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$128.10+0.3%Stored close · as of Nov 9, 2026

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Contents

Duke Energy Corporation Financial Statements

Condensed Consolidated Statements of Operations

Three Months Ended · Nine Months Ended
	September 30,		September 30,
(in millions, except per share amounts)	2025	2024	2025	2024
Operating Revenues
Regulated electric	$8,106	$7,775	$22,138	$21,253
Regulated natural gas	361	298	1,928	1,511
Nonregulated electric and other	75	81	233	233
Total operating revenues	8,542	8,154	24,299	22,997
Operating Expenses
Fuel used in electric generation and purchased power	2,289	2,644	6,266	7,207
Cost of natural gas	110	70	642	380
Operation, maintenance and other	1,762	1,409	4,916	4,108
Depreciation and amortization	1,626	1,516	4,721	4,312
Property and other taxes	438	383	1,281	1,162
Impairment of assets and other charges	—	(5)	3	39
Total operating expenses	6,225	6,017	17,829	17,208
Gains on Sales of Other Assets and Other, net	17	7	37	25
Operating Income	2,334	2,144	6,507	5,814
Other Income and Expenses
Equity in earnings of unconsolidated affiliates	16	15	38	53
Other income and expenses, net	182	166	497	502
Total other income and expenses	198	181	535	555
Interest Expense	902	872	2,688	2,513
Income From Continuing Operations Before Income Taxes	1,630	1,453	4,354	3,856
Income Tax Expense From Continuing Operations	176	163	488	481
Income From Continuing Operations	1,454	1,290	3,866	3,375
Income (Loss) From Discontinued Operations, net of tax	—	25	(1)	12
Net Income	1,454	1,315	3,865	3,387
Less: Net Income Attributable to Noncontrolling Interests	33	34	81	68
Net Income Attributable to Duke Energy Corporation	1,421	1,281	3,784	3,319
Less: Preferred Dividends	14	39	41	92
Less: Preferred Redemption Costs	—	$16	$—	$16
Net Income Available to Duke Energy Corporation Common Stockholders	$1,407	$1,226	$3,743	$3,211
Earnings Per Share – Basic and Diluted
Income from continuing operations available to Duke Energy Corporation common stockholders
Basic and Diluted	$1.81	$1.57	$4.81	$4.16
Income from discontinued operations attributable to Duke Energy Corporation common stockholders
Basic and Diluted	$—	$0.03	$—	$0.01
Net income available to Duke Energy Corporation common stockholders
Basic and Diluted	$1.81	$1.60	$4.81	$4.17
Weighted Average Shares Outstanding
Basic	778	772	777	772
Diluted	778	773	777	772

FINANCIAL STATEMENTS

Condensed Consolidated Statements of Comprehensive Income

Three Months Ended · Nine Months Ended
	September 30,		September 30,
(in millions)	2025	2024	2025	2024
Net Income	$1,454	$1,315	$3,865	$3,387
Other Comprehensive Income (Loss), net of tax(a)
Pension and OPEB adjustments	1	1	1	17
Net unrealized (losses) gains on cash flow hedges	(20)	(57)	(24)	60
Reclassification into earnings from cash flow hedges	(2)	(2)	10	(3)
Net unrealized losses on fair value hedges	(6)	(3)	(41)	(24)
Unrealized gains on available-for-sale securities	2	7	4	4
Other Comprehensive (Loss) Income, net of tax	(25)	(54)	(50)	54
Comprehensive Income	1,429	1,261	3,815	3,441
Less: Comprehensive Income Attributable to Noncontrolling Interests	33	34	81	68
Comprehensive Income Attributable to Duke Energy	1,396	1,227	3,734	3,373
Less: Preferred Dividends	14	39	41	92
Less: Preferred Redemption Costs	—	16	—	16
Comprehensive Income Available to Duke Energy Corporation Common Stockholders	$1,382	$1,172	$3,693	$3,265

(a)Net of income tax benefit of $7 million and $16 million for the three months ended September 30, 2025, and 2024, respectively and income tax benefit of $15 million and income tax expense of $16 million for the nine months ended September 30, 2025, and 2024, respectively.

