Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

GOODWILL

Duke Energy

Duke Energy's Goodwill balance of $19.3 billion is allocated $17.4 billion to EU&I and $1.9 billion to GU&I on Duke Energy's Consolidated Balance Sheets at December 31, 2022, and 2021. There are no accumulated impairment charges.

Duke Energy Ohio

Duke Energy Ohio's Goodwill balance of $920 million, allocated $596 million to EU&I and $324 million to GU&I, is presented net of accumulated impairment charges of $216 million on the Consolidated Balance Sheets at December 31, 2022, and 2021.

Progress Energy

Progress Energy's Goodwill is included in the EU&I segment and there are no accumulated impairment charges.

Piedmont

Piedmont's Goodwill is included in the GU&I segment and there are no accumulated impairment charges.

Goodwill Impairment Testing

Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont are required to perform an annual goodwill impairment test as of the same date each year and, accordingly, perform their annual impairment testing of goodwill as of August 31. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont update their test between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. As the fair value for Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont exceeded their respective carrying values at the date of the annual impairment analysis, no goodwill impairment charges were recorded in 2022.

INTANGIBLE ASSETS

The following tables show the carrying amount and accumulated amortization of intangible assets included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2022, and 2021.

	December 31, 2022
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Emission allowances	$	8	$	—	$	5	$	2	$	3	$	—	$	2	$	—
Renewable energy certificates	210		84		124		124		—		2		—		—
Other	55		—		4		1		3		—		—		22
Total gross carrying amounts	273		84		133		127		6		2		2		22
Accumulated amortization – other	(8)		—		(1)		—		(1)		—		—		(2)
Total accumulated amortization	(8)		—		(1)		—		(1)		—		—		(2)
Total intangible assets, net	$	265	$	84	$	132	$	127	$	5	$	2	$	2	$	20

	December 31, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Emission allowances	$	8	$	—	$	5	$	2	$	3	$	—	$	2	$	—
Renewable energy certificates	204		73		131		131		—		—		—		—
Natural gas, coal and power contracts	24		—		—		—		—		—		24		—
Other	28		—		—		—		—		—		—		—
Total gross carrying amounts	264		73		136		133		3		—		26		—
Accumulated amortization – natural gas, coal and power contracts	(24)		—		—		—		—		—		(24)		—
Accumulated amortization – other	(4)		—		—		—		—		—		—		—
Total accumulated amortization	(28)		—		—		—		—		—		(24)		—
Total intangible assets, net	$	236	$	73	$	136	$	133	$	3	$	—	$	2	$	—

Amortization Expense

Amortization expense amounts for other intangible assets are immaterial for the years ended December 31, 2022, 2021 and 2020, and are expected to be immaterial for the next five years as of December 31, 2022.