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 Progress, LLC Financial Statements

FINANCIAL STATEMENTS

Three Months Ended · Nine Months Ended
	September 30,		September 30,
(in millions)	2025	2024	2025	2024
Operating Revenues	$1,913	$1,914	$5,612	$5,338
Operating Expenses
Fuel used in electric generation and purchased power	629	679	1,928	1,896
Operation, maintenance and other	362	376	1,100	1,077
Depreciation and amortization	373	354	1,049	999
Property and other taxes	54	43	159	144
Impairment of assets and other charges	(2)	(3)	(2)	6
Total operating expenses	1,416	1,449	4,234	4,122
Gains on Sales of Other Assets and Other, net	1	1	1	2
Operating Income	498	466	1,379	1,218
Other Income and Expenses, net	55	34	142	107
Interest Expense	125	127	392	370
Income Before Income Taxes	428	373	1,129	955
Income Tax Expense	56	48	151	135
Net Income and Comprehensive Income	$372	$325	$978	$820

FINANCIAL STATEMENTS

(in millions)	September 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$55	$24
Receivables (net of allowance for doubtful accounts of $39 at 2025 and $10 at 2024)	858	160
Receivables of VIEs (net of allowance for doubtful accounts of $34 at 2024)	5	835
Receivables from affiliated companies	33	10
Notes receivable from affiliated companies	628	—
Inventory	1,380	1,341
Regulatory assets (includes $70 at 2025 and $47 at 2024 related to VIEs)	663	626
Other (includes $20 at 2025 and $40 at 2024 related to VIEs)	208	104
Total current assets	3,830	3,100
Property, Plant and Equipment
Cost	44,082	42,060
Accumulated depreciation and amortization	(16,792)	(15,930)
Net property, plant and equipment	27,290	26,130
Other Noncurrent Assets
Regulatory assets (includes $1,176 at 2025 and $775 at 2024 related to VIEs)	4,412	4,555
Nuclear decommissioning trust funds	5,202	4,636
Operating lease right-of-use assets, net	395	348
Other	778	724
Total other noncurrent assets	10,787	10,263
Total Assets	$41,907	$39,493
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$718	$749
Accounts payable to affiliated companies	448	306
Notes payable to affiliated companies	—	611
Taxes accrued	157	394
Interest accrued	88	122
Current maturities of long-term debt (includes $41 at 2025 and $443 at 2024 related to VIEs)	85	983
Asset retirement obligations	206	230
Regulatory liabilities	259	348
Other	326	427
Total current liabilities	2,287	4,170
Long-Term Debt (includes $1,226 at 2025 and $809 at 2024 related to VIEs)	13,662	11,371
Long-Term Debt Payable to Affiliated Companies	150	150
Other Noncurrent Liabilities
Deferred income taxes	2,671	2,344
Asset retirement obligations	4,081	4,104
Regulatory liabilities	4,781	4,570
Operating lease liabilities	390	332
Accrued pension and other post-retirement benefit costs	137	141
Investment tax credits	152	144
Other (includes $11 at 2024 related to VIEs)	290	196
Total other noncurrent liabilities	12,502	11,831
Commitments and Contingencies
Equity
Member's Equity	13,306	11,971
Total Liabilities and Equity	$41,907	$39,493

FINANCIAL STATEMENTS

	Nine Months Ended
	September 30,
(in millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$978	$820
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of nuclear fuel)	1,197	1,144
Equity component of AFUDC	(70)	(44)
Impairment of assets and other charges	(2)	6
Deferred income taxes	315	(32)
Contributions to qualified pension plans	—	(14)
Payments for asset retirement obligations	(127)	(153)
(Increase) decrease in
Receivables	121	(15)
Receivables from affiliated companies	(23)	2
Inventory	(38)	(93)
Other current assets	(223)	288
Increase (decrease) in
Accounts payable	(56)	(74)
Accounts payable to affiliated companies	199	(10)
Taxes accrued	(236)	17
Other current liabilities	(80)	14
Other assets	23	(101)
Other liabilities	92	117
Net cash provided by operating activities	2,070	1,872
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(2,372)	(2,036)
Purchases of debt and equity securities	(3,053)	(1,452)
Proceeds from sales and maturities of debt and equity securities	3,052	1,451
Notes receivable from affiliated companies	(628)	—
Other	(138)	(130)
Net cash used in investing activities	(3,139)	(2,167)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	2,615	670
Payments for the redemption of long-term debt	(1,228)	(67)
Notes payable to affiliated companies	(611)	(281)
Contributions from parent	300	—
Other	(1)	—
Net cash provided by financing activities	1,075	322
Net increase in cash, cash equivalents and restricted cash	6	27
Cash, cash equivalents and restricted cash at beginning of period	69	51
Cash, cash equivalents and restricted cash at end of period	$75	$78
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$438	$256

FINANCIAL STATEMENTS

	Three Months Ended
	September 30, 2024 and 2025
(in millions)	Member's Equity
Balance at June 30, 2024	$11,302
Net income	325
Balance at September 30, 2024	$11,627
Balance at June 30, 2025	$12,934
Net income	372
Balance at September 30, 2025	$13,306
	Nine Months Ended
	September 30, 2024 and 2025
(in millions)	Member's Equity
Balance at December 31, 2023	$10,807
Net income	820
Balance at September 30, 2024	$11,627
Balance at December 31, 2024	$11,971
Net income	978
Contributions from parent	300
Equitization of certain intercompany balances with affiliates	57
Balance at September 30, 2025	$13,306

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.