Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Line Items]

Schedule of Components of Income Tax Expense (Benefit)

Components of Income Tax Expense

	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
Current income taxes
Federal	$	—		$	216		$	(193	)	$	(56	)	$	1		$	(18	)	$	(86	)
State	(12		)	14			1			(4		)	(7		)	(1		)	(12		)
Foreign	99			—			—			—			—			—			—
Total current income taxes	87			230			(192		)	(60		)	(6		)	(19		)	(98		)
Deferred income taxes
Federal	1,089			345			694			334			290			96			245
State	181			57			27			27			58			5			17
Foreign	(17		)	—			—			—			—			—			—
Total deferred income taxes(a)	1,253			402			721			361			348			101			262
Investment tax credit amortization	(14		)	(5		)	(7		)	(7		)	—			(1		)	(1		)
Income tax expense from continuing operations	1,326			627			522			294			342			81			163
Tax expense (benefit) from discontinued operations	19			—			(1		)	—			—			22			—
Total income tax expense included in Consolidated Statements of Operations	$	1,345		$	627		$	521		$	294		$	342		$	103		$	163

(a) Includes benefits of net operating loss (NOL) carryforwards and utilization of NOL and tax credit carryforwards of $264 million at Duke Energy, $15 million at Duke Energy Carolinas, $119 million at Progress Energy, $21 million at Duke Energy Progress, $84 million at Duke Energy Florida, $3 million at Duke Energy Ohio and $45 million at Duke Energy Indiana.

	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
Current income taxes
Federal	$	—		$	161		$	(466	)	$	(184	)	$	(53	)	$	(73	)	$	(112	)
State	56			51			(8		)	14			1			3			1
Foreign	144			—			—			—			—			—			—
Total current income taxes	200			212			(474		)	(170		)	(52		)	(70		)	(111		)
Deferred income taxes
Federal	1,517			407			938			436			350			113			294
State	35			(25		)	84			25			52			1			15
Foreign	(67		)	—			—			—			—			—			—
Total deferred income taxes(a)(b)	1,485			382			1,022			461			402			114			309
Investment tax credit amortization	(16		)	(6		)	(8		)	(6		)	(1		)	(1		)	(1		)
Income tax expense from continuing operations	1,669			588			540			285			349			43			197
Tax benefit from discontinued operations	(295		)	—			(4		)	—			—			(300		)	—
Total income tax expense (benefit) included in Consolidated Statements of Operations	$	1,374		$	588		$	536		$	285		$	349		$	(257	)	$	197

(a) There were no benefits of NOL carryforwards.

(b) Includes utilization of NOL and tax credit carryforwards of $1,544 million at Duke Energy, $345 million at Duke Energy Carolinas, $530 million at Progress Energy, $291 million at Duke Energy Progress, $64 million at Duke Energy Florida, $56 million at Duke Energy Ohio and $141 million at Duke Energy Indiana.

	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
Current income taxes
Federal	$	(141	)	$	49		$	(221	)	$	(70	)	$	(143	)	$	(24	)	$	(88	)
State	(40		)	11			(37		)	(10		)	(13		)	(4		)	7
Foreign	151			—			—			—			—			—			—
Total current income taxes	(30		)	60			(258		)	(80		)	(156		)	(28		)	(81		)
Deferred income taxes
Federal	1,092			464			555			316			326			65			276
State	144			75			84			59			44			6			29
Foreign	14			—			—			—			—			—			—
Total deferred income taxes(a)	1,250			539			639			375			370			71			305
Investment tax credit amortization	(15		)	(5		)	(8		)	(7		)	(1		)	—			(1		)
Income tax expense from continuing operations	1,205			594			373			288			213			43			223
Tax expense (benefit) from discontinued operations	29			—			(26		)	—			—			32			—
Total income tax expense included in Consolidated Statements of Operations	$	1,234		$	594		$	347		$	288		$	213		$	75		$	223

(a) Includes benefits of NOL carryforwards of $808 million at Duke Energy, $458 million at Progress Energy, $64 million at Duke Energy Progress, $301 million at Duke Energy Florida and $179 million at Duke Energy Indiana.

Schedule of Income before Income Tax, Domestic and Foreign

Duke Energy Income from Continuing Operations before Income Taxes

	Years Ended December 31,
(in millions)	2015		2014		2013
Domestic	$	3,828	$	3,600	$	3,183
Foreign	309		534		612
Income from continuing operations before income taxes	$	4,137	$	4,134	$	3,795

Summary of Effective Tax Rates

The following tables present a reconciliation of income tax expense at the U.S. federal statutory tax rate to the actual tax expense from continuing operations.

	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
Income tax expense, computed at the statutory rate of 35 percent	$	1,448		$	598		$	555		$	302		$	330		$	81		$	168
State income tax, net of federal income tax effect	109			46			18			15			33			2			2
Tax differential on foreign earnings	(27		)	—			—			—			—			—			—
AFUDC equity income	(58		)	(34		)	(19		)	(17		)	(3		)	(1		)	(4		)
Renewable energy production tax credits	(72		)	—			(1		)	—			—			—			—
Audit adjustment	(22		)	—			(23		)	1			(24		)	—			—
Tax true-up	2			2			(3		)	(4		)	2			(5		)	(9		)
Other items, net	(54		)	15			(5		)	(3		)	4			4			6
Income tax expense from continuing operations	$	1,326		$	627		$	522		$	294		$	342		$	81		$	163
Effective tax rate	32.1		%	36.7		%	32.9		%	34.2		%	36.3		%	35.2		%	34.0		%

	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
Income tax expense, computed at the statutory rate of 35 percent	$	1,447		$	581		$	497		$	263		$	314		$	39		$	195
State income tax, net of federal income tax effect	59			17			49			25			34			3			10
Tax differential on foreign earnings(a)	(110		)	—			—			—			—			—			—
AFUDC equity income	(47		)	(32		)	(9		)	(9		)	—			(1		)	(5		)
Renewable energy production tax credits	(67		)	—			—			—			—			—			—
International tax dividend(b)	373			—			—			—			—			—			—
Other items, net	14			22			3			6			1			2			(3		)
Income tax expense (benefit) from continuing operations	$	1,669		$	588		$	540		$	285		$	349		$	43		$	197
Effective tax rate	40.4		%	35.4		%	38.0		%	37.9		%	38.9		%	38.9		%	35.5		%

(a) Includes a $57 million benefit as a result of the merger of two Chilean subsidiaries and a change in income tax rates in various countries primarily relating to Peru.

(b) During 2014, Duke Energy declared a taxable dividend of foreign earnings in the form of notes payable that was expected to result in the repatriation of approximately $2.7 billion of cash held, and expected to be generated, by International Energy over a period of up to eight years. In 2015, approximately $1.5 billion was remitted. As a result of the decision to repatriate cumulative historical undistributed foreign earnings Duke Energy recorded U.S. income tax expense of approximately $373 million in 2014.

	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
Income tax expense, computed at the statutory rate of 35 percent	$	1,328		$	549		$	361		$	276		$	188		$	39		$	203
State income tax, net of federal income tax effect	66			56			31			31			20			2			23
Tax differential on foreign earnings	(49		)	—			—			—			—			—			—
AFUDC equity income	(55		)	(32		)	(18		)	(15		)	(3		)	—			(5		)
Renewable energy production tax credits	(62		)	—			—			—			—			—			—
Other items, net	(23		)	21			(1		)	(4		)	8			2			2
Income tax expense from continuing operations	$	1,205		$	594		$	373		$	288		$	213		$	43		$	223
Effective tax rate	31.8		%	37.8		%	36.2		%	36.5		%	39.6		%	39.1		%	38.4		%

Schedule of Deferred Tax Assets and Liabilities

	December 31, 2014
				Duke						Duke			Duke			Duke			Duke
	Duke			Energy			Progress			Energy			Energy			Energy			Energy
(in millions)	Energy			Carolinas			Energy			Progress			Florida			Ohio			Indiana
Deferred credits and other liabilities	$	188		$	53		$	108		$	28		$	78		$	(8	)	$	12
Capital lease obligations	63			10			—			—			—			—			2
Pension, post-retirement and other employee benefits	546			4			188			96			93			17			43
Progress Energy merger purchase accounting adjustments(a)	1,124			—			—			—			—			—			—
Tax credits and NOL carryforwards	3,540			157			980			91			252			38			260
Investments and other assets	—			—			—			—			—			14			—
Other	—			12			—			55			—			35			11
Valuation allowance	(184		)	—			(13		)	(1		)	—			—			—
Total deferred income tax assets	5,277			236			1,263			269			423			96			328
Investments and other assets	(1,625		)	(1,051		)	(427		)	(232		)	(245		)	—			(4		)
Accelerated depreciation rates	(11,715		)	(4,046		)	(3,284		)	(2,030		)	(1,252		)	(1,660		)	(1,603		)
Regulatory assets and deferred debits, net	(3,694		)	(953		)	(1,602		)	(809		)	(792		)	(141		)	(106		)
Other	(44		)	—			(151		)	—			(246		)	—			—
Total deferred income tax liabilities	(17,078		)	(6,050		)	(5,464		)	(3,071		)	(2,535		)	(1,801		)	(1,713		)
Net deferred income tax liabilities	$	(11,801	)	$	(5,814	)	$	(4,201	)	$	(2,802	)	$	(2,112	)	$	(1,705	)	$	(1,385	)

(a) Primarily related to capital lease obligations and debt fair value adjustments.

Net Deferred Income Tax Liability Components

	December 31, 2015
				Duke						Duke			Duke			Duke			Duke
	Duke			Energy			Progress			Energy			Energy			Energy			Energy
(in millions)	Energy			Carolinas			Energy			Progress			Florida			Ohio			Indiana
Deferred credits and other liabilities	$	245		$	38		$	115		$	25		$	66		$	29		$	5
Capital lease obligations	63			9			—			—			—			—			2
Pension, post-retirement and other employee benefits	580			46			186			92			82			24			40
Progress Energy merger purchase accounting adjustments(a)	1,009			—			—			—			—			—			—
Tax credits and NOL carryforwards	3,719			170			997			163			177			25			215
Investments and other assets	—			—			—			—			—			3			—
Other	206			20			48			2			46			37			20
Valuation allowance	(160		)	—			(38		)	—			—			—			—
Total deferred income tax assets	5,662			283			1,308			282			371			118			282
Investments and other assets	(1,584		)	(1,057		)	(412		)	(228		)	(201		)	—			(7		)
Accelerated depreciation rates	(13,070		)	(4,429		)	(4,169		)	(2,325		)	(1,868		)	(1,356		)	(1,797		)
Regulatory assets and deferred debits, net	(3,633		)	(943		)	(1,517		)	(756		)	(762		)	(169		)	(135		)
Total deferred income tax liabilities	(18,287		)	(6,429		)	(6,098		)	(3,309		)	(2,831		)	(1,525		)	(1,939		)
Net deferred income tax liabilities	$	(12,625	)	$	(6,146	)	$	(4,790	)	$	(3,027	)	$	(2,460	)	$	(1,407	)	$	(1,657	)

(a) Primarily related to capital lease obligations and debt fair value adjustments.

Summary of Tax Credit Carryforwards

The following table presents the expiration of tax credits and NOL carryforwards.

	December 31, 2015
(in millions)	Amount		Expiration Year
Investment tax credits	$	864	2029	—	2035
Alternative minimum tax credits	1,121		Indefinite
Federal NOL carryforwards	484		2030	—	2033
State NOL carryforwards and credits(a)	299		2016	—	2035
Foreign NOL carryforwards(b)	100		2026	—	2034
Foreign Tax Credits	851		2024
Total tax credits and NOL carryforwards	$	3,719

(a) A valuation allowance of $81 million has been recorded on the state Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table.

(b) A valuation allowance of $79 million has been recorded on the foreign Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table.

Schedule of Balance Sheet Classification of Deferred Tax Assets and Liabilities

As discussed in Note 1, the FASB issued revised accounting guidance for the Balance Sheet classification of deferred taxes. As shown in the table below, all deferred tax assets and liabilities are presented as noncurrent as of December 31, 2015. However, for December 31, 2014, the revised guidance was not applied. As a result, a portion of deferred tax assets and liabilities is shown as current at December 31, 2014.

	December 31, 2015
				Duke						Duke			Duke			Duke			Duke
	Duke			Energy			Progress			Energy			Energy			Energy			Energy
(in millions)	Energy			Carolinas			Energy			Progress			Florida			Ohio			Indiana
Investments and Other Assets: Other	80			—			—			—			—			—			—
Deferred Credits and Other Liabilities: Deferred income taxes	(12,705		)	(6,146		)	(4,790		)	(3,027		)	(2,460		)	(1,407		)	(1,657		)
Net deferred income tax liabilities	$	(12,625	)	$	(6,146	)	$	(4,790	)	$	(3,027	)	$	(2,460	)	$	(1,407	)	$	(1,657	)

	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 Assets: Other	$	1,593		$	3		$	558		$	106		$	340		$	60		$	206
Investments and Other Assets: Other	29			—			—			—			—			—			—
Current Liabilities: Other	—			(5		)	—			—			—			—			—
Deferred Credits and Other Liabilities: Deferred income taxes	(13,423		)	(5,812		)	(4,759		)	(2,908		)	(2,452		)	(1,765		)	(1,591		)
Net deferred income tax liabilities	$	(11,801	)	$	(5,814	)	$	(4,201	)	$	(2,802	)	$	(2,112	)	$	(1,705	)	$	(1,385	)

Schedule of Unrecognized Tax Benefits Roll Forward

The following tables present changes to unrecognized tax benefits.

