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Commission File Number | Exact name of registrants as specified in their charters, address of principal executive offices and registrants' telephone number | IRS Employer Identification Number | ||||||||||||
Registrants | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |||||||||||||||||
NextEra Energy, Inc. | ||||||||||||||||||||
Florida Power & Light Company | None |
Exhibit Number | Description | NextEra Energy, Inc. | Florida Power & Light Company | |||||||||||||||||
99 | x | x | ||||||||||||||||||
101 | Interactive data files for this Form 8-K formatted in Inline XBRL | x | x | |||||||||||||||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | x | x |
JAMES M. MAY | ||||||||
James M. May Vice President, Controller and Chief Accounting Officer |
KEITH FERGUSON | ||||||||
Keith Ferguson Vice President, Accounting and Controller |
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NextEra Energy, Inc. Media Line: 561-694-4442 Oct. 24, 2023 FOR IMMEDIATE RELEASE |
Preliminary | ||||||||||||||||||||||||||
Three Months Ended September 30, 2023 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
Operating Revenues | $ | 5,475 | $ | 1,669 | $ | 28 | $ | 7,172 | ||||||||||||||||||
Operating Expenses | ||||||||||||||||||||||||||
Fuel, purchased power and interchange | 1,339 | 240 | (25) | 1,554 | ||||||||||||||||||||||
Other operations and maintenance | 456 | 636 | 104 | 1,196 | ||||||||||||||||||||||
Depreciation and amortization | 1,424 | 513 | 20 | 1,957 | ||||||||||||||||||||||
Taxes other than income taxes and other – net | 551 | 81 | 4 | 636 | ||||||||||||||||||||||
Total operating expenses – net | 3,770 | 1,470 | 103 | 5,343 | ||||||||||||||||||||||
Gains (losses) on disposal of businesses/assets – net | — | 8 | (1) | 7 | ||||||||||||||||||||||
Operating Income (Loss) | 1,705 | 207 | (76) | 1,836 | ||||||||||||||||||||||
Other Income (Deductions) | ||||||||||||||||||||||||||
Interest expense | (286) | (90) | 350 | (26) | ||||||||||||||||||||||
Equity in earnings (losses) of equity method investees | — | (954) | — | (954) | ||||||||||||||||||||||
Allowance for equity funds used during construction | 40 | 3 | — | 43 | ||||||||||||||||||||||
Gains on disposal of investments and other property – net | — | 29 | — | 29 | ||||||||||||||||||||||
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net | — | (98) | — | (98) | ||||||||||||||||||||||
Other net periodic benefit income | — | — | 62 | 62 | ||||||||||||||||||||||
Other – net | 10 | 56 | 15 | 81 | ||||||||||||||||||||||
Total other income (deductions) – net | (236) | (1,054) | 427 | (863) | ||||||||||||||||||||||
Income (Loss) before Income Taxes | 1,469 | (847) | 351 | 973 | ||||||||||||||||||||||
Income Tax Expense (Benefit) | 286 | (417) | 85 | (46) | ||||||||||||||||||||||
Net Income (Loss) | 1,183 | (430) | 266 | 1,019 | ||||||||||||||||||||||
Net Loss Attributable to Noncontrolling Interests | — | 200 | — | 200 | ||||||||||||||||||||||
Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 1,183 | $ | (230) | $ | 266 | $ | 1,219 | ||||||||||||||||||
Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss): | ||||||||||||||||||||||||||
Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 1,183 | $ | (230) | $ | 266 | $ | 1,219 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | — | 165 | (549) | (384) | ||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | 97 | — | 97 | ||||||||||||||||||||||
Differential membership interests – related | — | 14 | — | 14 | ||||||||||||||||||||||
NEP investment gains – net | — | 1,210 | — | 1,210 | ||||||||||||||||||||||
Less related income tax expense (benefit) | — | (374) | 138 | (236) | ||||||||||||||||||||||
Adjusted Earnings (Loss) | $ | 1,183 | $ | 882 | $ | (145) | $ | 1,920 | ||||||||||||||||||
Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution) | $ | 0.58 | $ | (0.11) | $ | 0.13 | $ | 0.60 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | — | 0.08 | (0.27) | (0.19) | ||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | 0.05 | — | 0.05 | ||||||||||||||||||||||
Differential membership interests – related | — | 0.01 | — | 0.01 | ||||||||||||||||||||||
NEP investment gains – net | — | 0.59 | — | 0.59 | ||||||||||||||||||||||
Less related income tax expense (benefit) | — | (0.19) | 0.07 | (0.12) | ||||||||||||||||||||||
Adjusted Earnings (Loss) Per Share | $ | 0.58 | $ | 0.43 | $ | (0.07) | $ | 0.94 | ||||||||||||||||||
Weighted-average shares outstanding (assuming dilution) | 2,036 |
———————————— | |||||||||||||||||||||||||||||||||||||||||
(a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||||||||||||||||||||||
(b) | After tax impact by segment is as follows: | NEER | Corporate and Other | NextEra Energy | |||||||||||||||||||||||||||||||||||||
Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | ||||||||||||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | $ | 127 | $ | 0.05 | $ | (411) | $ | (0.20) | $ | (284) | $ | (0.15) | |||||||||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | $ | 66 | $ | 0.03 | $ | — | $ | — | $ | 66 | $ | 0.03 | |||||||||||||||||||||||||||||
Differential membership interests – related | $ | 11 | $ | 0.01 | $ | — | $ | — | $ | 11 | $ | 0.01 | |||||||||||||||||||||||||||||
NEP investment gains – net | $ | 908 | $ | 0.45 | $ | — | $ | — | $ | 908 | $ | 0.45 | |||||||||||||||||||||||||||||
Preliminary | ||||||||||||||||||||||||||
Three Months Ended September 30, 2022 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
Operating Revenues | $ | 5,075 | $ | 1,652 | $ | (8) | $ | 6,719 | ||||||||||||||||||
Operating Expenses | ||||||||||||||||||||||||||
Fuel, purchased power and interchange | 1,733 | 235 | (35) | 1,933 | ||||||||||||||||||||||
Other operations and maintenance | 511 | 585 | 129 | 1,225 | ||||||||||||||||||||||
Depreciation and amortization | 829 | 437 | 23 | 1,289 | ||||||||||||||||||||||
Taxes other than income taxes and other – net | 495 | 84 | 2 | 581 | ||||||||||||||||||||||
Total operating expenses – net | 3,568 | 1,341 | 119 | 5,028 | ||||||||||||||||||||||
Gains (losses) on disposal of businesses/assets – net | — | 173 | (2) | 171 | ||||||||||||||||||||||
Operating Income (Loss) | 1,507 | 484 | (129) | 1,862 | ||||||||||||||||||||||
Other Income (Deductions) | ||||||||||||||||||||||||||
Interest expense | (200) | (53) | (6) | (259) | ||||||||||||||||||||||
Equity in earnings (losses) of equity method investees | — | 196 | — | 196 | ||||||||||||||||||||||
Allowance for equity funds used during construction | 19 | 1 | — | 20 | ||||||||||||||||||||||
Gains on disposal of investments and other property – net | — | 51 | — | 51 | ||||||||||||||||||||||
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net | — | (141) | — | (141) | ||||||||||||||||||||||
Other net periodic benefit income | — | — | 70 | 70 | ||||||||||||||||||||||
Other – net | 9 | 63 | 11 | 83 | ||||||||||||||||||||||
Total other income (deductions) – net | (172) | 117 | 75 | 20 | ||||||||||||||||||||||
Income (Loss) before Income Taxes | 1,335 | 601 | (54) | 1,882 | ||||||||||||||||||||||
Income Tax Expense (Benefit) | 261 | 83 | (21) | 323 | ||||||||||||||||||||||
Net Income (Loss) | 1,074 | 518 | (33) | 1,559 | ||||||||||||||||||||||
Net Loss Attributable to Noncontrolling Interests | — | 137 | — | 137 | ||||||||||||||||||||||
Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 1,074 | $ | 655 | $ | (33) | $ | 1,696 | ||||||||||||||||||
Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss): | ||||||||||||||||||||||||||
Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 1,074 | $ | 655 | $ | (33) | $ | 1,696 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | — | (8) | (116) | (124) | ||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net | — | 137 | — | 137 | ||||||||||||||||||||||
Differential membership interests – related | — | 38 | — | 38 | ||||||||||||||||||||||
NEP investment gains – net | — | (99) | — | (99) | ||||||||||||||||||||||
Impairment charges related to investment in Mountain Valley Pipeline | — | 32 | — | 32 | ||||||||||||||||||||||
Less related income tax expense (benefit) | — | (26) | 29 | 3 | ||||||||||||||||||||||
Adjusted Earnings (Loss) | $ | 1,074 | $ | 729 | $ | (120) | $ | 1,683 | ||||||||||||||||||
Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution) | $ | 0.54 | $ | 0.33 | $ | (0.01) | $ | 0.86 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | — | — | (0.06) | (0.06) | ||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net | — | 0.07 | — | 0.07 | ||||||||||||||||||||||
Differential membership interests – related | — | 0.02 | — | 0.02 | ||||||||||||||||||||||
NEP investment gains – net | — | (0.05) | — | (0.05) | ||||||||||||||||||||||
Impairment charges related to investment in Mountain Valley Pipeline | — | 0.02 | — | 0.02 | ||||||||||||||||||||||
Less related income tax expense (benefit) | — | (0.02) | 0.01 | (0.01) | ||||||||||||||||||||||
Adjusted Earnings (Loss) Per Share | $ | 0.54 | $ | 0.37 | $ | (0.06) | $ | 0.85 | ||||||||||||||||||
Weighted-average shares outstanding (assuming dilution) | 1,979 |
———————————— | |||||||||||||||||||||||||||||||||||||||||
(a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||||||||||||||||||||||
(b) | After tax impact by segment is as follows: | NEER | Corporate and Other | NextEra Energy | |||||||||||||||||||||||||||||||||||||
Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | ||||||||||||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | $ | (3) | $ | — | $ | (87) | $ | (0.05) | $ | (90) | $ | (0.05) | |||||||||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net | $ | 99 | $ | 0.06 | $ | — | $ | — | $ | 99 | $ | 0.06 | |||||||||||||||||||||||||||||
Differential membership interests – related | $ | 29 | $ | 0.01 | $ | — | $ | — | $ | 29 | $ | 0.01 | |||||||||||||||||||||||||||||
NEP investment gains – net | $ | (75) | $ | (0.04) | $ | — | $ | — | $ | (75) | $ | (0.04) | |||||||||||||||||||||||||||||
Impairment charges related to investment in Mountain Valley Pipeline | $ | 24 | $ | 0.01 | $ | — | $ | — | $ | 24 | $ | 0.01 | |||||||||||||||||||||||||||||
(c) | Adjusted for the impact of dilutive securities at NEP. |
Preliminary | ||||||||||||||||||||||||||
Nine Months Ended September 30, 2023 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
Operating Revenues | $ | 14,169 | $ | 7,016 | $ | 51 | $ | 21,236 | ||||||||||||||||||
Operating Expenses | ||||||||||||||||||||||||||
Fuel, purchased power and interchange | 3,764 | 589 | (73) | 4,280 | ||||||||||||||||||||||
Other operations and maintenance | 1,262 | 1,828 | 301 | 3,391 | ||||||||||||||||||||||
Depreciation and amortization | 2,743 | 1,470 | 59 | 4,272 | ||||||||||||||||||||||
Taxes other than income taxes and other – net | 1,499 | 225 | 3 | 1,727 | ||||||||||||||||||||||
Total operating expenses – net | 9,268 | 4,112 | 290 | 13,670 | ||||||||||||||||||||||
Gains (losses) on disposal of businesses/assets – net | 1 | 6 | 4 | 11 | ||||||||||||||||||||||
Operating Income (Loss) | 4,902 | 2,910 | (235) | 7,577 | ||||||||||||||||||||||
Other Income (Deductions) | ||||||||||||||||||||||||||
Interest expense | (807) | (545) | 8 | (1,344) | ||||||||||||||||||||||
Equity in earnings (losses) of equity method investees | — | (722) | 1 | (721) | ||||||||||||||||||||||
Allowance for equity funds used during construction | 100 | 5 | — | 105 | ||||||||||||||||||||||
Gains on disposal of investments and other property – net | — | 126 | — | 126 | ||||||||||||||||||||||
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net | — | (10) | — | (10) | ||||||||||||||||||||||
Other net periodic benefit income | — | — | 184 | 184 | ||||||||||||||||||||||
Other – net | 36 | 202 | 50 | 288 | ||||||||||||||||||||||
Total other income (deductions) – net | (671) | (944) | 243 | (1,372) | ||||||||||||||||||||||
Income (Loss) before Income Taxes | 4,231 | 1,966 | 8 | 6,205 | ||||||||||||||||||||||
Income Tax Expense (Benefit) | 825 | 27 | (14) | 838 | ||||||||||||||||||||||
Net Income (Loss) | 3,406 | 1,939 | 22 | 5,367 | ||||||||||||||||||||||
Net Loss Attributable to Noncontrolling Interests | — | 733 | — | 733 | ||||||||||||||||||||||
Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 3,406 | $ | 2,672 | $ | 22 | $ | 6,100 | ||||||||||||||||||
Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss): | ||||||||||||||||||||||||||
Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 3,406 | $ | 2,672 | $ | 22 | $ | 6,100 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | — | (1,698) | (599) | (2,297) | ||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | 4 | — | 4 | ||||||||||||||||||||||
Differential membership interests – related | — | 51 | — | 51 | ||||||||||||||||||||||
NEP investment gains – net | — | 1,250 | — | 1,250 | ||||||||||||||||||||||
Impairment charges related to investment in Mountain Valley Pipeline | — | 58 | — | 58 | ||||||||||||||||||||||
Less related income tax expense (benefit) | — | 58 | 150 | 208 | ||||||||||||||||||||||
Adjusted Earnings (Loss) | $ | 3,406 | $ | 2,395 | $ | (427) | $ | 5,374 | ||||||||||||||||||
Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution) | $ | 1.68 | $ | 1.32 | $ | 0.02 | $ | 3.02 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | — | (0.84) | (0.30) | (1.14) | ||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | — | — | — | ||||||||||||||||||||||
Differential membership interests – related | — | 0.03 | — | 0.03 | ||||||||||||||||||||||
NEP investment gains – net | — | 0.62 | — | 0.62 | ||||||||||||||||||||||
Impairment charges related to investment in Mountain Valley Pipeline | — | 0.03 | — | 0.03 | ||||||||||||||||||||||
Less related income tax expense (benefit) | — | 0.02 | 0.08 | 0.10 | ||||||||||||||||||||||
Adjusted Earnings (Loss) Per Share | $ | 1.68 | $ | 1.18 | $ | (0.20) | $ | 2.66 | ||||||||||||||||||
Weighted-average shares outstanding (assuming dilution) | 2,023 |
———————————— | |||||||||||||||||||||||||||||||||||||||||
(a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||||||||||||||||||||||
(b) | After tax impact by segment is as follows: | NEER | Corporate and Other | NextEra Energy | |||||||||||||||||||||||||||||||||||||
Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | ||||||||||||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | $ | (1,297) | $ | (0.64) | $ | (449) | $ | (0.22) | $ | (1,746) | $ | (0.86) | |||||||||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | $ | 6 | $ | — | $ | — | $ | — | $ | 6 | $ | — | |||||||||||||||||||||||||||||
Differential membership interests – related | $ | 38 | $ | 0.02 | $ | — | $ | — | $ | 38 | $ | 0.02 | |||||||||||||||||||||||||||||
NEP investment gains – net | $ | 937 | $ | 0.46 | $ | — | $ | — | $ | 937 | $ | 0.46 | |||||||||||||||||||||||||||||
Impairment charges related to investment in Mountain Valley Pipeline | $ | 39 | $ | 0.02 | $ | — | $ | — | $ | 39 | $ | 0.02 |
Preliminary | ||||||||||||||||||||||||||
Nine Months Ended September 30, 2022 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
Operating Revenues | $ | 13,211 | $ | 1,627 | $ | (46) | $ | 14,792 | ||||||||||||||||||
Operating Expenses | ||||||||||||||||||||||||||
Fuel, purchased power and interchange | 4,364 | 624 | (100) | 4,888 | ||||||||||||||||||||||
Other operations and maintenance | 1,349 | 1,602 | 210 | 3,161 | ||||||||||||||||||||||
Depreciation and amortization | 2,006 | 1,257 | 69 | 3,332 | ||||||||||||||||||||||
Taxes other than income taxes and other – net | 1,341 | 229 | 2 | 1,572 | ||||||||||||||||||||||
Total operating expenses – net | 9,060 | 3,712 | 181 | 12,953 | ||||||||||||||||||||||
Gains (losses) on disposal of businesses/assets – net | 1 | 208 | (13) | 196 | ||||||||||||||||||||||
Operating Income (Loss) | 4,152 | (1,877) | (240) | 2,035 | ||||||||||||||||||||||
Other Income (Deductions) | ||||||||||||||||||||||||||
Interest expense | (554) | 65 | 589 | 100 | ||||||||||||||||||||||
Equity in earnings (losses) of equity method investees | — | 179 | 1 | 180 | ||||||||||||||||||||||
Allowance for equity funds used during construction | 82 | 6 | — | 88 | ||||||||||||||||||||||
Gains on disposal of investments and other property – net | — | 83 | — | 83 | ||||||||||||||||||||||
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net | — | (569) | — | (569) | ||||||||||||||||||||||
Other net periodic benefit income | — | — | 159 | 159 | ||||||||||||||||||||||
Other – net | 10 | 151 | (1) | 160 | ||||||||||||||||||||||
Total other income (deductions) – net | (462) | (85) | 748 | 201 | ||||||||||||||||||||||
Income (Loss) before Income Taxes | 3,690 | (1,962) | 508 | 2,236 | ||||||||||||||||||||||
Income Tax Expense (Benefit) | 751 | (605) | 111 | 257 | ||||||||||||||||||||||
Net Income (Loss) | 2,939 | (1,357) | 397 | 1,979 | ||||||||||||||||||||||
Net Loss Attributable to Noncontrolling Interests | — | 646 | — | 646 | ||||||||||||||||||||||
Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 2,939 | $ | (711) | $ | 397 | $ | 2,625 | ||||||||||||||||||
Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss): | ||||||||||||||||||||||||||
Net Income (Loss) Attributable to NextEra Energy, Inc. | $ | 2,939 | $ | (711) | $ | 397 | $ | 2,625 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | — | 2,109 | (861) | 1,248 | ||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | 562 | — | 562 | ||||||||||||||||||||||
Differential membership interests – related | — | 94 | — | 94 | ||||||||||||||||||||||
NEP investment gains – net | — | 13 | — | 13 | ||||||||||||||||||||||
Impairment charges related to investment in Mountain Valley Pipeline | — | 838 | — | 838 | ||||||||||||||||||||||
Less related income tax expense (benefit) | — | (865) | 216 | (649) | ||||||||||||||||||||||
Adjusted Earnings (Loss) | $ | 2,939 | $ | 2,040 | $ | (248) | $ | 4,731 | ||||||||||||||||||
Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution) | $ | 1.49 | $ | (0.36) | $ | 0.20 | $ | 1.33 | ||||||||||||||||||
Adjustments – pretax:(b) | ||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | — | 1.07 | (0.44) | 0.63 | ||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | — | 0.29 | — | 0.29 | ||||||||||||||||||||||
Differential membership interests – related | — | 0.05 | — | 0.05 | ||||||||||||||||||||||
NEP investment gains – net | — | 0.01 | — | 0.01 | ||||||||||||||||||||||
Impairment charges related to investment in Mountain Valley Pipeline | — | 0.42 | — | 0.42 | ||||||||||||||||||||||
Less related income tax expense (benefit) | — | (0.45) | 0.12 | (0.33) | ||||||||||||||||||||||
Adjusted Earnings (Loss) Per Share | $ | 1.49 | $ | 1.03 | $ | (0.12) | $ | 2.40 | ||||||||||||||||||
Weighted-average shares outstanding (assuming dilution) | 1,974 |
———————————— | |||||||||||||||||||||||||||||||||||||||||
(a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||||||||||||||||||||||
(b) | After tax impact by segment is as follows: | NEER | Corporate and Other | NextEra Energy | |||||||||||||||||||||||||||||||||||||
Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | Adjusted Earnings | Adjusted EPS | ||||||||||||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | $ | 1,619 | $ | 0.81 | $ | (645) | $ | (0.32) | $ | 974 | $ | 0.49 | |||||||||||||||||||||||||||||
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net | $ | 403 | $ | 0.21 | $ | — | $ | — | $ | 403 | $ | 0.21 | |||||||||||||||||||||||||||||
Differential membership interests – related | $ | 71 | $ | 0.04 | $ | — | $ | — | $ | 71 | $ | 0.04 | |||||||||||||||||||||||||||||
NEP investment gains – net | $ | 8 | $ | — | $ | — | $ | — | $ | 8 | $ | — | |||||||||||||||||||||||||||||
Impairment charges related to investment in Mountain Valley Pipeline | $ | 650 | $ | 0.33 | $ | — | $ | — | $ | 650 | $ | 0.33 |
NextEra Energy, Inc. | ||||||||||||||||||||||||||
Condensed Consolidated Balance Sheets | ||||||||||||||||||||||||||
(millions) (unaudited) | Preliminary | |||||||||||||||||||||||||
September 30, 2023 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 105 | $ | 985 | $ | 478 | $ | 1,568 | ||||||||||||||||||
Customer receivables, net of allowances | 2,314 | 1,720 | — | 4,034 | ||||||||||||||||||||||
Other receivables | 290 | 576 | 61 | 927 | ||||||||||||||||||||||
Materials, supplies and fuel inventory | 1,281 | 791 | 2 | 2,074 | ||||||||||||||||||||||
Regulatory assets | 1,516 | 24 | — | 1,540 | ||||||||||||||||||||||
Derivatives | 9 | 1,320 | 330 | 1,659 | ||||||||||||||||||||||
Other | 732 | 1,550 | 160 | 2,442 | ||||||||||||||||||||||
Total current assets | 6,247 | 6,966 | 1,031 | 14,244 | ||||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||
Property, plant and equipment – net | 68,854 | 51,905 | 124 | 120,883 | ||||||||||||||||||||||
Special use funds | 5,596 | 2,425 | — | 8,021 | ||||||||||||||||||||||
Investment in equity method investees | — | 5,981 | 10 | 5,991 | ||||||||||||||||||||||
Prepaid benefit costs | 1,821 | 4 | 149 | 1,974 | ||||||||||||||||||||||
Regulatory assets | 4,673 | 221 | 288 | 5,182 | ||||||||||||||||||||||
Derivatives | 8 | 1,877 | 193 | 2,078 | ||||||||||||||||||||||
Goodwill | 2,965 | 2,067 | 11 | 5,043 | ||||||||||||||||||||||
Other | 905 | 7,255 | 98 | 8,258 | ||||||||||||||||||||||
Total other assets | 84,822 | 71,735 | 873 | 157,430 | ||||||||||||||||||||||
TOTAL ASSETS | $ | 91,069 | $ | 78,701 | $ | 1,904 | $ | 171,674 | ||||||||||||||||||
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | ||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||
Commercial paper | $ | 2,169 | $ | — | $ | 1,816 | $ | 3,985 | ||||||||||||||||||
Other short-term debt | 200 | — | 1,975 | 2,175 | ||||||||||||||||||||||
Current portion of long-term debt | 1,645 | 677 | 5,657 | 7,979 | ||||||||||||||||||||||
Accounts payable | 1,057 | 5,652 | (47) | 6,662 | ||||||||||||||||||||||
Customer deposits | 586 | 29 | — | 615 | ||||||||||||||||||||||
Accrued interest and taxes | 1,452 | 352 | (142) | 1,662 | ||||||||||||||||||||||
Derivatives | 9 | 774 | 5 | 788 | ||||||||||||||||||||||
Accrued construction-related expenditures | 506 | 1,465 | — | 1,971 | ||||||||||||||||||||||
Regulatory liabilities | 413 | 3 | — | 416 | ||||||||||||||||||||||
Other | 615 | 1,258 | 370 | 2,243 | ||||||||||||||||||||||
Total current liabilities | 8,652 | 10,210 | 9,634 | 28,496 | ||||||||||||||||||||||
Other liabilities and deferred credits: | ||||||||||||||||||||||||||
Long-term debt | 23,244 | 8,140 | 27,799 | 59,183 | ||||||||||||||||||||||
Asset retirement obligations | 2,147 | 1,224 | — | 3,371 | ||||||||||||||||||||||
Deferred income taxes | 8,541 | 3,213 | (2,007) | 9,747 | ||||||||||||||||||||||
Regulatory liabilities | 9,452 | 153 | 11 | 9,616 | ||||||||||||||||||||||
Derivatives | 9 | 1,826 | 41 | 1,876 | ||||||||||||||||||||||
Other | 355 | 2,212 | 250 | 2,817 | ||||||||||||||||||||||
Total other liabilities and deferred credits | 43,748 | 16,768 | 26,094 | 86,610 | ||||||||||||||||||||||
TOTAL LIABILITIES | 52,400 | 26,978 | 35,728 | 115,106 | ||||||||||||||||||||||
COMMITMENTS AND CONTINGENCIES | ||||||||||||||||||||||||||
REDEEMABLE NONCONTROLLING INTERESTS | — | 318 | — | 318 | ||||||||||||||||||||||
EQUITY | ||||||||||||||||||||||||||
Common stock | 1,373 | — | (1,352) | 21 | ||||||||||||||||||||||
Additional paid-in capital | 23,470 | 19,132 | (25,285) | 17,317 | ||||||||||||||||||||||
Retained earnings | 13,826 | 23,230 | (7,072) | 29,984 | ||||||||||||||||||||||
Accumulated other comprehensive loss | — | (112) | (115) | (227) | ||||||||||||||||||||||
Total common shareholders' equity | 38,669 | 42,250 | (33,824) | 47,095 | ||||||||||||||||||||||
Noncontrolling interests | — | 9,155 | — | 9,155 | ||||||||||||||||||||||
TOTAL EQUITY | 38,669 | 51,405 | (33,824) | 56,250 | ||||||||||||||||||||||
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 91,069 | $ | 78,701 | $ | 1,904 | $ | 171,674 |
———————————— | |||||
(a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. |
NextEra Energy, Inc. | ||||||||||||||||||||||||||
Condensed Consolidated Balance Sheets | Preliminary | |||||||||||||||||||||||||
(millions) | ||||||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||||
December 31, 2022 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 25 | $ | 731 | $ | 845 | $ | 1,601 | ||||||||||||||||||
Customer receivables, net of allowances | 1,739 | 2,611 | (1) | 4,349 | ||||||||||||||||||||||
Other receivables | 332 | 393 | 19 | 744 | ||||||||||||||||||||||
Materials, supplies and fuel inventory | 1,159 | 775 | — | 1,934 | ||||||||||||||||||||||
Regulatory assets | 2,155 | 10 | — | 2,165 | ||||||||||||||||||||||
Derivatives | 19 | 1,501 | 70 | 1,590 | ||||||||||||||||||||||
Other | 124 | 877 | 106 | 1,107 | ||||||||||||||||||||||
Total current assets | 5,553 | 6,898 | 1,039 | 13,490 | ||||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||
Property, plant and equipment – net | 64,693 | 45,840 | 526 | 111,059 | ||||||||||||||||||||||
Special use funds | 5,221 | 2,275 | — | 7,496 | ||||||||||||||||||||||
Investment in equity method investees | — | 6,572 | 10 | 6,582 | ||||||||||||||||||||||
Prepaid benefit costs | 1,732 | 3 | 97 | 1,832 | ||||||||||||||||||||||
Regulatory assets | 5,484 | 218 | 290 | 5,992 | ||||||||||||||||||||||
Derivatives | 10 | 1,922 | 3 | 1,935 | ||||||||||||||||||||||
Goodwill | 2,989 | 1,854 | 11 | 4,854 | ||||||||||||||||||||||
Other | 877 | 5,131 | (313) | 5,695 | ||||||||||||||||||||||
Total other assets | 81,006 | 63,815 | 624 | 145,445 | ||||||||||||||||||||||
TOTAL ASSETS | $ | 86,559 | $ | 70,713 | $ | 1,663 | $ | 158,935 | ||||||||||||||||||
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | ||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||
Commercial paper | $ | 1,709 | $ | — | $ | — | $ | 1,709 | ||||||||||||||||||
Other short-term debt | 200 | 68 | 1,100 | 1,368 | ||||||||||||||||||||||
Current portion of long-term debt | 1,547 | 694 | 4,392 | 6,633 | ||||||||||||||||||||||
Accounts payable | 1,377 | 6,919 | 16 | 8,312 | ||||||||||||||||||||||
Customer deposits | 543 | 17 | — | 560 | ||||||||||||||||||||||
Accrued interest and taxes | 362 | 236 | 121 | 719 | ||||||||||||||||||||||
Derivatives | 12 | 2,005 | 85 | 2,102 | ||||||||||||||||||||||
Accrued construction-related expenditures | 559 | 1,201 | — | 1,760 | ||||||||||||||||||||||
Regulatory liabilities | 349 | 1 | — | 350 | ||||||||||||||||||||||
Other | 1,185 | 1,574 | 423 | 3,182 | ||||||||||||||||||||||
Total current liabilities | 7,843 | 12,715 | 6,137 | 26,695 | ||||||||||||||||||||||
Other liabilities and deferred credits: | ||||||||||||||||||||||||||
Long-term debt | 19,455 | 8,357 | 27,444 | 55,256 | ||||||||||||||||||||||
Asset retirement obligations | 2,108 | 1,137 | — | 3,245 | ||||||||||||||||||||||
Deferred income taxes | 8,376 | 2,594 | (1,898) | 9,072 | ||||||||||||||||||||||
Regulatory liabilities | 9,458 | 157 | 11 | 9,626 | ||||||||||||||||||||||
Derivatives | 1 | 2,755 | 153 | 2,909 | ||||||||||||||||||||||
Other | 398 | 2,104 | 194 | 2,696 | ||||||||||||||||||||||
Total other liabilities and deferred credits | 39,796 | 17,104 | 25,904 | 82,804 | ||||||||||||||||||||||
TOTAL LIABILITIES | 47,639 | 29,819 | 32,041 | 109,499 | ||||||||||||||||||||||
COMMITMENTS AND CONTINGENCIES | ||||||||||||||||||||||||||
REDEEMABLE NONCONTROLLING INTERESTS | — | 1,110 | — | 1,110 | ||||||||||||||||||||||
EQUITY | ||||||||||||||||||||||||||
Common stock | 1,373 | — | (1,353) | 20 | ||||||||||||||||||||||
Additional paid-in capital | 23,561 | 10,238 | (21,079) | 12,720 | ||||||||||||||||||||||
Retained earnings | 13,986 | 20,557 | (7,836) | 26,707 | ||||||||||||||||||||||
Accumulated other comprehensive loss | — | (108) | (110) | (218) | ||||||||||||||||||||||
Total common shareholders' equity | 38,920 | 30,687 | (30,378) | 39,229 | ||||||||||||||||||||||
Noncontrolling interests | — | 9,097 | — | 9,097 | ||||||||||||||||||||||
TOTAL EQUITY | 38,920 | 39,784 | (30,378) | 48,326 | ||||||||||||||||||||||
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | $ | 86,559 | $ | 70,713 | $ | 1,663 | $ | 158,935 |
———————————— | |||||
(a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||
Preliminary | ||||||||||||||||||||||||||
Nine Months Ended September 30, 2023 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
Cash Flows From Operating Activities | ||||||||||||||||||||||||||
Net income (loss) | $ | 3,406 | $ | 1,939 | $ | 22 | $ | 5,367 | ||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||||||||||||||||
Depreciation and amortization | 2,743 | 1,470 | 59 | 4,272 | ||||||||||||||||||||||
Nuclear fuel and other amortization | 116 | 60 | 22 | 198 | ||||||||||||||||||||||
Unrealized losses (gains) on marked to market derivative contracts – net | — | (1,864) | (630) | (2,494) | ||||||||||||||||||||||
Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds – net | — | 10 | — | 10 | ||||||||||||||||||||||
Foreign currency transaction losses (gains) | — | (2) | 73 | 71 | ||||||||||||||||||||||
Deferred income taxes | (83) | 507 | 42 | 466 | ||||||||||||||||||||||
Cost recovery clauses and franchise fees | 1,020 | — | — | 1,020 | ||||||||||||||||||||||
Equity in losses (earnings) of equity method investees | — | 722 | (1) | 721 | ||||||||||||||||||||||
Distributions of earnings from equity method investees | — | 520 | — | 520 | ||||||||||||||||||||||
Losses (gains) on disposal of businesses, assets and investments - net | (1) | (132) | (4) | (137) | ||||||||||||||||||||||
Recoverable storm-related costs | (366) | — | — | (366) | ||||||||||||||||||||||
Other – net | 2 | (34) | 62 | 30 | ||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||
Current assets | (648) | 516 | (74) | (206) | ||||||||||||||||||||||
Noncurrent assets | (142) | (134) | (54) | (330) | ||||||||||||||||||||||
Current liabilities | 891 | (1,374) | (274) | (757) | ||||||||||||||||||||||
Noncurrent liabilities | 17 | (82) | 103 | 38 | ||||||||||||||||||||||
Net cash provided by (used in) operating activities | 6,955 | 2,122 | (654) | 8,423 | ||||||||||||||||||||||
Cash Flows From Investing Activities | ||||||||||||||||||||||||||
Capital expenditures of FPL | (7,279) | — | — | (7,279) | ||||||||||||||||||||||
Independent power and other investments of NEER | — | (11,456) | — | (11,456) | ||||||||||||||||||||||
Nuclear fuel purchases | (79) | (47) | — | (126) | ||||||||||||||||||||||
Other capital expenditures | — | — | (49) | (49) | ||||||||||||||||||||||
Sale of independent power and other investments of NEER | — | 1,353 | — | 1,353 | ||||||||||||||||||||||
Proceeds from sale or maturity of securities in special use funds and other investments | 2,651 | 768 | 120 | 3,539 | ||||||||||||||||||||||
Purchases of securities in special use funds and other investments | (2,908) | (1,186) | (665) | (4,759) | ||||||||||||||||||||||
Other – net | (30) | (392) | 422 | — | ||||||||||||||||||||||
Net cash used in investing activities | (7,645) | (10,960) | (172) | (18,777) | ||||||||||||||||||||||
Cash Flows From Financing Activities | ||||||||||||||||||||||||||
Issuances of long-term debt, including premiums and discounts | 5,478 | 354 | 4,146 | 9,978 | ||||||||||||||||||||||
Retirements of long-term debt | (1,548) | (501) | (3,035) | (5,084) | ||||||||||||||||||||||
Proceeds from differential membership investors | — | 337 | — | 337 | ||||||||||||||||||||||
Net change in commercial paper | 460 | — | 1,816 | 2,276 | ||||||||||||||||||||||
Proceeds from other short-term debt | — | — | 1,925 | 1,925 | ||||||||||||||||||||||
Repayments of other short-term debt | — | (38) | (600) | (638) | ||||||||||||||||||||||
Payments from (to) related parties under a cash sweep and credit support agreement – net | — | (206) | — | (206) | ||||||||||||||||||||||
Issuances of common stock/equity units – net | — | — | 4,505 | 4,505 | ||||||||||||||||||||||
Dividends on common stock | — | — | (2,823) | (2,823) | ||||||||||||||||||||||
Dividends & capital distributions from (to) parent – net | (3,565) | 8,826 | (5,261) | — | ||||||||||||||||||||||
Other – net | (70) | (283) | (214) | (567) | ||||||||||||||||||||||
Net cash provided by financing activities | 755 | 8,489 | 459 | 9,703 | ||||||||||||||||||||||
Effects of currency translation on cash, cash equivalents and restricted cash | — | (12) | — | (12) | ||||||||||||||||||||||
Net increase (decrease) in cash, cash equivalents and restricted cash | 65 | (361) | (367) | (663) | ||||||||||||||||||||||
Cash, cash equivalents and restricted cash at beginning of period | 58 | 2,533 | 850 | 3,441 | ||||||||||||||||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 123 | $ | 2,172 | $ | 483 | $ | 2,778 |
———————————— | |||||
(a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. |
Preliminary | ||||||||||||||||||||||||||
Nine Months Ended September 30, 2022 | FPL | NEER | Corporate and Other(a) | NextEra Energy | ||||||||||||||||||||||
Cash Flows From Operating Activities | ||||||||||||||||||||||||||
Net income (loss) | $ | 2,939 | $ | (1,357) | $ | 397 | $ | 1,979 | ||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||||||||||||||||
Depreciation and amortization | 2,006 | 1,257 | 69 | 3,332 | ||||||||||||||||||||||
Nuclear fuel and other amortization | 135 | 48 | 28 | 211 | ||||||||||||||||||||||
Unrealized losses (gains) on marked to market derivative contracts – net | 1 | 2,400 | (477) | 1,924 | ||||||||||||||||||||||
Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds – net | — | 569 | — | 569 | ||||||||||||||||||||||
Foreign currency transaction losses (gains) | — | (9) | (153) | (162) | ||||||||||||||||||||||
Deferred income taxes | 771 | (650) | 87 | 208 | ||||||||||||||||||||||
Cost recovery clauses and franchise fees | (1,295) | — | — | (1,295) | ||||||||||||||||||||||
Equity in losses (earnings) of equity method investees | — | (179) | (1) | (180) | ||||||||||||||||||||||
Distributions of earnings from equity method investees | — | 408 | — | 408 | ||||||||||||||||||||||
Losses (gains) on disposal of businesses, assets and investments – net | (1) | (291) | 13 | (279) | ||||||||||||||||||||||
Recoverable storm-related costs | (26) | — | — | (26) | ||||||||||||||||||||||
Other – net | 9 | (111) | 73 | (29) | ||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||
Current assets | (934) | (350) | 46 | (1,238) | ||||||||||||||||||||||
Noncurrent assets | (48) | 15 | (33) | (66) | ||||||||||||||||||||||
Current liabilities | 899 | 684 | 226 | 1,809 | ||||||||||||||||||||||
Noncurrent liabilities | 94 | (38) | 46 | 102 | ||||||||||||||||||||||
Net cash provided by (used in) operating activities | 4,550 | 2,396 | 321 | 7,267 | ||||||||||||||||||||||
Cash Flows From Investing Activities | ||||||||||||||||||||||||||
Capital expenditures of FPL | (6,021) | — | — | (6,021) | ||||||||||||||||||||||
Independent power and other investments of NEER | — | (7,252) | — | (7,252) | ||||||||||||||||||||||
Nuclear fuel purchases | (67) | (38) | — | (105) | ||||||||||||||||||||||
