Dispositions (Tables)

9 Months Ended

Sep. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table presents the carrying values of the major classes of Assets held for sale and Liabilities associated with assets held for sale included in Duke Energy's Consolidated Balance Sheets.

(in millions)	September 30, 2023		December 31, 2022
Current Assets Held for Sale
Cash and cash equivalents	$	70	$	10
Receivables, net	107		107
Inventory	84		88
Other	179		151
Total current assets held for sale	440		356
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost	5,387		6,444
Accumulated depreciation and amortization	(1,651)		(1,651)
Net property, plant and equipment	3,736		4,793
Operating lease right-of-use assets, net	144		140
Investments in equity method unconsolidated affiliates	504		522
Other	212		179
Total other noncurrent assets held for sale	860		841
Total Assets Held for Sale	$	5,036	$	5,990
Current Liabilities Associated with Assets Held for Sale
Accounts payable	$	124	$	122
Taxes accrued	22		17
Current maturities of long-term debt	268		276
Other	175		120
Total current liabilities associated with assets held for sale	589		535
Noncurrent Liabilities Associated with Assets Held for Sale
Long-Term debt	1,047		1,188
Operating lease liabilities	154		150
Asset retirement obligations	201		190
Other	232		399
Total other noncurrent liabilities associated with assets held for sale	1,634		1,927
Total Liabilities Associated with Assets Held for Sale	$	2,223	$	2,462

As of September 30, 2023, and December 31, 2022, the noncontrolling interest balance is $1.8 billion and $1.6 billion, respectively.

The following table presents the results of the Commercial Renewables Disposal Groups, which are included in (Loss) Income from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2023		2022		2023		2022
Operating revenues	$	103	$	129	$	293	$	372
Operation, maintenance and other	93		85		270		248
Depreciation and amortization(a)	—		65		—		193
Property and other taxes	8		10		27		31
Other income and expenses, net	(2)		(1)		(9)		(4)
Interest expense	10		18		53		55
Loss on disposal	169		—		1,603		—
Loss before income taxes	(179)		(50)		(1,669)		(159)
Income tax benefit	(27)		(30)		(353)		(106)
Loss from discontinued operations	$	(152)	$	(20)	$	(1,316)	$	(53)
Add: Net (income) loss attributable to noncontrolling interest included in discontinued operations	(38)		20		33		92
Net (loss) income from discontinued operations attributable to Duke Energy Corporation	$	(190)	$	—	$	(1,283)	$	39

(a)    Upon meeting the criteria for assets held for sale, beginning in November 2022 depreciation and amortization expense were ceased.

The following table summarizes Duke Energy's cash flows from discontinued operations related to the Commercial Renewables Disposal Groups.

	Nine Months Ended
	September 30,
(in millions)	2023		2022
Cash flows provided by (used in):
Operating activities	$	545	$	485
Investing activities	(597)		(223)