Duke Energy (DUK) earnings releases

Release	GAAP EPS	Adjusted EPS	Gap
Aug 4, 2026	1.38	1.43	+4%
May 5, 2026	1.97	1.93	-2%
Feb 10, 2026	1.50	1.50	+0%
Feb 13, 2025	1.54	1.66	+8%
Nov 7, 2024	1.60	1.62	+1%
Aug 6, 2024	1.13	1.18	+4%
Feb 8, 2024	1.27	1.51	+19%
Nov 2, 2023	1.59	1.94	+22%

Press release Nov 5, 2026 · EX-99.1

Media Contact: Gillian Moore

▪ Company narrows 2026 adjusted EPS guidance range to $6.70 to $6.80; strong year-to-date performance positions company to deliver results near the top end

▪ Executing record generation build to add 16 gigawatts of capacity by 2031, supporting customer value, economic growth and reliable service

CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today announced third-quarter 2026 reported EPS, prepared in accordance with Generally Accepted Accounting Principles (GAAP), and adjusted EPS of $1.99. This is compared to reported and adjusted EPS of $1.81 for the third quarter of 2025. Adjusted EPS excludes the impact of certain items that are included in reported EPS.

Higher third-quarter 2026 adjusted results were driven by recovery of infrastructure investments to reliably serve customers in our growing jurisdictions and favorable weather. These items were partially offset by higher depreciation on a growing asset base, impacts from minority interest investments, higher interest expense, and a higher effective tax rate.

The company is narrowing its 2026 adjusted EPS guidance range to $6.70 to $6.80 and reaffirming its long-term adjusted EPS growth rate of 5% to 7% through 2030 off the 2025 guidance range midpoint of $6.30, with confidence to earn in the top half of the range beginning in 2028. Management does not forecast reported GAAP EPS and related long-term growth rates.

“We delivered strong results through the first three quarters of the year, reflecting disciplined execution as we continue investing in the reliable service our customers depend on while keeping costs as low as possible,” said Harry Sideris, Duke Energy president and chief executive officer. “The growth across our states creates a significant opportunity, and our focus is on making sure that growth benefits everyone – protecting existing customers, strengthening reliability and supporting the communities we serve. We are well positioned to deliver on our 2026 priorities and create lasting value for our customers, communities and shareholders.” 1 Duke Energy News Release 2

In addition to the following summary of third-quarter 2026 business segment performance, comprehensive tables with detailed EPS drivers for the third quarter compared to prior year are provided at the end of this news release.

The discussion below of third-quarter results includes both GAAP segment income and adjusted segment income, which is a non-GAAP financial measure. The tables at the end of this news release present a full reconciliation of GAAP reported results to adjusted results.

On a reported basis and adjusted basis, Electric Utilities and Infrastructure recognized third-quarter 2026 segment income of $1,817 million, compared to segment income of $1,658 million in the third quarter of 2025. This represents an increase of $0.20 per share. Higher quarterly results were primarily driven by recovery of infrastructure investments to reliably serve customers in our growing jurisdictions and favorable weather, partially offset by higher depreciation on a growing asset base, impacts from minority interest investments, and higher interest expense.

On a reported and adjusted basis, Gas Utilities and Infrastructure recognized third-quarter 2026 segment loss of $19 million, compared to segment loss of $26 million in the third quarter of 2025. This represents an increase of $0.01 per share. Higher quarterly results were primarily driven by lower O&M expense.

Other primarily includes interest expense on holding company debt, other unallocated corporate costs and results from Duke Energy’s captive insurance company.

On a reported and adjusted basis, Other recognized a third-quarter 2026 segment loss of $247 million, compared to segment loss of $225 million in the third quarter of 2025. This represents a decrease of $0.03 per share. Lower quarterly results were primarily driven by higher captive claims and lower returns on investments.

Duke Energy's consolidated reported effective tax rate for the third quarter of 2026 was 15.3% compared to 10.8% in the third quarter of 2025. The increase in the reported effective tax rate was primarily due to a decrease in the amortization of excess deferred income taxes.

