XML 41 R25.htm IDEA: XBRL DOCUMENT
v3.20.2

Derivative Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Derivative [Line Items] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The tables below present NEE's and FPL's gross derivative positions at June 30, 2020 and December 31, 2019, 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.
| June 30, 2020
| Gross Basis |  | Net Basis
| Assets |  | Liabilities |  | Assets |  | Liabilities
| (millions)
NEE: |  |  |  |  |  |  |
Commodity contracts | $ | 5,473 |  |  | $ | 3,428 |  |  | $ | 2,463 |  |  | $ | 546 |
Interest rate contracts | 38 |  |  | 1,470 |  |  | 8 |  |  | 1,440 |
Foreign currency contracts | — |  |  | 67 |  |  | (1 | ) |  | 66 |
Total fair values | $ | 5,511 |  |  | $ | 4,965 |  |  | $ | 2,470 |  |  | $ | 2,052 |
FPL: |  |  |  |  |  |  |
Commodity contracts | $ | 4 |  |  | $ | 13 |  |  | $ | 2 |  |  | $ | 11 |
Net fair value by NEE balance sheet line item: |  |  |  |  |  |  |
Current derivative assets(a) |  |  |  |  | $ | 708 |  |  |
Noncurrent derivative assets(b) |  |  |  |  | 1,762 |  |  |
Current derivative liabilities(c) |  |  |  |  |  |  | $ | 337 |
Noncurrent derivative liabilities |  |  |  |  |  |  | 1,715 |
Total derivatives |  |  |  |  | $ | 2,470 |  |  | $ | 2,052 |
Net fair value by FPL balance sheet line item: |  |  |  |  |  |  |
Current other assets |  |  |  |  | $ | 2 |  |  |
Current other liabilities |  |  |  |  |  |  | $ | 11 |
Total derivatives |  |  |  |  | $ | 2 |  |  | $ | 11 |
———————————————
(a) | Reflects the netting of approximately $1 million in margin cash collateral received from counterparties.
(b) | Reflects the netting of approximately $202 million in margin cash collateral received from counterparties.
(c) | Reflects the netting of approximately $75 million in margin cash collateral paid to counterparties.
| December 31, 2019
| Gross Basis |  | Net Basis
| Assets |  | Liabilities |  | Assets |  | Liabilities
| (millions)
NEE: |  |  |  |  |  |  |
Commodity contracts | $ | 5,050 |  |  | $ | 3,201 |  |  | $ | 2,350 |  |  | $ | 576 |
Interest rate contracts | 26 |  |  | 742 |  |  | 9 |  |  | 725 |
Foreign currency contracts | 26 |  |  | 38 |  |  | 27 |  |  | 39 |
Total fair values | $ | 5,102 |  |  | $ | 3,981 |  |  | $ | 2,386 |  |  | $ | 1,340 |
FPL: |  |  |  |  |  |  |
Commodity contracts | $ | 4 |  |  | $ | 14 |  |  | $ | 3 |  |  | $ | 13 |
Net fair value by NEE balance sheet line item: |  |  |  |  |  |  |
Current derivative assets(a) |  |  |  |  | $ | 762 |  |  |
Noncurrent derivative assets(b) |  |  |  |  | 1,624 |  |  |
Current derivative liabilities(c) |  |  |  |  |  |  | $ | 344 |
Current other liabilities(d) |  |  |  |  |  |  | 133 |
Noncurrent derivative liabilities |  |  |  |  |  |  | 863 |
Total derivatives |  |  |  |  | $ | 2,386 |  |  | $ | 1,340 |
Net fair value by FPL balance sheet line item: |  |  |  |  |  |  |
Current other assets |  |  |  |  | $ | 3 |  |  |
Current other liabilities |  |  |  |  |  |  | $ | 12 |
Noncurrent other liabilities |  |  |  |  |  |  | 1 |
Total derivatives |  |  |  |  | $ | 3 |  |  | $ | 13 |
———————————————
(a) | Reflects the netting of approximately $2 million in margin cash collateral received from counterparties.
(b) | Reflects the netting of approximately $139 million in margin cash collateral received from counterparties.
(c) | Reflects the netting of approximately $66 million in margin cash collateral paid to counterparties.
(d) | See Note 11 - Disposal of Businesses.
Net Notional Volumes | NEE and FPL had derivative commodity contracts for the following net notional volumes:
|  | June 30, 2020 |  | December 31, 2019
Commodity Type |  | NEE |  | FPL |  | NEE |  | FPL
|  | (millions)
Power |  | (72 | ) |  | MWh |  | — |  |  | MWh |  | (81 | ) |  | MWh |  | 1 |  |  | MWh
Natural gas |  | (120 | ) |  | MMBtu |  | 229 |  |  | MMBtu |  | (1,723 | ) |  | MMBtu |  | 161 |  |  | MMBtu
Oil |  | (13 | ) |  | barrels |  | — |  |  |  |  | (13 | ) |  | 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,
| 2020 |  | 2019 |  | 2020 |  | 2019
| (millions)
Commodity contracts(a) - operating revenues | $ | (53 | ) |  | $ | 276 |  |  | $ | 572 |  |  | $ | 272 |
Foreign currency contracts - interest expense | 16 |  |  | 11 |  |  | (63 | ) |  | (8 | )
Interest rate contracts - interest expense | 64 |  |  | (204 | ) |  | (841 | ) |  | (530 | )
Losses reclassified from AOCI: |  |  |  |  |  |  |
Interest rate contracts(b) | (1 | ) |  | (6 | ) |  | (27 | ) |  | (18 | )
Foreign currency contracts - interest expense | (1 | ) |  | (1 | ) |  | (2 | ) |  | (2 | )
Total | $ | 25 |  |  | $ | 76 |  |  | $ | (361 | ) |  | $ | (286 | )
———————————————
(a) | For the three and six months ended June 30, 2020, FPL recorded gains of approximately $1 million and losses of approximately $2 million, respectively, related to commodity contracts as regulatory liabilities and regulatory assets, respectively, on its condensed consolidated balance sheets. For the three and six months ended June 30, 2019, FPL recorded gains of approximately $1 million and $4 million, respectively, related to commodity contracts as regulatory liabilities on its condensed consolidated balance sheets.
(b) | For the six months ended June 30, 2020, approximately $23 million was reclassified to gains on disposal of businesses/assets - net (see Note 11 - Disposal of Businesses); remaining balances were reclassified to interest expense on NEE's condensed consolidated statements of income.

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsGainLossLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |