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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
Organization And Basis Of Presentation [Line Items]  
Schedule of Current and Noncurrent Assets and Liabilities
The following table provides a description of amounts included in Other within Current Assets or Current Liabilities that exceed 5 percent of total Current Assets or Current Liabilities on the Duke Energy Registrants' Consolidated Balance Sheets at either December 31, 2018, or 2017.
 
 
 
December 31,
(in millions)
Location
 
2018

 
2017

Duke Energy
 
 
 
 
 
Income taxes receivable
Current Assets
 
$
729

 
$
330

Accrued compensation
Current Liabilities
 
793

 
757

Duke Energy Carolinas
 
 
 
 
 
Accrued compensation
Current Liabilities
 
$
251

 
$
252

Progress Energy
 
 
 

 
 

Income taxes receivable
Current Assets
 
$
66

 
$
278

Customer deposits
Current Liabilities
 
345

 
338

Duke Energy Progress
 
 
 

 
 

Customer deposits
Current Liabilities
 
$
137

 
$
129

Accrued compensation
Current Liabilities
 
130

 
132

Duke Energy Florida
 
 
 

 
 

Customer deposits
Current Liabilities
 
$
208

 
$
208

Other accrued liabilities
Current Liabilities
 
85

 
16

Duke Energy Ohio
 
 
 

 
 

Income taxes receivable
Current Assets
 
$
13

 
$
36

Customer deposits
Current Liabilities
 
44

 
46

Duke Energy Indiana
 
 
 

 
 

Customer deposits
Current Liabilities
 
$
47

 
$
45

Piedmont
 
 
 
 
 
Income taxes receivable
Current Assets
 
$
11

 
$
43
Schedule of Cash and Cash Equivalents
The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
 
December 31, 2018
 
December 31, 2017
 
 
 
Duke

 
 
 
Duke

 
Duke

Progress

Energy

 
Duke

Progress

Energy

 
Energy

Energy

Florida

 
Energy

Energy

Florida

Current Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
442

$
67

$
36

 
$
358

$
40

$
13

Other
141

39

39

 
138

40

40

Other Noncurrent Assets
 
 
 
 
 
 
 
Other
8

6

—

 
9

7

—

Total cash, cash equivalents and restricted cash
$
591

$
112

$
75

 
$
505

$
87

$
53
Components Of Inventory
The components of inventory are presented in the tables below.
 
December 31, 2018
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
 
 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

 
 
(in millions)
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

 
Piedmont

Materials and supplies
$
2,238

 
$
731

 
$
1,049

 
$
734

 
$
315

 
$
84

 
$
312

 
$
2

Coal
491

 
175

 
192

 
106

 
86

 
14

 
109

 
—

Natural gas, oil and other
355

 
42

 
218

 
114

 
103

 
28

 
1

 
68

Total inventory
$
3,084

 
$
948

 
$
1,459

 
$
954

 
$
504

 
$
126

 
$
422

 
$
70

 
December 31, 2017
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
 
 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

 
 
(in millions)
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

 
Piedmont

Materials and supplies
$
2,293

 
$
744

 
$
1,118

 
$
774

 
$
343

 
$
82

 
$
309

 
$
2

Coal
603

 
192

 
255

 
139

 
116

 
17

 
139

 
—

Natural gas, oil and other
354

 
35

 
219

 
104

 
115

 
34

 
2

 
64

Total inventory
$
3,250

 
$
971

 
$
1,592

 
$
1,017

 
$
574

 
$
133

 
$
450

 
$
66
Schedule Of Property, Plant And Equipment
The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 
Years Ended December 31,
 
2018

 
2017

 
2016

Duke Energy
3.0
%
 
2.8
%
 
2.8
%
Duke Energy Carolinas
2.8
%
 
2.8
%
 
2.8
%
Progress Energy
2.9
%
 
2.6
%
 
2.7
%
Duke Energy Progress
2.9
%
 
2.6
%
 
2.6
%
Duke Energy Florida
3.0
%
 
2.8
%
 
2.8
%
Duke Energy Ohio
2.8
%
 
2.8
%
 
2.6
%
Duke Energy Indiana
3.3
%
 
3.0
%
 
3.1
%
Piedmont(a)
2.5
%
 
2.3
%
 
 

