Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

DUKE ENERGY

Quarterly EPS amounts may not sum to the full-year total due to changes in the weighted average number of common shares outstanding and rounding.



	First		Second			Third		Fourth
(in millions, except per share data)	Quarter		Quarter			Quarter		Quarter			Total
2019
Operating revenues	$	6,163	$	5,873		$	6,940	$	6,103		$	25,079
Operating income	1,373		1,298			1,929		1,109			5,709
Income from continuing operations	893		748			1,323		614			3,578
Loss from discontinued operations, net of tax	—		—			—		(7		)	(7		)
Net income	893		748			1,323		607			3,571
Net income available to Duke Energy Corporation common stockholders	900		820			1,327		660			3,707
Earnings per share:
Income from continuing operations available to Duke Energy Corporation common stockholders
Basic and diluted	$	1.24	$	1.12		$	1.82	$	0.89		$	5.07
Loss from discontinued operations attributable to Duke Energy Corporation common stockholders
Basic and diluted	$	—	$	—		$	—	$	(0.01	)	$	(0.01	)
Net income available to Duke Energy Corporation common stockholders
Basic and diluted	$	1.24	$	1.12		$	1.82	$	0.88		$	5.06
2018
Operating revenues	$	6,135	$	5,643		$	6,628	$	6,115		$	24,521
Operating income	1,256		979			1,579		871			4,685
Income from continuing operations	622		507			1,062		434			2,625
(Loss) Income from discontinued operations, net of tax	—		(5		)	4		20			19
Net income	622		502			1,066		454			2,644
Net income attributable to Duke Energy Corporation	620		500			1,082		464			2,666
Earnings per share:
Income from continuing operations attributable to Duke Energy Corporation common stockholders
Basic and diluted	$	0.88	$	0.72		$	1.51	$	0.62		$	3.73
(Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders
Basic and diluted	$	—	$	(0.01	)	$	—	$	0.03		$	0.03
Net income attributable to Duke Energy Corporation common stockholders
Basic and diluted	$	0.88	$	0.71		$	1.51	$	0.65		$	3.76

The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax.



	First			Second			Third			Fourth
(in millions)	Quarter			Quarter			Quarter			Quarter			Total
2019
Impairment Charges (see Notes 4 and 13)	$	—		$	—		$	25		$	(14	)	$	11
Total	$	—		$	—		$	25		$	(14	)	$	11
2018
Costs to Achieve Piedmont Merger (see Note 2)	$	(17	)	$	(20	)	$	(16	)	$	(31	)	$	(84	)
Regulatory and Legislative Impacts (see Note 4)	(86		)	(179		)	—			—			(265		)
Sale of Retired Plant (see Note 3)	(107		)	—			—			—			(107		)
Impairment Charges (see Notes 4, 12 and 13)	(55		)	—			(93		)	(60		)	(208		)
Severance Charges (see Note 21)	—			—			—			(187		)	(187		)
Impacts of the Tax Act (see Note 24)	(76		)	—			3			53			(20		)
Total	$	(341	)	$	(199	)	$	(106	)	$	(225	)	$	(871	)

DUKE ENERGY CAROLINAS



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2019
Operating revenues	$	1,744	$	1,713	$	2,162	$	1,776	$	7,395
Operating income	435		451		793		347		2,026
Net income	293		301		590		219		1,403
2018
Operating revenues	$	1,763	$	1,672	$	2,090	$	1,775	$	7,300
Operating income	482		224		713		241		1,660
Net income	323		117		496		135		1,071

The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.



	First			Second			Third			Fourth
(in millions)	Quarter			Quarter			Quarter			Quarter			Total
2018
Costs to Achieve Piedmont Merger (see Note 2)	$	(4	)	$	(2	)	$	(2	)	$	(1	)	$	(9	)
Regulatory and Legislative Impacts (see Note 4)	(19		)	(179		)	—			—			(198		)
Severance Charges (see Note 21)	—			—			—			(102		)	(102		)
Impacts of the Tax Act (see Note 24)	—			—			(1		)	—			(1		)
Total	$	(23	)	$	(181	)	$	(3	)	$	(103	)	$	(310	)

PROGRESS ENERGY



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2019
Operating revenues	$	2,572	$	2,744	$	3,242	$	2,644	$	11,202
Operating income	488		580		786		447		2,301
Net income	248		329		521		229		1,327
Net income attributable to Parent	249		328		521		229		1,327
2018
Operating revenues	$	2,576	$	2,498	$	3,045	$	2,609	$	10,728
Operating income	447		484		663		334		1,928
Net income	237		267		406		123		1,033
Net income attributable to Parent	235		265		404		123		1,027

The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax.



	First			Second			Third			Fourth
(in millions)	Quarter			Quarter			Quarter			Quarter			Total
2019
Impairment Charges (see Note 4)	$	—		$	—		$	25		$	11		$	36
Total	$	—		$	—		$	25		$	11		$	36
2018
Costs to Achieve Piedmont Merger (see Note 2)	$	(4	)	$	(3	)	$	(1	)	$	(2	)	$	(10	)
Regulatory and Legislative Impacts (see Note 4)	(67		)	—			—			—			(67		)
Impairment Charges (see Note 4)	—			—			—			(60		)	(60		)
Severance Charges (see Note 21)	—			—			—			(69		)	(69		)
Impacts of the Tax Act (see Note 24)	(1		)	—			(5		)	(19		)	(25		)
Total	$	(72	)	$	(3	)	$	(6	)	$	(150	)	$	(231	)

DUKE ENERGY PROGRESS



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2019
Operating revenues	$	1,484	$	1,387	$	1,688	$	1,398	$	5,957
Operating income	300		259		373		236		1,168
Net income	203		169		278		155		805
2018
Operating revenues	$	1,460	$	1,291	$	1,582	$	1,366	$	5,699
Operating income	269		233		330		227		1,059
Net income	177		139		216		135		667



	First			Second			Third			Fourth
(in millions)	Quarter			Quarter			Quarter			Quarter			Total
2018
Costs to Achieve Piedmont Merger (see Note 2)	$	(2	)	$	(2	)	$	(1	)	$	(1	)	$	(6	)
Regulatory and Legislative Impacts (see Note 4)	(67		)	—			—			—			(67		)
Severance Charges (see Note 21)	—			—			—			(52		)	(52		)
Impacts of the Tax Act (see Note 24)	—			—			(4		)	(15		)	(19		)
Total	$	(69	)	$	(2	)	$	(5	)	$	(68	)	$	(144	)

DUKE ENERGY FLORIDA



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2019
Operating revenues	$	1,086	$	1,353	$	1,548	$	1,244	$	5,231
Operating income	188		321		413		205		1,127
Net income	96		201		289		106		692
2018
Operating revenues	$	1,115	$	1,203	$	1,462	$	1,241	$	5,021
Operating income	173		245		331		107		856
Net income	103		168		243		40		554

The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax.



	First			Second			Third			Fourth
(in millions)	Quarter			Quarter			Quarter			Quarter			Total
2019
Impairment Charges (see Note 4)	$	—		$	—		$	25		$	11		$	36
Total	$	—		$	—		$	25		$	11		$	36
2018
Costs to Achieve Piedmont Merger (see Note 2)	$	(2	)	$	(1	)	$	—		$	(1	)	$	(4	)
Impairment Charges (see Note 4)	—			—			—			(60		)	(60		)
Severance Charges (see Note 21)	—			—			—			(17		)	(17		)
Impacts of the Tax Act (see Note 24)	—			—			(2		)	2			—
Total	$	(2	)	$	(1	)	$	(2	)	$	(76	)	$	(81	)

DUKE ENERGY OHIO



	First			Second		Third		Fourth
(in millions)	Quarter			Quarter		Quarter		Quarter		Total
2019
Operating revenues	$	531		$	433	$	489	$	487	$	1,940
Operating income	104			74		108		78		364
Net income	69			47		74		48		238
2018
Operating revenues	$	524		$	459	$	469	$	505	$	1,957
Operating (loss) income	(21		)	77		139		93		288
Net (loss) income	(25		)	46		100		55		176



	First			Second			Third		Fourth
(in millions)	Quarter			Quarter			Quarter		Quarter			Total
2018
Costs to Achieve Piedmont Merger (see Note 2)	$	(3	)	$	(5	)	$	—	$	(6	)	$	(14	)
Sale of Retired Plant (see Note 3)	(107		)	—			—		—			(107		)
Severance Charges (see Note 21)	—			—			—		(6		)	(6		)
Impacts of the Tax Act (see Note 24)	—			—			—		(2		)	(2		)
Total	$	(110	)	$	(5	)	$	—	$	(14	)	$	(129	)

DUKE ENERGY INDIANA



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2019
Operating revenues	$	768	$	714	$	807	$	715	$	3,004
Operating income	169		148		235		133		685
Net income	110		97		156		73		436
2018
Operating revenues	$	731	$	738	$	819	$	771	$	3,059
Operating income	168		169		173		133		643
Net income	100		98		119		76		393



	First		Second		Third			Fourth
(in millions)	Quarter		Quarter		Quarter			Quarter			Total
2018
Costs to Achieve Piedmont Merger (see Note 2)	$	—	$	—	$	(2	)	$	—		$	(2	)
Severance Charges (see Note 21)	—		—		—			(7		)	(7		)
Total	$	—	$	—	$	(2	)	$	(7	)	$	(9	)

PIEDMONT



	First		Second			Third			Fourth
(in millions)	Quarter		Quarter			Quarter			Quarter		Total
2019
Operating revenues	$	579	$	209		$	168		$	425	$	1,381
Operating income (loss)	172		6			(13		)	139		304
Net income (loss)	122		(7		)	(18		)	105		202
2018
Operating revenues	$	553	$	215		$	172		$	435	$	1,375
Operating income (loss)	161		5			(19		)	79		226
Net income (loss)	110		(8		)	(21		)	48		129



	First			Second			Third			Fourth
(in millions)	Quarter			Quarter			Quarter			Quarter			Total
2018
Costs to Achieve Piedmont Merger (see Note 2)	$	(6	)	$	(9	)	$	(11	)	$	(22	)	$	(48	)
Severance Charges (see Note 21)	—			—			—			(2		)	(2		)
Total	$	(6	)	$	(9	)	$	(11	)	$	(24	)	$	(50	)