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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2022
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, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$134 $134 $— $— $— 
NDTF equity securities5,751 5,704 — — 47 
NDTF debt securities2,694 849 1,845 — — 
Other equity securities124 124 — — — 
Other debt securities274 44 230 — — 
Other cash and cash equivalents51 51 — — — 
Derivative assets1,336 2 1,245 89 — 
Total assets10,364 6,908 3,320 89 47 
Derivative liabilities(593)(21)(327)(245)— 
Net assets (liabilities)$9,771 $6,887 $2,993 $(156)$47 
December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$160 $160 $— $— $— 
NDTF equity securities7,350 7,300 — — 50 
NDTF debt securities2,891 967 1,924 — — 
Other equity securities156 156 — — — 
Other debt securities300 45 255 — — 
Other cash and cash equivalents36 36 — — — 
Derivative assets320 3 293 24 — 
Total assets11,213 8,667 2,472 24 50 
Derivative liabilities(472)(13)(314)(145)— 
Net assets (liabilities)$10,741 $8,654 $2,158 $(121)$50 
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs
The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
Three Months Ended June 30,Six Months Ended June 30,
(in millions) 2022202120222021
Balance at beginning of period$(199)$(126)$(121)$(77)
Total pretax realized or unrealized losses included in comprehensive income(42)(31)(110)(75)
Purchases, sales, issuances and settlements:
Purchases77 21 77 21 
Settlements21 (1)18 (8)
Total (losses) gains included on the Condensed Consolidated Balance Sheet(13)6 (20)8 
Balance at end of period$(156)$(131)$(156)$(131)
Quantitative Information Table - Level 3
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
June 30, 2022
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy      
Electricity contracts$(245)RTO forward pricingForward electricity curves – price per MWh$23.35 -$243.21 $53.28 
Duke Energy Ohio 
FTRs5 RTO auction pricingFTR price – per MWh(0.29)-2.30 0.89 
Duke Energy Indiana 
FTRs84 RTO auction pricingFTR price – per MWh(0.61)-24.34 3.69 
Duke Energy
Total Level 3 derivatives$(156)
December 31, 2021
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy      
Electricity contracts$(145)RTO forward pricingForward electricity curves – price per MWh$19.04 -$139.11$37.57
Duke Energy Ohio   
FTRs2 RTO auction pricingFTR price – per MWh0.06 -1.79 0.96 
Duke Energy Indiana   
FTRs22 RTO auction pricingFTR price – per MWh(1.18)-13.11 2.68 
Duke Energy
Total Level 3 derivatives$(121)
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, 2022December 31, 2021
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$66,318 $61,451 $63,835 $69,683 
Duke Energy Carolinas14,162 13,501 13,275 15,101 
Progress Energy20,751 19,830 20,823 23,751 
Duke Energy Progress10,662 9,829 10,249 11,252 
Duke Energy Florida8,447 8,150 8,482 9,772 
Duke Energy Ohio3,243 3,071 3,193 3,570 
Duke Energy Indiana4,337 4,168 4,323 5,067 
Piedmont3,363 3,086 2,968 3,278 
(a)Book value of long-term debt includes $1.21 billion and $1.25 billion at June 30, 2022, and December 31, 2021, respectively, 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, 2022
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$58 $58 $— $— 
NDTF equity securities3,327 3,280 — 47 
NDTF debt securities1,343 304 1,039 — 
Derivative assets484 — 484 — 
Total assets5,212 3,642 1,523 47 
Derivative liabilities(41)— (41)— 
Net assets$5,171 $3,642 $1,482 $47 
December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$53 $53 $— $— 
NDTF equity securities4,265 4,215 — 50 
NDTF debt securities1,441 339 1,102 — 
Derivative assets162 — 162 — 
Total assets5,921 4,607 1,264 50 
Derivative liabilities(35)— (35)— 
Net assets$5,886 $4,607 $1,229 $50 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$76 $76 $— $107 $107 $— 
NDTF equity securities2,424 2,424 — 3,085 3,085 — 
NDTF debt securities1,351 545 806 1,450 628 822 
Other debt securities25 — 25 26 — 26 
Other cash and cash equivalents15 15 — 20 20 — 
Derivative assets368 — 368 124 — 124 
Total assets4,259 3,060 1,199 4,812 3,840 972 
Derivative liabilities(43)— (43)(24)— (24)
Net assets$4,216 $3,060 $1,156 $4,788 $3,840 $948 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$46 $46 $— $94 $94 $— 
NDTF equity securities2,333 2,333 — 2,970 2,970 — 
NDTF debt securities994 253 741 1,025 289 736 
Other cash and cash equivalents12 12 — 16 16 — 
Derivative assets368 — 368 124 — 124 
Total assets3,753 2,644 1,109 4,229 3,369 860 
Derivative liabilities(11)— (11)(10)— (10)
Net assets$3,742 $2,644 $1,098 $4,219 $3,369 $850 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$30 $30 $— $13 $13 $— 
NDTF equity securities91 91 — 115 115 — 
NDTF debt securities357 292 65 425 339 86 
Other debt securities25 — 25 26 — 26 
Other cash and cash equivalents1 1 — 3 3 — 
Total assets504 414 90 582 470 112 
Derivative liabilities(33)— (33)(14)— (14)
Net assets$471 $414 $57 $568 $470 $98 
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, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$77 $77 $— $— $97 $97 $— $— 
Other debt securities61 — 61 — 64 — 64 — 
Derivative assets141 2 55 84 23 1 — 22 
Total assets279 79 116 84 184 98 64 22 
Derivative liabilities(21)(21)— — (27)(13)(14)— 
Net assets$258 $58 $116 $84 $157 $85 $50 $22 
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)2022202120222021
Balance at beginning of period$10 $2 $22 $6 
Purchases, sales, issuances and settlements:
Purchases74 18 74 18 
Settlements16 (3)10 (9)
Total (losses) gains included on the Condensed Consolidated Balance Sheet(16)5 (22)7 
Balance at end of period$84 $22 $84 $22 
Piedmont  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts For Assets And Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2022December 31, 2021
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$— $— $— $3 $3 $— 
Derivative liabilities(193)— (193)(139)— (139)
Net (liabilities) assets$(193)$— $(193)$(136)$3 $(139)