Equity

3 Months Ended

Mar. 31, 2021

Earnings Per Share - The reconciliation of NEE's basic and diluted earnings per share attributable to NEE is as follows:


	Three Months Ended March 31,
		2021		2020
		(millions, except per share amounts)



Numerator - net income attributable to NEE(a)		$	1,666	$	421

Denominator:
Weighted-average number of common shares outstanding - basic		1,961.6		1,957.0
Equity units, stock options, performance share awards and restricted stock(b)		11.4		10.0
Weighted-average number of common shares outstanding - assuming dilution		1,973.0		1,967.0
Earnings per share attributable to NEE:
Basic		$	0.85	$	0.21
Assuming dilution		$	0.84	$	0.21

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(a)The NEP Series A convertible preferred units and the NEP senior unsecured convertible notes issued in 2017 were both antidilutive for the three months ended March 31, 2020. The NEP senior unsecured convertible notes issued in 2020 were not materially dilutive for the three months ended March 31, 2021.

(b)Calculated using the treasury stock method. Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.

Common shares issuable pursuant to equity units, stock options and/or performance share awards, as well as restricted stock which were not included in the denominator above due to their antidilutive effect were approximately 58.4 million and 24.7 million for the three months ended March 31, 2021 and 2020, respectively.

On September 14, 2020, NEE's board of directors approved a four-for-one split of NEE common stock effective October 26, 2020. NEE's authorized common stock increased from 800 million to 3.2 billion shares. Prior year's share and share-based data included in NEE's condensed consolidated financial statements have been retrospectively adjusted to reflect the 2020 stock split.

Accumulated Other Comprehensive Income (Loss) - The components of AOCI, net of tax, are as follows:


	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges			Net Unrealized Gains (Losses) on Available for Sale Securities			Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation		Other Comprehensive Income (Loss) Related to Equity Method Investees		Total
	(millions)
Three Months Ended March 31, 2021
Balances, December 31, 2020	$	8		$	20		$	(75)		$	(49)	$	4	$	(92)
Other comprehensive income (loss) before reclassifications	—			(8)			—			6		—		(2)
Amounts reclassified from AOCI	2		(a)	(3)		(b)	1		(c)	—		—		—
Net other comprehensive income (loss)	2			(11)			1			6		—		(2)

Less other comprehensive income (loss) attributable to noncontrolling interests	—			—			—			(2)		—		(2)
Balances, March 31, 2021	$	10		$	9		$	(74)		$	(45)	$	4	$	(96)
Attributable to noncontrolling interests	$	—		$	—		$	—		$	2	$	—	$	2
Attributable to NEE	$	10		$	9		$	(74)		$	(47)	$	4	$	(98)

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(a)Reclassified to interest expense in NEE's condensed consolidated statements of income. See Note 2 - Income Statement Impact of Derivative Instruments.

(b)Reclassified to gains on disposal of investments and other property - net in NEE's condensed consolidated statements of income.

(c)Reclassified to other net periodic benefit income in NEE's condensed consolidated statements of income.


	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges			Net Unrealized Gains (Losses) on Available for Sale Securities			Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation			Other Comprehensive Income (Loss) Related to Equity Method Investees		Total
	(millions)
Three Months Ended March 31, 2020
Balances, December 31, 2019	$	(27)		$	11		$	(114)		$	(42)		$	3	$	(169)
Other comprehensive income (loss) before reclassifications	—			(8)			—			(35)			—		(43)
Amounts reclassified from AOCI	2		(a)	(1)		(b)	3		(c)	—			—		4
Net other comprehensive income (loss)	2			(9)			3			(35)			—		(39)


Impact of disposal of a business	23		(d)	—			—			(13)		(d)	—		10
Balances, March 31, 2020	$	(2)		$	2		$	(111)		$	(90)		$	3	$	(198)
Attributable to noncontrolling interests	$	—		$	—		$	—		$	(6)		$	—	$	(6)
Attributable to NEE	$	(2)		$	2		$	(111)		$	(84)		$	3	$	(192)

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(a)Reclassified to interest expense in NEE's condensed consolidated statements of income. See Note 2 - Income Statement Impact of Derivative Instruments.

(b)Reclassified to gains on disposal of investments and other property - net in NEE's condensed consolidated statements of income.

(c)Reclassified to other net periodic benefit income in NEE's condensed consolidated statements of income.

(d)Reclassified to gains on disposal of businesses/assets - net and interest expense in NEE's condensed consolidated statements of income. See Note 2 - Income Statement Impact of Derivative Instruments. See Note 11 - Disposal of a Business.