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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Current and Noncurrent Assets and Liabilities
The following table provides a description of amounts included in Other within Current Assets or Current Liabilities that exceed 5% of total Current Assets or Current Liabilities on the Duke Energy Registrants' Consolidated Balance Sheets at either December 31, 2019, or 2018.
 
 
 
December 31,
(in millions)
Location
 
2019

 
2018

Duke Energy
 
 
 
 
 
Taxes receivable
Current Assets
 
$
357

 
$
729

Accrued compensation
Current Liabilities
 
862

 
793

Duke Energy Carolinas
 
 
 
 
 
Accrued compensation
Current Liabilities
 
$
271

 
$
251

Other accrued liabilities
Current Liabilities
 
147

 
55

Progress Energy
 
 
 

 
 

Customer deposits
Current Liabilities
 
$
354

 
$
345

Duke Energy Florida
 
 
 

 
 

Customer deposits
Current Liabilities
 
$
209

 
$
208

Other accrued liabilities
Current Liabilities
 
89

 
85

Duke Energy Indiana
 
 
 

 
 

Income taxes receivable
Current Assets
 
$
44

 
$
9

Customer deposits
Current Liabilities
 
49

 
47
Schedule of Cash and Cash Equivalents The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
 
December 31, 2019
 
December 31, 2018
 
 
 
Duke

 
 
 
Duke

 
Duke

Progress

Energy

 
Duke

Progress

Energy

 
Energy

Energy

Florida

 
Energy

Energy

Florida

Current Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
311

$
48

$
17

 
$
442

$
67

$
36

Other
222

39

39

 
141

39

39

Other Noncurrent Assets
 
 
 
 
 
 
 
Other
40

39

—

 
8

6

—

Total cash, cash equivalents and restricted cash
$
573

$
126

$
56

 
$
591

$
112

$
75
Components of Inventory The components of inventory are presented in the tables below.
 
December 31, 2019
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
 
 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

 
 
(in millions)
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

 
Piedmont

Materials and supplies
$
2,297

 
$
768

 
$
1,038

 
$
686

 
$
351

 
$
79

 
$
318

 
$
5

Coal
586

 
187

 
186

 
138

 
48

 
15

 
198

 
—

Natural gas, oil and other
349

 
41

 
199

 
110

 
90

 
41

 
1

 
67

Total inventory
$
3,232

 
$
996

 
$
1,423

 
$
934

 
$
489

 
$
135

 
$
517

 
$
72

 
December 31, 2018
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
 
 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

 
 
(in millions)
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

 
Piedmont

Materials and supplies
$
2,238

 
$
731

 
$
1,049

 
$
734

 
$
315

 
$
84

 
$
312

 
$
2

Coal
491

 
175

 
192

 
106

 
86

 
14

 
109

 
—

Natural gas, oil and other
355

 
42

 
218

 
114

 
103

 
28

 
1

 
68

Total inventory
$
3,084

 
$
948

 
$
1,459

 
$
954

 
$
504

 
$
126

 
$
422

 
$
70
Schedule of Property, Plant and Equipment The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 
Years Ended December 31,
 
2019

 
2018

 
2017

Duke Energy
3.1
%
 
3.0
%
 
2.8
%
Duke Energy Carolinas
2.8
%
 
2.8
%
 
2.8
%
Progress Energy
3.1
%
 
2.9
%
 
2.6
%
Duke Energy Progress
3.1
%
 
2.9
%
 
2.6
%
Duke Energy Florida
3.1
%
 
3.0
%
 
2.8
%
Duke Energy Ohio
2.6
%
 
2.8
%
 
2.8
%
Duke Energy Indiana
3.3
%
 
3.3
%
 
3.0
%
Piedmont
2.4
%
 
2.5
%
 
2.3
%

The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
 
December 31, 2019
 
Estimated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Useful
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
 
 
Life
 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

 
 
(in millions)
(Years)
 
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

 
Piedmont
Land
 
 
$
2,091

 
$
520

 
$
884

 
$
449

 
$
435

 
$
150

 
$
117

 
$
388

Plant – Regulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric generation, distribution and transmission
15-100
 
111,739

 
42,723

 
48,142

 
30,018

 
18,124

 
5,838

 
15,032

 
—

Natural gas transmission and distribution
4-73
 
9,839

 
—

 
—

 
—

 
—

 
2,892

 
—

 
6,947

Other buildings and improvements
23-90
 
1,810

 
714

 
401

 
162

 
239

 
269

 
278

 
148

Plant – Nonregulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric generation, distribution and transmission
5-30
 
5,103

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other buildings and improvements
25-35
 
488

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Nuclear fuel

 
3,253

 
1,891

 
1,362

 
1,362

 
—

 
—

 
—

 
—

Equipment
3-25
 
2,313

 
546

 
665

 
452

 
213

 
319

 
205

 
128

Construction in process

 
6,102

 
1,389

 
2,149

 
1,114

 
1,035

 
504

 
381

 
531

Other
2-40
 
4,916

 
1,139

 
1,467

 
1,046

 
411

 
269

 
292

 
304

Total property, plant and equipment(a)(e)
 
 
147,654

 
48,922

 
55,070

 
34,603

 
20,457

 
10,241

 
16,305

 
8,446

Total accumulated depreciation – regulated(b)(c)
 
 
(43,419
)
 
(16,525
)
 
(17,159
)
 
(11,915
)
 
(5,236
)
 
(2,843
)
 
(5,233
)
 
(1,681
)
Total accumulated depreciation – nonregulated(d)(e)
 
 
(2,354
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Generation facilities to be retired, net
 
 
246

 
—

 
246

 
246

 
—

 
—

 
—

 
—

Total net property, plant and equipment
 
 
$
102,127


$
32,397


$
38,157


$
22,934


$
15,221


$
7,398

 
$
11,072

 
$
6,765

(a)
Includes finance leases of $952 million, $211 million, $443 million, $308 million, $135 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $143 million, $17 million and $126 million, respectively, of accumulated amortization of finance leases.
(b)
Includes $1,807 million, $1,082 million, $725 million and $725 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)
Includes accumulated amortization of finance leases of $6 million, $13 million and $3 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)
Includes accumulated amortization of finance leases of $20 million at Duke Energy.
(e)
Includes gross property, plant and equipment cost of consolidated VIEs of $5,747 million and accumulated depreciation of consolidated VIEs of $1,041 million at Duke Energy.
 
December 31, 2018
 
Estimated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Useful
 
 
 
Duke

 
 
 
Duke

 
Duke

 
Duke

 
Duke

 
 
 
Life
 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
Energy

 
Energy

 
 
(in millions)
(Years)
 
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Ohio

 
Indiana

 
Piedmont
Land
 
 
$
2,072

 
$
472

 
$
868

 
$
445

 
$
423

 
$
136

 
$
116

 
$
448

Plant – Regulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric generation, distribution and transmission
15-100
 
100,706

 
38,468

 
42,760

 
26,147

 
16,613

 
5,182

 
14,292

 
—

Natural gas transmission and distribution
12-80
 
8,808

 
—

 
—

 
—

 
—

 
2,719

 
—

 
6,089

Other buildings and improvements
24-90
 
1,966

 
681

 
636

 
295

 
341

 
270

 
253

 
126

Plant – Nonregulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric generation, distribution and transmission
5-30
 
4,410

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other buildings and improvements
25-35
 
494

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Nuclear fuel
 
 
3,460

 
1,898

 
1,562

 
1,562

 
—

 
—

 
—

 
—

Equipment
3-55
 
2,141

 
467

 
565

 
399

 
166

 
384

 
178

 
141

Construction in process
 
 
5,726

 
1,678

 
2,515

 
1,659

 
856

 
412

 
325

 
382

Other
3-40
 
4,675

 
1,077

 
1,354

 
952

 
393

 
257

 
279

 
300

Total property, plant and equipment(a)(d)
 
 
134,458

 
44,741

 
50,260

 
31,459

 
18,792

 
9,360

 
15,443

 
7,486

Total accumulated depreciation – regulated(b)(c)(d)
 
 
(41,079
)
 
(15,496
)
 
(16,398
)
 
(11,423
)
 
(4,968
)
 
(2,717
)
 
(4,914
)
 
(1,575
)
Total accumulated depreciation – nonregulated(c)(d)
 
 
(2,047
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Generation facilities to be retired, net
 
 
362

 
—

 
362

 
362

 
—

 
—

 
—

 
—

Total net property, plant and equipment
 
 
$
91,694

 
$
29,245

 
$
34,224

 
$
20,398

 
$
13,824

 
$
6,643

 
$
10,529

 
$
5,911

(a)
Includes finance leases of $1,237 million, $135 million, $257 million, $137 million, $120 million, $73 million and $35 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $131 million, $14 million and $117 million, respectively, of accumulated amortization of finance leases.
(b)
Includes $1,947 million, $1,087 million, $860 million and $860 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)
Includes accumulated amortization of finance leases of $61 million, $12 million, $20 million and $10 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively.
(d)
Includes gross property, plant and equipment cost of consolidated VIEs of $4,007 million and accumulated depreciation of consolidated VIEs of $698 million at Duke Energy.
Schedule of Excise Taxes Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows.
 
Years Ended December 31,
(in millions)
2019

 
2018

 
2017

Duke Energy
$
421

 
$
405

 
$
376

Duke Energy Carolinas
39

 
35

 
36

Progress Energy
256

 
241

 
220

Duke Energy Progress
21

 
19

 
19

Duke Energy Florida
235

 
222

 
201

Duke Energy Ohio
101

 
105

 
98

Duke Energy Indiana
23

 
22

 
20

Piedmont
2

 
2

 
2
Summary of Effects of New Accounting Pronouncements
Duke Energy elected the modified retrospective method of adoption effective January 1, 2019. Under the modified retrospective method of adoption, prior year reported results are not restated. For adoption, Duke Energy elected to apply the following practical expedients:
Practical Expedient
Description
Package of transition practical expedients (for leases commenced prior to adoption date and must be adopted as a package)
Do not need to 1) reassess whether any expired or existing contracts are/or contain leases, 2) reassess the lease classification for any expired or existing leases and 3) reassess initial direct costs for any existing leases.
Short-term lease expedient (elect by class of underlying asset)
Elect as an accounting policy to not apply the recognition requirements to short-term leases by asset class.
Lease and non-lease components (elect by class of underlying asset)
Elect as an accounting policy to not separate non-lease components from lease components and instead account for each lease and associated non-lease component as a single lease component by asset class.
Hindsight expedient (when determining lease term)
Elect to use hindsight to determine the lease term.
Existing and expired land easements not previously accounted for as leases
Elect to not evaluate existing or expired easements under the new guidance and carry forward current accounting treatment.
Comparative reporting requirements for initial adoption

Elect to apply transition requirements at adoption date, recognize cumulative effect adjustment to retained earnings in period of adoption and not apply the new requirements to comparative periods, including disclosures.
Lessor expedient (elect by class of underlying asset)

Elect as an accounting policy to aggregate non-lease components with the related lease component when specified conditions are met by asset class. Account for the combined component based on its predominant characteristic (revenue or operating lease).
Duke Energy currently expects to record a reserve for credit losses as shown in approximate amounts in the table below:
 
December 31, 2019
 
 
 
Duke

 
 
 
Duke

 
Duke

 
 
 
Duke

 
Energy

 
Progress

 
Energy

 
Energy

 
 
(in millions)
Energy

 
Carolinas

 
Energy

 
Progress

 
Florida

 
Piedmont

Total pretax impact to Retained Earnings
$
120

 
$
16

 
$
2

 
$
1

 
$
1

 
$
1