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Summarized Financial Information of Capital Holdings
 3 Months Ended
Mar. 31, 2013
Summarized Financial Information [Abstract]  
Summarized Financial Information of Capital Holdings
12.  Summarized Financial Information of NEECH

NEECH, a 100% owned subsidiary of NEE, provides funding for, and holds ownership interests in, NEE's operating subsidiaries other than FPL.  Most of NEECH's debt, including its debentures, and payment guarantees are fully and unconditionally guaranteed by NEE.  Condensed consolidating financial information is as follows:

Condensed Consolidating Statements of Income

 
Three Months Ended March 31,
 
2013
 
2012
 
NEE
(Guarantor)
 
NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
NEE
(Guarantor)
 
NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
 
 
 
 
 
 
(millions)
 
 
 
 
 
 
Operating revenues
$
—

 
$
1,094

 
$
2,185

 
$
3,279

 
$
—

 
$
1,151

 
$
2,220

 
$
3,371

Operating expenses(b)
(3
)
 
(1,200
)
 
(1,642
)
 
(2,845
)
 
(4
)
 
(825
)
 
(1,739
)
 
(2,568
)
Interest expense
(2
)
 
(170
)
 
(100
)
 
(272
)
 
(3
)
 
(161
)
 
(101
)
 
(265
)
Equity in earnings of subsidiaries
249

 
—

 
(249
)
 
—

 
458

 
—

 
(458
)
 
—

Other income (deductions) - net(b)
—

 
73

 
17

 
90

 
—

 
73

 
7

 
80

Income (loss) from continuing operations before income taxes
244

 
(203
)
 
211

 
252

 
451

 
238

 
(71
)
 
618

Income tax expense (benefit)
(15
)
 
11

 
172

 
168

 
(10
)
 
19

 
148

 
157

Income (loss) from continuing operations
259

 
(214
)
 
39

 
84

 
461

 
219

 
(219
)
 
461

Net gain from discontinued operations, net of income taxes
13

 
175

 
—

 
188

 
—

 
—

 
—

 
—

Net income (loss)
$
272

 
$
(39
)
 
$
39

 
$
272

 
$
461

 
$
219

 
$
(219
)
 
$
461


————————————
(a)  Represents FPL and consolidating adjustments.
(b) Prior year amounts are restated to conform to the current year's presentation.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Condensed Consolidating Statements of Comprehensive Income

 
Three Months Ended March 31,
 
2013
 
2012
 
NEE
(Guarantor)
 
NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
NEE
(Guarantor)
 
NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
 
 
 
 
 
 
(millions)
 
 
 
 
 
 
Comprehensive income (loss)
$
391

 
$
73

 
$
(73
)
 
$
391

 
$
521

 
$
291

 
$
(291
)
 
$
521

————————————
(a)
Represents FPL and consolidating adjustments.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Condensed Consolidating Balance Sheets

 
March 31, 2013
 
December 31, 2012
 
NEE
(Guaran-
tor)
 
NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
NEE
(Guaran-
tor)
 
NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
 
 
 
 
 
 
(millions)
 
 
 
 
 
 
PROPERTY, PLANT AND EQUIPMENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric plant in service and other property
$
32

 
$
27,030

 
$
38,428

 
$
65,490

 
$
31

 
$
26,638

 
$
38,248

 
$
64,917

Less accumulated depreciation and amortization
(8
)
 
(5,060
)
 
(10,598
)
 
(15,666
)
 
(7
)
 
(4,800
)
 
(10,697
)
 
(15,504
)
Total property, plant and equipment - net
24

 
21,970

 
27,830

 
49,824

 
24

 
21,838

 
27,551

 
49,413

CURRENT ASSETS
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
—

 
179

 
36

 
215

 
2

 
287

 
40

 
329

Receivables
507

 
1,047

 
205

 
1,759

 
398

 
1,208

 
450

 
2,056

Other
9

 
903

 
1,159

 
2,071

 
432

 
1,421

 
999

 
2,852

Total current assets
516

 
2,129

 
1,400

 
4,045

 
832

 
2,916

 
1,489

 
5,237

OTHER ASSETS
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Investment in subsidiaries
16,138

 
—

 
(16,138
)
 
—

 
16,064

 
—

 
(16,064
)
 
—

Other
758

 
4,718

 
4,498

 
9,974

 
647

 
4,749

 
4,393

 
9,789

Total other assets
16,896

 
4,718

 
(11,640
)
 
9,974

 
16,711

 
4,749

 
(11,671
)
 
9,789

TOTAL ASSETS
$
17,436

 
$
28,817

 
$
17,590

 
$
63,843

 
$
17,567

 
$
29,503

 
$
17,369

 
$
64,439

CAPITALIZATION
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Common shareholders' equity
$
16,202

 
$
3,660

 
$
(3,660
)
 
$
16,202

 
$
16,068

 
$
3,533

 
$
(3,533
)
 
$
16,068

Long-term debt
—

 
14,565

 
8,301

 
22,866

 
—

 
14,848

 
8,329

 
23,177

Total capitalization
16,202

 
18,225

 
4,641

 
39,068

 
16,068

 
18,381

 
4,796

 
39,245

CURRENT LIABILITIES
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Debt due within one year
—

 
4,099

 
959

 
5,058

 
—

 
3,624

 
558

 
4,182

Accounts payable
—

 
475

 
619

 
1,094

 
1

 
667

 
613

 
1,281

Other
614

 
1,614

 
396

 
2,624

 
440

 
2,317

 
659

 
3,416

Total current liabilities
614

 
6,188

 
1,974

 
8,776

 
441

 
6,608

 
1,830

 
8,879

OTHER LIABILITIES AND DEFERRED CREDITS
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Asset retirement obligations
—

 
517

 
1,222

 
1,739

 
—

 
508

 
1,207

 
1,715

Deferred income taxes
70

 
1,040

 
5,550

 
6,660

 
497

 
891

 
5,315

 
6,703

Other
550

 
2,847

 
4,203

 
7,600

 
561

 
3,115

 
4,221

 
7,897

Total other liabilities and deferred credits
620

 
4,404

 
10,975

 
15,999

 
1,058

 
4,514

 
10,743

 
16,315

COMMITMENTS AND CONTINGENCIES


 


 


 


 


 


 


 


TOTAL CAPITALIZATION AND LIABILITIES
$
17,436

 
$
28,817

 
$
17,590

 
$
63,843

 
$
17,567

 
$
29,503

 
$
17,369

 
$
64,439

————————————
(a)
Represents FPL and consolidating adjustments.


Condensed Consolidating Statements of Cash Flows

 
Three Months Ended March 31,
 
2013
 
2012
 
NEE
(Guaran-
tor)
 

NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
NEE
(Guaran-
tor)
 

NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
 
 
 
 
 
 
(millions)
 
 
 
 
 
 
NET CASH PROVIDED BY OPERATING ACTIVITIES
$
350

 
$
295

 
$
437

 
$
1,082

 
$
307

 
$
265

 
$
263

 
$
835

CASH FLOWS FROM INVESTING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Capital expenditures, independent power and other investments and nuclear fuel purchases
—

 
(1,046
)
 
(821
)
 
(1,867
)
 
—

 
(902
)
 
(1,112
)
 
(2,014
)
Capital contribution to FPL
—

 
—

 
—

 
—

 
(40
)
 
—

 
40

 
—

Cash grants under the Recovery Act
—

 
170

 
—

 
170

 
—

 
—

 
—

 
—

Change in loan proceeds restricted for construction
—

 
112

 
—

 
112

 
—

 
45

 
—

 
45

Other - net
(52
)
 
29

 
30

 
7

 
—

 
(16
)
 
(10
)
 
(26
)
Net cash used in investing activities
(52
)
 
(735
)
 
(791
)
 
(1,578
)
 
(40
)
 
(873
)
 
(1,082
)
 
(1,995
)
CASH FLOWS FROM FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Issuances of long-term debt
—

 
623

 
—

 
623

 
—

 
566

 
—

 
566

Retirements of long-term debt
—

 
(496
)
 
(427
)
 
(923
)
 
—

 
(109
)
 
(25
)
 
(134
)
Proceeds from sale of differential membership interests
—

 
—

 
—

 
—

 
—

 
303

 
—

 
303

Net change in short-term debt
—

 
166

 
800

 
966

 
—

 
75

 
507

 
582

Dividends on common stock
(279
)
 
—

 
—

 
(279
)
 
(248
)
 
—

 
—

 
(248
)
   Other - net
(21
)
 
39

 
(23
)
 
(5
)
 
(19
)
 
(309
)
 
317

 
(11
)
Net cash provided by (used in) financing activities
(300
)
 
332

 
350

 
382

 
(267
)
 
526

 
799

 
1,058

Net decrease in cash and cash equivalents
(2
)
 
(108
)
 
(4
)
 
(114
)
 
—

 
(82
)
 
(20
)
 
(102
)
Cash and cash equivalents at beginning of period
2

 
287

 
40

 
329

 
1

 
339

 
37

 
377

Cash and cash equivalents at end of period
$
—

 
$
179

 
$
36

 
$
215

 
$
1

 
$
257

 
$
17

 
$
275

————————————
(a)
Represents FPL and consolidating adjustments.