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: 2013 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 24, 2014) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| OPERATING REVENUES | $ 15,136 | 14,256 | 15,341 |
| OPERATING EXPENSES | |||
| Fuel, purchased power and interchange | 4,958 | 5,121 | 6,256 |
| Other operations and maintenance | 3,194 | 3,155 | 3,002 |
| Impairment charges | 300 | 0 | 51 |
| Depreciation and amortization | 2,163 | 1,518 | 1,567 |
| Taxes other than income taxes and other | 1,280 | 1,186 | 1,204 |
| Total operating expenses | 11,895 | 10,980 | 12,080 |
| OPERATING INCOME | 3,241 | 3,276 | 3,261 |
| OTHER INCOME (DEDUCTIONS) | |||
| Interest expense | (1,121) | (1,038) | (1,035) |
| Benefits associated with differential membership interests - net | 165 | 81 | 118 |
| Loss on sale of natural gas-fired generating assets | 0 | 0 | (151) |
| Equity in earnings of equity method investees | 25 | 13 | 55 |
| Allowance for equity funds used during construction | 63 | 67 | 39 |
| Interest income | 78 | 86 | 79 |
| Gains on disposal of assets - net | 54 | 157 | 85 |
| Other than temporary impairment losses on securities held in nuclear decommissioning funds | (11) | (16) | (36) |
| Other - net | 27 | (23) | 37 |
| Total other deductions - net | (720) | (673) | (809) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 2,521 | 2,603 | 2,452 |
| INCOME TAXES | 801 | 692 | 529 |
| Income (loss) from continuing operations | 1,720 | 1,911 | 1,923 |
| NET GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | 188 | 0 | 0 |
| NET INCOME | 1,908 | 1,911 | 1,923 |
| Basic earnings per share of common stock: | |||
| Continuing operations | 4.06 | 4.59 | 4.62 |
| Discontinued operations | 0.44 | 0.00 | 0.00 |
| Net income | 4.50 | 4.59 | 4.62 |
| Earnings per share of common stock - assuming dilution: | |||
| Continuing operations | 4.03 | 4.56 | 4.59 |
| Discontinued operations | 0.44 | 0.00 | 0.00 |
| Net income | 4.47 | 4.56 | 4.59 |
| Weighted-average number of common shares outstanding: | |||
| Basic | 424,200 | 416,700 | 416,600 |
| Assuming dilution | 427,000 | 419,200 | 419,000 |
| Legal Entity | |||
| FPL | |||
| OPERATING REVENUES | 10,445 | 10,114 | 10,613 |
| Fuel, purchased power and interchange | 3,925 | 4,265 | 4,977 |
| Other operations and maintenance | 1,699 | 1,773 | 1,699 |
| Depreciation and amortization | 1,159 | 659 | 798 |
| Taxes other than income taxes and other | 1,123 | 1,060 | 1,063 |
| Total operating expenses | 7,906 | 7,757 | 8,537 |
| OPERATING INCOME | 2,539 | 2,357 | 2,076 |
| Interest expense | (415) | (417) | (387) |
| Allowance for equity funds used during construction | 55 | 52 | 35 |
| Other - net | 5 | 0 | (2) |
| Total other deductions - net | (355) | (365) | (354) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 2,184 | 1,992 | 1,722 |
| INCOME TAXES | 835 | 752 | 654 |
| NET GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | 0 | 0 | 0 |
| NET INCOME | 1,349 | 1,240 | 1,068 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2013 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 24, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| NET INCOME | $ 1,908 | 1,911 | 1,923 |
| Effective portion of net unrealized gains (losses) (net of $45 tax expense, $55 tax benefit and $135 tax benefit, respectively) | 84 | (106) | (265) |
| Reclassification from accumulated other comprehensive income to net income (net of $38, $25 and $18 tax expense, respectively) | 67 | 44 | 37 |
| Net unrealized gains on securities still held (net of $84, $48 and $13 tax expense, respectively) | 118 | 70 | 19 |
| Reclassification from accumulated other comprehensive income to net income (net of $10, $52 and $34 tax benefit, respectively) | (17) | (77) | (49) |
| Defined benefit pension and other benefits plans (net of $61 tax expense, $19 tax benefit and $32 tax benefit, respectively) | 97 | (28) | (45) |
| Net unrealized gains (losses) on foreign currency translation (net of $22 tax benefit, $3 tax expense and $3 tax benefit, respectively) | (45) | 7 | (5) |
| Other comprehensive income (loss) related to equity method investee (net of $5 tax expense, $7 tax benefit and $8 tax benefit, respectively) | 7 | (11) | (12) |
| Total other comprehensive income (loss), net of tax | 311 | (101) | (320) |
| COMPREHENSIVE INCOME | 2,219 | 1,810 | 1,603 |
| Statement, Equity Components | |||
| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | |||
| Total other comprehensive income (loss), net of tax | 151 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2013 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 24, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| NET INCOME | $ 1,908 | 1,911 | 1,923 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 2,163 | 1,518 | 1,567 |
| Nuclear fuel and other amortization | 358 | 259 | 282 |
| Loss on sale of natural gas-fired generating assets | 0 | 0 | 151 |
| Impairment charges | 300 | 0 | 51 |
| Unrealized gains on marked to market energy contracts | (10) | (85) | (271) |
| Deferred income taxes | 877 | 682 | 553 |
| Cost recovery clauses and franchise fees | (166) | 129 | 181 |
| Benefits associated with differential membership interests - net | (165) | (81) | (118) |
| Equity in earnings of equity method investees | (25) | (13) | (55) |
| Distributions of earnings from equity method investees | 33 | 32 | 95 |
| Allowance for equity funds used during construction | (63) | (67) | (39) |
| Gains on disposal of assets - net | (54) | (157) | (85) |
| Other than temporary impairment losses on securities held in nuclear decommissioning funds | (11) | (16) | (36) |
| Net gain from discontinued operations, net of income taxes | (188) | 0 | 0 |
| Other - net | 175 | 38 | 305 |
| Changes in operating assets and liabilities: | |||
| Customer and other receivables | (268) | (286) | 149 |
| Materials, supplies and fossil fuel inventory | (81) | 1 | (308) |
| Other current assets | 8 | (46) | (22) |
| Other assets | 8 | 3 | (103) |
| Accounts payable and customer deposits | 122 | (56) | (184) |
| Margin cash collateral | 156 | 104 | 81 |
| Income taxes | (56) | (20) | 62 |
| Interest and other taxes | 3 | 15 | 12 |
| Other current liabilities | 140 | 139 | 3 |
| Other liabilities | (84) | (44) | (192) |
| Net cash provided by operating activities | 5,102 | 3,992 | 4,074 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Capital expenditures of FPL | (2,691) | (4,070) | (3,137) |
| Independent power and other investments of NEER | (3,454) | (4,591) | (2,601) |
| Cash grants under the American Recovery and Reinvestment Act of 2009 | 165 | 196 | 624 |
| Nuclear fuel purchases | (371) | (305) | (538) |
| Other capital expenditures and other investments | (166) | (495) | (352) |
| Sale of independent power investments | 165 | 0 | 1,204 |
| Change in loan proceeds restricted for construction | 228 | 314 | (565) |
| Proceeds from sale or maturity of securities in special use funds and other investments | 4,405 | 5,301 | 4,836 |
| Purchases of securities in special use funds and other investments | (4,470) | (5,419) | (4,955) |
| Other - net | 66 | 141 | 205 |
| Net cash used in investing activities | (6,123) | (8,928) | (5,279) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Issuances of long-term debt | 4,371 | 6,630 | 3,940 |
| Retirements of long-term debt | (2,396) | (1,612) | (2,121) |
| Proceeds from sale of differential membership interests | 448 | 808 | 466 |
| Payments to differential membership investors | (63) | (139) | (100) |
| Net change in short-term debt | (720) | 61 | 460 |
| Issuances of common stock - net | 842 | 405 | 48 |
| Repurchases of common stock | 0 | (19) | (375) |
| Dividends on common stock | (1,122) | (1,004) | (920) |
| Other - net | (230) | (242) | (118) |
| Net cash provided by (used in) financing activities | 1,130 | 4,888 | 1,280 |
| Net increase (decrease) in cash and cash equivalents | 109 | (48) | 75 |
| Cash and cash equivalents at beginning of year | 329 | 377 | |
| Cash and cash equivalents at end of year | 438 | 329 | 377 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
| Cash paid for interest (net of amount capitalized) | 1,070 | 1,001 | 978 |
| Cash paid (received) for income taxes - net | (20) | 25 | (95) |
| SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES | |||
| Accrued property additions | 1,098 | 970 | 909 |
| Sale of generating assets through assumption of debt by buyer | 700 | 0 | 158 |
| Legal Entity | |||
| FPL | |||
| NET INCOME | 1,349 | 1,240 | 1,068 |
| Depreciation and amortization | 1,159 | 659 | 798 |
| Nuclear fuel and other amortization | 184 | 122 | 160 |
| Deferred income taxes | 617 | 988 | 675 |
| Cost recovery clauses and franchise fees | (166) | 129 | 181 |
| Allowance for equity funds used during construction | (55) | (52) | (35) |
| Net gain from discontinued operations, net of income taxes | 0 | 0 | 0 |
| Other - net | 101 | (42) | 60 |
| Customer and other receivables | (5) | (96) | 65 |
| Materials, supplies and fossil fuel inventory | (16) | 33 | (254) |
| Other current assets | 15 | (20) | (20) |
| Other assets | (12) | (41) | (52) |
| Accounts payable and customer deposits | (1) | (33) | (137) |
| Income taxes | 384 | (111) | (215) |
| Interest and other taxes | 8 | 1 | (21) |
| Other current liabilities | 3 | 67 | 32 |
| Other liabilities | (7) | (21) | (60) |
| Net cash provided by operating activities | 3,558 | 2,823 | 2,245 |
| Capital expenditures of FPL | (2,691) | (4,070) | (3,137) |
| Cash grants under the American Recovery and Reinvestment Act of 2009 | 0 | 0 | 218 |
| Nuclear fuel purchases | (212) | (215) | (365) |
| Proceeds from sale or maturity of securities in special use funds and other investments | 3,342 | 3,790 | 2,988 |
| Purchases of securities in special use funds and other investments | (3,389) | (3,838) | (3,052) |
| Other - net | 30 | 68 | 89 |
| Net cash used in investing activities | (2,920) | (4,265) | (3,259) |
| Issuances of long-term debt | 497 | 1,296 | 840 |
| Retirements of long-term debt | (453) | (50) | (45) |
| Net change in short-term debt | 99 | (225) | 229 |
| Capital contributions from NEE | 275 | 440 | 410 |
| Dividends on common stock | (1,070) | 0 | (400) |
| Other - net | (7) | (15) | (4) |
| Net cash provided by (used in) financing activities | (659) | 1,446 | 1,030 |
| Net increase (decrease) in cash and cash equivalents | (21) | 4 | 16 |
| Cash and cash equivalents at beginning of year | 19 | 36 | 36 |
| Cash and cash equivalents at end of year | 19 | 36 | 36 |
| Cash paid for interest (net of amount capitalized) | 410 | 400 | 389 |
| Cash paid (received) for income taxes - net | (166) | (124) | 194 |
| Accrued property additions | 386 | 472 | 526 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NEXTERA ENERGY INC | ||
Ticker: NEE Fiscal Year: 2013 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 24, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| PROPERTY, PLANT AND EQUIPMENT | ||
| Electric plant in service and other property | $ 62,699 | 57,054 |
| Nuclear fuel | 2,059 | 1,895 |
| Construction work in progress | 4,690 | 5,968 |
| Less accumulated depreciation and amortization | (16,728) | (15,504) |
| Total property, plant and equipment - net | 52,720 | 49,413 |
| ELECTRIC UTILITY PLANT | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | 438 | 329 |
| Customer receivables, net of allowances | 1,777 | 1,487 |
| Other receivables | 512 | 569 |
| Materials, supplies and fossil fuel inventory | 1,153 | 1,073 |
| Regulatory assets: | ||
| Deferred clause and franchise expenses | 192 | 75 |
| Other | 116 | 113 |
| Derivatives | 498 | 517 |
| Deferred income taxes | 753 | 397 [1] |
| Assets held for sale | 0 | 335 |
| Other | 403 | 342 |
| Total current assets | 5,842 | 5,237 |
| OTHER ASSETS | ||
| Special use funds | 4,780 | 4,190 |
| Other investments | 1,121 | 976 |
| Prepaid benefit costs | 1,456 | 1,031 |
| Regulatory assets: | ||
| Securitized storm-recovery costs | 372 | 461 |
| Other | 426 | 582 |
| Derivatives | 1,163 | 920 |
| Other | 1,426 | 1,629 |
| Total other assets | 10,744 | 9,789 |
| TOTAL ASSETS | 69,306 | 64,439 |
| CAPITALIZATION | ||
| Common stock | 4 | 4 |
| Additional paid-in capital | 6,411 | 5,536 |
| Retained earnings | 11,569 | 10,783 |
| Accumulated other comprehensive income (loss) | 56 | (255) |
| Total common shareholders' equity | 18,040 | 16,068 |
| Long-term debt | 23,969 | 23,177 |
| Total capitalization | 42,009 | 39,245 |
| CURRENT LIABILITIES | ||
| Commercial paper | 691 | 1,211 |
| Short-term debt | 0 | 200 |
| Current maturities of long-term debt | 3,766 | 2,771 |
| Accounts payable | 1,200 | 1,281 |
| Customer deposits | 452 | 508 |
| Accrued interest and taxes | 473 | 414 |
| Derivatives | 838 | 430 |
| Accrued construction-related expenditures | 839 | 427 |
| Liabilities associated with assets held for sale | 0 | 733 |
| Other | 930 | 904 |
| Total current liabilities | 9,189 | 8,879 |
| OTHER LIABILITIES AND DEFERRED CREDITS | ||
| Asset retirement obligations | 1,850 | 1,715 |
| Deferred income taxes | 8,144 | 6,703 |
| Regulatory liabilities: | ||
| Accrued asset removal costs | 1,839 | 1,950 |
| Asset retirement obligation regulatory expense difference | 2,082 | 1,813 |
| Other | 462 | 309 |
| Derivatives | 473 | 587 |
| Deferral related to differential membership interests - VIEs | 2,001 | 1,784 |
| Other | 1,257 | 1,454 |
| Total other liabilities and deferred credits | 18,108 | 16,315 |
| COMMITMENTS AND CONTINGENCIES | ||
| TOTAL CAPITALIZATION AND LIABILITIES | 69,306 | 64,439 |
| Legal Entity | ||
| FPL | ||
| Plant in service and other property | 36,838 | 34,474 |
| Nuclear fuel | 1,240 | 1,190 |
| Construction work in progress | 1,818 | 2,585 |
| Less accumulated depreciation and amortization | (10,944) | (10,698) |
| Total electric utility plant - net | 28,952 | 27,551 |
| Cash and cash equivalents | 19 | 40 |
| Customer receivables, net of allowances | 757 | 760 |
| Other receivables | 137 | 447 |
| Materials, supplies and fossil fuel inventory | 742 | 727 |
| Deferred clause and franchise expenses | 192 | 75 |
| Other | 105 | 106 |
| Deferred income taxes | 98 [2] | 0 |
| Other | 261 | 131 |
| Total current assets | 2,213 | 2,286 |
| Special use funds | 3,273 | 2,918 |
| Prepaid benefit costs | 1,142 | 1,135 |
| Securitized storm-recovery costs | 372 | 461 |
| Other | 396 | 351 |
| Other | 140 | 151 |
| Total other assets | 5,323 | 5,016 |
| TOTAL ASSETS | 36,488 | 34,853 |
| Common stock | 1,373 | 1,373 |
| Additional paid-in capital | 6,179 | 5,903 |
| Retained earnings | 5,532 | 5,254 |
| Total common shareholders' equity | 13,084 | 12,530 |
| Long-term debt | 8,473 | 8,329 |
| Total capitalization | 21,557 | 20,859 |
| Commercial paper | 204 | 105 |
| Current maturities of long-term debt | 356 | 453 |
| Accounts payable | 611 | 612 |
| Customer deposits | 447 | 503 |
| Accrued interest and taxes | 272 | 223 |
| Accrued construction-related expenditures | 202 | 235 |
| Other | 438 | 495 |
| Total current liabilities | 2,530 | 2,626 |
| Asset retirement obligations | 1,285 | 1,206 |
| Deferred income taxes | 6,355 | 5,584 |
| Accrued asset removal costs | 1,839 | 1,950 |
| Asset retirement obligation regulatory expense difference | 2,082 | 1,813 |
| Other | 386 | 309 |
| Other | 454 | 506 |
| Total other liabilities and deferred credits | 12,401 | 11,368 |
| COMMITMENTS AND CONTINGENCIES | ||
| TOTAL CAPITALIZATION AND LIABILITIES | 36,488 | 34,853 |
| [1] NEE reclassified approximately $430 million of federal operating loss carryforwards from current deferred income taxes to noncurrent deferred income taxes in the first quarter of 2013 as a result of increased tax depreciation deductions available under the American Taxpayer Relief Act of 2012, which was enacted in January 2013. | ||
| [2] Included in other current assets on FPL's consolidated balance sheets. | ||
| External Links | |
| NEXTERA ENERGY INC (NEE) Fiscal Year 2013 | |
| 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 |