Revenue (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations:

	Remaining Performance Obligations
(in millions)	2020		2021		2022		2023		2024		Thereafter		Total
Progress Energy	$	30	$	92	$	94	$	44	$	45	$	58	$	363
Duke Energy Progress	2		8		8		8		8		—		34
Duke Energy Florida	28		84		86		36		37		58		329
Duke Energy Indiana	2		5		—		7		12		36		62

Estimated remaining performance obligations are as follows:

	Remaining Performance Obligations
(in millions)	2020		2021		2022		2023		2024		Thereafter		Total
Piedmont	$	17	$	65	$	64	$	61	$	58	$	377	$	642

Disaggregation of Revenue

Disaggregated revenues are presented as follows:

	Three Months Ended September 30, 2020
			Duke					Duke		Duke		Duke			Duke
(in millions)	Duke		Energy			Progress		Energy		Energy		Energy			Energy
By market or type of customer	Energy		Carolinas			Energy		Progress		Florida		Ohio			Indiana			Piedmont
Electric Utilities and Infrastructure
Residential	$	2,936	$	883		$	1,550	$	616	$	934	$	213		$	289		$	—
General	1,804		664			805		384		421		119			212			—
Industrial	797		342			245		179		66		35			175			—
Wholesale	603		117			412		358		54		10			64			—
Other revenues	238		62			167		75		92		23			22			—
Total Electric Utilities and Infrastructure revenue from contracts with customers	$	6,378	$	2,068		$	3,179	$	1,612	$	1,567	$	400		$	762		$	—
Gas Utilities and Infrastructure
Residential	$	112	$	—		$	—	$	—	$	—	$	55		$	—		$	57
Commercial	64		—			—		—		—		20			—			44
Industrial	24		—			—		—		—		3			—			22
Power Generation	—		—			—		—		—		—			—			10
Other revenues	16		—			—		—		—		3			—			11
Total Gas Utilities and Infrastructure revenue from contracts with customers	$	216	$	—		$	—	$	—	$	—	$	81		$	—		$	144
Commercial Renewables
Revenue from contracts with customers	$	57	$	—		$	—	$	—	$	—	$	—		$	—		$	—
Other
Revenue from contracts with customers	$	7	$	—		$	—	$	—	$	—	$	—		$	—		$	—
Total revenue from contracts with customers	$	6,658	$	2,068		$	3,179	$	1,612	$	1,567	$	481		$	762		$	144
Other revenue sources(a)	$	63	$	(10	)	$	18	$	14	$	—	$	(8	)	$	(1	)	$	18
Total revenues	$	6,721	$	2,058		$	3,197	$	1,626	$	1,567	$	473		$	761		$	162

(a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.

	Three Months Ended September 30, 2019
			Duke				Duke		Duke		Duke			Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy			Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio			Indiana			Piedmont
Electric Utilities and Infrastructure
Residential	$	2,923	$	892	$	1,522	$	625	$	897	$	215		$	294		$	—
General	1,885		687		843		399		444		127			225			—
Industrial	869		372		255		189		66		40			204			—
Wholesale	617		113		429		368		61		13			63			—
Other revenues	198		76		118		70		48		18			22			—
Total Electric Utilities and Infrastructure revenue from contracts with customers	$	6,492	$	2,140	$	3,167	$	1,651	$	1,516	$	413		$	808		$	—
Gas Utilities and Infrastructure
Residential	$	113	$	—	$	—	$	—	$	—	$	53		$	—		$	59
Commercial	68		—		—		—		—		21			—			47
Industrial	26		—		—		—		—		4			—			25
Power Generation	—		—		—		—		—		—			—			13
Other revenues	16		—		—		—		—		3			—			13
Total Gas Utilities and Infrastructure revenue from contracts with customers	$	223	$	—	$	—	$	—	$	—	$	81		$	—		$	157
Commercial Renewables
Revenue from contracts with customers	$	69	$	—	$	—	$	—	$	—	$	—		$	—		$	—
Other
Revenue from contracts with customers	$	8	$	—	$	—	$	—	$	—	$	—		$	—		$	—
Total revenue from contracts with customers	$	6,792	$	2,140	$	3,167	$	1,651	$	1,516	$	494		$	808		$	157
Other revenue sources(a)	$	148	$	22	$	75	$	37	$	32	$	(5	)	$	(1	)	$	11
Total revenues	$	6,940	$	2,162	$	3,242	$	1,688	$	1,548	$	489		$	807		$	168

(a)

Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.

	Nine Months Ended September 30, 2020
			Duke					Duke		Duke		Duke			Duke
(in millions)	Duke		Energy			Progress		Energy		Energy		Energy			Energy
By market or type of customer	Energy		Carolinas			Energy		Progress		Florida		Ohio			Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	7,451	$	2,316		$	3,792	$	1,578	$	2,214	$	558		$	785	$	—
General	4,691		1,720			2,080		1,001		1,079		336			554		—
Industrial	2,148		871			673		487		186		103			502		—
Wholesale	1,535		332			1,018		877		141		22			163		—
Other revenues	713		184			476		208		268		62			63		—
Total Electric Utilities and Infrastructure revenue from contracts with customers	$	16,538	$	5,423		$	8,039	$	4,151	$	3,888	$	1,081		$	2,067	$	—
Gas Utilities and Infrastructure
Residential	$	631	$	—		$	—	$	—	$	—	$	214		$	—	$	417
Commercial	308		—			—		—		—		86			—		222
Industrial	92		—			—		—		—		12			—		80
Power Generation	—		—			—		—		—		—			—		27
Other revenues	58		—			—		—		—		12			—		46
Total Gas Utilities and Infrastructure revenue from contracts with customers	$	1,089	$	—		$	—	$	—	$	—	$	324		$	—	$	792
Commercial Renewables
Revenue from contracts with customers	$	170	$	—		$	—	$	—	$	—	$	—		$	—	$	—
Other
Revenue from contracts with customers	$	20	$	—		$	—	$	—	$	—	$	—		$	—	$	—
Total Revenue from contracts with customers	$	17,817	$	5,423		$	8,039	$	4,151	$	3,888	$	1,405		$	2,067	$	792
Other revenue sources(a)	$	274	$	(7	)	$	78	$	56	$	9	$	(11	)	$	3	$	79
Total revenues	$	18,091	$	5,416		$	8,117	$	4,207	$	3,897	$	1,394		$	2,070	$	871

