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Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating Revenues        
Regulated electric $ 6,315 $ 6,515 $ 16,402 $ 17,223
Regulated natural gas 214 223 1,115 1,231
Nonregulated electric and other 192 202 574 522
Total operating revenues 6,721 6,940 18,091 18,976
Operating Expenses        
Operation, maintenance and other 1,450 1,484 4,142 4,337
Depreciation and amortization 1,217 1,186 3,497 3,364
Property and other taxes 324 335 1,003 1,012
Impairment charges 28 (20) 36 (16)
Total operating expenses 4,909 5,011 13,622 14,376
Gains on Sales of Other Assets and Other, net 2   10  
Operating Income 1,814 1,929 4,479 4,600
Other Income and Expenses        
Equity in (losses) earnings of unconsolidated affiliates (80) 50 (2,004) 137
Other income and expenses, net 127 104 310 308
Total other income and expenses 47 154 (1,694) 445
Interest Expense 522 572 1,627 1,657
Income Before Income Taxes 1,339 1,511 1,158 3,388
Income Tax Expense (Benefit) 105 188 (74) 424
Net Income 1,234 1,323 1,232 2,964
Less: Net Income Attributable to Noncontrolling Interests (70) (19) (208) (110)
Net income (attributable to parent) 1,304 1,342 1,440 3,074
Less: Preferred Dividends 39 15 93 27
Net Income Available to Duke Energy Corporation Common Stockholders 1,265 1,327 1,347 3,047
Other Comprehensive Income (Loss), net of tax        
Pension and OPEB adjustments [1] 1 (2) 1 1
Net unrealized (losses) gains on cash flow hedges [1] (83) (16) (159) (62)
Unrealized gains on available-for-sale securities [1] (2) 2 5 10
Other Comprehensive Loss, net of tax [1] (80) (15) (145) (47)
Comprehensive Income 1,154 1,308 1,087 2,917
Less: Comprehensive Income Attributable to Noncontrolling Interests (70) (19) (220) (110)
Comprehensive Income Attributable to Duke Energy $ 1,224 $ 1,327 $ 1,307 $ 3,027
Net income attributable to Duke Energy Corporation common stockholders        
Basic and Diluted (in usd per share) $ 1.74 $ 1.82 $ 1.85 $ 4.18
Weighted Average Shares Outstanding        
Basic and Diluted (in shares) 735 729 735 728
Duke Energy Carolinas        
Operating Revenues        
Total operating revenues $ 2,058 $ 2,162 $ 5,416 $ 5,619
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas 497 504 1,326 1,371
Operation, maintenance and other 402 443 1,218 1,324
Depreciation and amortization 372 350 1,090 1,013
Property and other taxes 57 66 213 221
Impairment charges 20 6 22 11
Total operating expenses 1,348 1,369 3,869 3,940
Gains on Sales of Other Assets and Other, net 1   1  
Operating Income 711 793 1,548 1,679
Other Income and Expenses        
Total other income and expenses 42 34 128 106
Interest Expense 122 119 370 346
Income Before Income Taxes 631 708 1,306 1,439
Income Tax Expense (Benefit) 76 118 178 255
Net income (attributable to parent) 555 590 1,128 1,184
Other Comprehensive Income (Loss), net of tax        
Comprehensive Income Attributable to Duke Energy 555 590 1,128 1,184
Progress Energy        
Operating Revenues        
Total operating revenues 3,197 3,242 8,117 8,558
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas 1,088 1,187 2,628 3,100
Operation, maintenance and other 646 640 1,789 1,813
Depreciation and amortization 472 496 1,356 1,377
Property and other taxes 147 159 419 439
Impairment charges 1 (25) 1 (25)
Total operating expenses 2,354 2,457 6,193 6,704
Gains on Sales of Other Assets and Other, net 3 1 9  
Operating Income 846 786 1,933 1,854
Other Income and Expenses        
Total other income and expenses 24 41 89 106
Interest Expense 194 212 599 650
Income Before Income Taxes 676 615 1,423 1,310
Income Tax Expense (Benefit) 70 94 190 212
Net Income 606 521 1,233 1,098
Less: Net Income Attributable to Noncontrolling Interests 1 0 1 0
Net income (attributable to parent) 605 521 1,232 1,098
Other Comprehensive Income (Loss), net of tax        
Pension and OPEB adjustments     1 2
Net unrealized (losses) gains on cash flow hedges 1 1 3 4
Unrealized gains on available-for-sale securities 1 1 1 2
Other Comprehensive Loss, net of tax 2 2 5 8
Comprehensive Income 608 523 1,238 1,106
Less: Comprehensive Income Attributable to Noncontrolling Interests 1   1 0
Comprehensive Income Attributable to Duke Energy 607 523 1,237 1,106
Duke Energy Progress        
Operating Revenues        
Total operating revenues 1,626 1,688 4,207 4,559
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas 537 577 1,337 1,571
Operation, maintenance and other 348 378 970 1,070
Depreciation and amortization 289 314 833 855
Property and other taxes 38 46 129 131
Impairment charges 5   5  
Total operating expenses 1,217 1,315 3,274 3,627
Gains on Sales of Other Assets and Other, net 3   8  
Operating Income 412 373 941 932
Other Income and Expenses        
Total other income and expenses 11 27 52 75
Interest Expense 66 74 203 232
Income Before Income Taxes 357 326 790 775
Income Tax Expense (Benefit) 11 48 79 125
Net income (attributable to parent) 346 278 711 650
Other Comprehensive Income (Loss), net of tax        
Comprehensive Income Attributable to Duke Energy 346 278 711 650
Duke Energy Florida        
Operating Revenues        
Total operating revenues 1,567 1,548 3,897 3,987
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas 551 610 1,291 1,529
Operation, maintenance and other 292 256 806 730
Depreciation and amortization 183 182 523 522
Property and other taxes 110 113 290 309
Impairment charges (4) (25) (4) (25)
Total operating expenses 1,132 1,136 2,906 3,065
Gains on Sales of Other Assets and Other, net   1    
Operating Income 435 413 991 922
Other Income and Expenses        
Total other income and expenses 11 14 36 39
Interest Expense 81 81 245 246
Income Before Income Taxes 365 346 782 715
Income Tax Expense (Benefit) 78 57 159 129
Net income (attributable to parent) 287 289 623 586
Other Comprehensive Income (Loss), net of tax        
Unrealized gains on available-for-sale securities 1 1 1 2
Other Comprehensive Loss, net of tax 1 1 1 2
Comprehensive Income Attributable to Duke Energy 288 290 624 588
Duke Energy Ohio        
Operating Revenues        
Regulated electric 394 408 1,070 1,099
Regulated natural gas 79 81 324 354
Total operating revenues 473 489 1,394 1,453
Operating Expenses        
Operation, maintenance and other 115 123 333 378
Depreciation and amortization 72 69 208 199
Property and other taxes 83 71 244 229
Total operating expenses 367 381 1,089 1,167
Operating Income 106 108 305 286
Other Income and Expenses        
Total other income and expenses 4 4 11 19
Interest Expense 26 27 75 81
Income Before Income Taxes 84 85 241 224
Income Tax Expense (Benefit) 14 11 40 34
Net income (attributable to parent) 70 74 201 190
Other Comprehensive Income (Loss), net of tax        
Comprehensive Income Attributable to Duke Energy 70 74 201 190
Duke Energy Indiana        
Operating Revenues        
Total operating revenues 761 807 2,070 2,289
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas 222 234 577 720
Operation, maintenance and other 207 192 564 569
Depreciation and amortization 149 130 415 393
Property and other taxes 15 16 57 55
Total operating expenses 593 572 1,613 1,737
Operating Income 168 235 457 552
Other Income and Expenses        
Total other income and expenses 9 8 28 35
Interest Expense 29 40 114 111
Income Before Income Taxes 148 203 371 476
Income Tax Expense (Benefit) 29 47 72 113
Net income (attributable to parent) 119 156 299 363
Other Comprehensive Income (Loss), net of tax        
Comprehensive Income Attributable to Duke Energy 119 156 299 363
Piedmont Natural Gas        
Operating Revenues        
Total operating revenues 162 168 871 956
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas 39 46 254 384
Operation, maintenance and other 75 78 234 241
Depreciation and amortization 45 43 133 127
Property and other taxes 13 14 37 39
Impairment charges 7   7  
Total operating expenses 179 181 665 791
Operating Income (17) (13) 206 165
Other Income and Expenses        
Equity in (losses) earnings of unconsolidated affiliates     7 6
Total other income and expenses 16 7 44 19
Interest Expense 29 22 89 65
Income Before Income Taxes (30) (28) 161 119
Income Tax Expense (Benefit) (5) (10) 6 22
Net income (attributable to parent) (25) (18) 155 97
Other Comprehensive Income (Loss), net of tax        
Comprehensive Income Attributable to Duke Energy (25) (18) 155 97
Fuel used in electric generation and purchased power        
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas 1,849 1,978 4,645 5,228
Fuel used in electric generation and purchased power | Duke Energy Ohio        
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas 94 114 258 293
Cost of natural gas        
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas 41 48 299 451
Cost of natural gas | Duke Energy Ohio        
Operating Expenses        
Fuel used in electric generation and purchased power/Cost of natural gas $ 3 $ 4 $ 46 $ 68
[1]
Net of income tax impacts of approximately $24 million for the three months ended September 30, 2020, and $43 million and $14 million for the nine months ended September 30, 2020, and 2019, respectively. All other periods presented include immaterial income tax impacts.