Summarized Financial Information of NEECH (Tables)

3 Months Ended

Mar. 31, 2018

Summarized Financial Information [Abstract]

Condensed Consolidating Statements of Income



	Three Months Ended March 31,
	2018												2017
	NEE (Guarantor)			NEECH			Other^(a)			NEE Consoli- dated			NEE (Guarantor)^(b)			NEECH			Other^(a)			NEE Consoli- dated^(b)
										(millions)
Operating revenues	$	—		$	1,277		$	2,586		$	3,863		$	—		$	1,462		$	2,510		$	3,972
Operating expenses - net	(56		)	(878		)	(1,882		)	(2,816		)	(49		)	150			(1,711		)	(1,610		)
Interest expense	(1		)	(91		)	(134		)	(226		)	—			(241		)	(119		)	(360		)
Equity in earnings of subsidiaries	4,361			—			(4,361		)	—			1,563			—			(1,563		)	—
Gain on NEP deconsolidation	—			3,935			—			3,935			—			—			—			—
Other income (deduction) - net	51			250			23			324			43			229			(8		)	264
Income (loss) before income taxes	4,355			4,493			(3,768		)	5,080			1,557			1,600			(891		)	2,266
Income tax expense (benefit)	(73		)	1,210			112			1,249			(26		)	450			251			675
Net income (loss)	4,428			3,283			(3,880		)	3,831			1,583			1,150			(1,142		)	1,591
Net (income) loss attributable to noncontrolling interests	—			597			—			597			—			(8		)	—			(8		)
Net income (loss) attributable to NEE	$	4,428		$	3,880		$	(3,880	)	$	4,428		$	1,583		$	1,142		$	(1,142	)	$	1,583

———————————————


(a)	Represents primarily FPL and consolidating adjustments.


(b)	Prior period amounts have been retrospectively adjusted as discussed in Note 3 - Amendments to Presentation of Retirement Benefits.

Condensed Consolidating Statements of Comprehensive Income



	Three Months Ended March 31,
	2018									2017
	NEE (Guarantor)		NEECH		Other^(a)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other^(a)			NEE Consoli- dated
								(millions)
Comprehensive income (loss) attributable to NEE	$	4,467	$	3,921	$	(3,921	)	$	4,467	$	1,613	$	1,175	$	(1,175	)	$	1,613

———————————————


(a)	Represents primarily FPL and consolidating adjustments.

Condensed Consolidating Balance Sheets



	March 31, 2018												December 31, 2017
	NEE (Guaran- tor)			NEECH			Other^(a)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other^(a)			NEE Consoli- dated
										(millions)
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	$	31		$	35,292		$	52,792		$	88,115		$	20		$	41,782		$	51,981		$	93,783
Accumulated depreciation and amortization	(26		)	(7,868		)	(13,025		)	(20,919		)	(15		)	(8,551		)	(12,801		)	(21,367		)
Total property, plant and equipment - net	5			27,424			39,767			67,196			5			33,231			39,180			72,416
CURRENT ASSETS
Cash and cash equivalents	3			521			26			550			1			1,679			34			1,714
Receivables	265			1,488			636			2,389			442			1,633			662			2,737
Other	5			1,323			1,345			2,673			5			1,283			1,418			2,706
Total current assets	273			3,332			2,007			5,612			448			4,595			2,114			7,157
OTHER ASSETS
Investment in subsidiaries	32,417						(32,417		)	—			27,825			—			(27,825		)	—
Investment in equity method investees	—			6,774			—			6,774			—			2,321			—			2,321
Other	657			6,131			7,914			14,702			591			7,620			7,722			15,933
Total other assets	33,074			12,905			(24,503		)	21,476			28,416			9,941			(20,103		)	18,254
TOTAL ASSETS	$	33,352		$	43,661		$	17,271		$	94,284		$	28,869		$	47,767		$	21,191		$	97,827
CAPITALIZATION
Common shareholders' equity	$	32,706		$	14,011		$	(14,011	)	$	32,706		$	28,208		$	10,745		$	(10,745	)	$	28,208
Noncontrolling interests	—			3,287			—			3,287			—			1,290			—			1,290
Long-term debt	—			16,259			11,803			28,062			—			20,227			11,236			31,463
Total capitalization	32,706			33,557			(2,208		)	64,055			28,208			32,262			491			60,961
CURRENT LIABILITIES
Debt due within one year	—			2,484			1,653			4,137			—			1,215			2,403			3,618
Accounts payable	1			1,158			589			1,748			3			2,427			805			3,235
Other	524			1,745			1,425			3,694			325			2,073			1,981			4,379
Total current liabilities	525			5,387			3,667			9,579			328			5,715			5,189			11,232
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	—			927			2,071			2,998			—			984			2,047			3,031
Deferred income taxes	(282		)	2,551			4,738			7,007			(82		)	1,247			4,589			5,754
Other	403			1,239			9,003			10,645			415			7,559			8,875			16,849
Total other liabilities and deferred credits	121			4,717			15,812			20,650			333			9,790			15,511			25,634
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	33,352		$	43,661		$	17,271		$	94,284		$	28,869		$	47,767		$	21,191		$	97,827

