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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]  
Pension Plan Contributions The following table includes information related to the Duke Energy Registrants’ contributions to its qualified defined benefit pension plans.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Contributions Made:
2021$— $— $— $— $— $— $— $— 
2020— — — — — — — — 
201977 7 57 4 53 2 2 1 
Fair Value and Allocation of Plan Assets
The following table includes the target asset allocations by asset class at December 31, 2021, and the actual asset allocations for the Duke Energy Master Retirement Trust.
Actual Allocation at
TargetDecember 31,
Allocation20212020
Global equity securities27 %24 %30 %
Global private equity securities1 %1 %1 %
Debt securities62 %62 %55 %
Return seeking debt securities4 %4 %5 %
Hedge funds2 %3 %3 %
Real estate and cash4 %6 %6 %
Total100 %100 %100 %
The following table presents target and actual asset allocations for the VEBA trusts at December 31, 2021.
Actual Allocation at
TargetDecember 31,
Allocation20212020
U.S. equity securities30 %19 %36 %
Non-U.S. equity securities5 %5 %6 %
Real estate2 %3 %2 %
Debt securities45 %18 %42 %
Cash18 %55 %14 %
Total100 %100 %100 %
The following tables provide the fair value measurement amounts for the Duke Energy Master Retirement Trust qualified pension and other post-retirement assets.
December 31, 2021
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,575 $2,547 $— $— $28 
Corporate debt securities4,189 — 4,189 — — 
Short-term investment funds382 272 110 — — 
Partnership interests95 — — 95 — 
Hedge funds216 — — — 216 
U.S. government securities1,618 — 1,618 — — 
Governments bonds – foreign78 — 78 — — 
Cash144 144 — — — 
Government and commercial mortgage backed securities2 — 2 — — 
Net pending transactions and other investments53 12 41 — — 
Total assets(a)
$9,352 $2,975 $6,038 $95 $244 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 26%, 32%, 15%, 17%, 5%, 7% and 4%, respectively, of the Duke Energy Master Retirement Trust at December 31, 2021. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
December 31, 2020
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$3,202 $3,162 $— $— $40 
Corporate debt securities4,162 — 4,162 — — 
Short-term investment funds397 247 150 — — 
Partnership interests97 — — — 97 
Hedge funds198 — — — 198 
U.S. government securities1,164 — 1,164 — — 
Governments bonds – foreign73 — 73 — — 
Cash98 98 — — — 
Net pending transactions and other investments88 34 54 — — 
Total assets(a)
$9,479 $3,541 $5,603 $— $335 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 26%, 32%, 15%, 17%, 5%, 7% and 4%, respectively, of the Duke Energy Master Retirement Trust at December 31, 2020. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
The following tables provide the fair value measurement amounts for VEBA trust assets.
December 31, 2021
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$14 $14 
Real estate2 2 
Equity securities18 18 
Debt securities11 11 
Total assets$45 $45 
December 31, 2020
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$5 $5 
Real estate1 1 
Equity securities23 23 
Debt securities19 19 
Total assets$48 $48 
Master Trust Level 3 Rollforward
The following table provides a reconciliation of beginning and ending balances of Duke Energy Master Retirement Trust qualified pension and other post-retirement assets at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3).
(in millions)20212020
Balance at January 1$— $11 
Sales— (12)
Total gains and other, net— 1 
Transfer of Level 3 assets from other classifications95 — 
Balance at December 31$95 $— 
Employee Savings Plan Matching Contributions
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ended December 31,
2021$229 $70 $60 $39 $21 $5 $12 $11 
2020213 67 57 38 19 5 11 13 
2019214 66 58 38 20 5 11 13 
Pension Plan | Qualified Plan  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Pension Costs
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$176 $56 $50 $29 $21 $5 $10 $6 
Interest cost on projected benefit obligation220 51 70 30 39 13 18 7 
Expected return on plan assets(558)(141)(187)(84)(102)(28)(40)(20)
Amortization of actuarial loss133 29 38 18 20 7 13 10 
Amortization of prior service credit(29)(8)(2)(1)(1)(1)(2)(9)
Amortization of settlement charges9 5 2 2 1 — — 1 
Net periodic pension costs(a)(b)
$(49)$(8)$(29)$(6)$(22)$(4)$(1)$(5)
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$165 $51 $48 $27 $21 $5 $9 $6 
Interest cost on projected benefit obligation269 62 85 38 46 15 22 9 
Expected return on plan assets(572)(145)(190)(87)(101)(28)(42)(21)
Amortization of actuarial loss128 28 41 18 23 6 12 9 
Amortization of prior service credit(32)(8)(3)(2)(1)— (2)(9)
Amortization of settlement charges18 9 7 6 1 — 1 1 
Net periodic pension costs(a)(b)
$(24)$(3)$(12)$— $(11)$(2)$— $(5)
Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$158 $49 $46 $26 $20 $4 $9 $5 
Interest cost on projected benefit obligation317 75 100 45 54 18 26 10 
Expected return on plan assets(567)(147)(178)(88)(89)(28)(43)(22)
Amortization of actuarial loss108 24 39 15 24 4 8 8 
Amortization of prior service credit(32)(8)(3)(2)(1)— (2)(9)
Amortization of settlement charge6 2 1 1 — 2 — — 
Net periodic pension costs(a)(b)
$(10)$(5)$5 $(3)$8 $— $(2)$(8)
(a)    Duke Energy amounts exclude $3 million, $4 million and $4 million for the years ended December 2021, 2020 and 2019, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $2 million and $2 million for the years ended December 2021, 2020 and 2019, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net decrease$(261)$(57)$(128)$(31)$(97)$(17)$(19)$(5)
Accumulated other comprehensive loss (income)
Deferred income tax expense$1 $— $— $— $— $— $— $— 
Amortization of prior year service credit1 — — — — — — — 
Amortization of prior year actuarial losses(8)— (1)— — — — — 
Net amount recognized in accumulated other comprehensive income$(6)$— $(1)$— $— $— $— $— 
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase$(62)$(39)$(26)$(30)$4 $(2)$5 $(1)
Accumulated other comprehensive loss (income)
Deferred income tax expense$2 $— $1 $— $1 $— $— $— 
Amortization of prior year service credit1 — — — — — — — 
Amortization of prior year actuarial losses(11)— (1)— (3)— — — 
Net amount recognized in accumulated other comprehensive income$(8)$— $— $— $(2)$— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Net Amount Recognized
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $8,634 $1,988 $2,715 $1,193 $1,507 $502 $715 $293 
Service cost168 54 48 28 20 5 9 6 
Interest cost220 51 70 30 39 13 18 7 
Actuarial gain(200)(42)(108)(18)(89)(10)(10)(5)
Benefits paid(615)(148)(161)(80)(81)(50)(52)(28)
Transfers— — (4)— (4)(10)— — 
Obligation at measurement date$8,207 $1,903 $2,560 $1,153 $1,392 $450 $680 $273 
Accumulated Benefit Obligation at measurement date$8,144 $1,904 $2,529 $1,154 $1,361 $439 $672 $274 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$9,337 $2,381 $3,049 $1,422 $1,605 $472 $684 $343 
Actual return on plan assets513 132 169 79 90 26 37 19 
Benefits paid(615)(148)(161)(80)(81)(50)(52)(28)
Transfers— — (4)— (4)(10)— — 
Plan assets at measurement date$9,235 $2,365 $3,053 $1,421 $1,610 $438 $669 $334 
Funded status of plan$1,028 $462 $493 $268 $218 $(12)$(11)$61 
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $8,321 $1,923 $2,608 $1,170 $1,424 $481 $693 $292 
Service cost157 49 46 26 20 4 8 5 
Interest cost269 62 85 38 46 15 22 9 
Actuarial loss433 83 144 50 93 21 46 14 
Benefits paid(541)(137)(160)(83)(76)(34)(49)(27)
Benefits paid – settlements(5)— — — — — (5)— 
Transfers— 8 (8)(8)— 15 — — 
Obligation at measurement date$8,634 $1,988 $2,715 $1,193 $1,507 $502 $715 $293 
