DUKE ENERGY FLORIDA, LLC

For the period ended Mar 31, 2026. Filed May 5, 2026.

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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.

Mar 31, 2026 · Filed May 5, 2026

DUK$128.94+0.7%Stored close · as of Nov 10, 2026

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Contents

Duke Energy Carolinas, LLC Financial Statements

FINANCIAL STATEMENTS

	Three Months Ended
	March 31,
(in millions)	2026	2025
Operating Revenues	$2,766	$2,524
Operating Expenses
Fuel used in electric generation and purchased power	931	803
Operation, maintenance and other	613	484
Depreciation and amortization	526	432
Property and other taxes	106	102
Total operating expenses	2,176	1,821
Gains on Sales of Other Assets and Other, net	2	—
Operating Income	592	703
Other Income and Expenses, net	63	61
Interest Expense	218	200
Income Before Income Taxes	437	564
Income Tax Expense	11	51
Net Income	$426	$513
Other Comprehensive Income, net of tax
Net gains on cash flow hedges	1	—
Comprehensive Income	$427	$513

FINANCIAL STATEMENTS

(in millions)	March 31, 2026	December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents	$44	$3
Receivables (net of allowance for doubtful accounts of $57 at 2026 and $55 at 2025)	1,198	1,347
Receivables from affiliated companies	251	331
Notes receivable from affiliated companies	—	69
Inventory	1,544	1,530
Regulatory assets (includes $72 at 2026 and 2025 related to VIEs)	752	730
Other (includes $31 at 2026 and $12 at 2025 related to VIEs)	259	75
Total current assets	4,048	4,085
Property, Plant and Equipment
Cost	63,715	62,513
Accumulated depreciation and amortization	(20,863)	(20,658)
Net property, plant and equipment	42,852	41,855
Other Noncurrent Assets
Regulatory assets (includes $1,244 at 2026 and $1,257 at 2025 related to VIEs)	5,177	4,502
Nuclear decommissioning trust funds	7,213	7,338
Operating lease right-of-use assets, net	92	91
Other	1,336	1,304
Total other noncurrent assets	13,818	13,235
Total Assets	$60,718	$59,175
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$1,539	$1,670
Accounts payable to affiliated companies	353	386
Notes payable to affiliated companies	638	—
Taxes accrued	124	306
Interest accrued	163	214
Current maturities of long-term debt (includes $36 at 2026 and $16 at 2025 related to VIEs)	1,649	629
Asset retirement obligations	242	245
Regulatory liabilities	660	569
Other	634	621
Total current liabilities	6,002	4,640
Long-Term Debt (includes $1,291 at 2026 and $1,316 at 2025 related to VIEs)	17,839	17,848
Long-Term Debt Payable to Affiliated Companies	300	300
Other Noncurrent Liabilities
Deferred income taxes	4,274	4,191
Asset retirement obligations	3,598	3,597
Regulatory liabilities	7,333	7,609
Operating lease liabilities	79	79
Accrued pension and other post-retirement benefit costs	23	24
Investment tax credits	353	345
Other	750	802
Total other noncurrent liabilities	16,410	16,647
Commitments and Contingencies
Equity
Member's equity	20,171	19,745
Accumulated other comprehensive loss	(4)	(5)
Total equity	20,167	19,740
Total Liabilities and Equity	$60,718	$59,175

FINANCIAL STATEMENTS

	Three Months Ended
	March 31,
(in millions)	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$426	$513
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of nuclear fuel)	589	500
Equity component of AFUDC	(41)	(32)
Gains on sales of other assets	(2)	—
Deferred income taxes	134	13
Payments for asset retirement obligations	(44)	(43)
(Increase) decrease in
Receivables	165	158
Receivables from affiliated companies	80	(40)
Inventory	(18)	48
Other current assets	(179)	(63)
Increase (decrease) in
Accounts payable	(85)	(344)
Accounts payable to affiliated companies	(33)	243
Taxes accrued	(181)	(461)
Other current liabilities	(175)	(111)
Other assets	(700)	(16)
Other liabilities	43	24
Net cash (used in) provided by operating activities	(21)	389
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1,474)	(1,019)
Purchases of debt and equity securities	(2,633)	(1,065)
Proceeds from sales and maturities of debt and equity securities	2,633	1,065
Notes receivable from affiliated companies	69	(75)
Other	(113)	(49)
Net cash used in investing activities	(1,518)	(1,143)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	1,015	1,239
Payments for the redemption of long-term debt	(8)	(508)
Notes payable to affiliated companies	638	—
Other	(46)	60
Net cash provided by financing activities	1,599	791
Net increase in cash, cash equivalents and restricted cash	60	37
Cash, cash equivalents and restricted cash at beginning of period	22	16
Cash, cash equivalents and restricted cash at end of period	$82	$53
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$902	$782

FINANCIAL STATEMENTS

	Three Months Ended March 31, 2025 and 2026
Accumulated Other
Comprehensive
Income (Loss)
	Member's	Net Gains (Losses) on	Total
(in millions)	Equity	Cash Flow Hedges	Equity
Balance at December 31, 2024	$17,846	$(6)	$17,840
Net income	513	—	513
Balance at March 31, 2025	$18,359	$(6)	$18,353
Balance at December 31, 2025	$19,745	$(5)	$19,740
Net income	426	—	426
Other comprehensive income	—	1	1
Balance at March 31, 2026	$20,171	$(4)	$20,167

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