Revenue (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations:

	Remaining Performance Obligations
(in millions)	2022		2023		2024		2025		2026		Thereafter		Total
Progress Energy	$	54	$	53	$	45	$	7	$	7	$	43	$	209
Duke Energy Progress	4		8		8		—		—		—		20
Duke Energy Florida	50		45		37		7		7		43		189
Duke Energy Indiana	2		11		16		17		15		12		73

Estimated remaining performance obligations are as follows:

	Remaining Performance Obligations
(in millions)	2022		2023		2024		2025		2026		Thereafter		Total
Piedmont	$	32	$	64	$	61	$	60	$	50	$	286	$	553

Disaggregation of Revenue

Disaggregated revenues are presented as follows:

	Three Months Ended June 30, 2022
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,625	$	736	$	1,400	$	530	$	870	$	196	$	296	$	—
General	1,817		566		889		370		519		111		251		—
Industrial	824		296		274		184		90		33		220		—
Wholesale	629		103		389		281		108		35		102		—
Other revenues	202		92		247		210		37		20		23		—
Total Electric Utilities and Infrastructure revenue from contracts with customers	$	6,097	$	1,793	$	3,199	$	1,575	$	1,624	$	395	$	892	$	—
Gas Utilities and Infrastructure
Residential	$	197	$	—	$	—	$	—	$	—	$	94	$	—	$	103
Commercial	127		—		—		—		—		38		—		90
Industrial	34		—		—		—		—		6		—		28
Power Generation	—		—		—		—		—		—		—		23
Other revenues	66		—		—		—		—		6		—		44
Total Gas Utilities and Infrastructure revenue from contracts with customers	$	424	$	—	$	—	$	—	$	—	$	144	$	—	$	288
Commercial Renewables
Revenue from contracts with customers	$	77	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Other
Revenue from contracts with customers	$	8	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total revenue from contracts with customers	$	6,606	$	1,793	$	3,199	$	1,575	$	1,624	$	539	$	892	$	288
Other revenue sources(a)	$	79	$	(12)	$	15	$	6	$	4	$	6	$	26	$	22
Total revenues	$	6,685	$	1,781	$	3,214	$	1,581	$	1,628	$	545	$	918	$	310

(a)Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.

	Three Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,336	$	683	$	1,216	$	478	$	738	$	171	$	265	$	—
General	1,513		498		720		330		390		106		190		—
Industrial	705		256		229		160		69		33		189		—
Wholesale	521		116		331		285		46		13		63		—
Other revenues	234		62		151		71		80		22		23		—
Total Electric Utilities and Infrastructure revenue from contracts with customers	$	5,309	$	1,615	$	2,647	$	1,324	$	1,323	$	345	$	730	$	—
Gas Utilities and Infrastructure
Residential	$	158	$	—	$	—	$	—	$	—	$	69	$	—	$	88
Commercial	91		—		—		—		—		27		—		59
Industrial	30		—		—		—		—		4		—		27
Power Generation	—		—		—		—		—		—		—		24
Other revenues	20		—		—		—		—		12		—		(1)
Total Gas Utilities and Infrastructure revenue from contracts with customers	$	299	$	—	$	—	$	—	$	—	$	112	$	—	$	197
Commercial Renewables
Revenue from contracts with customers	$	53	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Other
Revenue from contracts with customers	$	6	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total revenue from contracts with customers	$	5,667	$	1,615	$	2,647	$	1,324	$	1,323	$	457	$	730	$	197
Other revenue sources(a)	$	91	$	(5)	$	32	$	25	$	2	$	(1)	$	5	$	18
Total revenues	$	5,758	$	1,610	$	2,679	$	1,349	$	1,325	$	456	$	735	$	215

(a)Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.

	Six Months Ended June 30, 2022
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	5,392	$	1,567	$	2,768	$	1,154	$	1,614	$	407	$	650	$	—
General	3,421		1,110		1,615		695		920		227		469		—
Industrial	1,596		572		544		378		166		68		412		—
Wholesale	1,255		216		800		630		170		58		181		—
Other revenues	404		203		458		349		109		41		(13)		—
Total Electric Utilities and Infrastructure revenue from contracts with customers	$	12,068	$	3,668	$	6,185	$	3,206	$	2,979	$	801	$	1,699	$	—
Gas Utilities and Infrastructure
Residential	$	769	$	—	$	—	$	—	$	—	$	243	$	—	$	526
Commercial	396		—		—		—		—		102		—		294
Industrial	91		—		—		—		—		13		—		78
Power Generation	—		—		—		—		—		—		—		47
Other revenues	181		—		—		—		—		12		—		137
Total Gas Utilities and Infrastructure revenue from contracts with customers	$	1,437	$	—	$	—	$	—	$	—	$	370	$	—	$	1,082
Commercial Renewables
Revenue from contracts with customers	$	128	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Other
Revenue from contracts with customers	$	15	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total Revenue from contracts with customers	$	13,648	$	3,668	$	6,185	$	3,206	$	2,979	$	1,171	$	1,699	$	1,082
Other revenue sources(a)	$	169	$	1	$	21	$	7	$	4	$	12	$	41	$	33
Total revenues	$	13,817	$	3,669	$	6,206	$	3,213	$	2,983	$	1,183	$	1,740	$	1,115

(a)Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.

	Six Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	4,798	$	1,476	$	2,378	$	1,038	$	1,340	$	366	$	578	$	—
General	2,932		1,000		1,344		636		708		210		379		—
Industrial	1,367		512		436		305		131		64		356		—
Wholesale	1,025		230		657		577		80		26		113		—
Other revenues	460		136		311		154		157		44		41		—
Total Electric Utilities and Infrastructure revenue from contracts with customers	$	10,582	$	3,354	$	5,126	$	2,710	$	2,416	$	710	$	1,467	$	—
Gas Utilities and Infrastructure
Residential	$	618	$	—	$	—	$	—	$	—	$	179	$	—	$	439
Commercial	295		—		—		—		—		75		—		215
Industrial	80		—		—		—		—		11		—		70
Power Generation	—		—		—		—		—		—		—		46
Other revenues	67		—		—		—		—		17		—		25
Total Gas Utilities and Infrastructure revenue from contracts with customers	$	1,060	$	—	$	—	$	—	$	—	$	282	$	—	$	795
Commercial Renewables
Revenue from contracts with customers	$	107	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Other
Revenue from contracts with customers	$	12	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total Revenue from contracts with customers	$	11,761	$	3,354	$	5,126	$	2,710	$	2,416	$	992	$	1,467	$	795
Other revenue sources(a)	$	147	$	(28)	$	58	$	40	$	10	$	(4)	$	13	$	26
Total revenues	$	11,908	$	3,326	$	5,184	$	2,750	$	2,426	$	988	$	1,480	$	821

(a)Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.

Reserve for Credit Losses for Trade and Other Receivables

The following table presents the reserve for credit losses for trade and other receivables based on adoption of the new standard.

	Three Months Ended June 30, 2021 and 2022
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at March 31, 2021	$	147	$	34	$	37	$	23	$	15	$	4	$	3	$	14
Write-Offs	(5)		1		(4)		(3)		(1)		—		—		(2)
Credit Loss Expense	12		6		6		4		2		—		—		1
Other Adjustments	(31)		1		(3)		(3)		—		—		—		—
Balance at June 30, 2021	$	123	$	42	$	36	$	21	$	16	$	4	$	3	$	13
Balance at March 31, 2022	$	140	$	52	$	51	$	31	$	21	$	4	$	3	$	17
Write-Offs	(31)		(16)		(9)		(5)		(5)		—		—		(5)
Credit Loss Expense	20		8		7		2		5		—		—		3
Other Adjustments	7		8		3		3		—		—		—		—
Balance at June 30, 2022	$	136	$	52	$	52	$	31	$	21	$	4	$	3	$	15
	Six Months Ended June 30, 2021 and 2022
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at December 31, 2020	$	146	$	23	$	37	$	23	$	14	$	4	$	3	$	12
Write-Offs	(26)		(7)		(14)		(8)		(6)		—		—		(3)
Credit Loss Expense	29		16		13		6		7		—		—		4
Other Adjustments	(26)		10		—		—		1		—		—		—
Balance at June 30, 2021	$	123	$	42	$	36	$	21	$	16	$	4	$	3	$	13
Balance at December 31, 2021	$	122	$	42	$	36	$	21	$	16	$	4	$	3	$	15
Write-Offs	(54)		(25)		(19)		(7)		(13)		—		—		(6)
Credit Loss Expense	44		13		19		6		13		—		—		6
Other Adjustments	24		22		16		11		5		—		—		—
Balance at June 30, 2022	$	136	$	52	$	52	$	31	$	21	$	4	$	3	$	15

Aging of Trade Receivables

The aging of trade receivables is presented in the table below. Duke Energy considers receivables greater than 30 days outstanding past due.

	June 30, 2022
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	1,175	$	412	$	359	$	205	$	154	$	8	$	24	$	10
0-30 days	2,202		592		946		451		492		32		41		127
30-60 days	177		52		90		41		49		2		3		8
60-90 days	88		16		44		20		24		1		6		5
90+ days	274		80		96		46		50		43		14		11
Deferred Payment Arrangements(c)	148		62		61		36		25		1		—		4
Trade and Other Receivables	$	4,064	$	1,214	$	1,596	$	799	$	794	$	87	$	88	$	165

	December 31, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	964	$	316	$	266	$	193	$	73	$	4	$	27	$	106
0-30 days	2,104		595		800		405		393		42		51		202
30-60 days	212		77		72		44		28		4		13		12
60-90 days	88		37		41		21		20		1		1		2
90+ days	249		106		65		37		28		47		11		7
Deferred Payment Arrangements(c)	115		55		45		22		23		2		—		4
Trade and Other Receivables	$	3,732	$	1,186	$	1,289	$	722	$	565	$	100	$	103	$	333

(a)Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy or natural gas delivered but not yet billed and are included within Receivables and Receivables of VIEs on the Condensed Consolidated Balance Sheets.

(b)Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, CRC, and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Condensed Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 11 for further information. These receivables for unbilled revenues are $102 million and $199 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of June 30, 2022, and $82 million and $121 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2021.

(c)Due to certain customer financial hardships created by the COVID-19 pandemic and resulting stay-at-home orders, Duke Energy permitted customers to defer payment of past-due amounts through an installment payment plan over a period of several months.