Business Segments

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

Duke Energy

Duke Energy's segment structure includes the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure segment primarily includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. The Gas Utilities and Infrastructure segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky, and Duke Energy's natural gas storage and midstream pipeline investments.

The Commercial Renewables segment is primarily comprised of nonregulated utility-scale wind and solar generation assets located throughout the U.S. In 2020, Duke Energy evaluated recoverability of a renewable merchant plant located in the Electric Reliability Council of Texas West market due to declining market pricing and declining long-term forecasted energy prices, primarily driven by lower forecasted natural gas prices. Duke Energy determined that the asset was not impaired because the carrying value of $155 million approximates the aggregate estimated future cash flows and therefore further testing was not required. A continued decline in energy market pricing would likely result in a future impairment. Duke Energy retained 51% ownership interest in this facility following the 2019 transaction to sell a minority interest in certain renewable assets.

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 interest in National Methanol Company.

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

	Three Months Ended June 30, 2020
	Electric		Gas					Total
	Utilities and		Utilities and			Commercial		Reportable
(in millions)	Infrastructure		Infrastructure			Renewables		Segments			Other			Eliminations			Total
Unaffiliated revenues	$	5,026	$	265		$	123	$	5,414		$	7		$	—		$	5,421
Intersegment revenues	8		24			—		32			19			(51		)	—
Total revenues	$	5,034	$	289		$	123	$	5,446		$	26		$	(51	)	$	5,421
Segment income (loss)(a)	$	753	$	(1,576	)	$	90	$	(733	)	$	(84	)	$	—		$	(817	)
Less: Noncontrolling interests(c)																	90
Add: Preferred stock dividend																	15
Net Loss																	$	(892	)
Segment assets	$	136,724	$	13,072		$	6,386	$	156,182		$	3,874		$	(7	)	$	160,049

	Three Months Ended June 30, 2019
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other			Eliminations			Total
Unaffiliated revenues	$	5,467	$	282	$	118	$	5,867	$	6		$	—		$	5,873
Intersegment revenues	8		24		—		32		19			(51		)	—
Total revenues	$	5,475	$	306	$	118	$	5,899	$	25		$	(51	)	$	5,873
Segment income (loss)	$	809	$	40	$	86	$	935	$	(115	)	$	—		$	820
Less: Noncontrolling interests(c)															84
Add: Preferred stock dividend															12
Net Income															$	748

	Six Months Ended June 30, 2020
	Electric		Gas					Total
	Utilities and		Utilities and			Commercial		Reportable
(in millions)	Infrastructure		Infrastructure			Renewables		Segments		Other			Eliminations			Total
Unaffiliated revenues	$	10,200	$	905		$	252	$	11,357	$	13		$	—		$	11,370
Intersegment revenues	17		48			—		65		36			(101		)	—
Total revenues	$	10,217	$	953		$	252	$	11,422	$	49		$	(101	)	$	11,370
Segment income (loss)(a)(b)	$	1,458	$	(1,327	)	$	147	$	278	$	(196	)	$	—		$	82
Less: Noncontrolling interests(c)																138
Add: Preferred stock dividend																54
Net Loss																$	(2	)

	Six Months Ended June 30, 2019
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other			Eliminations			Total
Unaffiliated revenues	$	10,788	$	1,014	$	224	$	12,026	$	10		$	—		$	12,036
Intersegment revenues	16		48		—		64		36			(100		)	—
Total revenues	$	10,804	$	1,062	$	224	$	12,090	$	46		$	(100	)	$	12,036
Segment income (loss)	$	1,559	$	266	$	99	$	1,924	$	(204	)	$	—		$	1,720
Less: Noncontrolling interests(c)															91
Add: Preferred stock dividend															12
Net Income															$	1,641

(a) Gas Utilities and Infrastructure includes $2.0 billion of pretax costs related to the abandonment of its ACP investment recorded within Equity in (losses) earnings of unconsolidated affiliates on the Condensed Consolidated Statements of Operations. See Notes 1, 3 and Note 11 for additional information.

(b) Other includes a $98 million reversal, included in Operations, maintenance and other on the Condensed Consolidated Statements of Operations, of 2018 severance costs due to the partial settlement of the Duke Energy Carolina's 2019 North Carolina rate case. See Note 3 for additional information.

(c)

Includes the allocation of losses to noncontrolling tax equity members. See Note 1 for additional information.

Duke Energy Ohio

Duke Energy Ohio has two reportable segments, Electric Utilities and Infrastructure and Gas Utilities and Infrastructure. The remainder of Duke Energy Ohio's operations is presented as Other.

	Three Months Ended June 30, 2020
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other			Eliminations			Total
Total revenues	$	330	$	93	$	423	$	—		$	—		$	423
Segment income/Net (loss) income	$	44	$	23	$	67	$	(1	)	$	—		$	66
Segment assets	$	6,378	$	3,213	$	9,591	$	26		$	(8	)	$	9,609

	Three Months Ended June 30, 2019
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other			Total
Total revenues	$	336	$	97	$	433	$	—		$	433
Segment income/Net (loss) income	$	31	$	17	$	48	$	(1	)	$	47

	Six Months Ended June 30, 2020
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other			Total
Total revenues	$	676	$	245	$	921	$	—		$	921
Segment income/Net (loss) income	$	74	$	59	$	133	$	(2	)	$	131

	Six Months Ended June 30, 2019
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other			Total
Total revenues	$	691	$	273	$	964	$	—		$	964
Segment income/Net (loss) income	$	67	$	52	$	119	$	(3	)	$	116