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Non-Derivative Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Netting(a) |  | Total
| (millions)
Assets: |  |  |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 2,640 |  |  | $ | 4,741 |  |  | $ | 1,925 |  |  | $ | (6,171) |  |  | $ | 3,135 |
Interest rate contracts | $ | — |  |  | $ | 304 |  |  | $ | — |  |  | $ | 81 |  |  | 385 |
Foreign currency contracts | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | — |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 3,520 |
FPL – commodity contracts | $ | — |  |  | $ | 1 |  |  | $ | 29 |  |  | $ | (3) |  |  | $ | 27 |
Liabilities: |  |  |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 3,796 |  |  | $ | 4,664 |  |  | $ | 974 |  |  | $ | (6,531) |  |  | $ | 2,903 |
Interest rate contracts | $ | — |  |  | $ | 553 |  |  | $ | — |  |  | $ | 81 |  |  | 634 |
Foreign currency contracts | $ | — |  |  | $ | 49 |  |  | $ | — |  |  | $ | — |  |  | 49 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 3,586 |
FPL – commodity contracts | $ | — |  |  | $ | 13 |  |  | $ | 5 |  |  | $ | (3) |  |  | $ | 15 |
Net fair value by NEE balance sheet line item: |  |  |  |  |  |  |  |  |
Current derivative assets(b) |  |  |  |  |  |  |  |  | $ | 1,730 |
Noncurrent derivative assets(c) |  |  |  |  |  |  |  |  | 1,790 |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 3,520 |
Current derivative liabilities(d) |  |  |  |  |  |  |  |  | $ | 845 |
Noncurrent derivative liabilities |  |  |  |  |  |  |  |  | 2,741 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 3,586 |
Net fair value by FPL balance sheet line item: |  |  |  |  |  |  |  |  |
Current other assets |  |  |  |  |  |  |  |  | $ | 13 |
Noncurrent other assets |  |  |  |  |  |  |  |  | 14 |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 27 |
Current other liabilities |  |  |  |  |  |  |  |  | $ | 9 |
Noncurrent other liabilities |  |  |  |  |  |  |  |  | 6 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 15 |
______________________ (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 $148 million in margin cash collateral received from counterparties. (c)Reflects the netting of approximately $307 million in margin cash collateral received from counterparties. (d)Reflects the netting of approximately $815 million in margin cash collateral paid to counterparties.
| December 31, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Netting(a) |  | Total
| (millions)
Assets: |  |  |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 5,372 |  |  | $ | 7,559 |  |  | $ | 2,094 |  |  | $ | (12,030) |  |  | $ | 2,995 |
Interest rate contracts | $ | — |  |  | $ | 583 |  |  | $ | — |  |  | $ | (49) |  |  | 534 |
Foreign currency contracts | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (4) |  |  | (4) |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 3,525 |
FPL – commodity contracts | $ | — |  |  | $ | 11 |  |  | $ | 25 |  |  | $ | (7) |  |  | $ | 29 |
Liabilities: |  |  |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 7,185 |  |  | $ | 7,620 |  |  | $ | 2,948 |  |  | $ | (13,010) |  |  | $ | 4,743 |
Interest rate contracts | $ | — |  |  | $ | 191 |  |  | $ | — |  |  | $ | (49) |  |  | 142 |
Foreign currency contracts | $ | — |  |  | $ | 130 |  |  | $ | — |  |  | $ | (4) |  |  | 126 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 5,011 |
FPL – commodity contracts | $ | — |  |  | $ | 4 |  |  | $ | 16 |  |  | $ | (7) |  |  | $ | 13 |
Net fair value by NEE balance sheet line item: |  |  |  |  |  |  |  |  |
Current derivative assets(b) |  |  |  |  |  |  |  |  | $ | 1,590 |
Noncurrent derivative assets(c) |  |  |  |  |  |  |  |  | 1,935 |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 3,525 |
Current derivative liabilities(d) |  |  |  |  |  |  |  |  | $ | 2,102 |
Noncurrent derivative liabilities(e) |  |  |  |  |  |  |  |  | 2,909 |
Total derivative liabilities |  |  |  |  |  |  |  |  | $ | 5,011 |
Net fair value by FPL balance sheet line item: |  |  |  |  |  |  |  |  |
Current other assets |  |  |  |  |  |  |  |  | $ | 19 |
Noncurrent other assets |  |  |  |  |  |  |  |  | 10 |
Total derivative assets |  |  |  |  |  |  |  |  | $ | 29 |
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 $299 million in margin cash collateral received from counterparties. (c)Reflects the netting of approximately $262 million in margin cash collateral received from counterparties. (d)Reflects the netting of approximately $328 million in margin cash collateral paid to counterparties. (e)Reflects the netting of approximately $1,213 million in margin cash collateral paid to counterparties 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, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (millions)
Assets: |  |  |  |  |  |  |
Cash equivalents and restricted cash equivalents:(a) |  |  |  |  |  |  |
NEE – equity securities | $ | 1,972 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,972 |
FPL – equity securities | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | 12 |
Special use funds:(b) |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |
Equity securities | $ | 2,349 |  |  | $ | 2,742 |  | (c) | $ | 199 |  |  | $ | 5,290 |
U.S. Government and municipal bonds | $ | 700 |  |  | $ | 57 |  |  | $ | — |  |  | $ | 757 |
Corporate debt securities | $ | 3 |  |  | $ | 620 |  |  | $ | — |  |  | $ | 623 |
Asset-backed securities | $ | — |  |  | $ | 822 |  |  | $ | — |  |  | $ | 822 |
Other debt securities | $ | 6 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 20 |
FPL: |  |  |  |  |  |  |
Equity securities | $ | 863 |  |  | $ | 2,474 |  | (c) | $ | 199 |  |  | $ | 3,536 |
U.S. Government and municipal bonds | $ | 556 |  |  | $ | 27 |  |  | $ | — |  |  | $ | 583 |
Corporate debt securities | $ | 3 |  |  | $ | 455 |  |  | $ | — |  |  | $ | 458 |
Asset-backed securities | $ | — |  |  | $ | 606 |  |  | $ | — |  |  | $ | 606 |
Other debt securities | $ | 5 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 11 |
Other investments:(d) |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |
Equity securities | $ | 50 |  |  | $ | — |  |  | $ | — |  |  | $ | 50 |
U.S. Government and municipal bonds | $ | 288 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 291 |
Corporate debt securities | $ | — |  |  | $ | 408 |  |  | $ | 115 |  |  | $ | 523 |
Other debt securities | $ | — |  |  | $ | 196 |  |  | $ | 15 |  |  | $ | 211 |
FPL: |  |  |  |  |  |  |
Equity securities | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |
______________________ (a)Includes restricted cash equivalents of approximately $34 million ($11 million for FPL) in current 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 and FPL's consolidated balance sheets.
| December 31, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (millions)
Assets: |  |  |  |  |  |  |
Cash equivalents and restricted cash equivalents:(a) |  |  |  |  |  |  |
NEE – equity securities | $ | 961 |  |  | $ | — |  |  | $ | — |  |  | $ | 961 |
FPL – equity securities | $ | 36 |  |  | $ | — |  |  | $ | — |  |  | $ | 36 |
Special use funds:(b) |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |
Equity securities | $ | 2,062 |  |  | $ | 2,375 |  | (c) | $ | — |  |  | $ | 4,437 |
U.S. Government and municipal bonds | $ | 641 |  |  | $ | 63 |  |  | $ | — |  |  | $ | 704 |
Corporate debt securities | $ | 6 |  |  | $ | 716 |  |  | $ | — |  |  | $ | 722 |
Asset-backed securities | $ | — |  |  | $ | 615 |  |  | $ | — |  |  | $ | 615 |
Other debt securities | $ | 1 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 20 |
FPL: |  |  |  |  |  |  |
Equity securities | $ | 743 |  |  | $ | 2,162 |  | (c) | $ | — |  |  | $ | 2,905 |
U.S. Government and municipal bonds | $ | 505 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 534 |
Corporate debt securities | $ | 6 |  |  | $ | 547 |  |  | $ | — |  |  | $ | 553 |
Asset-backed securities | $ | — |  |  | $ | 473 |  |  | $ | — |  |  | $ | 473 |
Other debt securities | $ | 1 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 12 |
Other investments:(d) |  |  |  |  |  |  |
NEE: |  |  |  |  |  |  |
Equity securities | $ | 30 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 31 |
U.S. Government and municipal bonds | $ | 117 |  |  | $ | 118 |  |  | $ | — |  |  | $ | 235 |
Corporate debt securities | $ | — |  |  | $ | 125 |  |  | $ | 108 |  |  | $ | 233 |
Other debt securities | $ | — |  |  | $ | 57 |  |  | $ | 10 |  |  | $ | 67 |
FPL: |  |  |  |  |  |  |
Equity securities | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |
Debt securities | $ | — |  |  | $ | 114 |  |  | $ | — |  |  | $ | 114 |
______________________ (a)Includes restricted cash equivalents of approximately $69 million ($33 million for FPL) in current 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 and FPL's consolidated balance sheets.
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, 2023 |  | December 31, 2022
| Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
| (millions) |
NEE: |  |
Special use funds(a) | $ | 1,186 |  |  | $ | 1,187 |  |  | $ | 998 |  |  | $ | 999 |  |
Other receivables, net of allowances(b) | $ | 777 |  |  | $ | 777 |  |  | $ | 246 |  |  | $ | 246 |  |
Long-term debt, including current portion | $ | 68,306 |  |  | $ | 64,103 |  | (c) | $ | 61,889 |  |  | $ | 57,892 |  | (c)
FPL: |  |  |  |  |  |  |  |
Special use funds(a) | $ | 856 |  |  | $ | 856 |  |  | $ | 744 |  |  | $ | 744 |  |
Long-term debt, including current portion | $ | 25,274 |  |  | $ | 23,430 |  | (c) | $ | 21,002 |  |  | $ | 19,364 |  | (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)Approximately $567 million and $25 million is included in current other assets and $210 million and $221 million is included in noncurrent other assets on NEE's consolidated balance sheets at December 31, 2023 and 2022, respectively (primarily Level 3). (c)At December 31, 2023 and 2022, substantially all is Level 2 for NEE and FPL.
Unrealized Gains (Losses) Recognized On Equity Securities | Unrealized gains (losses) recognized on equity securities held at December 31, 2023, 2022 and 2021 are as follows:
| NEE |  | FPL
| Years Ended December 31, |  | Years Ended December 31,
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
| (millions)
Unrealized gains (losses) | $ | 881 |  |  | $ | (1,028) |  |  | $ | 981 |  |  | $ | 598 |  |  | $ | (677) |  |  | $ | 652 |
Debt Securities, Available-for-sale | 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,
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
| (millions)
Realized gains | $ | 40 |  |  | $ | 30 |  |  | $ | 78 |  |  | $ | 35 |  |  | $ | 24 |  |  | $ | 59 |
Realized losses | $ | 169 |  |  | $ | 141 |  |  | $ | 73 |  |  | $ | 147 |  |  | $ | 111 |  |  | $ | 57 |
Proceeds from sale or maturity of securities | $ | 2,380 |  |  | $ | 2,207 |  |  | $ | 1,831 |  |  | $ | 1,921 |  |  | $ | 1,371 |  |  | $ | 1,330 |
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,
| 2023 |  | 2022 |  | 2023 |  | 2022
|  |  | (millions) |  |
Unrealized gains | $ | 41 |  |  | $ | 4 |  |  | $ | 31 |  |  | $ | 3 |
Unrealized losses(a) | $ | 134 |  |  | $ | 285 |  |  | $ | 71 |  |  | $ | 193 |
Fair value | $ | 1,862 |  |  | $ | 2,315 |  |  | $ | 872 |  |  | $ | 1,466 |
______________________ (a)Unrealized losses on available for sale debt securities in an unrealized loss position for greater than twelve months at December 31, 2023 and 2022 were not material to NEE or FPL.

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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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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