DUKE ENERGY FLORIDA, LLC

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

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.

Mar 31, 2026 · Filed May 5, 2026

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

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Contents

Piedmont Natural Gas Company, Inc. Financial Statements

FINANCIAL STATEMENTS

	Three Months Ended
	March 31,
(in millions)	2026	2025
Operating Revenues
Regulated natural gas	$1,004	$850
Nonregulated natural gas and other	7	7
Operating Revenues	$1,011	$857
Operating Expenses
Cost of natural gas	404	272
Operation, maintenance and other	95	96
Depreciation and amortization	74	70
Property and other taxes	26	18
Total operating expenses	599	456
Gain on Sales of Other Assets and Other, net	652	—
Operating Income	1,064	401
Other Income and Expenses
Equity in earnings of unconsolidated affiliates	2	2
Other income and expenses, net	10	11
Total other income and expenses	12	13
Interest Expense	48	47
Income Before Income Taxes	1,028	367
Income Tax Expense	258	76
Net Income	$770	$291
Other Comprehensive Income, net of tax
Pension and OPEB adjustments	(18)	—
Comprehensive Income	$752	$291

FINANCIAL STATEMENTS

(in millions)	March 31, 2026	December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents	$5	$1
Receivables (net of allowance for doubtful accounts of $9 at 2026 and $6 at 2025)	312	390
Receivables from affiliated companies	11	8
Notes receivable from affiliated companies	266	—
Inventory	45	77
Assets held for sale	—	109
Regulatory assets	85	106
Other	10	8
Total current assets	734	699
Property, Plant and Equipment
Cost	11,480	11,325
Accumulated depreciation and amortization	(2,216)	(2,168)
Net property, plant and equipment	9,264	9,157
Other Noncurrent Assets
Goodwill	39	39
Regulatory assets	306	350
Operating lease right-of-use assets, net	2	2
Investments in equity method unconsolidated affiliates	77	76
Assets held for sale	—	1,864
Other	284	283
Total other noncurrent assets	708	2,614
Total Assets	$10,706	$12,470
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$237	$286
Accounts payable to affiliated companies	99	90
Notes payable to affiliated companies	—	609
Taxes accrued	526	106
Interest accrued	48	41
Current maturities of long-term debt	40	490
Liabilities associated with assets held for sale	—	66
Regulatory liabilities	48	20
Other	68	81
Total current liabilities	1,066	1,789
Long-Term Debt	3,761	3,761
Other Noncurrent Liabilities
Deferred income taxes	873	1,071
Asset retirement obligations	26	25
Regulatory liabilities	780	802
Operating lease liabilities	1	2
Accrued pension and other post-retirement benefit costs	6	7
Liabilities associated with assets held for sale	—	170
Other	87	89
Total other noncurrent liabilities	1,773	2,166
Commitments and Contingencies
Equity
Common stock, no par value: 100 shares authorized and outstanding at 2026 and 2025	1,635	1,635
Retained earnings	2,488	3,118
Accumulated other comprehensive loss	(18)	—
Total Piedmont Natural Gas Company, Inc. stockholder's equity	4,105	4,753
Noncontrolling interests	1	1
Total equity	4,106	4,754
Total Liabilities and Equity	$10,706	$12,470

FINANCIAL STATEMENTS

	Three Months Ended
	March 31,
(in millions)	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$770	$291
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	75	71
Equity component of AFUDC	(5)	(4)
Gain on sale of Piedmont's Tennessee business	(652)	—
Deferred income taxes	(225)	(13)
Equity in earnings from unconsolidated affiliates	(2)	(2)
(Increase) decrease in
Receivables	96	(38)
Receivables from affiliated companies	(3)	4
Inventory	36	17
Other current assets	(2)	55
Increase (decrease) in
Accounts payable	(98)	(27)
Accounts payable to affiliated companies	9	23
Taxes accrued	420	39
Other current liabilities	20	(54)
Other assets	44	(7)
Other liabilities	(16)	(2)
Net cash provided by operating activities	467	353
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(229)	(182)
Proceeds from the sale of Piedmont's Tennessee business	2,501	—
Notes receivable from affiliated companies	(266)	—
Other	(9)	(3)
Net cash provided by (used in) investing activities	1,997	(185)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments for the redemption of long-term debt	(450)	—
Notes payable to affiliated companies	(609)	(159)
Dividends to parent	(1,400)	—
Other	(1)	(1)
Net cash used in financing activities	(2,460)	(160)
Net increase in cash and cash equivalents	4	8
Cash and cash equivalents at beginning of period	1	2
Cash and cash equivalents at end of period	$5	$10
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$138	$114

FINANCIAL STATEMENTS

	Three Months Ended March 31, 2025 and 2026
Accumulated
Other
Comprehensive · Total
Income (Loss) · Piedmont
Pension and · Natural Gas
	Common	Retained	OPEB	Company, Inc.	Noncontrolling	Total
(in millions)	Stock	Earnings	Adjustments	Equity	Interests	Equity
Balance at December 31, 2024	$1,635	$2,718	$—	$4,353	$1	$4,354
Net income	—	291	—	291	—	291
Balance at March 31, 2025	$1,635	$3,009	$—	$4,644	$1	$4,645
Balance at December 31, 2025	$1,635	$3,118	$—	$4,753	$1	$4,754
Net income	—	770	—	770	—	770
Other comprehensive loss	—	—	(18)	(18)	—	(18)
Dividends to parent	—	(1,400)	—	(1,400)	—	(1,400)
Balance at March 31, 2026	$1,635	$2,488	$(18)	$4,105	$1	$4,106

ContentsView on SEC.gov

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