v3.7.0.1

Derivative Instruments (Tables) | 6 Months Ended
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Jun. 30, 2017
Derivative [Line Items] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | Fair Value of Derivative Instruments - The tables below present NEE's and FPL's gross derivative positions at June 30, 2017 and December 31, 2016, as required by disclosure rules. However, the majority of the underlying contracts are subject to master netting agreements and generally would not be contractually settled on a gross basis. Therefore, the tables below also present the derivative positions on a net basis, which reflect the offsetting of positions of certain transactions within the portfolio, the contractual ability to settle contracts under master netting arrangements and the netting of margin cash collateral (see Note 3 - Recurring Fair Value Measurements for netting information), as well as the location of the net derivative position on the condensed consolidated balance sheets.
| June 30, 2017
| Gross Basis |  | Net Basis
| Assets |  | Liabilities |  | Assets |  | Liabilities
| (millions)
NEE: |  |  |  |  |  |  |
Commodity contracts | $ | 4,409 |  |  | $ | 2,883 |  |  | $ | 1,814 |  |  | $ | 429 |
Interest rate contracts | 154 |  |  | 306 |  |  | 152 |  |  | 304 |
Foreign currency contracts | — |  |  | 43 |  |  | 8 |  |  | 51 |
Total fair values | $ | 4,563 |  |  | $ | 3,232 |  |  | $ | 1,974 |  |  | $ | 784 |
FPL: |  |  |  |  |  |  |
Commodity contracts | $ | 27 |  |  | $ | 11 |  |  | $ | 18 |  |  | $ | 2 |
Net fair value by NEE balance sheet line item: |  |  |  |  |  |  |
Current derivative assets(a) |  |  |  |  | $ | 546 |  |  |
Noncurrent derivative assets(b) |  |  |  |  | 1,428 |  |  |
Current derivative liabilities |  |  |  |  |  |  | $ | 277 |
Noncurrent derivative liabilities |  |  |  |  |  |  | 507 |
Total derivatives |  |  |  |  | $ | 1,974 |  |  | $ | 784 |
Net fair value by FPL balance sheet line item: |  |  |  |  |  |  |
Current derivative assets |  |  |  |  | $ | 18 |  |  |
Current other liabilities |  |  |  |  |  |  | $ | 2 |
Total derivatives |  |  |  |  | $ | 18 |  |  | $ | 2 |
———————————————
(a) | Reflects the netting of approximately $125 million in margin cash collateral received from counterparties.
(b) | Reflects the netting of approximately $16 million in margin cash collateral received from counterparties.
| December 31, 2016
| Gross Basis |  | Net Basis
| Assets |  | Liabilities |  | Assets |  | Liabilities
| (millions)
NEE: |  |  |  |  |  |  |
Commodity contracts | $ | 4,590 |  |  | $ | 2,968 |  |  | $ | 1,938 |  |  | $ | 483 |
Interest rate contracts | 288 |  |  | 284 |  |  | 296 |  |  | 292 |
Foreign currency contracts | 1 |  |  | 106 |  |  | 1 |  |  | 106 |
Total fair values | $ | 4,879 |  |  | $ | 3,358 |  |  | $ | 2,235 |  |  | $ | 881 |
FPL: |  |  |  |  |  |  |
Commodity contracts | $ | 212 |  |  | $ | 4 |  |  | $ | 209 |  |  | $ | 1 |
Net fair value by NEE balance sheet line item: |  |  |  |  |  |  |
Current derivative assets(a) |  |  |  |  | $ | 885 |  |  |
Noncurrent derivative assets(b) |  |  |  |  | 1,350 |  |  |
Current derivative liabilities |  |  |  |  |  |  | $ | 404 |
Noncurrent derivative liabilities |  |  |  |  |  |  | 477 |
Total derivatives |  |  |  |  | $ | 2,235 |  |  | $ | 881 |
Net fair value by FPL balance sheet line item: |  |  |  |  |  |  |
Current derivative assets |  |  |  |  | $ | 209 |  |  |
Current other liabilities |  |  |  |  |  |  | $ | 1 |
Total derivatives |  |  |  |  | $ | 209 |  |  | $ | 1 |
———————————————
(a) | Reflects the netting of approximately $96 million in margin cash collateral received from counterparties.
(b) | Reflects the netting of approximately $71 million in margin cash collateral received from counterparties.
Net Notional Volumes | NEE and FPL had derivative commodity contracts for the following net notional volumes:
|  | June 30, 2017 |  | December 31, 2016
Commodity Type |  | NEE |  | FPL |  | NEE |  | FPL
|  | (millions)
Power |  | (80 | ) |  | MWh |  | — |  |  |  |  | (84 | ) |  | MWh |  | — |  |  |
Natural gas |  | 1,033 |  |  | MMBtu |  | 466 |  |  | MMBtu |  | 1,002 |  |  | MMBtu |  | 618 |  |  | MMBtu
Oil |  | (16 | ) |  | barrels |  | — |  |  |  |  | (7 | ) |  | barrels |  | — |  |  |
Not Designated as Hedging Instrument [Member] |
Derivative [Line Items] |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | Gains (losses) related to NEE's derivatives are recorded in NEE's condensed consolidated statements of income as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (millions)
Commodity contracts:(a) |  |  |  |  |  |  |
Operating revenues | $ | 132 |  |  | $ | (92 | ) |  | $ | 424 |  |  | $ | 238 |
Fuel, purchased power and interchange | — |  |  | (4 | ) |  | — |  |  | (2 | )
Foreign currency contracts - interest expense | 36 |  |  | 52 |  |  | 57 |  |  | 81 |
Foreign currency contracts - other - net | (2 | ) |  | 1 |  |  | (2 | ) |  | 3 |
Interest rate contracts - interest expense | (145 | ) |  | (278 | ) |  | (190 | ) |  | (457 | )
Losses reclassified from AOCI to interest expense: |  |  |  |  |  |  |
Interest rate contracts | (13 | ) |  | (25 | ) |  | (23 | ) |  | (53 | )
Foreign currency contracts | (77 | ) |  | (3 | ) |  | (79 | ) |  | (6 | )
Total | $ | (69 | ) |  | $ | (349 | ) |  | $ | 187 |  |  | $ | (196 | )
———————————————
(a) | For the three and six months ended June 30, 2017, FPL recorded losses of approximately $47 million and $152 million, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets. For the three and six months ended June 30, 2016, FPL recorded gains of approximately $178 million and $70 million, respectively, related to commodity contracts as regulatory liabilities on its condensed consolidated balance sheets.

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