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 Progress, LLC Financial Statements

FINANCIAL STATEMENTS

	Three Months Ended
	March 31,
(in millions)	2026	2025
Operating Revenues	$2,301	$2,018
Operating Expenses
Fuel used in electric generation and purchased power	863	725
Operation, maintenance and other	508	398
Depreciation and amortization	386	357
Property and other taxes	59	60
Total operating expenses	1,816	1,540
Gains on Sales of Other Assets and Other, net	1	—
Operating Income	486	478
Other Income and Expenses, net	43	37
Interest Expense	135	128
Income Before Income Taxes	394	387
Income Tax Expense	40	56
Net Income and Comprehensive Income	$354	$331

FINANCIAL STATEMENTS

(in millions)	March 31, 2026	December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents	$63	$16
Receivables (net of allowance for doubtful accounts of $39 at 2026 and $38 at 2025)	967	952
Receivables from affiliated companies	35	104
Notes receivable from affiliated companies	—	186
Inventory	1,350	1,363
Regulatory assets (includes $70 at 2026 and 2025 related to VIEs)	675	652
Other (includes $37 at 2026 and $38 at 2025 related to VIEs)	190	95
Total current assets	3,280	3,368
Property, Plant and Equipment
Cost	45,974	45,175
Accumulated depreciation and amortization	(17,179)	(16,980)
Net property, plant and equipment	28,795	28,195
Other Noncurrent Assets
Regulatory assets (includes $1,149 at 2026 and $1,169 at 2025 related to VIEs)	4,629	4,543
Nuclear decommissioning trust funds	5,156	5,254
Operating lease right-of-use assets, net	368	386
Other	788	781
Total other noncurrent assets	10,941	10,964
Total Assets	$43,016	$42,527
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$962	$886
Accounts payable to affiliated companies	370	398
Notes payable to affiliated companies	644	—
Taxes accrued	66	167
Interest accrued	91	145
Current maturities of long-term debt (includes $49 at 2026 and $41 at 2025 related to VIEs)	793	285
Asset retirement obligations	186	194
Regulatory liabilities	356	274
Other	342	370
Total current liabilities	3,810	2,719
Long-Term Debt (includes $1,197 at 2026 and $1,224 at 2025 related to VIEs)	12,917	13,461
Long-Term Debt Payable to Affiliated Companies	150	150
Other Noncurrent Liabilities
Deferred income taxes	2,778	2,642
Asset retirement obligations	4,113	4,095
Regulatory liabilities	4,245	4,807
Operating lease liabilities	366	384
Accrued pension and other post-retirement benefit costs	138	139
Investment tax credits	197	194
Other	338	326
Total other noncurrent liabilities	12,175	12,587
Commitments and Contingencies
Equity
Member's Equity	13,964	13,610
Total Liabilities and Equity	$43,016	$42,527

FINANCIAL STATEMENTS

	Three Months Ended
	March 31,
(in millions)	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$354	$331
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of nuclear fuel)	433	402
Equity component of AFUDC	(27)	(19)
Deferred income taxes	125	49
Payments for asset retirement obligations	(38)	(32)
(Increase) decrease in
Receivables	(5)	101
Receivables from affiliated companies	69	(14)
Inventory	12	8
Other current assets	(93)	(36)
Increase (decrease) in
Accounts payable	92	(56)
Accounts payable to affiliated companies	(28)	130
Taxes accrued	(101)	(311)
Other current liabilities	(84)	(73)
Other assets	(380)	(42)
Other liabilities	(22)	23
Net cash provided by operating activities	307	461
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(990)	(849)
Purchases of debt and equity securities	(2,257)	(767)
Proceeds from sales and maturities of debt and equity securities	2,257	767
Notes receivable from affiliated companies	186	(968)
Other	(64)	(34)
Net cash used in investing activities	(868)	(1,851)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	—	2,155
Payments for the redemption of long-term debt	(38)	(441)
Notes payable to affiliated companies	644	(611)
Contributions from parent	—	300
Other	1	(1)
Net cash provided by financing activities	607	1,402
Net increase in cash, cash equivalents and restricted cash	46	12
Cash, cash equivalents and restricted cash at beginning of period	61	69
Cash, cash equivalents and restricted cash at end of period	$107	$81
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$537	$324

FINANCIAL STATEMENTS

	Three Months Ended
	March 31, 2025 and 2026
(in millions)	Member's Equity
Balance at December 31, 2024	$11,971
Net income	331
Contribution from parent	300
Other	(1)
Balance at March 31, 2025	$12,601
Balance at December 31, 2025	$13,610
Net income	354
Balance at March 31, 2026	$13,964

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