Duke Energy CORPDUK
Duke Energy CORP PP&E Disclosure
PROPERTY, PLANT AND EQUIPMENT
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
| December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Remaining | Duke | Duke | Duke | Duke | Duke | ||||||||||||||||||||||||||||||||||||||||||||||||
| Useful Life | Duke | Energy | Progress | Energy | Energy | Energy | Energy | ||||||||||||||||||||||||||||||||||||||||||||||
| (in millions) | (Years) | Energy | Carolinas | Energy | Progress | Florida | Ohio | Indiana | Piedmont | ||||||||||||||||||||||||||||||||||||||||||||
| Land | $ | 2,569 | $ | 617 | $ | 1,134 | $ | 535 | $ | 599 | $ | 258 | $ | 144 | $ | 391 | |||||||||||||||||||||||||||||||||||||
| Plant – Regulated | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Electric generation, distribution and transmission | 37 | 137,836 | 49,547 | 62,351 | 35,633 | 26,718 | 7,634 | 18,304 | — | ||||||||||||||||||||||||||||||||||||||||||||
| Natural gas transmission and distribution | 58 | 15,333 | — | — | — | — | 4,255 | — | 11,078 | ||||||||||||||||||||||||||||||||||||||||||||
| Other buildings and improvements | 41 | 2,982 | 1,256 | 698 | 391 | 307 | 418 | 372 | 238 | ||||||||||||||||||||||||||||||||||||||||||||
| Nuclear fuel | 3,518 | 2,003 | 1,515 | 1,515 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| Equipment | 13 | 3,863 | 997 | 1,252 | 753 | 499 | 542 | 490 | 170 | ||||||||||||||||||||||||||||||||||||||||||||
| Construction in process | 7,850 | 2,735 | 3,657 | 1,884 | 1,773 | 385 | 406 | 405 | |||||||||||||||||||||||||||||||||||||||||||||
| Other | 10 | 6,855 | 1,227 | 1,953 | 1,349 | 594 | 426 | 254 | 498 | ||||||||||||||||||||||||||||||||||||||||||||
Total property, plant and equipment(a) | 180,806 | 58,382 | 72,560 | 42,060 | 30,490 | 13,918 | 19,970 | 12,780 | |||||||||||||||||||||||||||||||||||||||||||||
Total accumulated depreciation – regulated(b)(c) | (55,535) | (19,090) | (23,586) | (15,930) | (7,650) | (3,674) | (6,848) | (2,432) | |||||||||||||||||||||||||||||||||||||||||||||
Total accumulated depreciation – other(d) | (1,968) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| Total net property, plant and equipment | $ | 123,303 | $ | 39,292 | $ | 48,974 | $ | 26,130 | $ | 22,840 | $ | 10,244 | $ | 13,122 | $ | 10,348 | |||||||||||||||||||||||||||||||||||||
(a) Includes finance leases of $670 million, $336 million, $620 million, $512 million, $108 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy and Duke Energy Progress amounts are net of $159 million of accumulated amortization of finance leases.
(b) Includes $1,824 million, $1,010 million, $814 million and $814 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c) Includes accumulated amortization of finance leases of $84 million and $4 million at Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d) Includes accumulated amortization of finance leases of $25 million at Duke Energy.
| December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Remaining | Duke | Duke | Duke | Duke | Duke | ||||||||||||||||||||||||||||||||||||||||||||||||
| Useful Life | Duke | Energy | Progress | Energy | Energy | Energy | Energy | ||||||||||||||||||||||||||||||||||||||||||||||
| (in millions) | (Years) | Energy | Carolinas | Energy | Progress | Florida | Ohio | Indiana | Piedmont | ||||||||||||||||||||||||||||||||||||||||||||
| Land | $ | 2,345 | $ | 581 | $ | 1,012 | $ | 502 | $ | 510 | $ | 242 | $ | 133 | $ | 352 | |||||||||||||||||||||||||||||||||||||
| Plant – Regulated | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Electric generation, distribution and transmission | 40 | 129,985 | 48,107 | 57,436 | 33,171 | 24,265 | 7,243 | 17,199 | — | ||||||||||||||||||||||||||||||||||||||||||||
| Natural gas transmission and distribution | 57 | 14,130 | — | — | — | — | 3,993 | — | 10,137 | ||||||||||||||||||||||||||||||||||||||||||||
| Other buildings and improvements | 42 | 2,887 | 1,213 | 677 | 377 | 300 | 421 | 355 | 221 | ||||||||||||||||||||||||||||||||||||||||||||
| Nuclear fuel | 3,303 | 1,866 | 1,437 | 1,437 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| Equipment | 14 | 3,409 | 870 | 1,104 | 654 | 450 | 474 | 442 | 143 | ||||||||||||||||||||||||||||||||||||||||||||
| Construction in process | 8,372 | 2,578 | 3,941 | 1,661 | 2,280 | 427 | 427 | 690 | |||||||||||||||||||||||||||||||||||||||||||||
| Other | 12 | 6,922 | 1,455 | 2,037 | 1,481 | 548 | 410 | 344 | 365 | ||||||||||||||||||||||||||||||||||||||||||||
Total property, plant and equipment(a) | 171,353 | 56,670 | 67,644 | 39,283 | 28,353 | 13,210 | 18,900 | 11,908 | |||||||||||||||||||||||||||||||||||||||||||||
Total accumulated depreciation – regulated(b)(c) | (54,323) | (19,896) | (22,300) | (15,227) | (7,067) | (3,451) | (6,501) | (2,259) | |||||||||||||||||||||||||||||||||||||||||||||
Total accumulated depreciation – other(d) | (1,715) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| Total net property, plant and equipment | $ | 115,315 | $ | 36,774 | $ | 45,344 | $ | 24,056 | $ | 21,286 | $ | 9,759 | $ | 12,399 | $ | 9,649 | |||||||||||||||||||||||||||||||||||||
(a) Includes finance leases of $697 million, $335 million, $615 million, $552 million, $63 million, and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $292 million, $119 million and $173 million, respectively, of accumulated amortization of finance leases.
(b) Includes $1,793 million, $991 million, $802 million and $802 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c) Includes accumulated amortization of finance leases of $3 million, $67 million, and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d) Includes accumulated amortization of finance leases of $7 million at Duke Energy.
The following table presents capitalized interest, which includes the debt component of AFUDC.
| Years Ended December 31, | |||||||||||||||||
| (in millions) | 2024 | 2023 | 2022 | ||||||||||||||
| Duke Energy | $ | 201 | $ | 201 | $ | 118 | |||||||||||
| Duke Energy Carolinas | 61 | 62 | 50 | ||||||||||||||
| Progress Energy | 57 | 41 | 26 | ||||||||||||||
| Duke Energy Progress | 52 | 35 | 19 | ||||||||||||||
| Duke Energy Florida | 5 | 6 | 7 | ||||||||||||||
| Duke Energy Ohio | 14 | 16 | 14 | ||||||||||||||
Duke Energy Indiana | 13 | 21 | 3 | ||||||||||||||
| Piedmont | 8 | 8 | 4 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Feb 27, 2025 | Showing above |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 25, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.