Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 15. See Note 16 for additional information related to investments by major security type for the Duke Energy Registrants.

	December 31, 2019
(in millions)	Total Fair Value			Level 1			Level 2			Level 3			Not Categorized
NDTF equity securities	$	5,684		$	5,633		$	—		$	—		$	51
NDTF debt securities	2,469			826			1,643			—			—
Other equity securities	122			122			—			—			—
Other debt securities	310			91			219			—			—
Derivative assets	25			3			7			15			—
Total assets	8,610			6,675			1,869			15			51
NDTF equity security contracts	(23		)	—			(23		)	—			—
Derivative liabilities	(277		)	(15		)	(145		)	(117		)	—
Net assets (liabilities)	$	8,310		$	6,660		$	1,701		$	(102	)	$	51

	December 31, 2018
(in millions)	Total Fair Value			Level 1			Level 2			Level 3			Not Categorized
NDTF equity securities	$	4,475		$	4,410		$	—		$	—		$	65
NDTF debt securities	2,231			576			1,655			—			—
Other equity securities	99			99			—			—			—
Other debt securities	270			67			203			—			—
Derivative assets	57			4			25			28			—
Total assets	7,132			5,156			1,883			28			65
Derivative liabilities	(242		)	(11		)	(90		)	(141		)	—
Net assets (liabilities)	$	6,890		$	5,145		$	1,793		$	(113	)	$	65

Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs

The following table provides reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.

	December 31, 2019			December 31, 2018
(in millions)	Derivatives (net)			Derivatives (net)
Balance at beginning of period	$	(113	)	$	(114	)
Purchases, sales, issuances and settlements:
Purchases	37			57
Settlements	(44		)	(57		)
Total gains included on the Consolidated Balance Sheet	18			1
Balance at end of period	$	(102	)	$	(113	)

Quantitative Information Table - Level 3

The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.

	December 31, 2019
												Weighted
	Fair Value											Average
Investment Type	(in millions)			Valuation Technique	Unobservable Input	Range						Range
Duke Energy Ohio
FTRs	$	4		RTO auction pricing	FTR price – per MWh	$	0.59		–	$	3.47	$	2.07
Duke Energy Indiana
FTRs	11			RTO auction pricing	FTR price – per MWh	(0.66		)	–	9.24		1.15
Piedmont
Natural gas contracts	(117		)	Discounted cash flow	Forward natural gas curves – price per MMBtu	1.59			–	2.46		1.91
Duke Energy
Total Level 3 derivatives	$	(102	)

	December 31, 2018
	Fair Value
Investment Type	(in millions)			Valuation Technique	Unobservable Input	Range
Duke Energy Ohio
FTRs	$	6		RTO auction pricing	FTR price – per MWh	$	1.19		–	$	4.59
Duke Energy Indiana
FTRs	22			RTO auction pricing	FTR price – per MWh	(2.07		)	–	8.27
Piedmont
Natural gas contracts	(141		)	Discounted cash flow	Forward natural gas curves – price per MMBtu	1.87			–	2.95
Duke Energy
Total Level 3 derivatives	$	(113	)

Schedule of Long-term debt Fair Value

The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements.

	December 31, 2019				December 31, 2018
(in millions)	Book Value		Fair Value		Book Value		Fair Value
Duke Energy(a)	$	58,126	$	63,062	$	54,529	$	54,534
Duke Energy Carolinas	11,900		13,516		10,939		11,471
Progress Energy	19,634		22,291		18,911		19,885
Duke Energy Progress	9,058		9,934		8,204		8,300
Duke Energy Florida	7,987		9,131		7,321		7,742
Duke Energy Ohio	2,619		2,964		2,165		2,239
Duke Energy Indiana	4,057		4,800		3,782		4,158
Piedmont	2,384		2,642		2,138		2,180

(a)

Book value of long-term debt includes $1.5 billion as of December 31, 2019, and $1.6 billion as of December 31, 2018, of unamortized debt discount and premium, net in purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.

Duke Energy Carolinas

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.

