Long-term debt consists of the following:



		December 31,
		2018						2017
	Maturity Date	Balance				Weighted- Average Interest Rate		Balance				Weighted- Average Interest Rate
		(millions)						(millions)
FPL:
First mortgage bonds - fixed	2020-2048	$	10,626			4.60	%	$	9,145			4.70	%
Storm-recovery bonds - fixed^(a)	2021	74				5.26	%	144				5.26	%
Pollution control, solid waste disposal and industrial development revenue bonds - primarily variable^(b)	2020-2048	1,022				2.04	%	966				2.12	%
Senior unsecured notes - variable^(c)(d)	2068	193				2.40	%	—
Other long-term debt - variable^(d)	2018-2021	—						1,501				2.01	%
Unamortized debt issuance costs and discount		(132		)				(105		)
Total long-term debt of FPL		11,783						11,651
Less current portion of long-term debt		95						464
Long-term debt of FPL, excluding current portion		11,688						11,187
NEECH:
Debentures - fixed^(e)	2018-2027	4,300				3.21	%	4,100				3.00	%
Debentures - variable^(d)	2019-2021	2,341				3.11	%	—
Debentures, related to NEE's equity units - fixed	2020-2021	1,500				1.65	%	2,200				1.88	%
Junior subordinated debentures - primarily fixed^(e)	2057-2077	3,456				4.99	%	3,456				4.79	%
Japanese yen denominated senior notes - fixed^(e)	2030	91				5.13	%	89				5.13	%
Japanese yen denominated term loans - variable^(d)(e)	2020	546				2.76	%	532				2.76	%
Other long-term debt - fixed	2018-2044	818				2.57	%	920				2.46	%
Other long-term debt - variable^(d)	2019-2023	50				3.53	%	52				2.58	%
Fair value hedge adjustment		(1		)				1
Unamortized debt issuance costs and discount		(88		)				(94		)
Total long-term debt of NEECH		13,013						11,256
Less current portion of long-term debt		2,019						645
Long-term debt of NEECH, excluding current portion		10,994						10,611
NEER:
Senior secured limited-recourse bonds and notes - fixed^(f)	2020-2038	325				4.25	%	2,114				5.74	%
Senior secured limited-recourse term loans - primarily variable^(d)(e)	2019-2037	3,869				4.39	%	5,165				3.32	%
Senior unsecured notes - fixed^(e)	2024-2027	—						1,100				4.38	%
Senior unsecured NEP convertible notes - fixed^(g)	2020	—						300				1.50	%
Other long-term debt - primarily variable^(d)	2018-2040	601				2.57	%	1,678			^(e)	3.28	%
Unamortized debt issuance costs and premium - net		(93		)				(181		)
Total long-term debt of NEER		4,702						10,176
Less current portion of long-term debt		602			^(h)			564
Long-term debt of NEER, excluding current portion		4,100						9,612
Total long-term debt		$	26,782					$	31,410

______________________


(a)	Principal on the storm-recovery bonds is due on the final maturity date (the date by which the principal must be repaid to prevent a default) for each tranche, however, it is being paid semiannually and sequentially.

(b)

Includes approximately $893 million of variable rate tax exempt bonds that permit individual bondholders to tender the bonds for purchase at any time prior to maturity. In the event these variable rate tax exempt bonds are tendered for purchase, they would be remarketed by a designated remarketing agent in accordance with the related indenture. If the remarketing is unsuccessful, FPL would be required to purchase the variable rate tax exempt bonds. At December 31, 2018, all variable rate tax exempt bonds tendered for purchase have been successfully remarketed. FPL's bank revolving line of credit facilities are available to support the purchase of the variable rate tax exempt bonds. Variable interest rate is established at various intervals by the remarketing agent.


(c)	Permit individual noteholders to require repayment prior to maturity, of which approximately $94 million can be required to be repaid beginning in June 2019 and the remainder beginning in November 2019. FPL’s bank revolving line of credit facilities are available to support the purchase of the senior unsecured notes.


(d)	Variable rate is based on an underlying index plus a margin.


(e)	Interest rate contracts, primarily swaps, have been entered into with respect to certain of these debt issuances. Additionally, foreign currency contracts have been entered into with respect to the Japanese yen denominated debt. See Note 4.


(f)	Includes approximately $483 million in 2017 of debt held by a wholly owned subsidiary of NEER and collateralized by a third-party note receivable held by that subsidiary. See Note 9 - NEER.


(g)	A holder may convert all or any portion of its notes into NEP common units and cash in lieu of any fractional common unit at the conversion rate. At December 31, 2017, the conversion rate, subject to certain adjustments, was 18.9170 NEP common units per $1,000 principal amount of the convertible notes.


(h)	Includes $365 million of debt as a result of events of default under certain financings caused by the bankruptcy filing of a counterparty to several PPAs.