10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2011 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| OPERATING REVENUES | $ 15,341,000,000 | 15,317,000,000 | 15,643,000,000 |
| OPERATING EXPENSES | |||
| Fuel, purchased power and interchange | 6,256,000,000 | 6,242,000,000 | 7,405,000,000 |
| Other operations and maintenance | 3,002,000,000 | 2,877,000,000 | 2,649,000,000 |
| Impairment charges | 51,000,000 | 19,000,000 | 0 |
| Depreciation and amortization | 1,567,000,000 | 1,788,000,000 | 1,765,000,000 |
| Taxes other than income taxes and other | 1,087,000,000 | 1,148,000,000 | 1,230,000,000 |
| Total operating expenses | 11,963,000,000 | 12,074,000,000 | 13,049,000,000 |
| OPERATING INCOME | 3,378,000,000 | 3,243,000,000 | 2,594,000,000 |
| OTHER INCOME (DEDUCTIONS) | |||
| Interest expense | (1,035,000,000) | (979,000,000) | (849,000,000) |
| Loss on sale of natural gas-fired generating assets | (151,000,000) | 0 | 0 |
| Equity in earnings of equity method investees | 55,000,000 | 58,000,000 | 52,000,000 |
| Allowance for equity funds used during construction | 39,000,000 | 37,000,000 | 53,000,000 |
| Interest income | 79,000,000 | 91,000,000 | 78,000,000 |
| Gains on disposal of assets - net | 85,000,000 | 67,000,000 | 60,000,000 |
| Other than temporary impairment losses on securities held in nuclear decommissioning funds | (36,000,000) | (16,000,000) | (58,000,000) |
| Other - net | 38,000,000 | (12,000,000) | 12,000,000 |
| Total other deductions - net | (926,000,000) | (754,000,000) | (652,000,000) |
| INCOME BEFORE INCOME TAXES | 2,452,000,000 | 2,489,000,000 | 1,942,000,000 |
| INCOME TAXES | 529,000,000 | 532,000,000 | 327,000,000 |
| NET INCOME | 1,923,000,000 | 1,957,000,000 | 1,615,000,000 |
| Earnings per share of common stock: | |||
| Basic (in dollars per share) | 5 | 5 | 4 |
| Assuming dilution (in dollars per share) | 5 | 5 | 4 |
| Dividends per share of common stock (in dollars per share) | 2 | 2 | 2 |
| Weighted-average number of common shares outstanding: | |||
| Basic (in shares) | 416,600,000 | 410,300,000 | 404,400,000 |
| Assuming dilution (in shares) | 419,000,000 | 413,000,000 | 407,200,000 |
| Legal Entity | |||
| Florida Power and Light Company | |||
| OPERATING REVENUES | 10,613,000,000 | 10,485,000,000 | 11,491,000,000 |
| Fuel, purchased power and interchange | 4,977,000,000 | 4,982,000,000 | 6,220,000,000 |
| Other operations and maintenance | 1,699,000,000 | 1,620,000,000 | 1,496,000,000 |
| Depreciation and amortization | 798,000,000 | 1,008,000,000 | 1,097,000,000 |
| Taxes other than income taxes and other | 1,063,000,000 | 1,026,000,000 | 1,097,000,000 |
| Total operating expenses | 8,537,000,000 | 8,636,000,000 | 9,910,000,000 |
| OPERATING INCOME | 2,076,000,000 | 1,849,000,000 | 1,581,000,000 |
| Interest expense | (387,000,000) | (361,000,000) | (318,000,000) |
| Allowance for equity funds used during construction | 35,000,000 | 36,000,000 | 53,000,000 |
| Other - net | (2,000,000) | 1,000,000 | (12,000,000) |
| Total other deductions - net | (354,000,000) | (324,000,000) | (277,000,000) |
| INCOME BEFORE INCOME TAXES | 1,722,000,000 | 1,525,000,000 | 1,304,000,000 |
| INCOME TAXES | 654,000,000 | 580,000,000 | 473,000,000 |
| NET INCOME | 1,068,000,000 | 945,000,000 | 831,000,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2011 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income (loss) | $ 1,923,000,000 | 1,957,000,000 | 1,615,000,000 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 1,567,000,000 | 1,788,000,000 | 1,765,000,000 |
| Nuclear fuel amortization | 277,000,000 | 285,000,000 | 239,000,000 |
| Loss on sale of natural gas-fired generating assets | 151,000,000 | 0 | 0 |
| Impairment charges | 51,000,000 | 19,000,000 | 0 |
| Unrealized (gains) losses on marked to market energy contracts | (271,000,000) | (386,000,000) | 59,000,000 |
| Deferred income taxes | 553,000,000 | 511,000,000 | 273,000,000 |
| Cost recovery clauses and franchise fees | 181,000,000 | (629,000,000) | 624,000,000 |
| Changes in prepaid option premiums and derivative settlements | (11,000,000) | 86,000,000 | (11,000,000) |
| Equity in earnings of equity method investees | (55,000,000) | (58,000,000) | (52,000,000) |
| Distributions of earnings from equity method investees | 95,000,000 | 74,000,000 | 69,000,000 |
| Allowance for equity funds used during construction | (39,000,000) | (37,000,000) | (53,000,000) |
| Gains on disposal of assets - net | (85,000,000) | (67,000,000) | (60,000,000) |
| Other than temporary impairment losses on securities held in nuclear decommissioning funds | 36,000,000 | 16,000,000 | 58,000,000 |
| Other - net | 203,000,000 | 38,000,000 | 119,000,000 |
| Changes in operating assets and liabilities: | |||
| Customer receivables | 93,000,000 | (73,000,000) | 18,000,000 |
| Other receivables | 56,000,000 | (29,000,000) | (13,000,000) |
| Materials, supplies and fossil fuel inventory | (308,000,000) | 22,000,000 | 85,000,000 |
| Other current assets | (22,000,000) | (52,000,000) | 9,000,000 |
| Other assets | (103,000,000) | 42,000,000 | (103,000,000) |
| Accounts payable | (97,000,000) | 179,000,000 | (86,000,000) |
| Customer deposits | (87,000,000) | 21,000,000 | 38,000,000 |
| Margin cash collateral | 81,000,000 | 61,000,000 | (110,000,000) |
| Income taxes | 62,000,000 | 56,000,000 | 8,000,000 |
| Interest and other taxes | 12,000,000 | (3,000,000) | 22,000,000 |
| Other current liabilities | 3,000,000 | 76,000,000 | (45,000,000) |
| Other liabilities | (192,000,000) | (63,000,000) | (5,000,000) |
| Net cash provided by operating activities | 4,074,000,000 | 3,834,000,000 | 4,463,000,000 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Capital expenditures | (3,137,000,000) | (2,605,000,000) | (2,522,000,000) |
| Independent power and other investments of NextEra Energy Resources | (2,601,000,000) | (2,899,000,000) | (3,068,000,000) |
| Cash grants under the American Recovery and Reinvestment Act of 2009 | 624,000,000 | 588,000,000 | 100,000,000 |
| Funds received from a spent fuel settlement | 73,000,000 | 44,000,000 | 86,000,000 |
| Nuclear fuel purchases | (538,000,000) | (274,000,000) | (362,000,000) |
| Other capital expenditures | (352,000,000) | (68,000,000) | (54,000,000) |
| Sale of natural gas-fired generating assets | 1,204,000,000 | 0 | 0 |
| Loan proceeds restricted for construction | (565,000,000) | 0 | 0 |
| Proceeds from sale or maturity of securities in special use funds | 4,348,000,000 | 6,726,000,000 | 4,592,000,000 |
| Purchases of securities in special use funds | (4,440,000,000) | (6,835,000,000) | (4,710,000,000) |
| Proceeds from sale or maturity of other securities | 488,000,000 | 721,000,000 | 773,000,000 |
| Purchases of other securities | (515,000,000) | (714,000,000) | (782,000,000) |
| Other - net | 132,000,000 | 32,000,000 | 12,000,000 |
| Net cash used in investing activities | (5,279,000,000) | (5,284,000,000) | (5,935,000,000) |
| CASH FLOWS FROM FINANCING ACTIVITES | |||
| Issuances of long-term debt | 3,940,000,000 | 3,724,000,000 | 3,220,000,000 |
| Retirements of long-term debt | (2,121,000,000) | (769,000,000) | (1,635,000,000) |
| Proceeds from sale of differential membership interests | 466,000,000 | 261,000,000 | 0 |
| Payments to differential membership investors | (100,000,000) | 0 | 0 |
| Net change in short-term debt | 460,000,000 | (1,130,000,000) | 154,000,000 |
| Issuances of common stock - net | 48,000,000 | 308,000,000 | 198,000,000 |
| Repurchases of common stock | (375,000,000) | 0 | 0 |
| Dividends on common stock | (920,000,000) | (823,000,000) | (766,000,000) |
| Other - net | (118,000,000) | (57,000,000) | 4,000,000 |
| Net cash provided by (used in) financing activities | 1,280,000,000 | 1,514,000,000 | 1,175,000,000 |
| Net increase (decrease) in cash and cash equivalents | 75,000,000 | 64,000,000 | (297,000,000) |
| Cash and cash equivalents at beginning of year | 302,000,000 | 238,000,000 | |
| Cash and cash equivalents at end of year | 377,000,000 | 302,000,000 | 238,000,000 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
| Cash paid for interest (net of amount capitalized) | 978,000,000 | 916,000,000 | 805,000,000 |
| Cash paid (received) for income taxes - net | (95,000,000) | 20,000,000 | 61,000,000 |
| SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES | |||
| Assumption of debt in connection with the purchase of independent power projects | 0 | 35,000,000 | 0 |
| Accrued property additions | 909,000,000 | 545,000,000 | 683,000,000 |
| Sale of natural gas-fired generating assets through assumption of debt by buyer | 158,000,000 | 0 | 0 |
| Legal Entity | |||
| Florida Power and Light Company | |||
| Net income (loss) | 1,068,000,000 | 945,000,000 | 831,000,000 |
| Depreciation and amortization | 798,000,000 | 1,008,000,000 | 1,097,000,000 |
| Nuclear fuel amortization | 147,000,000 | 137,000,000 | 127,000,000 |
| Deferred income taxes | 675,000,000 | 419,000,000 | 391,000,000 |
| Cost recovery clauses and franchise fees | 181,000,000 | (629,000,000) | 624,000,000 |
| Allowance for equity funds used during construction | (35,000,000) | (36,000,000) | (53,000,000) |
| Other - net | 73,000,000 | 16,000,000 | 75,000,000 |
| Customer receivables | 28,000,000 | 127,000,000 | (42,000,000) |
| Other receivables | 37,000,000 | (43,000,000) | 42,000,000 |
| Materials, supplies and fossil fuel inventory | (254,000,000) | 23,000,000 | 34,000,000 |
| Other current assets | (20,000,000) | (25,000,000) | 6,000,000 |
| Other assets | (52,000,000) | 40,000,000 | (62,000,000) |
| Accounts payable | (49,000,000) | 51,000,000 | (91,000,000) |
| Customer deposits | (88,000,000) | 22,000,000 | 37,000,000 |
| Income taxes | (215,000,000) | (129,000,000) | (132,000,000) |
| Interest and other taxes | (21,000,000) | 7,000,000 | 10,000,000 |
| Other current liabilities | 32,000,000 | 22,000,000 | (33,000,000) |
| Other liabilities | (60,000,000) | (21,000,000) | 10,000,000 |
| Net cash provided by operating activities | 2,245,000,000 | 1,934,000,000 | 2,871,000,000 |
| Capital expenditures | (3,137,000,000) | (2,605,000,000) | (2,522,000,000) |
| Cash grants under the American Recovery and Reinvestment Act of 2009 | 218,000,000 | 161,000,000 | 0 |
| Funds received from a spent fuel settlement | 57,000,000 | 32,000,000 | 71,000,000 |
| Nuclear fuel purchases | (365,000,000) | (101,000,000) | (195,000,000) |
| Proceeds from sale or maturity of securities in special use funds | 2,988,000,000 | 5,079,000,000 | 3,270,000,000 |
| Purchases of securities in special use funds | (3,052,000,000) | (5,160,000,000) | (3,349,000,000) |
| Other - net | 32,000,000 | 33,000,000 | (1,000,000) |
| Net cash used in investing activities | (3,259,000,000) | (2,561,000,000) | (2,726,000,000) |
| Issuances of long-term debt | 840,000,000 | 924,000,000 | 516,000,000 |
| Retirements of long-term debt | (45,000,000) | (42,000,000) | (263,000,000) |
| Net change in short-term debt | 229,000,000 | (717,000,000) | 45,000,000 |
| Capital contribution from NEE | 410,000,000 | 660,000,000 | 0 |
| Dividends on common stock | (400,000,000) | (250,000,000) | (485,000,000) |
| Other - net | (4,000,000) | (11,000,000) | 5,000,000 |
| Net cash provided by (used in) financing activities | 1,030,000,000 | 564,000,000 | (182,000,000) |
| Net increase (decrease) in cash and cash equivalents | 16,000,000 | (63,000,000) | (37,000,000) |
| Cash and cash equivalents at beginning of year | 36,000,000 | 83,000,000 | 83,000,000 |
| Cash and cash equivalents at end of year | 36,000,000 | 83,000,000 | 83,000,000 |
| Cash paid for interest (net of amount capitalized) | 389,000,000 | 321,000,000 | 305,000,000 |
| Cash paid (received) for income taxes - net | 194,000,000 | 291,000,000 | 232,000,000 |
| Accrued property additions | 526,000,000 | 275,000,000 | 418,000,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NEXTERA ENERGY INC | ||
Ticker: NEE Fiscal Year: 2011 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | ||
| (In Dollars) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| PROPERTY, PLANT AND EQUIPMENT | ||
| Electric utility plant in service and other property | $ 50,768,000,000 | 48,841,000,000 |
| Nuclear fuel | 1,795,000,000 | 1,539,000,000 |
| Construction work in progress | 4,989,000,000 | 3,841,000,000 |
| Less accumulated depreciation and amortization | (15,062,000,000) | (15,146,000,000) |
| Total property, plant and equipment - net ($3,063 and $2,398 related to VIEs, respectively) | 42,490,000,000 | 39,075,000,000 |
| ELECTRIC UTILITY PLANT | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | 377,000,000 | 302,000,000 |
| Customer receivables, net of allowances | 1,372,000,000 | 1,509,000,000 |
| Other receivables | 430,000,000 | 1,073,000,000 |
| Materials, supplies and fossil fuel inventory | 1,074,000,000 | 857,000,000 |
| Regulatory assets: | ||
| Deferred clause and franchise expenses | 112,000,000 | 368,000,000 |
| Derivatives | 502,000,000 | 236,000,000 |
| Other | 84,000,000 | 82,000,000 |
| Derivatives | 611,000,000 | 506,000,000 |
| Other | 310,000,000 | 325,000,000 |
| Total current assets | 4,872,000,000 | 5,258,000,000 |
| OTHER ASSETS | ||
| Special use funds | 3,867,000,000 | 3,742,000,000 |
| Other investments | 907,000,000 | 971,000,000 |
| Prepaid benefit costs | 1,021,000,000 | 1,259,000,000 |
| Regulatory assets: | ||
| Securitized storm-recovery costs ($317 and $356 related to a VIE, respectively) | 517,000,000 | 581,000,000 |
| Other | 621,000,000 | 329,000,000 |
| Derivatives | 973,000,000 | 589,000,000 |
| Other | 1,920,000,000 | 1,190,000,000 |
| Total other assets | 9,826,000,000 | 8,661,000,000 |
| TOTAL ASSETS | 57,188,000,000 | 52,994,000,000 |
| CAPITALIZATION | ||
| Common stock | 4,000,000 | 4,000,000 |
| Additional paid-in capital | 5,217,000,000 | 5,418,000,000 |
| Retained earnings | 9,876,000,000 | 8,873,000,000 |
| Accumulated other comprehensive (loss) income | (154,000,000) | 166,000,000 |
| Total common shareholders' equity | 14,943,000,000 | 14,461,000,000 |
| Long-term debt | 20,810,000,000 | 18,013,000,000 |
| Total capitalization | 35,753,000,000 | 32,474,000,000 |
| CURRENT LIABILITIES | ||
| Commercial Paper | 1,349,000,000 | 889,000,000 |
| Current maturities of long-term debt | 808,000,000 | 1,920,000,000 |
| Accounts payable | 1,191,000,000 | 1,124,000,000 |
| Customer deposits | 547,000,000 | 634,000,000 |
| Accrued interest and taxes | 464,000,000 | 462,000,000 |
| Derivatives | 1,090,000,000 [1] | 536,000,000 |
| Accrued construction-related expenditures | 518,000,000 | 371,000,000 |
| Other | 752,000,000 | 968,000,000 |
| Total current liabilities | 6,719,000,000 | 6,904,000,000 |
| OTHER LIABILITIES AND DEFERRED CREDITS | ||
| Asset retirement obligations | 1,611,000,000 | 1,639,000,000 |
| Accumulated deferred income taxes | 5,681,000,000 | 5,109,000,000 |
| Regulatory liabilities: | ||
| Accrued asset removal costs | 2,197,000,000 | 2,244,000,000 |
| Asset retirement obligation regulatory expense difference | 1,640,000,000 | 1,592,000,000 |
| Other | 419,000,000 | 423,000,000 |
| Derivatives | 541,000,000 [2] | 243,000,000 |
| Deferral related to differential membership interests - VIEs | 1,203,000,000 | 949,000,000 |
| Other | 1,424,000,000 | 1,417,000,000 |
| Total other liabilities and deferred credits | 14,716,000,000 | 13,616,000,000 |
| TOTAL CAPITALIZATION AND LIABILITIES | 57,188,000,000 | 52,994,000,000 |
| Legal Entity | ||
| Florida Power and Light Company | ||
| Plant in service | 31,564,000,000 | 29,519,000,000 |
| Nuclear fuel | 1,005,000,000 | 729,000,000 |
| Construction work in progress | 2,601,000,000 | 2,175,000,000 |
| Less accumulated depreciation and amortization | (10,916,000,000) | (10,871,000,000) |
| Electric utility plant - net | 24,254,000,000 | 21,552,000,000 |
| Cash and cash equivalents | 36,000,000 | 20,000,000 |
| Customer receivables, net of allowances | 682,000,000 | 710,000,000 |
| Other receivables | 312,000,000 | 395,000,000 |
| Materials, supplies and fossil fuel inventory | 759,000,000 | 505,000,000 |
| Deferred clause and franchise expenses | 112,000,000 | 368,000,000 |
| Derivatives | 502,000,000 | 236,000,000 |
| Other | 80,000,000 | 76,000,000 |
| Other | 166,000,000 | 145,000,000 |
| Total current assets | 2,649,000,000 | 2,455,000,000 |
| Special use funds | 2,737,000,000 | 2,637,000,000 |
| Prepaid benefit costs | 1,088,000,000 | 1,035,000,000 |
| Securitized storm-recovery costs ($317 and $356 related to a VIE, respectively) | 517,000,000 | 581,000,000 |
| Other | 395,000,000 | 293,000,000 |
| Other | 176,000,000 | 145,000,000 |
| Total other assets | 4,913,000,000 | 4,691,000,000 |
| TOTAL ASSETS | 31,816,000,000 | 28,698,000,000 |
| Common stock | 1,373,000,000 | 1,373,000,000 |
| Additional paid-in capital | 5,464,000,000 | 5,054,000,000 |
| Retained earnings | 4,013,000,000 | 3,364,000,000 |
| Total common shareholders' equity | 10,850,000,000 | 9,791,000,000 |
| Long-term debt | 7,483,000,000 | 6,682,000,000 |
| Total capitalization | 18,333,000,000 | 16,473,000,000 |
| Commercial Paper | 330,000,000 | 101,000,000 |
| Current maturities of long-term debt | 50,000,000 | 45,000,000 |
| Accounts payable | 678,000,000 | 554,000,000 |
| Customer deposits | 541,000,000 | 628,000,000 |
| Accrued interest and taxes | 221,000,000 | 311,000,000 |
| Derivatives | 512,000,000 | 245,000,000 |
| Accrued construction-related expenditures | 261,000,000 | 183,000,000 |
| Other | 373,000,000 | 441,000,000 |
| Total current liabilities | 2,966,000,000 | 2,508,000,000 |
| Asset retirement obligations | 1,144,000,000 | 1,083,000,000 |
| Accumulated deferred income taxes | 4,593,000,000 | 3,835,000,000 |
| Accrued asset removal costs | 2,197,000,000 | 2,244,000,000 |
| Asset retirement obligation regulatory expense difference | 1,640,000,000 | 1,592,000,000 |
| Other | 416,000,000 | 377,000,000 |
| Other | 527,000,000 | 586,000,000 |
| Total other liabilities and deferred credits | 10,517,000,000 | 9,717,000,000 |
| TOTAL CAPITALIZATION AND LIABILITIES | 31,816,000,000 | 28,698,000,000 |
| [1] At December 31, 2011 and 2010, NEE's balances reflect the netting of approximately $112 million and $23 million (none at FPL), respectively, in margin cash collateral provided to counterparties. | ||
| [2] At December 31, 2011 and 2010, NEE's balances reflect the netting of approximately $79 million and $72 million (none at FPL) in margin cash collateral provided to counterparties. | ||
| External Links | |
| NEXTERA ENERGY INC (NEE) Fiscal Year 2011 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |