Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

The following tables summarize outstanding debt.

	December 31, 2021
	Weighted
	Average				Duke				Duke		Duke		Duke		Duke
	Interest		Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Rate		Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unsecured debt, maturing 2022-2082	3.71	%	$	24,564	$	1,150	$	2,250	$	—	$	150	$	1,330	$	700	$	2,990
Secured debt, maturing 2022-2052	2.50	%	5,584		1,094		2,397		1,120		1,278		—		—		—
First mortgage bonds, maturing 2022-2051(a)	3.87	%	31,026		10,507		15,450		8,375		7,075		1,850		3,219		—
Finance leases, maturing 2022-2051(b)	5.81	%	915		289		690		629		61		—		10		—
Tax-exempt bonds, maturing 2027-2041(c)	0.65	%	360		—		48		48		—		27		285		—
Notes payable and commercial paper(d)	0.35	%	3,929		—		—		—		—		—		—		—
Money pool/intercompany borrowings			—		526		2,959		322		199		128		150		518
Fair value hedge carrying value adjustment			4		4		—		—		—		—		—		—
Unamortized debt discount and premium, net(e)			1,119		(21)		(34)		(19)		(14)		(27)		(18)		(6)
Unamortized debt issuance costs(f)			(362)		(67)		(128)		(54)		(68)		(13)		(23)		(16)
Total debt	3.50	%	$	67,139	$	13,482	$	23,632	$	10,421	$	8,681	$	3,295	$	4,323	$	3,486
Short-term notes payable and commercial paper			(3,304)		—		—		—		—		—		—		—
Short-term money pool/intercompany borrowings			—		(226)		(2,809)		(172)		(199)		(103)		—		(518)
Current maturities of long-term debt(g)			(3,387)		(362)		(1,082)		(556)		(76)		—		(84)		—
Total long-term debt(g)			$	60,448	$	12,894	$	19,741	$	9,693	$	8,406	$	3,192	$	4,239	$	2,968

(a)Substantially all electric utility property is mortgaged under mortgage bond indentures.

(b)Duke Energy includes $256 million of finance lease purchase accounting adjustments related to Duke Energy Florida related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.

(c)Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.

(d)Includes $625 million classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper program was 15 days.

(e)Duke Energy includes $1,121 million and $100 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.

(f)Duke Energy includes $29 million in purchase accounting adjustments primarily related to the merger with Progress Energy.

(g)Refer to Note 17 for additional information on amounts from consolidated VIEs.

	December 31, 2020
	Weighted
	Average				Duke				Duke		Duke		Duke		Duke
	Interest		Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Rate		Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unsecured debt, maturing 2021-2078	3.71	%	$	23,669	$	1,150	$	3,150	$	700	$	350	$	1,180	$	403	$	2,800
Secured debt, maturing 2021-2052	2.67	%	4,270		543		1,584		252		1,332		—		—		—
First mortgage bonds, maturing 2021-2050(a)	4.00	%	29,177		10,008		14,100		7,875		6,225		1,850		3,219		—
Finance leases, maturing 2022-2051(b)	6.96	%	845		294		377		296		81		—		10		—
Tax-exempt bonds, maturing 2027-2041(c)	0.75	%	477		—		48		48		—		77		352		—
Notes payable and commercial paper(d)	0.51	%	3,407		—		—		—		—		—		—		—
Money pool/intercompany borrowings			—		806		3,119		445		196		194		281		530
Fair value hedge carrying value adjustment			4		4		—		—		—		—		—		—
Unamortized debt discount and premium, net(e)			1,217		(20)		(31)		(19)		(11)		(29)		(18)		(5)
Unamortized debt issuance costs(f)			(330)		(62)		(113)		(44)		(62)		(14)		(25)		(15)
Total debt	3.62	%	$	62,736	$	12,723	$	22,234	$	9,553	$	8,111	$	3,258	$	4,222	$	3,310
Short-term notes payable and commercial paper			(2,873)		—		—		—		—		—		—		—
Short-term money pool/intercompany borrowings			—		(506)		(2,969)		(295)		(196)		(169)		(131)		(530)
Current maturities of long-term debt(g)			(4,238)		(506)		(1,426)		(603)		(823)		(50)		(70)		(160)
Total long-term debt(g)			$	55,625	$	11,711	$	17,839	$	8,655	$	7,092	$	3,039	$	4,021	$	2,620

(a)    Substantially all electric utility property is mortgaged under mortgage bond indentures.

(b)    Duke Energy includes $24 million and $341 million of finance lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.

(c)    Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.

(d)    Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper programs was 23 days.

(e)    Duke Energy includes $1,196 million and $117 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.

(f)    Duke Energy includes $33 million in purchase accounting adjustments primarily related to the merger with Progress Energy.

(g)     Refer to Note 17 for additional information on amounts from consolidated VIEs.

The following table shows the significant components of Current maturities of Long-Term Debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.

(in millions)	Maturity Date	Interest Rate		December 31, 2021
Unsecured Debt(a)
Duke Energy (Parent)	March 2022	3.227	%	300
Duke Energy (Parent)(b)	March 2022	0.851	%	300
Progress Energy	April 2022	3.150	%	450
Duke Energy (Parent)	August 2022	3.050	%	500
Duke Energy (Parent)	August 2022	2.400	%	500
First Mortgage Bonds
Duke Energy Indiana	January 2022	8.850	%	53
Duke Energy Carolinas	May 2022	3.350	%	350
Duke Energy Progress	May 2022	2.800	%	500
Other(c)				434
Current maturities of long-term debt				$	3,387

(a)    In December 2021, Duke Energy Progress early retired $700 million of unsecured debt with an original maturity date of February 2022.

(b)    Debt has a floating interest rate.

(c)    Includes finance lease obligations, amortizing debt and small bullet maturities.

The following tables show short-term obligations classified as long-term debt.

	December 31, 2021
			Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Progress		Ohio		Indiana
Tax-exempt bonds	$	312	$	—	$	—	$	27	$	285
Commercial paper(a)	625		300		150		25		150
Total	$	937	$	300	$	150	$	52	$	435

	December 31, 2020
			Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Progress		Ohio		Indiana
Tax-exempt bonds	$	312	$	—	$	—	$	27	$	285
Commercial paper(a)	625		300		150		25		150
Total	$	937	$	300	$	150	$	52	$	435

(a)    Progress Energy amounts are equal to Duke Energy Progress amounts.

Schedule of Maturities of Long-term Debt

The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable, commercial paper and money pool borrowings and debt issuance costs for the Subsidiary Registrants.

	December 31, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy(a)		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
2022	$	3,387	$	362	$	1,082	$	556	$	76	$	—	$	84	$	—
2023	4,725		1,018		1,046		719		327		475		303		45
2024	1,917		19		138		72		66		—		4		40
2025	3,078		496		639		575		64		245		4		205
2026	3,125		921		310		229		81		70		154		40
Thereafter	46,844		10,528		17,766		8,168		7,949		2,442		3,814		2,660
Total long-term debt, including current maturities	$	63,076	$	13,344	$	20,981	$	10,319	$	8,563	$	3,232	$	4,363	$	2,990

(a)    Excludes $1,250 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition.

Schedule of Long-term Debt Instruments

The following tables summarize significant debt issuances (in millions).

				Year Ended December 31, 2021
						Duke		Duke		Duke		Duke
	Maturity	Interest		Duke		Energy		Energy		Energy		Energy
Issuance Date	Date	Rate		Energy		(Parent)		Carolinas		Progress		Florida		Piedmont
Unsecured Debt
March 2021a)	March 2031	2.500	%	$	350	$	—	$	—	$	—	$	—	$	350
June 2021(b)(c)	June 2023	0.299	%	500		500		—		—		—		—
June 2021(c)	June 2031	2.550	%	1,000		1,000		—		—		—		—
June 2021(c)	June 2041	3.300	%	750		750		—		—		—		—
June 2021(c)	June 2051	3.500	%	750		750		—		—		—		—
September 2021(d)	January 2082	3.250	%	500		500
Secured Debt
November 2021(e)	July 2031	1.679	%	100		—		100		—		—		—
November 2021(e)	July 2041	2.617	%	137		—		137		—		—		—
November 2021(e)	July 2028	1.295	%	221		—		—		221		—		—
November 2021(e)	July 2037	2.387	%	352		—		—		352		—		—
November 2021(e)	July 2041	2.799	%	197		—		—		197		—		—
First Mortgage Bonds
April 2021(f)	April 2031	2.550	%	550		—		550		—		—		—
April 2021(f)	April 2051	3.450	%	450		—		450		—		—		—
August 2021(g)	August 2031	2.000	%	650		—		—		650		—		—
August 2021(g)	August 2051	2.900	%	450		—		—		450		—		—
December 2021(h)	December 2031	2.400	%	650		—		—		—		650		—
December 2021(h)	December 2051	3.000	%	500		—		—		—		500		—
Total issuances				$	8,107	$	3,500	$	1,237	$	1,870	$	1,150	$	350

(a)Debt issued to repay at maturity $160 million senior unsecured notes due June 2021, pay down short-term debt and for general corporate purposes.

