XML 60 R3.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Revenues      
Regulated electric $ 22,319 $ 21,461 $ 22,615
Regulated natural gas 2,008 1,642 1,759
Nonregulated electric and other 770 765 705
Total operating revenues 25,097 23,868 25,079
Operating Expenses      
Operation, maintenance and other 6,042 5,788 6,066
Depreciation and amortization 4,990 4,705 4,548
Property and other taxes 1,389 1,337 1,307
Impairment of assets and other charges 356 984 (8)
Total operating expenses 19,737 19,325 19,366
Gains (Losses) on Sales of Other Assets and Other, net 13 10 (4)
Operating Income 5,373 4,553 5,709
Other Income and Expenses      
Equity in earnings (losses) of unconsolidated affiliates 28 (2,005) 162
Other income and expenses, net 643 453 430
Total other income and expenses 671 (1,552) 592
Interest Expense 2,280 2,162 2,204
Income From Continuing Operations Before Income Taxes 3,764 839 4,097
Income Tax Expense (Benefit) From Continuing Operations 192 (236) 519
Income From Continuing Operations 3,572 1,075 3,578
Income (Loss) From Discontinued Operations, net of tax 7 7 (7)
Net Income 3,579 1,082 3,571
Add: Net Loss Attributable to Noncontrolling Interests 329 295 177
Net Income Attributable to Parent 3,908 1,377 3,748
Less: Preferred Dividends 106 107 41
Net Income Available to Common Stockholders 3,802 1,270 3,707
Other Comprehensive Income, net of tax      
Pension and OPEB adjustments [1] 7 6 9
Net unrealized gain on cash flow hedges [1] (68) (138) (47)
Unrealized (losses) gains on available-for-sale securities [1] (8) 3 8
Other Comprehensive Loss, net of tax [1] (56) (118) (24)
Comprehensive Income 3,523 964 3,547
Add: Comprehensive Loss Attributable to Noncontrolling Interests (319) (306) (177)
Comprehensive Income Attributable to Duke Energy Corporation $ 3,842 $ 1,270 $ 3,724
Income from continuing operations available to Duke Energy Corporation common stockholders      
Basic (usd per share) $ 4.93 $ 1.71 $ 5.07
Diluted (usd per share) 4.93 1.71 5.07
Income (Loss) from discontinued operations attributable to Duke Energy Corporation common stockholders      
Basic (usd per share) 0.01 0.01 (0.01)
Diluted (usd per share) 0.01 0.01 (0.01)
Net income available to Duke Energy Corporation common stockholders      
Basic (usd per share) 4.94 1.72 5.06
Diluted (usd per share) $ 4.94 $ 1.72 $ 5.06
Weighted average shares outstanding      
Basic (in shares) 769 737 729
Diluted (in shares) 769 738 729
Fuel used in electric generation and purchased power      
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas $ 6,255 $ 6,051 $ 6,826
Cost of natural gas      
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 705 460 627
Duke Energy Carolinas      
Operating Revenues      
Total operating revenues 7,102 7,015 7,395
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 1,601 1,682 1,804
Operation, maintenance and other 1,833 1,743 1,868
Depreciation and amortization 1,468 1,462 1,388
Property and other taxes 320 299 292
Impairment of assets and other charges 227 476 17
Total operating expenses 5,449 5,662 5,369
Gains (Losses) on Sales of Other Assets and Other, net 2 1  
Operating Income 1,655 1,354 2,026
Other Income and Expenses      
Other income and expenses, net 270 177 151
Total other income and expenses 270 177 151
Interest Expense 538 487 463
Income From Continuing Operations Before Income Taxes 1,387 1,044 1,714
Income Tax Expense (Benefit) From Continuing Operations 51 88 311
Net Income Attributable to Parent 1,336 956 1,403
Other Comprehensive Income, net of tax      
Net unrealized gain on cash flow hedges 1    
Other Comprehensive Loss, net of tax 1    
Comprehensive Income Attributable to Duke Energy Corporation 1,337 956 1,403
Progress Energy      
Operating Revenues      
Total operating revenues 11,057 10,627 11,202
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 3,584 3,479 4,024
Operation, maintenance and other 2,529 2,479 2,495
Depreciation and amortization 1,929 1,818 1,845
Property and other taxes 542 545 561
Impairment of assets and other charges 82 495 (24)
Total operating expenses 8,666 8,816 8,901
Gains (Losses) on Sales of Other Assets and Other, net 14 9  
Operating Income 2,405 1,820 2,301
Other Income and Expenses      
Other income and expenses, net 215 129 141
Total other income and expenses 215 129 141
Interest Expense 794 790 862
Income Before Income Taxes 1,826 1,159 1,580
Income Tax Expense (Benefit) From Continuing Operations 227 113 253
Net Income 1,599 1,046 1,327
Add: Net Loss Attributable to Noncontrolling Interests (1) (1)  
Net Income Attributable to Parent 1,598 1,045 1,327
Other Comprehensive Income, net of tax      
Pension and OPEB adjustments 1 (1) 2
Net unrealized gain on cash flow hedges 3 5 5
Unrealized (losses) gains on available-for-sale securities   (1) 1
Other Comprehensive Loss, net of tax 4 3 8
Comprehensive Income 1,603 1,049 1,335
Add: Comprehensive Loss Attributable to Noncontrolling Interests 1 1  
Comprehensive Income Attributable to Duke Energy Corporation 1,602 1,048 1,335
Duke Energy Progress      
Operating Revenues      
Total operating revenues 5,780 5,422 5,957
