Duke Energy CORP
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 2024
DUK$128.94+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Duke Energy Florida, LLC Financial Statements
FINANCIAL STATEMENTS
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| (in millions) | 2024 | 2023 | 2024 | 2023 |
| Operating Revenues | $1,940 | $2,164 | $5,092 | $5,456 |
| Operating Expenses | ||||
| Fuel used in electric generation and purchased power | 705 | 885 | 1,833 | 2,218 |
| Operation, maintenance and other | 272 | 361 | 779 | 898 |
| Depreciation and amortization | 286 | 239 | 796 | 674 |
| Property and other taxes | 127 | 157 | 350 | 403 |
| Impairment of assets and other charges | — | — | — | (1) |
| Total operating expenses | 1,390 | 1,642 | 3,758 | 4,192 |
| Gains on Sales of Other Assets and Other, net | 1 | — | 2 | 1 |
| Operating Income | 551 | 522 | 1,336 | 1,265 |
| Other Income and Expenses, net | 21 | 19 | 67 | 56 |
| Interest Expense | 114 | 103 | 339 | 305 |
| Income Before Income Taxes | 458 | 438 | 1,064 | 1,016 |
| Income Tax Expense | 94 | 91 | 212 | 206 |
| Net Income | $364 | $347 | $852 | $810 |
| Other Comprehensive Income, net of tax | ||||
| Unrealized gains on available-for-sale securities | — | — | — | 2 |
| Other Comprehensive Income, net of tax | $— | $— | $— | $2 |
| Comprehensive Income | $364 | $347 | $852 | $812 |
FINANCIAL STATEMENTS
| (in millions) | September 30, 2024 | December 31, 2023 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $16 | $24 |
| Receivables (net of allowance for doubtful accounts of $31 at 2024 and $11 at 2023) | 760 | 83 |
| Receivables of VIEs (net of allowance for doubtful accounts of $0 at 2024 and $20 at 2023) | — | 532 |
| Receivables from affiliated companies | 2 | 238 |
| Inventory (includes $477 at 2024 and $462 at 2023 related to VIEs) | 686 | 674 |
| Regulatory assets (includes $60 at 2024 and $59 at 2023 related to VIEs) | 261 | 720 |
| Other (includes $19 at 2024 and $37 at 2023 related to VIEs) | 40 | 51 |
| Total current assets | 1,765 | 2,322 |
| Property, Plant and Equipment | ||
| Cost | 29,924 | 28,353 |
| Accumulated depreciation and amortization | (7,496) | (7,067) |
| Net property, plant and equipment | 22,428 | 21,286 |
| Other Noncurrent Assets | ||
| Regulatory assets (includes $754 at 2024 and $803 at 2023 related to VIEs) | 2,071 | 1,883 |
| Nuclear decommissioning trust funds | 349 | 382 |
| Operating lease right-of-use assets, net | 290 | 299 |
| Other | 497 | 429 |
| Total other noncurrent assets | 3,207 | 2,993 |
| Total Assets | $27,400 | $26,601 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities | ||
| Accounts payable (includes $199 at 2024 and $188 at 2023 related to VIEs) | $882 | $738 |
| Accounts payable to affiliated companies | 127 | 135 |
| Notes payable to affiliated companies | 195 | 152 |
| Taxes accrued | 238 | 185 |
| Interest accrued | 127 | 86 |
| Current maturities of long-term debt (includes $59 at 2024 and $384 at 2023 related to VIEs) | 436 | 589 |
| Asset retirement obligations | 2 | 1 |
| Regulatory liabilities | 82 | 118 |
| Other | 330 | 350 |
| Total current liabilities | 2,419 | 2,354 |
| Long-Term Debt (includes $772 at 2024 and $831 at 2023 related to VIEs) | 9,812 | 9,812 |
| Other Noncurrent Liabilities | ||
| Deferred income taxes | 2,765 | 2,733 |
| Asset retirement obligations | 203 | 274 |
| Regulatory liabilities | 700 | 708 |
| Operating lease liabilities | 234 | 251 |
| Accrued pension and other post-retirement benefit costs | 92 | 98 |
| Investment tax credits | 242 | 242 |
| Other (includes $0 at 2024 and $6 at 2023 related to VIEs) | 161 | 86 |
| Total other noncurrent liabilities | 4,397 | 4,392 |
| Commitments and Contingencies | ||
| Equity | ||
| Member's equity | 10,777 | 10,048 |
| Accumulated other comprehensive loss | (5) | (5) |
| Total equity | 10,772 | 10,043 |
| Total Liabilities and Equity | $27,400 | $26,601 |
FINANCIAL STATEMENTS
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| (in millions) | 2024 | 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $852 | $810 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, amortization and accretion | 936 | 943 |
| Equity component of AFUDC | (11) | (10) |
| Impairment of assets and other charges | — | (1) |
| Deferred income taxes | 13 | (42) |
| Equity in (earnings) losses of unconsolidated affiliates | — | 1 |
| Contributions to qualified pension plans | (9) | (9) |
| Payments for asset retirement obligations | (68) | (46) |
| (Increase) decrease in | ||
| Receivables | (171) | (203) |
| Receivables from affiliated companies | 236 | (1) |
| Inventory | (2) | (89) |
| Other current assets | 541 | 516 |
| Increase (decrease) in | ||
| Accounts payable | 266 | (140) |
| Accounts payable to affiliated companies | (8) | (23) |
| Taxes accrued | 56 | 289 |
| Other current liabilities | (3) | 23 |
| Other assets | (391) | 12 |
| Other liabilities | 27 | (14) |
| Net cash provided by operating activities | 2,264 | 2,016 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capital expenditures | (1,855) | (1,851) |
| Purchases of debt and equity securities | (109) | (135) |
| Proceeds from sales and maturities of debt and equity securities | 193 | 182 |
| Other | (222) | (125) |
| Net cash used in investing activities | (1,993) | (1,929) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from the issuance of long-term debt | 179 | 281 |
| Payments for the redemption of long-term debt | (393) | (76) |
| Notes payable to affiliated companies | 43 | (313) |
| Distributions to parent | (125) | — |
| Other | (1) | (1) |
| Net cash used in financing activities | (297) | (109) |
| Net decrease in cash, cash equivalents and restricted cash | (26) | (22) |
| Cash, cash equivalents and restricted cash at beginning of period | 67 | 86 |
| Cash, cash equivalents and restricted cash at end of period | $41 | $64 |
| Supplemental Disclosures: | ||
| Significant non-cash transactions: | ||
| Accrued capital expenditures | $372 | $352 |
FINANCIAL STATEMENTS
| Three Months Ended September 30, 2023 and 2024 | |||
|---|---|---|---|
| Accumulated | |||
| Other | |||
| Comprehensive | |||
| Loss | |||
| Net Unrealized | |||
| Losses on | |||
| Member's | Available-for-Sale | Total | |
| (in millions) | Equity | Securities | Equity |
| Balance at June 30, 2023 | $9,494 | $(6) | $9,488 |
| Net income | 347 | — | 347 |
| Other | 1 | — | 1 |
| Balance at September 30, 2023 | $9,842 | $(6) | $9,836 |
| Balance at June 30, 2024 | $10,555 | $(5) | $10,550 |
| Net income | 364 | — | 364 |
| Distributions to parent | (125) | — | (125) |
| Other | (17) | — | (17) |
| Balance at September 30, 2024 | $10,777 | $(5) | $10,772 |
| Nine Months Ended September 30, 2023 and 2024 | |||
| Accumulated | |||
| Other | |||
| Comprehensive | |||
| Loss | |||
| Net Unrealized | |||
| Gains (Losses) on | |||
| Member's | Available-for-Sale | Total | |
| (in millions) | Equity | Securities | Equity |
| Balance at December 31, 2022 | $9,031 | $(8) | $9,023 |
| Net income | 810 | — | 810 |
| Other comprehensive income | — | 2 | 2 |
| Other | 1 | — | 1 |
| Balance at September 30, 2023 | $9,842 | $(6) | $9,836 |
| Balance at December 31, 2023 | $10,048 | $(5) | $10,043 |
| Net income | 852 | — | 852 |
| Distributions to parent | (125) | — | (125) |
| Other | 2 | — | 2 |
| Balance at September 30, 2024 | $10,777 | $(5) | $10,772 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.