Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The following tables summarize outstanding debt.

	December 31, 2019
	Weighted
	Average					Duke						Duke			Duke			Duke			Duke
	Interest		Duke			Energy			Progress			Energy			Energy			Energy			Energy
(in millions)	Rate		Energy			Carolinas			Energy			Progress			Florida			Ohio			Indiana			Piedmont
Unsecured debt, maturing 2020-2078	4.02	%	$	22,477		$	1,150		$	3,650		$	700		$	350		$	1,110		$	405		$	2,399
Secured debt, maturing 2020-2052	3.30	%	4,537			544			1,722			335			1,387			—			—			—
First mortgage bonds, maturing 2020-2049(a)	4.13	%	27,977			9,557			13,800			7,575			6,225			1,449			3,169			—
Finance leases, maturing 2022-2051(b)	6.60	%	969			179			405			307			98			—			10			—
Tax-exempt bonds, maturing 2022-2041(c)	2.90	%	730			243			48			48			—			77			362			—
Notes payable and commercial paper(d)	1.98	%	3,588			—			—			—			—			—			—			—
Money pool/intercompany borrowings			—			329			1,970			216			—			337			180			476
Fair value hedge carrying value adjustment			5			5			—			—			—			—			—			—
Unamortized debt discount and premium, net(e)			1,294			(23		)	(29		)	(17		)	(11		)	(30		)	(19		)	(2		)
Unamortized debt issuance costs(f)			(316		)	(55		)	(111		)	(40		)	(62		)	(12		)	(20		)	(13		)
Total debt	3.92	%	$	61,261		$	11,929		$	21,455		$	9,124		$	7,987		$	2,931		$	4,087		$	2,860
Short-term notes payable and commercial paper			(3,135		)	—			—			—			—			—			—			—
Short-term money pool/intercompany borrowings			—			(29		)	(1,821		)	(66		)	—			(312		)	(30		)	(476		)
Current maturities of long-term debt(g)			(3,141		)	(458		)	(1,577		)	(1,006		)	(571		)	—			(503		)	—
Total long-term debt(g)			$	54,985		$	11,442		$	18,057		$	8,052		$	7,416		$	2,619		$	3,554		$	2,384

(a) Substantially all electric utility property is mortgaged under mortgage bond indentures.

(b) Duke Energy includes $44 million and $419 million of finance lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.

(c) Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.

(d) Includes $625 million classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper program was 14 days.

(e) Duke Energy includes $1,275 million and $137 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.

(f) Duke Energy includes $37 million in purchase accounting adjustments primarily related to the merger with Progress Energy.

(g) Refer to Note 18 for additional information on amounts from consolidated VIEs.

	December 31, 2018
	Weighted
	Average					Duke						Duke			Duke			Duke			Duke
	Interest		Duke			Energy			Progress			Energy			Energy			Energy			Energy
(in millions)	Rate		Energy			Carolinas			Energy			Progress			Florida			Ohio			Indiana			Piedmont
Unsecured debt, maturing 2019-2078	4.26	%	$	20,955		$	1,150		$	3,800		$	50		$	350		$	1,000		$	408		$	2,150
Secured debt, maturing 2020-2037	3.69	%	4,297			450			1,703			300			1,403			—			—			—
First mortgage bonds, maturing 2019-2048(a)	4.32	%	25,628			8,759			13,100			7,574			5,526			1,099			2,670			—
Finance leases, maturing 2019-2051(b)	5.06	%	941			109			251			137			114			2			10			—
Tax-exempt bonds, maturing 2019-2041(c)	3.40	%	941			243			48			48			—			77			572			—
Notes payable and commercial paper(d)	2.73	%	4,035			—			—			—			—			—			—			—
Money pool/intercompany borrowings			—			739			1,385			444			108			299			317			198
Fair value hedge carrying value adjustment			5			5			—			—			—			—			—			—
Unamortized debt discount and premium, net(e)			1,434			(23		)	(29		)	(15		)	(11		)	(31		)	(8		)	(1		)
Unamortized debt issuance costs(f)			(297		)	(54		)	(112		)	(40		)	(61		)	(7		)	(20		)	(11		)
Total debt	4.13	%	$	57,939		$	11,378		$	20,146		$	8,498		$	7,429		$	2,439		$	3,949		$	2,336
Short-term notes payable and commercial paper			(3,410		)	—			—			—			—			—			—			—
Short-term money pool/intercompany borrowings			—			(439		)	(1,235		)	(294		)	(108		)	(274		)	(167		)	(198		)
Current maturities of long-term debt(g)			(3,406		)	(6		)	(1,672		)	(603		)	(270		)	(551		)	(63		)	(350		)
Total long-term debt(g)			$	51,123		$	10,933		$	17,239		$	7,601		$	7,051		$	1,614		$	3,719		$	1,788

(a) Substantially all electric utility property is mortgaged under mortgage bond indentures.

