Duke Energy Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Duke Energy Corp. has filed its 2023 10-K report, detailing operations across its subsidiaries.</b>

AI Summary

Duke Energy CORP (DUKB) filed a Annual Report (10-K) with the SEC on February 23, 2024. Duke Energy Corp. filed its 10-K report for the fiscal year ending December 31, 2023. The filing includes information on Duke Energy Corp., Duke Energy Ohio, Inc., Duke Energy Carolinas, LLC, Piedmont Natural Gas Co. Inc., and Duke Energy Indiana, LLC. Duke Energy Corp. is incorporated in Delaware. Duke Energy Ohio, Inc. is incorporated in Ohio. Duke Energy Carolinas, LLC, Piedmont Natural Gas Co. Inc., and Duke Energy Indiana, LLC are all headquartered in Charlotte, NC.

Why It Matters

For investors and stakeholders tracking Duke Energy CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Duke Energy's financial performance and operational status for the fiscal year 2023. The report consolidates information from key subsidiaries, offering insights into the diverse energy and natural gas services provided by the company.

Risk Assessment

Risk Level: medium — Duke Energy CORP shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report for a publicly traded company, indicating no immediate or unusual concerns.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Duke Energy's performance and outlook for the upcoming year.

Key Numbers

• 20231231 — Fiscal Year End (Conformed Period of Report)
• 20240223 — Filing Date (Filed as of Date)
• 271 — Public Document Count (Total documents in the filing)
• 0001326160-24-000037 — Accession Number (Unique identifier for the filing)

Key Players & Entities

• Duke Energy CORP (company) — Filer
• Duke Energy Ohio, Inc. (company) — Filer
• Duke Energy Carolinas, LLC (company) — Filer
• PIEDMONT NATURAL GAS CO INC (company) — Filer
• Duke Energy Indiana, LLC (company) — Filer
• DE (jurisdiction) — State of Incorporation for Duke Energy Corp.
• OH (jurisdiction) — State of Incorporation for Duke Energy Ohio, Inc.
• NC (jurisdiction) — State of Incorporation for Duke Energy Carolinas, LLC, Piedmont Natural Gas Co. Inc.

FAQ

Industry Context

Duke Energy Corp. operates as a public utility company, providing electric and natural gas services.

Regulatory Implications

The filing is a 10-K, a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and debt levels.
2. Review the business description for operational segments and strategies.
3. Examine risk factors for potential challenges and mitigation plans.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following the previous year's 2022 10-K.

Key Financial Figures

• $0.001 — Duke Energy Corporation Common Stock, $0.001 par value DUK New York Stock Exchange L

