DUKE ENERGY FLORIDA, LLC

For the period ended Jun 30, 2025. Filed Aug 5, 2025.

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.

Jun 30, 2025 · Filed Aug 5, 2025

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)	2025	2024	2025	2024
Operating Revenues
Regulated electric	$498	$476	$985	$934
Regulated natural gas	156	132	435	352
Total operating revenues	654	608	1,420	1,286
Operating Expenses
Fuel used in electric generation and purchased power	161	132	310	270
Cost of natural gas	35	21	136	82
Operation, maintenance and other	115	121	239	247
Depreciation and amortization	121	96	233	195
Property and other taxes	101	102	217	204
Total operating expenses	533	472	1,135	998
Operating Income	121	136	285	288
Other Income and Expenses, net	6	4	11	10
Interest Expense	51	47	98	92
Income Before Income Taxes	76	93	198	206
Income Tax Expense	12	16	34	35
Net Income and Comprehensive Income	$64	$77	$164	$171

FINANCIAL STATEMENTS

(in millions)	June 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$10	$24
Receivables (net of allowance for doubtful accounts of $41 at 2025 and $43 at 2024)	442	447
Receivables from affiliated companies	10	11
Notes receivable from affiliated companies	11	28
Inventory	181	183
Regulatory assets	66	88
Other	29	30
Total current assets	749	811
Property, Plant and Equipment
Cost	14,226	13,918
Accumulated depreciation and amortization	(3,692)	(3,674)
Net property, plant and equipment	10,534	10,244
Other Noncurrent Assets
Goodwill	920	920
Regulatory assets	699	705
Operating lease right-of-use assets, net	6	6
Other	88	82
Total other noncurrent assets	1,713	1,713
Total Assets	$12,996	$12,768
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$271	$313
Accounts payable to affiliated companies	70	52
Notes payable to affiliated companies	129	162
Taxes accrued	250	363
Interest accrued	50	49
Current maturities of long-term debt	140	245
Asset retirement obligations	7	8
Regulatory liabilities	53	34
Other	70	67
Total current liabilities	1,040	1,293
Long-Term Debt	4,199	3,895
Long-Term Debt Payable to Affiliated Companies	25	25
Other Noncurrent Liabilities
Deferred income taxes	1,320	1,314
Asset retirement obligations	132	131
Regulatory liabilities	467	465
Operating lease liabilities	6	6
Accrued pension and other post-retirement benefit costs	92	89
Other	91	91
Total other noncurrent liabilities	2,108	2,096
Commitments and Contingencies
Equity
Common Stock, $8.50 par value, 120 million shares authorized; 90 million shares outstanding at 2025 and 2024	762	762
Additional paid-in capital	3,119	3,118
Retained earnings	1,743	1,579
Total equity	5,624	5,459
Total Liabilities and Equity	$12,996	$12,768

FINANCIAL STATEMENTS

	Six Months Ended
	June 30,
(in millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$164	$171
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	235	197
Equity component of AFUDC	(7)	(2)
Deferred income taxes	(10)	17
Payments for asset retirement obligations	(3)	(3)
(Increase) decrease in
Receivables	5	31
Receivables from affiliated companies	1	58
Inventory	2	(11)
Other current assets	44	82
Increase (decrease) in
Accounts payable	(24)	(21)
Accounts payable to affiliated companies	18	(16)
Taxes accrued	(113)	(111)
Other current liabilities	22	(6)
Other assets	(28)	34
Other liabilities	15	(38)
Net cash provided by operating activities	321	382
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(471)	(417)
Notes receivable from affiliated companies	17	(319)
Other	(45)	(19)
Net cash used in investing activities	(499)	(755)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	347	648
Payments for the redemption of long-term debt	(150)	—
Notes payable to affiliated companies	(32)	(284)
Other	(1)	(4)
Net cash provided by financing activities	164	360
Net decrease in cash and cash equivalents	(14)	(13)
Cash and cash equivalents at beginning of period	24	24
Cash and cash equivalents at end of period	$10	$11
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$92	$93

FINANCIAL STATEMENTS

	Three Months Ended June 30, 2024 and 2025
Additional
	Common	Paid-in	Retained	Total
(in millions)	Stock	Capital	Earnings	Equity
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
Balance at March 31, 2025	$762	$3,119	$1,679	$5,560
Net income	—	—	64	64
Balance at June 30, 2025	$762	$3,119	$1,743	$5,624
	Six Months Ended June 30, 2024 and 2025
Additional
	Common	Paid-in	Retained	Total
(in millions)	Stock	Capital	Earnings	Equity
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
Balance at December 31, 2024	$762	$3,118	$1,579	$5,459
Net income	—	—	164	164
Other	—	1	—	1
Balance at June 30, 2025	$762	$3,119	$1,743	$5,624

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