Accumulated Benefit Obligation at measurement date$8,577 $1,989 $2,684 $1,194 $1,476 $493 $709 $294 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$8,910 $2,263 $2,898 $1,364 $1,515 $443 $667 $335 
Actual return on plan assets973 247 319 149 166 48 71 35 
Benefits paid(541)(137)(160)(83)(76)(34)(49)(27)
Benefits paid – settlements(5)— — — — — (5)— 
Transfers— 8 (8)(8)— 15 — — 
Plan assets at measurement date$9,337 $2,381 $3,049 $1,422 $1,605 $472 $684 $343 
Funded status of plan$703 $393 $334 $229 $98 $(30)$(31)$50 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$1,071 $462 $494 $268 $219 $74 $100 $61 
Noncurrent pension liability(b)
$43 $— $1 $— $1 $86 $111 $— 
Net asset (liability) recognized$1,028 $462 $493 $268 $218 $(12)$(11)$61 
Regulatory assets$1,649 $324 $563 $252 $311 $93 $190 $75 
Accumulated other comprehensive (income) loss 
Deferred income tax benefit$(20)$— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial loss92 — 1 — — — — — 
Net amounts recognized in accumulated other comprehensive loss$71 $— $1 $— $— $— $— $— 
December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$780 $393 $379 $229 $143 $58 $79 $50 
Noncurrent pension liability(b)
$77 $— $45 $— $45 $88 $110 $— 
Net asset (liability) recognized$703 $393 $334 $229 $98 $(30)$(31)$50 
Regulatory assets$1,910 $381 $691 $283 $408 $110 $209 $80 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$(21)$— $— $— $— $— $— $— 
Prior service credit(2)— — — — — — — 
Net actuarial loss100 — 2 — — — — — 
Net amounts recognized in accumulated other comprehensive loss$77 $— $2 $— $— $— $— $— 
(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
December 31, 2021
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$153 $284 
Accumulated benefit obligation143 275 
Fair value of plan assets67 173 
December 31, 2020
DukeDukeDuke
DukeProgressEnergyEnergyEnergy
(in millions)EnergyEnergyFloridaOhioIndiana
Projected benefit obligation$4,914 $828 $828 $184 $293 
Accumulated benefit obligation4,856 796 796 176 285 
Fair value of plan assets4,837 783 783 96 183 
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions or range of assumptions used for pension benefit accounting.
December 31,
202120202019
Benefit Obligations
Discount rate2.90%2.60%3.30%
Interest crediting rate4.00%4.00%4.00%
Salary increase 3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Net Periodic Benefit Cost
Discount rate2.60%3.30%4.30%
Interest crediting rate4.00%4.00%4.00%
Salary increase3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Expected long-term rate of return on plan assets6.50%6.85%6.85%
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2022$652 $174 $177 $95 $81 $37 $48 $27 
2023653 173 180 97 82 36 48 24 
2024645 171 181 96 84 35 47 23 
2025632 168 180 94 85 34 47 20 
2026605 155 176 90 86 33 45 21 
2027-20312,705 655 818 389 426 149 218 85 
Other Post-Retirement Benefit Plans  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Other Post-Retirement Benefit Costs
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$4 $1 $1 $— $— $— $1 $— 
Interest cost on accumulated post-retirement benefit obligation18 4 7 4 3 1 1 1 
Expected return on plan assets(11)(7)— — — — — (2)
Amortization of actuarial loss2 — 1 — 1 — 4 — 
Amortization of prior service credit(13)(4)(2)(1)(1)(1)(1)(2)
Net periodic post-retirement benefit costs (a)(b)
$— $(6)$7 $3 $3 $— $5 $(3)
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$4 $1 $1 $— $— $— $1 $— 
Interest cost on accumulated post-retirement benefit obligation23 5 10 5 4 1 2 1 
Expected return on plan assets(13)(8)— — — — — (2)
Amortization of actuarial loss2 — 1 — 1 — 4 — 
Amortization of prior service credit(14)(4)(3)(1)(2)(1)(1)(2)
Net periodic post-retirement benefit costs(a)(b)
$2 $(6)$9 $4 $3 $— $6 $(3)
Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$4 $1 $1 $— $1 $— $1 $— 
Interest cost on accumulated post-retirement benefit obligation30 7 12 7 5 1 3 1 
Expected return on plan assets(12)(7)— — — — — (1)
Amortization of actuarial loss4 2 1 — 1 — 4 — 
Amortization of prior service credit(19)(5)(8)(1)(7)(1)(1)(2)
Net periodic post-retirement benefit costs(a)(b)
$7 $(2)$6 $6 $— $— $7 $(2)
(a)    Duke Energy amounts exclude $5 million, $6 million and $6 million for the years ended December 2021, 2020 and 2019, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $2 million for the years ended December 2021, 2020 and 2019, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase$(15)$— $(18)$(9)$(9)$4 $(4)$— 
Regulatory liabilities, net increase$23 $12 $— $— $— $4 $1 $2 
Accumulated other comprehensive (income) loss
Amortization of prior year actuarial gain$(1)$— $— $— $— $— $— $— 
Net amount recognized in accumulated other comprehensive income$(1)$— $— $— $— $— $— $— 
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)$9 $— $9 $6 $3 $— $(4)$— 
Regulatory liabilities, net decrease$(10)$(7)$— $— $— $— $(1)$— 
Accumulated other comprehensive (income) loss
Amortization of prior year service credit$1 $— $— $— $— $— $— $— 
Net amount recognized in accumulated other comprehensive income$1 $— $— $— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs
Year Ended December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$709 $174 $299 $166 $130 $27 $61 $30 
Service cost4 1 1 — — — 1 — 
Interest cost18 4 7 4 3 1 1 1 
Plan participants' contributions14 3 5 3 2 1 2 — 
Actuarial gains(47)(14)(20)(10)(10)(1)(2)(2)
Benefits paid(73)(19)(29)(16)(13)(3)(9)(2)
Accumulated post-retirement benefit obligation at measurement date$625 $149 $263 $147 $112 $25 $54 $27 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$237 $139 $(1)$(2)$(1)$9 $7 $37 
Actual return on plan assets15 9 — — — 1 — 3 
Benefits paid(73)(19)(29)(16)(13)(3)(9)(2)
Employer contributions18 3 24 13 10 1 6 1 
Plan participants' contributions14 3 5 3 2 1 2 — 
Plan assets at measurement date$211 $135 $(1)$(2)$(2)$9 $6 $39 
Funded status of plan$(414)$(14)$(264)$(149)$(114)$(16)$(48)$12 
Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$723 $175 $303 $168 $135 $29 $64 $30 
Service cost4 1 1 — — — 1 — 
Interest cost23 5 10 5 4 1 2 1 
Plan participants' contributions15 3 5 3 2 1 2 — 
Actuarial losses19 8 8 5 2 — 1 1 
Benefits paid(75)(18)(28)(15)(13)(4)(9)(2)
Accumulated post-retirement benefit obligation at measurement date$709 $174 $299 $166 $130 $27 $61 $30 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$220 $130 $(1)$(1)$— $9 $5 $34 
Actual return on plan assets24 14 — — — — 1 4 
Benefits paid(75)(18)(28)(15)(13)(4)(9)(2)
Employer contributions53 10 23 11 10 3 8 1 
Plan participants' contributions15 3 5 3 2 1 2 — 
Plan assets at measurement date$237 $139 $(1)$(2)$(1)$9 $7 $37 
Funded status of plan$(472)$(35)$(300)$(168)$(131)$(18)$(54)$7 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$12 $— $— $— $— $1 $— $12 
Current post-retirement liability(a)
9 — 5 3 2 1 — — 
Noncurrent post-retirement liability(b)
417 14 259 146 112 16 48 — 
Net liability (asset) recognized$414 $14 $264 $149 $114 $16 $48 $(12)
Regulatory assets$129 $— $126 $79 $47 $4 $28 $— 
Regulatory liabilities$162 $44 $— $— $— $21 $63 $5 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial gain(14)— — — — — — — 
Net amounts recognized in accumulated other comprehensive income$(12)$— $— $— $— $— $— $— 
December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit$8 $— $— $— $— $1 $— $7 
Current post-retirement liability(a)
9 — 6 4 2 2 — — 
Noncurrent post-retirement liability(b)
471 35 294 164 129 17 54 — 
Net liability (asset) recognized$472 $35 $300 $168 $131 $18 $54 $(7)
Regulatory assets$144 $— $144 $88 $56 $— $32 $— 
Regulatory liabilities$139 $32 $— $— $— $17 $62 $3 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial gain(13)— — — — — — — 
Net amounts recognized in accumulated other comprehensive income$(11)$— $— $— $— $— $— $— 
(a)    Included in Other within Current Liabilities on the Consolidated Balance Sheets. 
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions used for other post-retirement benefits accounting.
December 31,
202120202019
Benefit Obligations
Discount rate2.90 %2.60 %3.30 %
Net Periodic Benefit Cost
Discount rate2.60 %3.30 %4.30 %
Expected long-term rate of return on plan assets6.50 %6.85 %6.85 %
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2022$70 $17 $26 $15 $12 $3 $7 $2 
202362 15 25 14 11 3 6 2 
202458 14 23 13 11 3 6 2 
202554 13 22 12 10 2 5 2 
202650 12 21 12 9 2 5 2 
2027-2031207 50 87 49 38 8 19 10 
Assumed Health Care Cost Trend Rate
Assumed Health Care Cost Trend Rate
December 31,
20212020
Health care cost trend rate assumed for next year6.25 %6.25 %
Rate to which the cost trend is assumed to decline (the ultimate trend rate)4.75 %4.75 %
Year that rate reaches ultimate trend20282028