DUKE ENERGY FLORIDA, LLC

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

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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

Progress Energy, Inc. Financial Statements

FINANCIAL STATEMENTS

Three Months Ended · Nine Months Ended
	September 30,		September 30,
(in millions)	2025	2024	2025	2024
Operating Revenues	$4,074	$3,860	$11,110	$10,445
Operating Expenses
Fuel used in electric generation and purchased power	1,175	1,384	3,306	3,729
Operation, maintenance and other	944	653	2,475	1,869
Depreciation and amortization	670	640	1,910	1,795
Property and other taxes	201	170	548	494
Impairment of assets and other charges	(2)	(3)	(2)	6
Total operating expenses	2,988	2,844	8,237	7,893
Gains on Sales of Other Assets and Other, net	7	7	19	20
Operating Income	1,093	1,023	2,892	2,572
Other Income and Expenses, net	79	56	209	178
Interest Expense	272	271	830	796
Income Before Income Taxes	900	808	2,271	1,954
Income Tax Expense	143	130	361	320
Net Income	$757	$678	$1,910	$1,634
Other Comprehensive Income (Loss), net of tax
Unrealized gains (losses) on available-for-sale securities	—	1	(1)	1
Comprehensive Income	$757	$679	$1,909	$1,635

FINANCIAL STATEMENTS

(in millions)	September 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$102	$73
Receivables (net of allowance for doubtful accounts of $67 at 2025 and $39 at 2024)	1,665	707
Receivables of VIEs (net of allowance for doubtful accounts of $34 at 2024)	11	835
Receivables from affiliated companies	92	25
Notes receivable from affiliated companies	435	—
Inventory (includes $550 at 2025 and $494 at 2024 related to VIEs)	2,151	2,086
Regulatory assets (includes $132 at 2025 and $108 at 2024 related to VIEs)	875	1,647
Other (includes $32 at 2025 and $75 at 2024 related to VIEs)	176	182
Total current assets	5,507	5,555
Property, Plant and Equipment
Cost	76,411	72,560
Accumulated depreciation and amortization	(25,023)	(23,586)
Net property, plant and equipment	51,388	48,974
Other Noncurrent Assets
Goodwill	3,655	3,655
Regulatory assets (includes $1,872 at 2025 and $1,516 at 2024 related to VIEs)	6,525	6,618
Nuclear decommissioning trust funds	5,508	4,967
Operating lease right-of-use assets, net	630	625
Other	1,351	1,242
Total other noncurrent assets	17,669	17,107
Total Assets	$74,564	$71,636
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (includes $266 at 2025 and $208 at 2024 related to VIEs)	$1,432	$2,170
Accounts payable to affiliated companies	587	507
Notes payable to affiliated companies	283	1,077
Taxes accrued	484	312
Interest accrued	240	232
Current maturities of long-term debt (includes $102 at 2025 and $502 at 2024 related to VIEs)	872	1,517
Asset retirement obligations	208	231
Regulatory liabilities	379	522
Other	711	792
Total current liabilities	5,196	7,360
Long-Term Debt (includes $1,938 at 2025 and $1,582 at 2024 related to VIEs)	25,062	22,829
Long-Term Debt Payable to Affiliated Companies	150	150
Other Noncurrent Liabilities
Deferred income taxes	5,524	5,263
Asset retirement obligations	4,274	4,317
Regulatory liabilities	5,435	5,258
Operating lease liabilities	568	557
Accrued pension and other post-retirement benefit costs	244	254
Investment tax credits	392	385
Other (includes $11 at 2024 related to VIEs)	458	357
Total other noncurrent liabilities	16,895	16,391
Commitments and Contingencies
Equity
Common Stock, $0.01 par value, 100 shares authorized and outstanding at 2025 and 2024	—	—
Additional paid-in capital	12,278	11,830
Retained earnings	14,994	13,086
Accumulated other comprehensive loss	(11)	(10)
Total equity	27,261	24,906
Total Liabilities and Equity	$74,564	$71,636

FINANCIAL STATEMENTS

	Nine Months Ended
	September 30,
(in millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$1,910	$1,634
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	2,739	2,081
Equity component of AFUDC	(84)	(54)
Gains on sales of other assets	(19)	(20)
Impairment of assets and other charges	(2)	6
Deferred income taxes	231	(19)
Contributions to qualified pension plans	—	(23)
Payments for asset retirement obligations	(155)	(221)
(Increase) decrease in
Receivables	(102)	(185)
Receivables from affiliated companies	(67)	78
Inventory	(53)	(95)
Other current assets	14	841
Increase (decrease) in
Accounts payable	(823)	194
Accounts payable to affiliated companies	137	87
Taxes accrued	179	179
Other current liabilities	(84)	12
Other assets	(29)	(484)
Other liabilities	70	126
Net cash provided by operating activities	3,862	4,137
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(4,320)	(3,891)
Purchases of debt and equity securities	(3,219)	(1,561)
Proceeds from sales and maturities of debt and equity securities	3,254	1,644
Notes receivable from affiliated companies	(435)	—
Other	(328)	(351)
Net cash used in investing activities	(5,048)	(4,159)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	3,328	849
Payments for the redemption of long-term debt	(1,761)	(460)
Notes payable to affiliated companies	(795)	(238)
Contributions from parent	400	—
Dividends to parent	—	(125)
Other	(12)	(1)
Net cash provided by financing activities	1,160	25
Net (decrease) increase in cash, cash equivalents and restricted cash	(26)	3
Cash, cash equivalents and restricted cash at beginning of period	160	135
Cash, cash equivalents and restricted cash at end of period	$134	$138
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$898	$628

FINANCIAL STATEMENTS

	Three Months Ended September 30, 2024 and 2025
	Accumulated Other Comprehensive Income (Loss)
Net Gains · Net Unrealized
Additional · (Losses) on · Gains (Losses) on · Pension and
	Paid-in	Retained	Cash Flow	Available-for-	OPEB	Total
(in millions)	Capital	Earnings	Hedges	Sale Securities	Adjustments	Equity
Balance at June 30, 2024	$11,849	$11,996	$(1)	$(5)	$(4)	$23,835
Net income	—	678	—	—	—	678
Other comprehensive income	—	—	—	1	—	1
Dividends to parent	—	(125)	—	—	—	(125)
Other	(19)	—	—	—	—	(19)
Balance at September 30, 2024	$11,830	$12,549	$(1)	$(4)	$(4)	$24,370
Balance at June 30, 2025	$12,187	$14,237	$(1)	$(6)	$(4)	$26,413
Net income	—	757	—	—	—	757
Distributions to parent	(9)	—	—	—	—	(9)
Contributions from parent	100	—	—	—	—	100
Balance at September 30, 2025	$12,278	$14,994	$(1)	$(6)	$(4)	$27,261
	Nine Months Ended September 30, 2024 and 2025
	Accumulated Other Comprehensive Income (Loss)
Net Gains · Net Unrealized
Additional · (Losses) on · Gains (Losses) on · Pension and
	Paid-in	Retained	Cash Flow	Available-for-	OPEB	Total
	Capital	Earnings	Hedges	Sale Securities	Adjustments	Equity
Balance at December 31, 2023	$11,830	$11,040	$(1)	$(5)	$(4)	$22,860
Net income	—	1,634	—	—	—	1,634
Other comprehensive income	—	—	—	1	—	1
Dividends to parent	—	(125)	—	—	—	(125)
Balance at September 30, 2024	$11,830	$12,549	$(1)	$(4)	$(4)	$24,370
Balance at December 31, 2024	$11,830	$13,086	$(1)	$(5)	$(4)	$24,906
Net income	—	1,910	—	—	—	1,910
Other comprehensive loss	—	—	—	(1)	—	(1)
Distributions to parent	(9)	—	—	—	—	(9)
Equitization of certain intercompany balances with affiliates	57	(2)	—	—	—	55
Contributions from parent	400	—	—	—	—	400
Balance at September 30, 2025	$12,278	$14,994	$(1)	$(6)	$(4)	$27,261

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