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Derivatives and Hedging (Tables)
 3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Amounts of Outstanding Derivative Positions
The following table shows notional amounts of outstanding derivatives related to interest rate risk.
March 31, 2021
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhio
Cash flow hedges$1,630 $— $— $— $— $— 
Undesignated contracts1,731 400 1,250 750 500 27 
Total notional amount(a)
$3,361 $400 $1,250 $750 $500 $27 
December 31, 2020
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhio
Cash flow hedges$632 $— $— $— $— $— 
Undesignated contracts1,177 400 750 750 — 27 
Total notional amount(a)
$1,809 $400 $750 $750 $— $27 
(a)    Duke Energy includes amounts related to consolidated VIEs of $631 million in cash flow hedges and $54 million in undesignated contracts as of March 31, 2021, and $632 million in cash flow hedges as of December 31, 2020.
The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.
March 31, 2021
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)(a)
16,259 — — — 1,325 4,214 — 
Natural gas (millions of dekatherms)675 151 158 158 — 2 364 
December 31, 2020
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)(a)
35,409 — — — 2,559 10,802 — 
Natural gas (millions of dekatherms)678 145 158 158 — 2 373 
(a)    Duke Energy includes 10,720 GWh and 22,048 GWh related to cash flow hedges as of March 31, 2021, and December 31, 2020, respectively.
Location And Fair Value Of Derivatives Recognized in the Condensed Consolidated Balance Sheets
The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Condensed Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.
Derivative AssetsMarch 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$32 $17 $12 $12 $— $— $2 $1 
Noncurrent14 7 7 7 — — — — 
Total Derivative Assets – Commodity Contracts$46 $24 $19 $19 $— $— $2 $1 
Interest Rate Contracts
Designated as Hedging Instruments
Current$31 $— $— $— $— $— $— $— 
Not Designated as Hedging Instruments
Current$129 $38 $84 $81 $3 $— $— $— 
Total Derivative Assets – Interest Rate Contracts$160 $38 $84 $81 $3 $— $— $— 
Total Derivative Assets$206 $62 $103 $100 $3 $— $2 $1 
Derivative LiabilitiesMarch 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Designated as Hedging Instruments
Current$19 $— $— $— $— $— $— — 
Noncurrent109 — — — — — — — 
Not Designated as Hedging Instruments
Current$19 $— $— $— $— $— $— $19 
Noncurrent154 — 25 9 — — — 129 
Total Derivative Liabilities – Commodity Contracts$301 $— $25 $9 $— $— $— $148 
Interest Rate Contracts
Designated as Hedging Instruments
Current$15 $— $— $— $— $— $— $— 
Noncurrent25 — — — — — — — 
Not Designated as Hedging Instruments
Current4 — 3 — 3 1 — — 
Noncurrent4 — — — — 4 — — 
Total Derivative Liabilities – Interest Rate Contracts$48 $— $3 $— $3 $5 $— $— 
Total Derivative Liabilities$349 $— $28 $9 $3 $5 $— $148 
Derivative AssetsDecember 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$30 $14 $9 $9 $— $1 $6 $1 
Noncurrent13 6 6 6 — — — — 
Total Derivative Assets – Commodity Contracts$43 $20 $15 $15 $— $1 $6 $1 
Interest Rate Contracts
Not Designated as Hedging Instruments
Current$18 $— $18 $18 $— $— $— $— 
Total Derivative Assets – Interest Rate Contracts$18 $— $18 $18 $— $— $— $— 
Total Derivative Assets$61 $20 $33 $33 $— $1 $6 $1 
Derivative LiabilitiesDecember 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Designated as Hedging Instruments
Current$14 $— $— $— $— $— $— $— 
Noncurrent70 — — — — — — — 
Not Designated as Hedging Instruments
Current$30 $13 $2 $2 $— $— $1 $15 
Noncurrent137 3 27 12 — — — 107 
Total Derivative Liabilities – Commodity Contracts$251 $16 $29 $14 $— $— $1 $122 
Interest Rate Contracts
Designated as Hedging Instruments
Current$15 $— $— $— $— $— $— $— 
Noncurrent48 — — — — — — — 
Not Designated as Hedging Instruments
Current5 4 — — — 1 — — 
Noncurrent5 — — — — 5 — — 
Total Derivative Liabilities – Interest Rate Contracts$73 $4 $— $— $— $6 $— $— 
Total Derivative Liabilities$324 $20 $29 $14 $— $6 $1 $122 
Offsetting Assets
The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.
Derivative AssetsMarch 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$192 $55 $96 $93 $3 $— $2 $1 
Gross amounts offset— — — — — — — — 
Net amounts presented in Current Assets: Other$192 $55 $96 $93 $3 $— $2 $1 
Noncurrent
Gross amounts recognized$14 $7 $7 $7 $— $— $— $— 
Gross amounts offset(4)— (4)(4)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$10 $7 $3 $3 $— $— $— $— 
Derivative LiabilitiesMarch 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$57 $— $3 $— $3 $1 $— $19 
Gross amounts offset— — — — — — — — 
Net amounts presented in Current Liabilities: Other$57 $— $3 $— $3 $1 $— $19 
Noncurrent
Gross amounts recognized$292 $— $25 $9 $— $4 $— $129 
Gross amounts offset(4)— (4)(4)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$288 $— $21 $5 $— $4 $— $129 
Derivative AssetsDecember 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$48 $14 $27 $27 $— $1 $6 $1 
Gross amounts offset(3)(2)(2)(2)— — — — 
Net amounts presented in Current Assets: Other$45 $12 $25 $25 $— $1 $6 $1 
Noncurrent
Gross amounts recognized$13 $6 $6 $6 $— $— $— $— 
Gross amounts offset(5)(1)(4)(4)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$8 $5 $2 $2 $— $— $— $— 
Derivative LiabilitiesDecember 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$64 $17 $2 $2 $— $1 $1 $15 
Gross amounts offset(3)(2)(2)(2)— — — — 
Net amounts presented in Current Liabilities: Other$61 $15 $— $— $— $1 $1 $15 
Noncurrent
Gross amounts recognized$260 $3 $27 $12 $— $5 $— $107 
Gross amounts offset(5)(1)(4)(4)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$255 $2 $23 $8 $— $5 $— $107 
Offsetting Liabilities
The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.
Derivative AssetsMarch 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$192 $55 $96 $93 $3 $— $2 $1 
Gross amounts offset— — — — — — — — 
Net amounts presented in Current Assets: Other$192 $55 $96 $93 $3 $— $2 $1 
Noncurrent
Gross amounts recognized$14 $7 $7 $7 $— $— $— $— 
Gross amounts offset(4)— (4)(4)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$10 $7 $3 $3 $— $— $— $— 
Derivative LiabilitiesMarch 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$57 $— $3 $— $3 $1 $— $19 
Gross amounts offset— — — — — — — — 
Net amounts presented in Current Liabilities: Other$57 $— $3 $— $3 $1 $— $19 
Noncurrent
Gross amounts recognized$292 $— $25 $9 $— $4 $— $129 
Gross amounts offset(4)— (4)(4)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$288 $— $21 $5 $— $4 $— $129 
Derivative AssetsDecember 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$48 $14 $27 $27 $— $1 $6 $1 
Gross amounts offset(3)(2)(2)(2)— — — — 
Net amounts presented in Current Assets: Other$45 $12 $25 $25 $— $1 $6 $1 
Noncurrent
Gross amounts recognized$13 $6 $6 $6 $— $— $— $— 
Gross amounts offset(5)(1)(4)(4)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$8 $5 $2 $2 $— $— $— $— 
Derivative LiabilitiesDecember 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$64 $17 $2 $2 $— $1 $1 $15 
Gross amounts offset(3)(2)(2)(2)— — — — 
Net amounts presented in Current Liabilities: Other$61 $15 $— $— $— $1 $1 $15 
Noncurrent
Gross amounts recognized$260 $3 $27 $12 $— $5 $— $107 
Gross amounts offset(5)(1)(4)(4)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$255 $2 $23 $8 $— $5 $— $107