EX-99 2 neeq42023exhibit99.htm EX-99 Document

Exhibit 99
nexteraenergy.jpg
NextEra Energy, Inc.
Media Line: 561-694-4442
Jan. 25, 2024

FOR IMMEDIATE RELEASE

NextEra Energy reports fourth-quarter and full-year 2023 financial results
NextEra Energy delivers strong full-year 2023 financial and operational results
FPL remains focused on executing its capital plan and providing outstanding value to customers by building on its best-in-class reliability and keeping bills affordable
NextEra Energy Resources had a record year of new renewables and storage origination, adding approximately 9,000 megawatts to its backlog

JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported 2023 fourth-quarter net income attributable to NextEra Energy on a GAAP basis of $1.210 billion, or $0.59 per share, compared to $1.522 billion, or $0.76 per share, for the fourth quarter of 2022. On an adjusted basis, NextEra Energy's 2023 fourth-quarter earnings were $1.067 billion, or $0.52 per share, compared to $1.011 billion, or $0.51 per share, in the fourth quarter of 2022.

For the full year 2023, NextEra Energy reported net income attributable to NextEra Energy on a GAAP basis of $7.310 billion, or $3.60 per share, compared to $4.147 billion, or $2.10 per share, in 2022. On an adjusted basis, NextEra Energy's full-year 2023 earnings were $6.441 billion, or $3.17 per share, compared to $5.742 billion, or $2.90 per share, in 2022, which represents year-over-year growth in adjusted earnings per share of approximately 9.3%.

"NextEra Energy had an excellent year of execution in 2023, growing full-year adjusted earnings per share by more than 9% over 2022," said John Ketchum, chairman, president and chief executive officer. "Due to strong operational and financial performance at both FPL and NextEra Energy Resources, we exceeded the high end of our adjusted earnings per share expectations range and continued our track record of providing long-term value for shareholders. FPL continues to deliver for its customers with a focus on keeping bills affordable, delivering exceptional reliability and executing its well-established capital plan. NextEra Energy Resources had its best-ever year of new renewables and storage origination, adding approximately 9,000 megawatts to its backlog. Given the strength of both businesses, we will be disappointed if we are not able to deliver financial results at or near the top of our adjusted earnings per share expectations ranges in each year through 2026, while maintaining our strong balance sheet and credit ratings."

FPL
FPL reported fourth-quarter 2023 net income on a GAAP basis of $1,146 million, or $0.56 per share, compared to $763 million, or $0.38 per share, for the prior-year quarter. On an adjusted basis, FPL's 2023 fourth-quarter earnings were $846 million, or $0.41 per share, compared to $763 million, or $0.38 per share, in the prior-year quarter. For the full year 2023, FPL reported net income on a GAAP basis of $4.552 billion or $2.24 per share, compared to $3.701 billion, or $1.87 per share, in 2022. On an adjusted basis, FPL's full-year 2023 earnings were $4.251 billion, or $2.09 per share, compared to $3.701 billion, or $1.87 per share, in 2022.

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As America's largest electric utility, FPL's full-year growth primarily was driven by continued investment in the business. During 2023, FPL continued to execute against its capital plan and deliver outstanding value to its customers in one of the fastest-growing states in the nation. FPL's capital expenditures were approximately $2 billion for the fourth quarter of 2023, bringing its full-year capital investments to a total of roughly $9.4 billion. Regulatory capital employed increased by approximately 12.5% for 2023. During the fourth quarter of 2023, FPL's average number of customers increased by nearly 81,000 from the prior-year comparable quarter.

In 2023, FPL placed into service approximately 1,200 megawatts (MW) of cost-effective solar and, over the term of its current rate agreement, expects to add roughly 4,800 MW of solar. In addition, FPL's 25-MW hydrogen pilot at the Okeechobee Clean Energy Center successfully achieved commercial operations in December.

NextEra Energy Resources
NextEra Energy Resources reported fourth-quarter 2023 net income attributable to NextEra Energy on a GAAP basis of $885 million, or $0.43 per share, compared to $996 million, or $0.50 per share, in the prior-year quarter. On an adjusted basis, NextEra Energy Resources' earnings for the fourth quarter of 2023 were $361 million, or $0.18 per share, compared to $402 million, or $0.20 per share, for the fourth quarter of 2022.

For the full year 2023, NextEra Energy Resources reported net income attributable to NextEra Energy on a GAAP basis of $3.558 billion, or $1.75 per share, compared to $285 million, or $0.14 per share, in 2022. On an adjusted basis, NextEra Energy Resources' earnings for the full year 2023 were $2.757 billion, or $1.36 per share, compared to $2.441 billion, or $1.23 per share, for the full year 2022. NextEra Energy Resources grew adjusted earnings approximately 12.9% versus 2022.

In 2023, NextEra Energy Resources had a record year for origination, adding approximately 9,000 MW of new renewables and battery storage projects to its backlog. Since the third-quarter call in October, NextEra Energy Resources added approximately 1,005 MW of solar, 75 MW of wind, 805 MW of storage and 175 MW of wind repowering to its backlog. With more than 5,600 MW placed into service in 2023, NextEra Energy Resources' backlog now stands at more than 20 gigawatts.

Corporate and Other
In the fourth quarter of 2023 on a GAAP basis, Corporate and Other results decreased $0.28 per share, compared to the prior-year quarter. On an adjusted basis, Corporate and Other results for the fourth quarter of 2023 were roughly flat, compared to the prior-year quarter. For the full year 2023, Corporate and Other results decreased $0.48 per share on a GAAP basis, compared to 2022. On an adjusted basis, Corporate and Other results for the full year 2023 decreased $0.08 per share, compared to 2022.

Outlook
NextEra Energy's long-term financial expectations remain unchanged. For 2024, NextEra Energy continues to expect adjusted earnings per share to be in the range of $3.23 to $3.43. For 2025 and 2026, NextEra Energy expects to grow 6% to 8%, off the 2024 adjusted earnings per share range. This translates to a range of $3.45 to $3.70 for 2025 and $3.63 to $4.00 for 2026. NextEra Energy also continues to expect to grow its dividends per share at a roughly 10% rate per year through at least 2024, off a 2022 base.

Conference call information
As previously announced, NextEra Energy's fourth-quarter and full-year 2023 financial results conference call is scheduled for 9 a.m. ET today. Also discussed during the call will be the fourth-quarter and full-year 2023 financial results for NextEra Energy Partners, LP (NYSE: NEP). The listen-only webcast will be available on NextEra Energy's website by accessing the following link: www.NextEraEnergy.com/FinancialResults. The news release and slides accompanying the presentation may be downloaded at www.NextEraEnergy.com/FinancialResults, beginning at 7:30 a.m. ET today. A replay will be available for 90 days by accessing the same link as listed above.

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NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns Florida Power & Light Company, which is America's largest electric utility that sells more power than any other utility, providing clean, affordable, reliable electricity to approximately 5.9 million customer accounts, or more than 12 million people across Florida. NextEra Energy also owns a competitive clean energy business, NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from seven commercial nuclear power units in Florida, New Hampshire and Wisconsin. A Fortune 200 company, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

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Adjusted earnings for the periods in this news release exclude the effects of non-qualifying hedges; NextEra Energy Partners, LP net investment gains; differential membership interests-related; change in unrealized gains and losses on equity securities held in NextEra Energy Resources' nuclear decommissioning funds and other than temporary impairments (OTTI); the gain on disposal of a business and impairment charges.

NextEra Energy's management uses adjusted earnings, which is a non-GAAP financial measure, internally for financial planning, analysis of performance, reporting of results to the board of directors and as an input in determining performance-based compensation under the company's employee incentive compensation plans. NextEra Energy also uses earnings expressed in this fashion when communicating its financial results and earnings outlook to analysts and investors. NextEra Energy's management believes that adjusted earnings provide a more meaningful representation of NextEra Energy's fundamental earnings power. A reconciliation of historical adjusted earnings to net income attributable to NextEra Energy, which is the most directly comparable GAAP measure, is included in the attachments to this news release. Adjusted earnings does not represent a substitute for net income, as prepared in accordance with GAAP.

NextEra Energy's adjusted earnings expectations exclude the cumulative effect of adopting new accounting standards; the effects of non-qualifying hedges and unrealized gains and losses on equity securities held in NextEra Energy Resources, LLC's nuclear decommissioning funds and other than temporary impairments, none of which can be determined at this time. Adjusted earnings expectations also exclude the effects of NextEra Energy Partners, LP net investment gains and differential membership interests-related. In addition, adjusted earnings expectations assume, among other things, normal weather and operating conditions; positive macroeconomic conditions in the U.S. and Florida; supportive commodity markets; current forward curves; public policy support for wind and solar development and construction; market demand and transmission expansion to support wind and solar development; market demand for pipeline capacity; access to capital at reasonable cost and terms; divestitures to NextEra Energy Partners, LP; no adverse litigation decisions; and no changes to governmental policies or incentives. Please see the accompanying cautionary statements for a list of the risk factors that may affect future results.

This news release should be read in conjunction with the attached unaudited financial information.

Cautionary Statements and Risk Factors That May Affect Future Results

This news release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of NextEra Energy, Inc. (NextEra Energy) and Florida Power & Light Company (FPL) regarding future operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NextEra Energy's and FPL's control. Forward-looking statements in this news release include, among others, statements concerning adjusted earnings per share expectations and future operating performance and statements concerning future dividends. In some cases, you can identify the forward-looking statements by words or phrases such as “will,” “may result,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “seek,” “potential,” “projection,” “forecast,” “predict,” “goals,” “target,” “outlook,” “should,”
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“would” or similar words or expressions. You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance. The future results of NextEra Energy and FPL and their business and financial condition are subject to risks and uncertainties that could cause their actual results to differ materially from those expressed or implied in the forward-looking statements, or may require them to limit or eliminate certain operations. These risks and uncertainties include, but are not limited to, those discussed in this news release and the following: effects of extensive regulation of NextEra Energy's and FPL's business operations; inability of NextEra Energy and FPL to recover in a timely manner any significant amount of costs, a return on certain assets or a reasonable return on invested capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise; impact of political, regulatory, operational and economic factors on regulatory decisions important to NextEra Energy and FPL; effect of any reductions or modifications to, or elimination of, governmental incentives or policies that support utility scale renewable energy projects of NextEra Energy and FPL and its affiliated entities or the imposition of additional tax laws, tariffs, duties, policies or assessments on renewable energy or equipment necessary to generate it or deliver it; impact of new or revised laws, regulations, interpretations or constitutional ballot and regulatory initiatives on NextEra Energy and FPL; capital expenditures, increased operating costs and various liabilities attributable to environmental laws, regulations and other standards applicable to NextEra Energy and FPL; effects on NextEra Energy and FPL of federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions; exposure of NextEra Energy and FPL to significant and increasing compliance costs and substantial monetary penalties and other sanctions as a result of extensive federal regulation of their operations and businesses; effect on NextEra Energy and FPL of changes in tax laws, guidance or policies as well as in judgments and estimates used to determine tax-related asset and liability amounts; impact on NextEra Energy and FPL of adverse results of litigation; impacts on NextEra Energy or FPL of allegations of violations of law; effect on NextEra Energy and FPL of failure to proceed with projects under development or inability to complete the construction of (or capital improvements to) electric generation, transmission and distribution facilities, gas infrastructure facilities or other facilities on schedule or within budget; impact on development and operating activities of NextEra Energy and FPL resulting from risks related to project siting, planning, financing, construction, permitting, governmental approvals and the negotiation of project development agreements, as well as supply chain disruptions; risks involved in the operation and maintenance of electric generation, transmission and distribution facilities, gas infrastructure facilities and other facilities; effect on NextEra Energy and FPL of a lack of growth or slower growth in the number of customers or in customer usage; impact on NextEra Energy and FPL of severe weather and other weather conditions; threats of geopolitical factors, terrorism and catastrophic events that could result from terrorism, cyberattacks or other attempts to disrupt NextEra Energy's and FPL's business or the businesses of third parties; inability to obtain adequate insurance coverage for protection of NextEra Energy and FPL against significant losses and risk that insurance coverage does not provide protection against all significant losses; a prolonged period of low gas and oil prices could impact NextEra Energy Resources, LLC’s (NextEra Energy Resources) gas infrastructure business and cause NextEra Energy Resources to delay or cancel certain gas infrastructure projects and could result in certain projects becoming impaired; risk to NextEra Energy Resources of increased operating costs resulting from unfavorable supply costs necessary to provide NextEra Energy Resources' full energy and capacity requirement services; inability or failure by NextEra Energy Resources to manage properly or hedge effectively the commodity risk within its portfolio; effect of reductions in the liquidity of energy markets on NextEra Energy's ability to manage operational risks; effectiveness of NextEra Energy's and FPL's risk management tools associated with their hedging and trading procedures to protect against significant losses, including the effect of unforeseen price variances from historical behavior; impact of unavailability or disruption of power transmission or commodity transportation facilities on sale and delivery of power or natural gas by NextEra Energy, including FPL; exposure of NextEra Energy and FPL to credit and performance risk from customers, hedging counterparties and vendors; failure of NextEra Energy or FPL counterparties to perform under derivative contracts or of requirement for NextEra Energy or FPL to post margin cash collateral under derivative contracts; failure or breach of NextEra Energy's or FPL's information technology systems; risks to NextEra Energy and FPL's retail businesses from compromise of sensitive customer data; losses from volatility in the market values of derivative instruments and limited liquidity in over-the-counter markets; impact of negative publicity; inability of FPL to maintain, negotiate or renegotiate acceptable franchise agreements with municipalities and counties in Florida; occurrence of work strikes or stoppages and increasing personnel costs; NextEra Energy's ability to successfully identify, complete and integrate acquisitions, including the effect of increased competition for acquisitions; environmental, health and financial risks associated with NextEra Energy Resources’ and FPL's ownership and operation of nuclear generation facilities; liability of NextEra Energy and FPL for significant retrospective assessments and/or retrospective insurance premiums in the event of an incident at certain nuclear generation facilities; increased operating and capital expenditures and/or reduced revenues at nuclear generation facilities of NextEra Energy or FPL resulting from orders or new regulations of the Nuclear Regulatory Commission; inability to operate any of NextEra Energy Resources' or FPL's owned nuclear generation units through the end of their respective operating licenses; effect of disruptions, uncertainty or volatility in the credit and capital markets or actions by third parties in connection with project-specific or other financing arrangements on NextEra Energy's and FPL's ability to fund their liquidity and capital needs and meet their growth objectives; inability of NextEra Energy, FPL and NextEra Energy Capital Holdings, Inc. to maintain their current credit ratings; impairment of NextEra Energy's and FPL's liquidity from inability of credit providers to fund their credit commitments or to maintain their current credit ratings; poor market performance and other economic factors that could affect NextEra Energy's defined benefit pension plan's funded status; poor market performance and other risks to the asset values of NextEra Energy's and FPL's nuclear decommissioning funds; changes in market value and other risks to certain of NextEra Energy's investments; effect of inability of NextEra Energy subsidiaries to pay upstream dividends or repay funds to NextEra Energy or of NextEra Energy's performance under guarantees of subsidiary obligations on NextEra Energy's ability to meet its financial obligations and to pay dividends on its common stock; the fact that the amount and timing of dividends payable on NextEra Energy's common stock, as well as the dividend policy approved by NextEra Energy's board of directors from time to time, and changes to that policy, are within the sole discretion of NextEra Energy's board of directors and, if declared and paid, dividends may be in amounts that are less than might be expected by shareholders; NextEra Energy Partners, LP’s inability to access sources of capital on commercially reasonable terms could have an effect on its ability to consummate future acquisitions and on the value of NextEra Energy’s limited partner interest in NextEra Energy Operating Partners, LP; effects of disruptions, uncertainty or volatility in the credit and capital markets on the market price of NextEra Energy's common stock; and the ultimate severity and duration of public health crises, epidemics and pandemics, and its effects on NextEra Energy’s or FPL’s businesses. NextEra Energy and FPL discuss these and other risks and uncertainties in their annual report on Form 10-K for the year ended December 31, 2022 and other Securities and Exchange
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Commission (SEC) filings, and this news release should be read in conjunction with such SEC filings. The forward-looking statements made in this news release are made only as of the date of this news release and NextEra Energy and FPL undertake no obligation to update any forward-looking statements.

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NextEra Energy, Inc.
Condensed Consolidated Statements of Income
(millions, except per share amounts)
(unaudited)
Preliminary
Three Months Ended December 31, 2023FPLNEER
Corporate and
Other(a)
NextEra Energy
Operating Revenues$4,196 $2,656 $25 $6,877 
Operating Expenses
Fuel, purchased power and interchange996 207 (25)1,178 
Other operations and maintenance403 773 115 1,291 
Depreciation and amortization1,046 540 21 1,607 
Taxes other than income taxes and other – net463 73 (1)535 
Total operating expenses – net2,908 1,593 110 4,611 
Gains (losses) on disposal of businesses/assets – net407 (10)(3)394 
Operating Income (Loss)1,695 1,053 (88)2,660 
Other Income (Deductions)
Interest expense(307)(584)(1,090)(1,981)
Equity in earnings (losses) of equity method investees— 73 — 73 
Allowance for equity funds used during construction55 — 56 
Gains (losses) on disposal of investments and other property – net— (1)— (1)
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net— 169 — 169 
Other net periodic benefit income— — 61 61 
Other – net28 17 46 
Total other income (deductions) – net(251)(314)(1,012)(1,577)
Income (Loss) before Income Taxes1,444 739 (1,100)1,083 
Income Tax Expense (Benefit)298 150 (279)169 
Net Income (Loss)1,146 589 (821)914 
Net Loss Attributable to Noncontrolling Interests— 296 — 296 
Net Income (Loss) Attributable to NextEra Energy, Inc.$1,146 $885 $(821)$1,210 
Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss):
Net Income (Loss) Attributable to NextEra Energy, Inc.$1,146 $885 $(821)$1,210 
Adjustments – pretax:(b)
Net losses (gains) associated with non-qualifying hedges— (561)909 348 
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net— (169)— (169)
Differential membership interests – related— 14 — 14 
NEP investment gains – net— 44 — 44 
Gain on disposal of a business(406)— — (406)
Less related income tax expense (benefit)(c)
106 148 (228)26 
Adjusted Earnings (Loss)$846 $361 $(140)$1,067 
Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)$0.56 $0.43 $(0.40)$0.59 
Adjustments – pretax:(b)
Net losses (gains) associated with non-qualifying hedges— (0.27)0.44 0.17 
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net— (0.08)— (0.08)
Differential membership interests – related— 0.01 — 0.01 
NEP investment gains – net— 0.02 — 0.02 
Gain on disposal of a business(0.20)— — (0.20)
Less related income tax expense (benefit)(c)
0.05 0.07 (0.11)0.01 
Adjusted Earnings (Loss) Per Share$0.41 $0.18 $(0.07)$0.52 
Weighted-average shares outstanding (assuming dilution)2,054 
————————————
(a)Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other.
(b)After tax impact by segment is as follows:FPLNEERCorporate and OtherNextEra Energy
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Net losses (gains) associated with non-qualifying hedges$— $— $(434)$(0.21)$681 $0.33 $247 $0.12 
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net$— $— $(121)$(0.06)$— $— $(121)$(0.06)
Differential membership interests – related$— $— $11 $0.01 $— $— $11 $0.01 
NEP investment gains – net$— $— $26 $0.01 $— $— $26 $0.01 
Gain on disposal of a business$(300)$(0.15)$(6)$— $— $— $(306)$(0.15)
(c)Includes the effects of rounding.
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NextEra Energy, Inc.
Condensed Consolidated Statements of Income
(millions, except per share amounts)
(unaudited)
Preliminary
Three Months Ended December 31, 2022FPLNEER
Corporate and
Other(a)
NextEra Energy
Operating Revenues$4,071 $2,093 $— $6,164 
Operating Expenses
Fuel, purchased power and interchange1,324 211 (34)1,501 
Other operations and maintenance508 657 102 1,267 
Depreciation and amortization688 465 17 1,170 
Taxes other than income taxes and other – net413 96 (2)507 
Total operating expenses – net2,933 1,429 83 4,445 
Gains (losses) on disposal of businesses/assets – net328 (6)326 
Operating Income (Loss)1,142 992 (89)2,045 
Other Income (Deductions)
Interest expense(215)(194)(276)(685)
Equity in earnings (losses) of equity method investees— 24 — 24 
Allowance for equity funds used during construction24 — — 24 
Gains (losses) on disposal of investments and other property – net— (4)(3)
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net— 108 — 108 
Other net periodic benefit income— — 44 44 
Other – net28 39 
Total other income (deductions) – net(183)(38)(228)(449)
Income (Loss) before Income Taxes959 954 (317)1,596 
Income Tax Expense (Benefit)196 213 (80)329 
Net Income (Loss)763 741 (237)1,267 
Net Loss Attributable to Noncontrolling Interests— 255 — 255 
Net Income (Loss) Attributable to NextEra Energy, Inc.$763 $996 $(237)$1,522 
Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss):
Net Income (Loss) Attributable to NextEra Energy, Inc.$763 $996 $(237)$1,522 
Adjustments – pretax:(b)
Net losses (gains) associated with non-qualifying hedges— (468)110 (358)
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net— (109)— (109)
Differential membership interests – related— 22 — 22 
NEP investment gains – net— (256)— (256)
Impairment charges related to investment in Mountain Valley Pipeline— 28 — 28 
Less related income tax expense (benefit)(c)
— 189 (27)162 
Adjusted Earnings (Loss)$763 $402 $(154)$1,011 
Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)$0.38 $0.50 $(0.12)$0.76 
Adjustments – pretax:(b)
Net losses (gains) associated with non-qualifying hedges— (0.23)0.05 (0.18)
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— (0.13)— (0.13)
Impairment charges related to investment in Mountain Valley Pipeline— 0.01 — 0.01 
Less related income tax expense (benefit)(c)
— 0.09 — 0.09 
Adjusted Earnings (Loss) Per Share$0.38 $0.20 $(0.07)$0.51 
Weighted-average shares outstanding (assuming dilution)1,993 
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(a)Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other.
(b)After tax impact by segment is as follows:NEERCorporate and OtherNextEra Energy
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Net losses (gains) associated with non-qualifying hedges$(362)$(0.18)$83 $0.05 $(279)$(0.13)
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net$(79)$(0.04)$— $— $(79)$(0.04)
Differential membership interests – related$17 $0.01 $— $— $17 $0.01 
NEP investment gains – net$(194)$(0.10)$— $— $(194)$(0.10)
Impairment charges related to investment in Mountain Valley Pipeline$24 $0.01 $— $— $24 $0.01 
(c)Includes the effects of rounding.
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NextEra Energy, Inc.
Condensed Consolidated Statements of Income
(millions, except per share amounts)
(unaudited)
Preliminary
Twelve Months Ended December 31, 2023FPLNEER
Corporate and
Other(a)
NextEra Energy
Operating Revenues$18,365 $9,672 $77 $28,114 
Operating Expenses
Fuel, purchased power and interchange4,761 795 (99)5,457 
Other operations and maintenance1,666 2,601 414 4,681 
Depreciation and amortization3,789 2,009 81 5,879 
Taxes other than income taxes and other – net1,959 301 2,265 
Total operating expenses – net12,175 5,706 401 18,282 
Gains (losses) on disposal of businesses/assets – net407 (3)405 
Operating Income (Loss)6,597 3,963 (323)10,237 
Other Income (Deductions)
Interest expense(1,114)(1,129)(1,081)(3,324)
Equity in earnings (losses) of equity method investees— (649)(648)
Allowance for equity funds used during construction155 — 161 
Gains (losses) on disposal of investments and other property – net— 125 — 125 
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net— 159 — 159 
Other net periodic benefit income— — 245 245 
Other – net37 232 64 333 
Total other income (deductions) – net(922)(1,256)(771)(2,949)
Income (Loss) before Income Taxes5,675 2,707 (1,094)7,288 
Income Tax Expense (Benefit)1,123 177 (294)1,006 
Net Income (Loss)4,552 2,530 (800)6,282 
Net Loss Attributable to Noncontrolling Interests— 1,028 — 1,028 
Net Income (Loss) Attributable to NextEra Energy, Inc.$4,552 $3,558 $(800)$7,310 
Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss):
Net Income (Loss) Attributable to NextEra Energy, Inc.$4,552 $3,558 $(800)$7,310 
Adjustments – pretax:(b)
Net losses (gains) associated with non-qualifying hedges— (2,259)310 (1,949)
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net— (165)— (165)
Differential membership interests – related— 65 — 65 
NEP investment gains – net— 1,294 — 1,294 
Gain on disposal of a business(406)— — (406)
Impairment charges related to investment in Mountain Valley Pipeline— 58 — 58 
Less related income tax expense (benefit)(c)
105 206 (77)234 
Adjusted Earnings (Loss)$4,251 $2,757 $(567)$6,441 
Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)$2.24 $1.75 $(0.39)$3.60 
Adjustments – pretax:(b)
Net losses (gains) associated with non-qualifying hedges— (1.11)0.15 (0.96)
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net— (0.08)— (0.08)
Differential membership interests – related— 0.03 — 0.03 
NEP investment gains – net— 0.64 — 0.64 
Gain on disposal of a business(0.20)— — (0.20)
Impairment charges related to investment in Mountain Valley Pipeline— 0.03 — 0.03 
Less related income tax expense (benefit)(c)
0.05 0.10 (0.04)0.11 
Adjusted Earnings (Loss) Per Share$2.09 $1.36 $(0.28)$3.17 
Weighted-average shares outstanding (assuming dilution)2,031 
————————————
(a)Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other.
(b)After tax impact by segment is as follows:FPLNEERCorporate and OtherNextEra Energy
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Net losses (gains) associated with non-qualifying hedges$— $— $(1,729)$(0.85)$232 $0.11 $(1,497)$(0.74)
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net$— $— $(116)$(0.05)$— $— $(116)$(0.05)
Differential membership interests – related$— $— $49 $0.02 $— $— $49 $0.02 
NEP investment gains – net$— $— $963 $0.47 $— $— $963 $0.47 
Gain on disposal of businesses/assets$(300)$(0.15)$(6)$— $— $— $(306)$(0.15)
Impairment charges related to investment in Mountain Valley Pipeline$— $— $38 $0.02 $— $— $38 $0.02 
(c)Includes the effects of rounding.
8


NextEra Energy, Inc.
Condensed Consolidated Statements of Income
(millions, except per share amounts)
(unaudited)
Preliminary
Twelve Months Ended December 31, 2022FPLNEER
Corporate and
Other(a)
NextEra Energy
Operating Revenues$17,282 $3,720 $(46)$20,956 
Operating Expenses
Fuel, purchased power and interchange5,688 836 (135)6,389 
Other operations and maintenance1,857 2,259 312 4,428 
Depreciation and amortization2,695 1,722 86 4,503 
Taxes other than income taxes and other – net1,752 323 2,077 
Total operating expenses – net11,992 5,140 265 17,397 
Gains (losses) on disposal of businesses/assets – net536 (18)522 
Operating Income (Loss)5,294 (884)(329)4,081 
Other Income (Deductions)
Interest expense(768)(128)311 (585)
Equity in earnings (losses) of equity method investees— 202 203 
Allowance for equity funds used during construction105 — 112 
Gains (losses) on disposal of investments and other property – net— 80 — 80 
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net— (461)— (461)
Other net periodic benefit income— — 202 202 
Other – net17 177 200 
Total other income (deductions) – net(646)(123)520 (249)
Income (Loss) before Income Taxes4,648 (1,007)191 3,832 
Income Tax Expense (Benefit)947 (391)30 586 
Net Income (Loss)3,701 (616)161 3,246 
Net Loss Attributable to Noncontrolling Interests— 901 — 901 
Net Income (Loss) Attributable to NextEra Energy, Inc.$3,701 $285 $161 $4,147 
Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss):
Net Income (Loss) Attributable to NextEra Energy, Inc.$3,701 $285 $161 $4,147 
Adjustments – pretax:(b)
Net losses (gains) associated with non-qualifying hedges— 1,641 (751)890 
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net— 453 — 453 
Differential membership interests – related— 116 — 116 
NEP investment gains – net— (243)— (243)
Impairment charges related to investment in Mountain Valley Pipeline— 867 — 867 
Less related income tax expense (benefit)(c)
— (678)190 (488)
Adjusted Earnings (Loss)$3,701 $2,441 $(400)$5,742 
Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)$1.87 $0.14 $0.09 $2.10 
Adjustments – pretax:(b)
Net losses (gains) associated with non-qualifying hedges— 0.83 (0.38)0.45 
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net— 0.23 — 0.23 
Differential membership interests – related— 0.06 — 0.06 
NEP investment gains – net— (0.12)— (0.12)
Impairment charges related to investment in Mountain Valley Pipeline— 0.44 — 0.44 
Less related income tax expense (benefit)(c)
— (0.35)0.09 (0.26)
Adjusted Earnings (Loss) Per Share$1.87 $1.23 $(0.20)$2.90 
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:NEERCorporate and OtherNextEra Energy
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Adjusted EarningsAdjusted
EPS
Net losses (gains) associated with non-qualifying hedges$1,257 $0.63 $(561)$(0.29)$696 $0.34 
Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net$324 $0.17 $— $— $324 $0.17 
Differential membership interests – related$87 $0.04 $— $— $87 $0.04 
NEP investment gains – net$(186)$(0.09)$— $— $(186)$(0.09)
Impairment charges related to investment in Mountain Valley Pipeline$674 $0.34 $— $— $674 $0.34 
(c)Includes the effects of rounding.
9


NextEra Energy, Inc.
Condensed Consolidated Balance Sheets
(millions)
(unaudited)
Preliminary
December 31, 2023FPLNEER
Corporate and
Other(a)
NextEra Energy
ASSETS
Current assets:
Cash and cash equivalents$57 $916 $1,717 $2,690 
Customer receivables, net of allowances1,706 1,905 (2)3,609 
Other receivables319 584 41 944 
Materials, supplies and fuel inventory1,339 763 2,106 
Regulatory assets1,431 28 1,460 
Derivatives13 1,671 46 1,730 
Contract assets— 1,487 — 1,487 
Other131 1,036 168 1,335 
Total current assets4,996 8,390 1,975 15,361 
Other assets:
Property, plant and equipment – net70,608 55,034 134 125,776 
Special use funds6,050 2,648 — 8,698 
Investment in equity method investees— 6,145 11 6,156 
Prepaid benefit costs1,853 254 2,112 
Regulatory assets4,343 226 232 4,801 
Derivatives14 1,766 10 1,790 
Goodwill2,965 2,114 12 5,091 
Other640 6,817 247 7,704 
Total other assets86,473 74,755 900 162,128 
TOTAL ASSETS$91,469 $83,145 $2,875 $177,489 
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Current liabilities:
Commercial paper$2,374 $— $2,276 $4,650 
Other short-term debt255 — — 255 
Current portion of long-term debt1,665 1,031 4,205 6,901 
Accounts payable977 7,547 (20)8,504 
Customer deposits610 28 — 638 
Accrued interest and taxes661 380 (71)970 
Derivatives813 23 845 
Accrued construction-related expenditures486 1,375 — 1,861 
Regulatory liabilities335 340 
Other704 1,908 387 2,999 
Total current liabilities8,076 13,086 6,801 27,963 
Other liabilities and deferred credits:
Long-term debt23,609 10,795 27,001 61,405 
Asset retirement obligations2,143 1,260 — 3,403 
Deferred income taxes8,542 3,776 (2,176)10,142 
Regulatory liabilities9,893 156 — 10,049 
Derivatives2,224 511 2,741 
Other365 2,100 297 2,762 
Total other liabilities and deferred credits44,558 20,311 25,633 90,502 
TOTAL LIABILITIES52,634 33,397 32,434 118,465 
COMMITMENTS AND CONTINGENCIES
REDEEMABLE NONCONTROLLING INTERESTS— 1,256 — 1,256 
EQUITY
Common stock1,373 — (1,352)21 
Additional paid-in capital23,470 14,154 (20,259)17,365 
Retained earnings13,992 24,115 (7,872)30,235 
Accumulated other comprehensive loss— (77)(76)(153)
Total common shareholders' equity38,835 38,192 (29,559)47,468 
Noncontrolling interests— 10,300 — 10,300 
TOTAL EQUITY38,835 48,492 (29,559)57,768 
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY$91,469 $83,145 $2,875 $177,489 
————————————
(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.
10


NextEra Energy, Inc.
Condensed Consolidated Balance SheetsPreliminary
(millions)
(unaudited)
December 31, 2022FPLNEER
Corporate and Other(a)
NextEra Energy
ASSETS
Current assets:
Cash and cash equivalents$25 $731 $845 $1,601 
Customer receivables, net of allowances1,739 2,611 (1)4,349 
Other receivables332 393 19 744 
Materials, supplies and fuel inventory1,159 775 — 1,934 
Regulatory assets2,155 10 — 2,165 
Derivatives19 1,501 70 1,590 
Contract Assets— 318 — 318 
Other124 559 106 789 
Total current assets5,553 6,898 1,039 13,490 
Other assets:
Property, plant and equipment – net64,693 45,840 526 111,059 
Special use funds5,221 2,275 — 7,496 
Investment in equity method investees— 6,572 10 6,582 
Prepaid benefit costs1,732 97 1,832 
Regulatory assets5,484 218 290 5,992 
Derivatives10 1,922 1,935 
Goodwill2,989 1,854 11 4,854 
Other877 5,131 (313)5,695 
Total other assets81,006 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 debt200 68 1,100 1,368 
Current portion of long-term debt1,547 694 4,392 6,633 
Accounts payable1,377 6,919 16 8,312 
Customer deposits543 17 — 560 
Accrued interest and taxes362 236 121 719 
Derivatives12 2,005 85 2,102 
Accrued construction-related expenditures559 1,201 — 1,760 
Regulatory liabilities349 — 350 
Other1,185 1,574 423 3,182 
Total current liabilities7,843 12,715 6,137 26,695 
Other liabilities and deferred credits:
Long-term debt19,455 8,357 27,444 55,256 
Asset retirement obligations2,108 1,137 — 3,245 
Deferred income taxes8,376 2,594 (1,898)9,072 
Regulatory liabilities9,458 157 11 9,626 
Derivatives2,755 153 2,909 
Other398 2,104 194 2,696 
Total other liabilities and deferred credits39,796 17,104 25,904 82,804 
TOTAL LIABILITIES47,639 29,819 32,041 109,499 
COMMITMENTS AND CONTINGENCIES
REDEEMABLE NONCONTROLLING INTERESTS— 1,110 — 1,110 
EQUITY
Common stock1,373 — (1,353)20 
Additional paid-in capital23,561 10,238 (21,079)12,720 
Retained earnings13,986 20,557 (7,836)26,707 
Accumulated other comprehensive loss— (108)(110)(218)
Total common shareholders' equity38,920 30,687 (30,378)39,229 
Noncontrolling interests— 9,097 — 9,097 
TOTAL EQUITY38,920 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.
11


NextEra Energy, Inc.
Condensed Consolidated Statements of Cash Flows
(millions)
(unaudited)
Preliminary
Twelve Months Ended December 31, 2023FPLNEER
Corporate and
Other(a)
NextEra Energy
Cash Flows From Operating Activities
Net income (loss)$4,552 $2,530 $(800)$6,282 
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization3,789 2,009 81 5,879 
Nuclear fuel and other amortization158 83 31 272 
Unrealized losses (gains) on marked to market derivative contracts – net— (2,273)324 (1,949)
Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds – net— (159)— (159)
Foreign currency transaction losses (gains)— (3)95 92 
Deferred income taxes(161)1,002 (133)708 
Cost recovery clauses and franchise fees1,104 — — 1,104 
Equity in losses (earnings) of equity method investees— 649 (1)648 
Distributions of earnings from equity method investees— 712 — 712 
Losses (gains) on disposal of businesses, assets and investments - net(407)(122)(1)(530)
Recoverable storm-related costs(399)— — (399)
Other – net(27)(38)99 34 
Changes in operating assets and liabilities:
Current assets(200)411 (153)58 
Noncurrent assets(185)(143)(80)(408)
Current liabilities60 (1,010)(159)(1,109)
Noncurrent liabilities12 (109)163 66 
Net cash provided by (used in) operating activities8,296 3,539 (534)11,301 
Cash Flows From Investing Activities
Capital expenditures of FPL(9,302)— — (9,302)
Independent power and other investments of NEER— (15,565)— (15,565)
Nuclear fuel purchases(98)(87)— (185)
Other capital expenditures— — (61)(61)
Proceeds from the sale of Florida City Gas business924 — — 924 
Sale of independent power and other investments of NEER— 1,883 — 1,883 
Proceeds from sale or maturity of securities in special use funds and other investments3,730 990 155 4,875 
Purchases of securities in special use funds and other investments(3,754)(1,440)(732)(5,926)
Other – net(15)(514)419 (110)
Net cash used in investing activities(8,515)(14,733)(219)(23,467)
Cash Flows From Financing Activities
Issuances of long-term debt, including premiums and discounts5,678 3,532 4,647 13,857 
Retirements of long-term debt(1,548)(618)(5,812)(7,978)
Proceeds from differential membership investors— 2,745 — 2,745 
Net change in commercial paper665 — 2,276 2,941 
Proceeds from other short-term debt55 — 1,925 1,980 
Repayments of other short-term debt— (38)(2,575)(2,613)
Payments from related parties under a cash sweep and credit support agreement – net— 1,213 — 1,213 
Issuances of common stock/equity units – net— — 4,514 4,514 
Dividends on common stock— — (3,782)(3,782)
Dividends & capital distributions from (to) parent – net(4,545)3,863 682 — 
Other – net(72)(407)(249)(728)
Net cash provided by financing activities233 10,290 1,626 12,149 
Effects of currency translation on cash, cash equivalents and restricted cash (4) (4)
Net increase (decrease) in cash, cash equivalents and restricted cash14 (908)873 (21)
Cash, cash equivalents and restricted cash at beginning of year58 2,533 850 3,441 
Cash, cash equivalents and restricted cash at end of year$72 $1,625 $1,723 $3,420 
————————————
(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.
12


NextEra Energy, Inc.
Condensed Consolidated Statements of Cash Flows
(millions)
(unaudited)
Preliminary
Twelve Months Ended December 31, 2022FPLNEER
Corporate and
Other(a)
NextEra Energy
Cash Flows From Operating Activities
Net income (loss)$3,701 $(616)$161 $3,246 
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization2,695 1,722 86 4,503 
Nuclear fuel and other amortization177 72 38 287 
Unrealized losses (gains) on marked to market derivative contracts – net— 1,792 (414)1,378 
Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds – net— 461 — 461 
Foreign currency transaction losses (gains)— (6)(98)(104)
Deferred income taxes942 (453)45 534 
Cost recovery clauses and franchise fees(1,465)— — (1,465)
Equity in losses (earnings) of equity method investees— (202)(1)(203)
Distributions of earnings from equity method investees— 541 — 541 
Losses (gains) on disposal of businesses, assets and investments – net(4)(616)18 (602)
Recoverable storm-related costs(811)— — (811)
Other – net20 (46)111 85 
Changes in operating assets and liabilities:
Current assets(534)(549)(257)(1,340)
Noncurrent assets(73)24 (40)(89)
Current liabilities175 1,220 307 1,702 
Noncurrent liabilities71 (35)103 139 
Net cash provided by (used in) operating activities4,894 3,309 59 8,262 
Cash Flows From Investing Activities
Capital expenditures of FPL(9,067)— — (9,067)
Independent power and other investments of NEER— (9,541)— (9,541)
Nuclear fuel purchases(118)(104)(1)(223)
Other capital expenditures— — (452)(452)
Sale of independent power and other investments of NEER— 1,564 — 1,564 
Proceeds from sale or maturity of securities in special use funds and other investments2,437 1,085 335 3,857 
Purchases of securities in special use funds and other investments(2,607)(1,612)(367)(4,586)
Other – net(3)(74)166 89 
Net cash used in investing activities(9,358)(8,682)(319)(18,359)
Cash Flows From Financing Activities
Issuances of long-term debt, including premiums and discounts2,942 2,289 8,625 13,856 
Retirements of long-term debt(441)(592)(3,492)(4,525)
Proceeds from differential membership investors— 4,158 — 4,158 
Net change in commercial paper327 — — 327 
Proceeds from other short-term debt— 30 1,725 1,755 
Repayments of other short-term debt— — (1,125)(1,125)
Payments from related parties under a cash sweep and credit support agreement – net— 240 — 240 
Issuances of common stock/equity units – net— — 1,460 1,460 
Dividends on common stock— — (3,352)(3,352)
Dividends & capital distributions from (to) parent – net1,625 736 (2,361)— 
Other – net(39)(132)(394)(565)
Net cash provided by financing activities4,414 6,729 1,086 12,229 
Effects of currency translation on cash, cash equivalents and restricted cash (7) (7)
Net increase (decrease) in cash, cash equivalents and restricted cash(50)1,349 826 2,125 
Cash, cash equivalents and restricted cash at beginning of year108 1,184 24 1,316 
Cash, cash equivalents and restricted cash at end of year$58 $2,533 $850 $3,441 
————————————
(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.
13


NextEra Energy, Inc.
Earnings (Loss) Per Share Contributions
(assuming dilution)
(unaudited)
Preliminary
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Year-To-Date
2022 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc.$(0.23)$0.70 $0.86 $0.76 $2.10 
FPL – 2022 Earnings Per Share$0.44 $0.50 $0.54 $0.38 $1.87 
New investment growth0.06 0.06 0.06 0.06 0.23 
Gain on disposal of a business— — — 0.15 0.15 
Other and share dilution0.03 0.01 (0.02)(0.03)(0.01)
FPL – 2023 Earnings Per Share$0.53 $0.57 $0.58 $0.56 $2.24 
NEER – 2022 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc.$(0.76)$0.07 $0.33 $0.50 $0.14 
New investments0.07 0.10 0.11 0.07 0.35 
Existing clean energy(0.03)(0.05)(0.02)— (0.11)
Gas infrastructure(0.01)— 0.01 (0.01)(0.01)
Customer supply and proprietary power & gas trading0.06 0.08 0.04 (0.02)0.16 
Non-qualifying hedges impact1.03 0.50 (0.05)0.03 1.48 
NEP investment gains – net0.03 — (0.49)(0.11)(0.56)
Change in unrealized gains (losses) on securities held in NEER's nuclear decommissioning funds and OTTI – net0.08 0.11 0.03 0.02 0.22 
Impairment charges related to investment in Mountain Valley Pipeline0.30 — 0.01 0.01 0.32 
Other, including interest expense, corporate general and administrative expenses and share dilution(0.05)(0.09)(0.08)(0.06)(0.24)
NEER – 2023 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc.$0.72 $0.72 $(0.11)$0.43 $1.75 
Corporate and Other – 2022 Earnings (Loss) Per Share$0.09 $0.13 $(0.01)$(0.12)$0.09 
Non-qualifying hedges impact(0.27)— 0.15 (0.28)(0.40)
Other, including interest expense and share dilution(0.03)(0.04)(0.01)— (0.08)
Corporate and Other – 2023 Earnings (Loss) Per Share$(0.21)$0.09 $0.13 $(0.40)$(0.39)
2023 Earnings Per Share Attributable to NextEra Energy, Inc.$1.04 $1.38 $0.60 $0.59 $3.60 
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.
14