XML 41 R2.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Operating Revenues        
Regulated electric $ 6,176 $ 6,075 $ 12,500 $ 12,008
Regulated natural gas 331 425 1,213 1,427
Nonregulated electric and other 71 64 141 140
Total operating revenues 6,578 6,564 13,854 13,575
Operating Expenses        
Operation, maintenance and other 1,375 1,367 2,685 2,915
Depreciation and amortization 1,333 1,237 2,560 2,494
Property and other taxes 353 368 742 750
Impairment of assets and other charges     1,442 206
Impairment of assets and other charges   (9) 8 206
Total operating expenses 5,179 5,124 10,788 10,824
Gains on Sales of Other Assets and Other, net 31 8 38 11
Operating Income 1,430 1,448 3,104 2,762
Other Income and Expenses        
Equity in earnings of unconsolidated affiliates 20 38 40 64
Other income and expenses, net 147 114 298 203
Total other income and expenses 167 152 338 267
Interest Expense 727 588 1,447 1,157
Income From Continuing Operations Before Income Taxes 870 1,012 1,995 1,872
Income Tax Expense From Continuing Operations 119 114 274 139
Income From Continuing Operations 751 898 1,721 1,733
Loss from discontinued operations, net of tax (955) (18) (1,164) (33)
Net (Loss) Income (204) 880 557 1,700
Add: Net (Income) Loss Attributable to Noncontrolling Interests (16) 27 27 64
Net Income (loss) Attributable to Parent (220) 907 584 1,764
Less: Preferred Dividends 14 14 53 53
Net Income Available to Common Stockholders (234) 893 531 1,711
Other Comprehensive Income, net of tax        
Pension and OPEB adjustments [1] 1 2   4
Net unrealized gain on cash flow hedges [1] 26 149 6 262
Unrealized (losses) gains on available-for-sale securities [1] (2) (8) 4 (21)
Other Comprehensive Income (Loss), net of tax [1] 55 135 29 242
Comprehensive (Loss) Income (149) 1,015 586 1,942
Add: Comprehensive Loss Attributable to Noncontrolling Interests 16 (23) (27) (52)
Comprehensive Income Attributable to Duke Energy Corporation $ (165) $ 1,038 $ 613 $ 1,994
Income from continuing operations available to Duke Energy Corporation common stockholders        
Basic (in usd per share) $ 0.91 $ 1.11 $ 2.10 $ 2.17
Diluted (in usd per share) 0.91 1.11 2.10 2.17
(Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders        
Basic (in usd per share) (1.23) 0.03 (1.41) 0.05
Diluted (in usd per share) (1.23) 0.03 (1.41) 0.05
Net (loss) income available to Duke Energy Corporation common stockholders        
Basic (in usd per share) (0.32) 1.14 0.69 2.22
Diluted (in usd per share) $ (0.32) $ 1.14 $ 0.69 $ 2.22
Weighted average shares outstanding        
Basic (in shares) 771 770 770 770
Diluted (in shares) 771 770 770 770
Fuel used in electric generation and purchased power        
Operating Expenses        
Cost of sales $ 2,039 $ 1,972 $ 4,416 $ 3,789
Cost of natural gas        
Operating Expenses        
Cost of sales 79 189 377 670
Duke Energy Carolinas        
Operating Revenues        
Total operating revenues 1,828 1,781 3,762 3,669
Operating Expenses        
Cost of sales 510 431 1,133 879
Operation, maintenance and other 421 462 861 974
Depreciation and amortization 413 384 779 763
Property and other taxes 91 77 186 170
Impairment of assets and other charges 4 (12) 6 (9)
Total operating expenses 1,439 1,342 2,965 2,777
Gains on Sales of Other Assets and Other, net 26   26  
Operating Income 415 439 823 892
Other Income and Expenses        
Total other income and expenses 59 58 118 113
Interest Expense 172 143 332 284
Income From Continuing Operations Before Income Taxes 302 354 609 721
Income Tax Expense From Continuing Operations 32 26 67 53
Net Income (loss) Attributable to Parent 270 328 542 668
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation 270 328 542 668
Progress Energy        
Operating Revenues        
Total operating revenues 3,212 3,214 6,260 6,206
Operating Expenses        
Cost of sales 1,176 1,258 2,367 2,322
Operation, maintenance and other 684 603 1,252 1,248
Depreciation and amortization 542 509 1,046 1,045
Property and other taxes 173 151 341 303
Impairment of assets and other charges   4 5 4
Total operating expenses 2,575 2,525 5,011 4,922
Gains on Sales of Other Assets and Other, net 6 1 12 3
Operating Income 643 690 1,261 1,287
Other Income and Expenses        
Total other income and expenses 38 70 97 105
Interest Expense 219 208 465 419
Income From Continuing Operations Before Income Taxes 462 552 893 973
Income Tax Expense From Continuing Operations 77 93 149 160
Net (Loss) Income 385 459 744 813
Other Comprehensive Income, net of tax        
Net unrealized gain on cash flow hedges       1
Unrealized (losses) gains on available-for-sale securities   (1) 2 (3)
Other Comprehensive Income (Loss), net of tax   (1) 2 (2)
Comprehensive (Loss) Income 385 458 746 811
Duke Energy Progress        
Operating Revenues        
Total operating revenues 1,425 1,581 2,958 3,213
Operating Expenses        
Cost of sales 489 593 1,034 1,167
Operation, maintenance and other 356 360 706 751
Depreciation and amortization 296 271 611 577
Property and other taxes 47 41 95 90
Impairment of assets and other charges 3 4 7 4
Total operating expenses 1,191 1,269 2,453 2,589
Gains on Sales of Other Assets and Other, net 1   1 1
Operating Income 235 312 506 625
Other Income and Expenses        
Total other income and expenses 32 32 61 54
Interest Expense 104 90 206 175
Income From Continuing Operations Before Income Taxes 163 254 361 504
Income Tax Expense From Continuing Operations 23 35 52 70
Net Income (loss) Attributable to Parent 140 219 309 434
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation 140 219 309 434
Duke Energy Florida        
Operating Revenues        
Total operating revenues 1,782 1,628 3,292 2,983
Operating Expenses        
Cost of sales 687 665 1,333 1,155
Operation, maintenance and other 324 241 537 490
Depreciation and amortization 245 237 435 468
Property and other taxes 126 109 246 212
Impairment of assets and other charges (2)   (1)  
Total operating expenses 1,380 1,252 2,550 2,325
Gains on Sales of Other Assets and Other, net   1 1 2
Operating Income 402 377 743 660
Other Income and Expenses        
Total other income and expenses 7 40 37 55
Interest Expense 87 90 202 174
Income From Continuing Operations Before Income Taxes 322 327 578 541
Income Tax Expense From Continuing Operations 64 66 115 109
Net Income (loss) Attributable to Parent 258 261 463 432
Other Comprehensive Income, net of tax        
Unrealized (losses) gains on available-for-sale securities   (1) 2 (2)
Other Comprehensive Income (Loss), net of tax   (1) 2 (2)
Comprehensive Income Attributable to Duke Energy Corporation 258 260 465 430
Duke Energy Ohio        
Operating Revenues        
Regulated electric 465 401 939 813
Regulated natural gas 124 144 359 370
Total operating revenues 589 545 1,298 1,183
Operating Expenses        
Operation, maintenance and other 121 109 244 287
Depreciation and amortization 86 83 176 163
Property and other taxes 84 92 164 193
Total operating expenses 475 457 1,036 1,050
Gains on Sales of Other Assets and Other, net   1   1
Operating Income 114 89 262 134
Other Income and Expenses        
Total other income and expenses 13 6 21 12
Interest Expense 43 30 79 60
Income From Continuing Operations Before Income Taxes 84 65 204 86
Income Tax Expense From Continuing Operations 13 9 33 (47)
Net Income (loss) Attributable to Parent 71 56 171 133
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation 71 56 171 133
Duke Energy Ohio | Fuel used in electric generation and purchased power        
Operating Expenses        
Cost of sales 164 127 340 254
Duke Energy Ohio | Cost of natural gas        
Operating Expenses        
Cost of sales 20 46 112 153
Duke Energy Indiana        
Operating Revenues        
Total operating revenues 780 918 1,755 1,740
Operating Expenses        
Cost of sales 248 359 697 678
Operation, maintenance and other 180 182 364 374
Depreciation and amortization 169 155 327 311
Property and other taxes 7 22 25 47
Impairment of assets and other charges       212
Impairment of assets and other charges       211
Total operating expenses 604 718 1,413 1,621
Operating Income 176 200 342 119
Other Income and Expenses        
Total other income and expenses 14 8 28 18
Interest Expense 52 45 104 90
Income From Continuing Operations Before Income Taxes 138 163 266 47
Income Tax Expense From Continuing Operations 24 14 46 (23)
Net Income (loss) Attributable to Parent 114 149 220 70
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation 114 149 220 70
Piedmont        
Operating Revenues        
Total operating revenues 236 310 911 1,115
Operating Expenses        
Cost of sales 59 143 265 517
Operation, maintenance and other 82 88 171 183
Depreciation and amortization 59 56 116 110
Property and other taxes 14 15 30 31
Impairment of assets and other charges 5   4  
Impairment of assets and other charges     (4)  
Total operating expenses 209 302 578 841
Gains on Sales of Other Assets and Other, net 0 4   4
Operating Income 27 12 333 278
Other Income and Expenses        
Total other income and expenses 16 15 32 28
Interest Expense 39 34 79 66
Income From Continuing Operations Before Income Taxes 4 (7) 286 240
Income Tax Expense From Continuing Operations 1 (6) 51 27
Net (Loss) Income 3 (1) 235 213
Net Income (loss) Attributable to Parent 3 (1) 235 213
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation $ 3 $ (1) $ 235 $ 213
[1] Net of income tax expense of approximately $16 million and $40 million for the three months ended June 30, 2023, and 2022, respectively and approximately $9 million and $72 million for the six months ended June 30, 2023, and 2022, respectively.