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 Florida, LLC Financial Statements

FINANCIAL STATEMENTS

	Three Months Ended
	March 31,
(in millions)	2026	2025
Operating Revenues	$1,621	$1,444
Operating Expenses
Fuel used in electric generation and purchased power	448	381
Operation, maintenance and other	324	286
Depreciation and amortization	296	274
Property and other taxes	123	112
Total operating expenses	1,191	1,053
Gains on Sales of Other Assets and Other, net	2	1
Operating Income	432	392
Other Income and Expenses, net	16	18
Interest Expense	128	118
Income Before Income Taxes	320	292
Income Tax Expense	63	58
Net Income and Comprehensive Income	$257	$234

FINANCIAL STATEMENTS

(in millions)	March 31, 2026	December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents	$17	$21
Receivables (net of allowance for doubtful accounts of $26 at 2026 and $27 at 2025)	524	594
Receivables from affiliated companies	47	68
Notes receivable from affiliated companies	—	65
Inventory (includes $675 at 2026 and $669 at 2025 related to VIEs)	850	847
Regulatory assets (includes $62 at 2026 and 2025 related to VIEs)	286	102
Other (includes $10 at 2026 and $34 at 2025 related to VIEs)	116	52
Total current assets	1,840	1,749
Property, Plant and Equipment
Cost	33,739	33,160
Accumulated depreciation and amortization	(8,643)	(8,437)
Net property, plant and equipment	25,096	24,723
Other Noncurrent Assets
Regulatory assets (includes $669 at 2026 and $682 at 2025 related to VIEs)	2,130	2,106
Nuclear decommissioning trust funds	275	296
Operating lease right-of-use assets, net	206	221
Other	587	561
Total other noncurrent assets	3,198	3,184
Total Assets	$30,134	$29,656
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (includes $258 at 2026 and $289 at 2025 related to VIEs)	$639	$792
Accounts payable to affiliated companies	139	171
Notes payable to affiliated companies	107	—
Taxes accrued	97	69
Interest accrued	142	87
Current maturities of long-term debt (includes $62 at 2026 and $61 at 2025 related to VIEs)	1,087	437
Asset retirement obligations	2	2
Regulatory liabilities	152	76
Other	338	375
Total current liabilities	2,703	2,009
Long-Term Debt (includes $679 at 2026 and $712 at 2025 related to VIEs)	10,465	10,870
Other Noncurrent Liabilities
Deferred income taxes	3,119	3,005
Asset retirement obligations	180	195
Regulatory liabilities	775	794
Operating lease liabilities	154	168
Accrued pension and other post-retirement benefit costs	86	88
Investment tax credits	248	240
Other	162	165
Total other noncurrent liabilities	4,724	4,655
Commitments and Contingencies
Equity
Member's equity	12,247	12,127
Accumulated other comprehensive loss	(5)	(5)
Total equity	12,242	12,122
Total Liabilities and Equity	$30,134	$29,656

FINANCIAL STATEMENTS

	Three Months Ended
	March 31,
(in millions)	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$257	$234
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	383	342
Equity component of AFUDC	(3)	(5)
Gains on sales of other assets	(2)	(1)
Deferred income taxes	121	18
Payments for asset retirement obligations	(16)	(8)
(Increase) decrease in
Receivables	71	21
Receivables from affiliated companies	21	(54)
Inventory	2	(20)
Other current assets	(269)	254
Increase (decrease) in
Accounts payable	(54)	(356)
Accounts payable to affiliated companies	(32)	21
Taxes accrued	27	94
Other current liabilities	(8)	(21)
Other assets	(20)	(76)
Other liabilities	(12)	(6)
Net cash provided by operating activities	466	437
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(735)	(559)
Purchases of debt and equity securities	(66)	(53)
Proceeds from sales and maturities of debt and equity securities	80	69
Notes receivable from affiliated companies	65	(86)
Other	(44)	(51)
Net cash used in investing activities	(700)	(680)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	271	702
Payments for the redemption of long-term debt	(35)	(34)
Notes payable to affiliated companies	107	(466)
Contributions from parent	46	—
Distributions to parent	(183)	—
Other	(1)	(1)
Net cash provided by financing activities	205	201
Net decrease in cash, cash equivalents and restricted cash	(29)	(42)
Cash, cash equivalents and restricted cash at beginning of period	62	75
Cash, cash equivalents and restricted cash at end of period	$33	$33
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$445	$424

FINANCIAL STATEMENTS

	Three Months Ended March 31, 2025 and 2026
Accumulated
Other
Comprehensive
Income (Loss)
Net Unrealized
Gains (Losses) on
	Member's	Available-for-Sale	Total
(in millions)	Equity	Securities	Equity
Balance at December 31, 2024	$10,986	$(5)	$10,981
Net income	234	—	234
Other	(2)	—	(2)
Balance at March 31, 2025	$11,218	$(5)	$11,213
Balance at December 31, 2025	$12,127	$(5)	$12,122
Net income	257	—	257
Distributions to parent	(183)	—	(183)
Contributions from parent	46	—	46
Balance at March 31, 2026	$12,247	$(5)	$12,242

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.