| Segment Information |
Segment Information The table below presents information for NEE's reportable segments, FPL, a rate-regulated utility business, and NEER, which is comprised of competitive energy and rate-regulated transmission businesses, as well as for Gulf Power, a rate-regulated utility business acquired by NEE in January 2019. Corporate and Other represents other business activities and includes eliminating entries. See Note 2 for information regarding NEE's and FPL's operating revenues.
NEE's segment information is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2020 | | FPL | | Gulf Power(a) | | NEER(b) | | Corp. and
Other | | NEE
Consolidated | | (millions) | | Operating revenues | $ | 11,662 | | | $ | 1,398 | | | $ | 5,046 | | | $ | (109) | | | $ | 17,997 | | | Operating expenses - net | $ | 7,862 | | | $ | 1,081 | | | $ | 4,125 | | | $ | 166 | | | $ | 13,234 | | | Gains (losses) on disposal of businesses/assets - net | $ | — | | | $ | — | | | $ | 363 | | | $ | (10) | | | $ | 353 | | | Interest expense | $ | 600 | | | $ | 41 | | | $ | 659 | | | $ | 650 | | | $ | 1,950 | | | Interest income | $ | 2 | | | $ | 2 | | | $ | 28 | | | $ | 6 | | | $ | 38 | | Depreciation and amortization | $ | 2,246 | | | $ | 281 | | | $ | 1,460 | | | $ | 65 | | | $ | 4,052 | | | Equity in losses of equity method investees | $ | — | | | $ | — | | | $ | (1,351) | | | $ | — | | | $ | (1,351) | | Income tax expense (benefit)(c) | $ | 610 | | | $ | 67 | | | $ | (416) | | | $ | (217) | | | $ | 44 | | Net income (loss) | $ | 2,650 | | | $ | 238 | | | $ | (19) | | | $ | (500) | | | $ | 2,369 | | Net income (loss) attributable to NEE | $ | 2,650 | | | $ | 238 | | | $ | 531 | | | $ | (500) | | | $ | 2,919 | | Capital expenditures, independent power and other investments and nuclear fuel purchases | $ | 6,680 | | | $ | 1,012 | | | $ | 6,893 | | | $ | 25 | | | $ | 14,610 | | | Property, plant and equipment - net | $ | 48,933 | | | $ | 4,946 | | | $ | 37,842 | | | $ | 82 | | | $ | 91,803 | | | Total assets | $ | 61,610 | | | $ | 6,725 | | | $ | 55,633 | | | $ | 3,716 | | | $ | 127,684 | | Investment in equity method investees | $ | — | | | $ | — | | | $ | 5,713 | | | $ | 15 | | | $ | 5,728 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2019 | | FPL | | Gulf Power(a) | | NEER(b) | | Corp. and
Other | | NEE
Consolidated | | (millions) | | Operating revenues | $ | 12,192 | | | $ | 1,487 | | | $ | 5,639 | | | $ | (114) | | | $ | 19,204 | | Operating expenses - net(d) | $ | 8,895 | | | $ | 1,216 | | | $ | 4,037 | | | $ | 109 | | | $ | 14,257 | | Gains (losses) on disposal of businesses/assets - net(d) | $ | 5 | | | $ | — | | | $ | 402 | | | $ | (1) | | | $ | 406 | | | Interest expense | $ | 594 | | | $ | 55 | | | $ | 873 | | | $ | 727 | | | $ | 2,249 | | | Interest income | $ | 5 | | | $ | 3 | | | $ | 38 | | | $ | 8 | | | $ | 54 | | Depreciation and amortization | $ | 2,524 | | | $ | 247 | | | $ | 1,387 | | | $ | 58 | | | $ | 4,216 | | | Equity in earnings (losses) of equity method investees | $ | — | | | $ | — | | | $ | 67 | | | $ | (1) | | | $ | 66 | | Income tax expense (benefit)(c) | $ | 441 | | | $ | 42 | | | $ | 162 | | | $ | (197) | | | $ | 448 | | Net income (loss) | $ | 2,334 | | | $ | 180 | | | $ | 1,426 | | | $ | (552) | | | $ | 3,388 | | Net income (loss) attributable to NEE | $ | 2,334 | | | $ | 180 | | | $ | 1,807 | | | $ | (552) | | | $ | 3,769 | | Capital expenditures, independent power and other investments and nuclear fuel purchases | $ | 5,755 | | | $ | 729 | | | $ | 6,505 | | | $ | 4,473 | | | $ | 17,462 | | | Property, plant and equipment - net | $ | 45,074 | | | $ | 4,763 | | | $ | 32,042 | | | $ | 131 | | | $ | 82,010 | | | Total assets | $ | 57,188 | | | $ | 5,855 | | | $ | 51,516 | | | $ | 3,132 | | | $ | 117,691 | | Investment in equity method investees | $ | — | | | $ | — | | | $ | 7,453 | | | $ | — | | | $ | 7,453 | |
_________________________ (a)See Note 6 - Gulf Power Company and - Merger of FPL and Gulf Power. (b)Interest expense allocated from NEECH is based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual NEECH corporate interest expense is included in Corporate and Other. (c)NEER includes PTCs that were recognized based on its tax sharing agreement with NEE. See Note 1 - Income Taxes. (d)FPL's income statement line for total operating expenses - net includes gains (losses) on disposal of businesses/assets - net. | | | | | | | | | | | | | | | | | | | | | | | | | 2018 | | FPL | | NEER(a)(b) | | Corp. and
Other | | NEE
Consolidated | | (millions) | | Operating revenues | $ | 11,862 | | | $ | 4,984 | | | $ | (119) | | | $ | 16,727 | | Operating expenses - net(c) | $ | 8,714 | | | $ | 3,698 | | | $ | 115 | | | $ | 12,527 | | Gains (losses) on disposal of businesses/assets - net(c) | $ | 6 | | | $ | 82 | | | $ | (8) | | | $ | 80 | | | Interest expense | $ | 541 | | | $ | 595 | | | $ | 362 | | | $ | 1,498 | | | Interest income | $ | 4 | | | $ | 40 | | | $ | 7 | | | $ | 51 | | Depreciation and amortization | $ | 2,633 | | | $ | 1,230 | | | $ | 48 | | | $ | 3,911 | | Equity in earnings of equity method investees | $ | — | | | $ | 321 | | | $ | 37 | | | $ | 358 | | Income tax expense (benefit)(d) | $ | 539 | | | $ | 1,196 | | | $ | (159) | | | $ | 1,576 | | | Net income (loss) | $ | 2,171 | | | $ | 3,842 | | | $ | (237) | | | $ | 5,776 | | | Net income (loss) attributable to NEE | $ | 2,171 | | | $ | 4,704 | | | $ | (237) | | | $ | 6,638 | | Capital expenditures, independent power and other investments and nuclear fuel purchases | $ | 5,135 | | | $ | 7,189 | | | $ | 680 | | | $ | 13,004 | | | Property, plant and equipment - net | $ | 41,499 | | | $ | 28,602 | | | $ | 233 | | | $ | 70,334 | | | Total assets | $ | 53,484 | | | $ | 44,509 | | | $ | 5,709 | | | $ | 103,702 | | Investment in equity method investees | $ | — | | | $ | 6,521 | | | $ | 227 | | | $ | 6,748 | |
_________________________ (a)Interest expense allocated from NEECH is based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual NEECH corporate interest expense is included in Corporate and Other. (b)NEP was deconsolidated from NEER in January 2018. See Note 1 - Basis of Presentation. (c)FPL's income statement line for total operating expenses - net includes gains (losses) on disposal of businesses/assets - net. (d)NEER includes PTCs that were recognized based on its tax sharing agreement with NEE. See Note 1 - Income Taxes.
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