(b)Debt has a floating interest rate.

(c)Debt issued to repay $1.75 billion of Duke Energy (Parent) debt maturities, to repay a portion of short-term debt and for general corporate purposes.

(d)Debt issued to repay in October 2021 $500 million of Duke Energy (Parent) unsecured notes. The interest rate resets every five years.

(e)Debt issued to finance the North Carolina portion of storm restoration expenditures related to Hurricane Florence, Hurricane Michael, Hurricane Dorian and Winter Storm Diego.

(f)Debt issued to repay at maturity $500 million first mortgage bonds due June 2021, pay down short-term debt and for general company purposes.

(g)Debt issued to repay at maturity a total of $600 million first mortgage bonds due September 2021, pay down short-term debt and for general company purposes.

(h)Proceeds will be used to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework.

				Year Ended December 31, 2020
						Duke		Duke		Duke		Duke		Duke		Duke
	Maturity	Interest		Duke		Energy		Energy		Energy		Energy		Energy		Energy
Issuance Date	Date	Rate		Energy		(Parent)		Carolinas		Progress		Florida		Ohio		Indiana		Piedmont
Unsecured Debt
May 2020(a)	June 2030	2.450	%	$	500	$	500	$	—	$	—	$	—	$	—	$	—	$	—
May 2020(b)	June 2050	3.350	%	400		—		—		—		—		—		—		400
August 2020(c)(d)	February 2022	0.400	%	700		—		—		700		—		—		—		—
September 2020(e)	September 2025	0.900	%	650		650		—		—		—		—		—		—
September 2020(e)	June 2030	2.450	%	350		350		—		—		—		—		—		—
First Mortgage Bonds
January 2020(f)	February 2030	2.450	%	500		—		500		—		—		—		—		—
January 2020(f)	August 2049	3.200	%	400		—		400		—		—		—		—		—
March 2020(g)	April 2050	2.750	%	550		—		—		—		—		—		550		—
May 2020(b)	June 2030	2.125	%	400		—		—		—		—		400		—		—
June 2020(b)	June 2030	1.750	%	500		—		—		—		500		—		—		—
August 2020(h)	August 2050	2.500	%	600		—		—		600		—		—		—		—
Total issuances				$	5,550	$	1,500	$	900	$	1,300	$	500	$	400	$	550	$	400

(a)Debt issued to repay $500 million borrowing made under Duke Energy (Parent) revolving credit facility in March 2020, and for general corporate purposes.

(b)Debt issued to repay short-term debt and for general corporate purposes.

(c)Debt issued to repay $700 million term loan due December 2020.

(d)Debt issuance has a floating interest rate.

(e)Debt issued to repay a portion of outstanding commercial paper, to repay a portion of Duke Energy (Parent)'s outstanding $1.7 billion term loan due March 2021 and for general corporate purposes.

(f)Debt issued to repay at maturity $450 million first mortgage bonds due June 2020 and for general corporate purposes.

(g)Debt issued to repay at maturity $500 million first mortgage bonds due July 2020 and to pay down short-term debt.

(h)Debt issued to repay at maturity $300 million first mortgage bonds due September 2020 and for general corporate purposes.

Schedule Of Line Of Credit Facilities

The table below includes the current borrowing sublimits and available capacity under these credit facilities.

	December 31, 2021
			Duke		Duke		Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy		Energy		Energy
(in millions)	Energy		(Parent)		Carolinas		Progress		Florida		Ohio		Indiana		Piedmont
Facility size(a)	$	8,000	$	2,650	$	1,225	$	1,150	$	900	$	775	$	600	$	700
Reduction to backstop issuances
Commercial paper(b)	(2,863)		(1,128)		(506)		(307)		(181)		(119)		(150)		(472)
Outstanding letters of credit	(38)		(25)		(4)		(2)		(7)		—		—		—
Tax-exempt bonds	(81)		—		—		—		—		—		(81)		—
Available capacity	$	5,018	$	1,497	$	715	$	841	$	712	$	656	$	369	$	228

(a)    Represents the sublimit of each borrower.

(b)    Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets.