DUKE ENERGY FLORIDA, LLC

For the period ended Sep 30, 2026. Filed Nov 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.

Sep 30, 2026 · Filed Nov 5, 2026

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

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Contents

Duke Energy Florida, LLC Financial Statements

FINANCIAL STATEMENTS

Three Months Ended · Nine Months Ended
	September 30,		September 30,
(in millions)	2026	2025	2026	2025
Operating Revenues	$1,867	$2,157	$5,154	$5,486
Operating Expenses
Fuel used in electric generation and purchased power	518	546	1,413	1,378
Operation, maintenance and other	247	579	807	1,365
Depreciation and amortization	341	297	943	861
Property and other taxes	140	147	390	389
Total operating expenses	1,246	1,569	3,553	3,993
Gains (Losses) on Sales of Other Assets and Other, net	2	1	5	2
Operating Income	623	589	1,606	1,495
Other Income and Expenses, net	19	22	51	67
Interest Expense	135	118	389	352
Income Before Income Taxes	507	493	1,268	1,210
Income Tax Expense	87	96	240	235
Net Income	$420	$397	$1,028	$975
Other Comprehensive Income (Loss), net of tax
Unrealized gains (losses) on available-for-sale securities	(1)	—	(1)	(1)
Other Comprehensive Income (Loss), net of tax	$(1)	$—	$(1)	$(1)
Comprehensive Income	$419	$397	$1,027	$974

FINANCIAL STATEMENTS

(in millions)	September 30, 2026	December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents	$21	$21
Receivables (net of allowance for doubtful accounts of $29 at 2026 and $27 at 2025)	735	594
Receivables from affiliated companies	67	68
Notes receivable from affiliated companies	—	65
Inventory (includes $735 at 2026 and $669 at 2025 related to VIEs)	942	847
Regulatory assets (includes $63 at 2026 and $62 at 2025 related to VIEs)	171	102
Other (includes $15 at 2026 and $34 at 2025 related to VIEs)	107	52
Total current assets	2,043	1,749
Property, Plant and Equipment
Cost (includes $5,591 at 2026 and $2,839 at 2025 related to VIEs)	35,066	33,160
Accumulated depreciation and amortization (includes ($144) at 2026 and ($75) at 2025 related to VIEs)	(9,074)	(8,437)
Net property, plant and equipment	25,992	24,723
Other Noncurrent Assets
Regulatory assets (includes $632 at 2026 and $682 at 2025 related to VIEs)	2,137	2,106
Nuclear decommissioning trust funds	271	296
Operating lease right-of-use assets, net	181	221
Other	674	561
Total other noncurrent assets	3,263	3,184
Total Assets	$31,298	$29,656
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (includes $210 at 2026 and $289 at 2025 related to VIEs)	$623	$792
Accounts payable to affiliated companies	112	171
Notes payable to affiliated companies	523	—
Taxes accrued	222	69
Interest accrued	143	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	89	76
Other	359	375
Total current liabilities	3,429	2,009
Long-Term Debt (includes $649 at 2026 and $712 at 2025 related to VIEs)	10,207	10,870
Other Noncurrent Liabilities
Deferred income taxes	3,336	3,005
Asset retirement obligations	162	195
Regulatory liabilities	876	794
Operating lease liabilities	142	168
Accrued pension and other post-retirement benefit costs	81	88
Investment tax credits	248	240
Other	146	165
Total other noncurrent liabilities	4,991	4,655
Commitments and Contingencies
Equity
Member's equity	12,677	12,127
Accumulated other comprehensive income (loss)	(6)	(5)
Total equity	12,671	12,122
Total Liabilities and Equity	$31,298	$29,656

FINANCIAL STATEMENTS

	Nine Months Ended
	September 30,
(in millions)	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$1,028	$975
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	1,041	1,541
Equity component of AFUDC	(11)	(14)
(Gains) losses on sales of other assets	(5)	(2)
Deferred income taxes	329	(114)
Payments for asset retirement obligations	(36)	(28)
(Increase) decrease in
Receivables	(114)	(223)
Receivables from affiliated companies	1	(55)
Inventory	(88)	(15)
Other current assets	(120)	299
Increase (decrease) in
Accounts payable	(4)	(766)
Accounts payable to affiliated companies	(59)	36
Taxes accrued	171	364
Other current liabilities	(43)	(4)
Other assets	(102)	(57)
Other liabilities	(24)	(6)
Net cash provided by operating activities	1,964	1,931
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(2,191)	(1,948)
Purchases of debt and equity securities	(192)	(166)
Proceeds from sales and maturities of debt and equity securities	228	202
Notes receivable from affiliated companies	65	—
Other	(128)	(191)
Net cash used in investing activities	(2,218)	(2,103)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	274	713
Payments for the redemption of long-term debt	(85)	(533)
Notes payable to affiliated companies	523	10
Contributions from parent	390	138
Distributions to parent	(868)	(188)
Other	—	(1)
Net cash provided by financing activities	234	139
Net increase (decrease) in cash, cash equivalents and restricted cash	(20)	(33)
Cash, cash equivalents and restricted cash at beginning of period	62	75
Cash, cash equivalents and restricted cash at end of period	$42	$42
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$380	$461

FINANCIAL STATEMENTS

	Three Months Ended September 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 June 30, 2025	$11,562	$(6)	$11,556
Net income	397	—	397
Distributions to parent	(188)	—	(188)
Contributions from parent	138	—	138
Balance at September 30, 2025	$11,909	$(6)	$11,903
Balance at June 30, 2026	$12,598	$(5)	$12,593
Net income	420	—	420
Other comprehensive income (loss)	—	(1)	(1)
Distributions to parent	(502)	—	(502)
Contributions from parent	161	—	161
Balance at September 30, 2026	$12,677	$(6)	$12,671
	Nine Months Ended September 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	975	—	975
Other comprehensive income (loss)	—	(1)	(1)
Distributions to parent	(188)	—	(188)
Contributions from parent	138	—	138
Other	(2)	—	(2)
Balance at September 30, 2025	$11,909	$(6)	$11,903
Balance at December 31, 2025	$12,127	$(5)	$12,122
Net income	1,028	—	1,028
Other comprehensive income (loss)	—	(1)	(1)
Distributions to parent	(868)	—	(868)
Contributions from parent	390	—	390
Balance at September 30, 2026	$12,677	$(6)	$12,671

ContentsView on SEC.gov

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