Other capital expenditures | — | — | (451) | (451) | ||||||||||||||||||||||
Sale of independent power and other investments of NEER | — | 575 | — | 575 | ||||||||||||||||||||||
Proceeds from sale or maturity of securities in special use funds and other investments | 1,738 | 840 | 318 | 2,896 | ||||||||||||||||||||||
Purchases of securities in special use funds and other investments | (1,833) | (1,296) | (367) | (3,496) | ||||||||||||||||||||||
Other – net | (7) | (135) | 147 | 5 | ||||||||||||||||||||||
Net cash used in investing activities | (6,190) | (7,306) | (353) | (13,849) | ||||||||||||||||||||||
Cash Flows From Financing Activities | ||||||||||||||||||||||||||
Issuances of long-term debt, including premiums and discounts | 2,942 | 49 | 8,625 | 11,616 | ||||||||||||||||||||||
Retirements of long-term debt | (441) | (428) | (1,268) | (2,137) | ||||||||||||||||||||||
Proceeds from differential membership investors | — | 443 | — | 443 | ||||||||||||||||||||||
Net change in commercial paper | (1,382) | — | 925 | (457) | ||||||||||||||||||||||
Proceeds from other short-term debt | — | — | 1,725 | 1,725 | ||||||||||||||||||||||
Repayments of other short-term debt | — | — | (525) | (525) | ||||||||||||||||||||||
Payments from (to) related parties under a cash sweep and credit support agreement – net | — | 8 | — | 8 | ||||||||||||||||||||||
Issuances of common stock/equity units – net | — | — | 1,458 | 1,458 | ||||||||||||||||||||||
Dividends on common stock | — | — | (2,507) | (2,507) | ||||||||||||||||||||||
Dividends & capital distributions from (to) parent – net | 1,700 | 5,833 | (7,533) | — | ||||||||||||||||||||||
Other – net | (36) | (32) | (318) | (386) | ||||||||||||||||||||||
Net cash provided by financing activities | 2,783 | 5,873 | 582 | 9,238 | ||||||||||||||||||||||
Effects of currency translation on cash, cash equivalents and restricted cash | — | (5) | — | (5) | ||||||||||||||||||||||
Net increase (decrease) in cash, cash equivalents and restricted cash | 1,143 | 958 | 550 | 2,651 | ||||||||||||||||||||||
Cash, cash equivalents and restricted cash at beginning of period | 108 | 1,184 | 24 | 1,316 | ||||||||||||||||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 1,251 | $ | 2,142 | $ | 574 | $ | 3,967 |
———————————— | |||||
(a) | Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other. |
Preliminary | ||||||||||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Year-To-Date | |||||||||||||||||||||||
2022 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. | $ | (0.23) | $ | 0.70 | $ | 0.86 | $ | 1.33 | ||||||||||||||||||
FPL – 2022 Earnings Per Share | $ | 0.44 | $ | 0.50 | $ | 0.54 | $ | 1.49 | ||||||||||||||||||
New investment growth | 0.06 | 0.06 | 0.06 | 0.17 | ||||||||||||||||||||||
Other and share dilution | 0.03 | 0.01 | (0.02) | 0.02 | ||||||||||||||||||||||
FPL – 2023 Earnings Per Share | $ | 0.53 | $ | 0.57 | $ | 0.58 | $ | 1.68 | ||||||||||||||||||
NEER – 2022 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. | $ | (0.76) | $ | 0.07 | $ | 0.33 | $ | (0.36) | ||||||||||||||||||
New investments | 0.07 | 0.10 | 0.11 | 0.28 | ||||||||||||||||||||||
Existing clean energy | (0.03) | (0.06) | (0.02) | (0.11) | ||||||||||||||||||||||
Gas infrastructure | (0.01) | — | 0.01 | — | ||||||||||||||||||||||
Customer supply and proprietary power & gas trading | 0.06 | 0.09 | 0.04 | 0.19 | ||||||||||||||||||||||
Non-qualifying hedges impact | 1.03 | 0.50 | (0.05) | 1.45 | ||||||||||||||||||||||
NEP investment gains – net | 0.03 | — | (0.49) | (0.46) | ||||||||||||||||||||||
Change in unrealized gains (losses) on securities held in NEER's nuclear decommissioning funds and OTTI – net | 0.08 | 0.11 | 0.03 | 0.21 | ||||||||||||||||||||||
Impairment charge related to investment in Mountain Valley Pipeline | 0.30 | — | 0.01 | 0.31 | ||||||||||||||||||||||
Other, including other investment income, interest expense, corporate general and administrative expenses and share dilution | (0.05) | (0.09) | (0.08) | (0.19) | ||||||||||||||||||||||
NEER – 2023 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. | $ | 0.72 | $ | 0.72 | $ | (0.11) | $ | 1.32 | ||||||||||||||||||
Corporate and Other – 2022 Earnings (Loss) Per Share | $ | 0.09 | $ | 0.13 | $ | (0.01) | $ | 0.20 | ||||||||||||||||||
Non-qualifying hedges impact | (0.27) | — | 0.15 | (0.10) | ||||||||||||||||||||||
Other, including interest expense and share dilution | (0.03) | (0.04) | (0.01) | (0.08) | ||||||||||||||||||||||
Corporate and Other – 2023 Earnings (Loss) Per Share | $ | (0.21) | $ | 0.09 | $ | 0.13 | $ | 0.02 | ||||||||||||||||||
2023 Earnings Per Share Attributable to NextEra Energy, Inc. | $ | 1.04 | $ | 1.38 | $ | 0.60 | $ | 3.02 | ||||||||||||||||||
Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other. | ||||||||||||||||||||||||||
The sum of the quarterly amounts may not equal the total for the year due to rounding. |
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