Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Debt

The following table shows the significant components of Current maturities of Long-Term Debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.

(in millions)	Maturity Date	Interest Rate			December 31, 2018
Unsecured Debt
Progress Energy	March 2019	7.050	%		$	450
Duke Energy (Parent)	September 2019	5.050	%		500
Piedmont	September 2019	3.155	%	(b)	350
Duke Energy Kentucky	October 2019	4.65	%		100
Progress Energy	December 2019	4.875	%		350
First Mortgage Bonds
Duke Energy Progress	January 2019	5.300	%		600
Duke Energy Ohio	April 2019	5.450	%		450
Other(a)					606
Current maturities of long-term debt					$	3,406

(a) Includes capital lease obligations, amortizing debt and small bullet maturities.

(b) Debt has a floating interest rate.

The following tables show short-term obligations classified as long-term debt.

	December 31, 2018
			Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Progress		Ohio		Indiana
Tax-exempt bonds	$	312	$	—	$	—	$	27	$	285
Commercial paper(a)	625		300		150		25		150
Total	$	937	$	300	$	150	$	52	$	435

	December 31, 2017
			Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Progress		Ohio		Indiana
Tax-exempt bonds	$	312	$	—	$	—	$	27	$	285
Commercial paper(a)	625		300		150		25		150
Total	$	937	$	300	$	150	$	52	$	435

(a) Progress Energy amounts are equal to Duke Energy Progress amounts.

The following tables summarize outstanding debt.

	December 31, 2018
	Weighted
	Average					Duke						Duke			Duke			Duke			Duke
	Interest		Duke			Energy			Progress			Energy			Energy			Energy			Energy
(in millions)	Rate		Energy			Carolinas			Energy			Progress			Florida			Ohio			Indiana			Piedmont
Unsecured debt, maturing 2019-2078	4.26	%	$	20,955		$	1,150		$	3,800		$	50		$	350		$	1,000		$	408		$	2,150
Secured debt, maturing 2020-2037	3.69	%	4,297			450			1,703			300			1,403			—			—			—
First mortgage bonds, maturing 2019-2048(a)	4.32	%	25,628			8,759			13,100			7,574			5,526			1,099			2,670			—
Capital leases, maturing 2019-2051(b)	5.06	%	941			109			251			137			114			2			10			—
Tax-exempt bonds, maturing 2019-2041(c)	3.40	%	941			243			48			48			—			77			572			—
Notes payable and commercial paper(d)	2.73	%	4,035			—			—			—			—			—			—			—
Money pool/intercompany borrowings			—			739			1,385			444			108			299			317			198
Fair value hedge carrying value adjustment			5			5			—			—			—			—			—			—
Unamortized debt discount and premium, net(e)			1,434			(23		)	(29		)	(15		)	(11		)	(31		)	(8		)	(1		)
Unamortized debt issuance costs(f)			(297		)	(54		)	(112		)	(40		)	(61		)	(7		)	(20		)	(11		)
Total debt	4.13	%	$	57,939		$	11,378		$	20,146		$	8,498		$	7,429		$	2,439		$	3,949		$	2,336
Short-term notes payable and commercial paper			(3,410		)	—			—			—			—			—			—			—
Short-term money pool/intercompany borrowings			—			(439		)	(1,235		)	(294		)	(108		)	(274		)	(167		)	(198		)
Current maturities of long-term debt(g)			(3,406		)	(6		)	(1,672		)	(603		)	(270		)	(551		)	(63		)	(350		)
Total long-term debt(g)			$	51,123		$	10,933		$	17,239		$	7,601		$	7,051		$	1,614		$	3,719		$	1,788

(a) Substantially all electric utility property is mortgaged under mortgage bond indentures.

(b) Duke Energy includes $63 million and $531 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP.

(c) Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.

(d) Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper program was 16 days.

(e) Duke Energy includes $1,380 million and $156 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.

(f) Duke Energy includes $41 million in purchase accounting adjustments primarily related to the merger with Progress Energy.

(g) Refer to Note 17 for additional information on amounts from consolidated VIEs.

	December 31, 2017
	Weighted
	Average					Duke						Duke			Duke			Duke			Duke
	Interest		Duke			Energy			Progress			Energy			Energy			Energy			Energy
(in millions)	Rate		Energy			Carolinas			Energy			Progress			Florida			Ohio			Indiana			Piedmont
Unsecured debt, maturing 2018-2073	4.17	%	$	20,409		$	1,150		$	3,950		$	—		$	550		$	900		$	411		$	2,050
Secured debt, maturing 2018-2037	3.15	%	4,458			450			1,757			300			1,457			—			—			—
First mortgage bonds, maturing 2018-2047(a)	4.51	%	23,529			7,959			11,801			6,776			5,025			1,100			2,669			—
Capital leases, maturing 2018-2051(b)	4.55	%	1,000			61			269			139			129			5			11			—
Tax-exempt bonds, maturing 2019-2041(c)	3.23	%	941			243			48			48			—			77			572			—
Notes payable and commercial paper(d)	1.57	%	2,788			—			—			—			—			—			—			—
Money pool/intercompany borrowings			—			404			955			390			—			54			311			364
Fair value hedge carrying value adjustment			6			6			—			—			—			—			—			—
Unamortized debt discount and premium, net(e)			1,582			(19		)	(30		)	(16		)	(10		)	(33		)	(9		)	(1		)
Unamortized debt issuance costs(f)			(271		)	(47		)	(108		)	(40		)	(56		)	(7		)	(21		)	(12		)
Total debt	4.09	%	$	54,442		$	10,207		$	18,642		$	7,597		$	7,095		$	2,096		$	3,944		$	2,401
Short-term notes payable and commercial paper			(2,163		)	—			—			—			—			—			—			—
Short-term money pool/intercompany borrowings			—			(104		)	(805		)	(240		)	—			(29		)	(161		)	(364		)
Current maturities of long-term debt(g)			(3,244		)	(1,205		)	(771		)	(3		)	(768		)	(3		)	(3		)	(250		)
Total long-term debt(g)			$	49,035		$	8,898		$	17,066		$	7,354		$	6,327		$	2,064		$	3,780		$	1,787

(a) Substantially all electric utility property is mortgaged under mortgage bond indentures.

(b) Duke Energy includes $81 million and $603 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP.

(c) Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.

(d) Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper programs was 14 days.

(e) Duke Energy includes $1,509 million and $176 million purchase accounting adjustments related to the mergers with Progress Energy and Piedmont, respectively.

(f) Duke Energy includes $47 million in purchase accounting adjustments primarily related to the merger with Progress Energy.

(g) Refer to Note 17 for additional information on amounts from consolidated VIEs.

Schedule of Maturities of Long-term Debt

The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable and commercial paper and money pool borrowings for the Subsidiary Registrants.

	December 31, 2018
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy(a)		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
2019	$	3,408	$	6	$	1,674	$	603	$	270	552		$	63	$	350
2020	3,765		907		926		354		572		—		503		—
2021	4,803		503		2,004		904		600		50		70		160
2022	2,745		353		1,032		505		77		—		94		—
2023	3,375		1,303		535		456		79		350		153		45
Thereafter	35,288		7,940		12,880		5,437		5,793		1,251		2,925		1,595
Total long-term debt, including current maturities	$	53,384	$	11,012	$	19,051	$	8,259	$	7,391	$	2,203	$	3,808	$	2,150

(a) Excludes $1,578 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition.

Schedule of Long-term Debt Instruments

The following tables summarize significant debt issuances (in millions).

				Year Ended December 31, 2018
						Duke		Duke		Duke		Duke
	Maturity	Interest		Duke		Energy		Energy		Energy		Energy
Issuance Date	Date	Rate		Energy		(Parent)		Carolinas		Progress		Florida
Unsecured Debt
March 2018(a)	April 2025	3.950	%	$	250	$	250	$	—	$	—	$	—
May 2018(b)	May 2021	3.114	%	500		500		—		—		—
September 2018(c)	September 2078	5.625	%	500		500		—		—		—
First Mortgage Bonds
March 2018(d)	March 2023	3.050	%	500		—		500		—		—
March 2018(d)	March 2048	3.950	%	500		—		500		—		—
June 2018(e)	July 2028	3.800	%	600		—		—		—		600
June 2018(e)	July 2048	4.200	%	400		—		—		—		400
August 2018(f)	September 2023	3.375	%	300		—		—		300		—
August 2018(f)	September 2028	3.700	%	500		—		—		500		—
November 2018(g)	May 2022	3.350	%	350		—		350		—		—
November 2018(g)	November 2028	3.950	%	650		—		650		—		—
Total issuances				$	5,050	$	1,250	$	2,000	$	800	$	1,000

(a) Debt issued to pay down short-term debt.

(b) Debt issued to pay down short-term debt. Debt issuance has a floating debt rate.

(c) Callable after September 2023 at par. Junior subordinated hybrid debt issued to pay down short-term debt and for general corporate

purposes.

(d) Debt issued to repay at maturity a $300 million first mortgage bond due April 2018, pay down intercompany short-term debt and for general corporate purposes.

