Debt and Credit Facilities

3 Months Ended

Mar. 31, 2014

Debt And Credit Facilities [Abstract]

6. DEBT AND CREDIT FACILITIES

SUMMARY OF SIGNIFICANT DEBT ISSUANCES

The following table summarizes significant debt issuances (in millions).

				Three Months Ended March 31, 2014

Issuance Date		Maturity Date	Interest Rate		Duke Energy (Parent)		Duke Energy Progress		Duke Energy Florida		Duke Energy
Unsecured Debt
April 2014^(a)		April 2024	3.750	%	$	600	$	―	$	―	$	600
April 2014^(a)		April 2017	0.610	%		400		―		―		400
Secured Debt
March 2014^(b)		March 2017	0.850	%		―		―		225		225
First Mortgage Bonds
March 2014^(c)		March 2044	4.375	%		―		400		―		400
March 2014^(c)		March 2017	0.435	%		―		250		―		250
Total issuances					$	1,000	$	650	$	225	$	1,875

(a)	Proceeds will be used to acquire $402 million of tax-exempt bonds at Duke Energy Ohio, the repayment of outstanding commercial paper and for general corporate purposes.
(b)	Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Florida. Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. See Note 12 for further details.
(c)	Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes.

CURRENT MATURITIES OF LONG-TERM DEBT

The following table shows the significant components of Current maturities of long-term debt on the respective Condensed 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		March 31, 2014
Unsecured Debt
Duke Energy (Parent)	September 2014	3.950	%	$	500
Other					385
Current maturities of long-term debt				$	885

MASTER CREDIT FACILITY

Duke Energy has a master credit facility with a capacity of $6 billion through December 2018. The Subsidiary Registrants, excluding Progress Energy each have borrowing capacity under the master credit facility up to specified sublimits for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the master credit facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder. The table below includes the current borrowing sublimits and available capacity under the master credit facility.


		March 31, 2014
(in millions)			Duke Energy	Duke Energy (Parent)		Duke Energy Carolinas		Duke Energy Progress		Duke Energy Florida		Duke Energy Ohio		Duke Energy Indiana
Facility size^(a)		$	6,000	$	2,250	$	1,000	$	750	$	650	$	650	$	700
Reduction to backstop issuances
Notes payable and commercial paper^(b)			(1,308)		(858)		(300)		―		―		―		(150)
Outstanding letters of credit			(63)		(56)		(4)		(2)		(1)		―		―
Tax-exempt bonds			(240)		―		(75)		―		―		(84)		(81)
Available capacity		$	4,389	$	1,336	$	621	$	748	$	649	$	566	$	469

(a)	Represents the sublimit of each borrower at March 31, 2014.
(b)	Duke Energy issued $450 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas and Duke Energy Indiana. The balances are classified as long-term borrowings within Long-term Debt in Duke Energy Carolinas' and Duke Energy Indiana’s Condensed Consolidated Balance Sheets.


		March 31, 2014
(in millions)			Duke Energy	Duke Energy (Parent)		Duke Energy Carolinas		Duke Energy Progress		Duke Energy Florida		Duke Energy Ohio		Duke Energy Indiana
Facility size^(a)		$	6,000	$	2,250	$	1,000	$	750	$	650	$	650	$	700
Reduction to backstop issuances
Notes payable and commercial paper^(b)			(1,308)		(858)		(300)		―		―		―		(150)
Outstanding letters of credit			(63)		(56)		(4)		(2)		(1)		―		―
Tax-exempt bonds			(240)		―		(75)		―		―		(84)		(81)
Available capacity		$	4,389	$	1,336	$	621	$	748	$	649	$	566	$	469

(a)	Represents the sublimit of each borrower at March 31, 2014.
(b)	Duke Energy issued $450 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas and Duke Energy Indiana. The balances are classified as long-term borrowings within Long-term Debt in Duke Energy Carolinas' and Duke Energy Indiana’s Condensed Consolidated Balance Sheets.


(in millions)	Maturity Date	Interest Rate		March 31, 2014
Unsecured Debt
Duke Energy (Parent)	September 2014	3.950	%	$	500
Other					385
Current maturities of long-term debt				$	885

				Three Months Ended March 31, 2014

Issuance Date		Maturity Date	Interest Rate		Duke Energy (Parent)		Duke Energy Progress		Duke Energy Florida		Duke Energy
Unsecured Debt
April 2014^(a)		April 2024	3.750	%	$	600	$	―	$	―	$	600
April 2014^(a)		April 2017	0.610	%		400		―		―		400
Secured Debt
March 2014^(b)		March 2017	0.850	%		―		―		225		225
First Mortgage Bonds
March 2014^(c)		March 2044	4.375	%		―		400		―		400
March 2014^(c)		March 2017	0.435	%		―		250		―		250
Total issuances					$	1,000	$	650	$	225	$	1,875

(a)	Proceeds will be used to acquire $402 million of tax-exempt bonds at Duke Energy Ohio, the repayment of outstanding commercial paper and for general corporate purposes.
(b)	Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Florida. Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. See Note 12 for further details.
(c)	Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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