Duke Energy CORP
For the period ended Mar 31, 2025. Filed May 6, 2025.
View on SEC.govAbout 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.
Mar 31, 2025 · Filed May 6, 2025
DUK$128.10+0.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Progress Energy, Inc. Financial Statements
FINANCIAL STATEMENTS
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (in millions) | 2025 | 2024 |
| Operating Revenues | $3,467 | $3,228 |
| Operating Expenses | ||
| Fuel used in electric generation and purchased power | 1,106 | 1,143 |
| Operation, maintenance and other | 688 | 628 |
| Depreciation and amortization | 631 | 587 |
| Property and other taxes | 172 | 158 |
| Total operating expenses | 2,597 | 2,516 |
| Gains on Sales of Other Assets and Other, net | 6 | 7 |
| Operating Income | 876 | 719 |
| Other Income and Expenses, net | 55 | 62 |
| Interest Expense | 275 | 260 |
| Income Before Income Taxes | 656 | 521 |
| Income Tax Expense | 110 | 86 |
| Net Income and Comprehensive Income | $546 | $435 |
FINANCIAL STATEMENTS
| (in millions) | March 31, 2025 | December 31, 2024 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $87 | $73 |
| Receivables (net of allowance for doubtful accounts of $67 at 2025 and $39 at 2024) | 1,455 | 707 |
| Receivables of VIEs (net of allowance for doubtful accounts of $34 at 2024) | 8 | 835 |
| Receivables from affiliated companies | 97 | 25 |
| Notes receivable from affiliated companies | 1,053 | — |
| Inventory (includes $509 at 2025 and $494 at 2024 related to VIEs) | 2,107 | 2,086 |
| Regulatory assets (includes $108 at 2025 and 2024 related to VIEs) | 1,537 | 1,647 |
| Other (includes $36 at 2025 and $75 at 2024 related to VIEs) | 207 | 182 |
| Total current assets | 6,551 | 5,555 |
| Property, Plant and Equipment | ||
| Cost | 73,776 | 72,560 |
| Accumulated depreciation and amortization | (24,105) | (23,586) |
| Net property, plant and equipment | 49,671 | 48,974 |
| Other Noncurrent Assets | ||
| Goodwill | 3,655 | 3,655 |
| Regulatory assets (includes $1,488 at 2025 and $1,516 at 2024 related to VIEs) | 6,641 | 6,618 |
| Nuclear decommissioning trust funds | 4,869 | 4,967 |
| Operating lease right-of-use assets, net | 678 | 625 |
| Other | 1,280 | 1,242 |
| Total other noncurrent assets | 17,123 | 17,107 |
| Total Assets | $73,345 | $71,636 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities | ||
| Accounts payable (includes $201 at 2025 and $208 at 2024 related to VIEs) | $1,693 | $2,170 |
| Accounts payable to affiliated companies | 690 | 507 |
| Notes payable to affiliated companies | — | 1,077 |
| Taxes accrued | 228 | 312 |
| Interest accrued | 254 | 232 |
| Current maturities of long-term debt (includes $100 at 2025 and $502 at 2024 related to VIEs) | 1,816 | 1,517 |
| Asset retirement obligations | 227 | 231 |
| Regulatory liabilities | 433 | 522 |
| Other | 719 | 792 |
| Total current liabilities | 6,060 | 7,360 |
| Long-Term Debt (includes $1,530 at 2025 and $1,582 at 2024 related to VIEs) | 24,917 | 22,829 |
| Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
| Other Noncurrent Liabilities | ||
| Deferred income taxes | 5,353 | 5,263 |
| Asset retirement obligations | 4,328 | 4,317 |
| Regulatory liabilities | 5,188 | 5,258 |
| Operating lease liabilities | 621 | 557 |
| Accrued pension and other post-retirement benefit costs | 251 | 254 |
| Investment tax credits | 384 | 385 |
| Other (includes $11 at 2024 related to VIEs) | 343 | 357 |
| Total other noncurrent liabilities | 16,468 | 16,391 |
| Commitments and Contingencies | ||
| Equity | ||
| Common Stock, $0.01 par value, 100 shares authorized and outstanding at 2025 and 2024 | — | — |
| Additional paid-in capital | 12,130 | 11,830 |
| Retained earnings | 13,630 | 13,086 |
| Accumulated other comprehensive loss | (10) | (10) |
| Total equity | 25,750 | 24,906 |
| Total Liabilities and Equity | $73,345 | $71,636 |
FINANCIAL STATEMENTS
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (in millions) | 2025 | 2024 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $546 | $435 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, amortization and accretion (including amortization of nuclear fuel) | 744 | 669 |
| Equity component of AFUDC | (24) | (18) |
| Deferred income taxes | 68 | (5) |
| Payments for asset retirement obligations | (40) | (68) |
| (Increase) decrease in | ||
| Receivables | 120 | 103 |
| Receivables from affiliated companies | (72) | 87 |
| Inventory | (12) | (86) |
| Other current assets | 70 | 232 |
| Increase (decrease) in | ||
| Accounts payable | (411) | (79) |
| Accounts payable to affiliated companies | 183 | 84 |
| Taxes accrued | (76) | (57) |
| Other current liabilities | (90) | (36) |
| Other assets | (118) | (134) |
| Other liabilities | 11 | 27 |
| Net cash provided by operating activities | 899 | 1,154 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capital expenditures | (1,409) | (1,373) |
| Purchases of debt and equity securities | (820) | (381) |
| Proceeds from sales and maturities of debt and equity securities | 836 | 424 |
| Notes receivable from affiliated companies | (1,053) | — |
| Other | (85) | (74) |
| Net cash used in investing activities | (2,531) | (1,404) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from the issuance of long-term debt | 2,857 | 498 |
| Payments for the redemption of long-term debt | (474) | (73) |
| Notes payable to affiliated companies | (1,077) | (223) |
| Capital contribution from parent | 300 | — |
| Other | (2) | (1) |
| Net cash provided by financing activities | 1,604 | 201 |
| Net decrease in cash, cash equivalents and restricted cash | (28) | (49) |
| Cash, cash equivalents and restricted cash at beginning of period | 160 | 135 |
| Cash, cash equivalents and restricted cash at end of period | $132 | $86 |
| Supplemental Disclosures: | ||
| Significant non-cash transactions: | ||
| Accrued capital expenditures | $748 | $680 |
FINANCIAL STATEMENTS
| Three Months Ended March 31, 2024 and 2025 | ||||||
|---|---|---|---|---|---|---|
| Accumulated Other Comprehensive Loss | ||||||
| Net · Net Unrealized | ||||||
| Additional · Losses on · Gains (Losses) on · Pension and | ||||||
| Paid-in | Retained | Cash Flow | Available-for- | OPEB | Total | |
| Capital | Earnings | Hedges | Sale Securities | Adjustments | Equity | |
| Balance at December 31, 2023 | $11,830 | $11,040 | $(1) | $(5) | $(4) | $22,860 |
| Net income | — | 435 | — | — | — | 435 |
| Balance at March 31, 2024 | $11,830 | $11,475 | $(1) | $(5) | $(4) | $23,295 |
| Balance at December 31, 2024 | $11,830 | $13,086 | $(1) | $(5) | $(4) | $24,906 |
| Net income | — | 546 | — | — | — | 546 |
| Capital contribution from parent | 300 | — | — | — | — | 300 |
| Other | — | (2) | — | — | — | (2) |
| Balance at March 31, 2025 | $12,130 | $13,630 | $(1) | $(5) | $(4) | $25,750 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.