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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]  
Pension Plan Contributions The following table includes information related to the Duke Energy Registrants’ contributions to its qualified defined benefit pension plans.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Contributions Made:
2020$— $— $— $— $— $— $— $— 
201977 7 57 4 53 2 2 1 
2018141 46 45 25 20 — 8 — 
Fair Value and Allocation of Plan Assets
The following table includes the target asset allocations by asset class at December 31, 2020, and the actual asset allocations for the Duke Energy Master Retirement Trust.
Actual Allocation at
TargetDecember 31,
Allocation20202019
Global equity securities28 %30 %27 %
Global private equity securities1 %1 %1 %
Debt securities58 %55 %57 %
Return seeking debt securities4 %5 %5 %
Hedge funds3 %3 %3 %
Real estate and cash6 %6 %7 %
Total100 %100 %100 %
The following table presents target and actual asset allocations for the VEBA trusts at December 31, 2020.
Actual Allocation at
TargetDecember 31,
Allocation20202019
U.S. equity securities30 %36 %35 %
Non-U.S. equity securities6 %6 %9 %
Real estate2 %2 %2 %
Debt securities45 %42 %37 %
Cash17 %14 %17 %
Total100 %100 %100 %
The following tables provide the fair value measurement amounts for the Duke Energy Master Retirement Trust qualified pension and other post-retirement assets.
December 31, 2020
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$3,202 $3,162 $— $— $40 
Corporate debt securities4,162 — 4,162 — — 
Short-term investment funds397 247 150 — — 
Partnership interests97 — — — 97 
Hedge funds198 — — — 198 
U.S. government securities1,164 — 1,164 — — 
Governments bonds – foreign73 — 73 — — 
Cash98 98 — — — 
Net pending transactions and other investments88 34 54 — — 
Total assets(a)
$9,479 $3,541 $5,603 $— $335 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 26%, 32%, 15%, 17%, 5%, 7% and 4%, respectively, of the Duke Energy Master Retirement Trust at December 31, 2020. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
December 31, 2019
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,730 $2,712 $— $— $18 
Corporate debt securities3,999 — 3,999 — — 
Short-term investment funds545 455 90 — — 
Partnership interests104 — — — 104 
Hedge funds206 — — — 206 
U.S. government securities1,231 — 1,231 — — 
Guaranteed investment contracts11 — — 11 — 
Governments bonds – foreign78 — 78 — — 
Cash75 75 — — — 
Net pending transactions and other investments46 (43)89 — — 
Total assets(a)
$9,025 $3,199 $5,487 $11 $328 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 26%, 31%, 15%, 17%, 5%, 7% and 4%, respectively, of the Duke Energy Master Retirement Trust at December 31, 2019. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
The following tables provide the fair value measurement amounts for VEBA trust assets.
December 31, 2020
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$5 $5 
Real estate1 1 
Equity securities23 23 
Debt securities19 19 
Total assets$48 $48 
December 31, 2019
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$9 $9 
Real estate1 1 
Equity securities22 22 
Debt securities18 18 
Total assets$50 $50 
Master Trust Level 3 Rollforward
The following table provides a reconciliation of beginning and ending balances of Duke Energy Master Retirement Trust qualified pension and other post-retirement assets at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3).
(in millions)20202019
Balance at January 1$11 $27 
Sales(12)(18)
Total gains and other, net1 2 
Transfer of Level 3 assets to other classifications— — 
Balance at December 31$— $11 
Employee Savings Plan Matching Contributions
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ended December 31,
2020$213 $67 $57 $38 $19 $5 $11 $13 
2019214 66 58 38 20 5 11 13 
2018213 68 58 40 19 4 10 12 
Pension Plan | Qualified Plan  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Pension Costs
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$165 $51 $48 $27 $21 $5 $9 $6 
Interest cost on projected benefit obligation269 62 85 38 46 15 22 9 
Expected return on plan assets(572)(145)(190)(87)(101)(28)(42)(21)
Amortization of actuarial loss128 28 41 18 23 6 12 9 
Amortization of prior service credit(32)(8)(3)(2)(1)— (2)(9)
Amortization of settlement charges18 9 7 6 1 — 1 1 
Net periodic pension costs(a)(b)
$(24)$(3)$(12)$— $(11)$(2)$— $(5)
Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$158 $49 $46 $26 $20 $4 $9 $5 
Interest cost on projected benefit obligation317 75 100 45 54 18 26 10 
Expected return on plan assets(567)(147)(178)(88)(89)(28)(43)(22)
Amortization of actuarial loss108 24 39 15 24 4 8 8 
Amortization of prior service credit(32)(8)(3)(2)(1)— (2)(9)
Amortization of settlement charges6 2 1 1 — 2 — — 
Net periodic pension costs(a)(b)
$(10)$(5)$5 $(3)$8 $— $(2)$(8)
Year Ended December 31, 2018
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$182 $58 $51 $29 $22 $5 $11 $7 
Interest cost on projected benefit obligation299 72 94 43 50 17 23 11 
Expected return on plan assets(559)(147)(178)(85)(91)(28)(42)(22)
Amortization of actuarial loss132 29 44 21 23 5 10 11 
Amortization of prior service credit(32)(8)(3)(2)(1)— (2)(10)
Net periodic pension costs(a)(b)
$22 $4 $8 $6 $3 $(1)$— $(3)
(a)    Duke Energy amounts exclude $4 million, $4 million and $5 million for the years ended December 2020, 2019 and 2018, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)     Duke Energy Ohio amounts exclude $2 million, $2 million and $2 million for the years ended December 2020, 2019 and 2018, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)$(62)$(39)$(26)$(30)$4 $(2)$5 $(1)
Accumulated other comprehensive loss (income)
Deferred income tax expense (benefit)$2 $— $1 $— $1 $— $— $— 
Amortization of prior year service credit1 — — — — — — — 
Amortization of prior year actuarial losses(11)— (1)— (3)— — — 
Net amount recognized in accumulated other comprehensive income$(8)$— $— $— $(2)$— $— $— 
Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase$(212)$(156)$(79)$(59)$(20)$12 $22 $— 
Accumulated other comprehensive (income) loss
Deferred income tax expense (benefit)$20 $— $1 $— $(1)$— $— $— 
Amortization of prior year service credit1 — — — — — — — 
Amortization of prior year actuarial losses(15)— (2)— 3 — — — 
Net amount recognized in accumulated other comprehensive income$6 $— $(1)$— $2 $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Net Amount Recognized
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $8,321 $1,923 $2,608 $1,170 $1,424 $481 $693 $292 
Service cost157 49 46 26 20 4 8 5 
Interest cost269 62 85 38 46 15 22 9 
Actuarial loss433 83 144 50 93 21 46 14 
Transfers— 8 (8)(8)— 15 — — 
Benefits paid(541)(137)(160)(83)(76)(34)(49)(27)
Benefits paid – settlements(5)— — — — — (5)— 
Obligation at measurement date$8,634 $1,988 $2,715 $1,193 $1,507 $502 $715 $293 
Accumulated Benefit Obligation at measurement date$8,577 $1,989 $2,684 $1,194 $1,476 $493 $709 $294 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$8,910 $2,263 $2,898 $1,364 $1,515 $443 $667 $335 
Actual return on plan assets973 247 319 149 166 48 71 35 
Benefits paid(541)(137)(160)(83)(76)(34)(49)(27)
Benefits paid – settlements(5)— — — — — (5)— 
Transfers— 8 (8)(8)— 15 — — 
Plan assets at measurement date$9,337 $2,381 $3,049 $1,422 $1,605 $472 $684 $343 
Funded status of plan$703 $393 $334 $229 $98 $(30)$(31)$50 
Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $7,869 $1,954 $2,433 $1,125 $1,295 $435 $618 $264 
Service cost150 47 43 25 18 4 8 5 
Interest cost317 75 100 45 54 18 26 10 
Actuarial loss716 101 223 87 135 54 87 33 
Transfers— 11 — — — — — — 
Benefits paid(731)(265)(191)(112)(78)(30)(46)(20)
Obligation at measurement date$8,321 $1,923 $2,608 $1,170 $1,424 $481 $693 $292 
Accumulated Benefit Obligation at measurement date$8,262 $1,923 $2,578 $1,170 $1,392 $471 $686 $292 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$8,233 $2,168 $2,606 $1,268 $1,322 $405 $611 $305 
Employer contributions77 7 57 4 53 2 2 1 
Actual return on plan assets1,331 342 426 204 218 66 100 49 
Benefits paid(731)(265)(191)(112)(78)(30)(46)(20)
Transfers— 11 — — — — — — 
Plan assets at measurement date$8,910 $2,263 $2,898 $1,364 $1,515 $443 $667 $335 
Funded status of plan$589 $340 $290 $194 $91 $(38)$(26)$43 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$780 $393 $379 $229 $143 $58 $79 $50 
Noncurrent pension liability(b)
$77 $— $45 $— $45 $88 $110 $— 
