v3.25.2
Investments in Debt and Equity Securities (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $145 $— $— $139 
Equity securities6,210 36 8,637 5,753 61 8,233 
Corporate debt securities14 24 822 6 33 673 
Municipal bonds1 20 355 2 14 342 
U.S. government bonds17 51 1,897 3 84 1,806 
Other debt securities2 6 253 1 8 239 
Total NDTF Investments$6,244 $137 $12,109 $5,765 $200 $11,432 
Other Investments
Cash and cash equivalents$— $— $138 $— $— $47 
Equity securities45 — 125 39 4 160 
Corporate debt securities— 3 77 — 5 79 
Municipal bonds— 2 67 — 1 83 
U.S. government bonds— 5 51 — 5 59 
Other debt securities— 3 43 — 4 45 
Total Other Investments$45 $13 $501 $39 $19 $473 
Total Investments$6,289 $150 $12,610 $5,804 $219 $11,905 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $145 $— $— $139 
Equity securities6,210 36 8,637 5,753 61 8,233 
Corporate debt securities14 24 822 6 33 673 
Municipal bonds1 20 355 2 14 342 
U.S. government bonds17 51 1,897 3 84 1,806 
Other debt securities2 6 253 1 8 239 
Total NDTF Investments$6,244 $137 $12,109 $5,765 $200 $11,432 
Other Investments
Cash and cash equivalents$— $— $138 $— $— $47 
Equity securities45 — 125 39 4 160 
Corporate debt securities— 3 77 — 5 79 
Municipal bonds— 2 67 — 1 83 
U.S. government bonds— 5 51 — 5 59 
Other debt securities— 3 43 — 4 45 
Total Other Investments$45 $13 $501 $39 $19 $473 
Total Investments$6,289 $150 $12,610 $5,804 $219 $11,905 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2025, and 2024, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2025June 30, 2024June 30, 2025June 30, 2024
FV-NI:
 Realized gains $41 $127 $167 $195 
 Realized losses40 27 81 45 
AFS:
 Realized gains10 2 20 12 
 Realized losses17 22 37 36 
Investments Classified by Contractual Maturity Date
The table below summarizes the maturity date for debt securities.
June 30, 2025
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
Due in one year or less$87 $5 $79 $17 $62 $1 
Due after one through five years896 397 438 375 63 8 
Due after five through 10 years695 360 285 268 17 6 
Due after 10 years1,887 1,074 712 664 48 11 
Total$3,565 $1,836 $1,514 $1,324 $190 $26 
Duke Energy Carolinas  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $60 $— $— $62 
Equity securities3,638 18 4,983 3,386 33 4,751 
Corporate debt securities6 21 501 2 27 401 
Municipal bonds— 6 38 — 4 36 
U.S. government bonds9 33 1,056 — 50 991 
Other debt securities2 6 241 1 8 223 
Total NDTF Investments$3,655 $84 $6,879 $3,389 $122 $6,464 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $60 $— $— $62 
Equity securities3,638 18 4,983 3,386 33 4,751 
Corporate debt securities6 21 501 2 27 401 
Municipal bonds— 6 38 — 4 36 
U.S. government bonds9 33 1,056 — 50 991 
Other debt securities2 6 241 1 8 223 
Total NDTF Investments$3,655 $84 $6,879 $3,389 $122 $6,464 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2025, and 2024, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2025June 30, 2024June 30, 2025June 30, 2024
FV-NI:
 Realized gains$22 $72 $104 $125 
 Realized losses 19 15 41 21 
AFS:
 Realized gains8 1 15 5 
 Realized losses9 11 23 17 
Progress Energy  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $85 $— $— $77 
Equity securities2,572 18 3,654 2,367 28 3,482 
Corporate debt securities8 3 321 4 6 272 
Municipal bonds1 14 317 2 10 306 
U.S. government bonds8 18 841 3 34 815 
Other debt securities— — 12 — — 16 
Total NDTF Investments$2,589 $53 $5,230 $2,376 $78 $4,968 
Other Investments
Cash and cash equivalents$— $— $16 $— $— $23 
Municipal bonds— 1 23 — — 24 
Total Other Investments$— $1 $39 $— $— $47 
Total Investments$2,589 $54 $5,269 $2,376 $78 $5,015 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $85 $— $— $77 
Equity securities2,572 18 3,654 2,367 28 3,482 
Corporate debt securities8 3 321 4 6 272 
Municipal bonds1 14 317 2 10 306 
U.S. government bonds8 18 841 3 34 815 
Other debt securities— — 12 — — 16 
Total NDTF Investments$2,589 $53 $5,230 $2,376 $78 $4,968 
Other Investments
Cash and cash equivalents$— $— $16 $— $— $23 
Municipal bonds— 1 23 — — 24 
Total Other Investments$— $1 $39 $— $— $47 
Total Investments$2,589 $54 $5,269 $2,376 $78 $5,015 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2025, and 2024, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2025June 30, 2024June 30, 2025June 30, 2024
FV-NI:
 Realized gains$19 $55 $63 $70 
 Realized losses21 12 40 24 
AFS:
 Realized gains2 1 5 7 
 Realized losses8 11 14 19 
Duke Energy Progress  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $67 $— $— $54 
Equity securities2,457 18 3,531 2,256 28 3,362 
Corporate debt securities7 3 302 4 6 256 
Municipal bonds1 14 317 2 10 306 
U.S. government bonds8 13 694 3 26 645 
Other debt securities— — 11 — — 14 
Total NDTF Investments$2,473 $48 $4,922 $2,265 $70 $4,637 
Other Investments
Cash and cash equivalents$— $— $11 $— $— $16 
Total Other Investments$— $— $11 $— $— $16 
Total Investments$2,473 $48 $4,933 $2,265 $70 $4,653 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $67 $— $— $54 
Equity securities2,457 18 3,531 2,256 28 3,362 
Corporate debt securities7 3 302 4 6 256 
Municipal bonds1 14 317 2 10 306 
U.S. government bonds8 13 694 3 26 645 
Other debt securities— — 11 — — 14 
Total NDTF Investments$2,473 $48 $4,922 $2,265 $70 $4,637 
Other Investments
Cash and cash equivalents$— $— $11 $— $— $16 
Total Other Investments$— $— $11 $— $— $16 
Total Investments$2,473 $48 $4,933 $2,265 $70 $4,653 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2025, and 2024, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2025June 30, 2024June 30, 2025June 30, 2024
FV-NI:
 Realized gains$17 $55 $61 $70 
 Realized losses21 12 40 24 
AFS:
 Realized gains2 1 5 7 
 Realized losses7 10 13 18 
Duke Energy Florida  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $18 $— $— $23 
Equity securities115 — 123 111 — 120 
Corporate debt securities1 — 19 — — 16 
U.S. government bonds— 5 147 — 8 170 
Other debt securities— — 1 — — 2 
Total NDTF Investments(a)
$116 $5 $308 $111 $8 $331 
Other Investments
Cash and cash equivalents$— $— $2 $— $— $3 
Municipal bonds— 1 23 — — 24 
Total Other Investments$— $1 $25 $— $— $27 
Total Investments$116 $6 $333 $111 $8 $358 
(a)During the six months ended June 30, 2025, and the year ended December 31, 2024, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $18 $— $— $23 
Equity securities115 — 123 111 — 120 
Corporate debt securities1 — 19 — — 16 
U.S. government bonds— 5 147 — 8 170 
Other debt securities— — 1 — — 2 
Total NDTF Investments(a)
$116 $5 $308 $111 $8 $331 
Other Investments
Cash and cash equivalents$— $— $2 $— $— $3 
Municipal bonds— 1 23 — — 24 
Total Other Investments$— $1 $25 $— $— $27 
Total Investments$116 $6 $333 $111 $8 $358 
(a)During the six months ended June 30, 2025, and the year ended December 31, 2024, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.
Duke Energy Indiana  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedEstimated
HoldingHoldingFairHoldingFair
(in millions)GainsLossesValueLossesValue
Investments
Cash and cash equivalents$— $— $2 $— $1 
Equity securities1 — 47 4 89 
Corporate debt securities— — 1 — 6 
Municipal bonds— 1 25 1 43 
U.S. government bonds— — — — 7 
Total Investments$1 $1 $75 $5 $146 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
June 30, 2025December 31, 2024
GrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedEstimated
HoldingHoldingFairHoldingFair
(in millions)GainsLossesValueLossesValue
Investments
Cash and cash equivalents$— $— $2 $— $1 
Equity securities1 — 47 4 89 
Corporate debt securities— — 1 — 6 
Municipal bonds— 1 25 1 43 
U.S. government bonds— — — — 7 
Total Investments$1 $1 $75 $5 $146