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Equity | 9 Months Ended
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Sep. 30, 2020
Equity [Abstract] |
Equity | Equity Earnings Per Share - The reconciliation of NEE's basic and diluted earnings per share attributable to NEE is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
| (millions, except per share amounts)
Numerator: |  |  |  |  |  |  |
Net income attributable to NEE - basic | $ | 1,229 |  |  | $ | 879 |  |  | $ | 2,924 |  |  | $ | 2,794 |
Adjustment for the impact of dilutive securities at NEP(a) | (1 | ) |  | — |  |  | — |  |  | — |
Net income attributable to NEE - assuming dilution | $ | 1,228 |  |  | $ | 879 |  |  | $ | 2,924 |  |  | $ | 2,794 |
Denominator: |  |  |  |  |  |  |
Weighted-average number of common shares outstanding - basic | 489.9 |  |  | 481.9 |  |  | 489.6 |  |  | 479.7 |
Equity units, stock options, performance share awards and restricted stock(b) | 2.3 |  |  | 4.1 |  |  | 2.3 |  |  | 3.8 |
Weighted-average number of common shares outstanding - assuming dilution | 492.2 |  |  | 486.0 |  |  | 491.9 |  |  | 483.5 |
Earnings per share attributable to NEE: |  |  |  |  |  |  |
Basic | $ | 2.51 |  |  | $ | 1.82 |  |  | $ | 5.97 |  |  | $ | 5.82 |
Assuming dilution | $ | 2.50 |  |  | $ | 1.81 |  |  | $ | 5.94 |  |  | $ | 5.78 |
———————————————
(a) | The three months ended September 30, 2020 adjustment is related to the NEP Series A convertible preferred units. During the three months ended September 30, 2019, approximately $183 million of NEP's Series A convertible preferred units were converted into NEP common units. During the three months ended September 30, 2020, substantially all of NEP's convertible notes and approximately $71 million of its Series A convertible preferred units were converted into NEP common units. Additionally, in October 2020, approximately $46 million of NEP's Series A convertible preferred units were converted into NEP common units.
(b) | Calculated using the treasury stock method. Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.
Common shares issuable pursuant to equity units, stock options and/or performance share awards, as well as restricted stock which were not included in the denominator above due to their antidilutive effect were approximately 11.5 million and 2.2 million for the three months ended September 30, 2020 and 2019, respectively, and 9.0 million and 1.0 million for the nine months ended September 30, 2020 and 2019, respectively. On September 14, 2020, NEE's board of directors approved a four-for-one split of NEE common stock effective October 26, 2020 (2020 stock split). NEE's authorized common stock will increase from 800 million to 3.2 billion shares. Trading will begin on a stock split-adjusted basis on October 27, 2020. The pro forma earnings per share attributable to NEE, assuming dilution, for the three and nine months ended September 30, 2020 and 2019, adjusted for the 2020 stock split, are $0.62, $0.45, $1.49 and $1.44, respectively. Share-based data included in this Form 10-Q, other than the pro forma amounts in the preceding sentence, have not been adjusted to reflect the 2020 stock split. Accumulated Other Comprehensive Income (Loss) - The components of AOCI, net of tax, are as follows:
| Accumulated Other Comprehensive Income (Loss)
| Net Unrealized Gains (Losses) on Cash Flow Hedges |  | Net Unrealized Gains (Losses) on Available for Sale Securities |  | Defined Benefit Pension and Other Benefits Plans |  | Net Unrealized Gains (Losses) on Foreign Currency Translation |  | Other Comprehensive Income (Loss) Related to Equity Method Investees |  | Total
| (millions)
Nine Months Ended September 30, 2020 |
Balances, December 31, 2019 | $ | (27 | ) |  | $ | 11 |  |  | $ | (114 | ) |  | $ | (42 | ) |  | $ | 3 |  |  | $ | (169 | )
Other comprehensive loss before reclassifications | — |  |  | (8 | ) |  | — |  |  | (35 | ) |  | — |  |  | (43 | )
Amounts reclassified from AOCI | 2 |  | (a) | (1 | ) | (b) | 3 |  | (c) | — |  |  | — |  |  | 4 |
Net other comprehensive income (loss) | 2 |  |  | (9 | ) |  | 3 |  |  | (35 | ) |  | — |  |  | (39 | )
Impact of disposal of a business | 23 |  | (d) | — |  |  | — |  |  | (13 | ) | (d) | — |  |  | 10 |
Balances, March 31, 2020 | (2 | ) |  | 2 |  |  | (111 | ) |  | (90 | ) |  | 3 |  |  | (198 | )
Other comprehensive income before reclassifications | — |  |  | 14 |  |  | — |  |  | 17 |  |  | — |  |  | 31 |
Amounts reclassified from AOCI | 3 |  | (a) | — |  |  | (2 | ) | (c) | — |  |  | — |  |  | 1 |
Net other comprehensive income (loss) | 3 |  |  | 14 |  |  | (2 | ) |  | 17 |  |  | — |  |  | 32 |
Balances, June 30, 2020 | 1 |  |  | 16 |  |  | (113 | ) |  | (73 | ) |  | 3 |  |  | (166 | )
Other comprehensive income before reclassifications | — |  |  | 3 |  |  | — |  |  | 8 |  |  | — |  |  | 11 |
Amounts reclassified from AOCI | 2 |  | (a) | (1 | ) | (b) | 1 |  | (c) | — |  |  | — |  |  | 2 |
Net other comprehensive income | 2 |  |  | 2 |  |  | 1 |  |  | 8 |  |  | — |  |  | 13 |
Balances, September 30, 2020 | $ | 3 |  |  | $ | 18 |  |  | $ | (112 | ) |  | $ | (65 | ) |  | $ | 3 |  |  | $ | (153 | )
Attributable to noncontrolling interests | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | (1 | )
Attributable to NEE | $ | 3 |  |  | $ | 18 |  |  | $ | (112 | ) |  | $ | (64 | ) |  | $ | 3 |  |  | $ | (152 | )
———————————————
(a) | Reclassified to interest expense in NEE's condensed consolidated statements of income. See Note 4 - Income Statement Impact of Derivative Instruments.
(b) | Reclassified to gains on disposal of investments and other property - net in NEE's condensed consolidated statements of income.
(c) | Reclassified to other net periodic benefit income in NEE's condensed consolidated statements of income.
(d) | Reclassified to gains on disposal of businesses/assets - net and interest expense in NEE's condensed consolidated statements of income. See Note 4 - Income Statement Impact of Derivative Instruments. See Note 11 - Disposal of Businesses.
| Accumulated Other Comprehensive Income (Loss)
| Net Unrealized Gains (Losses) on Cash Flow Hedges |  | Net Unrealized Gains (Losses) on Available for Sale Securities |  | Defined Benefit Pension and Other Benefits Plans |  | Net Unrealized Gains (Losses) on Foreign Currency Translation |  | Other Comprehensive Income (Loss) Related to Equity Method Investees |  | Total
| (millions)
Nine Months Ended September 30, 2019 |
Balances, December 31, 2018 | $ | (55 | ) |  | $ | (7 | ) |  | $ | (65 | ) |  | $ | (63 | ) |  | $ | 2 |  |  | $ | (188 | )
Other comprehensive income (loss) before reclassifications | — |  |  | 8 |  |  | (52 | ) |  | 10 |  |  | (1 | ) |  | (35 | )
Amounts reclassified from AOCI | 10 |  | (a) | 2 |  | (b) | (1 | ) | (c) | — |  |  | — |  |  | 11 |
Net other comprehensive income (loss) | 10 |  |  | 10 |  |  | (53 | ) |  | 10 |  |  | (1 | ) |  | (24 | )
Acquisition of Gulf Power | (1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1 | )
Balances, March 31, 2019 | (46 | ) |  | 3 |  |  | (118 | ) |  | (53 | ) |  | 1 |  |  | (213 | )
Other comprehensive income (loss) before reclassifications | — |  |  | 7 |  |  | (1 | ) |  | 8 |  |  | 1 |  |  | 15 |
Amounts reclassified from AOCI | 8 |  | (a) | (1 | ) | (b) | — |  |  | — |  |  | — |  |  | 7 |
Net other comprehensive income (loss) | 8 |  |  | 6 |  |  | (1 | ) |  | 8 |  |  | 1 |  |  | 22 |
Balances, June 30, 2019 | (38 | ) |  | 9 |  |  | (119 | ) |  | (45 | ) |  | 2 |  |  | (191 | )
Other comprehensive income before reclassifications | — |  |  | 4 |  |  | — |  |  | 1 |  |  | 1 |  |  | 6 |
Amounts reclassified from AOCI | 6 |  | (a) | (1 | ) | (b) | (1 | ) | (c) | — |  |  | — |  |  | 4 |
Net other comprehensive income (loss) | 6 |  |  | 3 |  |  | (1 | ) |  | 1 |  |  | 1 |  |  | 10 |
Balances, September 30, 2019 | $ | (32 | ) |  | $ | 12 |  |  | $ | (120 | ) |  | $ | (44 | ) |  | $ | 3 |  |  | $ | (181 | )
———————————————
(a) | Reclassified to interest expense in NEE's condensed consolidated statements of income. See Note 4 - Income Statement Impact of Derivative Instruments.
(b) | Reclassified to gains on disposal of investments and other property - net in NEE's condensed consolidated statements of income.
(c) Reclassified to other net periodic benefit income in NEE's condensed consolidated statements of income.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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