Asset Retirement Obligations (Tables)

9 Months Ended

Sep. 30, 2022

Asset Retirement Obligation [Abstract]

Schedule of Asset Retirement Obligations

The following table presents the AROs recorded on the Condensed Consolidated Balance Sheets.

	September 30, 2022
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Decommissioning of nuclear power facilities(a)	$	7,206	$	2,968	$	4,202	$	3,908	$	294	$	—	$	—	$	—
Closure of ash impoundments	5,293		2,360		1,914		1,885		29		99		919		—
Other	451		65		87		46		41		56		39		23
Total ARO	$	12,950	$	5,393	$	6,203	$	5,839	$	364	$	155	$	958	$	23
Less: Current portion	798		278		311		310		1		23		185		—
Total noncurrent ARO	$	12,152	$	5,115	$	5,892	$	5,529	$	363	$	132	$	773	$	23

(a)Duke Energy amount includes purchase accounting adjustments related to the merger with Progress Energy.

Schedule of Change in Asset Retirement Obligation

The following table presents the change in liability associated with AROs for the Duke Energy Registrants.

			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at December 31, 2021(a)	$	12,776	$	5,301	$	6,112	$	5,675	$	437	$	136	$	987	$	22
Accretion expense(b)	376		180		170		159		11		4		21		1
Liabilities settled(c)	(488)		(163)		(239)		(160)		(79)		(8)		(77)		—
Revisions in estimates of cash flows(d)	286		75		160		165		(5)		23		27		—
Balance at September 30, 2022	$	12,950	$	5,393	$	6,203	$	5,839	$	364	$	155	$	958	$	23

(a)Primarily relates to decommissioning nuclear power facilities, closure of ash impoundments, asbestos removal, closure of landfills at fossil generation facilities, retirement of natural gas mains and removal of renewable energy generation assets.

(b)For the nine months ended September 30, 2022, substantially all accretion expense relates to Duke Energy's regulated operations and has been deferred in accordance with regulatory accounting treatment.

(c)Primarily relates to ash impoundment closures and nuclear decommissioning.

(d)The amounts recorded represent the discounted cash flows for estimated closure costs as evaluated on a site-by-site basis. The increases primarily relate to higher unit costs associated with basin closure, routine maintenance and beneficiation activities, partially offset by lower post closure maintenance costs, a reduction in monitoring wells needed, and higher discount rates applied to future cash flows.