NEXTERA ENERGY INC

NEE 10-K · Q4 2025

NEE Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Regulated And Unregulated Operating Revenue 6,500 5,385 +20.7%
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FPL · FPL 4,273 3,856 +10.8%
NEER Segment · Operating Segments 2,117 1,448 +46.2%
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FPL 4,273 3,856 +10.8%
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Corporate And Eliminations 110 81 +35.8%
Operating Segments 6,390 5,304 +20.5%
Fuel Purchased Power And Interchange Expense 1,173 1,092 +7.4%
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FPL · FPL 872 866 +0.7%
NEER Segment · Operating Segments 300 226 +32.7%
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FPL 872 866 +0.7%
Utilities Operating Expense Maintenance And Operations 1,596 1,316 +21.3%
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FPL · FPL 517 438 +18.0%
NEER Segment · Operating Segments 871 721 +20.8%
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FPL 517 438 +18.0%
Depreciation And Amortization Excluding Nuclear Fuel 1,616 1,513 +6.8%
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FPL · FPL 905 856 +5.7%
NEER Segment · Operating Segments 695 642 +8.3%
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FPL 905 856 +5.7%
Taxes Excluding Income And Excise Taxes 592 557 +6.3%
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FPL · FPL 472 449 +5.1%
NEER Segment · Operating Segments 122 109 +11.9%
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FPL 473 449 +5.3%
Operating Expenses 4,977 4,478 +11.1%
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FPL 2,767 2,609 +6.1%
Disposal Group Not Discontinued Operation Gain Loss On Disposal 63 34 +85.3%
Operating Income 1,586 941 +68.5%
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FPL 1,507 1,248 +20.8%
Interest Expense Aggregate Expenses -585 725 -180.7%
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FPL · FPL -320 -304 -5.3%
NEER Segment · Operating Segments -316 -47 -572.3%
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FPL -320 -304 -5.3%
Income Loss From Equity Method Investments 82 -845 +109.7%
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NEER Segment · Operating Segments 82 -845 +109.7%
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Corporate And Eliminations 0 0
Operating Segments 82 -845 +109.7%
Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity 51 51 0.0%
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FPL 49 50 -2.0%
Gain Loss On Investments 10 31 -67.7%
Amount Recognized In Net Periodic Benefit Cost And Other Comprehensive Income Loss Before Tax 66 64 +3.1%
Other Non-Operating Income (Expense) 66 118 -44.1%
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FPL 10 8 +25.0%
Non-Operating Income (Expense) -268 103 -360.2%
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FPL -261 -246 -6.1%
Income Before Taxes 1,318 1,044 +26.2%
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FPL 1,246 1,002 +24.4%
Income Tax Expense (Benefit) 225 171 +31.6%
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FPL · FPL 288 157 +83.4%
NEER Segment · Operating Segments -67 -258 +74.0%
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FPL 288 157 +83.4%
Net Income 1,093 873 +25.2%
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Noncontrolling Interest -442 -331 -33.5%
Parent 1,535 1,203 +27.6%
Retained Earnings 1,535 1,203 +27.6%
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FPL 958 845 +13.4%
Net Income Loss Attributable To Nonredeemable Noncontrolling Interest -442 -330 -33.9%
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NEER Segment · Operating Segments -442 -330 -33.9%
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Operating Segments -442 -330 -33.9%
Net Income 1,535 1,203 +27.6%
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FPL · FPL 958 845 +13.4%
NEER Segment · Operating Segments 545 -442 +223.3%
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Corporate And Eliminations 32 800 -96.0%
Operating Segments 1,503 403 +273.0%
EPS (Basic) 0.74 0.58 +27.6%
EPS (Diluted) 0.73 0.58 +25.9%
Comprehensive Income 1,598 1,209 +32.2%
Wtd Avg Shares (Basic) 5.5 0.4 +1275.0%
Wtd Avg Shares (Diluted) 6.3 0.9 +600.0%
Interest Expense (Q)
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Foreign Exchange Contract · Nondesignated -1 -1 0.0%
Interest Rate Contract · Nondesignated 0 1 -100.0%
Revenue From Contract With Customer Including Assessed Tax 6.1 5.3 +15.1%
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FPL 4.2 3.7 +13.5%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents 2,812 1,487 +89.1%