Duke Energy's consolidated adjusted effective tax rate was 15.5% for the third quarter of 2026 compared to 10.8% in the third quarter of 2025. The increase in the adjusted effective tax rate was primarily due to a decrease in the amortization of excess deferred income taxes.

The tables at the end of this news release present a reconciliation of the reported effective tax rate to the adjusted effective tax rate. 2 Duke Energy News Release 3

An earnings conference call for analysts is scheduled at 10 a.m. ET today to discuss third-quarter 2026 financial results and other business and financial updates. The conference call will be hosted by Harry Sideris, president and chief executive officer, and Brian Savoy, executive vice president and chief financial officer.

The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy’s website or by dialing 833.461.5787 in the U.S. or 585.542.9983 outside the U.S. The confirmation code is 463805206. Please call in 10 to 15 minutes prior to the scheduled start time.

Management evaluates financial performance in part based on non-GAAP financial measures, including adjusted earnings, adjusted EPS and adjusted effective tax rate. Adjusted earnings and adjusted EPS represent income (loss) from continuing operations available to Duke Energy Corporation common stockholders in dollar and basic per share amounts, adjusted for the dollar and per share impact of special items. The adjusted effective tax rate is calculated using pretax earnings and income tax expense, both adjusted to include the impact of noncontrolling interests and preferred dividends and to exclude the impact of special items. Special items represent certain charges and credits, which management believes are not indicative of Duke Energy's ongoing performance. There were no special items included in the periods presented.

Management uses these non-GAAP financial measures for planning, forecasting, and to report financial results to the Board of Directors, employees, and stockholders, as well as analysts and investors. The most directly comparable GAAP measures for adjusted earnings, adjusted EPS and the adjusted effective tax rate are Net Income (Loss) Available to Duke Energy Corporation common stockholders (GAAP reported earnings (loss)), Basic earnings (loss) per share Available to Duke Energy Corporation common stockholders (GAAP reported earnings (loss) per share), and the reported effective tax rate, respectively.

Due to the forward-looking nature of forecasted adjusted EPS and related growth rates, the information to reconcile those amounts to the most directly comparable GAAP financial measure is not available, as management is unable to project special items, such as legal settlements, impacts of regulatory orders or asset impairments, for future periods. 3 Duke Energy News Release 4 Management evaluates segment performance based on segment income and other net loss. Segment income and other net loss are defined as income (loss) from continuing operations net of income attributable to noncontrolling interests and preferred stock dividends. Segment income and other net loss include intercompany revenues and expenses that are eliminated in the Condensed Consolidated Financial Statements. Management also uses adjusted segment income and adjusted other net loss as measures of historical and anticipated future segment performance. Adjusted segment income and adjusted other net loss are non-GAAP financial measures, as they represent segment income and other net loss adjusted for special items, as discussed above. Management believes the presentation of adjusted segment income and adjusted other net loss provide useful information to investors, as they provide additional relevant comparison of a segment’s or Other's performance across periods. The most directly comparable GAAP measures for adjusted segment income and adjusted other net loss are segment income and other net loss.

Due to the forward-looking nature of forecasted adjusted segment income and forecasted adjusted other net loss and related growth rates, the information to reconcile these amounts to the most directly comparable GAAP financial measures are not available, as management is unable to project special items, as discussed above.

Duke Energy’s adjusted earnings, adjusted EPS, adjusted effective tax rate, adjusted segment income, and adjusted other net loss may not be comparable to similarly titled measures of another company because other companies may not calculate the measures in the same manner.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.

More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.

