DUKE ENERGY FLORIDA, LLC
For the period ended Jun 30, 2026. Filed Aug 4, 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.
Jun 30, 2026 · Filed Aug 4, 2026
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended June 30, 2026
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
| Commission File Number | Registrant, State of Incorporation or Organization,Address of Principal Executive Offices, Zip Code and Telephone Number | IRS Employer Identification No. |
|---|---|---|
| 1-32853 | DUKE ENERGY CORPORATION | 20-2777218 |
(a Delaware corporation)
| 1-4928 | DUKE ENERGY CAROLINAS, LLC | 56-0205520 |
(a North Carolina limited liability company)
| 1-15929 | PROGRESS ENERGY, INC. | 56-2155481 |
(a North Carolina corporation)
411 Fayetteville Street
Raleigh, North Carolina 27601
| 1-3382 | DUKE ENERGY PROGRESS, LLC | 56-0165465 |
(a North Carolina limited liability company)
411 Fayetteville Street
Raleigh, North Carolina 27601
| 1-3274 | DUKE ENERGY FLORIDA, LLC | 59-0247770 |
(a Florida limited liability company)
299 First Avenue North
St. Petersburg, Florida 33701
| 1-1232 | DUKE ENERGY OHIO, INC. | 31-0240030 |
(an Ohio corporation)
139 East Fourth Street
Cincinnati, Ohio 45202
| 1-3543 | DUKE ENERGY INDIANA, LLC | 35-0594457 |
(an Indiana limited liability company)
1000 East Main Street
Plainfield, Indiana 46168
| 1-6196 | PIEDMONT NATURAL GAS COMPANY, INC. | 56-0556998 |
(a North Carolina corporation)
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Name of each exchange on
Registrant Title of each class Trading symbols which registered
Duke Energy Common Stock, $0.001 par value DUK New York Stock Exchange LLC
Duke Energy 5.625% Junior Subordinated Debentures due DUKB New York Stock Exchange LLC
September 15, 2078
Duke Energy Depositary Shares, each representing a 1/1,000th DUK PR A New York Stock Exchange LLC
interest in a share of 5.75% Series A Cumulative
Redeemable Perpetual Preferred Stock, par value
$0.001 per share
Duke Energy 3.10% Senior Notes due 2028 DUK 28A New York Stock Exchange LLC
Duke Energy 3.85% Senior Notes due 2034 DUK 34 New York Stock Exchange LLC
Duke Energy 3.75% Senior Notes due 2031 DUK 31A New York Stock Exchange LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
| Duke Energy Corporation (Duke Energy) | Yes | ☒ | No | ☐ | Duke Energy Florida, LLC (Duke Energy Florida) | Yes | ☒ | No | ☐ |
|---|---|---|---|---|---|---|---|---|---|
| Duke Energy Carolinas, LLC (Duke Energy Carolinas) | Yes | ☒ | No | ☐ | Duke Energy Ohio, Inc. (Duke Energy Ohio) | Yes | ☒ | No | ☐ |
| Progress Energy, Inc. (Progress Energy) | Yes | ☒ | No | ☐ | Duke Energy Indiana, LLC (Duke Energy Indiana) | Yes | ☒ | No | ☐ |
| Duke Energy Progress, LLC (Duke Energy Progress) | Yes | ☒ | No | ☐ | Piedmont Natural Gas Company, Inc. (Piedmont) | Yes | ☒ | No | ☐ |
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
| Duke Energy | Yes | ☒ | No | ☐ | Duke Energy Florida | Yes | ☒ | No | ☐ |
|---|---|---|---|---|---|---|---|---|---|
| Duke Energy Carolinas | Yes | ☒ | No | ☐ | Duke Energy Ohio | Yes | ☒ | No | ☐ |
| Progress Energy | Yes | ☒ | No | ☐ | Duke Energy Indiana | Yes | ☒ | No | ☐ |
| Duke Energy Progress | Yes | ☒ | No | ☐ | Piedmont | Yes | ☒ | No | ☐ |
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
| Duke Energy | Large Accelerated Filer | ☒ | Accelerated filer | ☐ | Non-accelerated Filer | ☐ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
|---|---|---|---|---|---|---|---|---|---|---|
| Duke Energy Carolinas | Large Accelerated Filer | ☐ | Accelerated filer | ☐ | Non-accelerated Filer | ☒ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
| Progress Energy | Large Accelerated Filer | ☐ | Accelerated filer | ☐ | Non-accelerated Filer | ☒ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
| Duke Energy Progress | Large Accelerated Filer | ☐ | Accelerated filer | ☐ | Non-accelerated Filer | ☒ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
| Duke Energy Florida | Large Accelerated Filer | ☐ | Accelerated filer | ☐ | Non-accelerated Filer | ☒ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
| Duke Energy Ohio | Large Accelerated Filer | ☐ | Accelerated filer | ☐ | Non-accelerated Filer | ☒ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
| Duke Energy Indiana | Large Accelerated Filer | ☐ | Accelerated filer | ☐ | Non-accelerated Filer | ☒ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
| Piedmont | Large Accelerated Filer | ☐ | Accelerated filer | ☐ | Non-accelerated Filer | ☒ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
| Duke Energy | Yes | ☐ | No | ☒ | Duke Energy Florida | Yes | ☐ | No | ☒ |
|---|---|---|---|---|---|---|---|---|---|
| Duke Energy Carolinas | Yes | ☐ | No | ☒ | Duke Energy Ohio | Yes | ☐ | No | ☒ |
| Progress Energy | Yes | ☐ | No | ☒ | Duke Energy Indiana | Yes | ☐ | No | ☒ |
| Duke Energy Progress | Yes | ☐ | No | ☒ | Piedmont | Yes | ☐ | No | ☒ |
Number of shares of common stock outstanding at July 31, 2026:
| Registrant | Description | Shares |
|---|---|---|
| Duke Energy | Common stock, $0.001 par value | 779,702,193 |
| Duke Energy Carolinas | All of the registrant's limited liability company member interests are directly owned by Duke Energy. | N/A |
| Progress Energy | All of the registrant's common stock is directly owned by Duke Energy. | 100 |
| Duke Energy Progress | All of the registrant's limited liability company member interests are indirectly owned by Duke Energy. | N/A |
| Duke Energy Florida | All of the registrant's limited liability company member interests are owned by a Progress Energy subsidiary that is 90.81% indirectly owned by Duke Energy. | N/A |
| Duke Energy Ohio | All of the registrant's common stock is indirectly owned by Duke Energy. | 89,663,086 |
| Duke Energy Indiana | All of the registrant's limited liability company member interests are owned by a Duke Energy subsidiary that is 80.1% indirectly owned by Duke Energy. | N/A |
| Piedmont | All of the registrant's common stock is directly owned by Duke Energy. | 100 |
This combined Form 10-Q is filed separately by eight registrants: Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont (collectively the Duke Energy Registrants). Information contained herein relating to any individual registrant is filed by such registrant solely on its own behalf. Each registrant makes no representation as to information relating exclusively to the other registrants.
Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont meet the conditions set forth in General Instructions H(1)(a) and (b) of Form 10-Q and are therefore filing this form with the reduced disclosure format specified in General Instructions H(2) of Form 10-Q.
TABLE OF CONTENTS
| Cautionary Statement Regarding Forward-Looking Information | ||
|---|---|---|
| PART I. FINANCIAL INFORMATION | ||
| Item 1. · Financial Statements | ||
| Duke Energy Corporation Financial Statements | 9 | |
| Duke Energy Carolinas, LLC Financial Statements | 15 | |
| Progress Energy, Inc. Financial Statements | 19 | |
| Duke Energy Progress, LLC Financial Statements | 23 | |
| Duke Energy Florida, LLC Financial Statements | 27 | |
| Duke Energy Ohio, Inc. Financial Statements | 31 | |
| Duke Energy Indiana, LLC Financial Statements | 35 | |
| Piedmont Natural Gas Company, Inc. Financial Statements | 39 | |
| Combined Notes to Condensed Consolidated Financial Statements | ||
| Note 1 – Organization and Basis of Presentation | 43 | |
| Note 2 – Dispositions | 45 | |
| Note 3 – Business Segments | 47 | |
| Note 4 – Regulatory Matters | 59 | |
| Note 5 – Commitments and Contingencies | 66 | |
| Note 6 – Debt and Credit Facilities | 69 | |
| Note 7 – Goodwill | 71 | |
| Note 8 – Related Party Transactions | 72 | |
| Note 9 – Derivatives and Hedging | 73 | |
| Note 10 – Investments in Debt and Equity Securities | 79 | |
| Note 11 – Fair Value Measurements | 83 | |
| Note 12 – Variable Interest Entities | 88 | |
| Note 13 – Revenue | 90 | |
| Note 14 – Stockholders' Equity | 95 | |
| Note 15 – Employee Benefit Plans | 96 | |
| Note 16 – Income Taxes | 98 | |
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 99 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 117 |
| Item 4. | Controls and Procedures | 117 |
| PART II. OTHER INFORMATION | ||
| Item 1. | Legal Proceedings | 118 |
| Item 1A. | Risk Factors | 118 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 118 |
| Item 5. | Other Information | 118 |
| Item 6. | Exhibits | 119 |
| Signatures | 122 | |
GLOSSARY OF TERMS
Glossary of Terms
The following terms or acronyms used in this Form 10-Q are defined below:
| Term or Acronym | Definition |
|---|---|
| 2015 CCR Rule | A 2015 EPA rule establishing national regulations to provide a comprehensive set of requirements for themanagement and disposal of CCR from coal-fired power plants |
| 2024 CCR Rule | The EPA's Legacy CCR Surface Impoundments rule issued in April 2024 under the Resource Conservation and Recovery Act, which significantly expands the scope of the 2015 CCR Rule |
| AFUDC | Allowance for funds used during construction |
| Bison | Bison Insurance Company Limited |
| CC | Combined Cycle |
| CCR | Coal Combustion Residuals |
| CECPCN | Certificate of Environmental Compatibility and Public Convenience and Necessity |
| CEP | Capital Expenditure Program |
| CPCN | Certificate of Public Convenience and Necessity |
| the Company | Duke Energy Corporation and its subsidiaries |
| Commercial Renewables Disposal Groups | Commercial Renewables business segment, excluding the offshore wind contract for Carolina Long Bay, separated into the utility-scale solar and wind group, the distributed generation group and the remaining assets |
| COVID | Coronavirus Disease 2019 |
| Crystal River Unit 3 | Crystal River Unit 3 Nuclear Plant |
| CT | Combustion Turbine |
| Duke Energy | Duke Energy Corporation (collectively with its subsidiaries) |
| Duke Energy Ohio | Duke Energy Ohio, Inc. |
| Duke Energy Progress | Duke Energy Progress, LLC |
| Duke Energy Carolinas | Duke Energy Carolinas, LLC |
| Duke Energy Florida | Duke Energy Florida, LLC |
| Duke Energy Indiana | Duke Energy Indiana, LLC |
| Duke Energy Kentucky | Duke Energy Kentucky, Inc. |
| Duke Energy Registrants | Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont |
| EDIT | Excess deferred income tax |
| EPA | United States Environmental Protection Agency |
| EPS | Earnings (Loss) Per Share |
| ETR | Effective tax rate |
| EU&I | Electric Utilities and Infrastructure |
| Exchange Act | Securities Exchange Act of 1934 |
| FERC | Federal Energy Regulatory Commission |
| Florida Progress | Florida Progress, LLC |
| FPSC | Florida Public Service Commission |
| FTRs | Financial transmission rights |
| GAAP | Generally accepted accounting principles in the U.S. |
| GAAP Reported Earnings | Net Income Available to Duke Energy Corporation Common Stockholders |
| GAAP Reported EPS | Basic Earnings Per Share Available to Duke Energy Corporation common stockholders |
| GHG | Greenhouse Gas |
| GU&I | Gas Utilities and Infrastructure |
| GWh | Gigawatt-hours |
GLOSSARY OF TERMS
| HB951 | The Energy Solutions for North Carolina, or House Bill 951, passed in October 2021 |
|---|---|
| IRA | Inflation Reduction Act |
| IRS | Internal Revenue Service |
| IURC | Indiana Utility Regulatory Commission |
| JDA | Joint Dispatch Agreement |
| KPSC | Kentucky Public Service Commission |
| LLC | Limited Liability Company |
| MTBE | Methyl tertiary butyl ether |
| MW | Megawatt |
| MWh | Megawatt-hour |
| MYRP | Multiyear rate plan |
| NCI | Noncontrolling interests |
| NCUC | North Carolina Utilities Commission |
| NMC | National Methanol Company |
| NPNS | Normal purchase/normal sale |
| NRC | U.S. Nuclear Regulatory Commission |
| OPEB | Other Post-Retirement Benefit Obligations |
| the Parent | Duke Energy Corporation holding company |
| Piedmont | Piedmont Natural Gas Company, Inc. |
| Piedmont Tennessee Disposal Group | Piedmont's Tennessee business, a natural gas local distribution company included in a purchase agreement with Spire Inc. |
| Progress Energy | Progress Energy, Inc. |
| PSCSC | Public Service Commission of South Carolina |
| PTC | Production Tax Credit |
| PUCO | Public Utilities Commission of Ohio |
| Robinson | Robinson Nuclear Plant |
| RTO | Regional Transmission Organization |
| SPP | Storm Protection Plan |
| Subsidiary Registrants | Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont |
| TPUC | Tennessee Public Utility Commission |
| U.S. | United States |
| U.S. Supreme Court | Supreme Court of the United States |
| VIE | Variable Interest Entity |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.