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Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2020

Variable Interest Entities [Line Items]

The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.



	Duke Energy
			Duke Energy		Duke Energy		Duke Energy
			Carolinas		Progress		Florida
(in millions)	CRC		DERF		DEPR		DEFR
Expiration date	February 2023		December 2022		April 2023		April 2021
Credit facility amount	$	350	$	475	$	350	$	250
Amounts borrowed at September 30, 2020	350		475		350		250
Amounts borrowed at December 31, 2019	350		474		325		250
Restricted Receivables at September 30, 2020	479		770		559		506
Restricted Receivables at December 31, 2019	522		642		489		336

VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets.



	September 30, 2020
	Duke Energy												Duke		Duke
	Pipeline			Commercial			Other						Energy		Energy
(in millions)	Investments			Renewables			VIEs			Total			Ohio		Indiana
Receivables from affiliated companies	$	—		$	(1	)	$	—		$	(1	)	$	45	$	74
Other current assets	413			—			—			413			—		$	—
Investments in equity method unconsolidated affiliates	—			487			1			488			—		—
Deferred tax asset	26			—			—			26			—		—
Total assets	$	439		$	486		$	1		$	926		$	45	$	74
Other current liabilities	927			—			3			930			—		—
Other noncurrent liabilities	19			—			10			29			—		—
Total liabilities	$	946		$	—		$	13		$	959		$	—	$	—
Net (liabilities) assets	$	(507	)	$	486		$	(12	)	$	(33	)	$	45	$	74



	December 31, 2019
	Duke Energy												Duke		Duke
	Pipeline			Commercial			Other						Energy		Energy
(in millions)	Investments			Renewables			VIEs			Total			Ohio		Indiana
Receivables from affiliated companies	$	—		$	(1	)	$	—		$	(1	)	$	64	$	77
Investments in equity method unconsolidated affiliates	1,179			300			—			1,479			—		—
Total assets	$	1,179		$	299		$	—		$	1,478		$	64	$	77
Taxes accrued	(1		)	—			—			(1		)	—		—
Other current liabilities	—			—			4			4			—		—
Deferred income taxes	59			—			—			59			—		—
Other noncurrent liabilities	—			—			11			11			—		—
Total liabilities	$	58		$	—		$	15		$	73		$	—	$	—
Net assets (liabilities)	$	1,121		$	299		$	(15	)	$	1,405		$	64	$	77

DEFPF | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets.



(in millions)	September 30, 2020		December 31, 2019
Receivables of VIEs	$	6	$	5
Regulatory Assets: Current	53		52
Current Assets: Other	16		39
Other Noncurrent Assets: Regulatory assets	951		989
Current Liabilities: Other	2		10
Current maturities of long-term debt	55		54
Long-Term Debt	1,001		1,057

Commercial Renewables | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The table below presents material balances reported on Duke Energy's Condensed Consolidated Balance Sheets related to Commercial Renewables VIEs.



(in millions)	September 30, 2020			December 31, 2019
Current Assets: Other	$	319		$	203
Property, Plant and Equipment: Cost	6,239			5,747
Accumulated depreciation and amortization	(1,200		)	(1,041		)
Other Noncurrent Assets: Other	79			106
Current maturities of long-term debt	161			162
Long-Term Debt	1,452			1,541
Other Noncurrent Liabilities: AROs	150			127
Other Noncurrent Liabilities: Other	342			228

Pipeline Investments | VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

For the three and nine months ended September 30, 2020, the ACP investment is considered a significant subsidiary because its income (loss) exceeds 10% of Duke Energy’s income (loss). The table below presents unaudited summarized financial information for ACP.



	Three Months Ended September 30,					Nine Months Ended September 30,
(in millions)	2020			2019		2020			2019
Net (Loss) Income	$	(163	)	$	65	$	(4,505	)	$	178

The table below presents Duke Energy's ownership interest and investment balances in these joint ventures.



			VIE Investment Amount (in millions)
	Ownership		September 30,			December 31,
Entity Name	Interest		2020			2019
ACP^(a)	47	%	$	(927	)	$	1,179
Constitution^(b)	24	%	—			—
Total			$	(927	)	$	1,179


(a)	During the quarter ended June 30, 2020, Duke Energy determined that it would no longer continue its investment in ACP as described above. The current liability related to the cancellation of the ACP pipeline project represents Duke Energy's continuing obligation to fund its share of ACP's obligations. See Notes 1, 3 and 4 for more information.

(b)

During the year ended December 31, 2019, Duke Energy recorded an other-than-temporary impairment related to Constitution. This charge resulted in the full write-down of Duke Energy's investment in Constitution.

CRC | VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following table shows the gross and net receivables sold.



	Duke Energy Ohio				Duke Energy Indiana
(in millions)	September 30, 2020		December 31, 2019		September 30, 2020		December 31, 2019
Receivables sold	$	226	$	253	$	310	$	307
Less: Retained interests	45		64		74		77
Net receivables sold	$	181	$	189	$	236	$	230

The following table shows sales and cash flows related to receivables sold.



	Duke Energy Ohio								Duke Energy Indiana
	Three Months Ended				Nine Months Ended				Three Months Ended				Nine Months Ended
	September 30,				September 30,				September 30,				September 30,
(in millions)	2020		2019		2020		2019		2020		2019		2020		2019
Sales
Receivables sold	$	462	$	479	$	1,428	$	1,483	$	717	$	762	$	1,947	$	2,172
Loss recognized on sale	2		4		8		11		3		4		9		13
Cash flows
Cash proceeds from receivables sold	$	449	$	471	$	1,439	$	1,516	$	689	$	762	$	1,941	$	2,200
Collection fees received	1		—		1		1		—		—		1		1
Return received on retained interests	1		1		3		5		1		2		4		7

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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