11-K 1 d763097d11k.htm FORM 11-K Form 11-K
Table of Contents

 

 

 

LOGO

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 11-K

 

 

 

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2018

OR

 

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 1-8841

 

 

NextEra Energy, Inc. Employee Retirement Savings Plan

(Full title of the plan)

 

 

NextEra Energy, Inc.

(Name of issuer of the securities held pursuant to the plan)

 

 

700 Universe Boulevard

Juno Beach, Florida 33408

(Address of principal executive office)

 

 

 


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

TABLE OF CONTENTS

 

     Page No.  

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

     1  

FINANCIAL STATEMENTS

  

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER  31, 2018 AND 2017

     2-3  

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2018

     4  

NOTES TO FINANCIAL STATEMENTS

     5  

SUPPLEMENTAL SCHEDULE

  

SCHEDULE H Line 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

     14  

SIGNATURE

     24  

EXHIBIT INDEX

     25  

EXHIBIT 23(a) – CONSENT OF CROWE LLP

  


Table of Contents

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Participants and the Employee Benefit Plans

    Administrative Committee

NextEra Energy, Inc. Employee Retirement Savings Plan

Juno Beach, Florida

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of NextEra Energy, Inc. Employee Retirement Savings Plan (the “Plan”) as of December 31, 2018 and 2017, the related statement of changes in net assets available for benefits for the year ended December 31, 2018, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2018 and 2017, and the changes in net assets available for benefits for the year ended December 31, 2018, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting in accordance with the standards of the PCAOB. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Information

The supplemental Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2018 has been subjected to audit procedures performed in conjunction with the audit of NextEra Energy, Inc. Employee Retirement Savings Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information presented in the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated in all material respects in relation to the financial statements as a whole.

 

LOGO

Crowe LLP

 

We have served as the Plan’s auditor since 2007.
Oak Brook, Illinois
June 27, 2019

 

1


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2018 AND 2017

 

     December 31, 2018  
     Participant-      Nonparticipant-         
     Directed      Directed      Total  

ASSETS

        

Investments, at fair value (see Note 6)

        

Registered investment companies

   $ 394,120,141      $ 10,305,952      $ 404,426,093  

Collective trust funds

     1,444,410,489        —          1,444,410,489  

Common stock other than NextEra Energy, Inc. common stock

     410,263,616        —          410,263,616  

NextEra Energy, Inc. common stock

     514,043,592        1,286,379,575        1,800,423,167  
  

 

 

    

 

 

    

 

 

 

Total investments, at fair value

     2,762,837,838        1,296,685,527        4,059,523,365  

Investments, at contract value (see Note 7)

     282,869,282        —          282,869,282  
  

 

 

    

 

 

    

 

 

 

Total investments

     3,045,707,120        1,296,685,527        4,342,392,647  
  

 

 

    

 

 

    

 

 

 

Receivables

        

Participant loans

     71,944,590        —          71,944,590  

Pending trades due from brokers

     1,945,611        —          1,945,611  

Other receivables

     1,443,528        16,478        1,460,006  
  

 

 

    

 

 

    

 

 

 

Total receivables

     75,333,729        16,478        75,350,207  

Non-interest bearing cash

     37,678        —          37,678  
  

 

 

    

 

 

    

 

 

 

Total assets

     3,121,078,527        1,296,702,005        4,417,780,532  
  

 

 

    

 

 

    

 

 

 

LIABILITIES

        

Pending trades due to brokers (see Note 7)

     7,698,293        —          7,698,293  

Other payables

     2,961,563        71,986        3,033,549  
  

 

 

    

 

 

    

 

 

 

Total liabilities

     10,659,856        71,986        10,731,842  
  

 

 

    

 

 

    

 

 

 

NET ASSETS AVAILABLE FOR BENEFITS

   $ 3,110,418,671      $ 1,296,630,019      $ 4,407,048,690  
  

 

 

    

 

 

    

 

 

 

The accompanying Notes to Financial Statements are an integral part of these statements.

 

2


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2018 AND 2017

 

     December 31, 2017  
     Participant-      Nonparticipant-         
     Directed      Directed      Total  

ASSETS

        

Investments, at fair value (see Note 6)

        

Registered investment companies

   $ 426,956,812      $ 10,270,951      $ 437,227,763  

Collective trust funds

     1,615,240,260        —          1,615,240,260  

Common stock other than NextEra Energy, Inc. common stock

     369,418,704        —          369,418,704  

NextEra Energy, Inc. common stock

     505,405,823        1,206,146,958        1,711,552,781  
  

 

 

    

 

 

    

 

 

 

Total investments, at fair value

     2,917,021,599        1,216,417,909        4,133,439,508  

Investments, at contract value (see Note 7)

     281,704,258        —          281,704,258  
  

 

 

    

 

 

    

 

 

 

Total investments

     3,198,725,857        1,216,417,909        4,415,143,766  
  

 

 

    

 

 

    

 

 

 

Receivables

        

Participant loans

     69,958,932        —          69,958,932  

Pending trades due from brokers

     107,183        —          107,183  

Other receivables

     1,481,184        8,326        1,489,510  
  

 

 

    

 

 

    

 

 

 

Total receivables

     71,547,299        8,326        71,555,625  

Non-interest bearing cash

     812,872        —          812,872  
  

 

 

    

 

 

    

 

 

 

Total assets

     3,271,086,028        1,216,426,235        4,487,512,263  
  

 

 

    

 

 

    

 

 

 

LIABILITIES

        

Pending trades due to brokers

     1,097,092        —          1,097,092  

Other payables

     1,347,177        187,524        1,534,701  
  

 

 

    

 

 

    

 

 

 

Total liabilities

     2,444,269        187,524        2,631,793  
  

 

 

    

 

 

    

 

 

 

NET ASSETS AVAILABLE FOR BENEFITS

   $ 3,268,641,759      $ 1,216,238,711      $ 4,484,880,470  
  

 

 

    

 

 

    

 

 

 

The accompanying Notes to Financial Statements are an integral part of these statements.

 

3


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

FOR THE YEAR ENDED DECEMBER 31, 2018

 

     Participant-     Nonparticipant-         
     Directed     Directed      Total  

ADDITIONS TO NET ASSETS ATTRIBUTED TO:

       

Net appreciation/(depreciation) in fair value of investments

   $ (73,996,172   $ 132,189,103      $ 58,192,931  

Interest income

     10,741,525       —          10,741,525  

Dividend income

     37,838,132       33,365,870        71,204,002  
  

 

 

   

 

 

    

 

 

 

Net investment income/(loss)

     (25,416,515     165,554,973        140,138,458  

Contributions

       

Participant

     162,675,498       —          162,675,498  

Employer - NextEra Energy, Inc. common stock

     —         54,249,486        54,249,486  
  

 

 

   

 

 

    

 

 

 

Total contributions

     162,675,498       54,249,486        216,924,984  

Transfer from/to nonparticipant-directed investments

     41,576,651       1,802,958        43,379,609  
  

 

 

   

 

 

    

 

 

 

Total net additions

     178,835,634       221,607,417        400,443,051  

DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:

       

Benefit payments to participants and beneficiaries

     331,325,187       99,252,479        430,577,666  

Management and administrative expenses

     3,930,577       386,979        4,317,556  

Transfer from/to participant directed investments

     1,802,958       41,576,651        43,379,609  
  

 

 

   

 

 

    

 

 

 

Total deductions

     337,058,722       141,216,109        478,274,831  

NET INCREASE/(DECREASE)

   $ (158,223,088   $ 80,391,308      $ (77,831,780

NET ASSETS AVAILABLE FOR BENEFITS AT DECEMBER 31, 2017

   $ 3,268,641,759     $ 1,216,238,711      $ 4,484,880,470  
  

 

 

   

 

 

    

 

 

 

NET ASSETS AVAILABLE FOR BENEFITS AT DECEMBER 31, 2018

   $ 3,110,418,671     $ 1,296,630,019      $ 4,407,048,690  
  

 

 

   

 

 

    

 

 

 

The accompanying Notes to Financial Statements are an integral part of these statements.

 

4


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

1. Description of the Plan

The following description of the NextEra Energy, Inc. Employee Retirement Savings Plan (the Plan) provides only general information. Participating employees (Participants) should refer to the Summary Plan Description available in their employee handbook (as updated periodically through Summaries of Material Modifications) for a more complete description of the Plan and up-to-date information regarding participating subsidiaries and differing vesting, employer contribution and employee contribution schedules.

General

The Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The Plan includes a cash or deferred arrangement (Pretax Option) permitted by Section 401(k) of the Internal Revenue Code of 1986, as amended (the Code). The Pretax Option permits Participants to defer federal income taxes on their contributions (Pretax Contributions) until such contributions are distributed from the Plan.

Employees of NextEra Energy, Inc. (the Company/Employer) and its subsidiaries, with the exception of employees of Eagle Crest Energy, Co., are eligible to participate in the Plan on the first day of the month coincident with the completion of one full month of service with the Company or certain of its subsidiaries or on the first day of any payroll period thereafter.

The Plan contains employee stock ownership plan (ESOP) provisions. The ESOP is a stock bonus plan within the meaning of U.S. Treasury Regulation Section 1.401-1(b)(1)(iii) which is qualified under Section 401(a) of the Code and is designed to invest primarily in the common stock, par value $.01 per share, of the Company (Company Stock).

The Plan has a Dividend Payout Program which enables Participants to choose how their dividends on certain shares of Company Stock held in the Plan are to be paid. The options available to Participants include reinvestment of dividends in Company Stock or distribution of dividends in cash.

Trustee

Fidelity Management Trust Company (Trustee) administers the NextEra Energy, Inc. Employee Retirement Savings Plan Trust (Trust) established to hold the assets and liabilities of the Plan.

Administration of the Plan

The Plan is intended to qualify as a participant-directed account plan under Section 404(c) of ERISA. The Employee Benefit Plans Administrative Committee (as appointed by the Employee Benefits Advisory Committee of the Company) is the named fiduciary responsible for the general operation and administration of the Plan (but not management or control of Plan assets), and the Employee Benefit Plans Investment Committee (as appointed by the Employee Benefits Advisory Committee of the Company) is the named investment fiduciary, but is not directly responsible for the management and control of the Plan assets. The Employee Benefits Advisory Committee acts on behalf of the Company as the Plan Sponsor, as defined by ERISA. Fidelity Workspace Services LLC (Fidelity) provides recordkeeping services with respect to the Plan.

Employee Contributions

The Plan allows for combined pretax and/or Roth after-tax contributions by eligible employees up to the limit under Code Section 402(g), in whole percentages of up to 50% of their eligible earnings, as defined by the Plan (50% Limit). In addition, eligible employees age 50 or older who contributed the maximum annual amount allowable under the pretax and/or Roth after-tax options in the Plan have the option of contributing an additional pretax catch-up contribution or Roth catch-up contribution in accordance with Code Section 414(v). The Plan also allows for traditional after-tax contributions up to the 50% Limit.

 

5


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

 

The table below presents the effective dates of the Roth after-tax and Roth catch-up contributions, subject to the 50% Limit, for the various eligible employee Participant groups covered by the Plan as of December 31, 2018 and 2017.

 

Participant Group *   

Roth Contribution effective dates (includes after-tax and

catch-up contributions)

NextEra Energy, Inc. and subsidiaries non-bargaining and certain bargaining unit employees not listed below    January 1, 2016
Employees represented by the NextEra Energy Seabrook, LLC (NextEra Energy Seabrook) bargaining unit    January 1, 2017
FPL bargaining unit employees and NextEra Energy Point Beach, LLC (NextEra Energy Point Beach) employees represented by the International Brotherhood of Electrical Workers (IBEW) 2150    January 1, 2018
*

NextEra Energy Duane Arnold, LLC (NextEra Energy Duane Arnold) bargaining unit employees represented by IBEW 204 are not eligible for these provisions.

The table below presents the auto enrollment Pretax Contributions for the various groups of eligible employees unless such employees revoke or modify their Pretax Contribution election within 60 days of their date of hire or rehire.

 

Participant Group *    Deemed Pretax Contribution
NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees not listed below    3% for employees hired or rehired on or after January 1, 2015 but prior to April 1, 2018 and 7% for employees hired or rehired on or after April 1, 2018

NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Blue Book (trade union)

 

NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Red, Green and White Books (professional union) through December 31, 2018, after which their benefit is as described above for the NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees

   3% for employees hired or rehired on or after January 1, 2008
NextEra Energy Seabrook bargaining unit employees    3% for employees hired or rehired on or after March 1, 2017
NextEra Energy Maine Operating Services, LLC (NextEra Energy Maine) bargaining unit employees    3% for employees hired or rehired on or after July 1, 2015
FPL bargaining unit employees    3% for employees hired or rehired on or after January 1, 2018
*

NextEra Energy Duane Arnold bargaining unit employees represented by IBEW 204 are not eligible for these provisions.

Participants can elect to invest in any combination of different investment options offered under the Plan. Participants may change their investment elections daily, subject to Fidelity’s excessive trading policy and the Plan’s limitations on investments in Company Stock.

 

6


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

 

Employer Contributions

The Company provides matching contributions through the ESOP in the form of Company Stock. The table below presents the Employer contribution formula for the various Participant groups covered by the Plan as of December 31, 2018 and 2017.

 

Participant Group    Benefit
NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees not listed below   

100% on the first 3% of employee contributions

50% on the next 3% of employee contributions

25% on the next 1% of employee contributions

NextEra Energy Seabrook non-bargaining employees hired prior to November 1, 2002

 

NextEra Energy Seabrook bargaining unit employees hired prior to January 1, 2004

 

   100% on the first 3% of employee contributions

NextEra Energy Duane Arnold non-bargaining employees hired prior to January 27, 2006

 

NextEra Energy Duane Arnold bargaining unit employees

 

NextEra Energy Point Beach non-bargaining employees hired prior to September 28, 2007 through December 31, 2018, after which their benefit is as described above for the NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees

 

NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Red, Green and White Books, through December 31, 2018, after which their benefit is as described above for the NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees

  

100% on the first 3% of employee contributions

50% on the next 2% of employee contributions

NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Blue Book through December 31, 2017, after which their benefit is as described above for the NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees   

100% on the first 1% of employee contributions

50% on the next 6% of employee contributions

Forfeitures

Forfeitures of non-vested Company matching contributions due to termination of employment may be used to restore amounts previously forfeited or to reduce the amount of future Company matching contributions to the Plan or may be applied to administrative expenses. Forfeitures used to reduce Employer contributions in 2018 totaled $1,802,958 and forfeitures applied to administrative fees in 2018 totaled $116,603. At December 31, 2018 and 2017, the balance of the forfeiture account was $223,186 and $133,798, respectively.

 

7


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

 

Vesting

Participants are immediately 100% vested in employee contributions.

The table below presents the vesting schedule for Company matching contributions of the various Participant groups covered by the Plan as of December 31, 2018 and 2017.

 

Participant Group    Vesting of Company Match
NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees, not listed below    Company matching contributions are vested 20% for each year of service and are fully vested upon a Participant attaining five years of service

NextEra Energy Seabrook non-bargaining employees hired prior to November 1, 2002

 

NextEra Energy Duane Arnold non-bargaining employees hired prior to January 27, 2006

 

NextEra Energy Duane Arnold bargaining unit employees existing on the date of acquisition of the Duane Arnold Energy Center (January 27, 2006)

 

NextEra Energy Point Beach non-bargaining employees hired prior to September 28, 2007

 

NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Red, Green and White Books existing on the date of acquisition of the Point Beach Nuclear Plant (September 28, 2007) and hired on or after September 28, 2007 but prior to January 1, 2019

 

NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Blue Book existing on the date of acquisition of the Point Beach Nuclear Plant (September 28, 2007)

 

NextEra Energy Seabrook bargaining unit employees hired prior to January 1, 2009

   Company matching contributions are fully vested immediately

NextEra Energy Maine non-bargaining employees hired prior to August 1, 2006

 

NextEra Energy Maine bargaining unit employees hired prior to May 15, 2008

   Company matching contributions are fully vested after attaining six months of service
NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Blue Book hired on or after September 28, 2007 but prior to January 1, 2018    Company matching contributions are fully vested after attaining one year of service

Upon death, total and permanent disability or certain other circumstances an employee may become 100% vested. In addition, in certain circumstances, such as acquisitions or divestitures, the Plan may recognize previous service for vesting purposes.

Participant Loans

Each Participant may borrow from his or her account a minimum of $1,000 up to a maximum of $50,000 or 50% of the vested value of the account (reduced by any outstanding loans), whichever is less. The vested portion of a Participant’s account will be pledged as security for the loan. Participants may not have more than two loans outstanding from the Plan at any time. Participant loans have a fixed annual interest rate based on the prime rate which is updated quarterly. Loans outstanding at December 31, 2018 carry an interest rate of 3.25% to 5.25% and mature between 2019 and 2025.

 

8


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

 

Benefit Payments and Withdrawals

Withdrawals by Participants from their accounts during their employment are permitted with certain penalties and restrictions. The penalties may limit a Participant’s contributions to the Plan for varying periods following a withdrawal. Upon termination from employment, Participants are eligible to receive a distribution of the full value of their vested account balance. Terminated Participants can elect to receive a full payment, partial payments, or installments over a period of up to ten years.

Administrative Expenses

The Company pays a portion of the administrative expenses of the Plan. Additionally, Plan participants pay a fee of $61 per year to cover some of the administrative expenses of the Plan. All other expenses are paid directly by the Plan through forfeitures or revenue sharing that the Plan receives either directly or indirectly from certain of the Plan’s investment options. Any fees paid directly by the Company are not included in the financial statements.

Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, Participants will become 100% vested in their accounts.    

2. Summary of Significant Accounting Policies

Basis of Accounting

The financial statements of the Plan are prepared under the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.

Use of Estimates

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

Investment Valuation

The Plan’s investments are reported at fair value, except for the fully benefit-responsive investment contracts, which are reported at contract value. Fair value measurement guidance emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and sets out a fair value hierarchy intended to disclose information about the relative reliability of fair value measurements, with the highest priority being unadjusted quoted prices in active markets for identical assets or liabilities.

In some cases, a valuation approach used to measure fair value may include inputs from multiple levels of fair value hierarchy. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.

The Plan recognizes transfers into and out of fair value hierarchy levels at the beginning of the period.

The following are descriptions of the valuation methods and assumptions used by the Plan to estimate the fair values of investments held by the Plan.

Registered investment companies (mutual funds), Company Stock, and common stock: Investments in shares of registered investment companies are valued at quoted market prices in active markets (Level 1 inputs), which represent the net asset value of such shares at year-end. Investments in shares of actively traded money market mutual funds are stated at the net asset value of such shares held at year-end (Level 1 inputs). Company Stock and other publicly traded common stock are valued at their quoted market price in active markets (Level 1 inputs). Certain common stock is valued using significant unobservable inputs (Level 3 inputs).

Collective trust funds: The fair values of participation units held in collective trust funds are based on the net asset value per unit share reported by the fund manager as of the financial statement dates and on recent transaction prices (Level 2 inputs). Each collective trust fund provides for daily redemptions reported at net asset value per unit share, with no advance notice requirement.

The following is a description of the valuation methods and assumptions used by the Plan to report the contract value of the fully benefit-responsive synthetic guaranteed investment contracts held by the Plan.

 

9


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

 

Investment contracts (wrapper contracts): The Managed Income Fund holds fully benefit-responsive investment contracts (wrapper contracts) (see Note 7 – Managed Income Fund) with various insurance companies and financial institutions in order to provide Participants with a stable, fixed-rate of return on investments and protection of principal from changes in market interest rates. The crediting interest rate resets monthly and is based on an agreed-upon formula with the issuers, but cannot be less than zero. The key factors that influence future rates could include the following: the level of market interest rates, the difference between the fully benefit-responsive investment contracts’ book and market values, the amount and timing of Participant contributions, transfers and withdrawals into/out of the fully benefit-responsive investment contracts, and the duration of the underlying investments backing the fully benefit-responsive investment contracts.

The wrapper contracts within the Managed Income Fund are a synthetic guaranteed investment contract which is valued at the contract value of the underlying investments of the contracts, primarily debt securities and wrapper contracts. The underlying investments in the Managed Income Fund include U.S. Treasury notes, asset-backed and mortgage-backed securities, corporate bonds and government agency notes. The contracts are unallocated in nature and are fully benefit-responsive. Therefore, net assets available for benefits reflects the contract value of the Managed Income Fund. There are no reserves against contract values (which represent contributions made under the contract, plus earnings, less withdrawals and administrative expenses) for credit risk of the contract issuer or otherwise. Wrapper contracts provide the Managed Income Fund with the ability to use contract value accounting to maintain a constant $1.00 unit price. Wrapper contracts also provide for the payment of participant-directed withdrawals and exchanges at contract value (principal and interest accrued to date) during the term of the wrapper contracts. However, withdrawals prompted by certain events (e.g., layoffs, retirement during specified early retirement window periods, spin-offs, sale of a division, facility closings, plan terminations, partial plan terminations, changes in law or regulation, material breach of contract responsibilities, loss of the Plan’s qualified status, etc.) may be paid at fair value which may be less than contract value. Currently, management believes that the occurrence of an event that would cause the Plan to be paid at less than contract value is not probable. A contract issuer may terminate a wrapper contract at any time; however, if the fair value of the contract is less than the contract value, the contract issuer can either hold the contract until the fair value and contract value are equal or make up the difference between the two. If the funds in the wrapper contracts are needed for benefit payments prior to contract maturity, they may be withdrawn without penalty.

Investment Income Recognition

Purchases and sales of investment securities are recorded on the trade date. Gains or losses on sales of investment securities are determined using the average cost method of the securities. The carrying amounts of securities held in Participants’ accounts are adjusted daily. Unrealized appreciation or depreciation is recorded to recognize changes in fair value. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.

Payment of Benefits

Benefits distributed to Participants are recorded when paid.

Participant Loans

Participant loans are reported at their unpaid principal balance plus any accrued but unpaid interest, with no allowance for credit losses, as repayments of principal and interest are received through payroll deductions and the loans are collateralized by the Participants’ account balances in the Plan.

3. Risks and Uncertainties

Investment securities, in general, are exposed to various risks, such as interest rate, credit, liquidity and overall market volatility, which could result in changes in the value of such securities. Due to the level of risk associated with certain types of investment securities, it is at least reasonably possible that changes in the values of the investment securities will occur in the near term and that such changes could materially affect Participants’ account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits.

4. Nonparticipant-Directed Investments

The “Nonparticipant-Directed” net assets of the Plan and changes therein represent Employer contributions into the ESOP component of the Plan. Participants have the option to reinvest nonparticipant-directed shares daily among any of the other investment options available under the Plan.

 

10


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

 

5. Parties-In-Interest Transactions

Parties-in-interest are defined under Department of Labor (DOL) regulations as any fiduciary of the Plan, any party rendering service to the Plan, the Employer, and certain others.

Dividend income earned by the Plan includes dividends on Company Stock. In accordance with the Plan and the Company’s Dividend Reinvestment and Direct Stock Purchase Plan in which the Trustee participates, participants may elect to reinvest dividends in Company Stock or receive dividends in cash. During 2018, dividends on shares of Company Stock held in Participants’ accounts totaled $46,891,512.

During 2018, employer contributions of Company Stock credited to Participant’s accounts totaled $54,249,486 which equates to 331,636 shares. Realized gains on shares of Company Stock sold by Participants during the current Plan year totaled $10,005,355. At December 31, 2018 and 2017, the number of shares of Company Stock held in Participants’ accounts totaled 10,357,975 and 10,958,146, respectively, with a fair value of $1,800,423,167 and $1,711,552,781, respectively.

Certain fees were paid by the Plan to the managers of the investments held in the Plan and certain Plan investments are managed by an affiliate of the Trustee or investment advisors of the Plan. These transactions qualify as party-in-interest transactions. The Plan also pays for various administrative expenses to service providers which constitute party-in-interest transactions. Additionally, the Plan reimburses the Company for a portion of the costs incurred in the administration of the Plan which are considered party-in-interest transactions. Participant loans held by the Plan of $71,944,590 and $69,958,932 at December 31, 2018 and December 31, 2017, respectively, are also considered party-in-interest transactions.

6. Investments

The following table sets forth by level, within the fair value hierarchy, the Plan’s assets that are measured at fair value on a recurring basis as of December 31, 2018:

 

     Fair Value Measurements  
     At December 31, 2018 using  
     Quoted Prices      Significant                
     in Active      Other      Significant         
     Markets for      Observable      Unobservable         
     Identical Assets      Inputs      Inputs         
     (Level 1)      (Level 2)      (Level 3)      Total  

Participant-directed investments:

           

Registered investment companies

   $ 394,120,141      $ —        $ —        $ 394,120,141  

Collective trust funds

     —          1,444,410,489        —          1,444,410,489  

Common stock other than NextEra Energy, Inc. common stock

     408,246,861        —          2,016,755        410,263,616  

NextEra Energy, Inc. common stock

     514,043,592        —          —          514,043,592  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total participant-directed investments

     1,316,410,594        1,444,410,489        2,016,755        2,762,837,838  

Nonparticipant-directed investments:

           

NextEra Energy, Inc. common stock

     1,286,379,575        —          —          1,286,379,575  

Registered investment companies

     10,305,952        —          —          10,305,952  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total nonparticipant-directed investments

     1,296,685,527        —          —          1,296,685,527  

Total investments in the fair value heirarchy

     2,613,096,121        1,444,410,489        2,016,755        4,059,523,365  
  

 

 

    

 

 

    

 

 

    

 

 

 

Investments at contract value

              282,869,282  
           

 

 

 

Total investments

            $  4,342,392,647  
           

 

 

 

During the 2018 Plan year there were no transfers between investment levels.

 

11


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

 

The following table sets forth by level, within the fair value hierarchy, the Plan’s assets that are measured at fair value on a recurring basis as of December 31, 2017:

 

     Fair Value Measurements  
     At December 31, 2017 using  
     Quoted Prices      Significant                
     in Active      Other      Significant         
     Markets for      Observable      Unobservable         
     Identical Assets      Inputs      Inputs         
     (Level 1)      (Level 2)      (Level 3)      Total  

Participant-directed investments:

           

Registered investment companies

   $ 426,956,812      $ —        $ —        $ 426,956,812  

Collective trust funds

     —          1,615,240,260        —          1,615,240,260  

Common stock other than NextEra Energy, Inc. common stock

     366,789,979        —          2,628,725        369,418,704  

NextEra Energy, Inc. common stock

     505,405,823        —          —          505,405,823  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total participant-directed investments

     1,299,152,614        1,615,240,260        2,628,725        2,917,021,599  

Nonparticipant-directed investments:

           

NextEra Energy, Inc. common stock

     1,206,146,958        —          —          1,206,146,958  

Registered investment companies

     10,270,951        —          —          10,270,951  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total nonparticipant-directed investments

     1,216,417,909              1,216,417,909  

Total investments in the fair value heirarchy

     2,515,570,523        1,615,240,260        2,628,725        4,133,439,508  
  

 

 

    

 

 

    

 

 

    

 

 

 

Investments at contract value

              281,704,258  
           

 

 

 

Total investments

            $  4,415,143,766  
           

 

 

 

During the 2017 Plan year there were no transfers between investment levels.

7. Managed Income Fund

The contract value of fully benefit-responsive investment contracts was $282,869,282 and $281,704,258, respectively, at December 31, 2018 and 2017. The contract value of fully benefit-responsive investment contracts includes a short-term collective investment trust in the amount of $9,662,516 and $3,417,857, respectively, at December 31, 2018 and 2017. Pending trades due to brokers related to fully benefit-responsive investment contracts are $7,698,293 and $0, respectively at December 31, 2018 and 2017. The contract value of fully benefit-responsive investment contracts excludes short term investments in registered investment companies that are not covered by the wrapper contracts. These investments are reported at fair value in the amount of $9,721,874 and $4,206,125, respectively, at December 31, 2018 and 2017.

8. Income Taxes

On June 17, 2015, the Internal Revenue Service (IRS) made a favorable determination that the Plan meets the requirements of Section 401(a) of the Code. The Plan has been amended since receiving the favorable determination letter and due to expiry of the determination letter program, no new letter is expected. The Company and the plan administrator believe that the Plan is currently designed and operated in material compliance with the applicable requirements of the Code and that the Plan continues to be tax-exempt. The Trust established under the Plan will generally be exempt from federal income taxes under Section 501(a) of the Code; Company contributions paid to the Trust under the Plan will be allowable federal income tax deductions of the Company subject to the conditions and limitations of Section 404 of the Code; and the Plan meets the requirements of Section 401(k) of the Code allowing Pretax Contributions to be exempt from federal income tax at the time such contributions are made, provided that in operation the Plan and Trust meet the applicable provisions of the Code. Participants are given the option to receive dividend distributions on Company Stock in cash; all vested dividends earned by Participants are deductible by the Company.

Company matching contributions to the Plan on a Participant’s behalf, the Participant’s Pretax Contributions, and the earnings thereon generally are not taxable to the Participant until such Company matching contributions, Pretax Contributions, and earnings thereon are distributed or withdrawn. Participant’s Roth after-tax contributions and the earnings thereon generally are not taxable to the Participant if made as a qualified distribution. Earnings on traditional after-tax contributions are not taxable to the Participant until distributed or withdrawn. A loan from a Participant’s account generally will not represent a taxable distribution if the loan is repaid in a timely manner and does not exceed certain limitations.

Accounting principles generally accepted in the United States of America require plan administrators to evaluate tax positions taken by the Plan. The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2018 and 2017, respectively, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing and regulatory authorities, and IRS and DOL audits are currently in progress for plan years after 2013. The plan administrator believes it is no longer subject to income tax examinations by the IRS for years prior to 2014.

 

12


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018 AND 2017

 

9. Subsequent Events

On January 1, 2019, the Company acquired Gulf Power Company (Gulf Power) from The Southern Company (Southern). Gulf Power employees are eligible to participate in the Plan as of the first of the month following one full month of service, including prior service with Southern. Gulf Power non-bargaining employees’ matching contributions are vested 20% for each year of service and are fully vested upon a Participant attaining five years of service (which includes prior service with Southern). Gulf Power bargaining employees’ matching contributions are vested immediately. On the date of the Gulf Power acquisition, eligible employees were able to begin deferrals into the Plan and could rollover 401(k) account balances from Southern. The acquisition resulted in a 5% increase in total Plan participants. In addition, eligible employees with loan balances were given a choice prior to the acquisition to participate in a group rollover of Southern 401(k) balances and loans into the Plan. The group rollover included approximately $28 million (unaudited) of Southern 401(k) balances and occurred in March of 2019.

 

13


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

   Common Stock:         
  

ACTIVISION BLIZZARD INC

   25,700    **    $1,196,849
  

ALEXION PHARMACEUTICALS INC

   16,947    **    1,649,960
  

ALIBABA GROUP HOLDING LTD SPON ADR

   36,098    **    4,947,953
  

ALPHABET INC CL A

   13,069    **    13,656,582
  

ALPHABET INC CL C

   6,592    **    6,826,741
  

AMAZON.COM INC

   15,840    **    23,791,205
  

AMERICAN WATER WRKS COMPANY

   14,500    **    1,316,165
  

ANTHEM INC

   15,153    **    3,979,632
  

APPLE INC

   28,842    **    4,549,537
  

APTIV PLC

   53,426    **    3,289,439
  

ASML HLDG NV (NY REG SHS) NEW YORK REGISTERED SHAR

   7,200    **    1,120,464
  

BECTON DICKINSON & CO

   26,976    **    6,078,232
  

BOEING CO

   46,153    **    14,884,343
  

CENTENE CORP

   15,428    **    1,778,848
  

CIGNA CORP

   44,259    **    8,405,669
  

DOLLAR GENERAL CORP

   34,622    **    3,741,946
  

FACEBOOK INC CL A

   84,419    **    11,066,487
  

FIDELITY NATL INFORM SVCS INC

   9,909    **    1,016,168
  

FORTIVE CORP

   18,282    **    1,236,960
  

GLOBAL PAYMENTS INC

   30,695    **    3,165,575
  

HCA HEALTHCARE INC

   38,183    **    4,751,874
  

HILTON WORLDWIDE HOLDINGS INC

   40,744    **    2,925,419
  

HONEYWELL INTL INC

   10,716    **    1,415,798
  

HUMANA INC

   8,204    **    2,350,282
  

IAC/INTERACTIVECORP

   7,400    **    1,354,496
  

INTERCONTINENTAL EXCHANGE INC

   35,700    **    2,689,281
  

INTUIT INC

   25,786    **    5,075,974
  

INTUITIVE SURGICAL INC

   13,811    **    6,614,364
  

KANSAS CITY SOUTHERN

   13,618    **            1,299,838
  

LAS VEGAS SANDS CORP

   31,600    **    1,644,780
  

LILLY (ELI) & CO

   26,700    **    3,089,724
  

MAXIM INTEGRATED PRODUCTS INC

   29,555    **    1,502,872
  

MCDONALDS CORP

   10,446    **    1,854,896
  

MICROSOFT CORP

   187,000    **    18,993,590
  

MORGAN STANLEY

   50,789    **    2,013,784
  

NETFLIX INC

   11,677    **    3,125,466
  

NIKE INC CL B

   36,429    **    2,700,846
  

NORTHROP GRUMMAN CORP

   12,358    **    3,026,474
  

PAYPAL HLDGS INC

   45,900    **    3,859,731
  

PHILIP MORRIS INTL INC

   41,210    **    2,751,180
  

RED HAT INC

   36,307    **    6,376,961
  

RESTAURANT BRANDS INTERNATIONAL INC

   35,100    **    1,835,730
  

ROSS STORES INC

   39,800    **    3,311,360
  

SALESFORCE.COM INC

   29,800    **    4,081,706
  

SCHWAB CHARLES CORP

   120,447    **    5,002,164

 

14


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

  

SEMPRA ENERGY

   17,333    **    1,875,257
  

SERVICENOW INC

   12,418    **    2,211,025
  

SPIRIT AEROSYSTEM HLD INC CL A

   20,897    **    1,506,465
  

SPLUNK INC

   23,100    **    2,422,035
  

STRYKER CORP

   39,901    **    6,254,482
  

TD AMERITRADE HOLDING CORP

   43,264    **    2,118,205
  

TENCENT HOLDINGS LTD UNS ADR

   173,814    **    6,860,439
  

TESLA INC

   11,058    **    3,680,102
  

THE BOOKING HOLDINGS INC

   3,109    **    5,355,004
  

UBER TECHNOLOGIES INC CL A P/P

   216    **    10,534
  

UNITEDHEALTH GROUP INC

   36,100    **    8,993,232
  

VERTEX PHARMACEUTICALS INC

   29,550    **    4,896,731
  

VISA INC CL A

   104,700    **            13,814,118
  

VMWARE INC CL A

   33,527    **    4,597,558
  

WASTE CONNECTIONS INC (US)

   31,250    **    2,320,313
  

WELLCARE HEALTH PLANS INC

   6,755    **    1,594,788
  

WORKDAY INC CL A

   16,743    **    2,673,522
  

AIRBNB INC SER E PC PP

   2,935    **    275,244
  

AIRBNB PC D PP

   6,435    **    603,474
  

MAGIC LEAP INC PC SER C PP

   10,937    **    216,443
  

MAGIC LEAP INC PC SER D PP

   3,654    **    72,313
  

UBER TECH INC SER A PC PP

   31    **    1,512
  

UBER TECH INC SER B PC PP

   82    **    3,999
  

UBER TECH INC SER C-1 PC PP

   21    **    1,024
  

UBER TECH INC SER C-2 PC PP

   18    **    878
  

UBER TECH INC SER D PC PP

   20    **    975
  

UBER TECH INC SER SEED PC PP

   79    **    3,853
  

UBER TECHN INC SER G-1 PC PP

   47    **    2,292
  

UBER TECHNOLOGIES 8% PC E PP

   10,657    **    519,742
  

UBER TECHNOLOGIES SER G PP

   6,243    **    304,471
  

ABIOMED INC

   7,829    **    2,544,738
  

AFFILIATED MANAGERS GRP INC

   23,933    **    2,332,032
  

AMAG PHARMACEUTICALS INC

   148,341    **    2,253,300
  

BIO TECHNE CORP

   43,735    **    6,329,329
  

CARS.COM INC

   238,343    **    5,124,375
  

COUPA SOFTWARE INC

   73,736    **    4,635,045
  

DUNKIN BRANDS GROUP INC

   87,416    **    5,605,114
  

EQUITY COMMONWEALTH

   278,590    **    8,360,486
  

EXPEDITORS INTL OF WASH INC

   54,068    **    3,681,490
  

GCI LIBERTY INC CL A

   60,339    **    2,483,553
  

GRACO INC

   96,446    **    4,036,265
  

HAEMONETICS CORP MASS

   30,972    **    3,098,749
  

J2 GLOBAL INC

   101,060    **    7,011,543
  

LENDINGTREE INC

   22,882    **    5,024,201
  

LIBERTY FORMULA ONE-C

   104,417    **    3,205,602
  

LIBERTY TRIPADVISOR HOLDG A WI

   379,404    **    6,028,730

 

15


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

  

LIVERAMP HOLDINGS INC

   198,215    **    7,657,045
  

LOGITECH INTL SA REG

   107,449    **    3,380,123
  

MSCI INC

   13,275    **    1,957,133
  

NEW YORK TIMES CO CL A

   338,727    **    7,550,225
  

PAYCOM SOFTWARE INC

   40,600    **    4,971,470
  

PORTOLA PHARMACEUTICALS INC

   93,575    **    1,826,584
  

REDFIN CORP

   301,957    **    4,348,181
  

STITCH FIX

   141,673    **    2,421,192
  

TRIPADVISOR INC

   46,215    **    2,492,837
  

UBIQUITI NETWORKS INC

   15,948    **    1,585,391
  

VARONIS SYSTEMS INC

   63,051    **    3,335,398
  

WIX.COM LTD

   46,174    **    4,171,359
  

WYNDHAM HOTELS & RESORTS INC

   98,852    **    4,484,914
  

YELP INC

   108,312    **    3,789,837

*

  

NEXTERA ENERGY, INC. (PARTICIPANT DIRECTED)

   2,957,333    **    514,043,592

*

  

NEXTERA ENERGY, INC. (NON-PARTICIPANT DIRECTED)

   7,400,642    230,340,879    1,286,379,575
        

 

  

 

  

Total Common Stock

      230,340,879    $2,210,686,783
        

 

  

 

  

Collective Trust Funds:

        

*

  

ARISTOTLE SM CAP EQ

   7,472,327    **    $77,338,580

*

  

BLKRK 2000 INDEX M

   708,118    **    12,807,794

*

  

BTC ACWI EX US IMI M

   2,848,296    **    34,556,946

*

  

BTC EQUITY INDEX M

   8,260,891    **    170,437,054

*

  

BTC RUSSELL 3000 M

   5,474,304    **    75,373,500

*

  

BTC US DEBT INDEX W

   2,281,842    **    49,420,475

*

  

C&S US REALTY B

   3,714,946    **    46,956,923

*

  

FID LOW PR STK POOL

   5,490,515    **    70,168,777

*

  

FISHER EMERGING MKTS

   1,036,376    **    11,369,043

*

  

LS CORE PL FXINC D

   4,142,987    **    60,156,168

*

  

PIMCO DIVRSD RL AST

   763,573    **    10,071,525

*

  

VANGUARD TARGET 2015

   2,106,040    **    104,943,982

*

  

VANGUARD TARGET 2020

   112,696    **    5,728,360

*

  

VANGUARD TARGET 2025

   5,435,703    **    275,427,058

*

  

VANGUARD TARGET 2030

   97,278    **    4,929,091

*

  

VANGUARD TARGET 2035

   4,397,646    **    225,687,214

*

  

VANGUARD TARGET 2040

   71,411    **    3,750,501

*

  

VANGUARD TARGET 2045

   2,319,426    **    121,514,742

*

  

VANGUARD TARGET 2050

   64,419    **    3,394,892

*

  

VANGUARD TARGET 2055

   490,479    **    31,518,195

*

  

VANGUARD TARGET 2060

   14,900    **    502,738

*

  

VANGUARD TARGET 2065

   86,398    **    1,793,627

*

  

VANGUARD TARGET RET

   780,638    **    39,227,075

*

  

SSBK GOVERNMENT STIF FUND (US LARGE CAP GROWTH FUND)

   4,983,179    **    4,983,179

*

  

SSBK STIF FUND (SMALL MID CAP GROWTH FUND)

   2,353,050    **    2,353,050

*

  

SSBK STIF FUND (MANAGED INCOME FUND)

   9,662,516    **    9,662,516
        

 

  

 

  

Total Collective Trust Funds

      —      $1,454,073,005
        

 

  

 

 

16


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

  

Registered Investment Companies:

        

*

  

EATON VANCE FLOATING-RATE & HIGH INCOME FUND R6

   2,322,809    **    $19,720,649

*

  

VANGUARD PRIME CAP CORE FUND

   4,358,272    **    101,983,567

*

  

VANGUARD VMMR-FED MONEY MARKET

   97,811,643    **    97,811,643

*

  

JPM EQUITY INCOME R6 FUND

   5,482,422    **    86,896,394

*

  

AF EUROPAC GROWTH R6

   1,706,951    **    76,795,723

*

  

FIDELITY INSTITUTIONAL CASH PORTFOLIO (NEXTERA ENERGY, INC. PARTICIPANT DIRECTED)

   1,190,291    **    1,190,291

*

  

FIDELITY INSTITUTIONAL CASH PORTFOLIO (NEXTERA ENERGY, INC. NON-PARTICIPANT DIRECTED)

   10,305,952    10,305,952    10,305,952

*

  

FIDELITY INSTITUTIONAL CASH PORTFOLIO (MANAGED INCOME FUND)

   9,721,874    **    9,721,874
        

 

  

 

  

Total Registered Investment Companies

      10,305,952    $404,426,093
        

 

  

 

  

U.S. Treasury Notes:

        
  

USTN 2.375% 8/15/24

   4,918,000    **    $4,917,133
  

USTN 2% 08/15/25

   8,419,000    **    8,182,847
  

USTN 1.75% 12/31/20

   27,175,000    **        26,784,480
  

USTN 1.75% 11/30/21

   12,398,000    **    12,166,471
  

USTN 1.875% 06/30/20

   143,000    **    141,577
  

UST NOTE 1.875% 03/31/22

   20,042,000    **    19,724,523
  

UST NOTES 1.625% 07/31/20

   14,969,000    **    14,857,059
  

USTN 1.375% 08/31/23

   9,223,000    **    8,810,431
  

USTN 1.875% 07/31/22

   13,786,000    **    13,608,312
        

 

  

 

  

Total U.S. Treasury Notes

      —      $109,192,833
        

 

  

 

  

Government Agency Notes:

        
  

NYC TFA (PIT) 2.05% 08/01/23

   165,000    **    $159,139
  

NYC TFA (PIT) 2.85% 02/01/24

   155,000    **    153,638
  

NYS UDC 2.67% 03/15/23

   775,000    **    771,979
  

NYS UDC 2.7% 03/15/23

   630,000    **    628,344
        

 

  

 

  

Total Government Agency Notes

      —      $1,713,100
        

 

  

 

  

Mortgage Backed Securities:

        
  

FHLG 7.50% 7/34 #G02115

   75,613    **    $85,979
  

FHLG 15YR 5.00% 4/20 #G13598

   1,622    **    1,640
  

FHLG 15YR 3.5% 08/30#G15273

   364,152    **    370,722
  

FHLG 15YR 2.5% 10/31#G16387

   619,349    **    611,111
  

FHLG 25YR 5.50% 7/35 #G05815

   33,369    **    35,882
  

FHLG 20YR 3.5% 06/32#C91456

   567,846    **    577,914
  

FHLG 5.50% 3/34 #G01665

   48,880    **    52,597
  

FHLG 15YR 4.00% 9/25 #E02787

   85,908    **    88,192
  

FHLG 15YR 4.00% 4/26 #E02867

   50,225    **    51,633
  

FHLG 15YR 3% 05/29#J29409

   916,840    **    920,605
  

FHLG 5.50% 5/34 #Z40042

   367,230    **    394,544
  

FHLG 20YR 3% 11/33#G30872

   550,195    **    552,412
  

FHLG 20YR 3.5% 05/38#G31067

   299,958    **    305,276
  

FHMS 2013-K025 A2 2.682% 10/22

   137,000    **    136,292
  

FHMS K724 A1 2.776% 03/23

   185,868    **    185,370
  

FHMS K035 A2 3.458% 08/23

   632,000    **    646,516
  

FHMS 2017-K727 A1 2.632% 10/23

   131,209    **    130,521
  

FHMS 2018-K079 A1 3.729% 02/28

   172,928    **    178,837

 

17


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

  

FNMA 5.50% 11/34 #310105

   264,826    **    285,230
  

FNMA 15YR 3.5% 07/26#AI7819

   28,772    **    29,296
  

FNMA 15YR 3.50% 1/26 #AL1168

   72,893    **    74,179
  

FNMA 15YR 3.50% 3/27 #AL1746

   340,808    **    347,213
  

FNMA 20YR 2.5% 01/33#AL2974

   163,382    **    160,351
  

FNMA 20YR 2.5% 01/33#AL2975

   183,068    **    179,671
  

FNMA 20YR 2.5% 01/33#AL2976

   109,927    **    107,887
  

FNMA 20YR 2.5% 01/33#AL2982

   129,532    **    127,128
  

FNMA 15YR 3.5% 10/29#AL5851

   122,568    **    124,875
  

FNMA 15YR 3.5% 09/29#AL5878

   298,636    **    304,258
  

FNMA 15YR 4.5% 11/25#AL8242

   180,538    **    186,763
  

FNMA 15YR 3% 09/31#AL8853

   1,442,701    **    1,450,992
  

FNMA 15YR 3.5% 01/27 #AX1909

   131,781    **    134,303
  

FNMA 6.50% 7/32 #545759

   13,293    **    14,920
  

FNMA 6.50% 7/32 #545762

   7,672    **    8,610
  

FNMA 3.5% 07/32#BM3929

   848,264    **    863,833
  

FNMA 15YR 4% 08/27#BM4533

   692,736    **    711,273
  

FNMA 6.50% 12/32 #735415

   7,933    **    8,904
  

FNMA 6.50% 7/35 #745092

   8,691    **    9,800
  

FNMA 6.50% 8/36 #888034

   11,653    **    13,069
  

FNMA 6.50% 8/36 #888544

   37,425    **    42,082
  

FNMA 10YR 2% 08/23#MA1535

   293,172    **    290,402
  

FNMA 6.50% 12/35 #AD0723

   46,301    **    51,969
  

FNMA 6.50% 8/36 #AE0746

   33,605    **    37,772
  

BMARK 2018-B2 A2 3.6623% 02/51

   577,000    **    586,608
  

BMARK 2018-B7 A2 4.377% 05/53

   328,000    **    344,382
  

BMARK 2018-B8 A2 4.2122% 01/52

   382,000    **    397,445
  

COMM 2015-CR22 A2 2.856% 03/48

   214,000    **    213,885
  

COMM 2015-CR22 ASB 3.144% 3/48

   211,000    **    211,481
  

COMM 15-CR23 ASB 3.257% 05/48

   244,000    **    245,565
  

COMM 15-CR26 ASB 3.373% 10/48

   163,000    **    164,763
  

CSMC 16-NXSR A1 1.9708% 12/49

   112,177    **    110,321
  

CSAIL 17-CX9 A2 3.0538% 09/50

   460,000    **    457,879
  

COMM 2012-LC4 A4 3.288% 12/44

   668,647    **    670,443
  

COMM 2012-CR2 A3 2.841 8/45

   680,000    **    673,318
  

COMM 2012-CR3 ASB 2.372% 11/45

   322,122    **    319,002
  

COMM 2012-CR3 A3 2.822% 10/45

   312,687    **    308,290
  

COMM 2013-CR6 A4 3.101% 03/46

   358,000    **    356,916
  

COMM 2013-CR7 A4 3.213% 03/46

   475,798    **    476,555
  

COMM 2013-CR8 A5 3.612% 06/46

   209,000    **    212,317
  

COMM 2014-CR18 A2 2.924% 07/47

   309,859    **    309,904
  

CSAIL 2015-C2 ASB 3.2241% 6/57

   169,000    **    168,911
  

CSAIL 2016-C7 A1 1.5786% 11/49

   120,917    **    119,439
  

CGCMT 2016-P6 A1 1.884% 12/49

   58,076    **    57,239
  

CGCMT 2012-GC8 A4 3.024% 9/45

   425,000    **    424,218
  

CGCMT 13-GC11 A4 3.093% 04/46

   82,000    **    81,621
  

CGCMT 13-GC15 A4 4.371% 9/46

   195,000    **    204,340
  

CGCMT 13-GC17 A4 4.131% 11/46

   249,000    **    258,574
  

CGCMT 2014-GC23 A3 3.356% 7/47

   511,000    **    512,505
  

CGCMT 16-GC36 AAB 3.368% 02/49

   295,000    **    296,740
  

CGCMT 2017-P7 A2 3.199% 04/50

   286,000    **    287,749

 

18


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

  

FNR 2012-149 DA 1.75% 01/43

   70,825    **    68,000
  

FNR 2013-16 GP 3% 03/33

   309,646    **    310,150
  

FNR 2014-83 P 3% 06/43

   461,126    **    460,641
  

FNR 2015-32 PA 3% 4/44

   361,777    **    361,434
  

FNR 2015-28 P 2.5% 5/45

   929,596    **    910,459
  

FNR 2015-28 JE 3% 05/45

   767,388    **    764,499
  

FNR 2015-42 LE 3% 06/45

   545,646    **    542,817
  

FNR 2015-49 LE 3% 07/45

   402,129    **    402,170
  

FNR 2015-54 GA 2.5% 07/45

   484,635    **    476,895
  

FNR 2016-19 AH 3% 04/46

   438,495    **    438,651
  

FNR 2016-26 CG 3% 05/46

   1,132,956    **    1,130,362
  

FNR 2016-27 HK 3% 01/41

   570,190    **    567,576
  

FNR 2016-27 KG 3% 01/40

   280,954    **    280,651
  

FNR 2016-37 BK 3% 06/46

   1,174,605    **    1,171,988
  

FNR 2016-34 GH 3% 06/46

   1,110,424    **    1,106,297
  

FNR 2016-105 PA 3.5% 4/45

   598,005    **    608,741
  

FNR 2016-100 P 3.5% 11/44

   909,782    **    923,013
  

FNR 2017-11 HA 3.5% 12/45

   943,354    **    960,050
  

FNR 2017-20 AP 3.5% 03/45

   1,042,054    **    1,060,405
  

FNR 2017-74 PA 3.5% 11/45

   895,874    **    912,161
  

FNR 2017-97 P 3% 01/47

   596,785    **    592,558
  

FNR 2018-3 LP 3% 02/47

   1,631,436    **    1,624,496
  

FNR 2018-16 NB 3.25% 12/44

   558,414    **    563,205
  

FNR 2018-11 LA 3.5% 7/45

   725,924    **    738,770
  

FNR 2018-44 PA 3.5% 06/44

   3,560,286    **    3,598,095
  

FNR 2018-88 BA 4% 11/25/43

   1,095,578    **    1,128,846
  

FHR 2012-4135 AB 1.75% 06/42

   53,511    **    51,395
  

FHR 2015-4472 WL 3% 05/45

   371,465    **    371,784
  

FHR 4656 PA 3.5% 10/45

   623,080    **    635,168
  

FHR 4683 EA 2.5% 05/47

   790,374    **    773,910
  

FHR 2018-4765 QA 3% 02/46

   1,197,232    **    1,193,734
  

FHR 4847 CA 3.5% 11/15/45

   768,284    **    780,480
  

FHR 2018-4766 MA 3.5% 02/46

   1,136,465    **    1,157,778
  

FNR 2011-26 PA 4.5% 04/41

   246,125    **    258,148
  

FHR 2010-3645 KP 5% 02/40

   193,354    **    204,955
  

GSMS 2012-GC6 A3 3.482% 01/45

   304,849    **    308,995
  

GSMS 2013-GC10 A4 2.681% 02/46

   118,206    **    116,016
  

GSMS 2013-GC10 A5 2.943% 02/46

   622,000    **    615,722
  

GSMS 2012-GCJ7 A4 3.377% 05/45

   1,101,783    **    1,109,533
  

GSMS 2012-GCJ9 A3 2.773% 11/45

   734,432    **    726,061
  

GSMC 14-GC26 AAB 3.365% 11/47

   349,000    **    352,264
  

GSMS 15-GC32 AAB 3.513% 7/48

   204,000    **    206,955
  

GSMS 2015-GC28 AAB 3.206% 2/48

   265,000    **    266,063
  

GSMS 2016-GS4 A1 1.532% 11/49

   59,531    **    58,502
  

GSMS 14-GC18 AAB 3.648% 01/47

   89,000    **    90,210
  

GSMS 14-GC20 AAB 3.655% 04/47

   103,000    **    104,748

*

  

JPMCC 2015-JP1 A2 3.1438% 1/49

   351,000    **    350,292

*

  

JPMCC 2012-C6 A3 3.5074 5/45

   207,012    **    208,594

*

  

JPMCC 2012-C8 A3 2.8291% 10/45

   289,178    **    284,807

*

  

JPMCC 13-C10 A5 3.1425% 12/47

   542,000    **    539,347

*

  

JPMBB 14-C22 ASB 3.5036% 09/47

   255,000    **    257,039

*

  

JPMCC 16-JP4 A2 2.9343% 12/49

   384,000    **    381,378

*

  

JPMDB 16-C4 A1 1.4943% 12/49

   1,072,790    **    1,047,251

 

19


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

  

MSBAM 15-C22 ASB 3.04% 4/15/48

   151,000    **    150,946
  

MSBAM 2013-C7 A4 2.918% 2/46

   451,000    **    445,735
  

MSBAM 2016-C32 A1 1.819% 12/49

   178,045    **    175,183
  

MSBAM 2012-C6 A4 2.858% 11/45

   633,132    **    625,597
  

MSBAM 2013-C8 A4 3.134% 12/48

   516,000    **    514,123
  

MSBAM 2013-C11 A4 CSTR 8/46

   166,000    **    173,509
  

MSBAM 13-C13 ASB 3.557% 11/46

   419,530    **    425,041
  

MSBAM 2014-C16 ASB 3.477% 6/47

   333,000    **    335,836
  

MSBAM 2014-C17 ASB 3.477% 8/47

   436,000    **    440,883
  

MSBAM 2015-C21 ASB 3.15% 03/48

   88,000    **    87,715
  

MSBAM 2016-C31 A1 1.555% 11/21

   124,470    **    121,784
  

UBSBB 2012-C2 A4 3.525 5/63

   343,000    **    347,774
  

WFRBS 14-C20 ASB 3.638% 05/47

   168,000    **    170,878
  

WFRBS 2014-C22 ASB 3.464% 9/57

   576,000    **    584,183
  

WFRBS 2013-C14 A5 3.337% 6/46

   494,000    **    496,242
  

WFRBS 2012-C9 A3 2.87% 11/45

   419,625    **    417,273
  

WFRBS 2011-C3 A4 4.375% 3/44

   437,000    **    447,113
  

WFRBS 2012-C7 A2 3.431% 6/45

   271,000    **    273,173
  

WFRBS 2013-C11 A5 3.071% 03/45

   1,086,000    **    1,080,666
  

WFRBS 2013-C12 A4 3.198% 3/48

   151,000    **    150,799
  

WFRBS 13-C12 ASB 2.838% 03/48

   59,998    **    59,650
  

WFRBS 2013-C16 A5 4.415% 09/46

   312,000    **    327,899
  

WFRBS 13-C16 ASB 3.963% 09/46

   137,394    **    140,161
  

WFRBS 14-C23 ASB 3.636% 10/57

   201,000    **    205,165
  

WFCM 2012-LC5 A3 2.918% 10/45

   761,144    **    754,882
  

WFCM 2013-LC12 A1 1.676% 7/46

   40,067    **    40,071
  

WFCM 2015-C27 ASB 3.278% 2/48

   354,000    **    356,780
  

WFCM 2016-C34 A2 2.603% 06/49

   354,000    **    348,863
  

WFCM 2016-LC25 1.795% 12/15/59

   84,783    **    84,013
  

WFCM 2016-C36 A1 1.453% 11/59

   68,383    **    67,201
  

WFCM 2016-C37 A2 3.103% 12/49

   268,000    **    268,153
        

 

  

 

  

Total Mortgage Backed Securities

      —      $63,632,583
        

 

  

 

  

Asset Backed Securities:

        
  

AMOT 2017-3 A2 2.04% 6/22

   446,000    **    $440,020
  

AMOT 2018-1 A2 2.7% 01/23

   540,000    **    536,544
  

AMOT 2018-2 A 3.29% 05/23

   683,000    **    687,912
  

AMXCA 2017-3 A 1.77% 11/22

   636,000    **    627,401
  

AMXCA 2017-6 A 2.04% 05/23

   488,000    **    480,918
  

AMXCA 2018-4 A 2.99% 12/15/23

   543,000    **    545,147
  

AMXCA 2018-6 A 0% 02/24

   539,000    **    541,665
  

AMXCA 2017-1 A 1.93% 09/22

   879,000    **    869,358
  

BACCT 2017-A1 A1 1.95% 08/22

   772,000    **    763,455
  

BACCT 2017-A2 A2 1.84% 1/23

   678,000    **    666,417
  

BACCT 2018-A1 A1 2.7% 04/23

   674,000    **    672,389
  

BACCT 2018-A2 A2 3% 09/23

   547,000    **    549,275
  

BMWFT 2018-1 A1 3.15% 5/23

   499,000    **    500,679
  

BMWLT 2017-2 A3 2.07% 10/20

   289,000    **    287,036
  

BMWLT 2018-1 A3 3.06% 07/21

   234,000    **    235,340
  

BWSTA 18-1 A3 3.52% 12/22 144A

   276,000    **    278,152
  

CNH 2018-A A3 3.23% 07/23

   497,000    **    499,140
  

CPART 17-1A A3 2.05% 03/21

   345,000    **    342,848
  

CPART 18-2A A3 3.429% 12/22

   412,000    **    415,577
  

COMET 2015-A2 A2 2.08% 03/23

   179,000    **    177,015

 

20


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

  

COMET 2015-A8 A8 2.05% 08/23

   430,000    **    424,057
  

COMET 2016-A3 A3 1.34% 04/22

   359,000    **    356,450
  

COMET 2016-A4 A4 1.33% 6/15/22

   656,000    **    649,758
  

COMET 2017-A1 A1 2% 01/23

   628,000    **    621,654
  

COMET 2017-A4 A4 1.99% 07/23

   865,000    **    852,240
  

COMET 2018-A1 A1 3.01% 02/24

   361,000    **    363,390
  

CARMX 16-4 A3 1.4% 08/21

   440,454    **    435,613
  

CARMX 2015-3 A3 1.63% 06/20

   28,506    **    28,491
  

CARMX 2016-2 A3 1.52% 02/21

   150,097    **    149,286
  

CARMX 2017-4 A3 2.15% 10/22

   244,000    **    241,729
  

CARMX 2017-3 A3 1.97% 04/22

   236,000    **    233,630
  

CARMX 2018-2 A3 2.98% 01/23

   293,000    **    295,096
  

CARMX 2018-4 A3 3.36% 09/23

   334,000    **    336,787
  

CHAIT 2016-A2 A 1.37% 06/15/21

   813,000    **    807,381
  

CHAIT 2016-A5 A5 1.27% 07/21

   660,000    **    654,587
  

CCCIT 2016-A1 A1 0% 11/21

   814,000    **    807,024
  

CCCIT 2017-A3 A3 1.92% 04/22

   703,000    **    697,183
  

CCCIT 2017-A8 A8 1.86% 8/8/22

   600,000    **    594,687
  

CCCIT 2017-A9 A9 1.8% 09/21

   602,000    **    600,185
  

CCCIT 2018-A1 A1 2.539% 01/23

   555,000    **    556,705
  

DEFT 18-1 A3 3.39% 06/23

   169,000    **    169,189
  

DEFT 2018-2 A3 3.44% 10/23

   226,000    **    227,183
  

DCENT 2015-A2 A 1.9% 10/22

   515,000    **    508,337
  

DCENT 2016-A3 A3 1.85% 10/23

   440,000    **    431,458
  

DCENT 2016-A4 A4 1.39% 3/22

   657,000    **    650,158
  

DCENT 2017-A6 A6 1.88% 2/15/23

   449,000    **    442,109
  

DCENT 2018-A5 A5 3.32% 03/24

   659,000    **    667,997
  

FITAT 2017-1 A3 1.8% 02/22

   371,000    **    367,255
  

FORDO 2018-A A3 3.03% 11/22

   539,000    **    539,977
  

FORDF 2016-1 A1 1.76% 02/21

   310,000    **    309,653
  

FORDF 2017-1 A1 2.07% 05/15/22

   374,000    **    369,308
  

FORDF 2017-2 A1 2.16% 09/22

   595,000    **    586,754
  

FORDF 2018-1 A1 2.95% 5/21

   678,000    **    677,067
  

FORDR 14-1 A 2.26% 11/25

   470,000    **    469,026
  

FORDR 2014-2 A 2.31% 04/26

   1,015,000    **    1,008,920
  

FORD CRD 16-1 A 2.31% 08/27

   249,000    **    245,862
  

FORDR 2015-2 A 2.44% 01/27

   327,000    **    324,607
  

FORDO 2016-C A3 1.22% 03/21

   485,959    **    481,703
  

FORDO 2017-A A3 1.67% 6/21

   526,511    **    522,889
  

FORDO 2016-A A3 2.01% 07/20

   118,056    **    117,807
  

FORDO 16-B A3 1.33% 10/20

   163,337    **    162,685
  

GFORT 17-1 A1 2.22% 1/22 144A

   510,000    **    506,020
  

GFORT 2018-2 A1 3.25% 3/23

   513,000    **    513,761
  

GMALT 2018-2 A3 3.1% 06/21

   296,000    **    295,832
  

GMCAR 2018-1A A3 2.39% 7/18/22

   254,000    **    251,629
  

HAROT 2016-4 A3 1.21% 12/20

   440,568    **    436,793
  

HAROT 2017-1 A3 1.72% 07/21

   455,971    **    452,268
  

HUNT AUTO 16-1 A3 1.57% 11/20

   134,483    **    134,005
  

HART 2016-B A3 1.29% 4/21

   559,929    **    554,821
  

HART 2018-A A3 2.79% 07/22

   340,000    **    340,150
  

HART 2015-C A3 1.46% 02/20

   11,729    **    11,728
  

HFMOT 2016-1A A2 1.81% 03/21

   351,000    **    349,853
  

HART 2016-A A3 1.56% 09/20

   87,416    **    87,148
  

KCOT 2018-1A A3 3.1% 08/22

   678,000    **    682,255
  

NMOTR 2016-A A2 1.54% 06/21

   352,000    **    349,886

 

21


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

  

NAROT 2017-A A3 1.74% 08/21

   628,000    **    622,643
  

NAROT 2016-B A3 1.32% 01/15/21

   197,613    **    196,150
  

SRT 2017-A A3 2.58% 01/21

   574,000    **    569,662
  

SRT 2018-A A3 2.93% 05/21

   454,000    **    453,835
  

SSTRT 17-2A A3 2.04% 4/21 144A

   358,000    **    354,295
  

SSTRT 2016-1A A3 1.524% 03/20

   92,669    **    92,392
  

SSTRT 2018-2A A3 3.51% 8/25/22

   660,000    **    665,504
  

SSTRT 17-1A A3 1.89% 8/20

   493,817    **    491,470
  

TAOT 2018-B A3 2.96% 09/22

   529,000    **    529,824
  

USAOT 2017-1 A3 1.79% 05/21

   205,000    **    203,638
  

VZOT 16-1A A 1.42% 01/21

   287,846    **    286,562
  

VZOT 17-2A A 1.92% 12/21

   360,000    **    356,526
  

VZOT 2017-3A A1A 2.06% 04/22

   600,000    **    593,163
  

VALET 2018-1 A3 3.32% 11/22

   320,000    **    320,355
  

WOART 16-B A3 1.3% 2/22

   382,596    **    378,371
  

WOART 2016-A A3 1.77% 09/21

   179,721    **    178,575
        

 

  

 

  

Total Asset Backed Securities

      —      $40,361,279
        

 

  

 

  

Corporate Bonds:

        
  

APPLE INC 2.85% 5/6/21

   510,000    **    $512,547
  

AUST & NZ BKG NY 2.25% 6/13/19

   710,000    **    708,389
  

AUS & NZ BKG 2.125% 8/19/20

   398,000    **    394,708
  

BANK OF MONTREAL 1.5% 7/18/19

   1,000,000    **    999,292
  

BK OF NOVA SCOTIA 2.05% 6/5/19

   1,000,000    **    997,540
  

BANK NOVA SCOTIA 2.8% 07/21/21

   500,000    **    501,878
  

BNK OF NOVA SCOTIA 2.7% 3/7/22

   640,000    **    631,478
  

BERKSHIRE HATH 1.7% 3/15/19

   277,000    **    277,775
  

BERKSHIRE HTHWY INC 2.1% 08/19

   1,000,000    **    1,003,177
  

BERKSHIRE HATH 2.2% 3/15/21

   244,000    **    242,372
  

BERKSHIRE HATH 2.75% 3/15/23

   320,000    **    316,709
  

CANADIAN IMP BANK 2.55% 6/22

   926,000    **    902,630
  

CHEVRON CORP 2.419% 11/17/20

   940,000    **    933,944
  

CISCO SYSTEMS INC 2.125% 3/19

   690,000    **    693,917
  

CISCO SYSTEMS 2.45% 6/15/20

   1,000,000    **    995,629
  

CISCO SYSTEMS 1.85% 9/20/21

   490,000    **    478,978
  

COMMONWEALTH NY 2.25% 03/13/19

   681,000    **    684,872
  

COMMONWEALTH BK NY 2.3% 9/6/19

   650,000    **    651,576
  

COMMWLTH BK ASTL NYB 2.3% 3/20

   310,000    **    308,880
  

EXXON MOBIL CORP 2.726% 3/1/23

   503,000    **    499,183
  

EXXON MOBIL CORP 2.222% 3/1/21

   640,000    **    635,503
  

GENERAL ELEC CO 3.375% 3/11/24

   602,000    **    568,505
  

GUARDIAN LIFE 3.4% 4/23 144A

   700,000    **    701,695
  

HSBC HLDNGS 3.262/VAR 3/13/23

   1,000,000    **    988,399
  

HSBC USA INC 2.25% 06/23/19

   1,000,000    **    996,508
  

JOHNSON & JOHNSON 2.25% 03/22

   2,385,000    **    2,366,548

*

  

JPMORGAN CHASE 1.65% 9/23/19

   2,000,000    **    1,990,611
  

MASSMUTUAL 1.55% 10/11/19 144A

   2,000,000    **    1,984,633
  

MASSMUTUL GLBL 2.5% 4/22 144A

   640,000    **    628,276
  

MERCK & CO INC NEW 1.85% 02/20

   1,000,000    **    998,174
  

MET LFE GLB 1.55% 9/13/19 144A

   1,500,000    **    1,491,962
  

MET LIFE GLOB 2.65% 4/22 144A

   950,000    **    931,592
  

MICROSOFT CORP 1.55% 8/8/21

   1,000,000    **    977,583
  

MIDAMERICAN ENE 2.4% 03/15/19

   750,000    **    754,489
  

NYLIFE GLBL 1.7% 9/14/21 144A

   1,000,000    **    968,713
  

NY LFE GLB 2.3% 6/10/22 144A

   1,000,000    **    965,206

 

22


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2018

 

(a)

  

(b)
Identity of issue, borrower, lessor, or similar party

  

(c)
Description of
investment including
maturity date, rate of
interest, collateral,  par,
or maturity value

  

    (d) Cost    

  

(e)
  Current value  

  

NOVARTIS CAP 2.4% 05/17/22

   1,000,000    **    978,175
  

ONTARIO PROVINCE CDA 2.4% 2/22

   648,000    **    645,138
  

ONTARIO PROV 4% 10/7/19

   2,000,000    **    2,037,007
  

ORACLE CORP 1.9% 09/15/21

   660,000    **    644,178
  

PECO ENERGY CO 1.7% 9/30/21

   660,000    **    639,116
  

PRICOA GBL 1.45% 9/13/19 144A

   497,000    **    493,800
  

PRICOA GLBL 2.45% 9/21/22 144A

   448,000    **    436,003
  

PROTECTVE LFE 2.615% 8/22 144A

   450,000    **    441,595
  

PROTECTIVE LF 2.161% 9/20 144A

   456,000    **    450,410
  

PUBLIC SVC ELEC 1.8% 06/01/19

   700,000    **    696,996
  

QUEBEC PROVINCE 2.375% 1/31/22

   1,234,000    **    1,231,176
  

ROYAL BK CAN GL 2.35% 10/30/20

   1,300,000    **    1,289,117
  

ROYAL BANK OF CANA 2.15% 10/20

   800,000    **    790,474
  

ROYAL BK CDA 3.2% 04/30/21

   340,000    **    341,796
  

SHELL INTL FIN BV 2.125% 05/20

   468,000    **    464,567
  

SHELL INTL 2.25% 11/10/20

   806,000    **    798,806

*

  

STATE STREET CRP 1.95% 5/19/21

   1,000,000    **    974,265
  

SVENSKA 3.35% 05/24/21

   700,000    **    702,002
  

TORONTO DOM BK 2.125% 7/02/19

   340,000    **    342,320
  

TORONTO DOMINION 2.25% 11/5/19

   800,000    **    798,427
  

TORONTO DOM BANK 2.125% 4/7/21

   350,000    **    344,213
  

TOTAL CAP INTL 2.125% 01/10/19

   700,000    **    706,900
  

TOTAL CAP INTL 2.75% 06/19/21

   340,000    **    338,355
  

TOYOTA MOTOR CRDIT 2.125% 7/19

   500,000    **    502,127
  

TOYOTA MOTOR CORP 2.6% 1/11/22

   780,000    **    778,265
  

US BANK NA CIN 2.125% 10/19

   1,451,000    **    1,446,163
  

WELLS FARGO 3% 01/22/21

   635,000    **    640,558
  

WELLS FARGO & CO MTN 2.6% 7/20

   460,000    **    460,749
  

WELLS FARGO BANK 2.6% 1/15/21

   2,700,000    **    2,698,747
  

WESTPAC BANKING 4.875 11/19/19

   620,000    **    633,149
  

WESTPAC BANKING 1.6% 08/19/19

   650,000    **    648,040
  

WESTPAC BANKING 2.8% 1/11/22

   651,000    **    647,343
        

 

  

 

  

Total Corporate Bonds

      —      $55,723,848
        

 

  

 

  

Synthetic guaranteed investment contract and wrapper contracts:

        
  

ADJUSTMENT FROM FAIR VALUE TO CONTRACT VALUE GUARANTEED INVESTMENT CONTRACT

      **    $2,583,123
        

 

  

 

  

Total synthetic guaranteed investment contract and wrapper contracts

      —      $2,583,123
        

 

  

 

*

  

Participant loans

  

3.25% - 5.25%

Maturing 2019 - 2025

   **    $71,944,590
        

 

  

 

  

Total investments at year end

      240,646,831    $4,414,337,237
        

 

  

 

 

*

Party-in-interest

**

Historical cost is disclosed only for non-participant directed investments

 

23


Table of Contents

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Employee Benefit Plans Administrative Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 27, 2019     

NextEra Energy, Inc. Employee Retirement

Savings Plan

  
     (Name of Plan)   
  By:   

/s/ Deborah H. Caplan

  
    

Deborah H. Caplan

Chairman of the Employee Benefit Plans Administrative Committee

  

 

24


Table of Contents

EXHIBIT INDEX

 

Exhibit

Number

 

Description

23(a)   Consent of Crowe LLP

 

25