Duke Energy CORP

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

About this filing

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

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Contents

Duke Energy Ohio, Inc. Financial Statements

FINANCIAL STATEMENTS

Three Months Ended · Nine Months Ended
	September 30,		September 30,
(in millions)	2024	2023	2024	2023
Operating Revenues
Regulated electric	$497	$472	$1,431	$1,411
Regulated natural gas	108	105	460	464
Total operating revenues	605	577	1,891	1,875
Operating Expenses
Fuel used in electric generation and purchased power	146	145	416	485
Cost of natural gas	18	6	100	118
Operation, maintenance and other	131	114	378	358
Depreciation and amortization	102	90	297	266
Property and other taxes	99	94	303	258
Total operating expenses	496	449	1,494	1,485
Operating Income	109	128	397	390
Other Income and Expenses, net	2	12	12	33
Interest Expense	52	46	144	125
Income Before Income Taxes	59	94	265	298
Income Tax Expense	7	14	42	47
Net Income and Comprehensive Income	$52	$80	$223	$251

FINANCIAL STATEMENTS

(in millions)	September 30, 2024	December 31, 2023
ASSETS
Current Assets
Cash and cash equivalents	$8	$24
Receivables (net of allowance for doubtful accounts of $41 at 2024 and $9 at 2023)	401	112
Receivables from affiliated companies	11	239
Notes receivable from affiliated companies	33	—
Inventory	173	179
Regulatory assets	98	73
Other	43	134
Total current assets	767	761
Property, Plant and Equipment
Cost	13,784	13,210
Accumulated depreciation and amortization	(3,640)	(3,451)
Net property, plant and equipment	10,144	9,759
Other Noncurrent Assets
Goodwill	920	920
Regulatory assets	678	676
Operating lease right-of-use assets, net	8	16
Other	94	84
Total other noncurrent assets	1,700	1,696
Total Assets	$12,611	$12,216
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$285	$338
Accounts payable to affiliated companies	62	71
Notes payable to affiliated companies	198	613
Taxes accrued	247	316
Interest accrued	55	35
Current maturities of long-term debt	150	—
Asset retirement obligations	7	6
Regulatory liabilities	59	56
Other	68	65
Total current liabilities	1,131	1,500
Long-Term Debt	3,989	3,493
Long-Term Debt Payable to Affiliated Companies	25	25
Other Noncurrent Liabilities
Deferred income taxes	1,324	1,272
Asset retirement obligations	130	130
Regulatory liabilities	475	497
Operating lease liabilities	8	16
Accrued pension and other post-retirement benefit costs	93	97
Other	94	86
Total other noncurrent liabilities	2,124	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	1,461	1,238
Total equity	5,342	5,100
Total Liabilities and Equity	$12,611	$12,216

FINANCIAL STATEMENTS

	Nine Months Ended
	September 30,
(in millions)	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$223	$251
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	300	269
Equity component of AFUDC	(4)	(7)
Deferred income taxes	30	7
Contributions to qualified pension plans	(5)	(5)
Payments for asset retirement obligations	(5)	(9)
(Increase) decrease in
Receivables	47	(23)
Receivables from affiliated companies	57	103
Inventory	6	(24)
Other current assets	57	103
Increase (decrease) in
Accounts payable	(32)	(69)
Accounts payable to affiliated companies	(9)	(1)
Taxes accrued	(69)	(70)
Other current liabilities	26	(29)
Other assets	44	(39)
Other liabilities	(43)	(8)
Net cash provided by operating activities	623	449
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(640)	(676)
Net proceeds from the sales of other assets	—	75
Notes receivable from affiliated companies	(199)	(11)
Other	(29)	(53)
Net cash used in investing activities	(868)	(665)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	645	749
Payments for the redemption of long-term debt	—	(300)
Notes payable to affiliated companies	(415)	(224)
Other	(1)	(5)
Net cash provided by financing activities	229	220
Net decrease (increase) in cash and cash equivalents	(16)	4
Cash and cash equivalents at beginning of period	24	16
Cash and cash equivalents at end of period	$8	$20
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$94	$134

FINANCIAL STATEMENTS

	Three Months Ended September 30, 2023 and 2024
Additional
	Common	Paid-in	Retained	Total
(in millions)	Stock	Capital	Earnings	Equity
Balance at June 30, 2023	$762	$3,100	$1,075	$4,937
Net income	—	—	80	80
Balance at September 30, 2023	$762	$3,100	$1,155	$5,017
Balance at June 30, 2024	$762	$3,119	$1,409	$5,290
Net income	—	—	52	52
Balance at September 30, 2024	$762	$3,119	$1,461	$5,342
	Nine Months Ended September 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	—	—	251	251
Balance at September 30, 2023	$762	$3,100	$1,155	$5,017
Balance at December 31, 2023	$762	$3,100	$1,238	$5,100
Net income	—	—	223	223
Other	—	19	—	19
Balance at September 30, 2024	$762	$3,119	$1,461	$5,342

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.