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Summarized Financial Information of NEECH (Tables) | 9 Months Ended
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Sep. 30, 2018
Summarized Financial Information [Abstract] |
Condensed Consolidating Statements of Income | Condensed Consolidating Statements of Income
| Three Months Ended September 30,
| 2018 |  | 2017
| NEE (Guarantor) |  | NEECH |  | Other(a) |  | NEE Consoli- dated |  | NEE (Guarantor)(b) |  | NEECH |  | Other(a) |  | NEE Consoli- dated(b)
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
Operating revenues | $ | — |  |  | $ | 1,054 |  |  | $ | 3,364 |  |  | $ | 4,418 |  |  | $ | — |  |  | $ | 1,365 |  |  | $ | 3,443 |  |  | $ | 4,808 |
Operating expenses - net | (46 | ) |  | (941 | ) |  | (2,461 | ) |  | (3,448 | ) |  | (51 | ) |  | (982 | ) |  | (2,424 | ) |  | (3,457 | )
Interest expense | (5 | ) |  | (26 | ) |  | (136 | ) |  | (167 | ) |  | (1 | ) |  | (259 | ) |  | (121 | ) |  | (381 | )
Equity in earnings of subsidiaries | 963 |  |  | — |  |  | (963 | ) |  | — |  |  | 830 |  |  | — |  |  | (830 | ) |  | — |
Equity in earnings of equity method investees | — |  |  | 122 |  |  | — |  |  | 122 |  |  | — |  |  | 56 |  |  | — |  |  | 56 |
Other income - net | 37 |  |  | 82 |  |  | 25 |  |  | 144 |  |  | 48 |  |  | 125 |  |  | 21 |  |  | 194 |
Income (loss) before income taxes | 949 |  |  | 291 |  |  | (171 | ) |  | 1,069 |  |  | 826 |  |  | 305 |  |  | 89 |  |  | 1,220 |
Income tax expense (benefit) | (58 | ) |  | 52 |  |  | 132 |  |  | 126 |  |  | (21 | ) |  | 30 |  |  | 355 |  |  | 364 |
Net income (loss) | 1,007 |  |  | 239 |  |  | (303 | ) |  | 943 |  |  | 847 |  |  | 275 |  |  | (266 | ) |  | 856 |
Net (income) loss attributable to noncontrolling interests | — |  |  | 64 |  |  | — |  |  | 64 |  |  | — |  |  | (9 | ) |  | — |  |  | (9 | )
Net income (loss) attributable to NEE | $ | 1,007 |  |  | $ | 303 |  |  | $ | (303 | ) |  | $ | 1,007 |  |  | $ | 847 |  |  | $ | 266 |  |  | $ | (266 | ) |  | $ | 847 |
| Nine Months Ended September 30,
| 2018 |  | 2017
| NEE (Guarantor) |  | NEECH |  | Other(a) |  | NEE Consoli- dated |  | NEE (Guarantor)(b) |  | NEECH |  | Other(a) |  | NEE Consoli- dated(b)
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
Operating revenues | $ | — |  |  | $ | 3,526 |  |  | $ | 8,825 |  |  | $ | 12,351 |  |  | $ | — |  |  | $ | 4,154 |  |  | $ | 9,031 |  |  | $ | 13,185 |
Operating expenses - net | (159 | ) |  | (2,715 | ) |  | (6,298 | ) |  | (9,172 | ) |  | (114 | ) |  | (1,806 | ) |  | (6,276 | ) |  | (8,196 | )
Interest expense | (16 | ) |  | (360 | ) |  | (411 | ) |  | (787 | ) |  | (2 | ) |  | (809 | ) |  | (360 | ) |  | (1,171 | )
Equity in earnings of subsidiaries | 6,132 |  |  | — |  |  | (6,132 | ) |  | — |  |  | 3,179 |  |  | — |  |  | (3,179 | ) |  | — |
Equity in earnings of equity method investees | — |  |  | 372 |  |  | — |  |  | 372 |  |  | — |  |  | 153 |  |  | — |  |  | 153 |
Gain on NEP deconsolidation | — |  |  | 3,935 |  |  | — |  |  | 3,935 |  |  | — |  |  | — |  |  | — |  |  | — |
Other income - net | 138 |  |  | 174 |  |  | 69 |  |  | 381 |  |  | 102 |  |  | 477 |  |  | 31 |  |  | 610 |
Income (loss) before income taxes | 6,095 |  |  | 4,932 |  |  | (3,947 | ) |  | 7,080 |  |  | 3,165 |  |  | 2,169 |  |  | (753 | ) |  | 4,581 |
Income tax expense (benefit) | (134 | ) |  | 1,319 |  |  | 420 |  |  | 1,605 |  |  | (58 | ) |  | 468 |  |  | 919 |  |  | 1,329 |
Net income (loss) | 6,229 |  |  | 3,613 |  |  | (4,367 | ) |  | 5,475 |  |  | 3,223 |  |  | 1,701 |  |  | (1,672 | ) |  | 3,252 |
Net (income) loss attributable to noncontrolling interests | — |  |  | 754 |  |  | — |  |  | 754 |  |  | — |  |  | (29 | ) |  | — |  |  | (29 | )
Net income (loss) attributable to NEE | $ | 6,229 |  |  | $ | 4,367 |  |  | $ | (4,367 | ) |  | $ | 6,229 |  |  | $ | 3,223 |  |  | $ | 1,672 |  |  | $ | (1,672 | ) |  | $ | 3,223 |
———————————————
(a) | Represents primarily FPL and consolidating adjustments.
