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: 2014 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 20, 2015) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| OPERATING REVENUES | $ 17,021 | 15,136 | 14,256 |
| OPERATING EXPENSES | |||
| Fuel, purchased power and interchange | 5,602 | 4,958 | 5,121 |
| Other operations and maintenance | 3,149 | 3,194 | 3,155 |
| Impairment charges | 11 | 300 | 0 |
| Depreciation and amortization | 2,551 | 2,163 | 1,518 |
| Taxes other than income taxes and other | 1,324 | 1,280 | 1,186 |
| Total operating expenses | 12,637 | 11,895 | 10,980 |
| OPERATING INCOME | 4,384 | 3,241 | 3,276 |
| OTHER INCOME (DEDUCTIONS) | |||
| Interest expense | (1,261) | (1,121) | (1,038) |
| Benefits associated with differential membership interests - net | 199 | 165 | 81 |
| Equity in earnings of equity method investees | 93 | 25 | 13 |
| Allowance for equity funds used during construction | 37 | 63 | 67 |
| Interest income | 80 | 78 | 86 |
| Gains on disposal of assets - net | 105 | 54 | 157 |
| Gain (loss) associated with Maine fossil | 21 | (67) | 0 |
| Other than temporary impairment losses on securities held in nuclear decommissioning funds | (13) | (11) | (16) |
| Other - net | 0 | 27 | (23) |
| Total other deductions - net | (739) | (787) | (673) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 3,645 | 2,454 | 2,603 |
| INCOME TAXES | 1,176 | 777 | 692 |
| INCOME FROM CONTINUING OPERATIONS | 2,469 | 1,677 | 1,911 |
| GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES | 0 | 231 | 0 |
| NET INCOME | 2,469 | 1,908 | 1,911 |
| Net income attributable to noncontrolling interest | (4) | 0 | 0 |
| Net income attributable to parent | 2,465 | 1,908 | 1,911 |
| Earnings per share attributable to NEE - basic: | |||
| Basic EPS - Continuing operations | 5.67 | 3.95 [1] | 4.59 |
| Basic EPS - Discontinued operations | 0.00 | 0.55 | 0.00 |
| Total | 5.67 | 4.50 | 4.59 |
| Earnings per share attributable to NEE - assuming dilution: | |||
| Diluted EPS - Continuing operations | 5.60 | 3.93 | 4.56 |
| Basic EPS - Discontinued operations | 0.00 | 0.54 | 0.00 |
| Total | 5.60 | 4.47 | 4.56 |
| Weighted-average number of common shares outstanding: | |||
| Basic | 434,400 | 424,200 | 416,700 |
| Assuming dilution | 440,100 | 427,000 | 419,200 |
| Legal Entity | |||
| FPL | |||
| OPERATING REVENUES | 11,421 | 10,445 | 10,114 |
| Fuel, purchased power and interchange | 4,375 | 3,925 | 4,265 |
| Other operations and maintenance | 1,620 | 1,699 | 1,773 |
| Depreciation and amortization | 1,432 | 1,159 | 659 |
| Taxes other than income taxes and other | 1,166 | 1,123 | 1,060 |
| Total operating expenses | 8,593 | 7,906 | 7,757 |
| OPERATING INCOME | 2,828 | 2,539 | 2,357 |
| Interest expense | (439) | (415) | (417) |
| Allowance for equity funds used during construction | 36 | 55 | 52 |
| Other - net | 2 | 5 | 0 |
| Total other deductions - net | (401) | (355) | (365) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 2,427 | 2,184 | 1,992 |
| INCOME TAXES | 910 | 835 | 752 |
| Net income attributable to parent | 1,517 | 1,349 | 1,240 |
| [1] 2013 amounts were reclassified to conform to current year's presentation. See Note 4 - Nonrecurring Fair Value Measurements. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2014 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 20, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net income | $ 2,469 | 1,908 | 1,911 |
| Effective portion of net unrealized gains (losses) (net of $80 tax benefit, $45 tax expense and $55 tax benefit, respectively) | (141) | 84 | (106) |
| Reclassification from accumulated other comprehensive income to net income (net of $57, $38 and $25 tax expense, respectively) | 98 | 67 | 44 |
| Net unrealized gains on securities still held (net of $45, $84 and $48 tax expense, respectively) | 62 | 118 | 70 |
| Reclassification from accumulated other comprehensive income to net income (net of $26, $10 and $52 tax benefit, respectively) | (41) | (17) | (77) |
| Defined benefit pension and other benefits plans (net of $27 tax benefit, $61 tax expense and $19 tax benefit, respectively) | (43) | 97 | (28) |
| Net unrealized gains (losses) on foreign currency translation (net of $12 and $22 tax benefit and $3 tax expense, respectively) | (25) | (45) | 7 |
| Other comprehensive income (loss) related to equity method investee (net of $5 tax benefit, $5 tax expense and $7 tax benefit, respectively) | (8) | 7 | (11) |
| Total other comprehensive income (loss), net of tax | (98) | 311 | (101) |
| COMPREHENSIVE INCOME | 2,371 | 2,219 | 1,810 |
| LESS COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS | (2) | 0 | 0 |
| COMPREHENSIVE INCOME ATTRIBUTABLE TO NEE | 2,369 | 2,219 | 1,810 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2014 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 20, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 2,469 | 1,908 | 1,911 |
| NET INCOME | 2,465 | 1,908 | 1,911 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 2,551 | 2,163 | 1,518 |
| Nuclear fuel and other amortization | 345 | 358 | 259 |
| Impairment charges | 11 | 300 | 0 |
| Unrealized gains on marked to market energy contracts | (411) | (10) | (85) |
| Deferred income taxes | 1,205 | 853 | 682 |
| Cost recovery clauses and franchise fees | (67) | (166) | 129 |
| Benefits associated with differential membership interests - net | (199) | (165) | (81) |
| Gain from discontinued operations, net of income taxes | 0 | (231) | 0 |
| Loss (gain) associated with Maine fossil | (21) | 67 | 0 |
| Other - net | 155 | 77 | (151) |
| Changes in operating assets and liabilities: | |||
| Customer and other receivables | (7) | (268) | (286) |
| Materials, supplies and fossil fuel inventory | (135) | (81) | 1 |
| Other current assets | (30) | 8 | (46) |
| Other assets | (220) | 8 | 3 |
| Accounts payable and customer deposits | 110 | 122 | (56) |
| Margin cash collateral | (59) | 156 | 104 |
| Income taxes | (75) | (56) | (20) |
| Other current liabilities | (110) | 143 | 154 |
| Other liabilities | (12) | (84) | (44) |
| Net cash provided by operating activities | 5,500 | 5,102 | 3,992 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Capital expenditures of FPL | (3,067) | (2,691) | (4,070) |
| Independent power and other investments of NEER | (3,514) | (3,454) | (4,591) |
| Cash grants under the American Recovery and Reinvestment Act of 2009 | 343 | 165 | 196 |
| Nuclear fuel purchases | (287) | (371) | (305) |
| Other capital expenditures and other investments | (149) | (166) | (495) |
| Sale of independent power and other investments of NEER | 307 | 165 | 0 |
| Change in loan proceeds restricted for construction | (40) | 228 | 314 |
| Proceeds from sale or maturity of securities in special use funds and other investments | 4,621 | 4,405 | 5,301 |
| Purchases of securities in special use funds and other investments | (4,767) | (4,470) | (5,419) |
| Proceeds from the sale of a noncontrolling interest in subsidiaries | 438 | 0 | 0 |
| Other - net | (246) | 66 | 141 |
| Net cash used in investing activities | (6,361) | (6,123) | (8,928) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Issuances of long-term debt | 5,054 | 4,371 | 6,630 |
| Retirements of long-term debt | (4,750) | (2,396) | (1,612) |
| Proceeds from sale of differential membership interests | 978 | 448 | 808 |
| Payments to differential membership investors | (71) | (63) | (139) |
| Net change in short-term debt | 451 | (720) | 61 |
| Issuances of common stock - net | 633 | 842 | 405 |
| Repurchases of common stock | 0 | 0 | (19) |
| Dividends on common stock | (1,261) | (1,122) | (1,004) |
| Other - net | (34) | (230) | (242) |
| Net cash provided by (used in) financing activities | 1,000 | 1,130 | 4,888 |
| Net increase (decrease) in cash and cash equivalents | 139 | 109 | (48) |
| Cash and cash equivalents at beginning of year | 438 | 329 | |
| Cash and cash equivalents at end of year | 577 | 438 | 329 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
| Cash paid for interest (net of amount capitalized) | 1,181 | 1,070 | 1,001 |
| Cash paid (received) for income taxes - net | 46 | (20) | 25 |
| SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES | |||
| Accrued property additions | 956 | 1,098 | 970 |
| Sale of hydropower generation plants through assumption of debt by buyer | 0 | 700 | 0 |
| Changes in property, plant and equipment as a result of a settlement | 181 | 0 | 0 |
| Legal Entity | |||
| FPL | |||
| NET INCOME | 1,517 | 1,349 | 1,240 |
| Depreciation and amortization | 1,432 | 1,159 | 659 |
| Nuclear fuel and other amortization | 201 | 184 | 122 |
| Deferred income taxes | 601 | 617 | 988 |
| Cost recovery clauses and franchise fees | (67) | (166) | 129 |
| Other - net | 94 | 46 | (94) |
| Customer and other receivables | (10) | (5) | (96) |
| Materials, supplies and fossil fuel inventory | (106) | (16) | 33 |
| Other current assets | (9) | 15 | (20) |
| Other assets | (103) | (12) | (41) |
| Accounts payable and customer deposits | 28 | (1) | (33) |
| Income taxes | (34) | 384 | (111) |
| Other current liabilities | (64) | 11 | 68 |
| Other liabilities | (26) | (7) | (21) |
| Net cash provided by operating activities | 3,454 | 3,558 | 2,823 |
| Capital expenditures of FPL | (3,067) | (2,691) | (4,070) |
| Nuclear fuel purchases | (174) | (212) | (215) |
| Proceeds from sale or maturity of securities in special use funds and other investments | 3,349 | 3,342 | 3,790 |
| Purchases of securities in special use funds and other investments | (3,414) | (3,389) | (3,838) |
| Other - net | (268) | 30 | 68 |
| Net cash used in investing activities | (3,574) | (2,920) | (4,265) |
| Issuances of long-term debt | 997 | 497 | 1,296 |
| Retirements of long-term debt | (355) | (453) | (50) |
| Net change in short-term debt | 938 | 99 | (225) |
| Capital contributions from NEE | 100 | 275 | 440 |
| Dividends on common stock | (1,550) | (1,070) | 0 |
| Other - net | (15) | (7) | (15) |
| Net cash provided by (used in) financing activities | 115 | (659) | 1,446 |
| Net increase (decrease) in cash and cash equivalents | (5) | (21) | 4 |
| Cash and cash equivalents at beginning of year | 14 | 40 | 40 |
| Cash and cash equivalents at end of year | 14 | 40 | 40 |
| Cash paid for interest (net of amount capitalized) | 417 | 410 | 400 |
| Cash paid (received) for income taxes - net | 342 | (166) | (124) |
| Accrued property additions | 404 | 386 | 472 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NEXTERA ENERGY INC | ||
Ticker: NEE Fiscal Year: 2014 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 20, 2015) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| PROPERTY, PLANT AND EQUIPMENT | ||
| Electric plant in service and other property | $ 68,042 | 62,699 |
| Nuclear fuel | 2,006 | 2,059 |
| Construction work in progress | 3,591 | 4,690 |
| Less accumulated depreciation and amortization | (17,934) | (16,728) |
| Total property, plant and equipment - net | 55,705 | 52,720 |
| ELECTRIC UTILITY PLANT | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | 577 | 438 |
| Customer receivables, net of allowances | 1,805 | 1,777 |
| Other receivables | 354 | 512 |
| Materials, supplies and fossil fuel inventory | 1,292 | 1,153 |
| Regulatory assets: | ||
| Deferred clause and franchise expenses | 268 | 192 |
| Derivatives | 364 | 0 |
| Other | 116 | 116 |
| Derivatives | 990 | 498 |
| Deferred income taxes | 739 | 753 |
| Other | 439 | 403 |
| Total current assets | 6,944 | 5,842 |
| OTHER ASSETS | ||
| Special use funds | 5,166 | 4,780 |
| Other investments | 1,399 | 1,121 |
| Prepaid benefit costs | 1,244 | 1,456 |
| Regulatory assets: | ||
| Securitized storm-recovery costs | 294 | 372 |
| Other | 657 | 426 |
| Derivatives | 1,009 | 1,163 |
| Other | 2,511 | 1,426 |
| Total other assets | 12,280 | 10,744 |
| TOTAL ASSETS | 74,929 | 69,306 |
| CAPITALIZATION | ||
| Common stock | 4 | 4 |
| Additional paid-in capital | 7,179 | 6,411 |
| Retained earnings | 12,773 | 11,569 |
| Accumulated other comprehensive income (loss) | (40) | 56 |
| Total common shareholders' equity | 19,916 | 18,040 |
| Noncontrolling interests | 252 | 0 |
| Total equity | 20,168 | 18,040 |
| Long-term debt | 24,367 | 23,969 |
| Total capitalization | 44,535 | 42,009 |
| CURRENT LIABILITIES | ||
| Commercial paper | 1,142 | 691 |
| Current maturities of long-term debt | 3,515 | 3,766 |
| Accounts payable | 1,354 | 1,200 |
| Customer deposits | 462 | 452 |
| Accrued interest and taxes | 474 | 473 |
| Derivatives | 1,289 | 838 |
| Accrued construction-related expenditures | 676 | 839 |
| Other | 751 | 930 |
| Total current liabilities | 9,663 | 9,189 |
| OTHER LIABILITIES AND DEFERRED CREDITS | ||
| Asset retirement obligations | 1,986 | 1,850 |
| Deferred income taxes | 9,261 | 8,144 |
| Regulatory liabilities: | ||
| Accrued asset removal costs | 1,904 | 1,839 |
| Asset retirement obligation regulatory expense difference | 2,257 | 2,082 |
| Other | 476 | 462 |
| Derivatives | 466 | 473 |
| Deferral related to differential membership interests - VIEs | 2,704 | 2,001 |
| Other | 1,677 | 1,257 |
| Total other liabilities and deferred credits | 20,731 | 18,108 |
| COMMITMENTS AND CONTINGENCIES | ||
| TOTAL CAPITALIZATION AND LIABILITIES | 74,929 | 69,306 |
| Legal Entity | ||
| FPL | ||
| Plant in service and other property | 39,027 | 36,838 |
| Nuclear fuel | 1,217 | 1,240 |
| Construction work in progress | 1,694 | 1,818 |
| Less accumulated depreciation and amortization | (11,282) | (10,944) |
| Total electric utility plant - net | 30,656 | 28,952 |
| Cash and cash equivalents | 14 | 19 |
| Customer receivables, net of allowances | 773 | 757 |
| Other receivables | 136 | 137 |
| Materials, supplies and fossil fuel inventory | 848 | 742 |
| Deferred clause and franchise expenses | 268 | 192 |
| Derivatives | 364 | 0 |
| Other | 111 | 105 |
| Deferred income taxes | 0 | 98 [1] |
| Other | 120 | 261 |
| Total current assets | 2,634 | 2,213 |
| Special use funds | 3,524 | 3,273 |
| Prepaid benefit costs | 1,189 | 1,142 |
| Securitized storm-recovery costs | 294 | 372 |
| Other | 468 | 396 |
| Other | 542 | 140 |
| Total other assets | 6,017 | 5,323 |
| TOTAL ASSETS | 39,307 | 36,488 |
| Common stock | 1,373 | 1,373 |
| Additional paid-in capital | 6,279 | 6,179 |
| Retained earnings | 5,499 | 5,532 |
| Total common shareholders' equity | 13,151 | 13,084 |
| Long-term debt | 9,413 | 8,473 |
| Total capitalization | 22,564 | 21,557 |
| Commercial paper | 1,142 | 204 |
| Current maturities of long-term debt | 60 | 356 |
| Accounts payable | 647 | 611 |
| Customer deposits | 458 | 447 |
| Accrued interest and taxes | 245 | 272 |
| Derivatives | 370 | 1 |
| Accrued construction-related expenditures | 233 | 202 |
| Other | 331 | 437 |
| Total current liabilities | 3,486 | 2,530 |
| Asset retirement obligations | 1,355 | 1,285 |
| Deferred income taxes | 6,835 | 6,355 |
| Accrued asset removal costs | 1,898 | 1,839 |
| Asset retirement obligation regulatory expense difference | 2,257 | 2,082 |
| Other | 476 | 386 |
| Other | 436 | 454 |
| Total other liabilities and deferred credits | 13,257 | 12,401 |
| COMMITMENTS AND CONTINGENCIES | ||
| TOTAL CAPITALIZATION AND LIABILITIES | 39,307 | 36,488 |
| [1] Included in other current assets on FPL's consolidated balance sheets. | ||
| External Links | |
| NEXTERA ENERGY INC (NEE) Fiscal Year 2014 | |
| 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 |