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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) $ 1,937 $ 1,785
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 898 822
Nuclear fuel and other amortization 90 71
Unrealized gains on marked to market derivative contracts – net (351) (610)
Foreign currency transaction gains (26) (2)
Deferred income taxes 398 349
Cost recovery clauses and franchise fees 308 263
Equity in earnings of equity method investees (203) (101)
Distributions of earnings from equity method investees 170 217
Losses (gains) on disposal of businesses, assets and investments – net (73) 6
Recoverable storm-related costs (31) (188)
Other – net (62) (222)
Changes in operating assets and liabilities:    
Current assets 330 1,167
Noncurrent assets (2) (90)
Current liabilities (353) (1,742)
Noncurrent liabilities 47 (52)
Net cash provided by operating activities 3,077 1,673
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures of FPL (2,237) (2,241)
Independent power and other investments of NEER (7,243) (4,951)
Nuclear fuel purchases (140) (47)
Other capital expenditures (91) (6)
Sale of independent power and other investments of NEER 565 305
Proceeds from sale or maturity of securities in special use funds 951 760
Purchases of securities in special use funds (1,078) (1,613)
Other – net (48) (24)
Net cash used in investing activities (9,321) (7,817)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuances of long-term debt, including premiums and discounts 7,811 6,655
Retirements of long-term debt (3,994) (2,601)
Net change in commercial paper (308) 1,135
Proceeds from other short-term debt 3,408 700
Repayments of other short-term debt (155) (200)
Payments to related parties under a cash sweep and credit support agreement – net (68) (277)
Issuances of common stock/equity units – net 6 2,502
Dividends on common stock (1,058) (930)
Other – net (604) (94)
Net cash provided by financing activities 5,038 6,890
Effects of currency translation on cash, cash equivalents and restricted cash (1) 2
Net increase (decrease) in cash, cash equivalents and restricted cash (1,207) 748
Cash, cash equivalents and restricted cash at beginning of period 3,420 3,441
Cash, cash equivalents and restricted cash at end of period 2,213 4,189
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (net of amount capitalized) 519 549
Cash paid (received) for income taxes – net (195) 2
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued property additions 2,702 5,522
Florida Power & Light Company    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) [1] 1,172 1,070
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 303 335
Nuclear fuel and other amortization 44 40
Deferred income taxes 175 220
Cost recovery clauses and franchise fees 308 263
Recoverable storm-related costs (31) (188)
Other – net (18) 5
Changes in operating assets and liabilities:    
Current assets 183 172
Noncurrent assets (20) (54)
Current liabilities 145 (200)
Noncurrent liabilities 4 16
Net cash provided by operating activities 2,265 1,679
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (2,237) (2,241)
Nuclear fuel purchases (108) (33)
Proceeds from sale or maturity of securities in special use funds 690 486
Purchases of securities in special use funds (729) (523)
Other – net (9) (16)
Net cash used in investing activities (2,393) (2,327)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuances of long-term debt, including premiums and discounts 0 2,494
Retirements of long-term debt (1,220) (15)
Net change in commercial paper (2,024) (1,709)
Repayments of other short-term debt (55) 0
Capital contributions from NEE   0
Other – net (8) (39)
Net cash provided by financing activities 93 731
Net increase (decrease) in cash, cash equivalents and restricted cash (35) 83
Cash, cash equivalents and restricted cash at beginning of period 72 58
Cash, cash equivalents and restricted cash at end of period 37 141
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (net of amount capitalized) 192 191
Cash paid (received) for income taxes – net 65 45
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued property additions $ 705 $ 804
[1] FPL's comprehensive income is the same as reported net income.