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Non-Derivative Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Financial assets and liabilities and other fair value measurements NEE's and FPL's financial assets and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:
 September 30, 2022
 Level 1Level 2 Level 3Total
 (millions)
Assets:     
Cash equivalents and restricted cash equivalents:(a)
     
NEE – equity securities
$1,816 $— $— $1,816 
FPL – equity securities
$1,189 $— $— $1,189 
Special use funds:(b)
 
NEE: 
Equity securities$1,932 $2,215 
(c)
$— $4,147 
U.S. Government and municipal bonds$642 $62 $— $704 
Corporate debt securities$6 $760 $— $766 
Asset-backed securities$— $608 $— $608 
Other debt securities$— $19 $— $19 
FPL:     
Equity securities$710 $2,015 
(c)
$— $2,725 
U.S. Government and municipal bonds$520 $32 $— $552 
Corporate debt securities$5 $576 $— $581 
Asset-backed securities$— $475 $— $475 
Other debt securities$— $9 $— $9 
Other investments:(d)
     
NEE:     
Equity securities$31 $1 $— $32 
Debt securities$125 $191 $124 $440 
FPL – equity securities
$10 $— $— $10 

———————————————
(a)Includes restricted cash equivalents of approximately $55 million ($33 million for FPL) in current other assets on the condensed consolidated balance sheets.
(b)Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at Other than Fair Value below.
(c)Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.
(d)Included in noncurrent other assets on NEE's and FPL's condensed consolidated balance sheets.
 December 31, 2021
 Level 1Level 2 Level 3Total
 (millions)
Assets:     
Cash equivalents and restricted cash equivalents:(a)
     
NEE – equity securities
$176 $— $— $176 
FPL – equity securities
$58 $— $— $58 
Special use funds:(b)
 
NEE: 
Equity securities$2,538 $2,973 
(c)
$— $5,511 
U.S. Government and municipal bonds$770 $75 $— $845 
Corporate debt securities$7 $955 $— $962 
Asset-backed securities$— $663 $— $663 
Other debt securities$2 $33 $— $35 
FPL: 
Equity securities$862 $2,690 
(c)
$— $3,552 
U.S. Government and municipal bonds$624 $44 $— $668 
Corporate debt securities$6 $720 $— $726 
Asset-backed securities$— $515 $— $515 
Other debt securities$2 $23 $— $25 
Other investments:(d)
     
NEE:     
Equity securities$70 $2 $— $72 
Debt securities$111 $162 $12 $285 
FPL – equity securities
$13 $— $— $13 
———————————————
(a)Includes restricted cash equivalents of approximately $56 million ($53 million for FPL) in current other assets on the condensed consolidated balance sheets.
(b)Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at Other than Fair Value below.
(c)Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.
(d)Included in noncurrent other assets on NEE's and FPL's condensed consolidated balance sheets.
Significant unobservable inputs used in valuation of contracts categorized as Level 3
The significant unobservable inputs used in the valuation of NEE's commodity contracts categorized as Level 3 of the fair value hierarchy at September 30, 2022 are as follows:

Fair Value atValuationSignificantWeighted-
Transaction TypeSeptember 30, 2022Technique(s)Unobservable InputsRange
average(a)
AssetsLiabilities
(millions)
Forward contracts – power
$178 $619 Discounted cash flowForward price (per MWh)$(7)—$461$51
Forward contracts – gas
330 323 Discounted cash flowForward price (per MMBtu)$3—$35$5
Forward contracts – congestion
50 12 Discounted cash flowForward price (per MWh)$(24)—$25$1
Options – power
79 1 Option modelsImplied correlations42%—89%56%
Implied volatilities20%—225%57%
Options – primarily gas
1,368 1,271 Option modelsImplied correlations42%—89%56%
Implied volatilities24%—192%63%
Full requirements and unit contingent contracts
129 1,583 Discounted cash flowForward price (per MWh)$12—$512$99
Customer migration rate(b)
—%—122%6%
Forward contracts – other
146 147 
Total$2,280 $3,956 
———————————————
(a)Unobservable inputs were weighted by volume.
(b)Applies only to full requirements contracts.
Fair Value, by Balance Sheet Grouping The carrying amounts of commercial paper and other short-term debt approximate their fair values. The carrying amounts and estimated fair values of other financial instruments recorded at other than fair value are as follows:
 September 30, 2022 December 31, 2021 
 Carrying
Amount		 Estimated
Fair Value		 Carrying
Amount		 Estimated
Fair Value		 
 (millions) 
NEE:  
Special use funds(a)
$951 $951 $906 $907 
Other receivables(b)
$110 $110 $26 $26 
Long-term debt, including current portion$61,962 $57,029 
(c)
$52,745 

$57,290 
(c)
FPL:      
Special use funds(a)
$706 $706 $672 $672 
Long-term debt, including current portion$20,998 $19,028 
(c)
$18,510 $21,379 
(c)
———————————————
(a)Primarily represents investments accounted for under the equity method and loans not measured at fair value on a recurring basis (Level 2).
(b)Included in noncurrent other assets on NEE's condensed consolidated balance sheets (primarily Level 3).
(c)At September 30, 2022 and December 31, 2021, substantially all is Level 2 for NEE and FPL.
Unrealized Gains (Losses) Recognized On Equity Securities Still Held at The Reporting Date
Unrealized gains (losses) recognized on equity securities held at September 30, 2022 and 2021 are as follows:
 NEEFPL
 Three Months Ended September 30,Nine Months Ended September 30,Three Months Ended September 30,Nine Months Ended September 30,
 20222021202220212022202120222021
 (millions)
Unrealized gains (losses)$(222)$(25)$(1,317)$565 $(135)$(13)$(857)$375 
Gains and Losses on Available-for-sale Debt Securities
Realized gains and losses and proceeds from the sale or maturity of available for sale debt securities are as follows:
 NEEFPL
 Three Months Ended September 30,Nine Months Ended September 30,Three Months Ended September 30,Nine Months Ended September 30,
 20222021202220212022202120222021
 (millions)
Realized gains$8 $17 $26 $61 $6 $14 $20 $46 
Realized losses$41 $14 $100 $58 $36 $11 $79 $46 
Proceeds from sale or maturity of securities$681 $245 $1,901 $1,303 $324 $191 $1,001 $988 

The unrealized gains and unrealized losses on available for sale debt securities and the fair value of available for sale debt securities in an unrealized loss position are as follows:
 NEEFPL
 September 30, 2022December 31, 2021September 30, 2022December 31, 2021
 (millions)
Unrealized gains$2 $76 $2 $63 
Unrealized losses(a)
$342 $19 $239 $15 
Fair value$2,378 $1,100 $1,598 $857 
———————————————
(a)    Unrealized losses on available for sale debt securities in an unrealized loss position for greater than twelve months at September 30, 2022 and December 31, 2021 were not material to NEE or FPL.