Summarized Financial Information of NEECH (Tables)

3 Months Ended

Mar. 31, 2019

Summarized Financial Information [Abstract]

Condensed Consolidating Statements of Income



	Three Months Ended March 31,
	2019												2018^(a)
	NEE (Guarantor)			NEECH			Other^(b)			NEE Consoli- dated			NEE (Guarantor)			NEECH			Other^(b)			NEE Consoli- dated
										(millions)
Operating revenues	$	—		$	1,167		$	2,908		$	4,075		$	—		$	1,271		$	2,586		$	3,857
Operating expenses - net	(57		)	(875		)	(2,008		)	(2,940		)	(56		)	(859		)	(1,883		)	(2,798		)
Interest expense	—			(561		)	(153		)	(714		)	(1		)	(92		)	(133		)	(226		)
Equity in earnings of subsidiaries	694			—			(694		)	—			4,364			—			(4,364		)	—
Equity in earnings of equity method investees	—			16			—			16			—			197			—			197
Gain on NEP deconsolidation	—			—			—			—			—			3,927			—			3,927
Other income - net	51			166			26			243			51			53			23			127
Income (loss) before income taxes	688			(87		)	79			680			4,358			4,497			(3,771		)	5,084
Income tax expense (benefit)	8			(94		)	160			74			(73		)	1,211			112			1,250
Net income (loss)	680			7			(81		)	606			4,431			3,286			(3,883		)	3,834
Net loss attributable to noncontrolling interests	—			74			—			74			—			597			—			597
Net income (loss) attributable to NEE	$	680		$	81		$	(81	)	$	680		$	4,431		$	3,883		$	(3,883	)	$	4,431

———————————————


(a)	Amounts have been retrospectively adjusted for an accounting standards update related to leases.


(b)	Represents primarily FPL and consolidating adjustments.

Condensed Consolidating Statements of Comprehensive Income



	Three Months Ended March 31,
	2019									2018^(a)
	NEE (Guarantor)		NEECH		Other^(b)			NEE Consoli- dated		NEE (Guarantor)		NEECH		Other^(b)			NEE Consoli- dated
								(millions)
Comprehensive income (loss) attributable to NEE	$	656	$	110	$	(110	)	$	656	$	4,470	$	3,924	$	(3,924	)	$	4,470

———————————————


(a)	Amounts have been retrospectively adjusted for an accounting standards update related to leases.


(b)	Represents primarily FPL and consolidating adjustments.

Condensed Consolidating Balance Sheets



	March 31, 2019												December 31, 2018
	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	$	300		$	36,804		$	61,054		$	98,158		$	220		$	37,145		$	54,718		$	92,083
Accumulated depreciation and amortization	(71		)	(8,571		)	(14,722		)	(23,364		)	(58		)	(8,473		)	(13,218		)	(21,749		)
Total property, plant and equipment - net	229			28,233			46,332			74,794			162			28,672			41,500			70,334
CURRENT ASSETS
Cash and cash equivalents	1			842			129			972			(1		)	525			114			638
Receivables	202			1,638			1,134			2,974			292			1,771			906			2,969
Other	5			2,777			1,494			4,276			5			1,425			1,356			2,786
Total current assets	208			5,257			2,757			8,222			296			3,721			2,376			6,393
OTHER ASSETS
Investment in subsidiaries	33,850			—			(33,850		)	—			33,397			—			(33,397		)	—
Investment in equity method investees	—			6,735			—			6,735			—			6,748			—			6,748
Goodwill	1			589			2,898			3,488			1			587			303			891
Other	516			5,931			9,343			15,790			937			5,890			12,509			19,336
Total other assets	34,367			13,255			(21,609		)	26,013			34,335			13,225			(20,585		)	26,975
TOTAL ASSETS	$	34,804		$	46,745		$	27,480		$	109,029		$	34,793		$	45,618		$	23,291		$	103,702
CAPITALIZATION
Common shareholders' equity	$	34,226		$	7,463		$	(7,463	)	$	34,226		$	34,144		$	7,917		$	(7,917	)	$	34,144
Noncontrolling interests	—			3,614			—			3,614			—			3,269			—			3,269
Redeemable noncontrolling interests	—			71			—			71			—			468			—			468
Long-term debt	—			16,199			13,684			29,883			—			15,094			11,688			26,782
Total capitalization	34,226			27,347			6,221			67,794			34,144			26,748			3,771			64,663
CURRENT LIABILITIES
Debt due within one year	—			9,878			452			10,330			—			9,579			1,351			10,930
Accounts payable	7			1,615			776			2,398			32			1,730			624			2,386
Other	318			2,822			2,058			5,198			168			2,364			1,715			4,247
Total current liabilities	325			14,315			3,286			17,926			200			13,673			3,690			17,563
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	—			1,007			2,343			3,350			—			988			2,147			3,135
Deferred income taxes	(381		)	2,663			5,768			8,050			(157		)	2,778			4,746			7,367
Other	634			1,413			9,862			11,909			606			1,431			8,937			10,974
Total other liabilities and deferred credits	253			5,083			17,973			23,309			449			5,197			15,830			21,476
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	34,804		$	46,745		$	27,480		$	109,029		$	34,793		$	45,618		$	23,291		$	103,702

———————————————


(a)	Represents primarily FPL and consolidating adjustments.

Condensed Cash Flow Statement

Condensed Consolidating Statements of Cash Flows



	Three Months Ended March 31,
	2019												2018^(a)
	NEE (Guaran- tor)			NEECH			Other^(b)			NEE Consoli- dated			NEE (Guaran- tor)			NEECH			Other^(b)			NEE Consoli- dated
										(millions)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$	979		$	353		$	265		$	1,597		$	1,391		$	503		$	(603	)	$	1,291
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power and other investments and nuclear fuel purchases	(108		)	(1,224		)	(5,697		)	(7,029		)	—			(2,385		)	(1,203		)	(3,588		)
Capital contributions from NEE	(276		)	—			276			—			(853		)	—			853			—
Proceeds from sale or maturity of securities in special use funds and other investments	—			404			562			966			—			489			430			919
Purchases of securities in special use funds and other investments	—			(423		)	(596		)	(1,019		)	—			(506		)	(533		)	(1,039		)
Other - net	12			104			21			137			12			11			18			41
Net cash used in investing activities	(372		)	(1,139		)	(5,434		)	(6,945		)	(841		)	(2,391		)	(435		)	(3,667		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	—			2,051			717			2,768			—			804			1,000			1,804
Retirements of long-term debt	—			(127		)	(39		)	(166		)	—			(155		)	(787		)	(942		)
Net change in commercial paper	—			412			(860		)	(448		)	—			1,403			(126		)	1,277
Repayments of other short-term debt	—			(50		)	—			(50		)	—			—			(250		)	(250		)
Payments from (to) related parties under CSCS agreement - net	—			(24		)	—			(24		)	—			—			2			2
Issuances of common stock - net	20			—			—			20			7			—			—			7
Dividends on common stock	(598		)	—			—			(598		)	(523		)	—			—			(523		)
Contributions from (dividends to) NEE	—			(895		)	895			—			—			(1,191		)	1,191			—
Other - net	(27		)	(38		)	(10		)	(75		)	(32		)	(9		)	(24		)	(65		)
Net cash provided by (used in) financing activities	(605		)	1,329			703			1,427			(548		)	852			1,006			1,310
Effects of currency translation on cash, cash equivalents and restricted cash	—			9			—			9			—			(9		)	—			(9		)
Net increase (decrease) in cash, cash equivalents and restricted cash	2			552			(4,466		)	(3,912		)	2			(1,045		)	(32		)	(1,075		)
Cash, cash equivalents and restricted cash at beginning of period	(1		)	533			4,721			5,253			1			1,807			175			1,983
Cash, cash equivalents and restricted cash at end of period	$	1		$	1,085		$	255		$	1,341		$	3		$	762		$	143		$	908

———————————————


(a)	Amounts have been retrospectively adjusted for an accounting standards update related to leases.


(b)	Represents primarily FPL and consolidating adjustments.