XML 72 R37.htm IDEA: XBRL DOCUMENT v3.20.4
Equity (Tables)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted The reconciliation of NEE's basic and diluted earnings per share attributable to NEE is as follows:
 Years Ended December 31,
 202020192018
 (millions, except per share amounts)
Numerator:
Net income attributable to NEE - basic
$2,919 $3,769 $6,638 
Adjustment for the impact of dilutive securities at NEP(a)
— — (19)
Net income attributable to NEE - assuming dilution
$2,919 $3,769 $6,619 
Denominator:   
Weighted-average number of common shares outstanding - basic
1,959.0 1,927.9 1,892.8 
Equity units, stock options, performance share awards and restricted stock(b)
9.8 14.0 15.1 
Weighted-average number of common shares outstanding - assuming dilution1,968.8 1,941.9 1,907.9 
Earnings per share attributable to NEE:  
Basic$1.49 $1.95 $3.51 
Assuming dilution$1.48 $1.94 $3.47 
______________________
(a)The 2018 adjustment is related to both the NEP Series A convertible preferred units and the NEP senior unsecured convertible notes issued in 2017 (see Potentially Dilutive Securities at NEP below).
(b)Calculated using the treasury stock method. Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.
Nonvested Awards Activity
The activity in restricted stock and performance share awards for the year ended December 31, 2020 was as follows:
SharesWeighted-
Average
Grant Date
Fair Value
Per Share
Restricted Stock:
Nonvested balance, January 1, 20201,980,592 $39.93 
Granted631,186 $68.25 
Vested(870,780)$39.58 
Forfeited(66,756)$49.21 
Nonvested balance, December 31, 20201,674,242 $50.26 
Performance Share Awards:  
Nonvested balance, January 1, 20202,680,584 $35.61 
Granted1,535,436 $46.09 
Vested(2,081,264)$32.93 
Forfeited(196,148)$44.85 
Nonvested balance, December 31, 20201,938,608 $47.46 
Assumptions used to estimate fair value of options The fair value of the options is estimated on the date of the grant using the Black-Scholes option-pricing model and based on the following assumptions:
 202020192018
Expected volatility(a)
14.63 – 16.31%14.20 - 14.31%14.41%
Expected dividends2.50 – 2.72%2.85 - 2.93%3.05%
Expected term (years)(b)
7.07.07.0
Risk-free rate0.49 – 1.52%2.24 - 2.54%2.83%
______________________
(a)Based on historical experience.
(b)Based on historical exercise and post-vesting cancellation experience adjusted for outstanding awards.
Stock option activity
Option activity for the year ended December 31, 2020 was as follows:
 Shares
Underlying
Options		Weighted-
Average
Exercise
Price
Per Share		Weighted-
Average
Remaining
Contractual
Term
(years)		Aggregate
Intrinsic
Value
(millions)
Balance, January 1, 20209,666,752 $30.77   
Granted1,519,712 $68.76   
Exercised(1,513,324)$64.53   
Forfeited(54,936)$59.18   
Balance, December 31, 20209,618,204 $38.32 6.2$373 
Exercisable, December 31, 20206,382,356 $29.69 5.1$303 
Schedule of Accumulated Other Comprehensive Income (Loss) The components of AOCI, net of tax, are as follows:
Accumulated Other Comprehensive Income (Loss)
Net Unrealized
Gains (Losses)
on Cash Flow
Hedges		Net Unrealized
Gains (Losses)
on Available for
Sale Securities		Defined Benefit
Pension and
Other Benefits
Plans		Net Unrealized
Gains (Losses)
on Foreign
Currency
Translation		Other
Comprehensive
Income (Loss)
Related to Equity
Method Investees		Total
(millions)
Balances, December 31, 2017$(77)$316 $(39)$(69)$(20)$111 
Other comprehensive income (loss) before reclassifications— (12)(14)(31)4 (53)
Amounts reclassified from AOCI
26 
(a)
1 
(b)
(3)
(c)
— — 24 
Net other comprehensive income (loss)26 (11)(17)(31)4 (29)
Impact of NEP deconsolidation(d)
3 — — 37 18 58 
Adoption of accounting standards updates(7)(312)(9)— — (328)
Balances, December 31, 2018(55)(7)(65)(63)2 (188)
Other comprehensive income (loss) before reclassifications
— 20 (46)22 1 (3)
Amounts reclassified from AOCI
29 
(a)
(2)
(b)
(3)
(c)
— — 24 
Net other comprehensive income (loss)29 18 (49)22 1 21 
Less other comprehensive income attributable to noncontrolling interests
— — — 1 — 1 
Acquisition of Gulf Power (see Note 6)(1)— — — — (1)
Balances, December 31, 2019(27)11 (114)(42)3 (169)
Other comprehensive income before reclassifications— 12 37 13 1 63 
Amounts reclassified from AOCI
12 
(a)
(3)
(b)
2 
(c)
— — 11 
Net other comprehensive income12 9 39 13 1 74 
Less other comprehensive income attributable to noncontrolling interests
— — — 7 — 7 
Impact of disposal of a business23 
(e)
— — (13)
(e)
— 10 
Balances, December 31, 2020$8 $20 $(75)$(49)$4 $(92)
Attributable to noncontrolling interests$— $— $— $(8)$— $(8)
Attributable to NEE$8 $20 $(75)$(41)$4 $(84)
————————————
(a)Reclassified to interest expense in NEE's consolidated statements of income. See Note 3 - Income Statement Impact of Derivative Instruments.
(b)Reclassified to gains on disposal of investments and other property - net in NEE's consolidated statements of income.
(c)Reclassified to other net periodic benefit income in NEE's consolidated statements of income.
(d)Reclassified and included in gain on NEP deconsolidation. See Note 1 - Basis of Presentation.
(e)Reclassified to gains on disposal of businesses/assets - net and interest expense in NEE's consolidated statements of income. See Note 3 - Income Statement Impact of Derivative Instruments and Note 1 - Disposal of Businesses/Assets.