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Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2024

Variable Interest Entities [Line Items]

The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.


	Duke Energy
		Duke Energy		Duke Energy		Duke Energy
		Carolinas		Progress		Florida
(in millions)	CRC	DERF		DEPR		DEFR
Expiration date	(a)	January 2025		April 2025		(b)
Credit facility amount	(a)	$	500	$	400	(b)
Amounts borrowed at March 31, 2024	—	500		400		325
Amounts borrowed at December 31, 2023	312	500		400		325
Restricted Receivables at March 31, 2024	—	997		789		467
Restricted Receivables at December 31, 2023	663	991		833		532

(a) In March 2024, Duke Energy repaid all outstanding CRC borrowings and terminated the related $350 million CRC credit facility.

(b) In April 2024, Duke Energy Florida repaid all outstanding DEFR borrowings and terminated the related $325 million DEFR credit facility.

VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets.


	March 31, 2024
	Duke Energy		Duke		Duke
	Natural Gas		Energy		Energy
(in millions)	Investments		Ohio		Indiana
Receivables from affiliated companies	$	—	$	—	$	—

Investments in equity method unconsolidated affiliates	63		—		—
Other noncurrent assets	30		—		—
Total assets	$	93	$	—	$	—

Other current liabilities	1		—		—

Other noncurrent liabilities	6		—		—
Total liabilities	$	7	$	—	$	—
Net assets	$	86	$	—	$	—


	December 31, 2023
	Duke Energy		Duke		Duke
	Natural Gas		Energy		Energy
(in millions)	Investments		Ohio		Indiana
Receivables from affiliated companies	$	—	$	150	$	208

Investments in equity method unconsolidated affiliates	67		—		—
Other noncurrent assets	43		—		—
Total assets	$	110	$	150	$	208

Other current liabilities	4		—		—

Other noncurrent liabilities	5		—		—
Total liabilities	$	9	$	—	$	—
Net assets	$	101	$	150	$	208

DEFPF | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets.


(in millions)	March 31, 2024	December 31, 2023

Regulatory Assets: Current	59	59
Current Assets: Other	9	37
Other Noncurrent Assets: Regulatory assets	790	803
Current Liabilities: Other	2	8
Current maturities of long-term debt	59	59
Long-Term Debt	800	831

DECNCSF and DEPNCSF | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the impact of these VIEs on Duke Energy Carolinas’ and Duke Energy Progress’ Consolidated Balance Sheets.


	March 31, 2024				December 31, 2023
	Duke Energy		Duke Energy		Duke Energy		Duke Energy
(in millions)	Carolinas		Progress		Carolinas		Progress
Regulatory Assets: Current	$	12	$	39	$	12	$	39
Current Assets: Other	5		18		9		31
Other Noncurrent Assets: Regulatory assets	193		633		196		643
Other Noncurrent Assets: Other	1		4		1		2

Current Liabilities: Other	1		4		10		34
Current maturities of long-term debt	11		34		3		8
Long-Term Debt	203		663		208		680

CRC | VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table shows the gross and net receivables sold.


	Duke Energy Ohio				Duke Energy Indiana
(in millions)	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Receivables sold	$	—	$	361	$	—	$	351
Less: Retained interests	—		150		—		208
Net receivables sold	$	—	$	211	$	—	$	143

The following table shows sales and cash flows related to receivables sold and reflects CRC activity prior to its termination in March 2024.


		Duke Energy Ohio					Duke Energy Indiana
	Three Months Ended					Three Months Ended
	March 31,					March 31,
(in millions)		2024		2023				2024		2023
Sales
Receivables sold		$	474	$	725			$	473	$	942
Loss recognized on sale		7		9				6		10
Cash flows
Cash proceeds from receivables sold		$	478	$	750			$	523	$	1,028

Return received on retained interests		4		6				4		8

DEF ProCo | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

The following table summarizes the impact of this VIE on Duke Energy Florida's Consolidated Balance Sheets.


(in millions)	March 31, 2024		December 31, 2023
Inventory	$	470	$	462
Accounts Payable	179		188

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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