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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment PROPERTY, PLANT AND EQUIPMENT
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
December 31, 2021
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,162 $543 $957 $482 $475 $219 $122 $279 
Plant – Regulated
Electric generation, distribution and transmission 40120,855 44,910 53,447 32,417 21,030 6,573 15,925 — 
Natural gas transmission and distribution 5412,079 — — — — 3,347 — 8,732 
Other buildings and improvements 371,921 550 514 228 286 381 321 155 
Plant – Nonregulated  
Electric generation, distribution and transmission287,104 — — — — — — — 
Other buildings and improvements 11401 — — — — — — — 
Nuclear fuel 3,181 1,856 1,325 1,325 — — — — 
Equipment 132,659 614 791 497 294 403 262 122 
Construction in process 6,168 2,078 2,297 954 1,343 515 460 262 
Other145,289 1,323 1,563 1,115 437 287 253 368 
Total property, plant and equipment(a)(e)
161,819 51,874 60,894 37,018 23,865 11,725 17,343 9,918 
Total accumulated depreciation – regulated(b)(c)
(47,611)(17,854)(19,214)(13,387)(5,819)(3,106)(5,583)(1,899)
Total accumulated depreciation – nonregulated(d)(e)
(2,944)— — — — — — — 
Facilities to be retired, net144 102 26 26 — 6 — 11 
Total net property, plant and equipment $111,408 $34,122 $41,706 $23,657 $18,046 $8,625 $11,760 $8,030 
(a)    Includes finance leases of $958 million, $335 million, $729 million, $627 million, $102 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 $178 million, $45 million and $133 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,799 million, $1,064 million, $735 million and $735 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 $9 million, $33 million and $3 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of ($1 million) at Duke Energy.
(e)    Includes gross property, plant and equipment cost of consolidated VIEs of $7,339 million and accumulated depreciation of consolidated VIEs of $1,474 million at Duke Energy.
Duke Energy continues to execute on its business transformation strategy, including the evaluation of in-office work policies considering the experience with the COVID-19 pandemic and also workforce realignment of roles and responsibilities. In May 2021, Duke Energy management approved the sale of certain properties and entered into an agreement to exit certain leased space on December 31, 2021. The sale of the properties is subject to abandonment accounting and resulted in an impairment charge. Additionally, the exit of the leased space resulted in the impairment of related furniture, fixtures and equipment. During the 12 months ended December 31, 2021, Duke Energy recorded a pretax charge to earnings of $192 million on the Consolidated Statements of Operations, which includes $133 million within Impairment of assets and other charges, $42 million within Operations, maintenance and other and $17 million within Depreciation and amortization.
In 2021, Duke Energy continued to monitor recoverability of its renewable merchant plants located in the Electric Reliability Council of Texas West market and in the PJM West market due to fluctuating market pricing and long-term forecasted energy prices. The assets were not impaired as of December 31, 2021, because the carrying value of approximately $200 million continues to approximate the aggregate estimated future undiscounted cash flows. A continued decline in energy market pricing or other factors unfavorably impacting the economics would likely result in a future impairment. Duke Energy retained 51% ownership interest in these facilities following the 2019 transaction to sell a minority interest in certain renewable assets. See Note 1 for further information.
December 31, 2020
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,046 $536 $908 $463 $445 $171 $118 $279 
Plant – Regulated
Electric generation, distribution and transmission 39117,107 44,059 50,785 31,375 19,410 6,255 16,008 — 
Natural gas transmission and distribution 5410,799 — — — — 3,136 — 7,663 
Other buildings and improvements 362,038 740 459 197 262 374 300 165 
Plant – Nonregulated
Electric generation, distribution and transmission275,444 — — — — — — — 
Other buildings and improvements 10519 — — — — — — — 
Nuclear fuel 3,284 1,837 1,447 1,447 — — — — 
Equipment 152,608 620 759 498 261 385 238 122 
Construction in process 6,645 1,645 2,013 709 1,304 407 409 581 
Other145,090 1,203 1,521 1,070 441 294 309 324 
Total property, plant and equipment(a)(e)
155,580 50,640 57,892 35,759 22,123 11,022 17,382 9,134 
Total accumulated depreciation – regulated(b)(c)
(46,216)(17,453)(18,368)(12,801)(5,560)(3,013)(5,661)(1,749)
Total accumulated depreciation – nonregulated(d)(e)
(2,611)— — — — — — — 
Facilities to be retired, net29 — 29 29 — — — — 
Total net property, plant and equipment $106,782 $33,187 $39,553 $22,987 $16,563 $8,009 $11,721 $7,385 
(a)    Includes finance leases of $832 million, $335 million, $416 million, $297 million, $119 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 $141 million, $24 million and $117 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,832 million, $1,010 million, $822 million and $822 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 $12 million, $23 million, and $3 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $23 million at Duke Energy.
(e)    Includes gross property, plant and equipment cost of consolidated VIEs of $6,394 million and accumulated depreciation of consolidated VIEs of $1,242 million at Duke Energy.
The following table presents capitalized interest, which includes the debt component of AFUDC.
Years Ended December 31,
(in millions)202120202019
Duke Energy$72 $112 $159 
Duke Energy Carolinas29 28 30 
Progress Energy20 17 31 
Duke Energy Progress14 12 28 
Duke Energy Florida6 5 3 
Duke Energy Ohio20 26 22 
Duke Energy Indiana(a)
(17)10 26 
Piedmont9 8 26 
(a)    Duke Energy Indiana is primarily compromised of ($24 million) of PISCC amortization, which is partially offset by $7 million of the debt component of AFUDC.