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NextEra Energy, Inc. Media Line: 561-694-4442 July 22, 2022 FOR IMMEDIATE RELEASE | |||||
As previously announced, NextEra Energy's second-quarter 2022 financial results conference call is scheduled for 9 a.m. ET today. Also discussed during the call will be the second-quarter 2022 financial results for NextEra Energy Partners, LP (NYSE: NEP). The listen-only webcast will be available on NextEra Energy's website by accessing the following link: www.NextEraEnergy.com/FinancialResults. The news release and slides accompanying the presentation may be downloaded at www.NextEraEnergy.com/FinancialResults, beginning at 7:30 a.m. ET today. A replay will be available for 90 days by accessing the same link as listed above. | ||||||||||||||
| Preliminary | ||||||||||||||||||||||||||
| Three Months Ended June 30, 2022 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
| Operating Revenues | $ | 4,425 | $ | 775 | $ | (17) | $ | 5,183 | ||||||||||||||||||
| Operating Expenses | ||||||||||||||||||||||||||
| Fuel, purchased power and interchange | 1,431 | 191 | (33) | 1,589 | ||||||||||||||||||||||
| Other operations and maintenance | 441 | 516 | 20 | 977 | ||||||||||||||||||||||
| Depreciation and amortization | 715 | 421 | 23 | 1,159 | ||||||||||||||||||||||
| Taxes other than income taxes and other – net | 436 | 75 | — | 511 | ||||||||||||||||||||||
| Total operating expenses – net | 3,023 | 1,203 | 10 | 4,236 | ||||||||||||||||||||||
| Gains (losses) on disposal of businesses/assets – net | — | 10 | (9) | 1 | ||||||||||||||||||||||
| Operating Income (Loss) | 1,402 | (418) | (36) | 948 | ||||||||||||||||||||||
| Other Income (Deductions) | ||||||||||||||||||||||||||
| Interest expense | (181) | 31 | 367 | 217 | ||||||||||||||||||||||
| Equity in earnings (losses) of equity method investees | — | 436 | — | 436 | ||||||||||||||||||||||
| Allowance for equity funds used during construction | 28 | 2 | — | 30 | ||||||||||||||||||||||
| Gains on disposal of investments and other property – net | — | 15 | — | 15 | ||||||||||||||||||||||
| Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net | — | (292) | — | (292) | ||||||||||||||||||||||
| Other net periodic benefit income | — | — | 19 | 19 | ||||||||||||||||||||||
| Other – net | — | 37 | (3) | 34 | ||||||||||||||||||||||
| Total other income (deductions) – net | (153) | 229 | 383 | 459 | ||||||||||||||||||||||
| Income (Loss) before Income Taxes | 1,249 | (189) | 347 | 1,407 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | 260 | (55) | 89 | 294 | ||||||||||||||||||||||
| Net Income (Loss) | 989 | (134) | 258 | 1,113 | ||||||||||||||||||||||
| Net Loss Attributable to Noncontrolling Interests | — | 267 | — | 267 | ||||||||||||||||||||||
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 989 | $ | 133 | $ | 258 | $ | 1,380 | ||||||||||||||||||
| Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss): | ||||||||||||||||||||||||||
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 989 | $ | 133 | $ | 258 | $ | 1,380 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | — | 349 | (451) | (102) | ||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | 290 | — | 290 | ||||||||||||||||||||||
| Differential membership interests – related | — | 28 | — | 28 | ||||||||||||||||||||||
| NEP investment gains – net | — | 43 | — | 43 | ||||||||||||||||||||||
| Impairment charge related to investment in Mountain Valley Pipeline | — | 27 | — | 27 | ||||||||||||||||||||||
| Less related income tax expense (benefit) | — | (187) | 114 | (73) | ||||||||||||||||||||||
| Adjusted Earnings (Loss) | $ | 989 | $ | 683 | $ | (79) | $ | 1,593 | ||||||||||||||||||
| Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution) | $ | 0.50 | $ | 0.07 | $ | 0.13 | $ | 0.70 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | — | 0.18 | (0.23) | (0.05) | ||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | 0.15 | — | 0.15 | ||||||||||||||||||||||
| Differential membership interests – related | — | 0.01 | — | 0.01 | ||||||||||||||||||||||
| NEP investment gains – net | — | 0.02 | — | 0.02 | ||||||||||||||||||||||
| Impairment charge related to investment in Mountain Valley Pipeline | — | 0.01 | — | 0.01 | ||||||||||||||||||||||
| Less related income tax expense (benefit) | — | (0.09) | 0.06 | (0.03) | ||||||||||||||||||||||
| Adjusted Earnings (Loss) Per Share | $ | 0.50 | $ | 0.35 | $ | (0.04) | $ | 0.81 | ||||||||||||||||||
| Weighted-average shares outstanding (assuming dilution) | 1,973 | |||||||||||||||||||||||||
| ———————————— | |||||||||||||||||||||||||||||||||||||||||
| (a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||||||||||||||||||||||
| (b) | After tax impact by segment is as follows: | NEER | Corporate and Other | NextEra Energy | |||||||||||||||||||||||||||||||||||||
| Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | ||||||||||||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | $ | 270 | $ | 0.13 | $ | (337) | $ | (0.17) | $ | (67) | $ | (0.04) | |||||||||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | $ | 207 | $ | 0.11 | $ | — | $ | — | $ | 207 | $ | 0.11 | |||||||||||||||||||||||||||||
| Differential membership interests – related | $ | 21 | $ | 0.01 | $ | — | $ | — | $ | 21 | $ | 0.01 | |||||||||||||||||||||||||||||
| NEP investment gains – net | $ | 32 | $ | 0.02 | $ | — | $ | — | $ | 32 | $ | 0.02 | |||||||||||||||||||||||||||||
| Impairment charge related to investment in Mountain Valley Pipeline | $ | 20 | $ | 0.01 | $ | — | $ | — | $ | 20 | $ | 0.01 | |||||||||||||||||||||||||||||
| Preliminary | ||||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | FPL(a) | NEER | Corporate and Other(a)(b) | NextEra Energy | ||||||||||||||||||||||
| Operating Revenues | $ | 3,569 | $ | 380 | $ | (22) | $ | 3,927 | ||||||||||||||||||
| Operating Expenses | ||||||||||||||||||||||||||
| Fuel, purchased power and interchange | 963 | 171 | (31) | 1,103 | ||||||||||||||||||||||
| Other operations and maintenance | 410 | 399 | 57 | 866 | ||||||||||||||||||||||
| Depreciation and amortization | 571 | 390 | 20 | 981 | ||||||||||||||||||||||
| Taxes other than income taxes and other – net | 395 | 63 | 2 | 460 | ||||||||||||||||||||||
| Total operating expenses – net | 2,339 | 1,023 | 48 | 3,410 | ||||||||||||||||||||||
| Gains (losses) on disposal of businesses/assets – net | — | (5) | (2) | (7) | ||||||||||||||||||||||
| Operating Income (Loss) | 1,230 | (648) | (72) | 510 | ||||||||||||||||||||||
| Other Income (Deductions) | ||||||||||||||||||||||||||
| Interest expense | (154) | (191) | (412) | (757) | ||||||||||||||||||||||
| Equity in earnings (losses) of equity method investees | — | (84) | — | (84) | ||||||||||||||||||||||
| Allowance for equity funds used during construction | 31 | 2 | 1 | 34 | ||||||||||||||||||||||
| Gains on disposal of investments and other property – net | — | 22 | — | 22 | ||||||||||||||||||||||
| Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net | — | 105 | — | 105 | ||||||||||||||||||||||
| Other net periodic benefit income | — | — | 64 | 64 | ||||||||||||||||||||||
| Other – net | 3 | 31 | 4 | 38 | ||||||||||||||||||||||
| Total other income (deductions) – net | (120) | (115) | (343) | (578) | ||||||||||||||||||||||
| Income (Loss) before Income Taxes | 1,110 | (763) | (415) | (68) | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | 228 | (264) | (104) | (140) | ||||||||||||||||||||||
| Net Income (Loss) | 882 | (499) | (311) | 72 | ||||||||||||||||||||||
| Net Loss Attributable to Noncontrolling Interests | — | 184 | — | 184 | ||||||||||||||||||||||
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 882 | $ | (315) | $ | (311) | $ | 256 | ||||||||||||||||||
| Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss): | ||||||||||||||||||||||||||
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 882 | $ | (315) | $ | (311) | $ | 256 | ||||||||||||||||||
Adjustments – pretax:(c) | ||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | — | 1,198 | 333 | 1,531 | ||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net | — | (107) | — | (107) | ||||||||||||||||||||||
| Differential membership interests – related | — | 30 | — | 30 | ||||||||||||||||||||||
| NEP investment gains – net | — | 39 | — | 39 | ||||||||||||||||||||||
| Less related income tax expense (benefit) | — | (271) | (83) | (354) | ||||||||||||||||||||||
| Adjusted Earnings (Loss) | $ | 882 | $ | 574 | $ | (61) | $ | 1,395 | ||||||||||||||||||
| Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution) | $ | 0.45 | $ | (0.16) | $ | (0.16) | $ | 0.13 | ||||||||||||||||||
Adjustments – pretax:(c) | ||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | — | 0.61 | 0.17 | 0.78 | ||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net | — | (0.05) | — | (0.05) | ||||||||||||||||||||||
| Differential membership interests – related | — | 0.02 | — | 0.02 | ||||||||||||||||||||||
| NEP investment gains – net | — | 0.02 | — | 0.02 | ||||||||||||||||||||||
| Less related income tax expense (benefit) | — | (0.15) | (0.04) | (0.19) | ||||||||||||||||||||||
| Adjusted Earnings (Loss) Per Share | $ | 0.45 | $ | 0.29 | $ | (0.03) | $ | 0.71 | ||||||||||||||||||
| Weighted-average shares outstanding (assuming dilution) | 1,970 | |||||||||||||||||||||||||
| ———————————— | |||||||||||||||||||||||||||||||||||||||||
| (a) | Florida Power & Light completed the regulatory integration of Gulf Power under its 2021 base rate settlement agreement and began serving customers under unified rates on January 1, 2022. As a result, Gulf Power is no longer a separate reporting segment. Amounts have been retrospectively adjusted to reflect the segment change. | ||||||||||||||||||||||||||||||||||||||||
| (b) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||||||||||||||||||||||
| (c) | After tax impact by segment is as follows: | NEER | Corporate and Other | NextEra Energy | |||||||||||||||||||||||||||||||||||||
| Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | ||||||||||||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | $ | 908 | $ | 0.46 | $ | 250 | $ | 0.13 | $ | 1,158 | $ | 0.59 | |||||||||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net | $ | (76) | $ | (0.04) | $ | — | $ | — | $ | (76) | $ | (0.04) | |||||||||||||||||||||||||||||
| Differential membership interests – related | $ | 23 | $ | 0.01 | $ | — | $ | — | $ | 23 | $ | 0.01 | |||||||||||||||||||||||||||||
| NEP investment gains – net | $ | 34 | $ | 0.02 | $ | — | $ | — | $ | 34 | $ | 0.02 | |||||||||||||||||||||||||||||
| Preliminary | ||||||||||||||||||||||||||
| Six Months Ended June 30, 2022 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
| Operating Revenues | $ | 8,137 | $ | (24) | $ | (40) | $ | 8,073 | ||||||||||||||||||
| Operating Expenses | ||||||||||||||||||||||||||
| Fuel, purchased power and interchange | 2,631 | 390 | (66) | 2,955 | ||||||||||||||||||||||
| Other operations and maintenance | 838 | 1,017 | 81 | 1,936 | ||||||||||||||||||||||
| Depreciation and amortization | 1,177 | 820 | 46 | 2,043 | ||||||||||||||||||||||
| Taxes other than income taxes and other – net | 846 | 145 | — | 991 | ||||||||||||||||||||||
| Total operating expenses – net | 5,492 | 2,372 | 61 | 7,925 | ||||||||||||||||||||||
| Gains (losses) on disposal of businesses/assets – net | — | 35 | (10) | 25 | ||||||||||||||||||||||
| Operating Income (Loss) | 2,645 | (2,361) | (111) | 173 | ||||||||||||||||||||||
| Other Income (Deductions) | ||||||||||||||||||||||||||
| Interest expense | (354) | 119 | 594 | 359 | ||||||||||||||||||||||
| Equity in earnings (losses) of equity method investees | — | (17) | 1 | (16) | ||||||||||||||||||||||
| Allowance for equity funds used during construction | 62 | 5 | — | 67 | ||||||||||||||||||||||
| Gains on disposal of investments and other property – net | — | 33 | — | 33 | ||||||||||||||||||||||
| Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net | — | (428) | — | (428) | ||||||||||||||||||||||
| Other net periodic benefit income | — | — | 89 | 89 | ||||||||||||||||||||||
| Other – net | — | 86 | (8) | 78 | ||||||||||||||||||||||
| Total other income (deductions) – net | (292) | (202) | 676 | 182 | ||||||||||||||||||||||
| Income (Loss) before Income Taxes | 2,353 | (2,563) | 565 | 355 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | 489 | (688) | 134 | (65) | ||||||||||||||||||||||
| Net Income (Loss) | 1,864 | (1,875) | 431 | 420 | ||||||||||||||||||||||
| Net Loss Attributable to Noncontrolling Interests | — | 509 | — | 509 | ||||||||||||||||||||||
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 1,864 | $ | (1,366) | $ | 431 | $ | 929 | ||||||||||||||||||
| Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss): | ||||||||||||||||||||||||||
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 1,864 | $ | (1,366) | $ | 431 | $ | 929 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | — | 2,117 | (745) | 1,372 | ||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | 425 | — | 425 | ||||||||||||||||||||||
| Differential membership interests-related | — | 56 | — | 56 | ||||||||||||||||||||||
| NEP investment gains – net | — | 112 | — | 112 | ||||||||||||||||||||||
| Impairment charge related to investment in Mountain Valley Pipeline | — | 807 | — | 807 | ||||||||||||||||||||||
| Less related income tax expense (benefit) | — | (840) | 187 | (653) | ||||||||||||||||||||||
| Adjusted Earnings (Loss) | $ | 1,864 | $ | 1,311 | $ | (127) | $ | 3,048 | ||||||||||||||||||
| Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution) | $ | 0.94 | $ | (0.69) | $ | 0.22 | $ | 0.47 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | — | 1.07 | (0.37) | 0.70 | ||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | 0.22 | — | 0.22 | ||||||||||||||||||||||
| Differential membership interests-related | — | 0.03 | — | 0.03 | ||||||||||||||||||||||
| NEP investment gains – net | — | 0.06 | — | 0.06 | ||||||||||||||||||||||
| Impairment charge related to investment in Mountain Valley Pipeline | — | 0.41 | — | 0.41 | ||||||||||||||||||||||
| Less related income tax expense (benefit) | — | (0.44) | 0.09 | (0.35) | ||||||||||||||||||||||
| Adjusted Earnings (Loss) Per Share | $ | 0.94 | $ | 0.66 | $ | (0.06) | $ | 1.54 | ||||||||||||||||||
| Weighted-average shares outstanding (assuming dilution) | 1,973 | |||||||||||||||||||||||||
| ———————————— | |||||||||||||||||||||||||||||||||||||||||
| (a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||||||||||||||||||||||
| (b) | After tax impact by segment is as follows: | NEER | Corporate and Other | NextEra Energy | |||||||||||||||||||||||||||||||||||||
| Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | ||||||||||||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | $ | 1,621 | $ | 0.82 | $ | (558) | $ | (0.28) | $ | 1,063 | $ | 0.54 | |||||||||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | $ | 304 | $ | 0.15 | $ | — | $ | — | $ | 304 | $ | 0.15 | |||||||||||||||||||||||||||||
| Differential membership interests-related | $ | 42 | $ | 0.02 | $ | — | $ | — | $ | 42 | $ | 0.02 | |||||||||||||||||||||||||||||
| NEP investment gains – net | $ | 83 | $ | 0.04 | $ | — | $ | — | $ | 83 | $ | 0.04 | |||||||||||||||||||||||||||||
| Impairment charge related to investment in Mountain Valley Pipeline | $ | 627 | $ | 0.32 | $ | — | $ | — | $ | 627 | $ | 0.32 | |||||||||||||||||||||||||||||
| Preliminary | ||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | FPL(a) | NEER | Corporate and Other(a)(b) | NextEra Energy | ||||||||||||||||||||||
| Operating Revenues | $ | 6,539 | $ | 1,162 | $ | (48) | $ | 7,653 | ||||||||||||||||||
| Operating Expenses | ||||||||||||||||||||||||||
| Fuel, purchased power and interchange | 1,735 | 335 | (61) | 2,009 | ||||||||||||||||||||||
| Other operations and maintenance | 795 | 951 | 108 | 1,854 | ||||||||||||||||||||||
| Depreciation and amortization | 910 | 780 | 40 | 1,730 | ||||||||||||||||||||||
| Taxes other than income taxes and other – net | 755 | 130 | 3 | 888 | ||||||||||||||||||||||
| Total operating expenses – net | 4,195 | 2,196 | 90 | 6,481 | ||||||||||||||||||||||
| Gains (losses) on disposal of businesses/assets – net | — | 13 | (6) | 7 | ||||||||||||||||||||||
| Operating Income (Loss) | 2,344 | (1,021) | (144) | 1,179 | ||||||||||||||||||||||
| Other Income (Deductions) | ||||||||||||||||||||||||||
| Interest expense | (309) | (132) | 105 | (336) | ||||||||||||||||||||||
| Equity in earnings (losses) of equity method investees | — | 356 | — | 356 | ||||||||||||||||||||||
| Allowance for equity funds used during construction | 58 | 5 | — | 63 | ||||||||||||||||||||||
| Gains on disposal of investments and other property – net | — | 52 | — | 52 | ||||||||||||||||||||||
| Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net | — | 162 | — | 162 | ||||||||||||||||||||||
| Other net periodic benefit income | — | — | 128 | 128 | ||||||||||||||||||||||
| Other – net | 4 | 69 | 4 | 77 | ||||||||||||||||||||||
| Total other income (deductions) – net | (247) | 512 | 237 | 502 | ||||||||||||||||||||||
| Income (Loss) before Income Taxes | 2,097 | (509) | 93 | 1,681 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | 437 | (333) | 7 | 111 | ||||||||||||||||||||||
| Net Income (Loss) | 1,660 | (176) | 86 | 1,570 | ||||||||||||||||||||||
| Net Loss Attributable to Noncontrolling Interests | — | 352 | — | 352 | ||||||||||||||||||||||
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 1,660 | $ | 176 | $ | 86 | $ | 1,922 | ||||||||||||||||||
| Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss): | ||||||||||||||||||||||||||
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 1,660 | $ | 176 | $ | 86 | $ | 1,922 | ||||||||||||||||||
Adjustments – pretax:(c) | ||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | — | 1,292 | (262) | 1,030 | ||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | (166) | — | (166) | ||||||||||||||||||||||
| Differential membership interests-related | — | 61 | — | 61 | ||||||||||||||||||||||
| NEP investment gains – net | — | 107 | — | 107 | ||||||||||||||||||||||
| Less related income tax expense (benefit) | — | (298) | 68 | (230) | ||||||||||||||||||||||
| Adjusted Earnings (Loss) | $ | 1,660 | $ | 1,172 | $ | (108) | $ | 2,724 | ||||||||||||||||||
| Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution) | $ | 0.84 | $ | 0.09 | $ | 0.05 | $ | 0.98 | ||||||||||||||||||
Adjustments – pretax:(c) | ||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | — | 0.66 | (0.14) | 0.52 | ||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | (0.08) | — | (0.08) | ||||||||||||||||||||||
| Differential membership interests-related | — | 0.03 | — | 0.03 | ||||||||||||||||||||||
| NEP investment gains – net | — | 0.05 | — | 0.05 | ||||||||||||||||||||||
| Less related income tax expense (benefit) | — | (0.16) | 0.04 | (0.12) | ||||||||||||||||||||||
| Adjusted Earnings (Loss) Per Share | $ | 0.84 | $ | 0.59 | $ | (0.05) | $ | 1.38 | ||||||||||||||||||
| Weighted-average shares outstanding (assuming dilution) | 1,971 | |||||||||||||||||||||||||
| ———————————— | |||||||||||||||||||||||||||||||||||||||||
| (a) | Florida Power & Light completed the regulatory integration of Gulf Power under its 2021 base rate settlement agreement and began serving customers under unified rates on January 1, 2022. As a result, Gulf Power is no longer a separate reporting segment. Amounts have been retrospectively adjusted to reflect the segment change. | ||||||||||||||||||||||||||||||||||||||||
| (b) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||||||||||||||||||||||
| (c) | After tax impact by segment is as follows: | NEER | Corporate and Other | NextEra Energy | |||||||||||||||||||||||||||||||||||||
| Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | ||||||||||||||||||||||||||||||||||||
| Net losses (gains) associated with non-qualifying hedges | $ | 984 | $ | 0.50 | $ | (194) | $ | (0.10) | $ | 790 | $ | 0.40 | |||||||||||||||||||||||||||||
| Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | $ | (119) | $ | (0.06) | $ | — | $ | — | $ | (119) | $ | (0.06) | |||||||||||||||||||||||||||||
| Differential membership interests-related | $ | 46 | $ | 0.02 | $ | — | $ | — | $ | 46 | $ | 0.02 | |||||||||||||||||||||||||||||
| NEP investment gains – net | $ | 85 | $ | 0.04 | $ | — | $ | — | $ | 85 | $ | 0.04 | |||||||||||||||||||||||||||||
| NextEra Energy, Inc. | ||||||||||||||||||||||||||
| Condensed Consolidated Balance Sheets | ||||||||||||||||||||||||||
| (millions) (unaudited) | Preliminary | |||||||||||||||||||||||||
| June 30, 2022 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||||
| Current assets: | ||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 67 | $ | 879 | $ | 1,915 | $ | 2,861 | ||||||||||||||||||
| Customer receivables, net of allowances | 1,830 | 2,630 | 1 | 4,461 | ||||||||||||||||||||||
| Other receivables | 388 | 422 | (140) | 670 | ||||||||||||||||||||||
| Materials, supplies and fuel inventory | 1,034 | 608 | — | 1,642 | ||||||||||||||||||||||
| Regulatory assets | 1,151 | 13 | 1 | 1,165 | ||||||||||||||||||||||
| Derivatives | 109 | 1,651 | (3) | 1,757 | ||||||||||||||||||||||
| Other | 181 | 1,572 | 23 | 1,776 | ||||||||||||||||||||||
| Total current assets | 4,760 | 7,775 | 1,797 | 14,332 | ||||||||||||||||||||||
| Other assets: | ||||||||||||||||||||||||||
| Property, plant and equipment – net | 60,786 | 44,074 | 533 | 105,393 | ||||||||||||||||||||||
| Special use funds | 5,261 | 2,264 | — | 7,525 | ||||||||||||||||||||||
| Investment in equity method investees | — | 6,055 | 9 | 6,064 | ||||||||||||||||||||||
| Prepaid benefit costs | 1,683 | 3 | 605 | 2,291 | ||||||||||||||||||||||
| Regulatory assets | 4,595 | 213 | 33 | 4,841 | ||||||||||||||||||||||
| Derivatives | 2 | 1,637 | 205 | 1,844 | ||||||||||||||||||||||
| Goodwill | 2,989 | 1,843 | 11 | 4,843 | ||||||||||||||||||||||
| Other | 682 | 4,147 | (192) | 4,637 | ||||||||||||||||||||||
| Total other assets | 75,998 | 60,236 | 1,204 | 137,438 | ||||||||||||||||||||||
| TOTAL ASSETS | $ | 80,758 | $ | 68,011 | $ | 3,001 | $ | 151,770 | ||||||||||||||||||
| LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | ||||||||||||||||||||||||||
| Current liabilities: | ||||||||||||||||||||||||||
| Commercial paper | $ | — | $ | — | $ | 1,011 | $ | 1,011 | ||||||||||||||||||
| Other short-term debt | 200 | 40 | 1,700 | 1,940 | ||||||||||||||||||||||
| Current portion of long-term debt | 1,886 | 621 | 4,743 | 7,250 | ||||||||||||||||||||||
| Accounts payable | 1,498 | 6,097 | (3) | 7,592 | ||||||||||||||||||||||
| Customer deposits | 490 | 7 | — | 497 | ||||||||||||||||||||||
| Accrued interest and taxes | 723 | 145 | 67 | 935 | ||||||||||||||||||||||
| Derivatives | 13 | 3,261 | 106 | 3,380 | ||||||||||||||||||||||
| Accrued construction-related expenditures | 501 | 1,173 | — | 1,674 | ||||||||||||||||||||||
| Regulatory liabilities | 456 | 9 | 2 | 467 | ||||||||||||||||||||||
| Other | 548 | 1,095 | 432 | 2,075 | ||||||||||||||||||||||
| Total current liabilities | 6,315 | 12,448 | 8,058 | 26,821 | ||||||||||||||||||||||
| Other liabilities and deferred credits: | ||||||||||||||||||||||||||
| Long-term debt | 19,449 | 6,622 | 27,311 | 53,382 | ||||||||||||||||||||||
| Asset retirement obligations | 2,089 | 1,070 | — | 3,159 | ||||||||||||||||||||||
| Deferred income taxes | 7,550 | 2,445 | (1,799) | 8,196 | ||||||||||||||||||||||
| Regulatory liabilities | 9,961 | 146 | 80 | 10,187 | ||||||||||||||||||||||
| Derivatives | — | 2,875 | 49 | 2,924 | ||||||||||||||||||||||
| Other | 436 | 1,960 | 98 | 2,494 | ||||||||||||||||||||||
| Total other liabilities and deferred credits | 39,485 | 15,118 | 25,739 | 80,342 | ||||||||||||||||||||||
| TOTAL LIABILITIES | 45,800 | 27,566 | 33,797 | 107,163 | ||||||||||||||||||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||||||||||||||||||||
| REDEEMABLE NONCONTROLLING INTERESTS | — | 53 | — | 53 | ||||||||||||||||||||||
| EQUITY | ||||||||||||||||||||||||||
| Common stock | 1,373 | — | (1,353) | 20 | ||||||||||||||||||||||
| Additional paid-in capital | 21,436 | 13,454 | (23,581) | 11,309 | ||||||||||||||||||||||
| Retained earnings | 12,149 | 18,906 | (5,886) | 25,169 | ||||||||||||||||||||||
| Accumulated other comprehensive income (loss) | — | (83) | 24 | (59) | ||||||||||||||||||||||
| Total common shareholders' equity | 34,958 | 32,277 | (30,796) | 36,439 | ||||||||||||||||||||||
| Noncontrolling interests | — | 8,115 | — | 8,115 | ||||||||||||||||||||||
| TOTAL EQUITY | 34,958 | 40,392 | (30,796) | 44,554 | ||||||||||||||||||||||
| TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 80,758 | $ | 68,011 | $ | 3,001 | $ | 151,770 | ||||||||||||||||||
| ———————————— | |||||
| (a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||
| NextEra Energy, Inc. | ||||||||||||||||||||||||||
| Condensed Consolidated Balance Sheets | Preliminary | |||||||||||||||||||||||||
| (millions) | ||||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||||
| December 31, 2021 | FPL(a) | NEER | Corporate and Other(a)(b) | NextEra Energy | ||||||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||||
| Current assets: | ||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 55 | $ | 562 | $ | 22 | $ | 639 | ||||||||||||||||||
| Customer receivables, net of allowances | 1,297 | 2,081 | — | 3,378 | ||||||||||||||||||||||
| Other receivables | 350 | 496 | (116) | 730 | ||||||||||||||||||||||
| Materials, supplies and fuel inventory | 963 | 598 | — | 1,561 | ||||||||||||||||||||||
| Regulatory assets | 1,111 | 14 | — | 1,125 | ||||||||||||||||||||||
| Derivatives | 13 | 677 | (1) | 689 | ||||||||||||||||||||||
| Other | 129 | 1,035 | 2 | 1,166 | ||||||||||||||||||||||
| Total current assets | 3,918 | 5,463 | (93) | 9,288 | ||||||||||||||||||||||
| Other assets: | ||||||||||||||||||||||||||
| Property, plant and equipment – net | 58,227 | 40,900 | 221 | 99,348 | ||||||||||||||||||||||
| Special use funds | 6,158 | 2,764 | — | 8,922 | ||||||||||||||||||||||
| Investment in equity method investees | — | 6,150 | 9 | 6,159 | ||||||||||||||||||||||
| Prepaid benefit costs | 1,657 | 3 | 583 | 2,243 | ||||||||||||||||||||||
| Regulatory assets | 4,343 | 202 | 33 | 4,578 | ||||||||||||||||||||||
| Derivatives | — | 1,095 | 40 | 1,135 | ||||||||||||||||||||||
| Goodwill | 2,989 | 1,843 | 12 | 4,844 | ||||||||||||||||||||||
| Other | 775 | 3,693 | (73) | 4,395 | ||||||||||||||||||||||
| Total other assets | 74,149 | 56,650 | 825 | 131,624 | ||||||||||||||||||||||
| TOTAL ASSETS | $ | 78,067 | $ | 62,113 | $ | 732 | $ | 140,912 | ||||||||||||||||||
| LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | ||||||||||||||||||||||||||
| Current liabilities: | ||||||||||||||||||||||||||
| Commercial paper | $ | 1,382 | $ | — | $ | — | $ | 1,382 | ||||||||||||||||||
| Other short-term debt | 200 | — | 500 | 700 | ||||||||||||||||||||||
| Current portion of long-term debt | 536 | 664 | 585 | 1,785 | ||||||||||||||||||||||
| Accounts payable | 1,318 | 5,670 | (53) | 6,935 | ||||||||||||||||||||||
| Customer deposits | 478 | 6 | 1 | 485 | ||||||||||||||||||||||
| Accrued interest and taxes | 322 | 168 | 35 | 525 | ||||||||||||||||||||||
| Derivatives | 9 | 1,214 | 40 | 1,263 | ||||||||||||||||||||||
| Accrued construction-related expenditures | 601 | 777 | — | 1,378 | ||||||||||||||||||||||
| Regulatory liabilities | 278 | 9 | 2 | 289 | ||||||||||||||||||||||
| Other | 634 | 1,651 | 410 | 2,695 | ||||||||||||||||||||||
| Total current liabilities | 5,758 | 10,159 | 1,520 | 17,437 | ||||||||||||||||||||||
| Other liabilities and deferred credits: | ||||||||||||||||||||||||||
| Long-term debt | 17,974 | 6,755 | 26,231 | 50,960 | ||||||||||||||||||||||
| Asset retirement obligations | 2,049 | 1,033 | — | 3,082 | ||||||||||||||||||||||
| Deferred income taxes | 7,137 | 2,838 | (1,665) | 8,310 | ||||||||||||||||||||||
| Regulatory liabilities | 11,053 | 141 | 79 | 11,273 | ||||||||||||||||||||||
| Derivatives | 1 | 1,129 | 583 | 1,713 | ||||||||||||||||||||||
| Other | 501 | 1,790 | 177 | 2,468 | ||||||||||||||||||||||
| Total other liabilities and deferred credits | 38,715 | 13,686 | 25,405 | 77,806 | ||||||||||||||||||||||
| TOTAL LIABILITIES | 44,473 | 23,845 | 26,925 | 95,243 | ||||||||||||||||||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||||||||||||||||||||
| REDEEMABLE NONCONTROLLING INTERESTS | — | 245 | — | 245 | ||||||||||||||||||||||
| EQUITY | ||||||||||||||||||||||||||
| Common stock | 1,373 | — | (1,353) | 20 | ||||||||||||||||||||||
| Additional paid-in capital | 19,936 | 9,560 | (18,225) | 11,271 | ||||||||||||||||||||||
| Retained earnings | 12,285 | 20,272 | (6,646) | 25,911 | ||||||||||||||||||||||
| Accumulated other comprehensive income (loss) | — | (31) | 31 | — | ||||||||||||||||||||||
| Total common shareholders' equity | 33,594 | 29,801 | (26,193) | 37,202 | ||||||||||||||||||||||
| Noncontrolling interests | — | 8,222 | — | 8,222 | ||||||||||||||||||||||
| TOTAL EQUITY | 33,594 | 38,023 | (26,193) | 45,424 | ||||||||||||||||||||||
| TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 78,067 | $ | 62,113 | $ | 732 | $ | 140,912 | ||||||||||||||||||
| ———————————— | |||||
| (a) | Florida Power & Light completed the regulatory integration of Gulf Power under its 2021 base rate settlement agreement and began serving customers under unified rates on January 1, 2022. As a result, Gulf Power is no longer a separate reporting segment. Amounts have been retrospectively adjusted to reflect the segment change. | ||||
| (b) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||
| Preliminary | ||||||||||||||||||||||||||
| Six Months Ended June 30, 2022 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
| Cash Flows From Operating Activities | ||||||||||||||||||||||||||
| Net income (loss) | $ | 1,864 | $ | (1,875) | $ | 431 | $ | 420 | ||||||||||||||||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||||||||||||||||
| Depreciation and amortization | 1,177 | 820 | 46 | 2,043 | ||||||||||||||||||||||
| Nuclear fuel and other amortization | 91 | 35 | 18 | 144 | ||||||||||||||||||||||
| Unrealized losses (gains) on marked to market derivative contracts – net | — | 2,524 | (627) | 1,897 | ||||||||||||||||||||||
| Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds - net | — | 428 | — | 428 | ||||||||||||||||||||||
| Foreign currency transaction gains | — | (1) | (103) | (104) | ||||||||||||||||||||||
| Deferred income taxes | 406 | (494) | (9) | (97) | ||||||||||||||||||||||
| Cost recovery clauses and franchise fees | (476) | — | — | (476) | ||||||||||||||||||||||
| Equity in losses (earnings) of equity method investees | — | 17 | (1) | 16 | ||||||||||||||||||||||
| Distributions of earnings from equity method investees | — | 271 | — | 271 | ||||||||||||||||||||||
| Losses (gains) on disposal of businesses, assets and investments – net | — | (67) | 9 | (58) | ||||||||||||||||||||||
| Recoverable storm-related costs | (3) | — | — | (3) | ||||||||||||||||||||||
| Other – net | (3) | (118) | 33 | (88) | ||||||||||||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||||||||||||||
| Current assets | (534) | (636) | (28) | (1,198) | ||||||||||||||||||||||
| Noncurrent assets | (2) | 12 | (19) | (9) | ||||||||||||||||||||||
| Current liabilities | 638 | 760 | 159 | 1,557 | ||||||||||||||||||||||
| Noncurrent liabilities | 44 | 6 | — | 50 | ||||||||||||||||||||||
| Net cash provided by (used in) operating activities | 3,202 | 1,682 | (91) | 4,793 | ||||||||||||||||||||||
| Cash Flows From Investing Activities | ||||||||||||||||||||||||||
| Capital expenditures of FPL | (4,007) | — | — | (4,007) | ||||||||||||||||||||||
| Independent power and other investments of NEER | — | (4,939) | — | (4,939) | ||||||||||||||||||||||
| Nuclear fuel purchases | (44) | (23) | — | (67) | ||||||||||||||||||||||
| Other capital expenditures | — | — | (451) | (451) | ||||||||||||||||||||||
| Proceeds from sale or maturity of securities in special use funds and other investments | 1,183 | 642 | 214 | 2,039 | ||||||||||||||||||||||
| Purchases of securities in special use funds and other investments | (1,245) | (749) | (245) | (2,239) | ||||||||||||||||||||||
| Other – net | (18) | 219 | 155 | 356 | ||||||||||||||||||||||
| Net cash used in investing activities | (4,131) | (4,850) | (327) | (9,308) | ||||||||||||||||||||||
| Cash Flows From Financing Activities | ||||||||||||||||||||||||||
| Issuances of long-term debt, including premiums and discounts | 2,942 | 49 | 6,624 | 9,615 | ||||||||||||||||||||||
| Retirements of long-term debt | (100) | (180) | (1,264) | (1,544) | ||||||||||||||||||||||
| Net change in commercial paper | (1,382) | — | 1,011 | (371) | ||||||||||||||||||||||
| Proceeds from other short-term debt | — | — | 1,725 | 1,725 | ||||||||||||||||||||||
| Repayments of other short-term debt | — | — | (525) | (525) | ||||||||||||||||||||||
| Payments from related parties under a cash sweep and credit support agreement – net | — | 499 | — | 499 | ||||||||||||||||||||||
| Issuances of common stock/equity units – net | — | — | 1 | 1 | ||||||||||||||||||||||
| Dividends on common stock | — | — | (1,671) | (1,671) | ||||||||||||||||||||||
| Dividends & capital distributions from (to) parent – net | (500) | 3,917 | (3,417) | — | ||||||||||||||||||||||
| Other – net | (33) | 169 | (170) | (34) | ||||||||||||||||||||||
| Net cash provided by financing activities | 927 | 4,454 | 2,314 | 7,695 | ||||||||||||||||||||||
| Effects of currency translation on cash, cash equivalents and restricted cash | — | (3) | — | (3) | ||||||||||||||||||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | (2) | 1,283 | 1,896 | 3,177 | ||||||||||||||||||||||
| Cash, cash equivalents and restricted cash at beginning of period | 108 | 1,184 | 24 | 1,316 | ||||||||||||||||||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 106 | $ | 2,467 | $ | 1,920 | $ | 4,493 | ||||||||||||||||||
| ———————————— | |||||
| (a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||
| Preliminary | ||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | FPL(a) | NEER | Corporate and Other(a)(b) | NextEra Energy | ||||||||||||||||||||||
| Cash Flows From Operating Activities | ||||||||||||||||||||||||||
| Net income (loss) | $ | 1,660 | $ | (176) | $ | 86 | $ | 1,570 | ||||||||||||||||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||||||||||||||||
| Depreciation and amortization | 910 | 780 | 40 | 1,730 | ||||||||||||||||||||||
| Nuclear fuel and other amortization | 84 | 37 | 13 | 134 | ||||||||||||||||||||||
| Unrealized losses (gains) on marked to market derivative contracts – net | — | 1,209 | (186) | 1,023 | ||||||||||||||||||||||
| Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds - net | — | (162) | — | (162) | ||||||||||||||||||||||
| Foreign currency transaction losses (gains) | — | 2 | (57) | (55) | ||||||||||||||||||||||
| Deferred income taxes | 285 | (117) | 26 | 194 | ||||||||||||||||||||||
| Cost recovery clauses and franchise fees | (88) | — | — | (88) | ||||||||||||||||||||||
| Equity in losses (earnings) of equity method investees | — | (356) | — | (356) | ||||||||||||||||||||||
| Distributions of earnings from equity method investees | — | 248 | — | 248 | ||||||||||||||||||||||
| Losses (gains) on disposal of businesses, assets and investments – net | — | (65) | 6 | (59) | ||||||||||||||||||||||
| Recoverable storm-related costs | (135) | — | — | (135) | ||||||||||||||||||||||
| Other – net | (5) | (87) | 5 | (87) | ||||||||||||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||||||||||||||
| Current assets | (136) | (329) | (78) | (543) | ||||||||||||||||||||||
| Noncurrent assets | (44) | (190) | (39) | (273) | ||||||||||||||||||||||
| Current liabilities | 199 | 146 | (61) | 284 | ||||||||||||||||||||||
| Noncurrent liabilities | (3) | 15 | 58 | 70 | ||||||||||||||||||||||
| Net cash provided by (used in) operating activities | 2,727 | 955 | (187) | 3,495 | ||||||||||||||||||||||
| Cash Flows From Investing Activities | ||||||||||||||||||||||||||
| Capital expenditures of FPL | (3,269) | — | — | (3,269) | ||||||||||||||||||||||
| Independent power and other investments of NEER | — | (4,873) | — | (4,873) | ||||||||||||||||||||||
| Nuclear fuel purchases | (88) | (85) | — | (173) | ||||||||||||||||||||||
| Proceeds from sale or maturity of securities in special use funds and other investments | 1,813 | 659 | 51 | 2,523 | ||||||||||||||||||||||
| Purchases of securities in special use funds and other investments | (1,871) | (670) | (76) | (2,617) | ||||||||||||||||||||||
| Other – net | (2) | 237 | 13 | 248 | ||||||||||||||||||||||
| Net cash used in investing activities | (3,417) | (4,732) | (12) | (8,161) | ||||||||||||||||||||||
| Cash Flows From Financing Activities | ||||||||||||||||||||||||||
| Issuances of long-term debt, including premiums and discounts | 1,388 | 121 | 5,850 | 7,359 | ||||||||||||||||||||||
| Retirements of long-term debt | (54) | (164) | (805) | (1,023) | ||||||||||||||||||||||
| Net change in commercial paper | (1,267) | — | 275 | (992) | ||||||||||||||||||||||
| Repayments of other short-term debt | — | (58) | (200) | (258) | ||||||||||||||||||||||
| Payments from related parties under a cash sweep and credit support agreement – net | — | 1,085 | — | 1,085 | ||||||||||||||||||||||
| Issuances of common stock/equity units – net | — | — | 5 | 5 | ||||||||||||||||||||||
| Dividends on common stock | — | — | (1,511) | (1,511) | ||||||||||||||||||||||
| Dividends & capital distributions from (to) parent – net | 600 | 3,022 | (3,622) | — | ||||||||||||||||||||||
| Other – net | (16) | 64 | (164) | (116) | ||||||||||||||||||||||
| Net cash provided by (used in) financing activities | 651 | 4,070 | (172) | 4,549 | ||||||||||||||||||||||
| Effects of currency translation on cash, cash equivalents and restricted cash | — | 4 | — | 4 | ||||||||||||||||||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | (39) | 297 | (371) | (113) | ||||||||||||||||||||||
| Cash, cash equivalents and restricted cash at beginning of period | 160 | 842 | 544 | 1,546 | ||||||||||||||||||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 121 | $ | 1,139 | $ | 173 | $ | 1,433 | ||||||||||||||||||
| ———————————— | |||||
| (a) | Florida Power & Light completed the regulatory integration of Gulf Power under its 2021 base rate settlement agreement and began serving customers under unified rates on January 1, 2022. As a result, Gulf Power is no longer a separate reporting segment. Amounts have been retrospectively adjusted to reflect the segment change. | ||||
| (b) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||
| Preliminary | ||||||||||||||||||||
| First Quarter | Second Quarter | Year-To-Date | ||||||||||||||||||
| 2021 Earnings Per Share Attributable to NextEra Energy, Inc. | $ | 0.84 | $ | 0.13 | $ | 0.98 | ||||||||||||||
| FPL – 2021 Earnings Per Share | $ | 0.39 | $ | 0.45 | $ | 0.84 | ||||||||||||||
| New investment growth | 0.05 | 0.05 | 0.09 | |||||||||||||||||
| Other and share dilution | — | — | 0.01 | |||||||||||||||||
| FPL – 2022 Earnings Per Share | $ | 0.44 | $ | 0.50 | $ | 0.94 | ||||||||||||||
| NEER – 2021 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. | $ | 0.25 | $ | (0.16) | $ | 0.09 | ||||||||||||||
| New investments | 0.01 | — | 0.01 | |||||||||||||||||
| Existing generation and storage assets | 0.05 | 0.03 | 0.09 | |||||||||||||||||
| Gas infrastructure | (0.02) | — | (0.02) | |||||||||||||||||
| Customer supply and proprietary power & gas trading | (0.02) | 0.02 | — | |||||||||||||||||
| Non-qualifying hedges impact | (0.65) | 0.33 | (0.32) | |||||||||||||||||
| Change in unrealized gains (losses) on securities held in NEER's nuclear decommissioning funds and OTTI – net | (0.07) | (0.15) | (0.21) | |||||||||||||||||
| Impairment charge related to investment in Mountain Valley Pipeline | (0.31) | (0.01) | (0.32) | |||||||||||||||||
| Other, including other investment income, interest expense, corporate general and administrative expenses and share dilution | — | 0.01 | (0.01) | |||||||||||||||||
| NEER – 2022 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. | $ | (0.76) | $ | 0.07 | $ | (0.69) | ||||||||||||||
| Corporate and Other – 2021 Earnings (Loss) Per Share | $ | 0.20 | $ | (0.16) | $ | 0.05 | ||||||||||||||
| Non-qualifying hedges impact | (0.11) | 0.30 | 0.18 | |||||||||||||||||
| Other, including interest expense and share dilution | — | (0.01) | (0.01) | |||||||||||||||||
| Corporate and Other – 2022 Earnings Per Share | $ | 0.09 | $ | 0.13 | $ | 0.22 | ||||||||||||||
| 2022 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. | $ | (0.23) | $ | 0.70 | $ | 0.47 | ||||||||||||||
| Florida Power & Light completed the regulatory integration of Gulf Power under its 2021 base rate settlement agreement and began serving customers under unified rates on January 1, 2022. As a result, Gulf Power is no longer a separate reporting segment. FPL and Corporate and Other amounts for 2021 have been retrospectively adjusted to reflect the segment change. | ||||||||||||||||||||
| Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||
| The sum of the quarterly amounts may not equal the total for the year due to rounding. | ||||||||||||||||||||