(a)
Piedmont's weighted average depreciation rate was 2.4 percent for the annualized two months ended December 31, 2016, and for the year ended October 31, 2016.
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
 
December 31, 2018
 
Estimated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Useful
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
 
 
Life
 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

 
 
(in millions)
(Years)
 
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

 
Piedmont
Land
 
 
$
2,072

 
$
472

 
$
868

 
$
445

 
$
423

 
$
136

 
$
116

 
$
448

Plant – Regulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric generation, distribution and transmission
15-100
 
100,706

 
38,468

 
42,760

 
26,147

 
16,613

 
5,182

 
14,292

 
—

Natural gas transmission and distribution
12-80
 
8,808

 
—

 
—

 
—

 
—

 
2,719

 
—

 
6,089

Other buildings and improvements
24-90
 
1,966

 
681

 
636

 
295

 
341

 
270

 
253

 
126

Plant – Nonregulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric generation, distribution and transmission
5-30
 
4,410

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other buildings and improvements
25-35
 
494

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Nuclear fuel

 
3,460

 
1,898

 
1,562

 
1,562

 
—

 
—

 
—

 
—

Equipment
3-55
 
2,141

 
467

 
565

 
399

 
166

 
384

 
178

 
141

Construction in process

 
5,726

 
1,678

 
2,515

 
1,659

 
856

 
412

 
325

 
382

Other
3-40
 
4,675

 
1,077

 
1,354

 
952

 
393

 
257

 
279

 
300

Total property, plant and equipment(a)(d)
 
 
134,458

 
44,741

 
50,260

 
31,459

 
18,792

 
9,360

 
15,443

 
7,486

Total accumulated depreciation – regulated(b)(c)(d)
 
 
(41,079
)
 
(15,496
)
 
(16,398
)
 
(11,423
)
 
(4,968
)
 
(2,717
)
 
(4,914
)
 
(1,575
)
Total accumulated depreciation – nonregulated(c)(d)
 
 
(2,047
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Generation facilities to be retired, net
 
 
362

 
—

 
362

 
362

 
—

 
—

 
—

 
—

Total net property, plant and equipment
 
 
$
91,694


$
29,245


$
34,224


$
20,398


$
13,824


$
6,643

 
$
10,529

 
$
5,911

(a)
Includes capitalized leases of $1,237 million, $135 million, $257 million, $137 million, $120 million, $73 million and $35 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $131 million, $14 million and $117 million, respectively, of accumulated amortization of capitalized leases.
(b)
Includes $1,947 million, $1,087 million, $860 million and $860 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)
Includes accumulated amortization of capitalized leases of $61 million, $12 million, $20 million and $10 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively.
(d)
Includes gross property, plant and equipment cost of consolidated VIEs of $4,007 million and accumulated depreciation of consolidated VIEs of $698 million at Duke Energy.
 
December 31, 2017
 
Estimated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Useful
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
 
 
Life
 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

 
 
(in millions)
(Years)
 
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

 
Piedmont
Land
 
 
$
1,559

 
$
467

 
$
767

 
$
424

 
$
343

 
$
134

 
$
111

 
$
41

Plant – Regulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric generation, distribution and transmission
8-100
 
93,687

 
35,657

 
39,419

 
24,502

 
14,917

 
4,870

 
13,741

 
—

Natural gas transmission and distribution
12-80
 
8,292

 
—

 
—

 
—

 
—

 
2,559

 
—

 
5,733

Other buildings and improvements
15-100
 
1,936

 
647

 
652

 
316

 
336

 
243

 
240

 
154

Plant – Nonregulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric generation, distribution and transmission(a)
5-30
 
4,273

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other buildings and improvements
25-35
 
465

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Nuclear fuel
 
 
3,680

 
2,120

 
1,560

 
1,560

 
—

 
—

 
—

 
—

Equipment
3-55
 
2,122

 
402

 
555

 
416

 
139

 
348

 
169

 
266

Construction in process
 
 
6,995

 
2,614

 
3,059

 
1,434

 
1,625

 
350

 
416

 
231

Other
3-40
 
4,498

 
1,032

 
1,311

 
931

 
370

 
228

 
271

 
300

Total property, plant and equipment(b)(e)
 
 
127,507

 
42,939

 
47,323

 
29,583

 
17,730

 
8,732

 
14,948

 
6,725

Total accumulated depreciation – regulated(c)(d)(e)
 
 
(39,742
)
 
(15,063
)
 
(15,857
)
 
(10,903
)
 
(4,947
)
 
(2,691
)
 
(4,662
)
 
(1,479
)
Total accumulated depreciation – nonregulated(d)(e)
 
 
(1,795
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Generation facilities to be retired, net
 
 
421

 
—

 
421

 
421

 
—

 
—

 
—

 
—

Total net property, plant and equipment
 
 
$
86,391

 
$
27,876

 
$
31,887

 
$
19,101

 
$
12,783

 
$
6,041

 
$
10,286

 
$
5,246

(a)
Includes a pretax impairment charge of $58 million on a wholly owned non-contracted wind project. See discussion below.
(b)
Includes capitalized leases of $1,294 million, $81 million, $272 million, $139 million, $133 million, $80 million and $35 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $114 million, $11 million and $103 million, respectively, of accumulated amortization of capitalized leases.
(c)
Includes $2,113 million, $1,283 million, $831 million and $831 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(d)
Includes accumulated amortization of capitalized leases of $57 million, $11 million, $21 million and $9 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively.
(e)
Includes gross property, plant and equipment cost of consolidated VIEs of $3,941 million and accumulated depreciation of consolidated VIEs of $598 million at Duke Energy.
Schedule of Excise Taxes
Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows.
 
Years Ended December 31,
(in millions)
2018

 
2017

 
2016

Duke Energy
$
405

 
$
376

 
$
362

Duke Energy Carolinas
35

 
36

 
31

Progress Energy
241

 
220

 
213

Duke Energy Progress
19

 
19

 
18

Duke Energy Florida
222

 
201

 
195

Duke Energy Ohio
105

 
98

 
100

Duke Energy Indiana
22

 
20

 
17

Piedmont(a)
2

 
2

 
 

(a)
Piedmont's excise taxes were immaterial for the two months ended December 31, 2016, and $2 million for the year ended October 31, 2016.
Summary of Practical Expedients for New Accounting Pronouncements
Duke Energy expects to adopt the following practical expedients:

Practical Expedient
Description
Election
Package of transition practical expedients (for leases commenced prior to adoption date and must be adopted as a package)
Do not need to 1) reassess whether any expired or existing contracts are/or contain leases, 2) reassess the lease classification for any expired or existing leases and 3) reassess initial direct costs for any existing leases.
Duke Energy plans to elect this practical expedient.
Short-term lease expedient (elect by class of underlying asset)
Elect as an accounting policy to not apply the recognition requirements to short-term leases by asset class.
Duke Energy plans to elect this practical expedient for all asset classes.
Lease and non-lease components (elect by class of underlying asset)
Elect as an accounting policy to not separate non-lease components from lease components and instead account for each lease and associated non-lease component as a single lease component by asset class.
Duke Energy plans to elect this practical expedient for all asset classes.
Hindsight expedient (when determining lease term)
Elect to use hindsight to determine the lease term.
Duke Energy plans to elect this practical expedient.
Existing and expired land easements not previously accounted for as leases
Elect to not evaluate existing or expired easements under the new guidance and carry forward current accounting treatment.
Duke Energy plans to elect this practical expedient.
Comparative reporting requirements for initial adoption

Elect to apply transition requirements at adoption date, recognize cumulative effect adjustment to retained earnings in period of adoption and not apply ASC 842 to comparative periods, including disclosures.
Duke Energy plans to elect this practical expedient.
Lessor expedient (elect by class of underlying asset)

Elect as an accounting policy to aggregate non-lease components with the related lease component when specified conditions are met by asset class. Account for the combined component based on its predominant characteristic (revenue or operating lease).
Duke Energy plans to elect this practical expedient for all asset classes.
Duke Energy currently expects to record right-of-use assets and operating lease liabilities on its balance sheet as shown in approximate amounts in the table below:
 
(in millions)

Duke Energy
$
1,700

Duke Energy Carolinas
150

Progress Energy
850

Duke Energy Progress
400

Duke Energy Florida
450

Duke Energy Ohio
25

Duke Energy Indiana
60

Piedmont
30