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

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Contents

Duke Energy Progress, LLC Financial Statements

FINANCIAL STATEMENTS

Three Months Ended · Six Months Ended
	June 30,		June 30,
(in millions)	2025	2024	2025	2024
Operating Revenues	$1,681	$1,636	$3,699	$3,424
Operating Expenses
Fuel used in electric generation and purchased power	574	597	1,299	1,217
Operation, maintenance and other	340	326	738	701
Depreciation and amortization	319	306	676	645
Property and other taxes	45	50	105	101
Impairment of assets and other charges	—	9	—	9
Total operating expenses	1,278	1,288	2,818	2,673
Gains on Sales of Other Assets and Other, net	—	—	—	1
Operating Income	403	348	881	752
Other Income and Expenses, net	50	37	87	73
Interest Expense	139	123	267	243
Income Before Income Taxes	314	262	701	582
Income Tax Expense	39	39	95	87
Net Income and Comprehensive Income	$275	$223	$606	$495

FINANCIAL STATEMENTS

(in millions)	June 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$24	$24
Receivables (net of allowance for doubtful accounts of $42 at 2025 and $10 at 2024)	934	160
Receivables of VIEs (net of allowance for doubtful accounts of $34 at 2024)	5	835
Receivables from affiliated companies	31	10
Notes receivable from affiliated companies	949	—
Inventory	1,323	1,341
Regulatory assets (includes $47 at 2025 and 2024 related to VIEs)	614	626
Other (includes $37 at 2025 and $40 at 2024 related to VIEs)	159	104
Total current assets	4,039	3,100
Property, Plant and Equipment
Cost	43,320	42,060
Accumulated depreciation and amortization	(16,550)	(15,930)
Net property, plant and equipment	26,770	26,130
Other Noncurrent Assets
Regulatory assets (includes $752 at 2025 and $775 at 2024 related to VIEs)	4,654	4,555
Nuclear decommissioning trust funds	4,922	4,636
Operating lease right-of-use assets, net	403	348
Other	770	724
Total other noncurrent assets	10,749	10,263
Total Assets	$41,558	$39,493
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$581	$749
Accounts payable to affiliated companies	391	306
Notes payable to affiliated companies	—	611
Taxes accrued	107	394
Interest accrued	156	122
Current maturities of long-term debt (includes $40 at 2025 and $443 at 2024 related to VIEs)	582	983
Asset retirement obligations	222	230
Regulatory liabilities	272	348
Other	310	427
Total current liabilities	2,621	4,170
Long-Term Debt (includes $789 at 2025 and $809 at 2024 related to VIEs)	13,483	11,371
Long-Term Debt Payable to Affiliated Companies	150	150
Other Noncurrent Liabilities
Deferred income taxes	2,503	2,344
Asset retirement obligations	4,123	4,104
Regulatory liabilities	4,799	4,570
Operating lease liabilities	404	332
Accrued pension and other post-retirement benefit costs	137	141
Investment tax credits	142	144
Other (includes $11 at 2024 related to VIEs)	262	196
Total other noncurrent liabilities	12,370	11,831
Commitments and Contingencies
Equity
Member's Equity	12,934	11,971
Total Liabilities and Equity	$41,558	$39,493

FINANCIAL STATEMENTS

	Six Months Ended
	June 30,
(in millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$606	$495
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of nuclear fuel)	773	738
Equity component of AFUDC	(41)	(27)
Impairment of assets and other charges	—	9
Deferred income taxes	132	(33)
Payments for asset retirement obligations	(81)	(102)
(Increase) decrease in
Receivables	43	(99)
Receivables from affiliated companies	(21)	12
Inventory	18	(76)
Other current assets	(89)	185
Increase (decrease) in
Accounts payable	(60)	(70)
Accounts payable to affiliated companies	142	(47)
Taxes accrued	(287)	(27)
Other current liabilities	(41)	79
Other assets	(49)	(86)
Other liabilities	90	34
Net cash provided by operating activities	1,135	985
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1,524)	(1,373)
Purchases of debt and equity securities	(1,527)	(922)
Proceeds from sales and maturities of debt and equity securities	1,526	921
Notes receivable from affiliated companies	(949)	—
Other	(85)	(54)
Net cash used in investing activities	(2,559)	(1,428)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	2,156	667
Payments for the redemption of long-term debt	(423)	(41)
Notes payable to affiliated companies	(611)	(164)
Capital contribution from parent	300	—
Other	(1)	—
Net cash provided by financing activities	1,421	462
Net (decrease) increase in cash, cash equivalents and restricted cash	(3)	19
Cash, cash equivalents and restricted cash at beginning of period	69	51
Cash, cash equivalents and restricted cash at end of period	$66	$70
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$306	$274

FINANCIAL STATEMENTS

	Three Months Ended
	June 30, 2024 and 2025
(in millions)	Member's Equity
Balance at March 31, 2024	$11,079
Net income	223
Balance at June 30, 2024	$11,302
Balance at March 31, 2025	$12,601
Net income	275
Equitization of certain intercompany balances with affiliates	57
Other	1
Balance at June 30, 2025	$12,934
	Six Months Ended
	June 30, 2024 and 2025
(in millions)	Member's Equity
Balance at December 31, 2023	$10,807
Net income	495
Balance at June 30, 2024	$11,302
Balance at December 31, 2024	$11,971
Net income	606
Capital contribution from parent	300
Equitization of certain intercompany balances with affiliates	57
Balance at June 30, 2025	$12,934

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.