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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) $ 1,785 $ (693)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 822 885
Nuclear fuel and other amortization 71 75
Unrealized losses (gains) on marked to market derivative contracts – net (610) 1,634
Foreign currency transaction gains (2) (20)
Deferred income taxes 349 (14)
Cost recovery clauses and franchise fees 263 (12)
Equity in losses (earnings) of equity method investees (101) 453
Distributions of earnings from equity method investees 217 120
Losses (gains) on disposal of businesses, assets and investments – net 6 (41)
Recoverable storm-related costs (188) 0
Other – net (222) 54
Changes in operating assets and liabilities:    
Current assets 1,167 (183)
Noncurrent assets (90) (23)
Current liabilities (1,742) (302)
Noncurrent liabilities (52) 29
Net cash provided by operating activities 1,673 1,962
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures of FPL (2,241) (2,167)
Independent power and other investments of NEER (4,951) (2,593)
Nuclear fuel purchases (47) (20)
Other capital expenditures (6) (113)
Sale of independent power and other investments of NEER 305 184
Proceeds from sale or maturity of securities in special use funds 760 1,084
Purchases of securities in special use funds (1,613) (1,212)
Other – net (24) 144
Net cash used in investing activities (7,817) (4,693)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuances of long-term debt, including premiums and discounts 6,655 4,309
Retirements of long-term debt (2,601) (493)
Net change in commercial paper 1,135 373
Proceeds from other short-term debt 700 700
Repayments of other short-term debt (200) 0
Payments from (to) related parties under a cash sweep and credit support agreement – net (277) 78
Issuances of common stock/equity units – net 2,502 1
Dividends (930) (836)
Other – net (94) 21
Net cash provided by financing activities 6,890 4,153
Effects of currency translation on cash, cash equivalents and restricted cash 2 0
Net increase (decrease) in cash, cash equivalents and restricted cash 748 1,422
Cash, cash equivalents and restricted cash at beginning of period 3,441 1,316
Cash, cash equivalents and restricted cash at end of period 4,189 2,738
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest Paid, Excluding Capitalized Interest, Operating Activities 549 243
Income Taxes Paid (Received), Net 2 (40)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued property additions 5,522 4,954
Decrease in property, plant and equipment – net and contract liabilities (2023 activity, see Note 11) 81 551
Florida Power & Light Company    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) [1] 1,070 875
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 335 463
Nuclear fuel and other amortization 40 45
Deferred income taxes 220 191
Cost recovery clauses and franchise fees 263 (12)
Recoverable storm-related costs (188) 0
Other – net 5 (7)
Changes in operating assets and liabilities:    
Current assets 172 (54)
Noncurrent assets (54) (26)
Current liabilities (200) 11
Noncurrent liabilities 16 45
Net cash provided by operating activities 1,679 1,531
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (2,241) (2,167)
Nuclear fuel purchases (33) (5)
Proceeds from sale or maturity of securities in special use funds 486 693
Purchases of securities in special use funds (523) (722)
Other – net (16) (15)
Net cash used in investing activities (2,327) (2,216)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuances of long-term debt, including premiums and discounts 2,494 2,498
Retirements of long-term debt (15) 0
Net change in commercial paper (1,709) 198
Dividends 0 (2,000)
Other – net (39) (22)
Net cash provided by financing activities 731 674
Net increase (decrease) in cash, cash equivalents and restricted cash 83 (11)
Cash, cash equivalents and restricted cash at beginning of period 58 108
Cash, cash equivalents and restricted cash at end of period 141 97
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest Paid, Excluding Capitalized Interest, Operating Activities 191 109
Income Taxes Paid (Received), Net 45 28
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued property additions $ 804 $ 802
[1] FPL's comprehensive income is the same as reported net income.