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Business Segments
 6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
Duke Energy
Duke Energy's segment structure includes the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure segment primarily includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. The Gas Utilities and Infrastructure segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky, and Duke Energy's natural gas storage and midstream pipeline investments.
The Commercial Renewables segment is primarily comprised of nonregulated utility-scale wind and solar generation assets located throughout the U.S. On April 24, 2019, Duke Energy executed an agreement to sell a minority interest in a portion of certain renewable assets. The portion of Duke Energy’s commercial renewables energy portfolio to be sold includes 49 percent of 37 operating wind, solar and battery storage assets and 33 percent of 11 operating solar assets across the U.S. The sale will result in pretax proceeds to Duke Energy of $415 million. Duke Energy will retain control of these assets, and, therefore, no gain or loss is expected to be recognized on the Condensed Consolidated Statements of Operations upon closing of the transaction. The sale is subject to customary closing conditions, including approvals from the FERC, the Public Utility Commission of Texas and the Committee on Foreign Investment in the U.S. Duke Energy received FERC approval on July 26, 2019. The transaction is expected to close in the second half of 2019.
During the three months ended June 30, 2019, Duke Energy evaluated recoverability of its renewable merchant plants principally located in the Electric Reliability Council of Texas West market due to declining market pricing and declining long-term forecasted energy and capacity prices, primarily driven by lower forecasted natural gas prices. Duke Energy determined that the assets were not impaired because the carrying value of $160 million approximates the aggregate estimated future cash flows and further testing was not required. A continued decline in pricing would likely result in a future impairment.
The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs, Duke Energy’s wholly owned captive insurance company, Bison, and Duke Energy's interest in NMC.
Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.
 
Three Months Ended June 30, 2019
 
Electric

 
Gas

 
 
 
Total

 
 
 
 
 
 
 
Utilities and

 
Utilities and

 
Commercial

 
Reportable

 
 
 
 
 
 
(in millions)
Infrastructure

 
Infrastructure

 
Renewables

 
Segments

 
Other

 
Eliminations

 
Total

Unaffiliated revenues
$
5,467

 
$
282

 
$
118

 
$
5,867

 
$
6

 
$
—

 
$
5,873

Intersegment revenues
8

 
24

 
—

 
32

 
19

 
(51
)
 
—

Total revenues
$
5,475

 
$
306

 
$
118

 
$
5,899

 
$
25

 
$
(51
)
 
$
5,873

Segment income (loss)
$
809

 
$
40

 
$
86

 
$
935

 
$
(115
)
 
$
—

 
$
820

Add back noncontrolling interests(a)
 
 
 
 
 
 
 
 
 
 
 
 
(84
)
Add back preferred stock dividend
 
 
 
 
 
 
 
 
 
 
 
 
12

Net income
 
 
 
 
 
 
 
 
 
 
 
 
$
748

Segment assets
$
131,640

 
$
12,943

 
$
4,870

 
$
149,453

 
$
3,815

 
$
181

 
$
153,449


 
Three Months Ended June 30, 2018
 
Electric

 
Gas

 
 
 
Total

 
 
 
 
 
 
 
Utilities and

 
Utilities and

 
Commercial

 
Reportable

 
 
 
 
 
 
(in millions)
Infrastructure

 
Infrastructure

 
Renewables

 
Segments

 
Other

 
Eliminations

 
Total

Unaffiliated revenues
$
5,215

 
$
294

 
$
119

 
$
5,628

 
$
15

 
$
—

 
$
5,643

Intersegment revenues
8

 
24

 
—

 
32

 
17

 
(49
)
 
—

Total revenues
$
5,223

 
$
318

 
$
119

 
$
5,660

 
$
32

 
$
(49
)
 
$
5,643

Segment income (loss)(b)(c)
$
575

 
$
28

 
$
38

 
$
641

 
$
(136
)
 
$
—

 
$
505

Add back noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
2

Loss from discontinued operations, net of tax
 
 
 
 
 
 
 
 
 
 
 
 
(5
)
Net income
 
 
 
 
 
 
 
 
 
 
 
 
$
502


Duke Energy Ohio
Duke Energy Ohio has two reportable segments, Electric Utilities and Infrastructure and Gas Utilities and Infrastructure. The remainder of Duke Energy Ohio's operations is presented as Other.
 
Three Months Ended June 30, 2019
 
Electric

 
Gas

 
Total

 
 
 
 
 
Utilities and

 
Utilities and

 
Reportable

 
 
 
 
(in millions)
Infrastructure

 
Infrastructure

 
Segments

 
Other

 
Total

Total revenues
$
336

 
$
97

 
$
433

 
$
—

 
$
433

Segment income/Net (loss) income
$
31

 
$
17

 
$
48

 
$
(1
)
 
$
47

Segment assets
$
5,914

 
$
2,948

 
$
8,862

 
$
27

 
$
8,889

 
Three Months Ended June 30, 2018
 
Electric

 
Gas

 
Total

 
 
 
 
 
Utilities and

 
Utilities and

 
Reportable

 
 
 
 
(in millions)
Infrastructure

 
Infrastructure

 
Segments

 
Other

 
Total

Total revenues
$
346

 
$
103

 
$
449

 
$
10

 
$
459

Segment income/Net (loss) income
$
39

 
$
18

 
$
57

 
$
(11
)
 
$
46


 
Six Months Ended June 30, 2019
 
Electric

 
Gas

 
Total

 
 
 
 
 
Utilities and

 
Utilities and

 
Reportable

 
 
 
 
(in millions)
Infrastructure

 
Infrastructure

 
Segments

 
Other

 
Total

Total revenues
$
691

 
$
273

 
$
964

 
$
—

 
$
964

Segment income/Net (loss) income
$
67

 
$
52

 
$
119

 
$
(3
)
 
$
116

 
Six Months Ended June 30, 2018
 
Electric

 
Gas

 
Total

 
 
 
 
 
Utilities and

 
Utilities and

 
Reportable

 
 
 
 
(in millions)
Infrastructure

 
Infrastructure

 
Segments

 
Other

 
Total

Total revenues
$
682

 
$
277

 
$
959

 
$
24

 
$
983

Segment income/Net (loss) income(a)
$
72

 
$
52

 
$
124

 
$
(103
)
 
$
21

(a)    Other includes the loss on the sale of Beckjord described above.