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 1,778 1,743 2,012
Operation, maintenance and other 1,467 1,332 1,446
Depreciation and amortization 1,097 1,116 1,143
Property and other taxes 159 167 176
Impairment of assets and other charges 63 499 12
Total operating expenses 4,564 4,857 4,789
Gains (Losses) on Sales of Other Assets and Other, net 13 8  
Operating Income 1,229 573 1,168
Other Income and Expenses      
Other income and expenses, net 143 75 100
Total other income and expenses 143 75 100
Interest Expense 306 269 306
Income From Continuing Operations Before Income Taxes 1,066 379 962
Income Tax Expense (Benefit) From Continuing Operations 75 (36) 157
Net Income Attributable to Parent 991 415 805
Other Comprehensive Income, net of tax      
Comprehensive Income Attributable to Duke Energy Corporation 991 415 805
Duke Energy Florida      
Operating Revenues      
Total operating revenues 5,259 5,188 5,231
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 1,806 1,737 2,012
Operation, maintenance and other 1,048 1,131 1,034
Depreciation and amortization 831 702 702
Property and other taxes 383 381 392
Impairment of assets and other charges 19 (4) (36)
Total operating expenses 4,087 3,947 4,104
Gains (Losses) on Sales of Other Assets and Other, net 1 1  
Operating Income 1,173 1,242 1,127
Other Income and Expenses      
Other income and expenses, net 71 53 48
Total other income and expenses 71 53 48
Interest Expense 319 326 328
Income From Continuing Operations Before Income Taxes 925 969 847
Income Tax Expense (Benefit) From Continuing Operations 187 198 155
Net Income Attributable to Parent 738 771 692
Other Comprehensive Income, net of tax      
Unrealized (losses) gains on available-for-sale securities (1) (1) 1
Other Comprehensive Loss, net of tax (1) (1) 1
Comprehensive Income Attributable to Duke Energy Corporation 737 770 693
Duke Energy Ohio      
Operating Revenues      
Regulated electric 1,493 1,405 1,456
Regulated natural gas 544 453 484
Total operating revenues 2,037 1,858 1,940
Operating Expenses      
Operation, maintenance and other 479 463 520
Depreciation and amortization 307 278 265
Property and other taxes 355 324 308
Impairment of assets and other charges 25    
Total operating expenses 1,711 1,477 1,576
Gains (Losses) on Sales of Other Assets and Other, net 1    
Operating Income 327 381 364
Other Income and Expenses      
Other income and expenses, net 18 16 24
Total other income and expenses 18 16 24
Interest Expense 111 102 109
Income From Continuing Operations Before Income Taxes 234 295 279
Income Tax Expense (Benefit) From Continuing Operations 30 43 40
Income From Continuing Operations 204 252 239
Income (Loss) From Discontinued Operations, net of tax     (1)
Net Income Attributable to Parent 204 252 238
Other Comprehensive Income, net of tax      
Comprehensive Income Attributable to Duke Energy Corporation 204 252 238
Duke Energy Ohio | Fuel used in electric generation and purchased power      
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 409 339 388
Duke Energy Ohio | Cost of natural gas      
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 136 73 95
Duke Energy Indiana      
Operating Revenues      
Total operating revenues 3,174 2,795 3,004
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 985 767 935
Operation, maintenance and other 750 762 790
Depreciation and amortization 615 569 525
Property and other taxes 73 81 69
Impairment of assets and other charges 9    
Total operating expenses 2,432 2,179 2,319
Operating Income 742 616 685
Other Income and Expenses      
Other income and expenses, net 42 37 41
Total other income and expenses 42 37 41
Interest Expense 196 161 156
Income From Continuing Operations Before Income Taxes 588 492 570
Income Tax Expense (Benefit) From Continuing Operations 107 84 134
Net Income Attributable to Parent 481 408 436
Other Comprehensive Income, net of tax      
Comprehensive Income Attributable to Duke Energy Corporation 481 408 436
Piedmont      
Operating Revenues      
Regulated natural gas 1,555 1,286 1,369
Nonregulated electric and other 14 11 12
Total operating revenues 1,569 1,297 1,381
Operating Expenses      
Fuel used in electric generation and purchased power/Cost of natural gas 569 386 532
Operation, maintenance and other 327 322 328
Depreciation and amortization 213 180 172
Property and other taxes 55 53 45
Impairment of assets and other charges 10 7  
Total operating expenses 1,174 948 1,077
Operating Income 395 349 304
Other Income and Expenses      
Equity in earnings (losses) of unconsolidated affiliates 9 9 8
Other income and expenses, net 55 51 20
Total other income and expenses 64 60 28
Interest Expense 119 118 87
Income From Continuing Operations Before Income Taxes 340 291 245
Income Tax Expense (Benefit) From Continuing Operations 30 18 43
Net Income Attributable to Parent 310 273 202
Other Comprehensive Income, net of tax      
Comprehensive Income Attributable to Duke Energy Corporation $ 310 $ 273 $ 202
[1] Net of income tax impacts of approximately $17 million and $35 million for the years ended December 31, 2021, and 2020, respectively. Tax impacts are immaterial for other periods presented.