XML 46 R26.htm IDEA: XBRL DOCUMENT
v3.20.2

Income Taxes (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Income Tax Disclosure [Abstract] |
Reconciliation Between the Effective Income Tax Rates and the Applicable Statutory Rate | reconciliation between the effective income tax rates and the applicable statutory rate is as follows:
| NEE |  | FPL |  | NEE |  | FPL
| Three Months Ended September 30, |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019
Statutory federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increases (reductions) resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State income taxes - net of federal income tax benefit(a) | 1.9 |  |  | 4.3 |  |  | 3.7 |  |  | 3.9 |  |  | 1.3 |  |  | 3.4 |  |  | 4.0 |  |  | 3.3 |
Taxes attributable to noncontrolling interests | 1.8 |  |  | 2.0 |  |  | — |  |  | — |  |  | 2.9 |  |  | 1.9 |  |  | — |  |  | — |
PTCs and ITCs - NEER | (7.4 | ) |  | (11.5 | ) |  | — |  |  | — |  |  | (8.7 | ) |  | (7.9 | ) |  | — |  |  | — |
Amortization of deferred regulatory credit(b) | (4.4 | ) |  | (5.6 | ) |  | (5.6 | ) |  | (5.2 | ) |  | (5.4 | ) |  | (7.0 | ) |  | (5.2 | ) |  | (8.0 | )
Foreign operations(c) | — |  |  | — |  |  | — |  |  | — |  |  | (2.2 | ) |  | — |  |  | — |  |  | — |
Other - net | (2.6 | ) |  | (3.4 | ) |  | (0.9 | ) |  | (1.6 | ) |  | (5.9 | ) |  | (2.3 | ) |  | (1.3 | ) |  | (0.7 | )
Effective income tax rate | 10.3 | % |  | 6.8 | % |  | 18.2 | % |  | 18.1 | % |  | 3.0 | % |  | 9.1 | % |  | 18.5 | % |  | 15.6 | %
———————————————
(a) | The three and nine months ended September 30, 2019 reflect a valuation allowance of approximately $48 million related to deferred state tax credits.
(b) | The nine months ended September 30, 2019 reflects a second quarter 2019 adjustment of approximately $83 million recorded by FPL to reduce income tax expense for the cumulative amortization of excess deferred income taxes from January 1, 2018 as a result of the FPSC's order in connection with its review of impacts associated with tax reform. One of the provisions of the order requires FPL to amortize approximately $870 million of its excess deferred income taxes over a period not to exceed ten years.
(c) The gain on sale of the Spain solar projects was not taxable for federal and state income tax purposes (see Note 11 - Disposal of Businesses).

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration