Investments in Partnerships and Joint Ventures

12 Months Ended

Dec. 31, 2014

Investments in Partnerships and Joint Ventures [Abstract]

Investments in Partnerships and Joint Ventures

Investments in Partnerships and Joint Ventures

Certain subsidiaries of NEE, primarily NEER, have non-controlling non-majority owned interests in various partnerships and joint ventures, essentially all of which own electric generating facilities. At December 31, 2014 and 2013, NEE's investments in partnerships and joint ventures totaled approximately $663 million and $422 million, respectively, which are included in other investments on NEE's consolidated balance sheets. NEER's interest in these partnerships and joint ventures range from approximately 29% to 50%. At December 31, 2014 and 2013, the principal entities included in NEER's investments in partnerships and joint ventures were Desert Sunlight Investment Holdings, LLC and Northeast Energy, LP.

Summarized combined information for these principal entities is as follows:

	2014			2013
	(millions)
Net income	$	171		$	37
Total assets	$	2,636		$	1,955
Total liabilities	$	1,645		$	1,299
Partners'/members' equity	$	991		$	656
NEER's share of underlying equity in the principal entities	$	495		$	328
Difference between investment carrying amount and underlying equity in net assets(a)	(4		)	(5		)
NEER's investment carrying amount for the principal entities	$	491		$	323

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(a) The majority of the difference between the investment carrying amount and the underlying equity in net assets is being amortized over the remaining life of the investee's assets.

In 2004, a trust created by NEE sold $300 million of 5 7/8% preferred trust securities to the public and $9 million of common trust securities to NEE. The trust is an unconsolidated 100%-owned finance subsidiary. The proceeds from the sale of the preferred and common trust securities were used to buy 5 7/8% junior subordinated debentures maturing in March 2044 from NEECH. NEE has fully and unconditionally guaranteed the preferred trust securities and the junior subordinated debentures.