(e) Debt issued to repay a portion of intercompany short-term debt under the money pool borrowing arrangement and for general corporate purposes.

(f) Debt issued to repay short-term debt and for general corporate purposes.

(g) Debt issued to fund eligible green energy projects, including zero-carbon solar and energy storage, in the Carolinas.

						Year Ended December 31, 2017
								Duke		Duke		Duke		Duke		Duke
	Maturity		Interest			Duke		Energy		Energy		Energy		Energy		Energy
Issuance Date	Date		Rate			Energy		(Parent)		Carolinas		Progress		Florida		Ohio
Unsecured Debt
April 2017(a)	April 2025		3.364	%		$	420	$	420	$	—	$	—	$	—	$	—
June 2017(b)	June 2020		2.100	%		330		330		—		—		—		—
August 2017(c)	August 2022		2.400	%		500		500		—		—		—		—
August 2017(c)	August 2027		3.150	%		750		750		—		—		—		—
August 2017(c)	August 2047		3.950	%		500		500		—		—		—		—
December 2017(d)	December 2019	(k)	2.100	%		400		—		—		—		400		—
Secured Debt
February 2017(e)	June 2034		4.120	%		587		—		—		—		—		—
August 2017(f)	December 2036		4.110	%		233		—		—		—		—		—
First Mortgage Bonds
January 2017(g)	January 2020		1.850	%		250		—		—		—		250		—
January 2017(g)	January 2027		3.200	%		650		—		—		—		650		—
March 2017(h)	June 2046		3.700	%		100		—		—		—		—		100
September 2017(i)	September 2020		1.500	%	(l)	300		—		—		300		—		—
September 2017(i)	September 2047		3.600	%		500		—		—		500		—		—
November 2017(j)	December 2047		3.700	%		550		—		550		—		—		—
Total issuances						$	6,070	$	2,500	$	550	$	800	$	1,300	$	100

(a) Proceeds were used to refinance $400 million of unsecured debt at maturity and to repay a portion of outstanding commercial paper.

(b) Debt issued to repay a portion of outstanding commercial paper.

(c) Debt issued to repay at maturity $700 million of unsecured debt, to repay outstanding commercial paper and for general corporate purposes.

(d) Debt issued to fund storm restoration costs related to Hurricane Irma and for general corporate purposes.

(e) Portfolio financing of four Texas and Oklahoma wind facilities. Duke Energy pledged substantially all of the assets of these wind facilities and is nonrecourse to Duke Energy. Proceeds were used to reimburse Duke Energy for a portion of previously funded construction expenditures.

(f) Portfolio financing of eight solar facilities located in California, Colorado and New Mexico. Duke Energy pledged substantially all of the assets of these solar facilities and is nonrecourse to Duke Energy. Proceeds were used to reimburse Duke Energy for a portion of previously funded construction expenditures.

(g) Debt issued to fund capital expenditures for ongoing construction and capital maintenance, to repay a $250 million aggregate principal amount of bonds at maturity and for general corporate purposes.

(h) Proceeds were used to fund capital expenditures for ongoing construction, capital maintenance and for general corporate purposes.

(i) Debt issued to repay at maturity a $200 million aggregate principal amount of bonds at maturity, pay down intercompany short-term debt and for general corporate purposes, including capital expenditures.

(j) Debt issued to refinance $400 million aggregate principal amount of bonds due January 2018, pay down intercompany short-term debt and for general corporate purposes.

(k) Principal balance will be repaid in equal quarterly installments beginning in March 2018.

(l) Debt issuance has a floating interest rate.

Schedule Of Line Of Credit Facilities

The table below includes the current borrowing sublimits and available capacity under these credit facilities.

	December 31, 2018
				Duke			Duke			Duke			Duke			Duke			Duke
	Duke			Energy			Energy			Energy			Energy			Energy			Energy
(in millions)	Energy			(Parent)			Carolinas			Progress			Florida			Ohio			Indiana			Piedmont
Facility size(a)	$	8,000		$	2,650		$	1,750		$	1,400		$	650		$	450		$	600		$	500
Reduction to backstop issuances
Commercial paper(b)	(3,022		)	(917		)	(739		)	(444		)	(108		)	(299		)	(317		)	(198		)
Outstanding letters of credit	(53		)	(45		)	(4		)	(2		)	—			—			—			(2		)
Tax-exempt bonds	(81		)	—			—			—			—			—			(81		)	—
Coal ash set-aside	(500		)	—			(250		)	(250		)	—			—			—			—
Available capacity	$	4,344		$	1,688		$	757		$	704		$	542		$	151		$	202		$	300

(a) Represents the sublimit of each borrower.

(b) Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets.