DUKE ENERGY FLORIDA, LLC
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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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, 2025 · Filed Aug 5, 2025
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 · Six Months Ended | ||||
|---|---|---|---|---|
| June 30, | June 30, | |||
| (in millions) | 2025 | 2024 | 2025 | 2024 |
| Operating Revenues | $1,885 | $1,716 | $3,329 | $3,152 |
| Operating Expenses | ||||
| Fuel used in electric generation and purchased power | 451 | 605 | 832 | 1,128 |
| Operation, maintenance and other | 500 | 256 | 786 | 507 |
| Depreciation and amortization | 290 | 262 | 564 | 510 |
| Property and other taxes | 130 | 117 | 242 | 223 |
| Total operating expenses | 1,371 | 1,240 | 2,424 | 2,368 |
| Gains on Sales of Other Assets and Other, net | — | — | 1 | 1 |
| Operating Income | 514 | 476 | 906 | 785 |
| Other Income and Expenses, net | 27 | 22 | 45 | 46 |
| Interest Expense | 116 | 114 | 234 | 225 |
| Income Before Income Taxes | 425 | 384 | 717 | 606 |
| Income Tax Expense | 81 | 75 | 139 | 118 |
| Net Income | $344 | $309 | $578 | $488 |
| Other Comprehensive Loss, net of tax | ||||
| Unrealized losses on available-for-sale securities | (1) | — | (1) | — |
| Comprehensive Income | $343 | $309 | $577 | $488 |
FINANCIAL STATEMENTS
| (in millions) | June 30, 2025 | December 31, 2024 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $16 | $33 |
| Receivables (net of allowance for doubtful accounts of $28 at 2025 and $29 at 2024) | 801 | 544 |
| Receivables of VIEs | 4 | — |
| Receivables from affiliated companies | 72 | 21 |
| Inventory (includes $548 at 2025 and $494 at 2024 related to VIEs) | 767 | 745 |
| Regulatory assets (includes $61 at 2025 and 2024 related to VIEs) | 562 | 1,022 |
| Other (includes $28 at 2025 and $35 at 2024 related to VIEs) | 85 | 227 |
| Total current assets | 2,307 | 2,592 |
| Property, Plant and Equipment | ||
| Cost | 31,665 | 30,490 |
| Accumulated depreciation and amortization | (8,034) | (7,650) |
| Net property, plant and equipment | 23,631 | 22,840 |
| Other Noncurrent Assets | ||
| Regulatory assets (includes $715 at 2025 and $741 at 2024 related to VIEs) | 2,105 | 2,064 |
| Nuclear decommissioning trust funds | 308 | 331 |
| Operating lease right-of-use assets, net | 250 | 277 |
| Other | 491 | 465 |
| Total other noncurrent assets | 3,154 | 3,137 |
| Total Assets | $29,092 | $28,569 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities | ||
| Accounts payable (includes $241 at 2025 and $208 at 2024 related to VIEs) | $977 | $1,418 |
| Accounts payable to affiliated companies | 63 | 67 |
| Notes payable to affiliated companies | 67 | 466 |
| Taxes accrued | 339 | 60 |
| Interest accrued | 86 | 86 |
| Current maturities of long-term debt (includes $60 at 2025 and $59 at 2024 related to VIEs) | 1,235 | 534 |
| Asset retirement obligations | 1 | 1 |
| Regulatory liabilities | 83 | 174 |
| Other | 352 | 342 |
| Total current liabilities | 3,203 | 3,148 |
| Long-Term Debt (includes $741 at 2025 and $773 at 2024 related to VIEs) | 9,785 | 9,814 |
| Other Noncurrent Liabilities | ||
| Deferred income taxes | 3,010 | 3,024 |
| Asset retirement obligations | 196 | 213 |
| Regulatory liabilities | 660 | 688 |
| Operating lease liabilities | 197 | 225 |
| Accrued pension and other post-retirement benefit costs | 88 | 92 |
| Investment tax credits | 241 | 241 |
| Other | 156 | 143 |
| Total other noncurrent liabilities | 4,548 | 4,626 |
| Commitments and Contingencies | ||
| Equity | ||
| Member's equity | 11,562 | 10,986 |
| Accumulated other comprehensive loss | (6) | (5) |
| Total equity | 11,556 | 10,981 |
| Total Liabilities and Equity | $29,092 | $28,569 |
FINANCIAL STATEMENTS
| Six Months Ended | ||
|---|---|---|
| June 30, | ||
| (in millions) | 2025 | 2024 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $578 | $488 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, amortization and accretion | 902 | 592 |
| Equity component of AFUDC | (11) | (8) |
| Deferred income taxes | (26) | (37) |
| Payments for asset retirement obligations | (19) | (42) |
| (Increase) decrease in | ||
| Receivables | (220) | (125) |
| Receivables from affiliated companies | (51) | 234 |
| Inventory | (12) | (30) |
| Other current assets | 277 | 298 |
| Increase (decrease) in | ||
| Accounts payable | (563) | 36 |
| Accounts payable to affiliated companies | (4) | (22) |
| Taxes accrued | 288 | 99 |
| Other current liabilities | (86) | (49) |
| Other assets | (22) | (44) |
| Other liabilities | (3) | 47 |
| Net cash provided by operating activities | 1,028 | 1,437 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capital expenditures | (1,218) | (1,251) |
| Purchases of debt and equity securities | (111) | (67) |
| Proceeds from sales and maturities of debt and equity securities | 134 | 117 |
| Other | (126) | (138) |
| Net cash used in investing activities | (1,321) | (1,339) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from the issuance of long-term debt | 704 | 177 |
| Payments for the redemption of long-term debt | (35) | (365) |
| Notes payable to affiliated companies | (399) | 97 |
| Other | (1) | (1) |
| Net cash provided by (used in) financing activities | 269 | (92) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (24) | 6 |
| Cash, cash equivalents and restricted cash at beginning of period | 75 | 67 |
| Cash, cash equivalents and restricted cash at end of period | $51 | $73 |
| Supplemental Disclosures: | ||
| Significant non-cash transactions: | ||
| Accrued capital expenditures | $521 | $455 |
FINANCIAL STATEMENTS
| Three Months Ended June 30, 2024 and 2025 | |||
|---|---|---|---|
| Accumulated | |||
| Other | |||
| Comprehensive | |||
| Income (Loss) | |||
| Net Unrealized | |||
| Gains (Losses) on | |||
| Member's | Available-for-Sale | Total | |
| (in millions) | Equity | Securities | Equity |
| Balance at March 31, 2024 | $10,227 | $(5) | $10,222 |
| Net income | 309 | — | 309 |
| Other | 19 | — | 19 |
| Balance at June 30, 2024 | $10,555 | $(5) | $10,550 |
| Balance at March 31, 2025 | $11,218 | $(5) | $11,213 |
| Net income | 344 | — | 344 |
| Other comprehensive income (loss) | — | (1) | (1) |
| Balance at June 30, 2025 | $11,562 | $(6) | $11,556 |
| Six Months Ended June 30, 2024 and 2025 | |||
| Accumulated | |||
| Other | |||
| Comprehensive | |||
| Income (Loss) | |||
| Net Unrealized | |||
| Gains (Losses) on | |||
| Member's | Available-for-Sale | Total | |
| (in millions) | Equity | Securities | Equity |
| Balance at December 31, 2023 | $10,048 | $(5) | $10,043 |
| Net income | 488 | — | 488 |
| Other | 19 | — | 19 |
| Balance at June 30, 2024 | $10,555 | $(5) | $10,550 |
| Balance at December 31, 2024 | $10,986 | $(5) | $10,981 |
| Net income | 578 | — | 578 |
| Other comprehensive income (loss) | — | (1) | (1) |
| Other | (2) | — | (2) |
| Balance at June 30, 2025 | $11,562 | $(6) | $11,556 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.