	December 31, 2019
(in millions)	Total Fair Value			Level 1		Level 2			Not Categorized
NDTF equity securities	$	3,154		$	3,103	$	—		$	51
NDTF debt securities	1,193			227		966			—
Total assets	4,347			3,330		966			51
Derivative liabilities	(49		)	—		(49		)	—
Net assets	$	4,298		$	3,330	$	917		$	51

	December 31, 2018
(in millions)	Total Fair Value			Level 1		Level 2			Not Categorized
NDTF equity securities	$	2,484		$	2,419	$	—		$	65
NDTF debt securities	1,069			149		920			—
Derivative assets	3			—		3			—
Total assets	3,556			2,568		923			65
Derivative liabilities	(33		)	—		(33		)	—
Net assets	$	3,523		$	2,568	$	890		$	65

Progress Energy

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.

	December 31, 2019								December 31, 2018
(in millions)	Total Fair Value			Level 1		Level 2			Total Fair Value			Level 1		Level 2
NDTF equity securities	$	2,530		$	2,530	$	—		$	1,991		$	1,991	$	—
NDTF debt securities	1,276			599		677			1,162			427		735
Other debt securities	100			49		51			64			17		47
Derivative assets	7			—		7			4			—		4
Total assets	3,913			3,178		735			3,221			2,435		786
NDTF equity security contracts	(23		)	—		(23		)	—			—		—
Derivative liabilities	(65		)	—		(65		)	(44		)	—		(44		)
Net assets	$	3,825		$	3,178	$	647		$	3,177		$	2,435	$	742

Duke Energy Progress

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.

	December 31, 2019								December 31, 2018
(in millions)	Total Fair Value			Level 1		Level 2			Total Fair Value			Level 1		Level 2
NDTF equity securities	$	2,077		$	2,077	$	—		$	1,588		$	1,588	$	—
NDTF debt securities	974			297		677			906			294		612
Other debt securities	2			2		—			6			6		—
Derivative assets	—			—		—			4			—		4
Total assets	3,053			2,376		677			2,504			1,888		616
Derivative liabilities	(49		)	—		(49		)	(27		)	—		(27		)
Net assets	$	3,004		$	2,376	$	628		$	2,477		$	1,888	$	589

Duke Energy Florida

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.

	December 31, 2019								December 31, 2018
(in millions)	Total Fair Value			Level 1		Level 2			Total Fair Value			Level 1		Level 2
NDTF equity securities	$	453		$	453	$	—		$	403		$	403	$	—
NDTF debt securities	302			302		—			256			133		123
Other debt securities	55			4		51			48			1		47
Derivative assets	7			—		7			—			—		—
Total assets	817			759		58			707			537		170
NDTF equity security contracts	(23		)	—		(23		)	—			—		—
Derivative liabilities	(1		)	—		(1		)	(9		)	—		(9		)
Net assets	$	793		$	759	$	34		$	698		$	537	$	161

Duke Energy Indiana

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.

	December 31, 2019										December 31, 2018
(in millions)	Total Fair Value			Level 1			Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3
Other equity securities	$	81		$	81		$	—	$	—	$	67	$	67	$	—	$	—
Other debt securities	44			—			44		—		41		—		41		—
Derivative assets	13			2			—		11		23		1		—		22
Total assets	138			83			44		11		131		68		41		22
Derivative liabilities	(1		)	(1		)	—		—		—		—		—		—
Total assets	$	137		$	82		$	44	$	11	$	131	$	68	$	41	$	22

Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs

The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.

	Derivatives (net)
	Years Ended December 31,
(in millions)	2019			2018
Balance at beginning of period	$	22		$	27
Purchases, sales, issuances and settlements:
Purchases	28			50
Settlements	(36		)	(53		)
Total losses included on the Consolidated Balance Sheet	(3		)	(2		)
Balance at end of period	$	11		$	22

Piedmont

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.

	December 31, 2019								December 31, 2018
(in millions)	Total Fair Value			Level 1		Level 3			Total Fair Value			Level 1		Level 3
Derivative assets	$	1		$	1	$	—		$	3		$	3	$	—
Derivative liabilities	(117		)	—		(117		)	(141		)	—		(141		)
Net (liabilities) assets	$	(116	)	$	1	$	(117	)	$	(138	)	$	3	$	(141	)

Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs

The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.

	Derivatives (net)
	Years Ended December 31,
(in millions)	2019			2018
Balance at beginning of period	$	(141	)	$	(142	)
Total gains and settlements	24			1
Balance at end of period	$	(117	)	$	(141	)