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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts For Assets And Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 8. See Note 9 for additional information related to investments by major security type for the Duke Energy Registrants.
September 30, 2021
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$164 $164 $— $— $— 
NDTF equity securities6,754 6,705 — — 49 
NDTF debt securities2,943 998 1,945 — — 
Other equity securities145 145 — — — 
Other debt securities283 45 238 — — 
Other cash and cash equivalents87 87 — — — 
Derivative assets543 27 490 26 — 
Total assets10,919 8,171 2,673 26 49 
Derivative liabilities(415)(2)(256)(157)— 
Net assets (liabilities)$10,504 $8,169 $2,417 $(131)$49 
December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$177 $177 $— $— $— 
NDTF equity securities6,235 6,189 — — 46 
NDTF debt securities2,717 874 1,843 — — 
Other equity securities146 146 — — — 
Other debt securities285 37 248 — — 
Other cash and cash equivalents127 127 — — — 
Derivative assets61 1 53 7 — 
Total assets9,748 7,551 2,144 7 46 
Derivative liabilities(324)— (240)(84)— 
Net assets (liabilities)$9,424 $7,551 $1,904 $(77)$46 
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs
The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
Three Months Ended September 30,Nine Months Ended September 30,
(in millions) 2021202020212020
Balance at beginning of period$(131)$(92)$(77)$(102)
Total pretax realized or unrealized losses included in comprehensive income(11)(102)(86)(102)
Purchases, sales, issuances and settlements:
Purchases— — 21 14 
Settlements4 (3)(4)(18)
Total gains (losses) included on the Condensed Consolidated Balance Sheet7 (6)15 5 
Balance at end of period$(131)$(203)$(131)$(203)
Quantitative Information Table - Level 3
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
September 30, 2021
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy      
Electricity contracts$(157)RTO forward pricingForward electricity curves – price per MWh$18.02 -$143.85 $38.43 
Duke Energy Ohio 
FTRs2 RTO auction pricingFTR price – per MWh0.06 -1.27 0.71 
Duke Energy Indiana 
FTRs24 RTO auction pricingFTR price – per MWh(1.11)-8.55 1.61 
Duke Energy
Total Level 3 derivatives$(131)
December 31, 2020
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy      
Electricity contracts$(84)Discounted cash flowForward electricity curves – price per MWh$14.68 -$151.84$28.84
Duke Energy Ohio   
FTRs1 RTO auction pricingFTR price – per MWh0.25 -1.68 0.79 
Duke Energy Indiana    
FTRs6 RTO auction pricingFTR price – per MWh(2.40)-7.41 1.05 
Duke Energy
Total Level 3 derivatives$(77)
Schedule Of Long Term Debt Fair Value
The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements.
September 30, 2021December 31, 2020
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$62,802 $69,381 $59,863 $69,292 
Duke Energy Carolinas12,975 14,964 12,218 14,917 
Progress Energy19,488 22,593 19,264 23,470 
Duke Energy Progress9,848 10,915 9,258 10,862 
Duke Energy Florida7,549 8,932 7,915 9,756 
Duke Energy Ohio3,092 3,517 3,089 3,650 
Duke Energy Indiana4,092 4,883 4,091 5,204 
Piedmont2,968 3,320 2,780 3,306 
(a)Book value of long-term debt includes $1.3 billion at September 30, 2021, and December 31, 2020, of net unamortized debt discount and premium of purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.
Duke Energy Carolinas  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts For Assets And Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
September 30, 2021
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$60 $60 $— $— 
NDTF equity securities3,912 3,863 — 49 
NDTF debt securities1,461 359 1,102 — 
Derivative assets271 — 271 — 
Total assets5,704 4,282 1,373 49 
Derivative liabilities(18)— (18)— 
Net assets$5,686 $4,282 $1,355 $49 
December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$30 $30 $— $— 
NDTF equity securities3,685 3,639 — 46 
NDTF debt securities1,250 192 1,058 — 
Derivative assets20 — 20 — 
Total assets4,985 3,861 1,078 46 
Derivative liabilities(20)— (20)— 
Net assets$4,965 $3,861 $1,058 $46 
Progress Energy  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts For Assets And Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
September 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$104 $104 $— $147 $147 $— 
NDTF equity securities2,842 2,842 — 2,550 2,550 — 
NDTF debt securities1,482 639 843 1,467 682 785 
Other debt securities26 — 26 26 — 26 
Other cash and cash equivalents18 18 — 106 106 — 
Derivative assets215 — 215 33 — 33 
Total assets4,687 3,603 1,084 4,329 3,485 844 
Derivative liabilities(12)— (12)(29)— (29)
Net assets$4,675 $3,603 $1,072 $4,300 $3,485 $815 
Duke Energy Progress  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts For Assets And Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
September 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$92 $92 $— $76 $76 $— 
NDTF equity securities2,736 2,736 — 2,459 2,459 — 
NDTF debt securities1,030 278 752 993 237 756 
Other cash and cash equivalents16 16 — 1 1 — 
Derivative assets215 — 215 33 — 33 
Total assets4,089 3,122 967 3,562 2,773 789 
Derivative liabilities— — — (14)— (14)
Net assets$4,089 $3,122 $967 $3,548 $2,773 $775 
Duke Energy Florida  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts For Assets And Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
September 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$12 $12 $— $71 $71 $— 
NDTF equity securities106 106 — 91 91 — 
NDTF debt securities452 361 91 474 445 29 
Other debt securities26 — 26 26 — 26 
Other cash and cash equivalents1 1 — 1 1 — 
Total assets597 480 117 663 608 55 
Derivative liabilities(12)— (12)— — — 
Net assets$585 $480 $105 $663 $608 $55 
Duke Energy Indiana  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts For Assets And Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
September 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$90 $90 $— $— $97 $97 $— $— 
Other debt securities46 — 46 — 45 — 45 — 
Other cash and cash equivalents19 19 — — 1 1 — — 
Derivative assets36 12 — 24 6 — — 6 
Total assets191 121 46 24 149 98 45 6 
Derivative liabilities(2)(2)— — (1)(1)— — 
Net assets$189 $119 $46 $24 $148 $97 $45 $6 
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2021202020212020
Balance at beginning of period$22 $10 $6 $11 
Purchases, sales, issuances and settlements:
Purchases— — 18 10 
Settlements(3)(3)(12)(13)
Total gains included on the Condensed Consolidated Balance Sheet5 1 12 — 
Balance at end of period$24 $8 $24 $8 
Piedmont  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts For Assets And Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
September 30, 2021December 31, 2020
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$12 $12 $— $1 $1 $— 
Derivative liabilities(148)— (148)(122)— (122)
Net (liabilities) assets$(136)$12 $(148)$(121)$1 $(122)
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2021202020212020
Balance at beginning of period$— $(105)$— $(117)
Total (losses) gains and settlements— (6)— 6 
Balance at end of period$— $(111)$— $(111)