Summarized Financial Information of NEECH (Tables)

9 Months Ended

Sep. 30, 2018

Summarized Financial Information [Abstract]

Condensed Consolidating Statements of Income



	Three Months Ended September 30,
	2018												2017
	NEE (Guarantor)			NEECH			Other^(a)			NEE Consoli- dated			NEE (Guarantor)^(b)			NEECH			Other^(a)			NEE Consoli- dated^(b)
										(millions)
Operating revenues	$	—		$	1,054		$	3,364		$	4,418		$	—		$	1,365		$	3,443		$	4,808
Operating expenses - net	(46		)	(941		)	(2,461		)	(3,448		)	(51		)	(982		)	(2,424		)	(3,457		)
Interest expense	(5		)	(26		)	(136		)	(167		)	(1		)	(259		)	(121		)	(381		)
Equity in earnings of subsidiaries	963			—			(963		)	—			830			—			(830		)	—
Equity in earnings of equity method investees	—			122			—			122			—			56			—			56
Other income - net	37			82			25			144			48			125			21			194
Income (loss) before income taxes	949			291			(171		)	1,069			826			305			89			1,220
Income tax expense (benefit)	(58		)	52			132			126			(21		)	30			355			364
Net income (loss)	1,007			239			(303		)	943			847			275			(266		)	856
Net (income) loss attributable to noncontrolling interests	—			64			—			64			—			(9		)	—			(9		)
Net income (loss) attributable to NEE	$	1,007		$	303		$	(303	)	$	1,007		$	847		$	266		$	(266	)	$	847



	Nine Months Ended September 30,
	2018												2017
	NEE (Guarantor)			NEECH			Other^(a)			NEE Consoli- dated			NEE (Guarantor)^(b)			NEECH			Other^(a)			NEE Consoli- dated^(b)
										(millions)
Operating revenues	$	—		$	3,526		$	8,825		$	12,351		$	—		$	4,154		$	9,031		$	13,185
Operating expenses - net	(159		)	(2,715		)	(6,298		)	(9,172		)	(114		)	(1,806		)	(6,276		)	(8,196		)
Interest expense	(16		)	(360		)	(411		)	(787		)	(2		)	(809		)	(360		)	(1,171		)
Equity in earnings of subsidiaries	6,132			—			(6,132		)	—			3,179			—			(3,179		)	—
Equity in earnings of equity method investees	—			372			—			372			—			153			—			153
Gain on NEP deconsolidation	—			3,935			—			3,935			—			—			—			—
Other income - net	138			174			69			381			102			477			31			610
Income (loss) before income taxes	6,095			4,932			(3,947		)	7,080			3,165			2,169			(753		)	4,581
Income tax expense (benefit)	(134		)	1,319			420			1,605			(58		)	468			919			1,329
Net income (loss)	6,229			3,613			(4,367		)	5,475			3,223			1,701			(1,672		)	3,252
Net (income) loss attributable to noncontrolling interests	—			754			—			754			—			(29		)	—			(29		)
Net income (loss) attributable to NEE	$	6,229		$	4,367		$	(4,367	)	$	6,229		$	3,223		$	1,672		$	(1,672	)	$	3,223

———————————————


(a)	Represents primarily FPL and consolidating adjustments.


(b)	Prior period amounts have been retrospectively adjusted as discussed in Note 3 - Amendments to Presentation of Retirement Benefits.

Condensed Consolidating Statements of Comprehensive Income



	Three Months Ended September 30,
	2018									2017
	NEE (Guarantor)		NEECH		Other^(a)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other^(a)			NEE Consoli- dated
								(millions)
Comprehensive income (loss) attributable to NEE	$	1,022	$	319	$	(319	)	$	1,022	$	892	$	312	$	(312	)	$	892



	Nine Months Ended September 30,
	2018									2017
	NEE (Guarantor)		NEECH		Other^(a)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other^(a)			NEE Consoli- dated
								(millions)
Comprehensive income (loss) attributable to NEE	$	6,288	$	4,430	$	(4,430	)	$	6,288	$	3,341	$	1,784	$	(1,784	)	$	3,341

———————————————


(a)	Represents primarily FPL and consolidating adjustments.

Condensed Consolidating Balance Sheets



	September 30, 2018												December 31, 2017
	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	$	199		$	35,648		$	54,478		$	90,325		$	20		$	41,782		$	51,981		$	93,783
Accumulated depreciation and amortization	(49		)	(8,378		)	(13,326		)	(21,753		)	(15		)	(8,551		)	(12,801		)	(21,367		)
Total property, plant and equipment - net	150			27,270			41,152			68,572			5			33,231			39,180			72,416
CURRENT ASSETS
Cash and cash equivalents	1			391			105			497			1			1,679			34			1,714
Receivables	474			1,660			985			3,119			442			1,633			662			2,737
Other	5			3,402			1,326			4,733			5			1,283			1,418			2,706
Total current assets	480			5,453			2,416			8,349			448			4,595			2,114			7,157
OTHER ASSETS
Investment in subsidiaries	33,569			—			(33,569		)	—			27,825			—			(27,825		)	—
Investment in equity method investees	—			6,493			—			6,493			—			2,321			—			2,321
Other	666			6,339			8,184			15,189			591			7,620			7,722			15,933
Total other assets	34,235			12,832			(25,385		)	21,682			28,416			9,941			(20,103		)	18,254
TOTAL ASSETS	$	34,865		$	45,555		$	18,183		$	98,603		$	28,869		$	47,767		$	21,191		$	97,827
CAPITALIZATION
Common shareholders' equity	$	34,252		$	12,453		$	(12,453	)	$	34,252		$	28,208		$	10,745		$	(10,745	)	$	28,208
Noncontrolling interests	—			3,086			—			3,086			—			1,290			—			1,290
Long-term debt	—			15,453			11,595			27,048			—			20,227			11,236			31,463
Total capitalization	34,252			30,992			(858		)	64,386			28,208			32,262			491			60,961
CURRENT LIABILITIES
Debt due within one year	—			5,239			300			5,539			—			1,215			2,403			3,618
Accounts payable	27			2,302			671			3,000			3			2,427			805			3,235
Other	322			2,043			1,903			4,268			325			2,073			1,981			4,379
Total current liabilities	349			9,584			2,874			12,807			328			5,715			5,189			11,232
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	—			943			2,122			3,065			—			984			2,047			3,031
Deferred income taxes	(100		)	2,757			4,763			7,420			(82		)	1,247			4,589			5,754
Other	364			1,279			9,282			10,925			415			7,559			8,875			16,849
Total other liabilities and deferred credits	264			4,979			16,167			21,410			333			9,790			15,511			25,634
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	34,865		$	45,555		$	18,183		$	98,603		$	28,869		$	47,767		$	21,191		$	97,827

———————————————


(a)	Represents primarily FPL and consolidating adjustments.

Condensed Cash Flow Statement

Condensed Consolidating Statements of Cash Flows



	Nine Months Ended September 30,
	2018												2017^(a)
	NEE (Guaran- tor)			NEECH			Other^(b)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other^(b)			NEE Consoli- dated
										(millions)
NET CASH PROVIDED BY OPERATING ACTIVITIES	$	2,839		$	1,578		$	808		$	5,225		$	1,464		$	1,937		$	1,928		$	5,329
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases	(124		)	(5,536		)	(3,597		)	(9,257		)	—			(4,808		)	(3,779		)	(8,587		)
Proceeds from sale of the fiber-optic telecommunications business	—			—			—			—			—			1,482			—			1,482
Capital contributions from NEE	(1,798		)	—			1,798			—			(46		)	—			46			—
Sale of independent power and other investments of NEER	—			327			—			327			—			159			—			159
Proceeds from sale or maturity of securities in special use funds and other investments	—			955			1,624			2,579			—			819			1,240			2,059
Purchases of securities in special use funds and other investments	—			(1,074		)	(1,786		)	(2,860		)	—			(827		)	(1,319		)	(2,146		)
Distributions from equity method investees	—			637			—			637			—			—			7			7
Other - net	12			(203		)	204			13			7			177			(9		)	175
Net cash used in investing activities	(1,910		)	(4,894		)	(1,757		)	(8,561		)	(39		)	(2,998		)	(3,814		)	(6,851		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	—			2,434			1,594			4,028			—			4,995			201			5,196
Retirements of long-term debt	—			(1,014		)	(1,579		)	(2,593		)	—			(3,819		)	(73		)	(3,892		)
Proceeds from differential membership investors	—			103			—			103			—			340			—			340
Net change in commercial paper	—			2,255			(1,482		)	773			—			995			811			1,806
Proceeds from other short-term debt	—			625			—			625			—			—			200			200
Repayments of other short-term debt	—			(200		)	(250		)	(450		)	—			—			(2		)	(2		)
Payments from related parties under CSCS agreement - net	—			720			—			720			—			—			—			—
Issuances of common stock - net	714			—			—			714			36			—			—			36
Dividends on common stock	(1,570		)	—			—			(1,570		)	(1,382		)	—			—			(1,382		)
Contributions from (dividends to) NEE	—			(2,727		)	2,727			—			—			(722		)	722			—
Other - net	(73		)	(172		)	(30		)	(275		)	(79		)	(457		)	(4		)	(540		)
Net cash provided by (used in) financing activities	(929		)	2,024			980			2,075			(1,425		)	1,332			1,855			1,762
Effects of currency translation on cash, cash equivalents and restricted cash	—			(1		)	—			(1		)	—			—			—			—
Net increase (decrease) in cash, cash equivalents and restricted cash	—			(1,293		)	31			(1,262		)	—			271			(31		)	240
Cash, cash equivalents and restricted cash at beginning of period	1			1,807			175			1,983			1			1,375			153			1,529
Cash, cash equivalents and restricted cash at end of period	$	1		$	514		$	206		$	721		$	1		$	1,646		$	122		$	1,769

———————————————


(a)	Prior period amounts have been retrospectively adjusted as discussed in Note 11 - Restricted Cash.


(b)	Represents primarily FPL and consolidating adjustments.