$

 
$
57

Regulatory liabilities  
$
288

 
$
68

 
$
51

 
$
25

 
$
26

 
$
21

 
$
83

Accumulated other comprehensive (income) loss  
  

 
  

 
  

 
  

 
  

 
  

 
  

Deferred income tax liability  
$
7

 
$

 
$

 
$

 
$

 
$

 
$

Prior service credit  
(6
)
 

 
(1
)
 

 

 

 

Net actuarial gain  
(13
)
 

 

 

 

 

 

Net amounts recognized in accumulated other comprehensive income  
$
(12
)
 
$

 
$
(1
)
 
$

 
$

 
$

 
$

Amounts to be recognized in net periodic pension expense in the next year  
  

 
  

 
  

 
  

 
  

 
  

 
  

Unrecognized net actuarial loss (gain)  
$
6

 
$
(3
)
 
$
22

 
$
13

 
$
9

 
$
(2
)
 
$
(2
)
Unrecognized prior service credit
(142
)
 
(14
)
 
(103
)
 
(68
)
 
(35
)
 

 
(1
)
  
December 31, 2014
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

(in millions)  
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

Current post-retirement liability(a)
$
35

 
$

 
$
29

 
$
16

 
$
14

 
$
2

 
$

Noncurrent post-retirement liability(b)
654

 
75

 
350

 
192

 
156

 
29

 
73

Total accrued post-retirement liability  
$
689

 
$
75

 
$
379

 
$
208

 
$
170

 
$
31

 
$
73

Regulatory assets  
$

 
$

 
$

 
$

 
$

 
$

 
$
64

Regulatory liabilities  
$
380

 
$
76

 
$
122

 
$
61

 
$
61

 
$
19

 
$
91

Accumulated other comprehensive (income) loss  
  

 
  

 
  

 
  

 
  

 
  

 
  

Deferred income tax liability  
$
5

 
$

 
$
1

 
$

 
$

 
$

 
$

Prior service credit  
(9
)
 

 

 

 

 

 

Net actuarial gain  
(5
)
 

 
(2
)
 

 

 

 

Net amounts recognized in accumulated other comprehensive income  
$
(9
)
 
$

 
$
(1
)
 
$

 
$

 
$

 
$

(a)
Included in Other within Current Liabilities on the Consolidated Balance Sheets. 
(b)
Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions used for other post-retirement benefits accounting.
  
 
December 31,
  
 
2015

 
2014

 
2013

Benefit Obligations  
 
  

 
  

 
  
Discount rate  
 
4.40
%
 
4.10
%
 
4.70
%
Net Periodic Benefit Cost  
 
  

 
  

 
  
Discount rate  
 
4.10
%
 
4.70
%
 
4.10
%
Expected long-term rate of return on plan assets  
 
6.50
%
 
6.75
%
 
7.75
%
Assumed tax rate  
 
35
%
 
35
%
 
35
%
Assumed Health Care Cost Trend Rate
Assumed Health Care Cost Trend Rate
  
December 31,
  
2015

 
2014

Health care cost trend rate assumed for next year  
7.50
%
 
6.75
%
Rate to which the cost trend is assumed to decline (the ultimate trend rate)  
4.75
%
 
4.75
%
Year that rate reaches ultimate trend  
2023

 
2023

Sensitivity to Changes in Assumed Health Care Cost Trend Rates
Sensitivity to Changes in Assumed Health Care Cost Trend Rates
  
Year Ended December 31, 2015
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

1-Percentage Point Increase  
  
  
  
  
  

  
  
Effect on total service and interest costs  
$
2

$

$
1

$
1

$

$

$

Effect on post-retirement benefit obligation  
29

7

12

6

6

1

3

1-Percentage Point Decrease
  

  

  

  

  

  

  

Effect on total service and interest costs  
(1
)

(1
)
(1
)



Effect on post-retirement benefit obligation  
(26
)
(6
)
(11
)
(6
)
(5
)
(1
)
(3
)
Expected Benefit Payments
Expected Benefit Payments
 
 
Duke

 
Duke

Duke

Duke

Duke

 
Duke

Energy

Progress

Energy

Energy

Energy

Energy

(in millions)  
Energy

Carolinas

Energy

Progress

Florida

Ohio

Indiana

Years ending December 31,
  
  
  
  
  
  

  
2016
$
76

$
16

$
31

$
16

$
15

$
4

$
10

2017
76

17

31

16

15

3

10

2018
74

18

30

16

14

3

9

2019
73

18

29

15

14

3

9

2020
71

18

29

15

13

3

8

2021 – 2025
312

80

129

68

60

14

33