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Non-Derivative Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Financial assets and liabilities and other fair value measurements | 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, as well as the location of the net derivative position on the consolidated balance sheets.
| December 31, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Netting(a) |  | Total
| (millions)
Assets: |  |  |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 919 |  |  | $ | 1,881 |  |  | $ | 1,679 |  |  | $ | (2,325) |  |  | $ | 2,154 |
Interest rate contracts | $ | — |  |  | $ | 81 |  |  | $ | — |  |  | $ | (41) |  |  | 40 |
Foreign currency contracts | $ | — |  |  | $ | 57 |  |  | $ | — |  |  | $ | (34) |  |  | 23 |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 2,217 |
FPL - commodity contracts | $ | — |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 3 |
Liabilities: |  |  |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 1,004 |  |  | $ | 1,468 |  |  | $ | 305 |  |  | $ | (2,277) |  |  | $ | 500 |
Interest rate contracts | $ | — |  |  | $ | 1,042 |  |  | $ | — |  |  | $ | (41) |  |  | 1,001 |
Foreign currency contracts | $ | — |  |  | $ | 43 |  |  | $ | — |  |  | $ | (34) |  |  | 9 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 1,510 |
FPL - commodity contracts | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |
Net fair value by NEE balance sheet line item: |  |  |  |  |  |  |  |  |
Current derivative assets |  |  |  |  |  |  |  |  | $ | 570 |
Noncurrent derivative assets(b) |  |  |  |  |  |  |  |  | 1,647 |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 2,217 |
Current derivative liabilities(c) |  |  |  |  |  |  |  |  | $ | 311 |
Noncurrent derivative liabilities |  |  |  |  |  |  |  |  | 1,199 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 1,510 |
Net fair value by FPL balance sheet line item: |  |  |  |  |  |  |  |  |
Current other assets |  |  |  |  |  |  |  |  | $ | 3 |
Current other liabilities |  |  |  |  |  |  |  |  | $ | 2 |
Noncurrent other liabilities |  |  |  |  |  |  |  |  | 1 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 3 |
______________________ (a)Includes the effect of the contractual ability to settle contracts under master netting arrangements and the netting of margin cash collateral payments and receipts. NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the consolidated balance sheets and are recorded in customer receivables - net and accounts payable, respectively. (b)Reflects the netting of approximately $184 million in margin cash collateral received from counterparties. (c)Reflects the netting of approximately $136 million in margin cash collateral paid to counterparties.
| December 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Netting(a) |  | Total
| (millions) |  |
Assets: |  |  |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 1,229 |  |  | $ | 2,082 |  |  | $ | 1,739 |  |  | $ | (2,700) |  |  | $ | 2,350 |
Interest rate contracts | $ | — |  |  | $ | 24 |  |  | $ | 2 |  |  | $ | (17) |  |  | 9 |
Foreign currency contracts | $ | — |  |  | $ | 26 |  |  | $ | — |  |  | $ | 1 |  |  | 27 |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 2,386 |
FPL - commodity contracts | $ | — |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | (1) |  |  | $ | 3 |
Liabilities: |  |  |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 1,365 |  |  | $ | 1,446 |  |  | $ | 390 |  |  | $ | (2,625) |  |  | $ | 576 |
Interest rate contracts | $ | — |  |  | $ | 598 |  |  | $ | 144 |  |  | $ | (17) |  |  | 725 |
Foreign currency contracts | $ | — |  |  | $ | 38 |  |  | $ | — |  |  | $ | 1 |  |  | 39 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 1,340 |
FPL - commodity contracts | $ | — |  |  | $ | 5 |  |  | $ | 9 |  |  | $ | (1) |  |  | $ | 13 |
Net fair value by NEE balance sheet line item: |  |  |  |  |  |  |  |  |
Current derivative assets(b) |  |  |  |  |  |  |  |  | $ | 762 |
Noncurrent derivative assets(c) |  |  |  |  |  |  |  |  | 1,624 |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 2,386 |
Current derivative liabilities(d) |  |  |  |  |  |  |  |  | $ | 344 |
Current other liabilities(e) |  |  |  |  |  |  |  |  | 133 |
Noncurrent derivative liabilities |  |  |  |  |  |  |  |  | 863 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 1,340 |
Net fair value by FPL balance sheet line item: |  |  |  |  |  |  |  |  |
Current other assets |  |  |  |  |  |  |  |  | $ | 3 |
Current other liabilities |  |  |  |  |  |  |  |  | $ | 12 |
Noncurrent other liabilities |  |  |  |  |  |  |  |  | 1 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 13 |
