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

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Piedmont Natural Gas Company, Inc. Financial Statements

FINANCIAL STATEMENTS

Three Months Ended · Six Months Ended
	June 30,		June 30,
(in millions)	2025	2024	2025	2024
Operating Revenues
Regulated natural gas	$328	$237	$1,178	$906
Nonregulated natural gas and other	7	7	14	14
Operating Revenues	$335	$244	$1,192	$920
Operating Expenses
Cost of natural gas	124	58	396	228
Operation, maintenance and other	103	85	199	180
Depreciation and amortization	71	64	141	126
Property and other taxes	19	16	37	31
Total operating expenses	317	223	773	565
Operating Income	18	21	419	355
Other Income and Expenses
Equity in earnings of unconsolidated affiliates	1	2	3	4
Other income and expenses, net	11	15	22	30
Total other income and expenses	12	17	25	34
Interest Expense	48	43	95	88
(Loss) Income Before Income Taxes	(18)	(5)	349	301
Income Tax (Benefit) Expense	(8)	(1)	68	59
Net (Loss) Income and Comprehensive (Loss) Income	$(10)	$(4)	$281	$242

FINANCIAL STATEMENTS

(in millions)	June 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$2	$2
Receivables (net of allowance for doubtful accounts of $14 at 2025 and $10 at 2024)	195	368
Receivables from affiliated companies	11	16
Inventory	51	78
Regulatory assets	131	158
Other	78	11
Total current assets	468	633
Property, Plant and Equipment
Cost	13,129	12,780
Accumulated depreciation and amortization	(2,512)	(2,432)
Net property, plant and equipment	10,617	10,348
Other Noncurrent Assets
Goodwill	49	49
Regulatory assets	446	421
Operating lease right-of-use assets, net	3	4
Investments in equity method unconsolidated affiliates	75	76
Other	273	268
Total other noncurrent assets	846	818
Total Assets	$11,931	$11,799
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$195	$237
Accounts payable to affiliated companies	48	26
Notes payable to affiliated companies	682	739
Taxes accrued	43	84
Interest accrued	45	45
Current maturities of long-term debt	205	205
Regulatory liabilities	7	68
Other	80	76
Total current liabilities	1,305	1,480
Long-Term Debt	3,799	3,798
Other Noncurrent Liabilities
Deferred income taxes	1,048	1,018
Asset retirement obligations	29	29
Regulatory liabilities	959	956
Operating lease liabilities	2	7
Accrued pension and other post-retirement benefit costs	6	7
Other	147	150
Total other noncurrent liabilities	2,191	2,167
Commitments and Contingencies
Equity
Common stock, no par value: 100 shares authorized and outstanding at 2025 and 2024	1,635	1,635
Retained earnings	3,000	2,718
Total Piedmont Natural Gas Company, Inc. stockholder's equity	4,635	4,353
Noncontrolling interests	1	1
Total equity	4,636	4,354
Total Liabilities and Equity	$11,931	$11,799

FINANCIAL STATEMENTS

	Six Months Ended
	June 30,
(in millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$281	$242
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	143	127
Equity component of AFUDC	(8)	(13)
Deferred income taxes	18	21
Equity in earnings from unconsolidated affiliates	(3)	(4)
(Increase) decrease in
Receivables	169	162
Receivables from affiliated companies	5	(2)
Inventory	27	65
Other current assets	(33)	(38)
Increase (decrease) in
Accounts payable	(55)	(44)
Accounts payable to affiliated companies	22	4
Taxes accrued	(42)	(53)
Other current liabilities	(61)	(8)
Other assets	(7)	(10)
Other liabilities	(3)	8
Net cash provided by operating activities	453	457
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(380)	(571)
Other	(15)	(29)
Net cash used in investing activities	(395)	(600)
CASH FLOWS FROM FINANCING ACTIVITIES
Notes payable to affiliated companies	(57)	146
Other	(1)	—
Net cash (used in) provided by financing activities	(58)	146
Net increase in cash and cash equivalents	—	3
Cash and cash equivalents at beginning of period	2	—
Cash and cash equivalents at end of period	$2	$3
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$127	$159

FINANCIAL STATEMENTS

	Three Months Ended June 30, 2024 and 2025
Total
Piedmont
Natural Gas
	Common	Retained	Company, Inc.	Noncontrolling	Total
(in millions)	Stock	Earnings	Equity	Interests	Equity
Balance at March 31, 2024	$1,635	$2,662	$4,297	$1	$4,298
Net loss	—	(4)	(4)	—	(4)
Balance at June 30, 2024	$1,635	$2,658	$4,293	$1	$4,294
Balance at March 31, 2025	$1,635	$3,009	$4,644	$1	$4,645
Net loss	—	(10)	(10)	—	(10)
Other	—	1	1	—	1
Balance at June 30, 2025	$1,635	$3,000	$4,635	$1	$4,636
	Six Months Ended June 30, 2024 and 2025
Total
Piedmont
Natural Gas
	Common	Retained	Company, Inc.	Noncontrolling	Total
(in millions)	Stock	Earnings	Equity	Interests	Equity
Balance at December 31, 2023	$1,635	$2,416	$4,051	$1	$4,052
Net income	—	242	242	—	242
Balance at June 30, 2024	$1,635	$2,658	$4,293	$1	$4,294
Balance at December 31, 2024	$1,635	$2,718	$4,353	$1	$4,354
Net income	—	281	281	—	281
Other	—	1	1	—	1
Balance at June 30, 2025	$1,635	$3,000	$4,635	$1	$4,636

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.