(b) Duke Energy includes $63 million and $531 million of finance lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.

(c) Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.

(d) Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper programs was 16 days.

(e) Duke Energy includes $1,380 million and $156 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.

(f) Duke Energy includes $41 million in purchase accounting adjustments primarily related to the merger with Progress Energy.

(g)

Refer to Note 18 for additional information on amounts from consolidated VIEs.

The following tables show short-term obligations classified as long-term debt.

	December 31, 2019
			Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Progress		Ohio		Indiana
Tax-exempt bonds	$	312	$	—	$	—	$	27	$	285
Commercial paper(a)	625		300		150		25		150
Total	$	937	$	300	$	150	$	52	$	435

	December 31, 2018
			Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Progress		Ohio		Indiana
Tax-exempt bonds	$	312	$	—	$	—	$	27	$	285
Commercial paper(a)	625		300		150		25		150
Total	$	937	$	300	$	150	$	52	$	435

(a)

Progress Energy amounts are equal to Duke Energy Progress amounts.

The following table shows the significant components of Current maturities of Long-Term Debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.

(in millions)	Maturity Date	Interest Rate			December 31, 2019
Unsecured Debt
Duke Energy (Parent)	June 2020	2.100	%		$	330
Duke Energy Progress	December 2020	2.510	%	(a)	700
First Mortgage Bonds
Duke Energy Florida	January 2020	1.850	%		250
Duke Energy Florida	April 2020	4.550	%		250
Duke Energy Carolinas	June 2020	4.300	%		450
Duke Energy Indiana	July 2020	3.750	%		500
Duke Energy Progress	September 2020	2.065	%	(a)	300
Other(b)					361
Current maturities of long-term debt					$	3,141

(a) Debt has a floating interest rate.

(b)

Includes finance lease obligations, amortizing debt and small bullet maturities.

Schedule of Maturities of Long-term Debt

The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable, commercial paper and money pool borrowings and debt issuance costs for the Subsidiary Registrants.

	December 31, 2019
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy(a)		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
2020	$	3,141	$	458	$	1,578	$	1,006	$	572	—		$	503	$	—
2021	5,053		504		2,257		932		825		50		70		160
2022	4,334		830		1,048		508		90		—		94		—
2023	3,112		1,006		398		319		79		325		3		45
2024	1,965		306		227		160		67		25		154		40
Thereafter	39,542		8,875		14,267		6,190		6,427		2,261		3,272		2,155
Total long-term debt, including current maturities	$	57,147	$	11,979	$	19,775	$	9,115	$	8,060	$	2,661	$	4,096	$	2,400

(a)

Excludes $1,448 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition.

Schedule of Long-term Debt Instruments

The following tables summarize significant debt issuances (in millions).

					Year Ended December 31, 2019
							Duke		Duke		Duke		Duke		Duke		Duke
	Maturity	Interest			Duke		Energy		Energy		Energy		Energy		Energy		Energy
Issuance Date	Date	Rate			Energy		(Parent)		Carolinas		Progress		Florida		Ohio		Indiana		Piedmont
Unsecured Debt
March 2019(a)	Mar 2022	2.538	%	(b)	$	300	$	300	$	—	$	—	$	—	$	—	$	—	$	—
March 2019(a)	Mar 2022	3.227	%		300		300		—		—		—		—		—		—
May 2019(e)	Jun 2029	3.500	%		600		—		—		—		—		—		—		600
June 2019(a)	Jun 2029	3.400	%		600		600		—		—		—		—		—		—
June 2019(a)	Jun 2049	4.200	%		600		600		—		—		—		—		—		—
July 2019(g)	Jul 2049	4.320	%		40		—		—		—		—		40		—		—
September 2019(g)	Oct 2025	3.230	%		95		—		—		—		—		95		—		—
September 2019(g)	Oct 2029	3.560	%		75		—		—		—		—		75		—		—
November 2019(h)	Nov 2021	2.167	%	(b)	200		—		—		—		200		—		—		—
First Mortgage Bonds
January 2019(c)	Feb 2029	3.650	%		400		—		—		—		—		400		—		—
January 2019(c)	Feb 2049	4.300	%		400		—		—		—		—		400		—		—
March 2019(d)	Mar 2029	3.450	%		600		—		—		600		—		—		—		—
August 2019(a)	Aug 2029	2.450	%		450		—		450		—		—		—		—		—
August 2019(a)	Aug 2049	3.200	%		350		—		350		—		—		—		—		—
September 2019(f)	Oct 2049	3.250	%		500		—		—		—		—		—		500		—
November 2019(i)	Dec 2029	2.500	%		700		—		—		—		700		—		—		—
Total issuances					$	6,210	$	1,800	$	800	$	600	$	900	$	1,010	$	500	$	600

(a) Debt issued to pay down short-term debt and for general corporate purposes.

(b) Debt issuance has a floating interest rate.

(c) Debt issued to repay at maturity $450 million first mortgage bonds due April 2019, pay down short-term debt and for general corporate purposes.

(d) Debt issued to fund eligible green energy projects in the Carolinas.

(e) Debt issued to repay in full the outstanding $350 million Piedmont unsecured term loan due September 2019, pay down short-term debt and for general corporate purposes.

(f) Debt issued to retire $150 million of pollution control bonds, pay down short-term debt and for general corporate purposes.

(g) Debt issued to repay at maturity $100 million debentures due October 2019, pay down short-term debt and for general corporate purposes.

(h) Debt issued to fund storm restoration costs and for general corporate purposes.

(i) Debt issued to reimburse the payment of existing and new Eligible Green Expenditures in Florida.

In January 2020, Duke Energy Carolinas closed and funded $900 million of first mortgage bonds of which $500 million carry a fixed interest rate of 2.45% and mature February 2030 and $400 million carry a fixed interest rate of 3.20% and mature August 2049. The proceeds will be used to repay at maturity $450 million, 4.30% debentures maturing June 2020, and for general corporate purposes.

				Year Ended December 31, 2018
						Duke		Duke		Duke		Duke
	Maturity	Interest		Duke		Energy		Energy		Energy		Energy
Issuance Date	Date	Rate		Energy		(Parent)		Carolinas		Progress		Florida
Unsecured Debt
March 2018(a)	April 2025	3.950	%	$	250	$	250	$	—	$	—	$	—
May 2018(b)	May 2021	3.114	%	500		500		—		—		—
September 2018(c)	September 2078	5.625	%	500		500		—		—		—
First Mortgage Bonds
March 2018(d)	March 2023	3.050	%	500		—		500		—		—
March 2018(d)	March 2048	3.950	%	500		—		500		—		—
June 2018(e)	July 2028	3.800	%	600		—		—		—		600
June 2018(e)	July 2048	4.200	%	400		—		—		—		400
August 2018(f)	September 2023	3.375	%	300		—		—		300		—
August 2018(f)	September 2028	3.700	%	500		—		—		500		—
November 2018(g)	May 2022	3.350	%	350		—		350		—		—
November 2018(g)	November 2028	3.950	%	650		—		650		—		—
Total issuances				$	5,050	$	1,250	$	2,000	$	800	$	1,000

(a) Debt issued to pay down short-term debt.

(b) Debt issued to pay down short-term debt. Debt issuance has a floating debt rate.

(c) Callable after September 2023 at par. Junior subordinated hybrid debt issued to pay down short-term debt and for general corporate purposes.

(d) Debt issued to repay at maturity a $300 million first mortgage bond due April 2018, pay down intercompany short-term debt and for general corporate purposes.

(e) Debt issued to repay a portion of intercompany short-term debt under the money pool borrowing arrangement and for general corporate purposes.

(f) Debt issued to repay short-term debt and for general corporate purposes.

(g)

Debt issued to fund eligible green energy projects, including zero-carbon solar and energy storage, in the Carolinas.

Schedule Of Line Of Credit Facilities

The table below includes the current borrowing sublimits and available capacity under these credit facilities.

	December 31, 2019
				Duke			Duke			Duke			Duke		Duke			Duke
	Duke			Energy			Energy			Energy			Energy		Energy			Energy
(in millions)	Energy			(Parent)			Carolinas			Progress			Florida		Ohio			Indiana			Piedmont
Facility size(a)	$	8,000		$	2,650		$	1,500		$	1,250		$	800	$	600		$	600		$	600
Reduction to backstop issuances
Commercial paper(b)	(2,537		)	(1,119		)	(325		)	(207		)	—		(296		)	(176		)	(414		)
Outstanding letters of credit	(50		)	(42		)	(4		)	(2		)	—		—			—			(2		)
Tax-exempt bonds	(81		)	—			—			—			—		—			(81		)	—
Coal ash set-aside	(500		)	—			(250		)	(250		)	—		—			—			—
Available capacity	$	4,832		$	1,489		$	921		$	791		$	800	$	304		$	343		$	184

(a) Represents the sublimit of each borrower.

(b) Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets.