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
DUK$128.94+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Duke Energy Florida, LLC Financial Statements
FINANCIAL STATEMENTS
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| June 30, | June 30, | |||
| (in millions) | 2026 | 2025 | 2026 | 2025 |
| Operating Revenues | $1,666 | $1,885 | $3,287 | $3,329 |
| Operating Expenses | ||||
| Fuel used in electric generation and purchased power | 447 | 451 | 895 | 832 |
| Operation, maintenance and other | 236 | 500 | 560 | 786 |
| Depreciation and amortization | 306 | 290 | 602 | 564 |
| Property and other taxes | 127 | 130 | 250 | 242 |
| Total operating expenses | 1,116 | 1,371 | 2,307 | 2,424 |
| Gains (Losses) on Sales of Other Assets and Other, net | 1 | — | 3 | 1 |
| Operating Income | 551 | 514 | 983 | 906 |
| Other Income and Expenses, net | 16 | 27 | 32 | 45 |
| Interest Expense | 126 | 116 | 254 | 234 |
| Income Before Income Taxes | 441 | 425 | 761 | 717 |
| Income Tax Expense | 90 | 81 | 153 | 139 |
| Net Income and Comprehensive Income | $351 | $344 | $608 | $578 |
| Other Comprehensive Income (Loss), net of tax | ||||
| Unrealized gains (losses) on available-for-sale securities | — | (1) | — | (1) |
| Other Comprehensive Income (Loss), net of tax | $— | $(1) | $— | $(1) |
| Comprehensive Income | $351 | $343 | $608 | $577 |
FINANCIAL STATEMENTS
| (in millions) | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $22 | $21 |
| Receivables (net of allowance for doubtful accounts of $27 at 2026 and 2025) | 723 | 594 |
| Receivables from affiliated companies | 136 | 68 |
| Notes receivable from affiliated companies | — | 65 |
| Inventory (includes $631 at 2026 and $669 at 2025 related to VIEs) | 873 | 847 |
| Regulatory assets (includes $63 at 2026 and $62 at 2025 related to VIEs) | 170 | 102 |
| Other (includes $28 at 2026 and $34 at 2025 related to VIEs) | 70 | 52 |
| Total current assets | 1,994 | 1,749 |
| Property, Plant and Equipment | ||
| Cost (includes $3,473 at 2026 and $2,839 at 2025 related to VIEs) | 34,555 | 33,160 |
| Accumulated depreciation and amortization (includes ($121) at 2026 and ($75) at 2025 related to VIEs) | (8,936) | (8,437) |
| Net property, plant and equipment | 25,619 | 24,723 |
| Other Noncurrent Assets | ||
| Regulatory assets (includes $654 at 2026 and $682 at 2025 related to VIEs) | 2,132 | 2,106 |
| Nuclear decommissioning trust funds | 283 | 296 |
| Operating lease right-of-use assets, net | 192 | 221 |
| Other | 547 | 561 |
| Total other noncurrent assets | 3,154 | 3,184 |
| Total Assets | $30,767 | $29,656 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities | ||
| Accounts payable (includes $251 at 2026 and $289 at 2025 related to VIEs) | $683 | $792 |
| Accounts payable to affiliated companies | 239 | 171 |
| Notes payable to affiliated companies | 196 | — |
| Taxes accrued | 251 | 69 |
| Interest accrued | 87 | 87 |
| Current maturities of long-term debt (includes $62 at 2026 and $61 at 2025 related to VIEs) | 1,357 | 437 |
| Asset retirement obligations | 1 | 2 |
| Regulatory liabilities | 64 | 76 |
| Other | 346 | 375 |
| Total current liabilities | 3,224 | 2,009 |
| Long-Term Debt (includes $679 at 2026 and $712 at 2025 related to VIEs) | 10,195 | 10,870 |
| Other Noncurrent Liabilities | ||
| Deferred income taxes | 3,179 | 3,005 |
| Asset retirement obligations | 170 | 195 |
| Regulatory liabilities | 772 | 794 |
| Operating lease liabilities | 144 | 168 |
| Accrued pension and other post-retirement benefit costs | 82 | 88 |
| Investment tax credits | 248 | 240 |
| Other | 160 | 165 |
| Total other noncurrent liabilities | 4,755 | 4,655 |
| Commitments and Contingencies | ||
| Equity | ||
| Member's equity | 12,598 | 12,127 |
| Accumulated other comprehensive income (loss) | (5) | (5) |
| Total equity | 12,593 | 12,122 |
| Total Liabilities and Equity | $30,767 | $29,656 |
FINANCIAL STATEMENTS
| Six Months Ended | ||
|---|---|---|
| June 30, | ||
| (in millions) | 2026 | 2025 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $608 | $578 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, amortization and accretion | 695 | 902 |
| Equity component of AFUDC | (6) | (11) |
| (Gains) losses on sales of other assets | (3) | (1) |
| Deferred income taxes | 178 | (26) |
| Payments for asset retirement obligations | (27) | (19) |
| (Increase) decrease in | ||
| Receivables | (108) | (220) |
| Receivables from affiliated companies | (68) | (51) |
| Inventory | (20) | (12) |
| Other current assets | (91) | 277 |
| Increase (decrease) in | ||
| Accounts payable | (3) | (563) |
| Accounts payable to affiliated companies | 68 | (4) |
| Taxes accrued | 180 | 288 |
| Other current liabilities | (128) | (86) |
| Other assets | (50) | (21) |
| Other liabilities | (29) | (3) |
| Net cash provided by operating activities | 1,196 | 1,028 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capital expenditures | (1,484) | (1,218) |
| Purchases of debt and equity securities | (128) | (111) |
| Proceeds from sales and maturities of debt and equity securities | 149 | 134 |
| Notes receivable from affiliated companies | 65 | — |
| Other | (83) | (126) |
| Net cash used in investing activities | (1,481) | (1,321) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from the issuance of long-term debt | 272 | 704 |
| Payments for the redemption of long-term debt | (51) | (35) |
| Notes payable to affiliated companies | 196 | (399) |
| Contributions from parent | 229 | — |
| Distributions to parent | (366) | — |
| Other | (1) | (1) |
| Net cash provided by financing activities | 279 | 269 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (6) | (24) |
| Cash, cash equivalents and restricted cash at beginning of period | 62 | 75 |
| Cash, cash equivalents and restricted cash at end of period | $56 | $51 |
| Supplemental Disclosures: | ||
| Significant non-cash transactions: | ||
| Accrued capital expenditures | $439 | $521 |
FINANCIAL STATEMENTS
| Three Months Ended June 30, 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 March 31, 2025 | $11,218 | $(5) | $11,213 |
| Net income | 344 | — | 344 |
| Other comprehensive income (loss) | — | (1) | (1) |
| Balance at June 30, 2025 | $11,562 | $(6) | $11,556 |
| Balance at March 31, 2026 | $12,247 | $(5) | $12,242 |
| Net income | 351 | — | 351 |
| Distributions to parent | (183) | — | (183) |
| Contributions from parent | 183 | — | 183 |
| Balance at June 30, 2026 | $12,598 | $(5) | $12,593 |
| Six Months Ended June 30, 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 | 578 | — | 578 |
| Other comprehensive income (loss) | — | (1) | (1) |
| Other | (2) | — | (2) |
| Balance at June 30, 2025 | $11,562 | $(6) | $11,556 |
| Balance at December 31, 2025 | $12,127 | $(5) | $12,122 |
| Net income | 608 | — | 608 |
| Distributions to parent | (366) | — | (366) |
| Contributions from parent | 229 | — | 229 |
| Balance at June 30, 2026 | $12,598 | $(5) | $12,593 |
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