Segment Information

12 Months Ended

Dec. 31, 2013

Segment Information [Abstract]

Segment Information

14.  Segment Information

NEE's reportable segments are FPL, a rate-regulated electric utility, and NEER, a competitive energy business.  NEER's segment information includes an allocation of interest expense from NEECH based on a deemed capital structure of 70% debt and allocated shared service costs.  Corporate and Other represents other business activities, other segments that are not separately reportable and eliminating entries.  NEE's operating revenues derived from the sale of electricity represented approximately 92%, 93% and 95% of NEE's operating revenues for the years ended December 31, 2013, 2012 and 2011.  Approximately 1% of operating revenues were from foreign sources for each of the three years ended December 31, 2013, 2012 and 2011.  At December 31, 2013 and 2012, approximately 4% of long-lived assets were located in foreign countries.

NEE's segment information is as follows:

	2013										2012										2011
	FPL		NEER(a)			Corp. and Other			Total		FPL		NEER(a)			Corp. and Other			Total		FPL		NEER(a)			Corp. and Other			Total
											(millions)
Operating revenues	$	10,445	$	4,333		$	358		$	15,136	$	10,114	$	3,895		$	247		$	14,256	$	10,613	$	4,502		$	226		$	15,341
Operating expenses(b)	$	7,906	$	3,730		$	259		$	11,895	$	7,757	$	3,024		$	199		$	10,980	$	8,537	$	3,351		$	192		$	12,080
Interest expense	$	415	$	528		$	178		$	1,121	$	417	$	474		$	147		$	1,038	$	387	$	530		$	118		$	1,035
Interest income	$	6	$	19		$	53		$	78	$	6	$	20		$	60		$	86	$	3	$	23		$	53		$	79
Depreciation and amortization	$	1,159	$	949		$	55		$	2,163	$	659	$	818		$	41		$	1,518	$	798	$	736		$	33		$	1,567
Equity in earnings (losses) of equity method investees	$	—	$	26		$	(1	)	$	25	$	—	$	19		$	(6	)	$	13	$	—	$	55		$	—		$	55
Income tax expense (benefit)(c)(d)	$	835	$	(16	)	$	(18	)	$	801	$	752	$	(7	)	$	(53	)	$	692	$	654	$	(24	)	$	(101	)	$	529
Income (loss) from continuing operations(b)(e)	$	1,349	$	381		$	(10	)	$	1,720	$	1,240	$	687		$	(16	)	$	1,911	$	1,068	$	774		$	81		$	1,923
Net gain from discontinued operations, net of income taxes(f)	$	—	$	175		$	13		$	188	$	—	$	—		$	—		$	—	$	—	$	—		$	—		$	—
Net income (loss)(b)(e)	$	1,349	$	556		$	3		$	1,908	$	1,240	$	687		$	(16	)	$	1,911	$	1,068	$	774		$	81		$	1,923
Capital expenditures, independent power and other investments and nuclear fuel purchases	$	2,903	$	3,613		$	166		$	6,682	$	4,285	$	4,681		$	495		$	9,461	$	3,502	$	2,774		$	352		$	6,628
Property, plant and equipment	$	39,896	$	28,080		$	1,472		$	69,448	$	38,249	$	25,333		$	1,335		$	64,917	$	35,170	$	21,482		$	900		$	57,552
Accumulated depreciation and amortization	$	10,944	$	5,455		$	329		$	16,728	$	10,698	$	4,535		$	271		$	15,504	$	10,916	$	3,914		$	232		$	15,062
Total assets(g)	$	36,488	$	30,154		$	2,664		$	69,306	$	34,853	$	27,139		$	2,447		$	64,439	$	31,816	$	23,459		$	1,913		$	57,188
Investment in equity method investees	$	—	$	365		$	57		$	422	$	—	$	243		$	19		$	262	$	—	$	193		$	9		$	202

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(a) Interest expense allocated from NEECH is based on a deemed capital structure of 70% debt.  For this purpose, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual non-utility interest expense is included in Corporate and Other.

(b) NEER includes impairment charges of $300 million and other related charges ($342 million after-tax) in 2013 and impairment charges of $51 million ($31 million after-tax) in 2011.  See Note 4 - Nonrecurring Fair Value Measurements.

(c) NEER includes PTCs that were recognized based on its tax sharing agreement with NEE.  See Note 1 - Income Taxes.

(d) In 2011, Corporate and Other includes state deferred income tax benefits of approximately $64 million, net of federal income taxes, related to state tax law changes and an income tax benefit of $41 million related to the dissolution of a subsidiary.

(e) In 2011, NEER and Corporate and Other include an after-tax loss on sale of natural gas-fired generating assets of $92 million and $6 million, respectively.  See Note 4 - Nonrecurring Fair Value Measurements.

(f) See Note 6.

(g) In 2012, NEER includes assets held for sale of approximately $335 million.  See Note 6.