Net asset (liability) recognized$703 $393 $334 $229 $98 $(30)$(31)$50 
Regulatory assets$1,910 $381 $691 $283 $408 $110 $209 $80 
Accumulated other comprehensive (income) loss 
Deferred income tax benefit$(21)$— $— $— $— $— $— $— 
Prior service credit(2)— — — — — — — 
Net actuarial loss100 — 2 — — — — — 
Net amounts recognized in accumulated other comprehensive loss$77 $— $2 $— $— $— $— $— 
December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$621 $340 $322 $194 $123 $38 $57 $43 
Noncurrent pension liability(b)
$32 $— $32 $— $32 $76 $83 $— 
Net asset recognized$589 $340 $290 $194 $91 $(38)$(26)$43 
Regulatory assets$1,972 $420 $717 $313 $404 $112 $204 $81 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$(23)$— $(1)$— $(1)$— $— $— 
Prior service credit(3)— — — — — — — 
Net actuarial loss111 — 3 — 3 — — — 
Net amounts recognized in accumulated other comprehensive loss$85 $— $2 $— $2 $— $— $— 
Amounts to be recognized in net periodic pension costs in the next year
Unrecognized net actuarial loss$135 $29 $43 $19 $24 $7 $10 $9 
Unrecognized prior service credit(32)(8)(3)(2)(1)(1)(2)(9)
(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
December 31, 2020
DukeDukeDuke
DukeProgressEnergyEnergyEnergy
(in millions)EnergyEnergyFloridaOhioIndiana
Projected benefit obligation$4,914 $828 $828 $184 $293 
Accumulated benefit obligation4,856 796 796 176 285 
Fair value of plan assets4,837 783 783 96 183 
December 31, 2019
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$155 $260 
Accumulated benefit obligation146 252 
Fair value of plan assets79 177 
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions or range of assumptions used for pension benefit accounting.
December 31,
202020192018
Benefit Obligations
Discount rate2.60%3.30%4.30%
Interest crediting rate4.00%4.00%4.00%
Salary increase 3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Net Periodic Benefit Cost
Discount rate3.30%4.30%3.60%
Interest crediting rate4.00%4.00%4.00%
Salary increase3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Expected long-term rate of return on plan assets6.85%6.85%6.50%
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2021$667 $169 $177 $94 $82 $40 $53 $29 
2022650 170 176 92 83 39 51 25 
2023655 174 181 95 85 38 49 22 
2024644 168 184 96 87 37 49 21 
2025617 163 181 93 88 35 47 19 
2025-20292,745 677 846 399 443 154 217 83 
Other Post-Retirement Benefit Plans  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Other Post-Retirement Benefit Costs
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$4 $1 $1 $— $— $— $1 $— 
Interest cost on accumulated post-retirement benefit obligation23 5 10 5 4 1 2 1 
Expected return on plan assets(13)(8)— — — — — (2)
Amortization of actuarial loss2 — 1 — 1 — 4 — 
Amortization of prior service credit(14)(4)(3)(1)(2)(1)(1)(2)
Net periodic post-retirement benefit costs (a)(b)
$2 $(6)$9 $4 $3 $— $6 $(3)
Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$4 $1 $1 $— $1 $— $1 $— 
Interest cost on accumulated post-retirement benefit obligation30 7 12 7 5 1 3 1 
Expected return on plan assets(12)(7)— — — — — (1)
Amortization of actuarial loss4 2 1 — 1 — 4 — 
Amortization of prior service credit(19)(5)(8)(1)(7)(1)(1)(2)
Net periodic post-retirement benefit costs(a)(b)
$7 $(2)$6 $6 $— $— $7 $(2)
Year Ended December 31, 2018
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$6 $1 $1 $— $1 $1 $1 $1 
Interest cost on accumulated post-retirement benefit obligation28 7 12 6 6 1 3 1 
Expected return on plan assets(13)(8)— — — — — (2)
Amortization of actuarial loss6 3 1 1 — — 4 — 
Amortization of prior service credit(19)(5)(8)(1)(7)(1)(1)(2)
Net periodic post-retirement benefit costs(a)(b)
$8 $(2)$6 $6 $— $1 $7 $(2)
(a)    Duke Energy amounts exclude $6 million, $6 million and $7 million for the years ended December 2020, 2019 and 2018, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $2 million and $2 million for the years ended December 2020, 2019 and 2018, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)$9 $— $9 $6 $3 $— $(4)$— 
Regulatory liabilities, net increase (decrease)$(10)$(7)$— $— $— $— $(1)$— 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$— $— $— $— $— $— $— $— 
Amortization of prior year service credit1 — — — — — — — 
