DUKE ENERGY FLORIDA, LLC

For the period ended Jun 30, 2026. Filed Aug 4, 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.

Jun 30, 2026 · Filed Aug 4, 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 · Six Months Ended
	June 30,		June 30,
(in millions)	2026	2025	2026	2025
Operating Revenues
Regulated natural gas	$281	$328	$1,285	$1,178
Nonregulated natural gas and other	7	7	14	14
Operating Revenues	$288	$335	$1,299	$1,192
Operating Expenses
Cost of natural gas	97	124	501	396
Operation, maintenance and other	88	103	183	199
Depreciation and amortization	69	71	143	141
Property and other taxes	4	19	30	37
Total operating expenses	258	317	857	773
Gains (Losses) on Sales of Other Assets and Other, net	—	—	652	—
Operating Income	30	18	1,094	419
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates	—	1	2	3
Other income and expenses, net	14	11	24	22
Total other income and expenses	14	12	26	25
Interest Expense	41	48	89	95
Income (Loss) Before Income Taxes	3	(18)	1,031	349
Income Tax Expense (Benefit)	—	(8)	258	68
Net Income (Loss)	$3	$(10)	$773	$281
Other Comprehensive Income (Loss), net of tax
Pension and OPEB adjustments	4	—	(14)	—
Comprehensive Income (Loss)	$7	$(10)	$759	$281

FINANCIAL STATEMENTS

(in millions)	June 30, 2026	December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents	$—	$1
Receivables (net of allowance for doubtful accounts of $12 at 2026 and $6 at 2025)	149	390
Receivables from affiliated companies	20	8
Inventory	35	77
Assets held for sale	—	109
Regulatory assets	84	106
Other	26	8
Total current assets	314	699
Property, Plant and Equipment
Cost	11,694	11,325
Accumulated depreciation and amortization	(2,216)	(2,168)
Net property, plant and equipment	9,478	9,157
Other Noncurrent Assets
Goodwill	39	39
Regulatory assets	296	350
Operating lease right-of-use assets, net	1	2
Investments in equity method unconsolidated affiliates	74	76
Assets held for sale	—	1,864
Other	287	283
Total other noncurrent assets	697	2,614
Total Assets	$10,489	$12,470
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$223	$286
Accounts payable to affiliated companies	59	90
Notes payable to affiliated companies	281	609
Taxes accrued	67	106
Interest accrued	40	41
Current maturities of long-term debt	40	490
Liabilities associated with assets held for sale	—	66
Regulatory liabilities	53	20
Other	65	81
Total current liabilities	828	1,789
Long-Term Debt	3,762	3,761
Other Noncurrent Liabilities
Deferred income taxes	888	1,071
Asset retirement obligations	26	25
Regulatory liabilities	783	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	82	89
Total other noncurrent liabilities	1,786	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	2,491	3,118
Accumulated other comprehensive income (loss)	(14)	—
Total Piedmont Natural Gas Company, Inc. stockholder's equity	4,112	4,753
Noncontrolling Interests	1	1
Total equity	4,113	4,754
Total Liabilities and Equity	$10,489	$12,470

FINANCIAL STATEMENTS

	Six Months Ended
	June 30,
(in millions)	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$773	$281
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	145	143
Equity component of AFUDC	(9)	(8)
Gain on sale of Piedmont's Tennessee business	(652)	—
Deferred income taxes	(208)	18
Equity in (earnings) losses of unconsolidated affiliates	(2)	(3)
(Increase) decrease in
Receivables	259	169
Receivables from affiliated companies	(12)	5
Inventory	46	27
Other current assets	(20)	(33)
Increase (decrease) in
Accounts payable	(137)	(55)
Accounts payable to affiliated companies	(31)	22
Taxes accrued	(39)	(42)
Other current liabilities	20	(61)
Other assets	35	(7)
Other liabilities	(14)	(3)
Net cash provided by operating activities	154	453
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(460)	(380)
Proceeds from the sale of Piedmont's Tennessee business	2,501	—
Other	(17)	(15)
Net cash provided by (used in) investing activities	2,024	(395)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments for the redemption of long-term debt	(450)	—
Notes payable to affiliated companies	(328)	(57)
Dividends to parent	(1,400)	—
Other	(1)	(1)
Net cash used in financing activities	(2,179)	(58)
Net increase (decrease) in cash and cash equivalents	(1)	—
Cash and cash equivalents at beginning of period	1	2
Cash and cash equivalents at end of period	$—	$2
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$164	$127

FINANCIAL STATEMENTS

	Three Months Ended June 30, 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 March 31, 2025	$1,635	$3,009	$—	$4,644	$1	$4,645
Net income (loss)	—	(10)	—	(10)	—	(10)
Other	—	1	—	1	—	1
Balance at June 30, 2025	$1,635	$3,000	$—	$4,635	$1	$4,636
Balance at March 31, 2026	$1,635	$2,488	$(18)	$4,105	$1	$4,106
Net income (loss)	—	3	—	3	—	3
Other comprehensive income (loss)	—	—	4	4	—	4
Balance at June 30, 2026	$1,635	$2,491	$(14)	$4,112	$1	$4,113
	Six Months Ended June 30, 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 (loss)	—	281	—	281	—	281
Other	—	1	—	1	—	1
Balance at June 30, 2025	$1,635	$3,000	$—	$4,635	$1	$4,636
Balance at December 31, 2025	$1,635	$3,118	$—	$4,753	$1	$4,754
Net income (loss)	—	773	—	773	—	773
Other comprehensive income (loss)	—	—	(14)	(14)	—	(14)
Dividends to parent	—	(1,400)	—	(1,400)	—	(1,400)
Balance at June 30, 2026	$1,635	$2,491	$(14)	$4,112	$1	$4,113

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