Filing Documents

• duk-20231231.htm (10-K) — 14702KB
• duk-20231231x10kxexx1073.htm (EX-10.7 3) — 30KB
• duk-20231231x10kxexx21.htm (EX-21) — 51KB
• duk-20231231x10kxexx2311.htm (EX-23.1 1) — 3KB
• duk-20231231x10kxexx2312.htm (EX-23.1 2) — 2KB
• duk-20231231x10kxexx2313.htm (EX-23.1 3) — 2KB
• duk-20231231x10kxexx2314.htm (EX-23.1 4) — 2KB
• duk-20231231x10kxexx2315.htm (EX-23.1 5) — 2KB
• duk-20231231x10kxexx2316.htm (EX-23.1 6) — 2KB
• duk-20231231x10kxexx2317.htm (EX-23.1 7) — 2KB
• duk-20231231x10kxexx241.htm (EX-24.1) — 21KB
• duk-20231231x10kxexx242.htm (EX-24.2) — 5KB
• duk-20231231x10kxexx3111.htm (EX-31.1 1) — 8KB
• duk-20231231x10kxexx3112.htm (EX-31.1 2) — 8KB
• duk-20231231x10kxexx3113.htm (EX-31.1 3) — 8KB
• duk-20231231x10kxexx3114.htm (EX-31.1 4) — 8KB
• duk-20231231x10kxexx3115.htm (EX-31.1 5) — 8KB
• duk-20231231x10kxexx3116.htm (EX-31.1 6) — 8KB
• duk-20231231x10kxexx3117.htm (EX-31.1 7) — 8KB
• duk-20231231x10kxexx3118.htm (EX-31.1 8) — 8KB
• duk-20231231x10kxexx3121.htm (EX-31.2 1) — 8KB
• duk-20231231x10kxexx3122.htm (EX-31.2 2) — 8KB
• duk-20231231x10kxexx3123.htm (EX-31.2 3) — 8KB
• duk-20231231x10kxexx3124.htm (EX-31.2 4) — 8KB
• duk-20231231x10kxexx3125.htm (EX-31.2 5) — 8KB
• duk-20231231x10kxexx3126.htm (EX-31.2 6) — 8KB
• duk-20231231x10kxexx3127.htm (EX-31.2 7) — 8KB
• duk-20231231x10kxexx3128.htm (EX-31.2 8) — 8KB
• duk-20231231x10kxexx3211.htm (EX-32.1 1) — 4KB
• duk-20231231x10kxexx3212.htm (EX-32.1 2) — 4KB
• duk-20231231x10kxexx3213.htm (EX-32.1 3) — 4KB
• duk-20231231x10kxexx3214.htm (EX-32.1 4) — 4KB
• duk-20231231x10kxexx3215.htm (EX-32.1 5) — 4KB
• duk-20231231x10kxexx3216.htm (EX-32.1 6) — 4KB
• duk-20231231x10kxexx3217.htm (EX-32.1 7) — 4KB
• duk-20231231x10kxexx3218.htm (EX-32.1 8) — 4KB
• duk-20231231x10kxexx3221.htm (EX-32.2 1) — 4KB
• duk-20231231x10kxexx3222.htm (EX-32.2 2) — 4KB
• duk-20231231x10kxexx3223.htm (EX-32.2 3) — 4KB
• duk-20231231x10kxexx3224.htm (EX-32.2 4) — 4KB
• duk-20231231x10kxexx3225.htm (EX-32.2 5) — 4KB
• duk-20231231x10kxexx3226.htm (EX-32.2 6) — 4KB
• duk-20231231x10kxexx3227.htm (EX-32.2 7) — 4KB
• duk-20231231x10kxexx3228.htm (EX-32.2 8) — 4KB
• duk-20231231_g1.jpg (GRAPHIC) — 140KB
• duk-20231231_g2.jpg (GRAPHIC) — 71KB
• duk-20231231_g3.jpg (GRAPHIC) — 1665KB
• duk-20231231_g4.jpg (GRAPHIC) — 98KB
• duk-20231231_g5.jpg (GRAPHIC) — 47KB
• duk-20231231_g6.jpg (GRAPHIC) — 50KB
• 0001326160-24-000037.txt (&nbsp;) — 76904KB
• duk-20231231.xsd (EX-101.SCH) — 219KB
• duk-20231231_cal.xml (EX-101.CAL) — 239KB
• duk-20231231_def.xml (EX-101.DEF) — 2296KB
• duk-20231231_lab.xml (EX-101.LAB) — 2206KB
• duk-20231231_pre.xml (EX-101.PRE) — 2632KB
• duk-20231231_htm.xml (XML) — 19183KB

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: The ability to implement our business strategy, including our carbon emission reduction goals; The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; The ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations, asset retirement and construction costs related to carbon emissions reductions, and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process; The costs of decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS Construction and development risks associated with the completion of the Duke Energy Registrants' capital investment projects, including risks related to financing, timing and receipt of necessary regulatory approvals, obtaining and complying with terms of permits, meeting construction budgets and schedules and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; The ability to control operation and maintenance costs; The level of creditworthiness of counterparties to transactions; The ability to obtain adequate insurance at acceptable costs; Employee workforce factors, including the potential inability to attract and retain key personnel; The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); The performance of projects undertaken by our businesses and the success of efforts to invest in and develop new opportunities; The effect of accounting and reporting pronouncements issued periodically by accounting standard-setting bodies and the SEC; The impact of United States tax legislation to our financial condition, results of operations or cash flows and our credit ratings; The impacts from potential impairments of goodwill or equity method investment carrying values; Asset or business acquisitions and dispositions may not yield the anticipated benefits; and The actions of activist shareholders could disrupt our operations, impact our ability to execute on our business strategy, or cause fluctuations in the trading price of our common stock. Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and

BUSINESS

ITEM 1. BUSINESS DUKE ENERGY General Duke Energy was incorporated on May 3, 2005, and is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies listed below. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Certain Duke Energy subsidiaries are also Subsidiary Registrants, including Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont. Operations in Kentucky are conducted through Duke Energy Ohio's wholly owned subsidiary, Duke Energy Kentucky. References herein to Duke Energy Ohio include Duke Energy Ohio and its subsidiaries, unless otherwise noted. When discussing Duke Energy's consolidated financial information, it necessarily includes the results of its separate Subsidiary Registrants, which along with Duke Energy, are collectively referred to as the Duke Energy Registrants. The Duke Energy Registrants electronically file reports with the SEC, including Annual Reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements and amendments to such reports. The SEC maintains an internet site that contains reports, proxy and information statements and other information regarding issuers that file electronically with the SEC at sec.gov. Additionally, information about the Duke Energy Registrants, including reports filed with the SEC, is available through Duke Energy's website at duke-energy.com. Such reports are accessible at no charge and are made available as soon as reasonably practicable after such material is filed with or furnished to the SEC. Business Segments Duke Energy's segment structure includes two reportable business segments: Electric Utilities and Infrastructure (EU&I) and Gas Utilities and Infrastructure (GU&I). The remainder of Duke Energy's operations is presented as Other. Commercial Renewables is reported as disc

View Full Filing

View this 10-K filing on SEC EDGAR