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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Components of Income Tax Expense
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes
Federal $(281)$314 $280 $181 $148 $10 $48 $(27)
State (9)35 29 17 24 1 7 (8)
Foreign 1 — — — — — — — 
Total current income taxes (289)349 309 198 172 11 55 (35)
Deferred income taxes       
Federal 155 (171)(167)(180)1 30 12 60 
State (92)(86)(24)(49)25 2 17 (7)
Total deferred income taxes(a)
63 (257)(191)(229)26 32 29 53 
ITC amortization (10)(4)(5)(5)— — — — 
Income tax (benefit) expense from continuing operations (236)88 113 (36)198 43 84 18 
Tax expense from discontinued operations 2 — — — — — — — 
Total income tax (benefit) expense included in Consolidated Statements of Operations $(234)$88 $113 $(36)$198 $43 $84 $18 
(a)     Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $20 million at Duke Energy Carolinas, $3 million at Duke Energy Progress, $8 million at Duke Energy Indiana, and $11 million at Piedmont. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $39 million at Progress Energy, $30 million at Duke Energy Florida and $79 million at Duke Energy.
 Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $(299)$164 $(173)$(36)$(43)$(41)$(23)$(92)
State 10 13 (7)(3)18 (1)1 (1)
Foreign 2 — — — — — — — 
Total current income taxes (287)177 (180)(39)(25)(42)(22)(93)
Deferred income taxes       
Federal 855 175 422 220 153 77 128 133 
State (38)(37)17 (18)27 5 28 3 
Total deferred income taxes(a)
817 138 439 202 180 82 156 136 
ITC amortization (11)(4)(6)(6)— — — — 
Income tax expense from continuing operations 519 311 253 157 155 40 134 43 
Tax benefit from discontinued operations (2)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations $517 $311 $253 $157 $155 $40 $134 $43 
(a)    Total deferred income taxes includes the generation of tax credit carryforwards of $8 million at Duke Energy Carolinas. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $243 million at Progress Energy, $35 million at Duke Energy Progress, $152 million at Duke Energy Florida, $25 million at Duke Energy Ohio, $60 million at Duke Energy Indiana, $90 million at Piedmont and $775 million at Duke Energy.
 Year Ended December 31, 2018
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $(647)$(8)$(135)$(71)$(49)$20 $29 $67 
State (11)6 (5)(5)(10)(1)3 1 
Foreign 3 — — — — — — — 
Total current income taxes (655)(2)(140)(76)(59)19 32 68 
Deferred income taxes        
Federal 1,064 299 341 256 115 21 74 (36)
State 49 11 20 (17)45 3 22 5 
Total deferred income taxes(a)(b)
1,113 310 361 239 160 24 96 (31)
ITC amortization (10)(5)(3)(3)— — — — 
Income tax expense from continuing operations 448 303 218 160 101 43 128 37 
Tax benefit from discontinued operations (26)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations $422 $303 $218 $160 $101 $43 $128 $37 
(a)    Includes benefits of NOL carryforwards and tax credit carryforwards of $22 million at Duke Energy Carolinas, $293 million at Progress Energy, $59 million at Duke Energy Progress, $219 million at Duke Energy Florida, $17 million at Duke Energy Ohio, $21 million at Duke Energy Indiana and $39 million at Piedmont. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $18 million at Duke Energy.
(b)    For the year ended December 31, 2018, the Company has revised the December 31, 2017, estimates of the income tax effects of the Tax Act, in accordance with SAB 118. See the Statutory Rate Reconciliation section below for additional information on the Tax Act's impact on income tax expense    .
Schedule of Income before Income Tax, Domestic and Foreign
Duke Energy Income from Continuing Operations before Income Taxes
 Years Ended December 31,
(in millions)202020192018
Domestic$826 $4,053 $3,018 
Foreign13 44 55 
Income from continuing operations before income taxes$839 $4,097 $3,073 
Summary of Effective Tax Rates
The following tables present a reconciliation of income tax expense at the U.S. federal statutory tax rate to the actual tax expense from continuing operations.
