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Summarized Financial Information of NEECH (Tables) | 9 Months Ended
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Sep. 30, 2019
Summarized Financial Information [Abstract] |
Condensed Consolidating Statements of Income | Condensed Consolidating Statements of Income
| Three Months Ended September 30,
| 2019 |  | 2018(a)
| NEE (Guarantor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated |  | NEE (Guarantor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
Operating revenues | $ | — |  |  | $ | 1,684 |  |  | $ | 3,888 |  |  | $ | 5,572 |  |  | $ | — |  |  | $ | 1,052 |  |  | $ | 3,364 |  |  | $ | 4,416 |
Operating expenses - net | (55 | ) |  | (1,121 | ) |  | (2,803 | ) |  | (3,979 | ) |  | (46 | ) |  | (941 | ) |  | (2,461 | ) |  | (3,448 | )
Interest expense | (1 | ) |  | (580 | ) |  | (165 | ) |  | (746 | ) |  | (5 | ) |  | (27 | ) |  | (136 | ) |  | (168 | )
Equity in earnings of subsidiaries | 879 |  |  | — |  |  | (879 | ) |  | — |  |  | 961 |  |  | — |  |  | (961 | ) |  | — |
Equity in earnings (losses) of equity method investees | — |  |  | (90 | ) |  | — |  |  | (90 | ) |  | — |  |  | 122 |  |  | — |  |  | 122 |
Other income - net | 50 |  |  | 33 |  |  | 16 |  |  | 99 |  |  | 37 |  |  | 82 |  |  | 25 |  |  | 144 |
Income (loss) before income taxes | 873 |  |  | (74 | ) |  | 57 |  |  | 856 |  |  | 947 |  |  | 288 |  |  | (169 | ) |  | 1,066 |
Income tax expense (benefit) | (6 | ) |  | (109 | ) |  | 173 |  |  | 58 |  |  | (58 | ) |  | 51 |  |  | 132 |  |  | 125 |
Net income (loss) | 879 |  |  | 35 |  |  | (116 | ) |  | 798 |  |  | 1,005 |  |  | 237 |  |  | (301 | ) |  | 941 |
Net loss attributable to noncontrolling interests | — |  |  | 81 |  |  | — |  |  | 81 |  |  | — |  |  | 64 |  |  | — |  |  | 64 |
Net income (loss) attributable to NEE | $ | 879 |  |  | $ | 116 |  |  | $ | (116 | ) |  | $ | 879 |  |  | $ | 1,005 |  |  | $ | 301 |  |  | $ | (301 | ) |  | $ | 1,005 |
| Nine Months Ended September 30,
| 2019 |  | 2018(a)
| NEE (Guarantor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated |  | NEE (Guarantor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
Operating revenues | $ | — |  |  | $ | 4,325 |  |  | $ | 10,291 |  |  | $ | 14,616 |  |  | $ | — |  |  | $ | 3,512 |  |  | $ | 8,825 |  |  | $ | 12,337 |
Operating expenses - net | (153 | ) |  | (2,602 | ) |  | (7,385 | ) |  | (10,140 | ) |  | (159 | ) |  | (2,705 | ) |  | (6,300 | ) |  | (9,164 | )
Interest expense | (2 | ) |  | (1,576 | ) |  | (483 | ) |  | (2,061 | ) |  | (16 | ) |  | (363 | ) |  | (409 | ) |  | (788 | )
Equity in earnings of subsidiaries | 2,808 |  |  | — |  |  | (2,808 | ) |  | — |  |  | 6,119 |  |  | — |  |  | (6,119 | ) |  | — |
Equity in earnings (losses) of equity method investees | — |  |  | (80 | ) |  | — |  |  | (80 | ) |  | — |  |  | 371 |  |  | — |  |  | 371 |
Gain on NEP deconsolidation | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,927 |  |  | — |  |  | 3,927 |
Other income - net | 138 |  |  | 275 |  |  | 52 |  |  | 465 |  |  | 138 |  |  | 174 |  |  | 69 |  |  | 381 |
Income (loss) before income taxes | 2,791 |  |  | 342 |  |  | (333 | ) |  | 2,800 |  |  | 6,082 |  |  | 4,916 |  |  | (3,934 | ) |  | 7,064 |
Income tax expense (benefit) | (3 | ) |  | (135 | ) |  | 394 |  |  | 256 |  |  | (134 | ) |  | 1,316 |  |  | 420 |  |  | 1,602 |
Net income (loss) | 2,794 |  |  | 477 |  |  | (727 | ) |  | 2,544 |  |  | 6,216 |  |  | 3,600 |  |  | (4,354 | ) |  | 5,462 |
Net loss attributable to noncontrolling interests | — |  |  | 250 |  |  | — |  |  | 250 |  |  | — |  |  | 754 |  |  | — |  |  | 754 |
Net income (loss) attributable to NEE | $ | 2,794 |  |  | $ | 727 |  |  | $ | (727 | ) |  | $ | 2,794 |  |  | $ | 6,216 |  |  | $ | 4,354 |  |  | $ | (4,354 | ) |  | $ | 6,216 |
———————————————
(a) | Amounts have been retrospectively adjusted for an accounting standards update related to leases.
(b) Represents primarily FPL and consolidating adjustments.
Condensed Consolidating Statements of Comprehensive Income | Condensed Consolidating Statements of Comprehensive Income
| Three Months Ended September 30,
| 2019 |  | 2018(a)
| NEE (Guarantor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated |  | NEE (Guarantor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
Comprehensive income (loss) attributable to NEE | $ | 889 |  |  | $ | 127 |  |  | $ | (127 | ) |  | $ | 889 |  |  | $ | 1,021 |  |  | $ | 318 |  |  | $ | (318 | ) |  | $ | 1,021 |
| Nine Months Ended September 30,
| 2019 |  | 2018(a)
| NEE (Guarantor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated |  | NEE (Guarantor) |  | NEECH |  | Other(b) |  | NEE Consoli- dated
|  |  |  |  |  |  | (millions) |  |  |  |  |  |
Comprehensive income (loss) attributable to NEE | $ | 2,802 |  |  | $ | 790 |  |  | $ | (790 | ) |  | $ | 2,802 |  |  | $ | 6,276 |  |  | $ | 4,418 |  |  | $ | (4,418 | ) |  | $ | 6,276 |
———————————————
(a) | Amounts have been retrospectively adjusted for an accounting standards update related to leases.
(b) | Represents primarily FPL and consolidating adjustments.
Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets
| September 30, 2019 |  | December 31, 2018
| 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 | $ | 434 |  |  | $ | 39,969 |  |  | $ | 63,340 |  |  | $ | 103,743 |  |  | $ | 220 |  |  | $ | 37,145 |  |  | $ | 54,718 |  |  | $ | 92,083 |
Accumulated depreciation and amortization | (98 | ) |  | (9,346 | ) |  | (15,304 | ) |  | (24,748 | ) |  | (58 | ) |  | (8,473 | ) |  | (13,218 | ) |  | (21,749 | )
Total property, plant and equipment - net | 336 |  |  | 30,623 |  |  | 48,036 |  |  | 78,995 |  |  | 162 |  |  | 28,672 |  |  | 41,500 |  |  | 70,334 |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 1 |  |  | 988 |  |  | 142 |  |  | 1,131 |  |  | (1 | ) |  | 525 |  |  | 114 |  |  | 638 |
Receivables | 124 |  |  | 1,706 |  |  | 1,500 |  |  | 3,330 |  |  | 292 |  |  | 1,771 |  |  | 906 |  |  | 2,969 |
Other | 7 |  |  | 1,648 |  |  | 1,563 |  |  | 3,218 |  |  | 5 |  |  | 1,425 |  |  | 1,356 |  |  | 2,786 |
Total current assets | 132 |  |  | 4,342 |  |  | 3,205 |  |  | 7,679 |  |  | 296 |  |  | 3,721 |  |  | 2,376 |  |  | 6,393 |
OTHER ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries | 36,255 |  |  | — |  |  | (36,255 | ) |  | — |  |  | 33,397 |  |  | — |  |  | (33,397 | ) |  | — |
Investment in equity method investees | — |  |  | 7,179 |  |  | 1 |  |  | 7,180 |  |  | — |  |  | 6,748 |  |  | — |  |  | 6,748 |
Goodwill | 1 |  |  | 1,220 |  |  | 2,908 |  |  | 4,129 |  |  | 1 |  |  | 587 |  |  | 303 |  |  | 891 |
Other | 471 |  |  | 6,722 |  |  | 9,046 |  |  | 16,239 |  |  | 937 |  |  | 5,890 |  |  | 12,509 |  |  | 19,336 |
Total other assets | 36,727 |  |  | 15,121 |  |  | (24,300 | ) |  | 27,548 |  |  | 34,335 |  |  | 13,225 |  |  | (20,585 | ) |  | 26,975 |
TOTAL ASSETS | $ | 37,195 |  |  | $ | 50,086 |  |  | $ | 26,941 |  |  | $ | 114,222 |  |  | $ | 34,793 |  |  | $ | 45,618 |  |  | $ | 23,291 |  |  | $ | 103,702 |
CAPITALIZATION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common shareholders' equity | $ | 36,592 |  |  | $ | 10,845 |  |  | $ | (10,845 | ) |  | $ | 36,592 |  |  | $ | 34,144 |  |  | $ | 7,917 |  |  | $ | (7,917 | ) |  | $ | 34,144 |
Noncontrolling interests | — |  |  | 3,582 |  |  | — |  |  | 3,582 |  |  | — |  |  | 3,269 |  |  | — |  |  | 3,269 |
Redeemable noncontrolling interests | — |  |  | 66 |  |  | — |  |  | 66 |  |  | — |  |  | 468 |  |  | — |  |  | 468 |
Long-term debt | — |  |  | 20,589 |  |  | 15,555 |  |  | 36,144 |  |  | — |  |  | 15,094 |  |  | 11,688 |  |  | 26,782 |
Total capitalization | 36,592 |  |  | 35,082 |  |  | 4,710 |  |  | 76,384 |  |  | 34,144 |  |  | 26,748 |  |  | 3,771 |  |  | 64,663 |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt due within one year | — |  |  | 4,841 |  |  | 802 |  |  | 5,643 |  |  | — |  |  | 9,579 |  |  | 1,351 |  |  | 10,930 |
Accounts payable | 2 |  |  | 2,067 |  |  | 769 |  |  | 2,838 |  |  | 32 |  |  | 1,730 |  |  | 624 |  |  | 2,386 |
Other | 348 |  |  | 1,923 |  |  | 2,562 |  |  | 4,833 |  |  | 168 |  |  | 2,364 |  |  | 1,715 |  |  | 4,247 |
Total current liabilities | 350 |  |  | 8,831 |  |  | 4,133 |  |  | 13,314 |  |  | 200 |  |  | 13,673 |  |  | 3,690 |  |  | 17,563 |
OTHER LIABILITIES AND DEFERRED CREDITS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset retirement obligations | — |  |  | 1,063 |  |  | 2,375 |  |  | 3,438 |  |  | — |  |  | 988 |  |  | 2,147 |  |  | 3,135 |
Deferred income taxes | (432 | ) |  | 2,756 |  |  | 5,785 |  |  | 8,109 |  |  | (157 | ) |  | 2,778 |  |  | 4,746 |  |  | 7,367 |
Other | 685 |  |  | 2,354 |  |  | 9,938 |  |  | 12,977 |  |  | 606 |  |  | 1,431 |  |  | 8,937 |  |  | 10,974 |
Total other liabilities and deferred credits | 253 |  |  | 6,173 |  |  | 18,098 |  |  | 24,524 |  |  | 449 |  |  | 5,197 |  |  | 15,830 |  |  | 21,476 |
COMMITMENTS AND CONTINGENCIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TOTAL CAPITALIZATION AND LIABILITIES | $ | 37,195 |  |  | $ | 50,086 |  |  | $ | 26,941 |  |  | $ | 114,222 |  |  | $ | 34,793 |  |  | $ | 45,618 |  |  | $ | 23,291 |  |  | $ | 103,702 |
——————————————— (a) Represents primarily FPL and consolidating adjustments.
Condensed Cash Flow Statement | Condensed Consolidating Statements of Cash Flows
| Nine Months Ended September 30,
| 2019 |  | 2018(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 | $ | 2,774 |  |  | $ | 1,564 |  |  | $ | 1,905 |  |  | $ | 6,243 |  |  | $ | 2,839 |  |  | $ | 1,578 |  |  | $ | 814 |  |  | $ | 5,231 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures, acquisitions, independent power and other investments and nuclear fuel purchases | (202 | ) |  | (4,725 | ) |  | (8,686 | ) |  | (13,613 | ) |  | (124 | ) |  | (5,536 | ) |  | (3,597 | ) |  | (9,257 | )
Capital contributions from NEE | (2,219 | ) |  | — |  |  | 2,219 |  |  | — |  |  | (1,798 | ) |  | — |  |  | 1,798 |  |  | — |
Sale of independent power and other investments of NEER | — |  |  | 1,003 |  |  | — |  |  | 1,003 |  |  | — |  |  | 327 |  |  | — |  |  | 327 |
Proceeds from sale or maturity of securities in special use funds and other investments | — |  |  | 1,014 |  |  | 1,798 |  |  | 2,812 |  |  | — |  |  | 955 |  |  | 1,624 |  |  | 2,579 |
Purchases of securities in special use funds and other investments | — |  |  | (1,017 | ) |  | (1,884 | ) |  | (2,901 | ) |  | — |  |  | (1,074 | ) |  | (1,786 | ) |  | (2,860 | )
Distributions from equity method investees of independent power investments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 637 |  |  | — |  |  | 637 |
Other - net | — |  |  | 192 |  |  | 44 |  |  | 236 |  |  | 12 |  |  | (203 | ) |  | 204 |  |  | 13 |
Net cash used in investing activities | (2,421 | ) |  | (3,533 | ) |  | (6,509 | ) |  | (12,463 | ) |  | (1,910 | ) |  | (4,894 | ) |  | (1,757 | ) |  | (8,561 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issuances of long-term debt | — |  |  | 8,021 |  |  | 2,902 |  |  | 10,923 |  |  | — |  |  | 2,434 |  |  | 1,594 |  |  | 4,028 |
Retirements of long-term debt | — |  |  | (3,371 | ) |  | (190 | ) |  | (3,561 | ) |  | — |  |  | (1,014 | ) |  | (1,579 | ) |  | (2,593 | )
Net change in commercial paper | — |  |  | 422 |  |  | (656 | ) |  | (234 | ) |  | — |  |  | 2,255 |  |  | (1,482 | ) |  | 773 |
Proceeds from other short-term debt | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 625 |  |  | — |  |  | 625 |
Repayments of other short-term debt | — |  |  | (4,725 | ) |  | — |  |  | (4,725 | ) |  | — |  |  | (200 | ) |  | (250 | ) |  | (450 | )
Payments from related parties under CSCS agreement - net | — |  |  | 460 |  |  | — |  |  | 460 |  |  | — |  |  | 720 |  |  | — |  |  | 720 |
Issuances of common stock - net | 1,488 |  |  | — |  |  | — |  |  | 1,488 |  |  | 714 |  |  | — |  |  | — |  |  | 714 |
Dividends on common stock | (1,797 | ) |  | — |  |  | — |  |  | (1,797 | ) |  | (1,570 | ) |  | — |  |  | — |  |  | (1,570 | )
Contributions from (dividends to) NEE | — |  |  | 1,840 |  |  | (1,840 | ) |  | — |  |  | — |  |  | (2,727 | ) |  | 2,727 |  |  | — |
Other - net | (42 | ) |  | 51 |  |  | (40 | ) |  | (31 | ) |  | (73 | ) |  | (69 | ) |  | (36 | ) |  | (178 | )
Net cash provided by (used in) financing activities | (351 | ) |  | 2,698 |  |  | 176 |  |  | 2,523 |  |  | (929 | ) |  | 2,024 |  |  | 974 |  |  | 2,069 |
Effects of currency translation on cash, cash equivalents and restricted cash | — |  |  | 2 |  |  | — |  |  | 2 |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
Net increase (decrease) in cash, cash equivalents and restricted cash | 2 |  |  | 731 |  |  | (4,428 | ) |  | (3,695 | ) |  | — |  |  | (1,293 | ) |  | 31 |  |  | (1,262 | )
Cash, cash equivalents and restricted cash at beginning of period | (1 | ) |  | 533 |  |  | 4,721 |  |  | 5,253 |  |  | 1 |  |  | 1,807 |  |  | 175 |  |  | 1,983 |
Cash, cash equivalents and restricted cash at end of period | $ | 1 |  |  | $ | 1,264 |  |  | $ | 293 |  |  | $ | 1,558 |  |  | $ | 1 |  |  | $ | 514 |  |  | $ | 206 |  |  | $ | 721 |
———————————————
(a) | Amounts have been retrospectively adjusted for an accounting standards update related to leases.
(b) Represents primarily FPL and consolidating adjustments.

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