Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The following tables summarize outstanding debt and includes debt attributable to the Commercial Renewables Disposal Groups. See Note 2 for further details.

	December 31, 2022
	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 2023-2082	4.20	%	$	29,585	$	1,150	$	2,600	$	—	$	950	$	1,330	$	697	$	3,390
Secured debt, maturing 2023-2052	4.11	%	5,632		1,317		2,383		1,155		1,228		—		—		—
First mortgage bonds, maturing 2023-2052(a)	3.89	%	32,645		11,306		16,350		8,776		7,576		1,850		3,138		—
Finance leases, maturing 2023-2051(b)	7.90	%	764		284		628		587		41		—		9		—
Tax-exempt bonds, maturing 2027-2046(c)	3.84	%	1,331		—		500		500		—		77		352		—
Notes payable and commercial paper(d)	4.50	%	4,582		—		—		—		—		—		—		—
Money pool/intercompany borrowings			—		1,533		993		389		605		522		585		514
Fair value hedge carrying value adjustment			(5)		—		—		—		—		—		—		—
Unamortized debt discount and premium, net(e)			1,016		(21)		(40)		(23)		(16)		(25)		(17)		(9)
Unamortized debt issuance costs(f)			(383)		(70)		(132)		(59)		(70)		(12)		(22)		(18)
Total debt	4.09	%	$	75,167	$	15,499	$	23,282	$	11,325	$	10,314	$	3,742	$	4,742	$	3,877
Short-term notes payable and commercial paper			(3,952)		—		—		—		—		—		—		—
Short-term money pool/intercompany borrowings			—		(1,233)		(843)		(238)		(605)		(497)		(435)		(514)
Current maturities of long-term debt(g)			(4,154)		(1,018)		(697)		(369)		(328)		(475)		(303)		(45)
Total long-term debt(g)			$	67,061	$	13,248	$	21,742	$	10,718	$	9,381	$	2,770	$	4,004	$	3,318

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

(b)Duke Energy includes $164 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 $1,057 million and $85 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.

(f)Duke Energy includes $27 million in purchase accounting adjustments primarily related to the merger with Progress Energy.

(g)Refer to Note 18 for additional information on amounts from consolidated VIEs.

	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 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 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 18 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, 2022
Unsecured Debt
Duke Energy (Parent)	April 2023	2.875	%	$	350
Duke Energy (Parent)(a)	June 2023	3.469	%	500
Duke Energy (Parent)	October 2023	3.950	%	400
Duke Energy Ohio(a)	October 2023	4.272	%	150
Duke Energy Indiana(a)	October 2023	4.118	%	300
First Mortgage Bonds
Duke Energy Carolinas	March 2023	2.500	%	500
Duke Energy Carolinas	March 2023	3.050	%	500
Duke Energy Progress	September 2023	3.375	%	300
Duke Energy Ohio	September 2023	3.800	%	300
Other(b)				854
Current maturities of long-term debt				$	4,154

(a)    Debt has a floating interest rate.

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

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

	December 31, 2022 and 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

(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, 2022
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy(a)		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
2023	$	4,154	$	1,018	$	697	$	369	$	328	$	475	$	303	$	45
2024	3,216		19		939		72		867		—		4		40
2025	4,322		491		1,040		975		65		245		4		205
2026	2,682		621		345		279		66		45		4		40
2027	3,203		323		947		233		714		102		177		300
Thereafter	52,999		11,884		18,642		9,238		7,753		2,415		3,853		2,760
Total long-term debt, including current maturities	$	70,576	$	14,356	$	22,610	$	11,166	$	9,793	$	3,282	$	4,345	$	3,390

(a)    Excludes $1,169 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, 2022
						Duke		Duke		Duke		Duke
	Maturity	Interest		Duke		Energy		Energy		Energy		Energy
Issuance Date	Date	Rate		Energy		(Parent)		Carolinas		Progress		Florida		Piedmont
Unsecured Debt
May 2022(a)	May 2052	5.050	%	$	400	$	—	$	—	$	—	$	—	$	400
June 2022(b)	June 2028	4.750	%	645		645		—		—		—		—
June 2022(b)	June 2034	5.306	%	537		537		—		—		—		—
August 2022(c)	March 2028	4.300	%	900		900		—		—		—		—
August 2022(c)	August 2032	4.500	%	1,150		1,150		—		—		—		—
August 2022(c)	August 2052	5.000	%	1,150		1,150		—		—				—
December 2022(d)	December 2025	5.000	%	500		500		—		—		—		—
December 2022(d)	December 2027	5.000	%	500		500		—		—		—		—
First Mortgage Bonds
March 2022(e)	March 2032	2.850	%	500		—		500		—		—		—
March 2022(e)	March 2052	3.550	%	650		—		650		—		—		—
March 2022(e)	April 2032	3.400	%	500		—		—		500		—		—
March 2022(e)	April 2052	4.000	%	400		—		—		400		—		—
November 2022(f)	November 2052	5.950	%	500		—		—		—		500		—
Tax-exempt Bonds
June 2022(g)	September 2030	4.000	%	168		168		—		—		—		—
June 2022(g)	November 2039	4.250	%	234		234		—		—		—		—
September 2022(h)	October 2046	3.300	%	200		—		—		200				—
September 2022(i)	October 2046	3.700	%	210		—		—		210				—
September 2022(i)	October 2046	4.000	%	42		—		—		42				—
Total issuances				$	9,186	$	5,784	$	1,150	$	1,352	$	500	$	400

(a)Debt issued to repay a portion of outstanding intercompany short-term debt and for general corporate purposes.

(b)Duke Energy (Parent) issued 600 million euros aggregate principal amount of 3.10% senior notes due June 2028 and 500 million euros aggregate principal amount of 3.85% senior notes due June 2034. Debt issued to repay a $500 million debt maturity, pay down short-term debt and for general corporate purposes. Duke Energy's obligations under its euro-denominated fixed-rate notes were effectively converted to fixed-rate U.S. dollars at issuance through cross-currency swaps, mitigating foreign currency exchange risk associated with the interest and principal payments. See Note 15 for additional information.

(c)Debt issued to repay a portion of short-term debt and for general corporate purposes.

(d)Proceeds will be used to repay a portion of commercial paper and for general corporate purposes.

(e)Debt issued to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework.

(f)Debt issued to repay a portion of outstanding intercompany short-term debt and for general company purposes.

(g)Debt issued to refund the Ohio Air Quality Development Revenue Refunding bonds, previously held in treasury, which were used to finance or refinance portions of certain solid waste disposal facilities. The mandatory purchase date of these bonds is June 1, 2027.

(h)Debt issued to provide funds to refund the prior bonds, which were used to finance or refinance portions of certain air and water pollution control equipment and solid waste disposal equipment. The mandatory purchase date of these bonds is October 1, 2026.

(i)Debt issued to provide funds to refund the prior bonds, which were used to finance or refinance portions of certain air and water pollution control equipment and solid waste disposal equipment. The mandatory purchase date of these bonds is October 1, 2030.

				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 were used to finance or refinance, in whole or in part, existing or new eligible projects under the sustainable financing framework.

Schedule of Line of Credit Facilities

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

	December 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	$	2,375	$	1,925	$	800	$	1,150	$	900	$	1,050	$	800
Reduction to backstop issuances
Commercial paper(b)	(3,685)		463		(1,533)		(389)		(605)		(522)		(585)		(514)
Outstanding letters of credit	(40)		(27)		(4)		(2)		(7)		—		—		—
Tax-exempt bonds	(81)		—		—		—		—		—		(81)		—
Available capacity	$	5,194	$	2,811	$	388	$	409	$	538	$	378	$	384	$	286

(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.