XML 92 R36.htm IDEA: XBRL DOCUMENT v3.20.4
Business Segments (Tables)
 12 Months Ended
Dec. 31, 2020
Segment Reporting Information [Line Items]  
Business Segment Data
Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.
Year Ended December 31, 2020
ElectricGasTotal
Utilities andUtilities andCommercialReportable
(in millions)InfrastructureInfrastructureRenewablesSegmentsOtherEliminationsTotal
Unaffiliated Revenues$21,687 $1,653 $502 $23,842 $26 $— $23,868 
Intersegment Revenues33 95 — 128 71 (199)— 
Total Revenues$21,720 $1,748 $502 $23,970 $97 $(199)$23,868 
Interest Expense$1,320 $135 $66 $1,521 $657 $(16)$2,162 
Depreciation and amortization4,068 258 199 4,525 209 (29)4,705 
Equity in earnings (losses) of unconsolidated affiliates(1)(2,017)— (2,018)13 — (2,005)
Income tax expense (benefit)340 (349)(65)(74)(162)— (236)
Segment income (loss)(a)(b)(c)
2,669 (1,266)286 1,689 (426)— 1,263 
Less noncontrolling interest295 
Add back preferred stock dividend107 
Income from discontinued operations, net of tax7 
Net income$1,082 
Capital investments expenditures and acquisitions$7,629 $1,309 $1,219 $10,157 $264 $— $10,421 
Segment assets138,225 13,849 6,716 158,790 3,598 — 162,388 
(a)    Electric Utilities and Infrastructure includes $948 million of Impairment charges and a reversal of $152 million included in Regulated electric operating revenue related to the CCR Settlement Agreement filed with the NCUC. Additionally, Electric Utilities and Infrastructure includes $19 million of Impairment charges related to the Clemson University Combined Heat and Power Plant, $5 million of Impairment charges related to the gas pipeline assets and $16 million of shareholder contributions within Operations, maintenance and other related to Duke Energy Carolinas' and Duke Energy Progress' 2019 North Carolina rate cases. See Note 3 for additional information.
(b)    Gas Utilities and Infrastructure includes $2.1 billion recorded within Equity in (losses) earnings of unconsolidated affiliates and $7 million of Impairment charges related to gas pipeline investments. See Notes 3 and 12 for additional information.
(c)    Other includes a $98 million reversal of 2018 severance costs due to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case. See Note 3 and 20 for additional information.
Year Ended December 31, 2019
ElectricGasTotal
Utilities andUtilities andCommercialReportable
(in millions)InfrastructureInfrastructureRenewablesSegmentsOtherEliminationsTotal
Unaffiliated Revenues$22,798 $1,770 $487 $25,055 $24 $— $25,079 
Intersegment Revenues33 96 — 129 71 (200)— 
Total Revenues$22,831 $1,866 $487 $25,184 $95 $(200)$25,079 
Interest Expense$1,345 $117 $95 $1,557 $705 $(58)$2,204 
Depreciation and amortization3,951 256 168 4,375 178 (5)4,548 
Equity in earnings (losses) of unconsolidated affiliates9 114 (4)119 43 — 162 
Income tax expense (benefit)785 22 (115)692 (173)— 519 
Segment income (loss)(a)(b)
3,536 432 198 4,166 (452)— 3,714 
Less noncontrolling interest177 
Add back preferred stock dividend41 
Loss from discontinued operations, net of tax(7)
Net income$3,571 
Capital investments expenditures and acquisitions$8,263 $1,539 $1,423 $11,225 $221 $— $11,446 
Segment assets135,561 13,921 6,020 155,502 3,148 188 158,838 
(a)    Electric Utilities and Infrastructure includes a $27 million reduction of a prior year impairment at Citrus County CC related to the plant's cost cap. See Note 3 for additional information.
(b)    Gas Utilities and Infrastructure includes an after-tax impairment charge of $19 million for the remaining investment in Constitution. See Note 12 for additional information.
Year Ended December 31, 2018
ElectricGasTotal
Utilities andUtilities andCommercialReportable
(in millions)InfrastructureInfrastructureRenewablesSegmentsOtherEliminationsTotal
Unaffiliated Revenues$22,242 $1,783 $477 $24,502 $19 $— $24,521 
Intersegment Revenues31 98 — 129 70 (199)— 
Total Revenues$22,273 $1,881 $477 $24,631 $89 $(199)$24,521 
Interest Expense$1,288 $106 $88 $1,482 $657 $(45)$2,094 
Depreciation and amortization3,523 245 155 3,923 152 (1)4,074 
Equity in earnings (losses) of unconsolidated affiliates5 27 (1)31 52 — 83 
Income tax expense (benefit)(a)
799 78 (147)730 (282)— 448 
Segment income (loss)(b)(c)(d)(e)
3,058 274 9 3,341 (694)— 2,647 
Less noncontrolling interest22 
Income from discontinued operations, net of tax19 
Net income$2,644 
Capital investments expenditures and acquisitions$8,086 $1,133 $193 $9,412 $256 $— $9,668 
Segment assets125,364 12,361 4,204 141,929 3,275 188 145,392 
(a)    All segments include adjustments to the December 31, 2017, estimate of the income tax effects of the Tax Act. Electric Utilities and Infrastructure includes a $24 million expense, Gas Utilities and Infrastructure includes a $1 million expense, Commercial Renewables includes a $3 million benefit and Other includes a $2 million benefit. See Note 23 for additional information.
(b)    Electric Utilities and Infrastructure includes after-tax regulatory and legislative impairment charges of $202 million related to rate case orders, settlements or other actions of regulators or legislative bodies and an after-tax impairment charge of $46 million related to the Citrus County CC at Duke Energy Florida. See Note 3 for additional information.
(c)    Gas Utilities and Infrastructure includes an after-tax impairment charge of $42 million for the investment in Constitution. See Note 12 for additional information.
(d)    Commercial Renewables includes an impairment charge of $91 million, net of $2 million Noncontrolling interests, related to goodwill. See Note 11 for additional information.
(e)    Other includes $65 million of after-tax costs to achieve the Piedmont merger, $144 million of after-tax severance charges related to a companywide initiative and an $82 million after-tax loss on the sale of Beckjord described below. For additional information, see Note 1 for the Piedmont merger and Note 20 for severance charges.
Schedule of Revenue, By Products and Services
Products and Services
The following table summarizes revenues of the reportable segments by type.
RetailWholesaleRetailTotal
(in millions)ElectricElectricNatural GasOther Revenues
2020
Electric Utilities and Infrastructure$18,898 $1,878 $— $944 $21,720 
Gas Utilities and Infrastructure— — 1,691 57 1,748 
Commercial Renewables— 434 — 68 502 
Total Reportable Segments$18,898 $2,312 $1,691 $1,069 $23,970 
2019
Electric Utilities and Infrastructure$19,745 $2,231 $— $855 $22,831 
Gas Utilities and Infrastructure— — 1,782 84 1,866 
Commercial Renewables— 389 — 98 487 
Total Reportable Segments$19,745 $2,620 $1,782 $1,037 $25,184 
2018
Electric Utilities and Infrastructure$19,013 $2,345 $— $915 $22,273 
Gas Utilities and Infrastructure— — 1,817 64 1,881 
Commercial Renewables— 375 — 102 477 
Total Reportable Segments$19,013 $2,720 $1,817 $1,081 $24,631 
Duke Energy Ohio  
Segment Reporting Information [Line Items]  
Business Segment Data
Year Ended December 31, 2020
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,405 $453 $1,858 $— $— $1,858 
Interest expense$85 $17 $102 $— $— $102 
Depreciation and amortization200 78 278 — — 278 
Income tax expense (benefit)19 26 45 (2)— 43 
Segment income (loss)/Net income162 96 258 (6)— 252 
Capital expenditures$548 $286 $834 $— $— $834 
Segment assets6,615 3,380 9,995 32 (2)10,025 
Year Ended December 31, 2019
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,456 $484 $1,940 $— $— $1,940 
Interest expense$80 $29 $109 $— $— $109 
Depreciation and amortization182 83 265 — — 265 
Income tax expense (benefit)20 21 41 (1)— 40 
Segment income (loss)159 85 244 (5)— 239 
Loss from discontinued operations, net of tax(1)
Net income$238 
Capital expenditures$680 $272 $952 $— $— $952 
Segment assets6,188 3,116 9,304 34 — 9,338 
Year Ended December 31, 2018
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$1,450 $506 $1,956 $1 $— $1,957 
Interest expense$67 $24 $91 $1 $— $92 
Depreciation and amortization183 85 268 — — 268 
Income tax expense (benefit)47 24 71 (28)— 43 
Segment income (loss)/Net Income(a)
186 93 279 (103)— 176 
Capital expenditures$655 $172 $827 $— $— $827 
Segment assets5,643 2,874 8,517 38 — 8,555 
(a)    Other includes the loss on the sale of Beckjord, see discussion above.