Business Segments

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

Duke Energy

Due to Duke Energy's commitment in the fourth quarter of 2022 to sell the Commercial Renewables business segment, Duke Energy's segment structure now includes the following two segments: EU&I and GU&I. Prior period information has been recast to conform to the current segment structure. See Note 2 for further information on the Commercial Renewables Disposal Groups.

The EU&I segment primarily includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. EU&I also includes Duke Energy's electric transmission infrastructure investments and the offshore wind contract for Carolina Long Bay. Refer to Note 2 for further information.

The GU&I segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky and Duke Energy's natural gas storage, midstream pipeline and renewable natural gas investments.

The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs, Duke Energy’s wholly owned captive insurance company, Bison, and Duke Energy's ownership interest in National Methanol Company.

Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.

	Three Months Ended September 30, 2023
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	7,695	$	291	$	7,986	$	8	$	—	$	7,994
Intersegment revenues	20		22		42		25		(67)		—
Total revenues	$	7,715	$	313	$	8,028	$	33	$	(67)	$	7,994
Segment income (loss)(a)	$	1,447	$	15	$	1,462	$	(59)	$	—	$	1,403
Less: Noncontrolling interests											(69)
Add: Preferred stock dividend											39
Discontinued operations											(190)
Net Income											$	1,321
Segment assets(b)	$	155,588	$	16,724	$	172,312	$	8,848	$	—	$	181,160

	Three Months Ended September 30, 2022
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	7,431	$	404	$	7,835	$	7	$	—	$	7,842
Intersegment revenues	8		23		31		23		(54)		—
Total revenues	$	7,439	$	427	$	7,866	$	30	$	(54)	$	7,842
Segment income (loss)	$	1,540	$	4	$	1,544	$	(183)	$	(1)	$	1,360
Less: Noncontrolling interests											9
Add: Preferred stock dividend											39
Discontinued operations											23
Net Income											$	1,413

(a)EU&I includes $95 million recorded within Impairment of assets and other charges and $16 million within Operations, maintenance and other on Duke Energy Carolinas' and Duke Energy Progress' Condensed Consolidated Statement of Operations related primarily to Duke Energy Carolinas' North Carolina rate case settlement and Duke Energy Progress' North Carolina rate case order. See Note 4 for additional information.

(b)Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.

	Nine Months Ended September 30, 2023
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	20,308	$	1,516	$	21,824	$	24	$	—	$	21,848
Intersegment revenues	55		67		122		74		(196)		—
Total revenues	$	20,363	$	1,583	$	21,946	$	98	$	(196)	$	21,848
Segment income (loss)(a)	$	3,088	$	327	$	3,415	$	(388)	$	—	$	3,027
Less: Noncontrolling interests											(42)
Add: Preferred stock dividend											92
Discontinued operations											(1,283)
Net Income											$	1,878

	Nine Months Ended September 30, 2022
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	19,552	$	1,843	$	21,395	$	22	$	—	$	21,417
Intersegment revenues	24		69		93		69		(162)		—
Total revenues	$	19,576	$	1,912	$	21,488	$	91	$	(162)	$	21,417
Segment income (loss)(b)	$	3,237	$	277	$	3,514	$	(480)	$	(2)	$	3,032
Less: Noncontrolling interests											73
Add: Preferred stock dividend											92
Discontinued operations											62
Net Income											$	3,113

Duke Energy Ohio

Duke Energy Ohio has two reportable segments, EU&I and GU&I. The remainder of Duke Energy Ohio's operations is presented as Other.

	Three Months Ended September 30, 2023
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Eliminations		Total
Total revenues	$	472	$	105	$	577	$	—	$	—	$	577
Segment income (loss)/Net income	$	65	$	17	$	82	$	(2)	$	—	$	80
Segment assets	$	7,745	$	4,218	$	11,963	$	10	$	(179)	$	11,794

	Three Months Ended September 30, 2022
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	507	$	121	$	628	$	—	$	628
Segment income (loss)/Net income	$	74	$	30	$	104	$	(1)	$	103

	Nine Months Ended September 30, 2023
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	1,411	$	464	$	1,875	$	—	$	1,875
Segment income (loss)/Net income	$	168	$	87	$	255	$	(4)	$	251

	Nine Months Ended September 30, 2022
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	1,320	$	491	$	1,811	$	—	$	1,811
Segment income (loss)/Net income	$	152	$	87	$	239	$	(3)	$	236