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Summarized Financial Information of Capital Holdings
 3 Months Ended
Mar. 31, 2014
Summarized Financial Information [Abstract]  
Summarized Financial Information of Capital Holdings
11.  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,
 
2014
 
2013(a)
 
NEE
(Guarantor)
 
NEECH
 
Other(b)
 
NEE
Consoli-
dated
 
NEE
(Guarantor)
 
NEECH
 
Other(b)
 
NEE
Consoli-
dated
 
 
 
 
 
 
 
(millions)
 
 
 
 
 
 
Operating revenues
$
—

 
$
1,142

 
$
2,532

 
$
3,674

 
$
—

 
$
1,094

 
$
2,185

 
$
3,279

Operating expenses
(4
)
 
(1,032
)
 
(1,900
)
 
(2,936
)
 
(3
)
 
(1,200
)
 
(1,642
)
 
(2,845
)
Interest expense
(2
)
 
(216
)
 
(101
)
 
(319
)
 
(2
)
 
(170
)
 
(100
)
 
(272
)
Equity in earnings of subsidiaries
435

 
—

 
(435
)
 
—

 
249

 
—

 
(249
)
 
—

Other income (deductions) - net
1

 
148

 
15

 
164

 
(2
)
 
5

 
20

 
23

Income (loss) from continuing operations before income taxes
430

 
42

 
111

 
583

 
242

 
(271
)
 
214

 
185

Income tax expense (benefit)
—

 
(46
)
 
199

 
153

 
(15
)
 
(16
)
 
175

 
144

Income (loss) from continuing operations
430


88


(88
)

430


257


(255
)

39


41

Gain from discontinued operations, net of income taxes
—

 
—

 
—

 
—

 
15

 
216

 
—

 
231

Net income (loss)
$
430

 
$
88

 
$
(88
)
 
$
430

 
$
272

 
$
(39
)
 
$
39

 
$
272


————————————
(a)  Certain amounts were restated to conform to current year's presentation.  See Note 3 - Nonrecurring Fair Value Measurements.
(b)  Represents FPL and consolidating adjustments.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Condensed Consolidating Statements of Comprehensive Income

 
Three Months Ended March 31,
 
2014
 
2013
 
NEE
(Guarantor)
 
NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
NEE
(Guarantor)
 
NEECH
 
Other(a)
 
NEE
Consoli-
dated
 
 
 
 
 
 
 
(millions)
 
 
 
 
 
 
Comprehensive income (loss)
$
395

 
$
48

 
$
(48
)
 
$
395

 
$
391

 
$
73

 
$
(73
)
 
$
391

————————————
(a)
Represents FPL and consolidating adjustments.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Balance Sheets

 
March 31, 2014
 
December 31, 2013
 
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
$
31

 
$
29,634

 
$
40,702

 
$
70,367

 
$
31

 
$
29,511

 
$
39,906

 
$
69,448

Less accumulated depreciation and amortization
(11
)
 
(5,965
)
 
(11,085
)
 
(17,061
)
 
(10
)
 
(5,774
)
 
(10,944
)
 
(16,728
)
Total property, plant and equipment - net
20

 
23,669

 
29,617

 
53,306

 
21

 
23,737

 
28,962

 
52,720

CURRENT ASSETS
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
5

 
445

 
38

 
488

 
—

 
418

 
20

 
438

Receivables
121

 
2,107

 
323

 
2,551

 
78

 
1,542

 
669

 
2,289

Other
210

 
1,623

 
1,269

 
3,102

 
6

 
1,814

 
1,295

 
3,115

Total current assets
336

 
4,175

 
1,630

 
6,141

 
84

 
3,774

 
1,984

 
5,842

OTHER ASSETS
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Investment in subsidiaries
17,962

 
—

 
(17,962
)
 
—

 
17,910

 
—

 
(17,910
)
 
—

Other
764

 
5,129

 
4,991

 
10,884

 
694

 
5,129

 
4,921

 
10,744

Total other assets
18,726

 
5,129

 
(12,971
)
 
10,884

 
18,604

 
5,129

 
(12,989
)
 
10,744

TOTAL ASSETS
$
19,082

 
$
32,973

 
$
18,276

 
$
70,331

 
$
18,709

 
$
32,640

 
$
17,957

 
$
69,306

CAPITALIZATION
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Common shareholders' equity
$
18,160

 
$
4,432

 
$
(4,432
)
 
$
18,160

 
$
18,040

 
$
4,816

 
$
(4,816
)
 
$
18,040

Long-term debt
—

 
15,381

 
8,443

 
23,824

 
—

 
15,496

 
8,473

 
23,969

Total capitalization
18,160

 
19,813

 
4,011

 
41,984

 
18,040

 
20,312

 
3,657

 
42,009

CURRENT LIABILITIES
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Debt due within one year
—

 
5,009

 
682

 
5,691

 
—

 
3,896

 
561

 
4,457

Accounts payable
—

 
758

 
692

 
1,450

 
—

 
589

 
611

 
1,200

Other
390

 
1,864

 
897

 
3,151

 
199

 
2,203

 
1,130

 
3,532

Total current liabilities
390

 
7,631

 
2,271

 
10,292

 
199

 
6,688

 
2,302

 
9,189

OTHER LIABILITIES AND DEFERRED CREDITS
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Asset retirement obligations
—

 
575

 
1,302

 
1,877

 
—

 
565

 
1,285

 
1,850

Deferred income taxes
251

 
1,982

 
6,073

 
8,306

 
166

 
1,963

 
6,015

 
8,144

Other
281

 
2,972

 
4,619

 
7,872

 
304

 
3,112

 
4,698

 
8,114

Total other liabilities and deferred credits
532

 
5,529

 
11,994

 
18,055

 
470

 
5,640

 
11,998

 
18,108

COMMITMENTS AND CONTINGENCIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL CAPITALIZATION AND LIABILITIES
$
19,082

 
$
32,973

 
$
18,276

 
$
70,331

 
$
18,709

 
$
32,640

 
$
17,957

 
$
69,306

————————————
(a)
Represents FPL and consolidating adjustments.
Condensed Consolidating Statements of Cash Flows

 
Three Months Ended March 31,
 
2014
 
2013
 
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
$
428

 
$
147

 
$
442

 
$
1,017

 
$
350

 
$
295

 
$
437

 
$
1,082

CASH FLOWS FROM INVESTING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

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

 
(798
)
 
(1,068
)
 
(1,866
)
 
—

 
(1,046
)
 
(821
)
 
(1,867
)
Capital contribution to FPL
(100
)
 
—

 
100

 
—

 
—

 
—

 
—

 
—

Cash grants under the Recovery Act
—

 
—

 
—

 
—

 
—

 
170

 
—

 
170

Change in loan proceeds restricted for construction
—

 
(28
)
 
—

 
(28
)
 
—

 
112

 
—

 
112

Other - net
—

 
58

 
(6
)
 
52

 
(52
)
 
29

 
30

 
7

Net cash used in investing activities
(100
)
 
(768
)
 
(974
)
 
(1,842
)
 
(52
)
 
(735
)
 
(791
)
 
(1,578
)
CASH FLOWS FROM FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Issuances of long-term debt
—

 
655

 
—

 
655

 
—

 
623

 
—

 
623

Retirements of long-term debt
—

 
(688
)
 
(29
)
 
(717
)
 
—

 
(496
)
 
(427
)
 
(923
)
Net change in short-term debt
—

 
1,059

 
120

 
1,179

 
—

 
166

 
800

 
966

Dividends on common stock
(315
)
 
—

 
—

 
(315
)
 
(279
)
 
—

 
—

 
(279
)
   Other - net
(8
)
 
(378
)
 
459

 
73

 
(21
)
 
39

 
(23
)
 
(5
)
Net cash provided by (used in) financing activities
(323
)
 
648

 
550

 
875

 
(300
)
 
332

 
350

 
382

Net increase (decrease) in cash and cash equivalents
5

 
27

 
18

 
50

 
(2
)
 
(108
)
 
(4
)
 
(114
)
Cash and cash equivalents at beginning of period
—

 
418

 
20

 
438

 
2

 
287

 
40

 
329

Cash and cash equivalents at end of period
$
5

 
$
445

 
$
38

 
$
488

 
$
—

 
$
179

 
$
36

 
$
215

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