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Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31, 2018 and December 31, 2017, 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 5 - Recurring Fair Value Measurements for netting information), as well as the location of the net derivative position on the condensed consolidated balance sheets.

	March 31, 2018
	Gross Basis								Net Basis
	Assets				Liabilities				Assets				Liabilities
	(millions)
NEE:
Commodity contracts	$	4,308			$	3,071			$	1,893			$	674
Interest rate contracts	77				208				78				209
Foreign currency contracts	35				24				47				36
Total fair values	$	4,420			$	3,303			$	2,018			$	919
FPL:
Commodity contracts	$	3			$	3			$	2			$	2
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	577
Noncurrent derivative assets									1,441
Current derivative liabilities													$	450
Noncurrent derivative liabilities(b)													469
Total derivatives									$	2,018			$	919
Net fair value by FPL balance sheet line item:
Current other assets									$	2
Current other liabilities													$	2
Total derivatives									$	2			$	2

———————————————

(a) Reflects the netting of approximately $34 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $16 million in margin cash collateral paid to counterparties.

	December 31, 2017
	Gross Basis								Net Basis
	Assets				Liabilities				Assets				Liabilities
	(millions)
NEE:
Commodity contracts	$	3,962			$	2,792			$	1,737			$	567
Interest rate contracts	50				275				55				280
Foreign currency contracts	—				40				12				52
Total fair values	$	4,012			$	3,107			$	1,804			$	899
FPL:
Commodity contracts	$	3			$	3			$	2			$	2
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	489
Noncurrent derivative assets									1,315
Current derivative liabilities													$	364
Noncurrent derivative liabilities(b)													535
Total derivatives									$	1,804			$	899
Net fair value by FPL balance sheet line item:
Current other assets									$	2
Current other liabilities													$	2
Total derivatives									$	2			$	2

———————————————

(a) Reflects the netting of approximately $39 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $39 million in margin cash collateral paid to counterparties.

Net Notional Volumes

NEE and FPL had derivative commodity contracts for the following net notional volumes:

		March 31, 2018										December 31, 2017
Commodity Type		NEE					FPL					NEE					FPL
		(millions)
Power		(105	)		MWh		—					(109	)		MWh		—
Natural gas		(40	)		MMBtu		319			MMBtu		(74	)		MMBtu		142			MMBtu
Oil		(19	)		barrels		—					(15	)		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 March 31,
	2018				2017
	(millions)
Commodity contracts(a) - operating revenues	$	137			$	291
Foreign currency contracts - interest expense	45				21
Foreign currency contracts - other - net	—				(1		)
Interest rate contracts - interest expense	59				(45		)
Losses reclassified from AOCI to interest expense:
Interest rate contracts	(9		)		(10		)
Foreign currency contracts	(1		)		(3		)
Total	$	231			$	253

———————————————

(a) For the three months ended March 31, 2018 and 2017, FPL recorded approximately $4 million of gains and $104 million of losses, respectively, related to commodity contracts as regulatory liabilities and regulatory assets, respectively, on its condensed consolidated balance sheets.

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- Definition

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959

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Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959

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