FINANCIAL STATEMENTS

(in millions)	September 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$688	$314
Receivables (net of allowance for doubtful accounts of $199 at 2025 and $122 at 2024)	4,006	2,170
Receivables of VIEs (net of allowance for doubtful accounts of $85 at 2024)	12	1,889
Receivable from sales of Commercial Renewables Disposal Groups	—	551
Inventory (includes $550 at 2025 and $494 at 2024 related to VIEs)	4,494	4,496
Regulatory assets (includes $173 at 2025 and $120 at 2024 related to VIEs)	1,977	2,739
Assets held for sale	47	96
Other (includes $47 at 2025 and $90 at 2024 related to VIEs)	984	695
Total current assets	12,208	12,950
Property, Plant and Equipment
Cost	185,941	178,737
Accumulated depreciation and amortization	(59,246)	(57,111)
Net property, plant and equipment	126,695	121,626
Other Noncurrent Assets
Goodwill	19,010	19,010
Regulatory assets (includes $2,601 at 2025 and $1,705 at 2024 related to VIEs)	14,077	14,220
Nuclear decommissioning trust funds	12,778	11,434
Operating lease right-of-use assets, net	1,211	1,148
Investments in equity method unconsolidated affiliates	323	353
Assets held for sale	2,106	2,095
Other	3,885	3,507
Total other noncurrent assets	53,390	51,767
Total Assets	$192,293	$186,343
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (includes $273 at 2025 and $214 at 2024 related to VIEs)	$4,191	$5,436
Notes payable and commercial paper	2,885	3,584
Taxes accrued	1,141	851
Interest accrued	814	854
Current maturities of long-term debt (includes $115 at 2025 and $1,012 at 2024 related to VIEs)	6,452	4,349
Asset retirement obligations	592	650
Regulatory liabilities	1,229	1,421
Liabilities associated with assets held for sale	57	132
Other	2,044	2,080
Total current liabilities	19,405	19,357
Long-Term Debt (includes $2,760 at 2025 and $1,842 at 2024 related to VIEs)	79,301	76,340
Other Noncurrent Liabilities
Deferred income taxes	12,271	11,424
Asset retirement obligations	9,052	9,338
Regulatory liabilities	15,377	14,521
Operating lease liabilities	1,009	957
Accrued pension and other post-retirement benefit costs	404	434
Investment tax credits	890	894
Liabilities associated with assets held for sale	167	271
Other (includes $27 at 2024 related to VIEs)	1,790	1,551
Total other noncurrent liabilities	40,960	39,390
Commitments and Contingencies
Equity
Preferred stock, Series A, $0.001 par value, 40 million depositary shares authorized and outstanding at 2025 and 2024	973	973
Common stock, $0.001 par value, 2 billion shares authorized; 778 million and 776 million shares outstanding at 2025 and 2024	1	1
Additional paid-in capital	45,592	45,494
Retained earnings	4,718	3,431
Accumulated other comprehensive income	178	228
Total Duke Energy Corporation stockholders' equity	51,462	50,127
Noncontrolling interests	1,165	1,129
Total equity	52,627	51,256
Total Liabilities and Equity	$192,293	$186,343

FINANCIAL STATEMENTS

	Nine Months Ended
	September 30,
(in millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$3,865	$3,387
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	5,744	4,792
Equity component of AFUDC	(236)	(173)
Losses on sales of Commercial Renewables Disposal Groups	4	22
Gains on sales of other assets	(37)	(25)
Impairment of assets and other charges	3	39
Deferred income taxes	940	369
Equity in earnings of unconsolidated affiliates	(38)	(53)
Contributions to qualified pension plans	—	(100)
Payments for asset retirement obligations	(374)	(417)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	—	35
Receivables	83	(22)
Inventory	15	(36)
Other current assets	(456)	742
Increase (decrease) in
Accounts payable	(1,308)	90
Taxes accrued	295	202
Other current liabilities	(224)	(291)
Other assets	(44)	154
Other liabilities	440	236
Net cash provided by operating activities	8,672	8,951
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(9,881)	(9,191)
Contributions to equity method investments	—	(8)
Purchases of debt and equity securities	(7,096)	(3,380)
Proceeds from sales and maturities of debt and equity securities	7,200	3,450
Net proceeds from the sales of Commercial Renewables Disposal Groups	559	—
Other	(758)	(722)
Net cash used in investing activities	(9,976)	(9,851)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the:
Issuance of long-term debt	9,432	7,760
Issuance of common stock	16	26
Redemption of preferred stock	—	(1,000)
Payments for the redemption of long-term debt	(4,626)	(2,833)
Proceeds from the issuance of short-term debt with original maturities greater than 90 days	—	552
Payments for the redemption of short-term debt with original maturities greater than 90 days	(5)	(1,025)
Notes payable and commercial paper	(819)	(42)
Contributions from noncontrolling interests	—	47
Dividends paid	(2,455)	(2,411)
Other	79	(84)
Net cash provided by financing activities	1,622	990
Net increase in cash, cash equivalents and restricted cash	318	90
Cash, cash equivalents and restricted cash at beginning of period	421	357
Cash, cash equivalents and restricted cash at end of period	$739	$447
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$2,090	$1,604

FINANCIAL STATEMENTS

	Three Months Ended September 30, 2024 and 2025
	Accumulated Other Comprehensive
	Income (Loss)
Net · Net Unrealized · Total
Gains · (Losses) Gains · Duke Energy
Common · Additional · (Losses) · on Available- · Pension and · Corporation · Non-
	Preferred	Stock	Common	Paid-in	Retained	on	for-Sale-	OPEB	Stockholders'	controlling	Total
(in millions)	Stock	Shares	Stock	Capital	Earnings	Hedges(a)	Securities	Adjustments	Equity	Interests	Equity
Balance at June 30, 2024	$1,962	772	$1	$45,007	$2,635	$193	$(18)	$(73)	$49,707	$1,099	$50,806
Net income(c)	—	—	—	—	1,226	—	—	—	1,226	34	1,260
Other comprehensive (loss) income	—	—	—	—	—	(62)	7	1	(54)	—	(54)
Common stock issuances, including dividend reinvestment and employee benefits	—	—	—	53	—	—	—	—	53	—	53
Preferred stock, Series B, redemption	(989)	—	—	—	—	—	—	—	(989)	—	(989)
Common stock dividends	—	—	—	—	(806)	—	—	—	(806)	—	(806)
Distributions to noncontrolling interest in subsidiaries	—	—	—	—	—	—	—	—	—	(18)	(18)
Other	—	—	—	—	(3)	—	—	(1)	(4)	1	(3)
Balance at September 30, 2024	$973	772	$1	$45,060	$3,052	$131	$(11)	$(73)	$49,133	$1,116	$50,249
Balance at June 30, 2025	$973	778	$1	$45,573	$4,141	$299	$(15)	$(81)	$50,891	$1,139	$52,030
Net income(c)	—	—	—	—	1,407	—	—	—	1,407	33	1,440
Other comprehensive (loss) income	—	—	—	—	—	(28)	2	1	(25)	—	(25)
Common stock issuances, including dividend reinvestment and employee benefits	—	—	—	20	—	—	—	—	20	—	20
Common stock dividends	—	—	—	—	(831)	—	—	—	(831)	—	(831)
Distributions to noncontrolling interest in subsidiaries	—	—	—	—	—	—	—	—	—	(7)	(7)
Other	—	—	—	(1)	1	—	—	—	—	—	—
Balance at September 30, 2025	$973	778	$1	$45,592	$4,718	$271	$(13)	$(80)	$51,462	$1,165	$52,627

FINANCIAL STATEMENTS

	Nine Months Ended September 30, 2024 and 2025
	Accumulated Other Comprehensive
	Income (Loss)
Net · Net Unrealized · Total
Gains · Gains (Losses) · Duke Energy
Common · Additional · (Losses) · on Available- · Pension and · Corporation · Non-
	Preferred	Stock	Common	Paid-in	Retained	on	for-Sale-	OPEB	Stockholders'	controlling	Total
(in millions)	Stock	Shares	Stock	Capital	Earnings	Hedges(a)	Securities	Adjustments	Equity	Interests	Equity
Balance at December 31, 2023	$1,962	771	$1	$44,920	$2,235	$98	$(15)	$(89)	$49,112	$1,075	$50,187
Net income(c)	—	—	—	—	3,211	—	—	—	3,211	68	3,279
Other comprehensive income	—	—	—	—	—	33	4	17	54	—	54
Common stock issuances, including dividend reinvestment and employee benefits	—	1	—	139	—	—	—	—	139	—	139
Preferred stock, Series B, redemption	(989)	—	—	—	—	—	—	—	(989)	—	(989)
Common stock dividends	—	—	—	—	(2,392)	—	—	—	(2,392)	—	(2,392)
Sale of Commercial Renewables Disposal Groups(b)	—	—	—	—	—	—	—	—	—	(51)	(51)
Contributions from noncontrolling interests	—	—	—	—	—	—	—	—	—	47	47
Distributions to noncontrolling interest in subsidiaries	—	—	—	—	—	—	—	—	—	(23)	(23)
Other	—	—	—	1	(2)	—	—	(1)	(2)	—	(2)
Balance at September 30, 2024	$973	772	$1	$45,060	$3,052	$131	$(11)	$(73)	$49,133	$1,116	$50,249
Balance at December 31, 2024	$973	776	$1	$45,494	$3,431	$326	$(17)	$(81)	$50,127	$1,129	$51,256
Net income(c)	—	—	—	—	3,743	—	—	—	3,743	81	3,824
Other comprehensive (loss) income	—	—	—	—	—	(55)	4	1	(50)	—	(50)
Common stock issuances, including dividend reinvestment and employee benefits	—	2	—	98	—	—	—	—	98	—	98
Common stock dividends	—	—	—	—	(2,460)	—	—	—	(2,460)	—	(2,460)
Sale of Commercial Renewables Disposal Groups(b)	—	—	—	—	—	—	—	—	—	(18)	(18)
Distributions to noncontrolling interest in subsidiaries	—	—	—	—	—	—	—	—	—	(21)	(21)
Other	—	—	—	—	4	—	—	—	4	(6)	(2)
Balance at September 30, 2025	$973	778	$1	$45,592	$4,718	$271	$(13)	$(80)	$51,462	$1,165	$52,627

(a)See Duke Energy Condensed Consolidated Statements of Comprehensive Income for detailed activity related to Cash Flow and Fair Value hedges.

(b)See Note 2 for additional information.

(c)Net income available to Duke Energy Corporation Common Stockholders reflects preferred dividends and, for 2024, the $16 million preferred redemption costs.

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