Form 8-K
8-K — Duke Energy CORP
Accession: 0001104659-26-038007
Filed: 2026-04-01
Period: 2026-03-31
CIK: 0001326160
SIC: 4931 (ELECTRIC & OTHER SERVICES COMBINED)
Item: Completion of Acquisition or Disposition of Assets
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — tm2610676d1_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (tm2610676d1_ex99-1.htm)
EX-99.2 — EXHIBIT 99.2 (tm2610676d1_ex99-2.htm)
GRAPHIC (tm2610676d1_8kimg001.jpg)
GRAPHIC (tm2610676d1_ex99-2img01.jpg)
GRAPHIC (tm2610676d1_ex99-2img02.jpg)
GRAPHIC (tm2610676d1_ex99-2img03.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K — FORM 8-K
8-K (Primary)
Filename: tm2610676d1_8k.htm · Sequence: 1
false
0001326160
0000078460
false
8-K
2026-03-31
false
false
false
false
false
0001326160
2026-03-31
2026-03-31
0001326160
duk:PiedmontNaturalGasCompanyMember
2026-03-31
2026-03-31
0001326160
us-gaap:CommonStockMember
2026-03-31
2026-03-31
0001326160
duk:JuniorSubordinatedDebentures5.625CouponDueSeptember2078Member
2026-03-31
2026-03-31
0001326160
duk:DepositoryShareMember
2026-03-31
2026-03-31
0001326160
duk:Percentage310seniornotesdue2028Member
2026-03-31
2026-03-31
0001326160
duk:Percentage385seniornotesdue2034Member
2026-03-31
2026-03-31
0001326160
duk:ThreepointsevenfivepercentSeniorNotesdue2031Member
2026-03-31
2026-03-31
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 31, 2026
Commission
File
Number
Exact
Name of Registrant as Specified in its Charter, State or other
Jurisdiction of Incorporation,
Address of Principal Executive Offices, Zip Code, and Registrant's
Telephone Number, Including Area Code
IRS
Employer
Identification No.
1-32853
DUKE ENERGY CORPORATION
(a Delaware corporation)
525 South Tryon Street
Charlotte, North Carolina 28202
800-488-3853
20-2777218
1-6196
PIEDMONT
NATURAL GAS COMPANY, INC.
(a North
Carolina corporation)
525 South Tryon Street
Charlotte, North Carolina 28202
800-488-3853
56-0556998
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
SECURITIES REGISTERED
PURSUANT TO SECTION 12(b) OF THE ACT:
Registrant
Title of each class
Trading
Symbol(s)
Name
of each exchange on
which registered
Duke Energy
Common Stock, $0.001 par value
DUK
New York Stock Exchange LLC
Duke Energy
5.625% Junior Subordinated Debentures due September 15, 2078
DUKB
New York Stock Exchange LLC
Duke Energy
Depositary
Shares each representing a 1/1,000th interest
in a share of 5.75% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share
DUK PR A
New York Stock Exchange LLC
Duke Energy
3.10% Senior Notes due 2028
DUK 28A
New York Stock Exchange LLC
Duke Energy
3.85% Senior Notes due 2034
DUK
34
New York Stock Exchange LLC
Duke Energy
3.75% Senior Notes due 2031
DUK 31A
New York Stock Exchange LLC
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
Co-Registrant CIK
0000078460
Co-Registrant Amendment Flag
false
Co-Registrant Form Type
8-K
Co-Registrant DocumentPeriodEndDate
2026-03-31
Co-Registrant Written Communications
false
Co-Registrant Solicitating Materials
false
Co-Registrant PreCommencement Tender Offer
false
Co-Registrant PreCommencement Issuer Tender Offer
false
Co-Registrant Emerging Growth Company
false
Item 2.01 Completion of Acquisition or Disposition of Assets.
As previously disclosed in a Current Report on Form 8-K filed
with the U.S. Securities and Exchange Commission (the “SEC”) on July 29, 2025 by Duke Energy Corporation (“Duke
Energy”) and Piedmont Natural Gas Company, Inc., a North Carolina corporation (“Piedmont”) and wholly owned subsidiary
of Duke Energy, Piedmont entered into an Asset Purchase Agreement by and between Piedmont and Spire Tennessee Inc., a Delaware corporation
and successor-in-interest to Spire Inc., a Missouri corporation (“Buyer”), dated as of July 27, 2025 (the “Purchase
Agreement”). Subject to the terms and conditions set forth therein, Piedmont agreed to sell its Tennessee natural gas local distribution
company business to Buyer (the “Transaction”). On March 31, 2026, and pursuant to the Purchase Agreement, Piedmont completed
the Transaction for $2.48 billion in cash, subject to customary purchase price adjustments as set forth in the Purchase Agreement.
The unaudited pro forma financial information of Piedmont as of December 31,
2025, after giving effect to the Transaction, is filed as Exhibit 99.1 to this
Current Report on Form 8-K and incorporated into this Item 2.01 by reference.
The foregoing description of the Purchase Agreement does not purport
to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, a copy of which was filed as
Exhibit 2.1 to Piedmont’s Form 10-Q for the quarterly period ended September 30, 2025, filed on November 7,
2025, and is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On March 31, 2026, Duke Energy issued a press release announcing
the completion of the Transaction. A copy of the press release is attached hereto as Exhibit 99.2.
The information contained in this Item 7.01 (including Exhibit 99.2)
is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated
by reference into any filing of Duke Energy under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange
Act.
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 Exchange Act. Forward-looking statements are based on management’s
beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as “anticipate,” “believe,”
“intend,” “estimate,” “expect,” “continue,” “should,” “could,”
“may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,”
“target,” “outlook,” “guidance,” and similar expressions. 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 risks and uncertainties are identified and discussed in Duke Energy’s Form 10-K for the
year ended December 31, 2025, and subsequent quarterly reports filed with the SEC
and available at the SEC’s website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described
in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described.
Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Item 9.01 Financial Statements and Exhibits.
(b) Pro forma financial information.
The following unaudited pro forma financial information of Piedmont,
after giving effect to the Transaction, is attached hereto as Exhibit 99.1:
· Unaudited Pro Forma Consolidated Balance Sheet of Piedmont as of December 31,
2025; and
· Unaudited Pro Forma Consolidated Statement of Operations for the Year Ended
December 31, 2025.
(d) Exhibits.
2.1
Asset Purchase Agreement, dated as of July 27, 2025, by and between Piedmont Natural Gas Company, Inc. and Spire Inc. (incorporated by reference to Exhibit 2.1 to the Quarterly Report on Form 10-Q of Piedmont Natural Gas Company, Inc. filed on November 7, 2025,
File No. 001-6196).
99.1
Unaudited Pro Forma Consolidated Financial Information of Piedmont Natural Gas Company, Inc.
99.2
Press Release, dated March 31,
2026, issued by Duke Energy Corporation.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DUKE ENERGY CORPORATION
PIEDMONT NATURAL GAS COMPANY, INC.
Date:
April 1, 2026
By:
/s/ David S. Maltz
David S. Maltz
Vice President, Legal, Chief Governance Officer and Corporate Secretary
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: tm2610676d1_ex99-1.htm · Sequence: 2
Exhibit 99.1
SELECTED UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL
DATA
On July 27, 2025, Piedmont Natural Gas Company, Inc (the “Company”,
"PNG", and “our”) entered into a purchase agreement (“Purchase Agreement”) with Spire, Inc., for the
sale (the “Transaction”) of our Piedmont Tennessee business ("PNG TN") with expected proceeds of $2.48 billion,
subject to closing adjustments, with proceeds due at closing. The Company completed the sale on March 31, 2026. The Transaction is considered
significant to the Company and is therefore reflected in these unaudited Pro Forma Consolidated Financial Statements.
The unaudited Pro Forma Consolidated Financial Statements have been
derived from the Company’s historical consolidated financial statements ("PNG Historical") and give effect to the Transaction.
The following unaudited Pro Forma Consolidated Statement of Operations for the year ended December 31, 2025 reflects the Company’s
results as if the Transaction had occurred as of January 1, 2025. The following unaudited Pro Forma Consolidated Balance Sheet as of December
31, 2025 reflects the Company’s financial position as if the Transaction had occurred on December 31, 2025. The Transaction does
not qualify as a discontinued operation as it does not represent a strategic shift that will have a major effect on the Company’s
operations or financial results.
The unaudited Pro Forma Consolidated Financial Statements have been
prepared based upon management’s estimates utilizing the best available information and are subject to the assumptions and adjustments
described below and in the accompanying notes to the unaudited Pro Forma Consolidated Financial Statements. They are not intended to be
a complete representation of the Company’s financial position or results of operations had the Transaction occurred as of the period
indicated. In addition, the unaudited Pro Forma Consolidated Financial Statements are provided for illustrative and informational purposes
only and are not necessarily indicative of the Company’s future results of operations or financial condition had the Transaction
and related transactions been completed on the date assumed. The unaudited Pro Forma Consolidated Financial Statements should be read
in conjunction with the Company’s historical consolidated financial statements and accompanying notes.
The unaudited Pro Forma Consolidated Financial Statements have been
prepared in accordance with Regulation S-X Article 11, Pro Forma Financial Information.
PIEDMONT NATURAL GAS COMPANY, INC.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS
For the Year Ended December 31, 2025
Transaction Accounting Adjustments
(in millions)
PNG Historical
PNG TN
Notes
Other Adjustments
Notes
Pro Forma Balance
Operating Revenues
Regulated natural gas
$ 2,209
$ (322 )
(a)
$ -
$ 1,887
Nonregulated natural gas and other
28
(4 )
(a)
-
24
Total operating revenues
2,237
(326 )
(a)
-
1,911
Operating Expenses
Cost of natural gas
784
(99 )
(a)
-
685
Operation, maintenance and other
408
(31 )
(a)
(13 )
(k)
364
Depreciation and amortization
282
(36 )
(a)
-
246
Property and other taxes
67
(11 )
(a)
-
56
Total operating expenses
1,541
(177 )
(a)
(13 )
1,351
Gains on Sales of Other Assets and Other, net
-
-
(a)
693
(f)
693
Operating Income (Loss)
696
(149 )
(a)
706
1,253
Other Income and Expenses
Equity in earnings of unconsolidated affiliates
8
-
(a)
-
8
Other income and expenses, net
41
(4 )
(a)
-
37
Total other income and expenses
49
(4 )
(a)
-
45
Interest Expense
193
6
(a)
(22 )
(g)
177
Income (Loss) Before Income Taxes
552
(159 )
(a)
728
1,121
Income Tax Expense
112
-
(a)
122
(h)
234
Net Income (Loss) and Comprehensive (Loss) Income
$ 440
$ (159 )
(a)
$ 606
$ 887
See accompanying Notes to the Unaudited Pro Forma Consolidated Financial Statements, which are an integral part of these statements.
PIEDMONT NATURAL GAS COMPANY, INC.
Unaudited Pro Forma Consolidated Balance Sheet
As of December 31, 2025
Transaction Accounting Adjustments
(in millions)
PNG Historical
PNG TN
Notes
Other Adjustments
Notes
Pro Forma Balance
ASSETS
Current Assets
Cash and cash equivalents
$ 1
$ -
(a)
$ 1,333
(b) (c) (e)
$ 1,334
Receivables (net of allowance for doubtful accounts of $6)
390
-
(a)
-
390
Receivables from affiliated companies
8
-
(a)
-
8
Inventory
77
-
(a)
-
77
Assets held for sale
109
(109 )
(a)
-
-
Regulatory assets
106
-
(a)
-
106
Other
8
-
(a)
-
8
Total current assets
699
(109 )
(a)
1,333
1,923
Property, Plant and Equipment
Cost
11,325
-
(a)
-
11,325
Accumulated depreciation and amortization
(2,168 )
-
(a)
-
(2,168 )
Net property, plant and equipment
9,157
-
(a)
-
9,157
Other Noncurrent Assets
Goodwill
39
-
(a)
-
39
Regulatory assets
350
-
(a)
-
350
Operating lease right-of-use assets, net
2
-
(a)
-
2
Investments in unconsolidated affiliates
76
-
(a)
-
76
Assets held for sale
1,864
(1,864 )
(a)
-
-
Other
283
-
(a)
-
283
Total other noncurrent assets
2,614
(1,864 )
(a)
-
750
Total Assets
$ 12,470
$ (1,973 )
(a)
$ 1,333
$ 11,830
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable
$ 286
$ -
(a)
$ -
$ 286
Accounts payable to affiliated companies
90
-
(a)
37
(j)
127
Notes payable to affiliated companies
609
-
(a)
(350 )
(c)
259
Taxes accrued
106
-
(a)
-
106
Interest accrued
41
-
(a)
(22 )
(g)
19
Current maturities of long-term debt
490
-
(a)
(450 )
(c)
40
Liabilities associated with assets held for sale
66
(66 )
(a)
-
-
Regulatory liabilities
20
-
(a)
-
20
Other
81
-
(a)
37
(d)
118
Total current liabilities
1,789
(66 )
(a)
(748 )
975
Long-Term Debt
3,761
-
(a)
-
3,761
Other Noncurrent Liabilities
Deferred income taxes
1,071
-
(a)
(169 )
(e)
902
Asset retirement obligations
25
