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Condensed Consolidated Statements of Operations and Comprehensive Income - Progress Energy - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating Revenues $ 7,994 $ 7,842 $ 21,848 $ 21,417
Operating Expenses        
Operation, maintenance and other 1,428 1,308 4,113 4,223
Depreciation and amortization 1,353 1,299 3,913 3,793
Property and other taxes 394 368 1,136 1,118
Impairment of assets and other charges 88 (4) 96 202
Total operating expenses 5,891 5,792 16,679 16,616
Gains on Sales of Other Assets and Other, net 8 6 46 17
Operating Income 2,111 2,056 5,215 4,818
Other Income and Expenses, net 178 115 516 382
Interest Expense 774 603 2,221 1,760
Income From Continuing Operations Before Income Taxes 1,515 1,568 3,510 3,440
Income Tax Expense From Continuing Operations 42 158 316 297
Net Income 1,321 1,413 1,878 3,113
Add: Net (Income) Loss Attributable to Noncontrolling Interests 69 (9) 42 (73)
Net Income Attributable to Duke Energy Corporation 1,252 1,422 1,836 3,186
Net unrealized gains on cash flow hedges [1] 200 14 206 276
Unrealized (losses) gains on available-for-sale securities [1] (6) 1 (2) (20)
Other comprehensive income (loss) 232 [1] 0 261 [1] 242 [1]
Comprehensive Income 1,553 1,413 2,139 3,355
Less: Comprehensive Income Attributable to Noncontrolling Interests 69 (4) 42 (56)
Comprehensive Income Attributable to Duke Energy 1,484 1,417 2,097 3,411
Progress Energy        
Operating Revenues 4,055 3,881 10,315 10,087
Operating Expenses        
Cost of sales 1,535 1,605 3,902 3,927
Operation, maintenance and other 711 581 1,963 1,829
Depreciation and amortization 563 562 1,609 1,607
Property and other taxes 205 169 546 472
Impairment of assets and other charges 24   29 4
Total operating expenses 3,038 2,917 8,049 7,839
Gains on Sales of Other Assets and Other, net 8 3 20 6
Operating Income 1,025 967 2,286 2,254
Other Income and Expenses, net 49 45 146 150
Interest Expense 241 197 706 616
Income From Continuing Operations Before Income Taxes 833 815 1,726 1,788
Income Tax Expense From Continuing Operations 131 129 280 289
Net Income 702 686 1,446 1,499
Add: Net (Income) Loss Attributable to Noncontrolling Interests 0 0   1
Net Income Attributable to Duke Energy Corporation 702 686 1,446 1,498
Net unrealized gains on cash flow hedges       1
Unrealized (losses) gains on available-for-sale securities   (1) 2 (4)
Other comprehensive income (loss)   (1) 2 (3)
Comprehensive Income 702 685 1,448 1,496
Less: Comprehensive Income Attributable to Noncontrolling Interests       1
Comprehensive Income Attributable to Duke Energy $ 702 $ 685 $ 1,448 $ 1,495
[1] Net of income tax expense of approximately $69 million for the three months ended September 30, 2023, and approximately $78 million and $72 million for the nine months ended September 30, 2023, and 2022, respectively. All other periods presented include immaterial income tax impacts.