Fourth Quarter 2023 Earnings Review and Business Update
FFO to Debt Calculation
Duke Energy Progress
(in millions)
Year Ended December 31,
2023
Actual
Cash From Operations
Adjust for Working Capital (1)
1,734
564
Coal ash ARO spend
249
Include Capitalized Interest as cost
(35)
Storm securitization
(39)
Lease-imputed FFO adjustment (D&A)
61
Adjustment for Long-term Deferred Fuel Impacts
(346)
Funds From Operations
2,188
Notes payable to affiliated companies
891
Current maturities of LT debt
LT debt
LT debt payable to affiliates
Storm securitization
Underfunded Pension
72
11,492
150
(714)
23
Lease imputed debt
338
Total Balance Sheet Debt (Including ST)
12,252
(1) Working capital detail, excluding MTM
Receivables
Receivables from affiliates
Inventory
Other current assets
Accounts payable
Accounts payable to affiliates
Taxes accrued
Other current liabilities
FFO / Debt
(10)
9
(221)
(252)
(26)
(176)
99
13
(564)
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