This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’s beliefs and assumptions and can often be identified by terms and phrases that include “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,” “target,” “guidance,” “outlook” or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: 4 Duke Energy News Release 5 ◦ The ability to implement our business strategy, including meeting forecasted load growth demand, grid and fleet modernization objectives, and reducing carbon emissions, while balancing customer reliability and keeping costs as low as possible for our customers;

◦ State, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements and/or uncertainty of applicability or changes to such legislative and regulatory initiatives, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices;

◦ The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate;

◦ The ability to timely recover eligible costs, including amounts associated with coal ash impoundment retirement obligations, asset retirement and construction costs related to carbon emissions reductions, and costs related to significant weather events, particularly in periods of heightened customer affordability concerns, bill volatility or public and political scrutiny, and to earn an adequate return on investment through rate case proceedings and the regulatory process;

◦ The costs associated with life extension, power uprate projects, fuel-cycle extensions or decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process;

◦ The impact of extraordinary external events, such as a global pandemic, trade wars or military conflict, and their collateral consequences, including the disruption of global supply chains or the economic activity in our service territories;

◦ Costs and effects of legal and administrative proceedings, settlements, investigations and claims;

◦ Industrial, commercial and residential decline in service territories or customer bases resulting from sustained downturns of the economy, storm damage, reduced customer usage due to cost pressures from inflation, tariffs, or fuel costs, worsening economic health of our service territories, reductions in customer usage patterns, or lower than anticipated load growth, particularly if usage of electricity by data centers is less than currently projected, energy efficiency efforts, natural gas building and appliance electrification, and use of alternative energy sources, such as self-generation and distributed generation technologies;

◦ Federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures, natural gas electrification, and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in a reduced number of customers, excess generation resources as well as stranded costs;

◦ Additional competition in electric and natural gas markets, municipalization and continued industry consolidation;

◦ The influence of weather and other natural phenomena on operations, financial position, and cash flows, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change;

◦ Changing or conflicting investor, customer and other stakeholder expectations and demands, particularly regarding environmental, social and governance matters and costs related thereto;

◦ The ability to successfully operate electric generating facilities and deliver electricity to customers, including direct or indirect effects to the Company resulting from an incident that affects the United States electric grid or generating resources;

◦ Operational interruptions to our natural gas distribution and transmission activities;

◦ The availability of adequate interstate pipeline transportation capacity and natural gas supply;

◦ The impact on facilities and business from a terrorist or other attack, war, vandalism, cybersecurity threats, data security breaches, operational events, information technology failures or other catastrophic events, such as severe storms, fires, explosions, pandemic health events or other similar occurrences;

◦ The inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; 5 Duke Energy News Release 6 ◦ The timing and extent of changes in commodity prices, including any impact from increased tariffs, export controls and interest rates, and the ability to timely recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets;

◦ The results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions, an individual utility’s generation portfolio, and general market and economic conditions;

◦ Credit ratings of the Duke Energy Registrants may be different from what is expected;

◦ Declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds;

◦ Construction and development risks associated with the completion of the Duke Energy Registrants’ capital investment projects, including risks related to financing, timing and receipt of necessary regulatory approvals, obtaining and complying with terms of permits, meeting construction budgets and schedules, obtaining sufficient skilled labor and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all;

◦ Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants;

◦ The ability to obtain adequate insurance at acceptable costs and recover on claims made;

◦ Employee workforce factors, including the potential inability to attract and retain key personnel;

◦ The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent);

◦ The performance of projects undertaken by our businesses and the success of efforts to invest in and develop new opportunities;

◦ The effect of accounting and reporting pronouncements issued periodically by accounting standard-setting bodies and the SEC;

◦ The impact of United States tax legislation to our financial condition, results of operations or cash flows and our credit ratings;

◦ The impacts from potential impairments of goodwill or investment carrying values;

◦ Asset or business acquisitions and dispositions may not be consummated or yield the anticipated benefits, which could adversely affect our financial condition, credit metrics or ability to execute strategic and capital plans;

◦ The (i) failure to realize the anticipated benefits, synergies and value creation expected from the utility combination by which Duke Energy Progress will merge into Duke Energy Carolinas (the Combination), including as a result of difficulties or delays in integrating the contributed assets and operations and/or the incurring of significant costs in connection with the Combination; and (ii) the risk that the combined entity may not perform as expected following the consummation of the Combination due to unforeseen liabilities, its level of indebtedness, integration challenges, market conditions, ratings downgrades or other factors beyond the control of the parties; and

◦ The actions of activist shareholders could disrupt our operations, impact our ability to execute on our business strategy, or cause fluctuations in the trading price of our common stock.

Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward- looking statements speak only as of the date they are made and the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 6

– Duke Energy Carolinas and Duke Energy Progress recorded a total of $248 million pretax within Operations, maintenance and other, Impairment of assets and other charges, and Operating Revenues on the Condensed Consolidated Statements of Operations due to certain legal settlements, as well as regulatory settlements related to the Duke Energy Carolinas' and Duke Energy Progress' North Carolina rate cases and establishment of a regulatory liability associated with an energy efficiency program. Segment income amount for these matters is net of a $59 million tax benefit.

– Net of $196 million tax expense, which includes the impact of nondeductible goodwill related to the sale of Piedmont's Tennessee business.

• $368 million recorded within Gains on Sales of Other Assets and Other, net, and $7 million recorded within Property and other taxes on the Condensed Consolidated Statements of Operations related to the sale of Piedmont's Tennessee business.

• $6 million recorded within Gains on Sales of Other Assets and Other, net on the Condensed Consolidated Statements of Operations related to the sale of certain renewable natural gas investments.

– Recorded in Income (Loss) from Discontinued Operations, net of tax, on the Condensed Consolidated Statements of Operations.

(b) Electric Utilities and Infrastructure includes higher grid modernization riders and transmission revenues (+$0.03), North Carolina Power Bill Reduction Act (SB266) impacts (+$0.02), and the DEI Generation Cost Tracker (+$0.01).

(c) Electric Utilities and Infrastructure includes impacts from DEP North Carolina Year 3 rates, effective October 2025, and DEP South Carolina rates, effective February 2026 (+$0.05), DEC North Carolina Year 3 rates, effective January 2026, and DEC South Carolina rates, effective March 2026 (+$0.04), DEI Step 2 rates, effective March 2026 (+$0.04) and DEF Year 2 rates, effective January 2026 (+$0.03).

(e) Electric Utilities and Infrastructure includes timing of PTCs (-$0.08), minority interest impacts (-$0.07) and higher property taxes (-$0.02). 12

(b) Electric Utilities and Infrastructure includes higher grid modernization riders and transmission revenues (+$0.10), SB266 impacts (+$0.09), and the DEI Generation Cost Tracker (+$0.02). Gas Utilities and Infrastructure includes higher capital riders and higher rates in South Carolina, partially offset by lower earnings due to the sale of the Tennessee business.

(c) Electric Utilities and Infrastructure includes impacts from DEP North Carolina Year 3 rates, effective October 2025, and DEP South Carolina rates, effective February 2026 (+$0.10), DEI Step 2 rates, effective March 2026 (+$0.10), DEC North Carolina Year 3 rates, effective January 2026, and DEC South Carolina rates, effective March 2026 (+$0.09), DEF Year 2 rates, effective January 2026 (+$0.08), and DEK rates, effective July 2025 (+$0.02). Gas Utilities and Infrastructure includes impacts from DEK rates, effective January 2026.

(f) Electric Utilities and Infrastructure includes minority interest impacts (-$0.12) and higher property taxes (-$0.06). 13

DUKE ENERGY CORPOR… CONDEN… CONSOL… STATEM… OF OPERAT… (Unaud… (In millio… except Three Nine per Months Months share Ended Ended amount… Septem… Septemb… Operat… 30, 30, Revenu… 2026 2025 2026 2025 ────────────────────────────────────────────────────────────────────────────── Regula… $ 8,677 $ 8,106 $ 23,583 $ 22,138 electr… Regula… natural 358 361 2,073 1,928 gas Nonreg… electr… 69 75 218 233 and other Total operat… 9,104 8,542 25,874 24,299 revenu… Operat… Expens… Fuel used in electr… genera… 2,738 2,289 7,072 6,266 and purcha… power Cost of natural 117 110 772 642 gas Operat… mainte… 1,373 1,762 4,510 4,916 and other Deprec… and 1,709 1,626 5,098 4,721 amorti… Proper… and 433 438 1,259 1,281 other taxes Impair… of assets -2 — 47 3 and other charges Total operat… 6,368 6,225 18,758 17,829 expens… Gains (Losse… on Sales of 11 17 405 37 Other Assets and Other, net Operat… 2,747 2,334 7,521 6,507 Income Other Income and Expens… Equity in earnin… (losse… 22 16 39 38 of uncons… affili… Other income and 147 182 483 497 expens… net Total other income 169 198 522 535 and expens… Intere… 967 902 2,892 2,688 Expense Income From Contin… Operat… 1,949 1,630 5,151 4,354 Before Income Taxes Income Tax Expense 299 176 792 488 From Contin… Operat… Income From 1,650 1,454 4,359 3,866 Contin… Operat… Income (Loss) From Discon… — — 13 -1 Operat… net of tax Net 1,650 1,454 4,372 3,865 Income Less: Net Income 85 33 165 81 Attrib… to NCI Net Income Attrib… 1,565 1,421 4,207 3,784 to Duke Energy Corpor… Less: Prefer… 14 14 43 41 Divide… Net Income Availa… to Duke $ 1,551 $ 1,407 $ 4,164 $ 3,743 Energy Corpor… Common Stockh… Earnin… Per Share – Basic and Diluted Income from contin… operat… availa… to Duke Energy Corpor… common stockh… Basic and $ 1.99 $ 1.81 $ 5.32 $ 4.81 Diluted Income (loss) from discon… operat… attrib… to Duke Energy Corpor… common stockh… Basic and $ — $ — $ 0.02 $ — Diluted Net income availa… to Duke Energy Corpor… common stockh… Basic and $ 1.99 $ 1.81 $ 5.34 $ 4.81 Diluted Weight… average shares outsta… Basic and 780 778 779 777 Diluted

September 30, December 31, (In millions) 2026 2025 ────────────────────────────────────────────────────────────────────────────── ASSETS Current Assets Cash and cash $ 451 $ 245 equivalents Receivables (net of allowance for doubtful 4,994 4,230 accounts of $213 at 2026 and $194 at 2025) Inventory (includes $1,137 at 2026 and 4,734 4,569 $669 at 2025 related to VIEs) Regulatory assets (includes $205 at 2026 2,563 1,934 and $204 at 2025 related to VIEs) Assets held for — 109 sale Other (includes $86 at 2026 and $88 at 644 526 2025 related to VIEs) Total current 13,386 11,613 assets Property, Plant and Equipment Cost (includes $6,188 at 2026 and $2,913 200,880 190,409 at 2025 related to VIEs) Accumulated depreciation and amortization (includes ($164) -63,127 -60,450 at 2026 and ($89) at 2025 related to VIEs) Net property, plant and 137,753 129,959 equipment Other Noncurrent Assets Goodwill 19,010 19,010 Regulatory assets (includes $2,970 at 14,355 14,379 2026 and $3,108 at 2025 related to VIEs) Nuclear decommissioning 13,281 12,889 trust funds Operating lease right-of-use 1,189 1,241 assets, net Investments in equity method 350 330 unconsolidated affiliates Assets held for — $ 2,148 sale Other 4,539 4,167 Total other noncurrent 52,724 54,164 assets Total Assets $ 203,863 $ 195,736 LIABILITIES AND EQUITY Current Liabilities Accounts payable (includes $374 at 2026 $ 5,018 $ 5,223 and $296 at 2025 related to VIEs) Notes payable and commercial 2,341 2,624 paper Taxes accrued 1,160 975 Interest accrued 842 922 Current maturities of long-term debt (includes $167 6,116 7,104 at 2026 and $118 at 2025 related to VIEs) Asset retirement 462 579 obligations Regulatory 1,365 1,271 liabilities Liabilities associated with — 84 assets held for sale Other 2,341 2,265 Total current 19,645 21,047 liabilities Long-Term Debt (includes $3,136 at 2026 84,332 80,108 and $3,308 at 2025 related to VIEs) Other Noncurrent Liabilities Deferred income 13,740 12,377 taxes Asset retirement 8,870 9,046 obligations Regulatory 15,410 15,682 liabilities Operating lease 991 1,033 liabilities Accrued pension and other 340 396 post-retirement benefit costs Investment tax 1,019 969 credits Liabilities associated with — $ 170 assets held for sale Other 1,974 1,889 Total other noncurrent 42,344 41,562 liabilities Commitments and Contingencies Equity Preferred stock, Series A, $0.001 par value, 40 million depositary 973 973 shares authorized and outstanding at 2026 and 2025 Common stock, $0.001 par value, 2 billion shares authorized; 780 1 1 million and 778 million shares outstanding at 2026 and 2025 Additional 47,397 45,614 paid-in capital Retained 6,708 5,056 earnings Accumulated other comprehensive 298 198 income (loss) Total Duke Energy Corporation 55,377 51,842 stockholders' equity Noncontrolling 2,165 1,177 Interests Total equity 57,542 53,019 Total Liabilities and $ 203,863 $ 195,736 Equity

DUKE ENERGY CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) Nine Months Ended CASH FLOWS FROM September 30, OPERATING ACTIVITIES 2026 2025 ────────────────────────────────────────────────────────────────────────────── Net Income $ 4,372 $ 3,865 Adjustments to reconcile net income to net cash provided by 3,517 4,807 operating activities Net cash provided by operating 7,889 8,672 activities CASH FLOWS FROM INVESTING ACTIVITIES Net cash used in -10,824 -9,976 investing activities CASH FLOWS FROM FINANCING ACTIVITIES Net cash provided by financing 3,130 1,622 activities Net increase (decrease) in cash, cash 195 318 equivalents and restricted cash Cash, cash equivalents and restricted 363 421 cash at beginning of period Cash, cash equivalents and restricted $ 558 $ 739 cash at end of period

(a) See Reported to Adjusted Earnings Reconciliation for a detailed reconciliation of Segment Income/Other Net Loss to Adjusted Earnings. 18

(b) Includes an equity component of allowance for funds used during construction of $51 million for Duke Energy Carolinas, $32 million for Duke Energy Progress, $5 million for Duke Energy Florida, $2 million for Duke Energy Ohio and $7 million for Duke Energy Indiana.

(b) Includes an equity component of allowance for funds used during construction of $136 million for Duke Energy Carolinas, $90 million for Duke Energy Progress, $11 million for Duke Energy Florida, $9 million for Duke Energy Ohio and $23 million for Duke Energy Indiana.

(b) Includes the elimination of intercompany balances, purchase accounting adjustments, and Duke Energy Indiana Holdco, LLC balances. 25

(b) Includes the elimination of intercompany balances, purchase accounting adjustments and Duke Energy Indiana Holdco, LLC balances.

(b) Primarily earnings from investments in Sabal Trail and Cardinal pipelines, as well as Hardy and Pine Needle storage facilities. 27

(b) Includes earnings from investments in Sabal Trail and Cardinal pipelines, as well as Hardy and Pine Needle storage facilities.

(c) The gain on sale is $284 million lower at the Gas Utilities and Infrastructure segment level due to higher allocated goodwill related to the Piedmont Tennessee Disposal Group than at Piedmont Natural Gas LDC. 28

(b) Includes the elimination of intercompany balances and purchase accounting adjustments. 29

(b) Includes the elimination of intercompany balances and purchase accounting adjustments. 30

(a) Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes.