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

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 · Nine Months Ended
	September 30,		September 30,
(in millions)	2025	2024	2025	2024
Operating Revenues
Regulated natural gas	$265	$213	$1,443	$1,119
Nonregulated natural gas and other	6	6	20	20
Operating Revenues	$271	$219	$1,463	$1,139
Operating Expenses
Cost of natural gas	98	52	494	280
Operation, maintenance and other	102	87	301	267
Depreciation and amortization	69	65	210	191
Property and other taxes	19	16	56	47
Total operating expenses	288	220	1,061	785
Operating (Loss) Income	(17)	(1)	402	354
Other Income and Expenses
Equity in earnings of unconsolidated affiliates	3	2	6	6
Other income and expenses, net	12	12	34	42
Total other income and expenses	15	14	40	48
Interest Expense	48	47	143	135
(Loss) Income Before Income Taxes	(50)	(34)	299	267
Income Tax (Benefit) Expense	(12)	(10)	56	49
Net (Loss) Income and Comprehensive (Loss) Income	$(38)	$(24)	$243	$218

FINANCIAL STATEMENTS

(in millions)	September 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$2	$2
Receivables (net of allowance for doubtful accounts of $8 at 2025 and $7 at 2024)	120	306
Receivables from affiliated companies	9	16
Inventory	54	66
Assets held for sale	47	92
Regulatory assets	128	141
Other	82	10
Total current assets	442	633
Property, Plant and Equipment
Cost	11,131	10,712
Accumulated depreciation and amortization	(2,129)	(2,041)
Net property, plant and equipment	9,002	8,671
Other Noncurrent Assets
Goodwill	39	39
Regulatory assets	379	387
Operating lease right-of-use assets, net	2	4
Investments in equity method unconsolidated affiliates	75	76
Assets held for sale	1,822	1,722
Other	275	267
Total other noncurrent assets	2,592	2,495
Total Assets	$12,036	$11,799
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$173	$195
Accounts payable to affiliated companies	46	26
Notes payable to affiliated companies	543	739
Taxes accrued	57	83
Interest accrued	50	44
Current maturities of long-term debt	505	205
Liabilities associated with assets held for sale	39	52
Regulatory liabilities	6	64
Other	74	72
Total current liabilities	1,493	1,480
Long-Term Debt	3,800	3,798
Other Noncurrent Liabilities
Deferred income taxes	1,080	1,018
Asset retirement obligations	26	24
Regulatory liabilities	801	783
Operating lease liabilities	2	7
Accrued pension and other post-retirement benefit costs	6	7
Liabilities associated with assets held for sale	167	182
Other	103	146
Total other noncurrent liabilities	2,185	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	2,922	2,718
Total Piedmont Natural Gas Company, Inc. stockholder's equity	4,557	4,353
Noncontrolling interests	1	1
Total equity	4,558	4,354
Total Liabilities and Equity	$12,036	$11,799

FINANCIAL STATEMENTS

	Nine Months Ended
	September 30,
(in millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$243	$218
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	212	193
Equity component of AFUDC	(13)	(17)
Deferred income taxes	46	54
Equity in earnings from unconsolidated affiliates	(6)	(6)
Contributions to qualified pension plans	—	(3)
(Increase) decrease in
Receivables	217	185
Receivables from affiliated companies	7	(2)
Inventory	13	54
Other current assets	(49)	(71)
Increase (decrease) in
Accounts payable	(44)	(39)
Accounts payable to affiliated companies	20	10
Taxes accrued	(27)	(36)
Other current liabilities	(51)	8
Other assets	(7)	(15)
Other liabilities	(4)	8
Net cash provided by operating activities	557	541
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(595)	(800)
Other	(24)	(44)
Net cash used in investing activities	(619)	(844)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	450	373
Payments for the redemption of long-term debt	(150)	(40)
Notes payable to affiliated companies	(197)	(26)
Dividends to parent	(40)	—
Other	(1)	—
Net cash provided by financing activities	62	307
Net increase in cash and cash equivalents	—	4
Cash and cash equivalents at beginning of period	2	—
Cash and cash equivalents at end of period	$2	$4
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$129	$143

FINANCIAL STATEMENTS

	Three Months Ended September 30, 2024 and 2025
Total
Piedmont
Natural Gas
	Common	Retained	Company, Inc.	Noncontrolling	Total
(in millions)	Stock	Earnings	Equity	Interests	Equity
Balance at June 30, 2024	$1,635	$2,658	$4,293	$1	$4,294
Net loss	—	(24)	(24)	—	(24)
Balance at September 30, 2024	$1,635	$2,634	$4,269	$1	$4,270
Balance at June 30, 2025	$1,635	$3,000	$4,635	$1	$4,636
Net loss	—	(38)	(38)	—	(38)
Dividends to parent	—	(40)	(40)	—	(40)
Balance at September 30, 2025	$1,635	$2,922	$4,557	$1	$4,558
	Nine Months Ended September 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	—	218	218	—	218
Balance at September 30, 2024	$1,635	$2,634	$4,269	$1	$4,270
Balance at December 31, 2024	$1,635	$2,718	$4,353	$1	$4,354
Net income	—	243	243	—	243
Dividends to parent	—	(40)	(40)	—	(40)
Other	—	1	1	—	1
Balance at September 30, 2025	$1,635	$2,922	$4,557	$1	$4,558

ContentsView on SEC.gov

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