(a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.

	Nine Months Ended September 30, 2019
			Duke				Duke		Duke		Duke			Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy			Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio			Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	7,597	$	2,331	$	3,879	$	1,657	$	2,222	$	563		$	825	$	—
General	4,896		1,714		2,225		1,044		1,181		335			619		—
Industrial	2,339		927		708		514		194		109			595		—
Wholesale	1,685		341		1,133		992		141		36			176		—
Other revenues	557		222		389		239		150		59			66		—
Total Electric Utilities and Infrastructure revenue from contracts with customers	$	17,074	$	5,535	$	8,334	$	4,446	$	3,888	$	1,102		$	2,281	$	—
Gas Utilities and Infrastructure
Residential	$	673	$	—	$	—	$	—	$	—	$	229		$	—	$	443
Commercial	359		—		—		—		—		96			—		263
Industrial	103		—		—		—		—		14			—		91
Power Generation	—		—		—		—		—		—			—		39
Other revenues	101		—		—		—		—		13			—		88
Total Gas Utilities and Infrastructure revenue from contracts with customers	$	1,236	$	—	$	—	$	—	$	—	$	352		$	—	$	924
Commercial Renewables
Revenue from contracts with customers	$	157	$	—	$	—	$	—	$	—	$	—		$	—	$	—
Other
Revenue from contracts with customers	$	18	$	—	$	—	$	—	$	—	$	—		$	—	$	—
Total Revenue from contracts with customers	$	18,485	$	5,535	$	8,334	$	4,446	$	3,888	$	1,454		$	2,281	$	924
Other revenue sources(a)	$	491	$	84	$	224	$	113	$	99	$	(1	)	$	8	$	32
Total revenues	$	18,976	$	5,619	$	8,558	$	4,559	$	3,987	$	1,453		$	2,289	$	956

(a)

Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.

Reserve for Credit Losses for Trade and Other Receivables

As described in Note 1, Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. The following table presents the reserve for credit losses for trade and other receivables based on adoption of the new standard.

	Three Months Ended September 30, 2020
				Duke						Duke			Duke		Duke		Duke
	Duke			Energy			Progress			Energy			Energy		Energy		Energy
(in millions)	Energy			Carolinas			Energy			Progress			Florida		Ohio		Indiana		Piedmont
Balance at June 30, 2020	$	102		$	14		$	29		$	14		$	14	$	5	$	3	$	6
Write-Offs	12			(2		)	15			13			2		—		—		—
Credit Loss Expense	(9		)	—			(16		)	(15		)	—		—		—		3
Other Adjustments	28			10			9			9			—		—		—		—
Balance at September 30, 2020	$	133		$	22		$	37		$	21		$	16	$	5	$	3	$	9

	Nine Months Ended September 30, 2020
				Duke					Duke			Duke		Duke		Duke
	Duke			Energy			Progress		Energy			Energy		Energy		Energy
(in millions)	Energy			Carolinas			Energy		Progress			Florida		Ohio		Indiana		Piedmont
Balance at December 31, 2019	$	76		$	10		$	16	$	8		$	7	$	4	$	3	$	6
Cumulative Change in Accounting Principle	5			1			2		1			1		—		—		1
Write-Offs	(7		)	(8		)	8		8			—		—		—		(5		)
Credit Loss Expense	24			9			2		(5		)	8		1		—		7
Other Adjustments	35			10			9		9			—		—		—		—
Balance at September 30, 2020	$	133		$	22		$	37	$	21		$	16	$	5	$	3	$	9

Aging of Trade Receivables

These receivables for unbilled revenues are shown in the table below.

(in millions)	September 30, 2020		December 31, 2019
Duke Energy Ohio	$	66	$	82
Duke Energy Indiana	106		115

The aging of trade receivables is presented in the table below. Duke Energy considers receivables greater than 30 days outstanding past due.

	September 30, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Receivables	$	788	$	284	$	274	$	139	$	135	$	1	$	16	$	5
0-30 days	1,800		475		847		439		406		44		23		66
30-60 days	227		86		84		48		36		7		2		8
60-90 days	94		39		31		20		11		3		1		3
90+ days	263		85		68		37		31		40		9		20
Trade and Other Receivables	$	3,172	$	969	$	1,304	$	683	$	619	$	95	$	51	$	102

Unbilled revenues are included within Receivables and Receivables of VIEs on the Condensed Consolidated Balance Sheets as shown in the following table.

(in millions)	September 30, 2020		December 31, 2019
Duke Energy	$	788	$	843
Duke Energy Carolinas	284		298
Progress Energy	274		217
Duke Energy Progress	139		122
Duke Energy Florida	135		95
Duke Energy Ohio	1		1
Duke Energy Indiana	16		16
Piedmont	5		78