Employee Benefit Plans

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

DEFINED BENEFIT RETIREMENT PLANS

Duke Energy and certain subsidiaries maintain, and the Subsidiary Registrants participate in, qualified and non-qualified, non-contributory defined benefit retirement plans. Duke Energy's policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants.

QUALIFIED PENSION PLANS

The following tables include the components of net periodic pension costs for qualified pension plans.

	Three Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	44	$	14	$	12	$	8	$	6	$	1	$	3	$	2
Interest cost on projected benefit obligation	55		12		18		8		9		4		4		2
Expected return on plan assets	(140)		(35)		(47)		(21)		(25)		(7)		(10)		(5)
Amortization of actuarial loss	34		8		9		4		5		1		4		3
Amortization of prior service credit	(8)		(2)		—		(1)		—		—		(1)		(4)
Amortization of settlement charges	2		2		—		1		—		—		—		—
Net periodic pension costs	$	(13)	$	(1)	$	(8)	$	(1)	$	(5)	$	(1)	$	—	$	(2)

	Three Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	42	$	14	$	12	$	8	$	6	$	1	$	2	$	2
Interest cost on projected benefit obligation	68		15		22		9		11		4		5		3
Expected return on plan assets	(143)		(36)		(47)		(22)		(26)		(7)		(10)		(6)
Amortization of actuarial loss	30		7		9		4		5		1		3		3
Amortization of prior service credit	(8)		(2)		(1)		(1)		(1)		—		(1)		(3)
Amortization of settlement charges	3		1		—		1		—		—		—		—
Net periodic pension costs	$	(8)	$	(1)	$	(5)	$	(1)	$	(5)	$	(1)	$	(1)	$	(1)

	Six Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	88	$	28	$	25	$	15	$	11	$	2	$	5	$	3
Interest cost on projected benefit obligation	110		25		35		15		19		7		9		4
Expected return on plan assets	(279)		(70)		(94)		(42)		(51)		(14)		(20)		(10)
Amortization of actuarial loss	67		15		19		9		10		3		7		5
Amortization of prior service credit	(15)		(4)		(1)		(1)		—		—		(1)		(5)
Amortization of settlement charges	4		3		1		1		—		—		—		—
Net periodic pension costs	$	(25)	$	(3)	$	(15)	$	(3)	$	(11)	$	(2)	$	—	$	(3)

	Six Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	83	$	26	$	24	$	14	$	11	$	2	$	4	$	3
Interest cost on projected benefit obligation	135		31		43		19		23		8		11		5
Expected return on plan assets	(286)		(72)		(95)		(44)		(51)		(14)		(21)		(11)
Amortization of actuarial loss	64		14		20		9		11		3		6		5
Amortization of prior service credit	(16)		(4)		(2)		(1)		(1)		—		(1)		(5)
Amortization of settlement charges	5		2		1		1		—		—		—		—
Net periodic pension costs	$	(15)	$	(3)	$	(9)	$	(2)	$	(7)	$	(1)	$	(1)	$	(3)

NON-QUALIFIED PENSION PLANS

Net periodic pension costs for non-qualified pension plans were not material for the three and six months ended June 30, 2021, and 2020.

OTHER POST-RETIREMENT BENEFIT PLANS

Net periodic costs for OPEB plans were not material for the three and six months ended June 30, 2021, and 2020.