Duke Energy CORPDUK

Duke Energy CORP Goodwill & Intangibles Disclosure

10-KFiled Feb 26, 20263 min read
GOODWILL AND INTANGIBLE ASSETS
GOODWILL
Duke Energy
Duke Energy's Goodwill balance of $19.0 billion is allocated $17.4 billion to EU&I and $1.6 billion to GU&I on Duke Energy's Consolidated Balance Sheets at December 31, 2025, and 2024. There are no accumulated impairment charges.
In July 2025, Piedmont entered into a purchase agreement for the sale of Piedmont's Tennessee business. In the third quarter of 2025, Duke Energy reclassified the Piedmont Tennessee Disposal Group to assets held for sale. As a result, $294 million of Duke Energy’s Goodwill balance that is allocated to the Piedmont Tennessee Disposal Group was reclassified to noncurrent assets held for sale on Duke Energy's Consolidated Balance Sheets. See Note 2 for additional information.
Duke Energy Ohio
Duke Energy Ohio's Goodwill balance of $920 million, allocated $596 million to EU&I and $324 million to GU&I, is presented net of accumulated impairment charges of $216 million on the Consolidated Balance Sheets at December 31, 2025, and 2024.
Progress Energy
Progress Energy's Goodwill is included in the EU&I segment and there are no accumulated impairment charges.
Piedmont
Piedmont's Goodwill is included in the GU&I segment and there are no accumulated impairment charges.
In July 2025, Piedmont entered into a purchase agreement for the sale of Piedmont's Tennessee business. In the third quarter of 2025, $10 million of Piedmont’s Goodwill balance that is allocated to the Piedmont Tennessee Disposal Group was reclassified to noncurrent assets held for sale on Piedmont's Consolidated Balance Sheets. See Note 2 for additional information.
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 2025.
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, 2025, and 2024.
 December 31, 2025
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 259 115 143 143 — 1 — — 
Other 47 — 5 1 4 — — 22 
Total gross carrying amounts 314 115 153 146 7 1 2 22 
Accumulated amortization – other (23)— (4)— (4)— — (12)
Total intangible assets, net $291 $115 $149 $146 $3 $1 $2 $10 
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 241 103 136 136 — 2 — — 
Other 47 — 5 1 4 — — 22 
Total gross carrying amounts 296 103 146 139 7 2 2 22 
Accumulated amortization – other (19)— (3)— (3)— — (9)
Total intangible assets, net $277 $103 $143 $139 $4 $2 $2 $13 
Amortization Expense
Amortization expense amounts for other intangible assets are immaterial for the years ended December 31, 2025, 2024 and 2023, and are expected to be immaterial for the next five years as of December 31, 2025.

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 27, 2025
2023Feb 23, 2024
2022Feb 27, 2023
2021Feb 24, 2022
2020Feb 25, 2021
2019Feb 20, 2020
2018Feb 28, 2019
2017Feb 21, 2018
2016Feb 24, 2017
2015Feb 25, 2016

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

Other Available Disclosures

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