———————————————


(a)	Represents primarily FPL and consolidating adjustments.

Condensed Cash Flow Statement

Condensed Consolidating Statements of Cash Flows



	Three Months Ended March 31,
	2018												2017^(a)
	NEE (Guaran- tor)			NEECH			Other^(b)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other^(b)			NEE Consoli- dated
										(millions)
NET CASH PROVIDED BY OPERATING ACTIVITIES	$	1,392		$	503		$	(605	)	$	1,290		$	522		$	493		$	243		$	1,258
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases	—			(2,385		)	(1,203		)	(3,588		)	—			(3,413		)	(1,766		)	(5,179		)
Proceeds from sale of the fiber-optic telecommunications business	—			—			—			—			—			1,484			—			1,484
Capital contributions from NEE	(853		)	—			853			—			(38		)	—			38			—
Proceeds from sale or maturity of securities in special use funds and other investments	—			489			430			919			—			243			492			735
Purchases of securities in special use funds and other investments	—			(506		)	(533		)	(1,039		)	—			(285		)	(519		)	(804		)
Other - net	12			11			18			41			1			27			66			94
Net cash used in investing activities	(841		)	(2,391		)	(435		)	(3,667		)	(37		)	(1,944		)	(1,689		)	(3,670		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	—			804			1,000			1,804			—			489			200			689
Retirements of long-term debt	—			(155		)	(787		)	(942		)	—			(514		)	(34		)	(548		)
Net change in commercial paper	—			1,403			(126		)	1,277			—			1,085			956			2,041
Proceeds from other short-term debt	—			—			—			—			—			—			200			200
Repayments of other short-term debt	—			—			(250		)	(250		)	—			—			—			—
Issuances of common stock - net	7			—			—			7			7			—			—			7
Dividends on common stock	(523		)	—			—			(523		)	(460		)	—			—			(460		)
Contributions from (dividends to) NEE	—			(1,191		)	1,191			—			—			(89		)	89			—
Other - net	(33		)	(9		)	(20		)	(62		)	(32		)	(224		)	10			(246		)
Net cash provided by (used in) financing activities	(549		)	852			1,008			1,311			(485		)	747			1,421			1,683
Effects of currency translation on cash, cash equivalents and restricted cash	—			(9		)	—			(9		)	—			—			—			—
Net increase (decrease) in cash, cash equivalents and restricted cash	2			(1,045		)	(32		)	(1,075		)	—			(704		)	(25		)	(729		)
Cash, cash equivalents and restricted cash at beginning of period	1			1,807			175			1,983			1			1,375			153			1,529
Cash, cash equivalents and restricted cash at end of period	$	3		$	762		$	143		$	908		$	1		$	671		$	128		$	800

———————————————


(a)	Prior period amounts have been retrospectively adjusted as discussed in Note 10 - Restricted Cash.


(b)	Represents primarily FPL and consolidating adjustments.