	Year Ended December 31, 2015
				Duke						Duke			Duke			Duke
	Duke			Energy			Progress			Energy			Energy			Energy
(in millions)	Energy			Carolinas			Energy			Progress			Florida			Indiana
Unrecognized tax benefits – January 1	$	213		$	160		$	32		$	23		$	8		$	1
Unrecognized tax benefits increases (decreases)
Gross increases – tax positions in prior periods	—			—			1			1			—			—
Gross decreases – tax positions in prior periods	(48		)	(45		)	—			—			—			—
Decreases due to settlements	(45		)	(43		)	—			—			—			—
Reduction due to lapse of statute of limitations	(32		)	—			(32		)	(21		)	(8		)	—
Total changes	(125		)	(88		)	(31		)	(20		)	(8		)	—
Unrecognized tax benefits – December 31	$	88		$	72		$	1		$	3		$	—		$	1

	Year Ended December 31, 2014
				Duke						Duke		Duke		Duke
	Duke			Energy			Progress			Energy		Energy		Energy
(in millions)	Energy			Carolinas			Energy			Progress		Florida		Indiana
Unrecognized tax benefits – January 1	$	230		$	171		$	32		$	22	$	8	$	1
Unrecognized tax benefits (decreases) increases
Gross increases – tax positions in prior periods	—			—			1			1		—		—
Gross decreases – tax positions in prior periods	(2		)	—			—			—		—		—
Decreases due to settlements	(15		)	(11		)	(1		)	—		—		—
Total changes	(17		)	(11		)	—			1		—		—
Unrecognized tax benefits – December 31	$	213		$	160		$	32		$	23	$	8	$	1

	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
Unrecognized tax benefits – January 1	$	540		$	271		$	131		$	67		$	44		$	36		$	32
Unrecognized tax benefits increases (decreases)
Gross decreases – tax positions in prior periods	(231		)	(100		)	(86		)	(45		)	(37		)	(36		)	(31		)
Decreases due to settlements	(66		)	—			—			—			—			—			—
Reduction due to lapse of statute of limitations	(13		)	—			(13		)	—			1			—			—
Total changes	(310		)	(100		)	(99		)	(45		)	(36		)	(36		)	(31		)
Unrecognized tax benefits – December 31	$	230		$	171		$	32		$	22		$	8		$	—		$	1

Schedule of Unrecognized Tax Benefits

The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits. It is reasonably possible that Duke Energy could reflect an approximate $65 million reduction and Duke Energy Carolinas could reflect an approximate $63 million reduction in unrecognized tax benefits within the next 12 months. All other Duke Energy Registrants do not anticipate a material increase or decrease in unrecognized tax benefits within the next 12 months.

	December 31, 2015
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana
Amount that if recognized, would affect the effective tax rate or regulatory liability(a)	$	62	$	54	$	2	$	3	$	1	$	—	$	2
Amount that if recognized, would be recorded as a component of discontinued operations	4		—		—		—		—		—		—

(a) Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana are unable to estimate the specific amounts that would affect the effective tax rate versus the regulatory liability.

Summary of Income Tax Contingencies

The following tables include interest recognized in the Consolidated Statements of Operations and the Consolidated Balance Sheets.

	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
Net interest income recognized related to income taxes	$	12	$	—	$	2	$	2	$	1	$	—	$	1
Net interest expense recognized related to income taxes	—		1		—		—		—		—		—
Interest receivable related to income taxes	3		—		—		—		—		—		3
Interest payable related to income taxes	—		14		—		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
Net interest income recognized related to income taxes	$	6	$	—	3	—	1	4	$	4
Net interest expense recognized related to income taxes	—		1		—	1	—	—	—
Interest receivable related to income taxes	—		—		—	—	—	—	2
Interest payable related to income taxes	13		13		5	3	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
Net interest income recognized related to income taxes	$	2	$	2	$	6	$	7	$	—	4	1
Interest payable related to income taxes	27		8		10		2		7		—	—