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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2021
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 Condensed Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 8. See Note 9 for additional information related to investments by major security type for the Duke Energy Registrants.
June 30, 2021
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$153 $153 $— $— $— 
NDTF equity securities6,743 6,695 — — 48 
NDTF debt securities3,012 1,066 1,946 — — 
Other equity securities166 166 — — — 
Other debt securities284 60 224 — — 
Other cash and cash equivalents83 83 — — — 
Derivative assets282 4 253 25 — 
Total assets10,723 8,227 2,423 25 48 
Derivative liabilities(423)— (267)(156)— 
Net assets (liabilities)$10,300 $8,227 $2,156 $(131)$48 
December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$177 $177 $— $— $— 
NDTF equity securities6,235 6,189 — — 46 
NDTF debt securities2,717 874 1,843 — — 
Other equity securities146 146 — — — 
Other debt securities285 37 248 — — 
Other cash and cash equivalents127 127 — — — 
Derivative assets61 1 53 7 — 
Total assets9,748 7,551 2,144 7 46 
Derivative liabilities(324)— (240)(84)— 
Net assets (liabilities)$9,424 $7,551 $1,904 $(77)$46 
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs
The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
Three Months Ended June 30,Six Months Ended June 30,
(in millions) 2021202020212020
Balance at beginning of period$(126)$(88)$(77)$(102)
Total pretax realized or unrealized losses included in comprehensive income(31)— (75)— 
Purchases, sales, issuances and settlements:
Purchases21 14 21 14 
Settlements(1)(6)(8)(15)
Total gains (losses) included on the Condensed Consolidated Balance Sheet6 (12)8 11 
Balance at end of period$(131)$(92)$(131)$(92)
Quantitative Information Table - Level 3
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
June 30, 2021
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy      
Electricity contracts$(156)RTO forward pricingForward electricity curves – price per MWh$16.82 -$174.84 $37.87 
Duke Energy Ohio 
FTRs3 RTO auction pricingFTR price – per MWh0 -1.65 0.88 
Duke Energy Indiana 
FTRs22 RTO auction pricingFTR price – per MWh(2.07)-7.38 1.12 
Duke Energy
Total Level 3 derivatives$(131)
December 31, 2020
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy      
Electricity contracts$(84)Discounted cash flowForward electricity curves – price per MWh$14.68 -$151.84$28.84
Duke Energy Ohio   
FTRs1 RTO auction pricingFTR price – per MWh0.25 -1.68 0.79 
Duke Energy Indiana    
FTRs6 RTO auction pricingFTR price – per MWh(2.40)-7.41 1.05 
Duke Energy
Total Level 3 derivatives$(77)
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.
June 30, 2021December 31, 2020
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$62,386 $69,222 $59,863 $69,292 
Duke Energy Carolinas12,906 15,011 12,218 14,917 
Progress Energy19,250 22,502 19,264 23,470 
Duke Energy Progress9,277 10,405 9,258 10,862 
Duke Energy Florida7,881 9,338 7,915 9,756 
Duke Energy Ohio3,091 3,531 3,089 3,650 
Duke Energy Indiana4,092 4,929 4,091 5,204 
Piedmont2,967 3,337 2,780 3,306 
(a)    Book value of long-term debt includes $1.3 billion at June 30, 2021, and December 31, 2020, of net unamortized debt discount and premium of 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 Condensed Consolidated Balance Sheets.
June 30, 2021
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$68 $68 $— $— 
NDTF equity securities3,910 3,862 — 48 
NDTF debt securities1,468 408 1,060 — 
Derivative assets107 — 107 — 
Total assets5,553 4,338 1,167 48 
Derivative liabilities(7)— (7)— 
Net assets$5,546 $4,338 $1,160 $48 
December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$30 $30 $— $— 
NDTF equity securities3,685 3,639 — 46 
NDTF debt securities1,250 192 1,058 — 
Derivative assets20 — 20 — 
Total assets4,985 3,861 1,078 46 
Derivative liabilities(20)— (20)— 
Net assets$4,965 $3,861 $1,058 $46 
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 tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$85 $85 $— $147 $147 $— 
NDTF equity securities2,833 2,833 — 2,550 2,550 — 
NDTF debt securities1,544 658 886 1,467 682 785 
Other debt securities27 — 27 26 — 26 
Other cash and cash equivalents4 4 — 106 106 — 
Derivative assets142 — 142 33 — 33 
Total assets4,635 3,580 1,055 4,329 3,485 844 
Derivative liabilities(17)— (17)(29)— (29)
Net assets$4,618 $3,580 $1,038 $4,300 $3,485 $815 
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 tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$73 $73 $— $76 $76 $— 
NDTF equity securities2,730 2,730 — 2,459 2,459 — 
NDTF debt securities1,061 269 792 993 237 756 
Other cash and cash equivalents1 1 — 1 1 — 
Derivative assets132 — 132 33 — 33 
Total assets3,997 3,073 924 3,562 2,773 789 
Derivative liabilities(4)— (4)(14)— (14)
Net assets$3,993 $3,073 $920 $3,548 $2,773 $775 
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 tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$12 $12 $— $71 $71 $— 
NDTF equity securities103 103 — 91 91 — 
NDTF debt securities483 389 94 474 445 29 
Other debt securities27 — 27 26 — 26 
Other cash and cash equivalents1 1 — 1 1 — 
Derivative assets10 — 10 — — — 
Total assets636 505 131 663 608 55 
Derivative liabilities(13)— (13)— — — 
Net assets$623 $505 $118 $663 $608 $55 
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 tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$110 $110 $— $— $97 $97 $— $— 
Other debt securities45 — 45 — 45 — 45 — 
Other cash and cash equivalents1 1 — — 1 1 — — 
Derivative assets24 2 — 22 6 — — 6 
Total assets180 113 45 22 149 98 45 6 
Derivative liabilities— — — — (1)(1)— — 
Net assets$180 $113 $45 $22 $148 $97 $45 $6 
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)
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2021202020212020
Balance at beginning of period$2 $2 $6 $11 
Purchases, sales, issuances and settlements:
Purchases18 10 18 10 
Settlements(3)(4)(9)(10)
Total gains (losses) included on the Condensed Consolidated Balance Sheet5 2 7 (1)
Balance at end of period$22 $10 $22 $10 
Piedmont  
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 Condensed Consolidated Balance Sheets.
June 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$2 $2 $— $1 $1 $— 
Derivative liabilities(161)— (161)(122)— (122)
Net (liabilities) assets$(159)$2 $(161)$(121)$1 $(122)
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2021202020212020
Balance at beginning of period$— $(91)$— $(117)
Total (losses) gains and settlements— (14)— 12 
Balance at end of period$— $(105)$— $(105)