Duke Energy CORP

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 6, 2024

DUK$128.94+0.7%Stored close · as of Nov 10, 2026

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Contents

Duke Energy Ohio, Inc. Financial Statements

FINANCIAL STATEMENTS

Three Months Ended · Six Months Ended
	June 30,		June 30,
(in millions)	2024	2023	2024	2023
Operating Revenues
Regulated electric	$476	$465	$934	$939
Regulated natural gas	132	124	352	359
Total operating revenues	608	589	1,286	1,298
Operating Expenses
Fuel used in electric generation and purchased power	132	164	270	340
Cost of natural gas	21	20	82	112
Operation, maintenance and other	121	121	247	244
Depreciation and amortization	96	86	195	176
Property and other taxes	102	84	204	164
Total operating expenses	472	475	998	1,036
Operating Income	136	114	288	262
Other Income and Expenses, net	4	13	10	21
Interest Expense	47	43	92	79
Income Before Income Taxes	93	84	206	204
Income Tax Expense	16	13	35	33
Net Income and Comprehensive Income	$77	$71	$171	$171

FINANCIAL STATEMENTS

(in millions)	June 30, 2024	December 31, 2023
ASSETS
Current Assets
Cash and cash equivalents	$11	$24
Receivables (net of allowance for doubtful accounts of $42 at 2024 and $9 at 2023)	417	112
Receivables from affiliated companies	10	239
Notes receivable from affiliated companies	153	—
Inventory	191	179
Regulatory assets	83	73
Other	29	134
Total current assets	894	761
Property, Plant and Equipment
Cost	13,596	13,210
Accumulated depreciation and amortization	(3,597)	(3,451)
Net property, plant and equipment	9,999	9,759
Other Noncurrent Assets
Goodwill	920	920
Regulatory assets	689	676
Operating lease right-of-use assets, net	11	16
Other	88	84
Total other noncurrent assets	1,708	1,696
Total Assets	$12,601	$12,216
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$294	$338
Accounts payable to affiliated companies	55	71
Notes payable to affiliated companies	329	613
Taxes accrued	205	316
Interest accrued	43	35
Current maturities of long-term debt	150	—
Asset retirement obligations	7	6
Regulatory liabilities	43	56
Other	65	65
Total current liabilities	1,191	1,500
Long-Term Debt	3,988	3,493
Long-Term Debt Payable to Affiliated Companies	25	25
Other Noncurrent Liabilities
Deferred income taxes	1,304	1,272
Asset retirement obligations	129	130
Regulatory liabilities	476	497
Operating lease liabilities	11	16
Accrued pension and other post-retirement benefit costs	93	97
Other	94	86
Total other noncurrent liabilities	2,107	2,098
Commitments and Contingencies
Equity
Common Stock, $8.50 par value, 120 million shares authorized; 90 million shares outstanding at 2024 and 2023	762	762
Additional paid-in capital	3,119	3,100
Retained earnings	1,409	1,238
Total equity	5,290	5,100
Total Liabilities and Equity	$12,601	$12,216

FINANCIAL STATEMENTS

	Six Months Ended
	June 30,
(in millions)	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$171	$171
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	197	178
Equity component of AFUDC	(2)	(3)
Deferred income taxes	17	12
Payments for asset retirement obligations	(3)	(5)
(Increase) decrease in
Receivables	31	(14)
Receivables from affiliated companies	58	—
Inventory	(11)	(33)
Other current assets	82	105
Increase (decrease) in
Accounts payable	(21)	(30)
Accounts payable to affiliated companies	(16)	(12)
Taxes accrued	(111)	(135)
Other current liabilities	(6)	(48)
Other assets	34	(19)
Other liabilities	(38)	(44)
Net cash provided by operating activities	382	123
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(417)	(435)
Net proceeds from the sales of other assets	—	75
Notes receivable from affiliated companies	(319)	(93)
Other	(19)	(34)
Net cash used in investing activities	(755)	(487)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	648	749
Notes payable to affiliated companies	(284)	(388)
Other	(4)	(5)
Net cash provided by financing activities	360	356
Net decrease in cash and cash equivalents	(13)	(8)
Cash and cash equivalents at beginning of period	24	16
Cash and cash equivalents at end of period	$11	$8
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$93	$120

FINANCIAL STATEMENTS

	Three Months Ended June 30, 2023 and 2024
Additional
	Common	Paid-in	Retained	Total
(in millions)	Stock	Capital	Earnings	Equity
Balance at March 31, 2023	$762	$3,100	$1,004	$4,866
Net income	—	—	71	71
Balance at June 30, 2023	$762	$3,100	$1,075	$4,937
Balance at March 31, 2024	$762	$3,100	$1,332	$5,194
Net income	—	—	77	77
Other	—	19	—	19
Balance at June 30, 2024	$762	$3,119	$1,409	$5,290
	Six Months Ended June 30, 2023 and 2024
Additional
	Common	Paid-in	Retained	Total
(in millions)	Stock	Capital	Earnings	Equity
Balance at December 31, 2022	$762	$3,100	$904	$4,766
Net income	—	—	171	171
Balance at June 30, 2023	$762	$3,100	$1,075	$4,937
Balance at December 31, 2023	$762	$3,100	$1,238	$5,100
Net income	—	—	171	171
Other	—	19	—	19
Balance at June 30, 2024	$762	$3,119	$1,409	$5,290

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.