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$176 $219 $243 $80 $204 $62 $103 $61 
State income tax, net of federal income tax effect(80)(40)4 (25)39 2 19 (12)
Amortization of excess deferred income tax(276)(82)(118)(68)(49)(20)(36)(21)
AFUDC equity income(48)(13)(9)(6)(3)(2)(4)(10)
AFUDC equity depreciation103 19 10 5 5 1 4 — 
Noncontrolling Interests62 — — — — — — — 
Renewable energy PTCs(110)— — — — — — — 
Other tax credits(37)(13)(16)(14)(2)(1)(3)(2)
Tax true up(12)(3)1 (5)5 — (1)1 
Other items, net(14)1 (2)(3)(1)1 2 1 
Income tax (benefit) expense from continuing operations$(236)$88 $113 $(36)$198 $43 $84 $18 
Effective tax rate(28.1)%8.4 %9.7 %(9.5)%20.4 %14.6 %17.1 %6.2 %
 Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$860 $360 $332 $202 $178 $59 $120 $51 
State income tax, net of federal income tax effect(22)(19)8 (17)35 3 22 2 
Amortization of excess deferred income tax(121)(29)(64)(10)(54)(12)(6)(10)
AFUDC equity income(52)(9)(14)(13)(1)(3)(3)— 
AFUDC equity depreciation34 19 10 5 5 1 4 — 
Renewable energy PTCs(120)— — — — — — — 
Other tax credits(23)(11)(9)(7)(2)(1)(1)(1)
Tax true up(64)(9)(8)(3)(5)(7)(1)— 
Other items, net27 9 (2)— (1)— (1)1 
Income tax expense from continuing operations$519 $311 $253 $157 $155 $40 $134 $43 
Effective tax rate12.7 %18.1 %16.0 %16.3 %18.3 %14.3 %23.5 %17.6 %
 Year Ended December 31, 2018
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$645 $288 $263 $174 $137 $46 $109 $35 
State income tax, net of federal income tax effect30 14 13 (17)28 2 20 4 
Amortization of excess deferred income tax(61)— (55)(1)(54)(3)(2)— 
AFUDC equity income(42)(15)(22)(12)(10)(2)(2)— 
AFUDC equity depreciation31 18 9 5 4 1 4 — 
Renewable energy PTCs(129)— — — — — — — 
Other tax credits(28)(7)(13)(5)(8)(1)(1)(3)
Tax Act(a)
20 1 25 19 — 2 — — 
Other items, net(18)4 (2)(3)4 (2)— 1 
Income tax expense from continuing operations$448 $303 $218 $160 $101 $43 $128 $37 
Effective tax rate14.6 %22.1 %17.4 %19.3 %15.4 %19.6 %24.6 %22.3 %
(a)     For the year ended December 31, 2018, the Company revised the December 31, 2017, estimates of the income tax effects of the Tax Act, in accordance with SAB 118. Amounts primarily include but are not limited to items that are excluded for ratemaking purposes related certain wholesale fixed-rate contracts, remeasurement of nonregulated net deferred tax liabilities, Federal NOLs, and valuation allowance on foreign tax credits.
Schedule of Deferred Tax Assets and Liabilities
Net Deferred Income Tax Liability Components
 December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $286 $85 $87 $67 $18 $21 $7 $38 
Lease obligations 515 96 208 120 87 5 16 5 
Pension, post-retirement and other employee benefits 236 (30)68 24 38 16 26 (5)
Progress Energy merger purchase accounting adjustments(a)
441 — — — — — — — 
Tax credits and NOL carryforwards 3,909 285 508 179 282 16 183 29 
Regulatory liabilities and deferred credits— 11 — — — 18 — — 
Investments and other assets— — — — — 7 — 
Other 93 8 14 9 4 7 1 8 
Valuation allowance (586)— — — — — — — 
Total deferred income tax assets 4,894 455 885 399 429 90 233 75 
Investments and other assets (2,267)(1,127)(669)(507)(164)— (14)(48)
Accelerated depreciation rates (10,729)(3,170)(3,868)(1,778)(2,124)(1,071)(1,433)(844)
Regulatory assets and deferred debits, net (1,142)— (744)(412)(332)— (14)(4)
Total deferred income tax liabilities (14,138)(4,297)(5,281)(2,697)(2,620)(1,071)(1,461)(896)
Net deferred income tax liabilities$(9,244)$(3,842)$(4,396)$(2,298)$(2,191)$(981)$(1,228)$(821)
(a)    Primarily related to lease obligations and debt fair value adjustments.
 December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $125 $24 $25 $49 $— $14 $5 $22 
Lease obligations 462 72 193 92 102 5 17 6 
Pension, post-retirement and other employee benefits 303 (5)88 38 44 17 27 (3)
Progress Energy merger purchase accounting adjustments(a)
389 — — — — — — — 
Tax credits and NOL carryforwards 3,925 262 486 176 253 16 176 19 
Regulatory liabilities and deferred credits— — — — — 36 52 42 
Investments and other assets— — — — — 10 — 2 
Other 97 5 8 3 2 8 1 6 
Valuation allowance (587)— — — — — — — 
Total deferred income tax assets 4,714 358 800 358 401 106 278 94 
Investments and other assets (1,664)(981)(577)(390)(190)— (12)— 
Accelerated depreciation rates (10,813)(3,254)(3,798)(1,918)(1,913)(1,028)(1,416)(802)
Regulatory assets and deferred debits, net (1,115)(44)(887)(438)(477)— — — 
Total deferred income tax liabilities (13,592)(4,279)(5,262)(2,746)(2,580)(1,028)(1,428)(802)
Net deferred income tax liabilities $(8,878)$(3,921)$(4,462)$(2,388)$(2,179)$(922)$(1,150)$(708)
(a)    Primarily related to finance lease obligations and debt fair value adjustments.
Summary of Tax Credit Carryforwards
The following table presents the expiration of tax credits and NOL carryforwards.
 December 31, 2020
(in millions)AmountExpiration Year
General Business Credits$2,033 2024—2040
Federal NOL carryforwards(a) (f)
154 2024—Indefinite
Capital loss carryforward(e)
85 2024
State carryforwards and credits(b) (f)
340 2021—Indefinite
Foreign NOL carryforwards(c)
12 2027—2037
Foreign Tax Credits(d)
1,272 2024—2027
Charitable contribution carryforwards13 2025
Total tax credits and NOL carryforwards $3,909    
(a)    A valuation allowance of $4 million has been recorded on the Federal NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(b)    A valuation allowance of $97 million has been recorded on the state NOL and attribute carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(c)    A valuation allowance of $12 million has been recorded on the foreign NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(d)    A valuation allowance of $388 million has been recorded on the foreign tax credits, as presented in the Net Deferred Income Tax Liability Components table.
(e)    A valuation allowance of $85 million has been recorded on the Federal capital loss carryforward, as presented in the Net Deferred Income Tax Liability Components table.
(f)    Indefinite carryforward for Federal NOLs, and NOLs for states that have adopted the Tax Act's NOL provisions, generated in tax years beginning after December 31, 2017.
Schedule of Unrecognized Tax Benefits Roll Forward
The following tables present changes to unrecognized tax benefits.
 Year Ended December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$126 $8 $9 $6 $3 $1 $1 $4 
Gross decreases – tax positions in prior periods(2)— — — — — — — 
Gross increases – current period tax positions4 2 1 — — — — — 
Reduction due to lapse of statute of limitations(3)— — — — — — (3)
Total changes(1)2 1 — — — — (3)
Unrecognized tax benefits – December 31$125 $10 $10 $6 $3 $1 $1 $1 
 Year Ended December 31, 2019
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$24 $6 $9 $6 $3 $1 $1 $4 
Unrecognized tax benefits increases105 2 1 1 — — — — 
Gross decreases – tax positions in prior periods(3)— (1)(1)— — — — 
Total changes102 2 — — — — — — 
Unrecognized tax benefits – December 31$126 $8 $9 $6 $3 $1 $1 $4 
 Year Ended December 31, 2018
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$25 $5 $5 $5 $5 $1 $1 $3 
Unrecognized tax benefits increases (decreases)
Gross decreases – tax positions in prior periods(2)(1)— — (4)— — — 
Gross increases – tax positions in prior periods7 2 4 1 2 — — 1 
Decreases due to settlements(6)— — — — — — — 
Total changes(1)1 4 1 (2)— — 1 
Unrecognized tax benefits – December 31$24 $6 $9 $6 $3 $1 $1 $4 
Summary of Income Tax Contingencies
The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits at December 31, 2020. Duke Energy Registrants do not anticipate a material increase or decrease in unrecognized tax benefits within the next 12 months.
 December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Amount that if recognized, would affect the
effective tax rate or regulatory liability(a)
$122 $10 $10 $6 $3 $1 $1 $1 
(a)    The Duke Energy Registrants are unable to estimate the specific amounts that would affect the ETR versus the regulatory liability.