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v3.22.4

Summary of Significant Accounting and Reporting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Accounting Policies [Abstract] |
Schedule of Regulatory Assets | NEE's and FPL's regulatory assets and liabilities are as follows:
| NEE |  | FPL
| December 31, |  | December 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (millions)
Regulatory assets: |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |
Early retirement of generation facilities and transmission assets(a) | $ | 145 |  |  | $ | 140 |  |  | $ | 145 |  |  | $ | 140 |
Acquisition of purchased power agreements(b) | 141 |  |  | 141 |  |  | 141 |  |  | 141 |
Deferred clause and franchise expenses | 919 |  | (c) | 698 |  |  | 919 |  | (c) | 698 |
Storm restoration costs | 911 |  | (d) | 92 |  |  | 911 |  | (d) | 92 |
Other | 49 |  |  | 54 |  |  | 39 |  |  | 40 |
Total | $ | 2,165 |  |  | $ | 1,125 |  |  | $ | 2,155 |  |  | $ | 1,111 |
Noncurrent: |  |  |  |  |  |  |
Early retirement of generation facilities and transmission assets(a) | $ | 2,026 |  |  | $ | 2,233 |  |  | $ | 2,026 |  |  | $ | 2,233 |
Acquisition of purchased power agreements(b) | 191 |  |  | 332 |  |  | 191 |  |  | 332 |
Deferred clause expenses | 1,227 |  | (c) | 17 |  |  | 1,227 |  | (c) | 17 |
Storm restoration costs | 326 |  | (d) | 150 |  |  | 326 |  | (d) | 150 |
Accrued asset removal costs(e) | 532 |  |  | 263 |  |  | 532 |  |  | 263 |
Other | 1,690 |  |  | 1,583 |  |  | 1,182 |  |  | 1,348 |
Total | $ | 5,992 |  |  | $ | 4,578 |  |  | $ | 5,484 |  |  | $ | 4,343 |
Regulatory liabilities: |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |
Deferred clause revenues | $ | 339 |  |  | $ | 274 |  |  | $ | 339 |  |  | $ | 274 |
Other | 11 |  |  | 15 |  |  | 10 |  |  | 4 |
Total | $ | 350 |  |  | $ | 289 |  |  | $ | 349 |  |  | $ | 278 |
Noncurrent: |  |  |  |  |  |  |
Asset retirement obligation regulatory expense difference | $ | 3,323 |  |  | $ | 4,290 |  |  | $ | 3,323 |  |  | $ | 4,290 |
Accrued asset removal costs(e) | 658 |  |  | 782 |  |  | 623 |  |  | 752 |
Deferred taxes | 4,233 |  |  | 4,561 |  |  | 4,129 |  |  | 4,457 |
Other | 1,412 |  |  | 1,640 |  |  | 1,383 |  |  | 1,554 |
Total | $ | 9,626 |  |  | $ | 11,273 |  |  | $ | 9,458 |  |  | $ | 11,053 |
______________________ (a)The majority of these regulatory assets are being amortized over 20 years. (b)The majority of these regulatory assets are being amortized over approximately 9 years. (c)The majority of these regulatory assets are expected to be amortized over 21 months beginning April 2023. See below regarding the 2022 fuel under-recovery. (d)The majority of these regulatory assets are expected to be amortized over 12 months beginning April 2023. See Storm Funds, Storm Reserves and Storm Cost Recovery below. (e)See Electric Plant, Depreciation and Amortization below.
Schedule of Regulatory Liabilities | NEE's and FPL's regulatory assets and liabilities are as follows:
| NEE |  | FPL
| December 31, |  | December 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (millions)
Regulatory assets: |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |
Early retirement of generation facilities and transmission assets(a) | $ | 145 |  |  | $ | 140 |  |  | $ | 145 |  |  | $ | 140 |
Acquisition of purchased power agreements(b) | 141 |  |  | 141 |  |  | 141 |  |  | 141 |
Deferred clause and franchise expenses | 919 |  | (c) | 698 |  |  | 919 |  | (c) | 698 |
Storm restoration costs | 911 |  | (d) | 92 |  |  | 911 |  | (d) | 92 |
Other | 49 |  |  | 54 |  |  | 39 |  |  | 40 |
Total | $ | 2,165 |  |  | $ | 1,125 |  |  | $ | 2,155 |  |  | $ | 1,111 |
Noncurrent: |  |  |  |  |  |  |
Early retirement of generation facilities and transmission assets(a) | $ | 2,026 |  |  | $ | 2,233 |  |  | $ | 2,026 |  |  | $ | 2,233 |
Acquisition of purchased power agreements(b) | 191 |  |  | 332 |  |  | 191 |  |  | 332 |
Deferred clause expenses | 1,227 |  | (c) | 17 |  |  | 1,227 |  | (c) | 17 |
Storm restoration costs | 326 |  | (d) | 150 |  |  | 326 |  | (d) | 150 |
Accrued asset removal costs(e) | 532 |  |  | 263 |  |  | 532 |  |  | 263 |
Other | 1,690 |  |  | 1,583 |  |  | 1,182 |  |  | 1,348 |
Total | $ | 5,992 |  |  | $ | 4,578 |  |  | $ | 5,484 |  |  | $ | 4,343 |
Regulatory liabilities: |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |
Deferred clause revenues | $ | 339 |  |  | $ | 274 |  |  | $ | 339 |  |  | $ | 274 |
Other | 11 |  |  | 15 |  |  | 10 |  |  | 4 |
Total | $ | 350 |  |  | $ | 289 |  |  | $ | 349 |  |  | $ | 278 |
Noncurrent: |  |  |  |  |  |  |
Asset retirement obligation regulatory expense difference | $ | 3,323 |  |  | $ | 4,290 |  |  | $ | 3,323 |  |  | $ | 4,290 |
Accrued asset removal costs(e) | 658 |  |  | 782 |  |  | 623 |  |  | 752 |
Deferred taxes | 4,233 |  |  | 4,561 |  |  | 4,129 |  |  | 4,457 |
Other | 1,412 |  |  | 1,640 |  |  | 1,383 |  |  | 1,554 |
Total | $ | 9,626 |  |  | $ | 11,273 |  |  | $ | 9,458 |  |  | $ | 11,053 |
______________________ (a)The majority of these regulatory assets are being amortized over 20 years. (b)The majority of these regulatory assets are being amortized over approximately 9 years. (c)The majority of these regulatory assets are expected to be amortized over 21 months beginning April 2023. See below regarding the 2022 fuel under-recovery. (d)The majority of these regulatory assets are expected to be amortized over 12 months beginning April 2023. See Storm Funds, Storm Reserves and Storm Cost Recovery below. (e)See Electric Plant, Depreciation and Amortization below.
Schedule of Goodwill and Other Intangible Assets | NEE's goodwill and other intangible assets are as follows:
| Weighted- Average Useful Lives |  | December 31,
|  | 2022 |  | 2021
| (years) |  | (millions)
Goodwill (by reporting unit): |  |  |  |  |
FPL segment, primarily rate-regulated utilities (see Note 6 – Merger of FPL and Gulf Power Company) |  |  | $ | 2,989 |  |  | $ | 2,989 |
NEER segment: |  |  |  |  |
Rate-regulated assets, primarily transmission (see Note 6 – GridLiance) |  |  | 1,218 |  |  | 1,206 |
Gas infrastructure |  |  | 487 |  |  | 487 |
Customer supply and trading |  |  | 95 |  |  | 95 |
Clean energy assets |  |  | 54 |  |  | 56 |
Corporate and Other |  |  | 11 |  |  | 11 |
Total goodwill |  |  | $ | 4,854 |  |  | $ | 4,844 |
Other intangible assets not subject to amortization, primarily land easements |  |  | $ | 136 |  |  | $ | 136 |
Other intangible assets subject to amortization: |  |  |  |  |
Purchased power agreements | 16 |  | $ | 549 |  |  | $ | 507 |
Other, primarily transportation contracts and customer lists | 24 |  | 173 |  |  | 187 |
Total |  |  | 722 |  |  | 694 |
Accumulated amortization |  |  | (99) |  |  | (88) |
Total other intangible assets subject to amortization – net |  |  | $ | 623 |  |  | $ | 606 |

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