Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease Costs and Cash Flows Information

The following tables present the components of lease expense.

	Year Ended December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Operating lease expense(a)	$	283	$	53	$	162	$	72	$	90	$	11	$	19	$	7
Short-term lease expense(a)	4		—		2		1		1		—		1		—
Variable lease expense(a)	30		13		13		5		8		—		1		1
Finance lease expense
Amortization of leased assets(b)	119		8		24		6		18		—		1		—
Interest on lease liabilities(c)	61		30		44		37		7		—		—		—
Total finance lease expense	180		38		68		43		25		—		1		—
Total lease expense	$	497	$	104	$	245	$	121	$	124	$	11	$	22	$	8

(a)    Included in Operations, maintenance and other or, for barges and railcars, Fuel used in electric generation and purchased power on the Consolidated Statements of Operations.

(b)    Included in Depreciation and amortization on the Consolidated Statements of Operations.

(c)    Included in Interest Expense on the Consolidated Statements of Operations.

	Year Ended 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
Operating lease expense(a)	$	292	$	47	$	161	$	69	$	92	$	11	$	20	$	5
Short-term lease expense(a)	16		5		9		4		5		1		2		—
Variable lease expense(a)	47		22		22		16		6		—		1		1
Finance lease expense
Amortization of leased assets(b)	111		6		21		5		16		1		—		—
Interest on lease liabilities(c)	61		15		42		33		9		—		1		—
Total finance lease expense	172		21		63		38		25		1		1		—
Total lease expense	$	527	$	95	$	255	$	127	$	128	$	13	$	24	$	6

(a)    Included in Operations, maintenance and other or, for barges and railcars, Fuel used in electric generation and purchased power on the Consolidated Statements of Operations.

(b)    Included in Depreciation and amortization on the Consolidated Statements of Operations.

(c)    Included in Interest Expense on the Consolidated Statements of Operations.

	Year Ended December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases	$	271	$	31	$	124	$	52	$	72	$	2	$	6	$	5
Operating cash flows from finance leases	61		30		44		37		7		—		—		—
Financing cash flows from finance leases	119		8		24		6		18		—		1		—
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating(b)	$	116	$	17	$	—	$	—	$	—	$	—	$	1	$	—
Finance	125		125		—		—		—		—		—		—

(a)    No amounts were classified as investing cash flows from operating leases for the year ended December 31, 2020.

(b)    Does not include ROU assets recorded as a result of the adoption of the new lease standard.

	Year Ended 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
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases	$	285	$	34	$	131	$	53	$	78	$	2	$	7	$	7
Operating cash flows from finance leases	61		15		42		33		9		—		1		—
Financing cash flows from finance leases	111		6		21		5		16		1		—		—
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating(b)	$	194	$	44	$	30	$	30	$	—	$	—	$	—	$	1
Finance	251		76		175		175		—		—		—		—

(a)    No amounts were classified as investing cash flows from operating leases for the year ended December 31, 2019.

(b)    Does not include ROU assets recorded as a result of the adoption of the new lease standard.

Schedule of Rent Expense

The following table presents rental expense for operating leases, as reported under the former lease standard. These amounts are included in Operation, maintenance and other and Fuel used in electric generation and purchased power on the Consolidated Statements of Operations.

	Year Ended
(in millions)	December 31, 2018
Duke Energy	$	268
Duke Energy Carolinas	49
Progress Energy	143
Duke Energy Progress	75
Duke Energy Florida	68
Duke Energy Ohio	13
Duke Energy Indiana	21
Piedmont	11

Operating Lease Maturities

The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities.

	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
2021	$	229	$	24	$	99	$	44	$	55	$	2	$	5	$	5
2022	212		22		95		40		55		2		4		5
2023	202		20		95		41		54		2		4		5
2024	186		14		95		41		54		2		4		5
2025	162		10		85		31		54		2		4		5
Thereafter	870		51		376		252		124		20		59		—
Total operating lease payments	1,861		141		845		449		396		30		80		25
Less: present value discount	(344)		(24)		(149)		(95)		(54)		(9)		(24)		(2)
Total operating lease liabilities(a)	$	1,517	$	117	$	696	$	354	$	342	$	21	$	56	$	23

(a)    Certain operating lease payments include renewal options that are reasonably certain to be exercised.

Maturities of Finance Lease Liabilities

The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities.

	December 31, 2020
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Indiana
2021	$	186	$	38	$	68	$	43	$	25	$	1
2022	173		38		68		43		25		1
2023	174		38		68		43		25		1
2024	119		38		52		43		9		1
2025	51		38		48		43		5		1
Thereafter	762		502		481		475		6		26
Total finance lease payments	1,465		692		785		690		95		31
Less: amounts representing interest	(620)		(398)		(408)		(394)		(14)		(21)
Total finance lease liabilities	$	845	$	294	$	377	$	296	$	81	$	10

Balance Sheet Amounts Recorded for Operating and Finance Leases

The following tables contain additional information related to leases.

		December 31, 2020
				Duke				Duke		Duke		Duke		Duke
		Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Classification	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Assets
Operating	Operating lease ROU assets, net	$	1,524	$	110	$	690	$	346	$	344	$	20	$	55	$	20
Finance	Net property, plant and equipment	797		312		416		297		119		—		7		—
Total lease assets		$	2,321	$	422	$	1,106	$	643	$	463	$	20	$	62	$	20
Liabilities
Current
Operating	Other current liabilities	$	177	$	20	$	73	$	31	$	42	$	1	$	3	$	4
Finance	Current maturities of long-term debt	129		5		26		7		19		—		—		—
Noncurrent
Operating	Operating lease liabilities	1,340		97		623		323		300		20		53		19
Finance	Long-Term Debt	716		289		351		289		62		—		10		—
Total lease liabilities		$	2,362	$	411	$	1,073	$	650	$	423	$	21	$	66	$	23

		December 31, 2019
				Duke				Duke		Duke		Duke		Duke
		Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Classification	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Assets
Operating	Operating lease ROU assets, net	$	1,658	$	123	$	788	$	387	$	401	$	21	$	57	$	24
Finance	Net property, plant and equipment	926		198		443		308		135		—		7		—
Total lease assets		$	2,584	$	321	$	1,231	$	695	$	536	$	21	$	64	$	24
Liabilities
Current
Operating	Other current liabilities	$	208	$	27	$	95	$	37	$	58	$	1	$	3	$	4
Finance	Current maturities of long-term debt	119		7		24		6		18		—		—		—
Noncurrent
Operating	Operating lease liabilities	1,432		102		697		354		343		21		55		23
Finance	Long-Term Debt	850		172		381		301		80		—		10		—
Total lease liabilities		$	2,609	$	308	$	1,197	$	698	$	499	$	22	$	68	$	27

Supplemental Lease Information

	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Weighted average remaining lease term (years)
Operating leases	10		9		10		12		8		17		18		5
Finance leases	13		19		15		17		11		—		25		—
Weighted average discount rate(a)
Operating leases	3.8	%	3.4	%	3.8	%	3.9	%	3.8	%	4.2	%	4.2	%	3.6	%
Finance leases	8.4	%	11.6	%	11.9	%	12.4	%	8.2	%	—	%	11.9	%	—	%

(a)    The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets.

	December 31, 2019
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Weighted average remaining lease term (years)
Operating leases	11		9		10		12		8		17		18		6
Finance leases	13		19		16		18		11		—		26		—
Weighted average discount rate(a)
Operating leases	3.9	%	3.5	%	3.8	%	3.9	%	3.8	%	4.2	%	4.1	%	3.6	%
Finance leases	8.1	%	11.8	%	11.9	%	12.4	%	8.3	%	—	%	11.9	%	—	%

(a)    The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets.