Debt and Credit Facilities

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Debt And Credit Facilities

DEBT AND CREDIT FACILITIES

SUMMARY OF SIGNIFICANT DEBT ISSUANCES

The following table summarizes significant debt issuances (in millions).

				Three Months Ended March 31, 2022
						Duke		Duke
	Maturity	Interest		Duke		Energy		Energy
Issuance Date	Date	Rate		Energy		Carolinas		Progress
First Mortgage Bonds
March 2022(a)	March 2032	2.850	%	$	500	$	500	$	—
March 2022(a)	March 2052	3.550	%	650		650		—
March 2022(a)	April 2032	3.400	%	500		—		500
March 2022(a)	April 2052	4.000	%	400		—		400
Total issuances				$	2,050	$	1,150	$	900

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

CURRENT MATURITIES OF LONG-TERM DEBT

The following table shows the significant components of Current maturities of long-term debt on the Condensed 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		March 31, 2022
Unsecured Debt
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 Carolinas	May 2022	3.350	%	350
Duke Energy Progress	May 2022	2.800	%	500
Duke Energy Carolinas	March 2023	2.500	%	500
Duke Energy Carolinas	March 2023	3.050	%	500
Other(a)				584
Current maturities of long-term debt				$	3,884

(a)Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.

AVAILABLE CREDIT FACILITIES

Master Credit Facility

In March 2022, Duke Energy amended its existing Master Credit Facility to increase the amount of the facility from $8 billion to $9 billion and to extend the termination date to March 2027. The Duke Energy Registrants, excluding Progress Energy, have borrowing capacity under the Master Credit Facility up to a specified sublimit for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder.

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

	March 31, 2022
			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)	$	9,000	$	3,300	$	1,225	$	1,400	$	900	$	775	$	600	$	800
Reduction to backstop issuances
Commercial paper(b)	(2,819)		(1,715)		(300)		(150)		(236)		(86)		(150)		(182)
Outstanding letters of credit	(38)		(25)		(4)		(2)		(7)		—		—		—
Tax-exempt bonds	(81)		—		—		—		—		—		(81)		—
Available capacity under the Master Credit Facility	$	6,062	$	1,560	$	921	$	1,248	$	657	$	689	$	369	$	618

(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 on the Condensed Consolidated Balance Sheets.

Other Credit Facilities

Duke Energy (Parent) Term Loan Facility

On March 9, 2022, Duke Energy (Parent) entered into a Term Loan Credit Agreement (Credit Agreement) with commitments totaling $1.4 billion maturing March 9, 2024. The maturity date of the Credit Agreement may be extended for up to two years by request of Duke Energy (Parent), upon satisfaction of certain conditions contained in the Credit Agreement. Borrowings under the facility were used to repay amounts drawn under the Three-Year Revolving Credit Facility and for general corporate purposes, including repayment of a portion of Duke Energy's outstanding commercial paper. The balance is classified as Long-Term Debt on Duke Energy's Condensed Consolidated Balance Sheets. The Three-Year Revolving Credit Facility was terminated in March 2022.

Intercompany Credit Agreements

In March 2022, Progress Energy closed a revolving credit agreement with Duke Energy (Parent), which allowed up to $2.5 billion in intercompany borrowings.