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: 2017 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| OPERATING REVENUES | $ 17,195 | 16,155 | 17,486 |
| OPERATING EXPENSES (INCOME) | |||
| Fuel, purchased power and interchange | 4,071 | 4,042 | 5,327 |
| Other operations and maintenance | 3,327 | 3,389 | 3,269 |
| Storm restoration costs | 1,255 | 0 | 0 |
| Impairment charges | 446 | 7 | 2 |
| Merger-related | 69 | 135 | 26 |
| Depreciation and amortization | 2,357 | 3,077 | 2,831 |
| Losses (gains) on disposal of a business/assets - net | (1,111) | (446) | 4 |
| Taxes other than income taxes and other - net | 1,455 | 1,343 | 1,395 |
| Total operating expenses - net | 11,869 | 11,547 | 12,854 |
| OPERATING INCOME | 5,326 | 4,608 | 4,632 |
| OTHER INCOME (DEDUCTIONS) | |||
| Interest expense | (1,558) | (1,093) | (1,211) |
| Benefits associated with differential membership interests - net | 460 | 309 | 216 |
| Equity in earnings of equity method investees | 141 | 148 | 107 |
| Allowance for equity funds used during construction | 92 | 86 | 70 |
| Interest income | 81 | 82 | 86 |
| Gains on disposal of investments and other property - net | 114 | 40 | 90 |
| Other than temporary impairment losses on securities held in nuclear decommissioning funds | (10) | (23) | (40) |
| Revaluation of contingent consideration | 0 | 189 | 0 |
| Other - net | 21 | 42 | 40 |
| Total other deductions - net | (659) | (220) | (642) |
| Income (loss) before income taxes | 4,667 | 4,388 | 3,990 |
| INCOME TAX EXPENSE (BENEFIT) | (653) | 1,383 | 1,228 |
| NET INCOME | 5,320 | 3,005 | 2,762 |
| LESS NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS | (58) | 93 | 10 |
| Net income attributable to parent | 5,378 | 2,912 | 2,752 |
| Earnings per share attributable to NEE: | |||
| Basic | 11.47 | 6.29 | 6.11 |
| Assuming dilution | 11.38 | 6.25 | 6.06 |
| Weighted-average number of common shares outstanding: | |||
| Basic | 468,800 | 463,100 | 450,500 |
| Assuming dilution | 472,500 | 465,800 | 454,000 |
| Consolidation Items | |||
| Operating Segments | |||
| Segments | |||
| FPL | |||
| OPERATING REVENUES | 11,972 | 10,895 | 11,651 |
| Depreciation and amortization | 933 | 1,651 | 1,576 |
| Total operating expenses - net | 8,581 | 7,737 | 8,674 |
| Interest expense | (482) | (456) | (445) |
| Equity in earnings of equity method investees | 0 | 0 | 0 |
| Interest income | 2 | 2 | 7 |
| INCOME TAX EXPENSE (BENEFIT) | 1,106 | 1,051 | 957 |
| NET INCOME | 1,880 | 1,727 | 1,648 |
| Net income attributable to parent | 1,880 | 1,727 | 1,648 |
| Legal Entity | |||
| FPL | |||
| OPERATING REVENUES | 11,972 | 10,895 | 11,651 |
| Fuel, purchased power and interchange | 3,542 | 3,297 | 4,276 |
| Other operations and maintenance | 1,559 | 1,600 | 1,617 |
| Storm restoration costs | 1,255 | 0 | 0 |
| Depreciation and amortization | 933 | 1,651 | 1,576 |
| Taxes other than income taxes and other - net | 1,292 | 1,189 | 1,205 |
| Total operating expenses - net | 8,581 | 7,737 | 8,674 |
| OPERATING INCOME | 3,391 | 3,158 | 2,977 |
| Interest expense | (482) | (456) | (445) |
| Allowance for equity funds used during construction | 79 | 74 | 68 |
| Other - net | (2) | 2 | 5 |
| Total other deductions - net | (405) | (380) | (372) |
| Income (loss) before income taxes | 2,986 | 2,778 | 2,605 |
| INCOME TAX EXPENSE (BENEFIT) | 1,106 | 1,051 | 957 |
| Net income attributable to parent | 1,880 | 1,727 [1] | 1,648 |
| [1] FPL's comprehensive income is the same as reported net income | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2017 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net income | $ 5,320 | 3,005 | 2,762 |
| Effective portion of net unrealized losses (net of $37 tax benefit) | 0 | 0 | (88) |
| Reclassification from accumulated other comprehensive income (loss) to net income (net of $13, $32 and $25 tax expense, respectively) | 32 | 70 | 63 |
| Net unrealized gains (losses) on securities still held (net of $94 and $50 tax expense and $8 tax benefit, respectively) | 127 | 69 | (7) |
| Reclassification from accumulated other comprehensive income (loss) to net income (net of $25, $13 and $33 tax benefit, respectively) | (36) | (18) | (37) |
| Defined benefit pension and other benefits plans (net of $28 tax expense, $13 and $26 tax benefit, respectively) | 44 | (21) | (42) |
| Net unrealized gains (losses) on foreign currency translation (net of $1 tax expense, $2 and $2 tax benefit, respectively) | 24 | (5) | (27) |
| Other comprehensive income related to equity method investee (net of $1 and $2 tax expense, respectively) | 2 | 2 | 0 |
| Total other comprehensive income (loss), net of tax | 193 | 97 | (138) |
| COMPREHENSIVE INCOME | 5,513 | 3,102 | 2,624 |
| LESS COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS | (46) | 93 | (1) |
| COMPREHENSIVE INCOME ATTRIBUTABLE TO NEE | 5,559 | 3,009 | 2,625 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2017 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 5,320 | 3,005 | 2,762 |
| NET INCOME | 5,378 | 2,912 | 2,752 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 2,357 | 3,077 | 2,831 |
| Nuclear fuel and other amortization | 272 | 300 | 372 |
| Impairment charges | 446 | 7 | 2 |
| Unrealized losses (gains) on marked to market derivative contracts - net | 436 | (44) | (337) |
| Foreign currency transaction losses (gains) | (25) | 13 | 0 |
| Deferred income taxes | (875) | 1,230 | 1,162 |
| Cost recovery clauses and franchise fees | 82 | 94 | 176 |
| Acquisition of purchased power agreement | (243) | 0 | (521) |
| Benefits associated with differential membership interests - net | (460) | (309) | (216) |
| Gains on disposal of a business, assets and investments - net | (1,225) | (490) | (89) |
| Recoverable storm-related costs | (108) | (223) | 0 |
| Other - net | 90 | (111) | 49 |
| Changes in operating assets and liabilities: | |||
| Current assets | (353) | (162) | 66 |
| Noncurrent assets | (60) | (58) | (109) |
| Current liabilities | 766 | (24) | 64 |
| Noncurrent liabilities | (7) | (12) | (123) |
| Net cash provided by operating activities | 6,413 | 6,293 | 6,089 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Capital expenditures of FPL | (5,174) | (3,776) | (3,428) |
| Independent power and other investments of NEER | (5,295) | (5,396) | (4,505) |
| Cash grants under the American Recovery and Reinvestment Act of 2009 | 78 | 335 | 8 |
| Nuclear fuel purchases | (197) | (283) | (361) |
| Other capital expenditures and other investments | (74) | (181) | (83) |
| Proceeds from sale of the fiber-optic telecommunications business | 1,454 | 0 | 0 |
| Sale of independent power and other investments of NEER | 178 | 658 | 52 |
| Proceeds from sale or maturity of securities in special use funds and other investments | 3,207 | 3,776 | 4,851 |
| Purchases of securities in special use funds and other investments | (3,244) | (3,829) | (4,982) |
| Proceeds from sales of noncontrolling interests in NEP | 0 | 645 | 345 |
| Other - net | 149 | 5 | 107 |
| Net cash used in investing activities | (8,918) | (8,046) | (7,996) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Issuances of long-term debt | 8,354 | 5,657 | 5,772 |
| Retirements of long-term debt | (6,780) | (3,310) | (3,972) |
| Proceeds from differential membership investors | 1,414 | 1,859 | 761 |
| Net change in commercial paper | 1,419 | (106) | (768) |
| Proceeds from other short-term debt | 450 | 500 | 1,225 |
| Repayments of other short-term debt | (2) | (662) | (813) |
| Issuances of common stock - net | 55 | 537 | 1,298 |
| Proceeds from issuance of NEP convertible preferred units - net | 548 | 0 | 0 |
| Dividends on common stock | (1,845) | (1,612) | (1,385) |
| Dividends to NEE | 0 | 0 | 0 |
| Other - net | (680) | (363) | (221) |
| Net cash provided by (used in) financing activities | 2,933 | 2,500 | 1,897 |
| Effects of currency translation on cash, cash equivalents and restricted cash | 26 | 10 | 17 |
| Net increase in cash, cash equivalents and restricted cash | 454 | 757 | 7 |
| Cash, cash equivalents and restricted cash at beginning of year | 1,529 | 772 | |
| Cash, cash equivalents and restricted cash at end of year | 1,983 | 1,529 | 772 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
| Cash paid for interest (net of amount capitalized) | 1,184 | 1,193 | 1,143 |
| Cash paid for income taxes - net | 142 | 91 | 33 |
| SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES | |||
| Accrued property additions | 3,029 | 3,626 | 2,616 |
| Assumption of debt/acquisition hold-backs in connection with Texas pipeline acquisition | 0 | 0 | 1,078 |
| Decrease (Increase) in property, plant and equipment - net as a result of cash grants primarily under the American Recovery and Reinvestment Act of 2009 | (154) | 419 | 224 |
| Increase in property, plant and equipment - net as a result of a settlement/noncash exchange | (108) | (72) | (45) |
| Proceeds from differential membership investors used to reduce debt | 0 | 100 | 0 |
| Legal Entity | |||
| FPL | |||
| NET INCOME | 1,880 | 1,727 [1] | 1,648 |
| Depreciation and amortization | 933 | 1,651 | 1,576 |
| Nuclear fuel and other amortization | 157 | 218 | 209 |
| Deferred income taxes | 905 | 932 | 504 |
| Cost recovery clauses and franchise fees | 82 | 94 | 176 |
| Acquisition of purchased power agreement | (243) | 0 | (521) |
| Recoverable storm-related costs | (108) | (223) | 0 |
| Other - net | (139) | 42 | (56) |
| Current assets | (190) | 25 | (90) |
| Noncurrent assets | (37) | (31) | (53) |
| Current liabilities | 701 | 16 | 40 |
| Noncurrent liabilities | (32) | (86) | (41) |
| Net cash provided by operating activities | 3,909 | 4,365 | 3,392 |
| Capital expenditures of FPL | (5,174) | (3,776) | (3,428) |
| Nuclear fuel purchases | (117) | (158) | (205) |
| Proceeds from sale or maturity of securities in special use funds and other investments | 1,986 | 2,495 | 3,731 |
| Purchases of securities in special use funds and other investments | (2,082) | (2,506) | (3,792) |
| Other - net | 18 | 28 | 55 |
| Net cash used in investing activities | (5,369) | (3,917) | (3,639) |
| Issuances of long-term debt | 1,961 | 309 | 1,084 |
| Retirements of long-term debt | (882) | (262) | (551) |
| Net change in commercial paper | 1,419 | 212 | (1,086) |
| Proceeds from other short-term debt | 450 | 500 | 100 |
| Repayments of other short-term debt | (2) | (450) | 0 |
| Capital contributions from NEE | 0 | 600 | 1,454 |
| Dividends on common stock | (1,450) | (1,300) | (700) |
| Other - net | (15) | (2) | (8) |
| Net cash provided by (used in) financing activities | 1,481 | (393) | 293 |
| Net increase in cash, cash equivalents and restricted cash | 21 | 55 | 46 |
| Cash, cash equivalents and restricted cash at beginning of year | 174 | 98 | 98 |
| Cash, cash equivalents and restricted cash at end of year | 174 | 98 | 98 |
| Cash paid for interest (net of amount capitalized) | 472 | 434 | 435 |
| Cash paid for income taxes - net | 2 | 147 | 439 |
| Accrued property additions | 668 | 664 | 474 |
| Increase in property, plant and equipment - net as a result of a settlement/noncash exchange | (112) | 0 | 0 |
| [1] FPL's comprehensive income is the same as reported net income | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NEXTERA ENERGY INC | ||
Ticker: NEE Fiscal Year: 2017 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| PROPERTY, PLANT AND EQUIPMENT | ||
| Electric plant in service and other property | $ 85,337 | 80,150 |
| Nuclear fuel | 1,767 | 2,131 |
| Construction work in progress | 6,679 | 4,732 |
| Accumulated depreciation and amortization | 21,367 | 20,101 |
| Total property, plant and equipment - net | 72,416 | 66,912 |
| ELECTRIC UTILITY PLANT AND OTHER PROPERTY | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | 1,714 | 1,292 |
| Customer receivables, net of allowances | 2,220 | 1,784 |
| Other receivables | 517 | 655 |
| Materials, supplies and fossil fuel inventory | 1,273 | 1,289 |
| Regulatory assets | 336 | 524 |
| Derivatives | 489 | 885 |
| Assets held for sale | 140 | 452 |
| Other | 468 | 528 |
| Total current assets | 7,157 | 7,409 |
| OTHER ASSETS | ||
| Special use funds | 6,003 | 5,434 |
| Other investments ($470 and $479 related to a VIE, respectively) | 2,959 | 2,482 |
| Prepaid benefit costs | 1,427 | 1,177 |
| Regulatory assets ($37 and $107 related to a VIE, respectively) | 2,469 | 1,894 |
| Derivatives | 1,315 | 1,350 |
| Other | 4,081 | 3,335 |
| Total other assets | 18,254 | 15,672 |
| TOTAL ASSETS | 97,827 | 89,993 |
| CAPITALIZATION | ||
| Common stock | 5 | 5 |
| Additional paid-in capital | 9,100 | 8,948 |
| Retained earnings | 18,992 | 15,458 |
| Accumulated other comprehensive income (loss) | 111 | (70) |
| Total common shareholders' equity | 28,208 | 24,341 |
| Noncontrolling interests | 1,290 | 990 |
| Total equity | 29,498 | 25,331 |
| Long-term debt | 31,463 | 27,818 |
| Total capitalization | 60,961 | 53,149 |
| CURRENT LIABILITIES | ||
| Commercial paper | 1,687 | 268 |
| Other short-term debt | 255 | 150 |
| Current maturities of long-term debt | 1,676 | 2,604 |
| Accounts payable | 3,235 | 3,447 |
| Customer deposits | 448 | 470 |
| Accrued interest and taxes | 622 | 480 |
| Derivatives | 364 | 404 |
| Accrued construction-related expenditures | 1,033 | 1,120 |
| Regulatory liabilities | 346 | 299 |
| Liabilities associated with assets held for sale | 18 | 451 |
| Other | 1,548 | 1,226 |
| Total current liabilities | 11,232 | 10,919 |
| OTHER LIABILITIES AND DEFERRED CREDITS | ||
| Asset retirement obligations | 3,031 | 2,736 |
| Deferred income taxes | 5,754 | 11,101 |
| Regulatory liabilities | 8,765 | 4,906 |
| Derivatives | 535 | 477 |
| Deferral related to differential membership interests - VIEs | 5,403 | 4,656 |
| Other | 2,146 | 2,049 |
| Total other liabilities and deferred credits | 25,634 | 25,925 |
| COMMITMENTS AND CONTINGENCIES | ||
| TOTAL CAPITALIZATION AND LIABILITIES | 97,827 | 89,993 |
| Legal Entity | ||
| FPL | ||
| Plant in service and other property | 47,167 | 44,966 |
| Nuclear fuel | 1,192 | 1,308 |
| Construction work in progress | 3,623 | 2,039 |
| Accumulated depreciation and amortization | (12,802) | (12,304) |
| Total electric utility plant and other property - net | 39,180 | 36,009 |
| Cash and cash equivalents | 33 | 33 |
| Customer receivables, net of allowances | 1,073 | 768 |
| Other receivables | 160 | 148 |
| Materials, supplies and fossil fuel inventory | 840 | 851 |
| Regulatory assets | 335 | 524 |
| Derivatives | 2 | 209 |
| Other | 241 | 213 |
| Total current assets | 2,684 | 2,746 |
| Special use funds | 4,090 | 3,665 |
| Prepaid benefit costs | 1,351 | 1,301 |
| Regulatory assets ($37 and $107 related to a VIE, respectively) | 2,249 | 1,573 |
| Other | 690 | 207 |
| Total other assets | 8,380 | 6,746 |
| TOTAL ASSETS | 50,244 | 45,501 |
| Common stock | 1,373 | 1,373 |
| Additional paid-in capital | 8,291 | 8,332 |
| Retained earnings | 7,376 | 6,875 |
| Total common shareholders' equity | 17,040 | 16,580 |
| Total equity | 17,040 | 16,580 |
| Long-term debt | 11,236 | 9,705 |
| Total capitalization | 28,276 | 26,285 |
| Commercial paper | 1,687 | 268 |
| Other short-term debt | 250 | 150 |
| Current maturities of long-term debt | 466 | 367 |
| Accounts payable | 893 | 837 |
| Customer deposits | 445 | 466 |
| Accrued interest and taxes | 439 | 240 |
| Accrued construction-related expenditures | 300 | 262 |
| Regulatory liabilities | 333 | 294 |
| Other | 984 | 497 |
| Total current liabilities | 5,797 | 3,381 |
| Asset retirement obligations | 2,047 | 1,919 |
| Deferred income taxes | 5,005 | 8,541 |
| Regulatory liabilities | 8,642 | 4,893 |
| Other | 477 | 482 |
| Total other liabilities and deferred credits | 16,171 | 15,835 |
| COMMITMENTS AND CONTINGENCIES | ||
| TOTAL CAPITALIZATION AND LIABILITIES | 50,244 | 45,501 |
| External Links | |
| NEXTERA ENERGY INC (NEE) Fiscal Year 2017 | |
| 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 |