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FPL 42 32 +31.2%
Accounts Receivable 4,018 3,336 +20.4%
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FPL 1,667 1,400 +19.1%
Other Receivables Net Current 1,733 1,180 +46.9%
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FPL 413 380 +8.7%
Inventory 2,420 2,214 +9.3%
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FPL 1,373 1,309 +4.9%
Regulatory Assets Current 433 1,417 -69.4%
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FPL 401 1,405 -71.5%
Derivative Assets Current 997 879 +13.4%
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FPL 39 31 +25.8%
Other Assets Current 1,171 1,438 -18.6%
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FPL 255 257 -0.8%
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Carrying Reported Amount Fair Value Disclosure 340 396 -14.1%
Total Current Assets 13,584 11,951 +13.7%
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FPL 4,151 4,783 -13.2%
Non-Current Assets
Property, Plant & Equipment 156,197 138,852 +12.5%
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NEER Segment · Operating Segments 74,287 62,526 +18.8%
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Variable Interest Entity Primary Beneficiary 28,988 25,632 +13.1%
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Corporate And Eliminations 155 160 -3.1%
Operating Segments 156,042 138,692 +12.5%
Defined Benefit Plan Assets For Plan Benefits Noncurrent 2,868 2,496 +14.9%
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FPL 2,072 1,954 +6.0%
Regulatory Assets Noncurrent 5,639 4,828 +16.8%
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FPL 5,405 4,464 +21.1%
Derivative Assets Noncurrent 1,998 1,774 +12.6%
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FPL 1 9 -88.9%
Goodwill 4,849 4,866 -0.3%
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Clean Energy Assets [Member] 420 424 -0.9%
Corporate And Other 11 11 0.0%
Customer Supply [Member] 299 299 0.0%
Rate-Regulated Assets [Member] 1,154 1,167 -1.1%
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FPL 2,965 2,965 0.0%
Other Non-Current Assets 11,104 9,459 +17.4%
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FPL 1,126 934 +20.6%
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Estimate Of Fair Value Fair Value Disclosure 195 233 -16.3%
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Cash Sweep And Credit Support Agreement · Subsidiaries 183 128 +43.0%
Assets Noncurrent 199,137 178,193 +11.8%
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FPL 101,007 93,358 +8.2%
Total Assets 212,721 190,144 +11.9%
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FPL · Operating Segments 105,158 98,141 +7.1%
NEER Segment · Operating Segments 103,528 89,398 +15.8%
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FPL 105,158 98,141 +7.1%
Indirect Subsidiary of NextEra Energy Resources [Member] · Photovoltaic Solar Facility [Member] 506 1,708 -70.4%
NEER · Variable Interest Entities Wind and Solar Primary Beneficiary [Member] [Member] 28,768 23,902 +20.4%
NextEra Energy Resources Consolidated VIE [Member] · 10% direct ownership in wind and solar facilities 1,301 1,346 -3.3%
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Corporate And Eliminations 4,035 2,605 +54.9%
Operating Segments 208,686 187,539 +11.3%
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Equity Method Investment Nonconsolidated Investee Other 29,235 30,144 -3.0%
Operating Lease Right-of-Use Assets 442 372 +18.8%
Intangible Assets 1,630 1,578 +3.3%
Other Assets
Public Utilities Property Plant And Equipment Net (Q)
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FPL · Operating Segments 81,755 76,166 +7.3%
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FPL 81,755 76,166 +7.3%
Decommissioning Fund Investments 10,954 9,800 +11.8%
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FPL 7,684 6,875 +11.8%
Equity Method Investments 5,528 6,118 -9.6%
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NEER Segment · Operating Segments 5,509 6,118 -10.0%
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NEER 2,123 2,838 -25.2%
Subsidiaries of NEE [Member] · Other Investments 2,525 3,315 -23.8%
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Corporate And Eliminations 19
Operating Segments 5,509 6,118 -10.0%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Mountain Valley Pipeline [Member] 1.1 1 +10.0%
XPLR 1 1.8 -44.4%
Current Liabilities
Commercial Paper 1,955 1,670 +17.1%
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FPL 1,130 1,430 -21.0%
Other Short Term Borrowings 608 217 +180.2%
Current Portion of Long-Term Debt 3,500 8,061 -56.6%
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Capital Holdings [Member] 1,934 5,642 -65.7%
FPL 641 1,719 -62.7%
NEER 925 700 +32.1%
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Variable Interest Entity Primary Beneficiary 9 25 -64.0%
Accounts Payable Current And Noncurrent 7,583 6,982 +8.6%
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FPL 1,084 996 +8.8%
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Variable Interest Entity Primary Beneficiary 502 631 -20.4%
Deferred Revenue (Current) 709 694 +2.2%
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FPL 685 669 +2.4%
Accrued Interest And Taxes 1,185 1,016 +16.6%
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FPL 470 443 +6.1%
Derivative Liabilities Current 1,113 1,073 +3.7%
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FPL 15 3 +400.0%
Construction Payable Current 2,966 2,346 +26.4%
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FPL 1,153 860 +34.1%
Regulatory Liability Current 356 279 +27.6%
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FPL 344 273 +26.0%
Other Liabilities Current 2,842 3,017 -5.8%
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FPL 687 1,105 -37.8%
Total Current Liabilities 22,817 25,355 -10.0%
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FPL 6,194 7,495 -17.4%
Non-Current Liabilities
Long-Term Debt 89,556 72,385 +23.7%
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Capital Holdings [Member] 43,992 32,970 +33.4%
FPL 28,041 25,026 +12.0%
NEER 17,523 14,389 +21.8%
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Variable Interest Entity Primary Beneficiary 190 436 -56.4%
Asset Retirement Obligations Noncurrent 3,669 3,671 -0.1%
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FPL 2,158 2,276 -5.2%
Deferred Tax Liabilities 12,359 11,749 +5.2%
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FPL 10,156 9,438 +7.6%
Regulatory Liability Noncurrent 11,474 10,635 +7.9%
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FPL 11,280 10,465 +7.8%
Derivative Liabilities Noncurrent 2,148 2,008 +7.0%
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FPL 1 4 -75.0%
Other Non-Current Liabilities 4,219 3,480 +21.2%
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FPL 343 365 -6.0%
Liabilities Noncurrent 123,425 103,928 +18.8%
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FPL 51,978 47,570 +9.3%
Total Liabilities 146,242 129,283 +13.1%
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FPL 58,172 55,065 +5.6%
Indirect Subsidiary of NextEra Energy Resources [Member] · Photovoltaic Solar Facility [Member] 148 520 -71.5%
NEER · Variable Interest Entities Wind and Solar Primary Beneficiary [Member] [Member] 1,485 1,546 -3.9%
NextEra Energy Resources Consolidated VIE [Member] · 10% direct ownership in wind and solar facilities 71 76 -6.6%
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Equity Method Investment Nonconsolidated Investee Other 8,726 7,501 +16.3%
Long-Term Debt (Q)
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Capital Holdings [Member] 45,926 38,612 +18.9%
FPL 28,682 26,745 +7.2%
NEER 18,448 15,089 +22.3%
Stockholders' Equity
Common Stock 21 21 0.0%
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FPL 1,373 1,373 0.0%
Additional Paid In Capital Common Stock 19,494 17,260 +12.9%
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FPL 26,866 26,868 -0.0%
Retained Earnings 35,102 32,946 +6.5%
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FPL 18,747 14,835 +26.4%
Accumulated Other Comprehensive Income -9 -126 +92.9%
Total Stockholders' Equity 54,608 50,101 +9.0%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 66,479 60,460 +10.0%
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Accumulated Defined Benefit Plans Adjustment 33 -19 +273.7%
Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest 19 23 -17.4%
Accumulated Other Comprehensive Income -9 -126 +92.9%
Accumulated Translation Adjustment -72 -101 +28.7%
Additional Paid In Capital 19,494 17,260 +12.9%
Additional Paid In Capital · FPL 26,866 26,868 -0.0%
Aoci Including Portion Attributable To Noncontrolling Interest -9 -126 +92.9%
Common Stock 21 21 0.0%
Common Stock · FPL 1,373 1,373 0.0%
Noncontrolling Interest 11,871 10,359 +14.6%
Other Comprehensive Income Related to Equity Method Investees 11 8 +37.5%
Parent 54,608 50,101 +9.0%
Retained Earnings 35,102 32,946 +6.5%
Retained Earnings · FPL 18,747 14,835 +26.4%
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FPL 46,986 43,076 +9.1%
Total Liabilities & Equity 212,721 190,144 +11.9%
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FPL 105,158 98,141 +7.1%
Minority Interest 11,871 10,359 +14.6%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Depreciation And Amortization 1,616 1,513 +6.8%
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FPL 905 856 +5.7%
Nuclear Fuel And Other Amortization 99 69 +43.5%
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FPL 46 35 +31.4%
Unrealized Gain Loss On Derivatives And Commodity Contracts -600 -1,006 +40.4%
Foreign Currency Transaction Gain Loss Before Tax 83 -84 +198.8%
Deferred Income Taxes 913 758 +20.4%
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FPL 516 368 +40.2%
Cost Recovery Clauses And Franchise Fees -72 70 -202.9%
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FPL -72 70 -202.9%
Equity Method Investment Dividends Or Distributions 93 170 -45.3%
Gain Loss On Disposition Of Assets1 -73 -65 -12.3%
Increase Decrease In Recoverable Property Damage Costs -42 -537 +92.2%
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FPL -42 -537 +92.2%
Other Operating Activities Cash Flow Statement 51 171 -70.2%
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FPL -25 -9 -177.8%
Increase Decrease In Other Current Assets -245 -236 -3.8%
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FPL 366 413 -11.4%
Increase Decrease In Other Noncurrent Assets -94 -336 +72.0%
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FPL -36 -58 +37.9%
Increase Decrease In Other Current Liabilities -319 -237 -34.6%
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FPL -909 -791 -14.9%
Change in Other Liabilities 185 120 +54.2%
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FPL -8 -26 +69.2%
Net Cash from Operations 2,499 1,981 +26.1%
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FPL 1,698 1,165 +45.8%
Investing Activities
Capital Expenditures Of F P L -1,983 -1,771 -12.0%
Independent Power Investments -3,056 -2,779 -10.0%
Payments For Proceeds From Nuclear Fuel -242 -65 -272.3%
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FPL -93 -34 -173.5%
Proceedsfrom Saleof Independent Power Investments 116 451 -74.3%
Proceeds From Decommissioning Fund 1,204 2,127 -43.4%
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FPL 683 1,357 -49.7%
Payments To Invest In Decommissioning Fund -1,323 -1,853 +28.6%
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FPL -709 -1,403 +49.5%
Other Investing Activities 69 16 +331.2%
Net Cash from Investing -5,212 -3,880 -34.3%
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FPL -2,118 -1,848 -14.6%
Right Of Use Asset Obtained In Exchange For Finance Lease Liability 82 51 +60.8%
Financing Activities
Proceeds From Issuance Of Long Term Debt 8,148 8,594 -5.2%
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FPL 1,789 0
Repayments Of Long Term Debt -2,801 -1,172 -139.0%
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FPL -601 -1 -60000.0%
Sale Of Differential Membership Interests 2,211 1,780 +24.2%
Payments To Differential Membership Investors -682 -1,460 +53.3%
Proceeds From Repayments Of Commercial Paper -2,307 -2,300 -0.3%
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FPL 221 580 -61.9%
Proceeds From Other Short Term Debt 608 217 +180.2%
Repayments Of Other Short Term Debt -1,100 -5,140 +78.6%
Proceeds From Repayments Of Related Party Debt -3 89 -103.4%
Proceeds From Issuance Of Common Stock 10 1 +900.0%
Payments Of Dividends 1,181 1,059 +11.5%
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Retained Earnings · FPL 1,200 7,400 -83.8%
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FPL 1,000 0
Proceeds From Payments For Other Financing Activities -232 -249 +6.8%
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FPL -24 -3 -700.0%
Net Cash from Financing 3,003 741 +305.3%
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FPL 385 576 -33.2%
Supplemental
Interest Paid 878 813 +8.0%
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FPL 391 412 -5.1%
Income Taxes Paid Received Net -478 -145 -229.7%
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FPL -106 -17 -523.5%
Unpaid Capital Expenditures 2,867 2,451 +17.0%
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FPL 343 495 -30.7%
Other Cash Flow
Net Change in Cash 292 -1,172 +124.9%
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FPL -35 -107 +67.3%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 3,006 1,402 +114.4%
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FPL 88 133 -33.8%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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