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: 2018 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 15, 2019) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| OPERATING REVENUES | $ 16,727 | 17,173 | 16,138 |
| OPERATING EXPENSES (INCOME) | |||
| Fuel, purchased power and interchange | 3,732 | 4,071 | 3,992 |
| Other operations and maintenance | 3,330 | 3,458 | 3,529 |
| Storm restoration costs | 3 | 1,255 | 0 |
| Impairment charges | 11 | 446 | 7 |
| Merger-related | 32 | 69 | 135 |
| Depreciation and amortization | 3,911 | 2,357 | 3,120 |
| Losses (gains) on disposal of a business/assets - net | (80) | (1,111) | (447) |
| Taxes other than income taxes and other - net | 1,508 | 1,455 | 1,343 [1] |
| Total operating expenses - net | 12,447 | 12,000 | 11,679 |
| OPERATING INCOME | 4,280 | 5,173 | 4,459 |
| OTHER INCOME (DEDUCTIONS) | |||
| Interest expense | (1,498) | (1,558) | (1,098) |
| Benefits associated with differential membership interests - net | 0 | 460 | 309 |
| Equity in earnings of equity method investees | 358 | 141 | 148 |
| Allowance for equity funds used during construction | 96 | 92 | 86 |
| Interest income | 51 | 81 | 82 |
| Gain on NEP deconsolidation | 3,927 | 0 | 0 |
| Gains on disposal of investments and other property - net | 111 | 112 | 40 |
| Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds - net | (189) | 0 | 0 |
| Revaluation of contingent consideration | 0 | 0 | 189 |
| Other net periodic benefit income | 168 | 151 | 144 |
| Other - net | 48 | 11 | 19 |
| Total other income (deductions) - net | 3,072 | (510) | (81) |
| Income (loss) before income taxes | 7,352 | 4,663 | 4,378 |
| INCOME TAX EXPENSE (BENEFIT) | 1,576 | (660) | 1,379 |
| NET INCOME | 5,776 | 5,323 | 2,999 |
| NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | 862 | 57 | (93) |
| NET INCOME ATTRIBUTABLE TO NEE | 6,638 | 5,380 | 2,906 |
| Earnings per share attributable to NEE: | |||
| Basic | 14.03 | 11.48 | 6.27 |
| Assuming dilution | 13.88 | 11.39 | 6.24 |
| Weighted-average number of common shares outstanding: | |||
| Basic | 473,200 | 468,800 | 463,100 |
| Assuming dilution | 477,000 | 472,500 | 465,800 |
| Legal Entity | |||
| FPL | |||
| OPERATING REVENUES | 11,862 | 11,972 | 10,895 |
| Fuel, purchased power and interchange | 3,250 | 3,541 | 3,247 |
| Other operations and maintenance | 1,514 | 1,554 | 1,598 |
| Storm restoration costs | 3 | 1,255 | 0 |
| Depreciation and amortization | 2,633 | 940 | 1,700 |
| Taxes other than income taxes and other - net | 1,308 | 1,292 | 1,189 |
| Total operating expenses - net | 8,708 | 8,582 | 7,734 |
| OPERATING INCOME | 3,154 | 3,390 | 3,161 |
| Interest expense | (541) | (481) | (459) |
| Allowance for equity funds used during construction | 90 | 79 | 74 |
| Other - net | 7 | (2) | 2 |
| Total other income (deductions) - net | (444) | (404) | (383) |
| Income (loss) before income taxes | 2,710 | 2,986 | 2,778 |
| INCOME TAX EXPENSE (BENEFIT) | 539 | 1,106 | 1,051 |
| NET INCOME | 2,171 | 1,880 | 1,727 [2] |
| [2] FPL's comprehensive income is the same as reported net income. | Amounts have been retrospectively adjusted as discussed in Note 14. | |||
| [1] Amounts have been retrospectively adjusted as discussed in Note 14 and Note 3 - Amendments to Presentation of Retirement Benefits. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2018 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 15, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net income | $ 5,776 | 5,323 | 2,999 |
| Reclassification of unrealized losses on cash flow hedges from accumulated other comprehensive income (loss) to net income | 26 | 32 | 70 [1] |
| Net unrealized gains (losses) on securities still held | (12) | 127 | 69 |
| Reclassification from accumulated other comprehensive income (loss) to net income | 1 | (36) | (18) |
| Defined benefit pension and other benefits plans: | |||
| Net unrealized gain (loss) and unrecognized prior service benefit (cost) | (14) | 46 | (21) |
| Reclassification from accumulated other comprehensive income (loss) to net income | (3) | (2) | 0 |
| Net unrealized gains (losses) on foreign currency translation | (31) | 23 | (5) |
| Other comprehensive income related to equity method investee | 4 | 2 | 2 |
| Total other comprehensive income (loss), net of tax | (29) | 192 | 97 |
| AOCI Impact of NEP Deconsolidation | 58 | 0 | 0 |
| COMPREHENSIVE INCOME | 5,805 | 5,515 | 3,096 |
| COMPREHENSIVE (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | 862 | 46 | (93) |
| COMPREHENSIVE INCOME ATTRIBUTABLE TO NEE | 6,667 | 5,561 | 3,003 |
| [1] Amounts have been retrospectively adjusted as discussed in Note 14. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NEXTERA ENERGY INC | |||
Ticker: NEE Fiscal Year: 2018 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 15, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 5,776 | 5,323 | 2,999 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 3,911 | 2,357 | 3,120 |
| Nuclear fuel and other amortization | 236 | 281 | 308 |
| Impairment charges | 11 | 446 | 7 |
| Unrealized losses (gains) on marked to market derivative contracts - net | 54 | 436 | (44) |
| Foreign currency transaction losses (gains) | 16 | (25) | 13 |
| Deferred income taxes | 1,463 | (882) | 1,226 |
| Cost recovery clauses and franchise fees | (225) | 82 | 94 |
| Acquisition of purchased power agreement | (52) | (243) | 0 |
| Benefits associated with differential membership interests - net | 0 | (460) | (309) |
| Equity in earnings of equity method investees | (358) | (141) | (148) |
| Distributions of earnings from equity method investees | 328 | 160 | 102 |
| Gains on disposal of a business, assets and investments - net | (191) | (1,223) | (487) |
| Gain on NEP deconsolidation | (3,927) | 0 | 0 |
| Recoverable storm-related costs | 0 | (108) | (223) |
| Other - net | 156 | 109 | (32) |
| Changes in operating assets and liabilities: | |||
| Current assets | (631) | (333) | (146) |
| Noncurrent assets | (220) | (60) | (58) |
| Current liabilities | 163 | 758 | (32) |
| Noncurrent liabilities | 83 | (19) | (21) |
| Net cash provided by operating activities | 6,593 | 6,458 | 6,369 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Capital expenditures of FPL | (5,012) | (5,174) | (3,776) |
| Independent power and other investments of NEER | (6,994) | (5,295) | (5,396) |
| Cash grants under the American Recovery and Reinvestment Act of 2009 | 3 | 78 | 335 |
| Nuclear fuel purchases | (267) | (197) | (283) |
| Other capital expenditures and other investments | (731) | (74) | (181) |
| Proceeds from sale of the fiber-optic telecommunications business | 0 | 1,454 | 0 |
| Sale of independent power and other investments of NEER | 1,617 | 178 | 658 |
| Proceeds from sale or maturity of securities in special use funds and other investments | 3,410 | 3,207 | 3,776 |
| Purchases of securities in special use funds and other investments | (3,733) | (3,244) | (3,829) |
| Proceeds from sales of noncontrolling interests in NEP | 0 | 0 | 645 |
| Distributions from equity method investees | 637 | 7 | 0 |
| Other - net | 120 | 142 | 5 |
| Net cash used in investing activities | (10,950) | (8,918) | (8,046) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Issuances of long-term debt | 4,399 | 8,354 | 5,657 |
| Retirements of long-term debt | (3,102) | (6,780) | (3,310) |
| Proceeds from differential membership investors | 1,841 | 1,414 | 1,859 |
| Net change in commercial paper | 1,062 | 1,419 | (106) |
| Proceeds from other short-term debt | 5,665 | 450 | 500 |
| Repayments of other short-term debt | (455) | (2) | (662) |
| Payments from related parties under a cash sweep and credit support agreement net | (21) | 0 | 0 |
| Issuances of common stock - net | 718 | 55 | 537 |
| Proceeds from issuance of NEP convertible preferred units - net | 0 | 548 | 0 |
| Dividends on common stock | (2,101) | (1,845) | (1,612) |
| Other - net | (372) | (725) | (439) |
| Net cash provided by (used in) financing activities | 7,634 | 2,888 | 2,424 |
| Effects of currency translation on cash, cash equivalents and restricted cash | (7) | 26 [1] | 10 |
| Net increase in cash, cash equivalents and restricted cash | 3,270 | 454 | 757 |
| Cash, cash equivalents and restricted cash at beginning of year | 1,983 | 1,529 | |
| Cash, cash equivalents and restricted cash at end of year | 5,253 | 1,983 | 1,529 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
| Cash paid for interest (net of amount capitalized) | 1,209 | 1,186 | 1,194 |
| Cash paid for income taxes - net | 200 | 142 | 91 |
| SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES | |||
| Accrued property additions | 2,138 | 3,029 | 3,626 |
| Increase (decrease) in property, plant and equipment - net as a result of cash grants primarily under the American Recovery and Reinvestment Act of 2009 | 0 | (154) | 419 |
| Increase in property, plant and equipment - net as a result of a settlement/noncash exchange | (5) | (108) | (72) |
| Proceeds from differential membership investors used to reduce debt | 0 | 0 | 100 |
| Legal Entity | |||
| FPL | |||
| Net income | 2,171 | 1,880 | 1,727 [2] |
| Depreciation and amortization | 2,633 | 940 | 1,700 |
| Nuclear fuel and other amortization | 144 | 159 | 220 |
| Deferred income taxes | 180 | 905 | 932 [1] |
| Cost recovery clauses and franchise fees | (225) | 82 | 94 |
| Acquisition of purchased power agreement | (52) | (243) | 0 |
| Recoverable storm-related costs | 0 | (108) | (223) |
| Other - net | 7 | (139) | 42 |
| Current assets | 97 | (190) | 25 |
| Noncurrent assets | (64) | (37) | (31) |
| Current liabilities | (509) | 699 | 14 |
| Noncurrent liabilities | 40 | (32) | (86) |
| Net cash provided by operating activities | 4,422 | 3,916 | 4,414 |
| Capital expenditures of FPL | (5,012) | (5,174) | (3,776) |
| Nuclear fuel purchases | (123) | (117) | (158) |
| Proceeds from sale or maturity of securities in special use funds and other investments | 2,232 | 1,986 | 2,495 |
| Purchases of securities in special use funds and other investments | (2,402) | (2,082) | (2,506) |
| Other - net | 239 | 18 | 28 |
| Net cash used in investing activities | (5,066) | (5,369) | (3,917) |
| Issuances of long-term debt | 1,748 | 1,961 | 309 |
| Retirements of long-term debt | (1,591) | (882) | (262) |
| Net change in commercial paper | (431) | 1,419 | 212 |
| Proceeds from other short-term debt | 0 | 450 | 500 |
| Repayments of other short-term debt | (250) | (2) | (450) |
| Capital contributions from NEE | 0 | 600 | |
| Dividends on common stock | (500) | (1,450) | (1,300) |
| Other - net | (37) | (22) | (51) |
| Net cash provided by (used in) financing activities | 724 | 1,474 | (442) |
| Net increase in cash, cash equivalents and restricted cash | 80 | 21 | 55 |
| Cash, cash equivalents and restricted cash at beginning of year | 254 | 153 | 153 |
| Cash, cash equivalents and restricted cash at end of year | 254 | 153 | 153 |
| Cash paid for interest (net of amount capitalized) | 520 | 473 | 435 |
| Cash paid for income taxes - net | 415 | 2 | 147 |
| Accrued property additions | 549 | 668 | 664 |
| Increase in property, plant and equipment - net as a result of a settlement/noncash exchange | (5) | (112) | 0 |
| NEE's noncash contribution of a consolidated subsidiary - net | 526 | 0 | 0 |
| [1] Amounts have been retrospectively adjusted as discussed in Note 14. | |||
| [2] FPL's comprehensive income is the same as reported net income. | Amounts have been retrospectively adjusted as discussed in Note 14. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NEXTERA ENERGY INC | ||
Ticker: NEE Fiscal Year: 2018 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 15, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| PROPERTY, PLANT AND EQUIPMENT | ||
| Electric plant in service and other property | $ 81,986 | 85,119 |
| Nuclear fuel | 1,740 | 1,767 |
| Construction work in progress | 8,357 | 6,679 |
| Accumulated depreciation and amortization | (21,749) | (21,276) |
| Total property, plant and equipment - net | 70,334 | 72,289 |
| ELECTRIC UTILITY PLANT AND OTHER PROPERTY | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | 638 | 1,714 |
| Customer receivables, net of allowances | 2,302 | 2,220 |
| Other receivables | 667 | 517 |
| Materials, supplies and fossil fuel inventory | 1,223 | 1,273 |
| Regulatory assets | 448 | 336 [1] |
| Derivatives | 564 | 489 |
| Other | 551 | 632 |
| Total current assets | 6,393 | 7,181 |
| OTHER ASSETS | ||
| Special use funds | 5,886 | 6,003 |
| Investment in equity method investees | 6,748 | 2,321 |
| Prepaid benefit costs | 1,284 | 1,427 |
| Regulatory assets | 3,290 | 2,469 |
| Derivatives | 1,355 | 1,315 |
| Other | 8,412 | 4,958 |
| Total other assets | 26,975 | 18,493 |
| TOTAL ASSETS | 103,702 | 97,963 |
| CAPITALIZATION | ||
| Common stock | 5 | 5 |
| Additional paid-in capital | 10,490 | 9,100 |
| Retained earnings | 23,837 | 19,020 |
| Accumulated other comprehensive income (loss) | (188) | 111 |
| Total common shareholders' equity | 34,144 | 28,236 |
| Noncontrolling interests | 3,269 | 1,295 |
| Total equity | 37,413 [2] | 29,531 |
| Redeemable noncontrolling interests | 468 | 0 |
| Long-term debt | 26,782 | 31,410 |
| Total capitalization | 64,663 | 60,941 |
| CURRENT LIABILITIES | ||
| Commercial paper | 2,749 | 1,687 |
| Other short-term debt | 5,465 | 255 |
| Current portion of long-term debt | 2,716 | 1,673 |
| Accounts payable | 2,386 | 3,235 |
| Customer deposits | 445 | 448 |
| Accrued interest and taxes | 477 | 621 |
| Derivatives | 675 | 364 |
| Accrued construction-related expenditures | 1,195 | 1,033 |
| Regulatory liabilities | 325 | 346 |
| Other | 1,130 | 1,581 |
| Total current liabilities | 17,563 | 11,243 |
| OTHER LIABILITIES AND DEFERRED CREDITS | ||
| Asset retirement obligations | 3,135 | 3,031 |
| Deferred income taxes | 7,367 | 5,764 |
| Regulatory liabilities | 9,009 | 8,765 |
| Derivatives | 516 | 535 |
| Deferral related to differential membership interests - VIEs | 0 | 5,403 |
| Other | 1,449 | 2,281 |
| Total other liabilities and deferred credits | 21,476 | 25,779 |
| COMMITMENTS AND CONTINGENCIES | ||
| TOTAL CAPITALIZATION AND LIABILITIES | 103,702 | 97,963 |
| Legal Entity | ||
| FPL | ||
| Plant in service and other property | 49,640 | 47,100 |
| Nuclear fuel | 1,189 | 1,192 |
| Construction work in progress | 3,888 | 3,623 |
| Accumulated depreciation and amortization | (13,218) | (12,791) |
| Total electric utility plant and other property - net | 41,499 | 39,124 |
| Cash and cash equivalents | 112 | 33 |
| Customer receivables, net of allowances | 1,026 | 1,073 |
| Other receivables | 284 | 160 |
| Materials, supplies and fossil fuel inventory | 670 | 840 |
| Regulatory assets | 447 | 335 |
| Other | 239 | 243 |
| Total current assets | 2,778 | 2,684 |
| Special use funds | 4,056 | 4,090 |
| Prepaid benefit costs | 1,407 | 1,351 |
| Regulatory assets | 2,843 | 2,249 |
| Other | 901 | 756 |
| Total other assets | 9,207 | 8,446 |
| TOTAL ASSETS | 53,484 | 50,254 [1] |
| Common stock | 1,373 | 1,373 |
| Additional paid-in capital | 10,601 | 8,291 |
| Retained earnings | 9,040 | 7,376 |
| Total common shareholders' equity | 21,014 | 17,040 |
| Total equity | 21,014 | 17,040 |
| Long-term debt | 11,688 | 11,187 |
| Total capitalization | 32,702 | 28,227 |
| Commercial paper | 1,256 | 1,687 |
| Other short-term debt | 0 | 250 |
| Current portion of long-term debt | 95 | 464 |
| Accounts payable | 731 | 893 |
| Customer deposits | 442 | 445 |
| Accrued interest and taxes | 376 | 438 |
| Accrued construction-related expenditures | 323 | 300 |
| Regulatory liabilities | 310 | 333 |
| Other | 543 | 993 |
| Total current liabilities | 4,076 | 5,803 |
| Asset retirement obligations | 2,147 | 2,047 |
| Deferred income taxes | 5,165 | 5,005 |
| Regulatory liabilities | 8,886 | 8,642 |
| Other | 508 | 530 |
| Total other liabilities and deferred credits | 16,706 | 16,224 |
| COMMITMENTS AND CONTINGENCIES | ||
| TOTAL CAPITALIZATION AND LIABILITIES | 53,484 | 50,254 |
| [1] Amounts have been retrospectively adjusted as discussed in Note 14. | ||
| [2] Prior period amounts have been retrospectively adjusted as discussed in Note 14. | ||
| External Links | |
| NEXTERA ENERGY INC (NEE) Fiscal Year 2018 | |
| 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 |