Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

GOODWILL

Duke Energy

The following table presents goodwill by reportable segment for Duke Energy included on Duke Energy's Consolidated Balance Sheets at December 31, 2020, and 2019.

	Electric Utilities		Gas Utilities		Commercial
(in millions)	and Infrastructure		and Infrastructure		Renewables		Total
Goodwill Balance at December 31, 2019	$	17,379	$	1,924	$	122	$	19,425
Accumulated impairment charges	—		—		(122)		(122)
Goodwill balance at December 31, 2019, adjusted for accumulated impairment charges	$	17,379	$	1,924	$	—	$	19,303
Goodwill Balance at December 31, 2020	$	17,379	$	1,924	$	122	$	19,425
Accumulated impairment charges	—		—		(122)		(122)
Goodwill balance at December 31, 2020, adjusted for accumulated impairment charges	$	17,379	$	1,924	$	—	$	19,303

(a)    Duke Energy evaluated the recoverability of goodwill during 2018 and 2017 and recorded impairment charges of $93 million and $29 million, respectively, related to the Commercial Renewables reporting unit included in Impairment charges on Duke Energy's Consolidated Statements of Operations. The fair value of the reporting unit was determined based on the income approach and market approach in 2018 and 2017, respectively. See "Goodwill Impairment Testing" below for the results of the 2020 goodwill impairment test.

Duke Energy Ohio

Duke Energy Ohio's Goodwill balance of $920 million, allocated $596 million to Electric Utilities and Infrastructure and $324 million to Gas Utilities and Infrastructure, is presented net of accumulated impairment charges of $216 million on the Consolidated Balance Sheets at December 31, 2020, and 2019.

Progress Energy

Progress Energy's Goodwill is included in the Electric Utilities and Infrastructure segment and there are no accumulated impairment charges.

Piedmont

Piedmont's Goodwill is included in the Gas Utilities and Infrastructure segment and there are no accumulated impairment charges.

Goodwill Impairment Testing

Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont are required to perform an annual goodwill impairment test as of the same date each year and, accordingly, perform their annual impairment testing of goodwill as of August 31. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont update their test between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. As the fair value for Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont exceeded their respective carrying values at the date of the annual impairment analysis, no goodwill impairment charges were recorded in 2020.

INTANGIBLE ASSETS

The following tables show the carrying amount and accumulated amortization of intangible assets included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2020, and 2019.

	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Emission allowances	$	8	$	—	$	5	$	2	$	3	$	—	$	2	$	—
Renewable energy certificates	196		65		130		130		—		1		—		—
Natural gas, coal and power contracts	24		—		—		—		—		—		24		—
Renewable operating and development projects	107		—		—		—		—		—		—		—
Other	20		—		—		—		—		—		—		—
Total gross carrying amounts	355		65		135		132		3		1		26		—
Accumulated amortization – natural gas, coal and power contracts	(23)		—		—		—		—		—		(23)		—
Accumulated amortization – renewable operating and development projects	(34)		—		—		—		—		—		—		—
Accumulated amortization – other	(3)		—		—		—		—		—		—		—
Total accumulated amortization	(60)		—		—		—		—		—		(23)		—
Total intangible assets, net	$	295	$	65	$	135	$	132	$	3	$	1	$	3	$	—

	December 31, 2019
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Emission allowances	$	18	$	—	$	5	$	2	$	3	$	—	$	12	$	—
Renewable energy certificates	172		53		118		118		—		1		—		—
Natural gas, coal and power contracts	24		—		—		—		—		—		24		—
Renewable operating and development projects	89		—		—		—		—		—		—		—
Other	2		—		—		—		—		—		—		—
Total gross carrying amounts	305		53		123		120		3		1		36		—
Accumulated amortization – natural gas, coal and power contracts	(21)		—		—		—		—		—		(21)		—
Accumulated amortization – renewable operating and development projects	(34)		—		—		—		—		—		—		—
Accumulated amortization – other	(1)		—		—		—		—		—		—		—
Total accumulated amortization	(56)		—		—		—		—		—		(21)		—
Total intangible assets, net	$	249	$	53	$	123	$	120	$	3	$	1	$	15	$	—

Amortization Expense

Amortization expense amounts for natural gas, coal and power contracts, renewable operating projects and other intangible assets are immaterial for the years ended December 31, 2020, 2019 and 2018, and are expected to be immaterial for the next five years as of December 31, 2020.