______________________ (a)Includes the effect of the contractual ability to settle contracts under master netting arrangements and the netting of margin cash collateral payments and receipts. NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the consolidated balance sheets and are recorded in customer receivables - net and accounts payable, respectively. (b)Reflects the netting of approximately $2 million in margin cash collateral received from counterparties. (c)Reflects the netting of approximately $139 million in margin cash collateral received from counterparties. (d)Reflects the netting of approximately $66 million in margin cash collateral paid to counterparties. (e)See Note 1 - Disposal of Businesses/Assets. NEE's and FPL's financial assets and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:
| December 31, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (millions)
Assets: |  |  |  |  |  |  |
Cash equivalents and restricted cash equivalents:(a) |  |  |  |  |  |  |
NEE - equity securities | $ | 742 |  |  | $ | — |  |  | $ | — |  |  | $ | 742 |
FPL - equity securities | $ | 78 |  |  | $ | — |  |  | $ | — |  |  | $ | 78 |
Special use funds:(b) |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |
Equity securities | $ | 2,237 |  |  | $ | 2,489 |  | (c) | $ | — |  |  | $ | 4,726 |
U.S. Government and municipal bonds | $ | 590 |  |  | $ | 127 |  |  | $ | — |  |  | $ | 717 |
Corporate debt securities | $ | 1 |  |  | $ | 870 |  |  | $ | — |  |  | $ | 871 |
Mortgage-backed securities | $ | — |  |  | $ | 422 |  |  | $ | — |  |  | $ | 422 |
Other debt securities | $ | — |  |  | $ | 124 |  |  | $ | — |  |  | $ | 124 |
FPL: |  |  |  |  |  |  |
Equity securities | $ | 752 |  |  | $ | 2,260 |  | (c) | $ | — |  |  | $ | 3,012 |
U.S. Government and municipal bonds | $ | 449 |  |  | $ | 87 |  |  | $ | — |  |  | $ | 536 |
Corporate debt securities | $ | — |  |  | $ | 627 |  |  | $ | — |  |  | $ | 627 |
Mortgage-backed securities | $ | — |  |  | $ | 335 |  |  | $ | — |  |  | $ | 335 |
Other debt securities | $ | — |  |  | $ | 119 |  |  | $ | — |  |  | $ | 119 |
Other investments:(d) |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |
Equity securities | $ | 62 |  |  | $ | — |  |  | $ | — |  |  | $ | 62 |
Debt securities | $ | 91 |  |  | $ | 127 |  |  | $ | — |  |  | $ | 218 |
______________________ (a)Includes restricted cash equivalents of approximately $111 million ($56 million for FPL) in current other assets and $42 million ($17 million for FPL) in noncurrent other assets on the consolidated balance sheets. (b)Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at Other than Fair Value below. (c)Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL. (d)Included in noncurrent other assets on NEE's consolidated balance sheet.
| December 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (millions)
Assets: |  |  |  |  |  |  |
Cash equivalents and restricted cash equivalents:(a) |  |  |  |  |  |  |
NEE - equity securities | $ | 363 |  |  | $ | — |  |  | $ | — |  |  | $ | 363 |
FPL - equity securities | $ | 156 |  |  | $ | — |  |  | $ | — |  |  | $ | 156 |
Special use funds:(b) |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |
Equity securities | $ | 1,875 |  |  | $ | 2,088 |  | (c) | $ | — |  |  | $ | 3,963 |
U.S. Government and municipal bonds | $ | 567 |  |  | $ | 150 |  |  | $ | — |  |  | $ | 717 |
Corporate debt securities | $ | — |  |  | $ | 748 |  |  | $ | — |  |  | $ | 748 |
Mortgage-backed securities | $ | — |  |  | $ | 517 |  |  | $ | — |  |  | $ | 517 |
Other debt securities | $ | — |  |  | $ | 117 |  |  | $ | — |  |  | $ | 117 |
FPL: |  |  |  |  |  |  |
Equity securities | $ | 596 |  |  | $ | 1,895 |  | (c) | $ | — |  |  | $ | 2,491 |
U.S. Government and municipal bonds | $ | 429 |  |  | $ | 106 |  |  | $ | — |  |  | $ | 535 |
Corporate debt securities | $ | — |  |  | $ | 533 |  |  | $ | — |  |  | $ | 533 |
Mortgage-backed securities | $ | — |  |  | $ | 395 |  |  | $ | — |  |  | $ | 395 |
Other debt securities | $ | — |  |  | $ | 111 |  |  | $ | — |  |  | $ | 111 |
Other investments:(d) |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |
Equity securities | $ | 34 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 46 |
Debt securities | $ | 82 |  |  | $ | 69 |  |  | $ | — |  |  | $ | 151 |
______________________ (a)Includes restricted cash equivalents of approximately $60 million ($54 million for FPL) in current other assets and $64 million ($64 million for FPL) in noncurrent other assets on the consolidated balance sheets. (b)Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at Other than Fair Value below. (c)Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL. (d)Included in noncurrent other assets on NEE's consolidated balance sheet.
Fair Value, by Balance Sheet Grouping | The carrying amounts of commercial paper and other short-term debt approximate their fair values. The carrying amounts and estimated fair values of other financial instruments recorded at other than fair value are as follows:
| December 31, 2020 |  | December 31, 2019
| Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
| (millions) |
NEE: |  |
Special use funds(a) | $ | 919 |  |  | $ | 920 |  |  | $ | 892 |  |  | $ | 891 |  |
Other investments(b) | $ | 29 |  |  | $ | 29 |  |  | $ | 30 |  |  | $ | 30 |  |
Long-term debt, including current portion | $ | 46,082 |  |  | $ | 51,525 |  | (c) | $ | 39,667 |  | (d) | $ | 42,928 |  | (c)(d)
FPL: |  |  |  |  |  |  |  |
Special use funds(a) | $ | 718 |  |  | $ | 719 |  |  | $ | 706 |  |  | $ | 705 |  |
Long-term debt, including current portion | $ | 15,676 |  |  | $ | 19,470 |  | (c) | $ | 14,161 |  |  | $ | 16,448 |  | (c)
______________________ (a)Primarily represents investments accounted for under the equity method and loans not measured at fair value on a recurring basis (Level 2). (b)Included in noncurrent other assets on NEE's consolidated balance sheets. (c)At December 31, 2020 and 2019, substantially all is Level 2 for NEE and all is Level 2 for FPL. (d)Excludes debt totaling approximately $463 million classified as held for sale, which is included in current other liabilities on NEE's consolidated balance sheet at December 31, 2019, for which the carrying amount approximates fair value. See Note 1 - Disposal of Businesses/Assets.
Unrealized Gains (Losses) Recognized On Equity Securities | Unrealized gains (losses) recognized on equity securities held at December 31, 2020 and 2019 are as follows:
| NEE |  | FPL
| Years Ended December 31, |  | Years Ended December 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
|  |  | (millions) |  |
Unrealized gains (losses) | $ | 627 |  |  | $ | 780 |  |  | $ | 444 |  |  | $ | 510 |
Available-for-sale Securities | Realized gains and losses and proceeds from the sale or maturity of available for sale debt securities are as follows:
| NEE |  | FPL
| Years Ended December 31, |  | Years Ended December 31,
| 2020 |  | 2019 |  | 2018 |  | 2020 |  | 2019 |  | 2018
| (millions)
Realized gains | $ | 110 |  |  | $ | 68 |  |  | $ | 51 |  |  | $ | 83 |  |  | $ | 44 |  |  | $ | 31 |
Realized losses | $ | 70 |  |  | $ | 48 |  |  | $ | 75 |  |  | $ | 56 |  |  | $ | 29 |  |  | $ | 49 |
Proceeds from sale or maturity of securities | $ | 2,541 |  |  | $ | 3,005 |  |  | $ | 2,551 |  |  | $ | 2,162 |  |  | $ | 2,539 |  |  | $ | 2,100 |
The unrealized gains and unrealized losses on available for sale debt securities and the fair value of available for sale debt securities in an unrealized loss position are as follows:
| NEE |  | FPL
| December 31, |  | December 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
|  |  | (millions) |  |
Unrealized gains | $ | 134 |  |  | $ | 75 |  |  | $ | 104 |  |  | $ | 58 |
Unrealized losses(a) | $ | 9 |  |  | $ | 7 |  |  | $ | 9 |  |  | $ | 7 |
Fair value | $ | 201 |  |  | $ | 314 |  |  | $ | 150 |  |  | $ | 240 |
______________________ (a)Unrealized losses on available for sale debt securities in an unrealized loss position for greater than twelve months at December 31, 2020 and 2019 were not material to NEE or FPL.

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References No definition available. + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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