XML 82 R40.htm IDEA: XBRL DOCUMENT

Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2019

Variable Interest Entity, Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.



	Duke Energy
			Duke Energy		Duke Energy		Duke Energy
			Carolinas		Progress		Florida
(in millions)	CRC		DERF		DEPR		DEFR
Expiration date	December 2020		December 2020		February 2021		April 2021
Credit facility amount	$	350	$	475	$	325	$	250
Amounts borrowed at June 30, 2019	328		475		325		250
Amounts borrowed at December 31, 2018	325		450		300		225
Restricted Receivables at June 30, 2019	484		671		518		472
Restricted Receivables at December 31, 2018	564		699		547		357

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets.



	June 30, 2019
	Duke Energy										Duke		Duke
	Pipeline			Commercial		Other					Energy		Energy
(in millions)	Investments			Renewables		VIEs		Total			Ohio		Indiana
Receivables from affiliated companies	$	—		$	—	$	—	$	—		$	45	$	81
Investments in equity method unconsolidated affiliates	1,066			187		52		1,305			—		—
Total assets	$	1,066		$	187	$	52	$	1,305		$	45	$	81
Taxes accrued	(2		)	—		—		(2		)	—		—
Other current liabilities	—			—		4		4			—		—
Deferred income taxes	48			—		—		48			—		—
Other noncurrent liabilities	—			—		11		11			—		—
Total liabilities	$	46		$	—	$	15	$	61		$	—	$	—
Net assets	$	1,020		$	187	$	37	$	1,244		$	45	$	81



	December 31, 2018
	Duke Energy										Duke		Duke
	Pipeline			Commercial		Other					Energy		Energy
(in millions)	Investments			Renewables		VIEs		Total			Ohio		Indiana
Receivables from affiliated companies	$	—		$	—	$	—	$	—		$	93	$	118
Investments in equity method unconsolidated affiliates	822			190		48		1,060			—		—
Total assets	$	822		$	190	$	48	$	1,060		$	93	$	118
Taxes accrued	(1		)	—		—		(1		)	—		—
Other current liabilities	—			—		4		4			—		—
Deferred income taxes	21			—		—		21			—		—
Other noncurrent liabilities	—			—		12		12			—		—
Total liabilities	$	20		$	—	$	16	$	36		$	—	$	—
Net assets	$	802		$	190	$	32	$	1,024		$	93	$	118

DEFPF [Member] | Variable Interest Entity, Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets.



(in millions)	June 30, 2019		December 31, 2018
Receivables of VIEs	$	8	$	5
Regulatory Assets: Current	52		52
Current Assets: Other	31		39
Other Noncurrent Assets: Regulatory assets	1,019		1,041
Current Liabilities: Other	10		10
Current maturities of long-term debt	54		53
Long-Term Debt	1,082		1,111

Commercial Renewables [Member] | Variable Interest Entity, Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The table below presents material balances reported on Duke Energy's Condensed Consolidated Balance Sheets related to renewables VIEs.



(in millions)	June 30, 2019			December 31, 2018
Current Assets: Other	$	109		$	123
Property, plant and equipment, cost	4,419			4,007
Accumulated depreciation and amortization	(769		)	(698		)
Other Noncurrent Assets: Other	289			261
Current maturities of long-term debt	178			174
Long-Term Debt	1,610			1,587
Other Noncurrent Liabilities: Asset Retirement Obligations	108			106
Other Noncurrent Liabilities: Other	222			212

Pipeline Investments [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The table below presents Duke Energy's ownership interest and investment balances in these joint ventures.



			VIE Investment Amount (in millions)
	Ownership		June 30,		December 31,
Entity Name	Interest		2019		2018
ACP^(a)	47	%	$	1,041	$	797
Constitution	24	%	25		25
Total			$	1,066	$	822

(a)

Duke Energy evaluated this investment for impairment as of June 30, 2019, and December 31, 2018, and determined that fair value approximated carrying value and therefore no impairment was necessary.

Cinergy Receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following table shows the gross and net receivables sold.



	Duke Energy Ohio				Duke Energy Indiana
(in millions)	June 30, 2019		December 31, 2018		June 30, 2019		December 31, 2018
Receivables sold	$	210	$	269	$	314	$	336
Less: Retained interests	45		93		81		118
Net receivables sold	$	165	$	176	$	233	$	218

The following table shows sales and cash flows related to receivables sold.



	Duke Energy Ohio								Duke Energy Indiana
	Three Months Ended				Six Months Ended				Three Months Ended				Six Months Ended
	June 30,				June 30,				June 30,				June 30,
(in millions)	2019		2018		2019		2018		2019		2018		2019		2018
Sales
Receivables sold	$	429	$	461	$	1,004	$	1,028	$	676	$	692	$	1,410	$	1,386
Loss recognized on sale	3		3		7		6		4		4		9		7
Cash flows
Cash proceeds from receivables sold	$	448	$	465	$	1,045	$	1,050	$	680	$	686	$	1,438	$	1,397
Collection fees received	1		1		1		1		1		1		1		1
Return received on retained interests	2		1		4		3		2		2		5		4

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details