Net amount recognized in accumulated other comprehensive income$1 $— $— $— $— $— $— $— 
Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)$(127)$— $(127)$(82)$(45)$— $(5)$— 
Regulatory liabilities, net increase (decrease)$(152)$1 $(149)$(93)$(56)$(1)$(4)$3 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$— $— $— $— $— $— $— $— 
Amortization of prior year actuarial gain(4)— — — — — — — 
Net amount recognized in accumulated other comprehensive income$(4)$— $— $— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$723 $175 $303 $168 $135 $29 $64 $30 
Service cost4 1 1 — — — 1 — 
Interest cost23 5 10 5 4 1 2 1 
Plan participants' contributions15 3 5 3 2 1 2 — 
Actuarial losses19 8 8 5 2 — 1 1 
Benefits paid(75)(18)(28)(15)(13)(4)(9)(2)
Accumulated post-retirement benefit obligation at measurement date$709 $174 $299 $166 $130 $27 $61 $30 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$220 $130 $(1)$(1)$— $9 $5 $34 
Actual return on plan assets24 14 — — — — 1 4 
Benefits paid(75)(18)(28)(15)(13)(4)(9)(2)
Employer contributions53 10 23 11 10 3 8 1 
Plan participants' contributions15 3 5 3 2 1 2 — 
Plan assets at measurement date$237 $139 $(1)$(2)$(1)$9 $7 $37 
Funded status of plan$(472)$(35)$(300)$(168)$(131)$(18)$(54)$7 
Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$728 $174 $303 $166 $137 $29 $67 $30 
Service cost4 1 1 — 1 — 1 — 
Interest cost30 7 12 7 5 1 3 1 
Plan participants' contributions16 3 6 3 2 1 2 — 
Actuarial losses28 9 13 9 5 1 2 — 
Benefits paid(83)(19)(32)(17)(15)(3)(11)(1)
Accumulated post-retirement benefit obligation at measurement date$723 $175 $303 $168 $135 $29 $64 $30 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$195 $115 $— $— $— $8 $5 $29 
Actual return on plan assets32 20 (1)— — 1 — 6 
Benefits paid(83)(19)(32)(17)(15)(3)(11)(1)
Employer contributions60 11 26 13 13 2 9 — 
Plan participants' contributions16 3 6 3 2 1 2 — 
Plan assets at measurement date$220 $130 $(1)$(1)$— $9 $5 $34 
Funded status of plan$(503)$(45)$(304)$(169)$(135)$(20)$(59)$4 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$8 $— $— $— $— $1 $— $7 
Current post-retirement liability(a)
9 — 6 4 2 2 — — 
Noncurrent post-retirement liability(b)
471 35 294 164 129 17 54 — 
Net liability (asset) recognized$472 $35 $300 $168 $131 $18 $54 $(7)
Regulatory assets$144 $— $144 $88 $56 $— $32 $— 
Regulatory liabilities$139 $32 $— $— $— $17 $62 $3 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial gain(13)— — — — — — — 
Net amounts recognized in accumulated other comprehensive income$(11)$— $— $— $— $— $— $— 
December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current post-retirement liability(a)
$9 $— $5 $3 $2 $1 $— $— 
Noncurrent post-retirement liability(b)
494 45 299 163 133 19 59 (4)
Total accrued post-retirement liability$503 $45 $304 $166 $135 $20 $59 $(4)
Regulatory assets$135 $— $135 $82 $53 $— $36 $— 
Regulatory liabilities$149 $39 $— $— $— $17 $63 $3 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Prior service credit(2)— — — — — — — 
Net actuarial gain(13)— — — — — — — 
Net amounts recognized in accumulated other comprehensive income$(12)$— $— $— $— $— $— $— 
Amounts to be recognized in net periodic pension expense in the next year
Unrecognized net actuarial loss$5 $3 $1 $— $1 $— $— $— 
Unrecognized prior service credit(14)(4)(3)(1)(2)(1)(1)(2)
(a)    Included in Other within Current Liabilities on the Consolidated Balance Sheets. 
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions used for other post-retirement benefits accounting.
December 31,
202020192018
Benefit Obligations
Discount rate2.60 %3.30 %4.30 %
Net Periodic Benefit Cost
Discount rate3.30 %4.30 %3.60 %
Expected long-term rate of return on plan assets6.85 %6.85 %6.50 %
Assumed tax rate23 %23 %35 %
Assumed Health Care Cost Trend Rate
Assumed Health Care Cost Trend Rate
December 31,
20202019
Health care cost trend rate assumed for next year6.25 %6.00 %
Rate to which the cost trend is assumed to decline (the ultimate trend rate)4.75 %4.75 %
Year that rate reaches ultimate trend20282026
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2021$73 $17 $28 $15 $12 $3 $8 $2 
202266 16 26 14 12 3 7 2 
202362 15 25 14 11 3 6 2 
202458 14 24 13 11 2 6 2 
202554 13 22 12 10 2 5 2 
2026-2030223 54 94 52 41 9 21 11