Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The purchase price allocation of the Piedmont acquisition is as follows:

(in millions)
Current assets	$	497
Property, plant and equipment, net	4,714
Goodwill	3,353
Other long-term assets	804
Total assets	9,368
Current liabilities, including current maturities of long-term debt	576
Long-term liabilities	1,790
Long-term debt	2,002
Total liabilities	4,368
Total purchase price	$	5,000

Business Acquisition, Pro Forma Information

This information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future consolidated results of operations of Duke Energy.

	Three Months Ended		Nine Months Ended
(in millions)	September 30, 2016		September 30, 2016
Operating Revenues	$	6,713	$	17,927
Net Income Attributable to Duke Energy Corporation	1,180		2,552

Financial Statement Disclosures

The following table presents the results of the International Disposal Group, which are included in (Loss) Income from Discontinued Operations, net of tax in Duke Energy's Condensed Consolidated Statements of Operations. Interest expense directly associated with the International Disposal Group was allocated to discontinued operations. No interest from corporate level debt was allocated to discontinued operations.

	Three Months Ended			Nine Months Ended
(in millions)	September 30, 2016			September 30, 2016
Operating Revenues	$	245		$	761
Fuel used in electric generation and purchased power	60			177
Cost of natural gas	11			34
Operation, maintenance and other	85			240
Depreciation and amortization	18			62
Property and other taxes	1			6
Impairment charges (a)	—			194
Loss on Sales of Other Assets and Other, net	(3		)	(2		)
Other Income and Expenses, net	14			35
Interest Expense	19			63
Income before income taxes	62			18
Income tax expense (benefit) (b)	4			(48		)
Income from discontinued operations of the International Disposal Group	58			66
Income from discontinued operations of other businesses(c)	122			124
Income from Discontinued Operations, net of tax	$	180		$	190

(a) In conjunction with the advancements of marketing efforts during 2016, Duke Energy performed recoverability tests of the long-lived asset groups of International Energy. As a result, Duke Energy determined the carrying value of certain assets in Central America was not fully recoverable and recorded a pretax impairment charge of $194 million. The charge represents the excess carrying value over the estimated fair value of the assets, which was based on a Level 3 Fair Value measurement that was primarily determined from the income approach using discounted cash flows but also considered market information obtained in 2016.

(b) Includes an income tax benefit of $95 million for the nine months ended September 30, 2016, related to historical undistributed foreign earnings. See Note 17 for additional information.

(c) Duke Energy recognized an income tax benefit of $122 million resulting from immaterial out of period deferred tax liability adjustments for the three and nine months ended September 30, 2016. The amount includes $34 million recorded at Duke Energy Ohio.

Duke Energy has elected not to separately disclose discontinued operations on the Condensed Consolidated Statements of Cash Flows. The following table summarizes Duke Energy's cash flows from discontinued operations related to the International Disposal Group.

	Nine Months Ended
(in millions)	September 30, 2016
Cash flows provided by (used in):
Operating activities	$	201
Investing activities	(35		)