-
(a)
-
25
Regulatory liabilities
802
-
(a)
(9 )
(e)
793
Operating lease liabilities
2
-
(a)
-
2
Accrued pension and other post-retirement benefit costs
7
-
(a)
-
7
Liabilities associated with assets held for sale
170
(170 )
(a)
-
-
Other
89
-
(a)
-
89
Total other noncurrent liabilities
2,166
(170 )
(a)
(178 )
1,818
Commitments and Contingencies
Equity
Common Stock, no par value, 100 shares authorized and outstanding at 2025
1,635
-
(a)
-
1,635
Retained earnings
3,118
-
(a)
522
(i)
3,640
Total Piedmont Natural Gas Company, Inc. stockholder's equity
4,753
-
(a)
522
5,275
Noncontrolling interests
1
-
(a)
-
1
Total equity
4,754
-
(a)
522
5,276
Total Liabilities and Equity
$ 12,470
$ (236 )
(a)
$ (404 )
$ 11,830
See accompanying Notes to the Unaudited Pro Forma Consolidated Financial Statements, which are an integral part of these statements.
NOTES TO THE UNAUDITED PRO FORMA CONSOLIDATED
FINANCIAL STATEMENTS
Transaction Accounting Adjustments to Pro Forma Consolidated Financial
Statements:
(a) Adjustments represent the elimination of assets, liabilities, and
results of operations of the Piedmont Tennessee business.
(b) Reflects $2.48 billion of estimated cash consideration from the
disposal of the Piedmont Tennessee business less repayment of debt noted in (c) and estimated payment for taxes as noted in (e).
(c) Reflects cash used for repayment of the Company’s debt of
$800 million. Unamortized debt expenses were immaterial.
(d) Reflects accrual for non-recurring costs of approximately $37 million
incurred after December 31, 2025, to complete the Transaction. These costs primarily relate to transaction advisory and professional fees
associated with the Transaction.
(e) Reflects estimated current Income tax accrued and Deferred tax
expense due to the recognition of the taxable gain resulting from the Transaction. Adjustments include $347 million offset to cash representative
of decrease in accumulated deferred income tax and taxes accrued.
(f) Reflects the estimated gain recognized from the Transaction. The
estimated gain was computed by taking the total consideration of $2.48 billion, less the amount of net assets sold of $1.74 billion and
$50 million estimated transaction costs associated with the Transaction. The actual gain will be calculated based on the net book value
as of the closing of the Transaction and therefore could differ from the current estimate. The total consideration received is subject
to customary post-closing adjustments.
(g) Reflects the elimination of the related Interest expense of
$22 million for the twelve months ended December 31, 2025 to give effect to the repayment of debt.
(h) Reflects the income tax effect of the pro forma adjustments calculated
using the applicable statutory tax rates in effect within the respective tax jurisdictions during the periods presented. The estimated
federal and state statutory income tax rate is 24%.
(i) Amounts relate to adjustments to retained earnings due to gain
on sale, tax impact of the gain on sale, interest expense, transaction costs, and corporate allocation costs.
(j) Adjustment to Accounts payable to affiliated companies of $37 million
reflects corporate allocations for the proportionate share of corporate governance and other shared services costs, primarily related
to shared support functions, office supplies, rent, as well as other third-party costs, indemnification coverages, and usage of shared
office space.
(k) Reflects the reclassification of transaction costs of $13 million
incurred prior to December 31, 2025, to offset the gain on sale.
EX-99.2 — EXHIBIT 99.2
EX-99.2
Filename: tm2610676d1_ex99-2.htm · Sequence: 3
Exhibit 99.2
Media Contact: Gillian Moore
24-hour: 800.559.3853
Analyst Contact: Mike Switzer
Office: 704.382.6473
March 31, 2026
Duke Energy completes
sale of its Tennessee Piedmont Natural Gas business to Spire
· Close
of transaction previously announced in July 2025
· Proceeds
to help fund industry’s largest regulated capital plan
CHARLOTTE, N.C. – Duke Energy
(NYSE: DUK) today announced it has completed the sale of its Tennessee Piedmont Natural Gas business to Spire – one of the largest
publicly traded natural gas companies in the country – for $2.48 billion. The agreement was previously announced on July 29,
2025.
Approximately $800 million of the proceeds
will be used to pay down debt at Piedmont Natural Gas to maintain its capital structure. The remaining $1.5 billion proceeds, net of
tax, will help efficiently fund the industry’s largest regulated capital plan – $103 billion of investments over the next
five years – to support a growing system and serve increasing load while keeping customer costs as low as possible.
“Today marks a significant milestone
with the successful transition of our Tennessee natural gas business to Spire,” said Harry Sideris, Duke Energy president and chief
executive officer. “As we enter a period of record investment, this transaction helps efficiently fund our capital plan –
a plan built on safely and reliably meeting our communities’ growing energy needs while managing costs for our more than 10 million
customers.”
Sideris added, “I want to thank
our Tennessee natural gas teammates for their commitment to industry-leading customer service, safety and operational excellence, as
well as the Nashville community for trusting us to serve its growing energy needs for more than 40 years. Spire will carry forward best-in-class
service and continue delivering value for Tennessee employees, customers and communities.”
“We’re pleased to welcome
Piedmont customers and employees in Tennessee to Spire,” said Scott Doyle, president and chief executive officer of Spire. “This
acquisition allows us to expand our core utility business while continuing to do what we do best as a company – safely delivering
reliable natural gas to the communities we serve.”
The sale agreement for the Piedmont
Natural Gas Tennessee business included nearly 3,800 miles of distribution and transmission pipelines serving more than 200,000 customers.
The primary operations will remain in the Greater Nashville area, and the Piedmont Natural Gas employees who primarily support the business
have transitioned to Spire to maintain business continuity for its operations and customers.
JP Morgan Securities LLC and RBC Capital
Markets LLC served as Duke Energy's financial advisors. Skadden, Arps, Slate, Meagher & Flom LLP served as Duke Energy's transactional
legal advisor. In addition, Duke Energy received legal support on certain matters from Holland & Knight. McGuireWoods acted
as joint regulatory counsel for both Duke Energy and Spire.
Duke Energy
Duke Energy (NYSE: DUK),
a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s
electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively
own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio
and Kentucky.
Duke Energy is executing
an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation
resources to strengthen the system and serve growing energy needs.
More information is available at duke-energy.com.
Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its
communities.
Piedmont Natural
Gas
Piedmont Natural
Gas, a subsidiary of Duke Energy, distributes natural gas to more than 1 million residential, commercial, industrial and power generation
customers in North Carolina and South Carolina. More information: piedmontng.com. Follow Piedmont Natural Gas: Facebook.
Spire
Spire Inc. (NYSE: SR) believes
energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of Spire's company. Every day
Spire serves close to 2 million homes and businesses, making it one of the largest publicly traded natural gas companies in the
country. Spire helps families and business owners fuel their daily lives through its gas utilities serving Alabama, Mississippi,
Missouri and Tennessee. Its natural gas-related businesses include Spire Marketing and Spire Midstream. Spire is committed to
transforming its business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more
at SpireEnergy.com.
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. These forward-looking statements are identified
by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect,"
"continue," "should," "could," "may," "plan," "project," "predict,"
"will," "potential," "forecast," "target," "outlook," "guidance," and similar
expressions. 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 risks and uncertainties are identified and discussed in
Duke Energy’s Form 10-K for the year ended December 31, 2025, and subsequent quarterly reports filed with the U.S. Securities
and Exchange Commission (the “SEC”) and available at the SEC’s website at www.sec.gov. In light of these risks, uncertainties
and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a
different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
###
GRAPHIC
GRAPHIC
Filename: tm2610676d1_8kimg001.jpg · Sequence: 8
Binary file (3846 bytes)
Download tm2610676d1_8kimg001.jpg
GRAPHIC
GRAPHIC
Filename: tm2610676d1_ex99-2img01.jpg · Sequence: 9
Binary file (6579 bytes)
Download tm2610676d1_ex99-2img01.jpg
GRAPHIC
GRAPHIC
Filename: tm2610676d1_ex99-2img02.jpg · Sequence: 10
Binary file (2997 bytes)
Download tm2610676d1_ex99-2img02.jpg
GRAPHIC
GRAPHIC
Filename: tm2610676d1_ex99-2img03.jpg · Sequence: 11
Binary file (3706 bytes)
Download tm2610676d1_ex99-2img03.jpg
XML — IDEA: XBRL DOCUMENT
XML
Filename: R1.htm · Sequence: 13
v3.26.1
Cover
Mar. 31, 2026
Document Type
8-K
Amendment Flag
false
Document Period End Date
Mar. 31, 2026
Entity File Number
1-32853
Entity Registrant Name
DUKE ENERGY CORPORATION
Entity Central Index Key
0001326160
Entity Tax Identification Number
20-2777218
Entity Incorporation, State or Country Code
DE
Entity Address, Address Line One
525 South Tryon Street
Entity Address, City or Town
Charlotte
Entity Address, State or Province
NC
Entity Address, Postal Zip Code
28202
City Area Code
800
Local Phone Number
488-3853
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Entity Emerging Growth Company
false
Piedmont Natural Gas Company [Member]
Document Type
8-K
Amendment Flag
false
Document Period End Date
Mar. 31, 2026
Entity File Number
1-6196
Entity Registrant Name
PIEDMONT
NATURAL GAS COMPANY, INC.
Entity Central Index Key
0000078460
Entity Tax Identification Number
56-0556998
Entity Incorporation, State or Country Code
NC
Entity Address, Address Line One
525 South Tryon Street
Entity Address, City or Town
Charlotte
Entity Address, State or Province
NC
Entity Address, Postal Zip Code
28202
City Area Code
800
Local Phone Number
488-3853
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Entity Emerging Growth Company
false
Common Stock [Member]
Title of 12(b) Security
Common Stock, $0.001 par value
Trading Symbol
DUK
Security Exchange Name
NYSE
Junior Subordinated Debentures 5.625 Coupon Due September 2078 [Member]
Title of 12(b) Security
5.625% Junior Subordinated Debentures due September 15, 2078
Trading Symbol
DUKB
Security Exchange Name
NYSE
Depositary Share [Member]
Title of 12(b) Security
Depositary
Shares
Trading Symbol
DUK PR A
Security Exchange Name
NYSE
3.10% Senior Notes due 2028 [Member]
Title of 12(b) Security
3.10% Senior Notes due 2028
Trading Symbol
DUK 28A
Security Exchange Name
NYSE
3.85% Senior Notes due 2034 [Member]
Title of 12(b) Security
3.85% Senior Notes due 2034
Trading Symbol
DUK
34
Security Exchange Name
NYSE
3.75% Senior Notes due 2031 [Member}
Title of 12(b) Security
3.75% Senior Notes due 2031
Trading Symbol
DUK 31A
Security Exchange Name
NYSE
X
- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details
Name:
dei_AmendmentFlag
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Area code of city
+ References
No definition available.
+ Details
Name:
dei_CityAreaCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
dei_
Data Type:
dei:stateOrProvinceItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Details
Name:
us-gaap_StatementClassOfStockAxis=duk_PiedmontNaturalGasCompanyMember
Namespace Prefix:
Data Type:
na
Balance Type:
Period Type:
X
- Details
Name:
us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember
Namespace Prefix:
Data Type:
na
Balance Type:
Period Type:
X
- Details
Name:
us-gaap_StatementClassOfStockAxis=duk_JuniorSubordinatedDebentures5.625CouponDueSeptember2078Member
Namespace Prefix:
Data Type:
na
Balance Type:
Period Type:
X
- Details
Name:
us-gaap_StatementClassOfStockAxis=duk_DepositoryShareMember
Namespace Prefix:
Data Type:
na
Balance Type:
Period Type:
X
- Details
Name:
us-gaap_StatementClassOfStockAxis=duk_Percentage310seniornotesdue2028Member
Namespace Prefix:
Data Type:
na
Balance Type:
Period Type:
X
- Details
Name:
us-gaap_StatementClassOfStockAxis=duk_Percentage385seniornotesdue2034Member
Namespace Prefix:
Data Type:
na
Balance Type:
Period Type:
X
- Details
Name:
us-gaap_StatementClassOfStockAxis=duk_ThreepointsevenfivepercentSeniorNotesdue2031Member
Namespace Prefix:
Data Type:
na
Balance Type:
Period Type: