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Business Segments
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
Duke Energy
Duke Energy's segment structure includes the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables.
The Electric Utilities and Infrastructure segment primarily includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. On January 28, 2021, Duke Energy executed an agreement providing for an investment by an affiliate of GIC in Duke Energy Indiana in exchange for a 19.9% minority interest issued by Duke Energy Indiana Holdco, LLC, the holding company for Duke Energy Indiana. The transaction will be completed following two closings for an aggregate purchase price of approximately $2 billion. The first closing, which occurred on September 8, 2021, resulted in Duke Energy Indiana Holdco, LLC issuing 11.05% of its membership interests in exchange for approximately $1,025 million or 50% of the purchase price. Duke Energy retained indirect control of these assets, and, therefore, no gain or loss was recognized on the Condensed Consolidated Statements of Operations. Duke Energy has the discretion to determine the timing of the second closing, but it will occur no later than January 2023. At the second closing, Duke Energy will issue and sell additional membership interests such that GIC will own 19.9% of the membership interests for the remaining 50% of the purchase price.
The Gas Utilities and Infrastructure segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky and Duke Energy's natural gas storage, midstream pipeline and renewable natural gas investments.
The Commercial Renewables segment is primarily comprised of nonregulated utility-scale wind and solar generation assets located throughout the U.S. On August 4, 2022 Duke Energy announced a strategic review of the Commercial Renewables business segment. The review remains in the preliminary stage and there have been no binding or non-binding offers requested or submitted. Duke Energy can provide no assurance that this process will result in a transaction and there is no specific timeline for execution of a potential transaction. If the potential sale were to progress it could result in classification of the Commercial Renewables segment as assets held for sale and as discontinued operations. If Duke Energy is unable to recover its book value of these assets through a sale, it could result in an impairment.

Duke Energy continues to monitor recoverability of its renewable merchant plants located in the ERCOT West market and in the PJM West market due to fluctuating market pricing and long-term forecasted energy prices. The assets were not impaired as of June 30, 2022, because the carrying value of approximately $195 million continues to be supported by the expected cash flows. Duke Energy has a 51% ownership interest in these assets. A decline in energy market pricing or other factors unfavorably impacting the economics would likely result in a future impairment.
The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs, Duke Energy’s wholly owned captive insurance company, Bison, and Duke Energy's ownership interest in National Methanol Company.
Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.
Three Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andCommercialReportable
(in millions)InfrastructureInfrastructureRenewablesSegmentsOtherEliminationsTotal
Unaffiliated revenues$6,126 $430 $121 $6,677 $8 $— $6,685 
Intersegment revenues9 23 — 32 22 (54)— 
Total revenues$6,135 $453 $121 $6,709 $30 $(54)$6,685 
Segment income (loss)(a)
$974 $19 $30 $1,023 $(130)$— $893 
Less: Noncontrolling interests27 
Add: Preferred stock dividend14 
Net Income$880 
Segment assets$145,874 $15,420 $7,276 $168,570 $3,821 $(8)$172,383 
Three Months Ended June 30, 2021
ElectricGasTotal
Utilities andUtilities andCommercialReportable
(in millions)InfrastructureInfrastructureRenewablesSegmentsOtherEliminationsTotal
Unaffiliated revenues$5,328 $305 $119 $5,752 $6 $— $5,758 
Intersegment revenues7 22 — 29 21 (50)— 
Total revenues$5,335 $327 $119 $5,781 $27 $(50)$5,758 
Segment income (loss)(b)
$935 $17 $47 $999 $(248)$— $751 
Less: Noncontrolling interests67 
Add: Preferred stock dividend14 
Net Income$698 
(a)Electric Utilities and Infrastructure includes $2 million within Noncontrolling Interests related to the Duke Energy Indiana Supreme Court ruling on the Condensed Consolidated Statements of Operations. See Note 3 for additional information. Commercial Renewables includes a $21 million loss recorded within Nonregulated electric and other revenues related to mark-to-market derivative contracts on the Condensed Consolidated Statements of Operations.
(b)Gas Utilities and Infrastructure includes $16 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. Other includes $131 million recorded within Impairment of assets and other charges, $27 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Condensed Consolidated Statements of Operations, related to the workplace and workplace realignment.
Six Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andCommercialReportable
(in millions)InfrastructureInfrastructureRenewablesSegmentsOtherEliminationsTotal
Unaffiliated revenues$12,121 $1,439 $242 $13,802 $15 $— $13,817 
Intersegment revenues16 46 — 62 45 (107)— 
Total revenues$12,137 $1,485 $242 $13,864 $60 $(107)$13,817 
Segment income (loss)(a)
$1,697 $273 $41 $2,011 $(300)$— $1,711 
Less: Noncontrolling interests64 
Add: Preferred stock dividend53 
Net Income$1,700 
Six Months Ended June 30, 2021
ElectricGasTotal
Utilities andUtilities andCommercialReportable
(in millions)InfrastructureInfrastructureRenewablesSegmentsOtherEliminationsTotal
Unaffiliated revenues$10,601 $1,057 $238 $11,896 $12 $— $11,908 
Intersegment revenues15 45 — 60 41 (101)— 
Total revenues$10,616 $1,102 $238 $11,956 $53 $(101)$11,908 
Segment income (loss)(b)
$1,755 $262 $74 $2,091 $(387)$— $1,704 
Less: Noncontrolling interests118 
Add: Preferred stock dividend53 
Net Income$1,639 
(a)Electric Utilities and Infrastructure includes $211 million recorded within Impairment of assets and other charges, $46 million within Regulated electric revenues and $20 million within Noncontrolling Interests related to the Duke Energy Indiana Supreme Court ruling on the Condensed Consolidated Statements of Operations. See Note 3 for additional information. Commercial Renewables includes a $21 million loss recorded within Nonregulated electric and other revenues related to mark-to-market derivative contracts on the Condensed Consolidated Statements of Operations.
(b)Gas Utilities and Infrastructure includes $22 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. Commercial Renewables includes a $35 million loss related to Texas Storm Uri, of which ($8 million) is recorded within Nonregulated electric and other revenues, $2 million within Operations, maintenance and other, $29 million within Equity in earnings (losses) of unconsolidated affiliates and $12 million within Loss Attributable to Noncontrolling Interests on the Condensed Consolidated Statements of Operations. See Note 4 for additional information. Other includes $131 million recorded within Impairment of assets and other charges, $27 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Condensed Consolidated Statements of Operations, related to the workplace and workplace realignment.
Duke Energy Ohio
Duke Energy Ohio has two reportable segments, Electric Utilities and Infrastructure and Gas Utilities and Infrastructure. The remainder of Duke Energy Ohio's operations is presented as Other.
Three Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$401 $144 $545 $— $— $545 
Segment income/Net (loss) income$37 $19 $56 $— $— $56 
Segment assets$7,237 $3,899 $11,136 $14 $(135)$11,015 
Three Months Ended June 30, 2021
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$343 $113 $456 $— $456 
Segment income/Net (loss) income$24 $23 $47 $(8)$39 
Six Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$813 $370 $1,183 $— $1,183 
Segment income/Net (loss) income$78 $57 $135 $(2)$133 
Six Months Ended June 30, 2021
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$706 $282 $988 $— $988 
Segment income/Net (loss) income$74 $66 $140 $(10)$130