(b) | Prior period amounts have been retrospectively adjusted as discussed in Note 3 - Amendments to Presentation of Retirement Benefits.
Condensed Consolidating Statements of Comprehensive Income | Condensed Consolidating Statements of Comprehensive Income
| Three Months Ended September 30,
| 2018 |  | 2017
| NEE (Guarantor) |  | NEECH |  | Other(a) |  | NEE Consoli- dated |  | NEE (Guarantor) |  | NEECH |  | Other(a) |  | NEE Consoli- dated
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
Comprehensive income (loss) attributable to NEE | $ | 1,022 |  |  | $ | 319 |  |  | $ | (319 | ) |  | $ | 1,022 |  |  | $ | 892 |  |  | $ | 312 |  |  | $ | (312 | ) |  | $ | 892 |
| Nine Months Ended September 30,
| 2018 |  | 2017
| NEE (Guarantor) |  | NEECH |  | Other(a) |  | NEE Consoli- dated |  | NEE (Guarantor) |  | NEECH |  | Other(a) |  | NEE Consoli- dated
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
Comprehensive income (loss) attributable to NEE | $ | 6,288 |  |  | $ | 4,430 |  |  | $ | (4,430 | ) |  | $ | 6,288 |  |  | $ | 3,341 |  |  | $ | 1,784 |  |  | $ | (1,784 | ) |  | $ | 3,341 |
———————————————
(a) | Represents primarily FPL and consolidating adjustments.
Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets
| September 30, 2018 |  | December 31, 2017
| NEE (Guaran- tor) |  | NEECH |  | Other(a) |  | NEE Consoli- dated |  | NEE (Guaran- tor) |  | NEECH |  | Other(a) |  | NEE Consoli- dated
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
PROPERTY, PLANT AND EQUIPMENT |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric plant in service and other property | $ | 199 |  |  | $ | 35,648 |  |  | $ | 54,478 |  |  | $ | 90,325 |  |  | $ | 20 |  |  | $ | 41,782 |  |  | $ | 51,981 |  |  | $ | 93,783 |
Accumulated depreciation and amortization | (49 | ) |  | (8,378 | ) |  | (13,326 | ) |  | (21,753 | ) |  | (15 | ) |  | (8,551 | ) |  | (12,801 | ) |  | (21,367 | )
Total property, plant and equipment - net | 150 |  |  | 27,270 |  |  | 41,152 |  |  | 68,572 |  |  | 5 |  |  | 33,231 |  |  | 39,180 |  |  | 72,416 |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 1 |  |  | 391 |  |  | 105 |  |  | 497 |  |  | 1 |  |  | 1,679 |  |  | 34 |  |  | 1,714 |
Receivables | 474 |  |  | 1,660 |  |  | 985 |  |  | 3,119 |  |  | 442 |  |  | 1,633 |  |  | 662 |  |  | 2,737 |
Other | 5 |  |  | 3,402 |  |  | 1,326 |  |  | 4,733 |  |  | 5 |  |  | 1,283 |  |  | 1,418 |  |  | 2,706 |
Total current assets | 480 |  |  | 5,453 |  |  | 2,416 |  |  | 8,349 |  |  | 448 |  |  | 4,595 |  |  | 2,114 |  |  | 7,157 |
OTHER ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries | 33,569 |  |  | — |  |  | (33,569 | ) |  | — |  |  | 27,825 |  |  | — |  |  | (27,825 | ) |  | — |
Investment in equity method investees | — |  |  | 6,493 |  |  | — |  |  | 6,493 |  |  | — |  |  | 2,321 |  |  | — |  |  | 2,321 |
Other | 666 |  |  | 6,339 |  |  | 8,184 |  |  | 15,189 |  |  | 591 |  |  | 7,620 |  |  | 7,722 |  |  | 15,933 |
Total other assets | 34,235 |  |  | 12,832 |  |  | (25,385 | ) |  | 21,682 |  |  | 28,416 |  |  | 9,941 |  |  | (20,103 | ) |  | 18,254 |
TOTAL ASSETS | $ | 34,865 |  |  | $ | 45,555 |  |  | $ | 18,183 |  |  | $ | 98,603 |  |  | $ | 28,869 |  |  | $ | 47,767 |  |  | $ | 21,191 |  |  | $ | 97,827 |
CAPITALIZATION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common shareholders' equity | $ | 34,252 |  |  | $ | 12,453 |  |  | $ | (12,453 | ) |  | $ | 34,252 |  |  | $ | 28,208 |  |  | $ | 10,745 |  |  | $ | (10,745 | ) |  | $ | 28,208 |
Noncontrolling interests | — |  |  | 3,086 |  |  | — |  |  | 3,086 |  |  | — |  |  | 1,290 |  |  | — |  |  | 1,290 |
Long-term debt | — |  |  | 15,453 |  |  | 11,595 |  |  | 27,048 |  |  | — |  |  | 20,227 |  |  | 11,236 |  |  | 31,463 |
Total capitalization | 34,252 |  |  | 30,992 |  |  | (858 | ) |  | 64,386 |  |  | 28,208 |  |  | 32,262 |  |  | 491 |  |  | 60,961 |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt due within one year | — |  |  | 5,239 |  |  | 300 |  |  | 5,539 |  |  | — |  |  | 1,215 |  |  | 2,403 |  |  | 3,618 |
Accounts payable | 27 |  |  | 2,302 |  |  | 671 |  |  | 3,000 |  |  | 3 |  |  | 2,427 |  |  | 805 |  |  | 3,235 |
Other | 322 |  |  | 2,043 |  |  | 1,903 |  |  | 4,268 |  |  | 325 |  |  | 2,073 |  |  | 1,981 |  |  | 4,379 |
Total current liabilities | 349 |  |  | 9,584 |  |  | 2,874 |  |  | 12,807 |  |  | 328 |  |  | 5,715 |  |  | 5,189 |  |  | 11,232 |
OTHER LIABILITIES AND DEFERRED CREDITS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset retirement obligations | — |  |  | 943 |  |  | 2,122 |  |  | 3,065 |  |  | — |  |  | 984 |  |  | 2,047 |  |  | 3,031 |
Deferred income taxes | (100 | ) |  | 2,757 |  |  | 4,763 |  |  | 7,420 |  |  | (82 | ) |  | 1,247 |  |  | 4,589 |  |  | 5,754 |
Other | 364 |  |  | 1,279 |  |  | 9,282 |  |  | 10,925 |  |  | 415 |  |  | 7,559 |  |  | 8,875 |  |  | 16,849 |
Total other liabilities and deferred credits | 264 |  |  | 4,979 |  |  | 16,167 |  |  | 21,410 |  |  | 333 |  |  | 9,790 |  |  | 15,511 |  |  | 25,634 |
COMMITMENTS AND CONTINGENCIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TOTAL CAPITALIZATION AND LIABILITIES | $ | 34,865 |  |  | $ | 45,555 |  |  | $ | 18,183 |  |  | $ | 98,603 |  |  | $ | 28,869 |  |  | $ | 47,767 |  |  | $ | 21,191 |  |  | $ | 97,827 |
———————————————
(a) | Represents primarily FPL and consolidating adjustments.
Condensed Cash Flow Statement | Condensed Consolidating Statements of Cash Flows
| Nine Months Ended September 30,
| 2018 |  | 2017(a)
| NEE (Guaran- tor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated |  | NEE (Guaran- tor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ | 2,839 |  |  | $ | 1,578 |  |  | $ | 808 |  |  | $ | 5,225 |  |  | $ | 1,464 |  |  | $ | 1,937 |  |  | $ | 1,928 |  |  | $ | 5,329 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures, independent power and other investments and nuclear fuel purchases | (124 | ) |  | (5,536 | ) |  | (3,597 | ) |  | (9,257 | ) |  | — |  |  | (4,808 | ) |  | (3,779 | ) |  | (8,587 | )
Proceeds from sale of the fiber-optic telecommunications business | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,482 |  |  | — |  |  | 1,482 |
Capital contributions from NEE | (1,798 | ) |  | — |  |  | 1,798 |  |  | — |  |  | (46 | ) |  | — |  |  | 46 |  |  | — |
Sale of independent power and other investments of NEER | — |  |  | 327 |  |  | — |  |  | 327 |  |  | — |  |  | 159 |  |  | — |  |  | 159 |
Proceeds from sale or maturity of securities in special use funds and other investments | — |  |  | 955 |  |  | 1,624 |  |  | 2,579 |  |  | — |  |  | 819 |  |  | 1,240 |  |  | 2,059 |
Purchases of securities in special use funds and other investments | — |  |  | (1,074 | ) |  | (1,786 | ) |  | (2,860 | ) |  | — |  |  | (827 | ) |  | (1,319 | ) |  | (2,146 | )
Distributions from equity method investees | — |  |  | 637 |  |  | — |  |  | 637 |  |  | — |  |  | — |  |  | 7 |  |  | 7 |
Other - net | 12 |  |  | (203 | ) |  | 204 |  |  | 13 |  |  | 7 |  |  | 177 |  |  | (9 | ) |  | 175 |
Net cash used in investing activities | (1,910 | ) |  | (4,894 | ) |  | (1,757 | ) |  | (8,561 | ) |  | (39 | ) |  | (2,998 | ) |  | (3,814 | ) |  | (6,851 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issuances of long-term debt | — |  |  | 2,434 |  |  | 1,594 |  |  | 4,028 |  |  | — |  |  | 4,995 |  |  | 201 |  |  | 5,196 |
Retirements of long-term debt | — |  |  | (1,014 | ) |  | (1,579 | ) |  | (2,593 | ) |  | — |  |  | (3,819 | ) |  | (73 | ) |  | (3,892 | )
Proceeds from differential membership investors | — |  |  | 103 |  |  | — |  |  | 103 |  |  | — |  |  | 340 |  |  | — |  |  | 340 |
Net change in commercial paper | — |  |  | 2,255 |  |  | (1,482 | ) |  | 773 |  |  | — |  |  | 995 |  |  | 811 |  |  | 1,806 |
Proceeds from other short-term debt | — |  |  | 625 |  |  | — |  |  | 625 |  |  | — |  |  | — |  |  | 200 |  |  | 200 |
Repayments of other short-term debt | — |  |  | (200 | ) |  | (250 | ) |  | (450 | ) |  | — |  |  | — |  |  | (2 | ) |  | (2 | )
Payments from related parties under CSCS agreement - net | — |  |  | 720 |  |  | — |  |  | 720 |  |  | — |  |  | — |  |  | — |  |  | — |
Issuances of common stock - net | 714 |  |  | — |  |  | — |  |  | 714 |  |  | 36 |  |  | — |  |  | — |  |  | 36 |
Dividends on common stock | (1,570 | ) |  | — |  |  | — |  |  | (1,570 | ) |  | (1,382 | ) |  | — |  |  | — |  |  | (1,382 | )
Contributions from (dividends to) NEE | — |  |  | (2,727 | ) |  | 2,727 |  |  | — |  |  | — |  |  | (722 | ) |  | 722 |  |  | — |
Other - net | (73 | ) |  | (172 | ) |  | (30 | ) |  | (275 | ) |  | (79 | ) |  | (457 | ) |  | (4 | ) |  | (540 | )
Net cash provided by (used in) financing activities | (929 | ) |  | 2,024 |  |  | 980 |  |  | 2,075 |  |  | (1,425 | ) |  | 1,332 |  |  | 1,855 |  |  | 1,762 |
Effects of currency translation on cash, cash equivalents and restricted cash | — |  |  | (1 | ) |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | — |
Net increase (decrease) in cash, cash equivalents and restricted cash | — |  |  | (1,293 | ) |  | 31 |  |  | (1,262 | ) |  | — |  |  | 271 |  |  | (31 | ) |  | 240 |
Cash, cash equivalents and restricted cash at beginning of period | 1 |  |  | 1,807 |  |  | 175 |  |  | 1,983 |  |  | 1 |  |  | 1,375 |  |  | 153 |  |  | 1,529 |
Cash, cash equivalents and restricted cash at end of period | $ | 1 |  |  | $ | 514 |  |  | $ | 206 |  |  | $ | 721 |  |  | $ | 1 |  |  | $ | 1,646 |  |  | $ | 122 |  |  | $ | 1,769 |
———————————————
(a) | Prior period amounts have been retrospectively adjusted as discussed in Note 11 - Restricted Cash.
(b) | Represents primarily FPL and consolidating adjustments.

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