DUKE ENERGY FLORIDA, LLC

For the period ended Sep 30, 2025. Filed Nov 7, 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.

Sep 30, 2025 · Filed Nov 7, 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 · Nine Months Ended
	September 30,		September 30,
(in millions)	2025	2024	2025	2024
Operating Revenues
Regulated electric	$561	$497	$1,546	$1,431
Regulated natural gas	118	108	553	460
Total operating revenues	679	605	2,099	1,891
Operating Expenses
Fuel used in electric generation and purchased power	175	146	485	416
Cost of natural gas	12	18	148	100
Operation, maintenance and other	127	131	366	378
Depreciation and amortization	120	102	353	297
Property and other taxes	109	99	326	303
Total operating expenses	543	496	1,678	1,494
Operating Income	136	109	421	397
Other Income and Expenses, net	7	2	18	12
Interest Expense	52	52	150	144
Income Before Income Taxes	91	59	289	265
Income Tax Expense	13	7	47	42
Net Income and Comprehensive Income	$78	$52	$242	$223

FINANCIAL STATEMENTS

(in millions)	September 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$14	$24
Receivables (net of allowance for doubtful accounts of $51 at 2025 and $43 at 2024)	431	447
Receivables from affiliated companies	11	11
Notes receivable from affiliated companies	167	28
Inventory	182	183
Regulatory assets	68	88
Other	45	30
Total current assets	918	811
Property, Plant and Equipment
Cost	14,435	13,918
Accumulated depreciation and amortization	(3,763)	(3,674)
Net property, plant and equipment	10,672	10,244
Other Noncurrent Assets
Goodwill	920	920
Regulatory assets	667	705
Operating lease right-of-use assets, net	6	6
Other	89	82
Total other noncurrent assets	1,682	1,713
Total Assets	$13,272	$12,768
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$266	$313
Accounts payable to affiliated companies	73	52
Notes payable to affiliated companies	—	162
Taxes accrued	305	363
Interest accrued	58	49
Current maturities of long-term debt	140	245
Asset retirement obligations	8	8
Regulatory liabilities	54	34
Other	91	67
Total current liabilities	995	1,293
Long-Term Debt	4,349	3,895
Long-Term Debt Payable to Affiliated Companies	25	25
Other Noncurrent Liabilities
Deferred income taxes	1,322	1,314
Asset retirement obligations	125	131
Regulatory liabilities	464	465
Operating lease liabilities	5	6
Accrued pension and other post-retirement benefit costs	93	89
Other	92	91
Total other noncurrent liabilities	2,101	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	3,219	3,118
Retained earnings	1,821	1,579
Total equity	5,802	5,459
Total Liabilities and Equity	$13,272	$12,768

FINANCIAL STATEMENTS

	Nine Months Ended
	September 30,
(in millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$242	$223
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	356	300
Equity component of AFUDC	(12)	(4)
Deferred income taxes	(14)	30
Contributions to qualified pension plans	—	(5)
Payments for asset retirement obligations	(4)	(5)
(Increase) decrease in
Receivables	15	47
Receivables from affiliated companies	—	57
Inventory	1	6
Other current assets	37	57
Increase (decrease) in
Accounts payable	(24)	(32)
Accounts payable to affiliated companies	21	(9)
Taxes accrued	(57)	(69)
Other current liabilities	56	26
Other assets	(29)	44
Other liabilities	32	(43)
Net cash provided by operating activities	620	623
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(709)	(640)
Notes receivable from affiliated companies	(139)	(199)
Other	(65)	(29)
Net cash used in investing activities	(913)	(868)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	496	645
Payments for the redemption of long-term debt	(150)	—
Notes payable to affiliated companies	(162)	(415)
Contributions from parent	100	—
Other	(1)	(1)
Net cash provided by financing activities	283	229
Net decrease in cash and cash equivalents	(10)	(16)
Cash and cash equivalents at beginning of period	24	24
Cash and cash equivalents at end of period	$14	$8
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$87	$94

FINANCIAL STATEMENTS

	Three Months Ended September 30, 2024 and 2025
Additional
	Common	Paid-in	Retained	Total
(in millions)	Stock	Capital	Earnings	Equity
Balance at June 30, 2024	$762	$3,119	$1,409	$5,290
Net income	—	—	52	52
Balance at September 30, 2024	$762	$3,119	$1,461	$5,342
Balance at June 30, 2025	$762	$3,119	$1,743	$5,624
Net income	—	—	78	78
Contributions from parent	—	100	—	100
Balance at September 30, 2025	$762	$3,219	$1,821	$5,802
	Nine Months Ended September 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	—	—	223	223
Other	—	19	—	19
Balance at September 30, 2024	$762	$3,119	$1,461	$5,342
Balance at December 31, 2024	$762	$3,118	$1,579	$5,459
Net income	—	—	242	242
Contributions from parent	—	100	—	100
Other	—	1	—	1
Balance at September 30, 2025	$762	$3,219	$1,821	$5,802

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.