Summary of Significant Accounting and Reporting Policies (Tables)

12 Months Ended

Dec. 31, 2020

NEE's and FPL's regulatory assets and liabilities are as follows:


	NEE				FPL
	December 31,				December 31,
	2020		2019		2020		2019
	(millions)
Regulatory assets:
Current:



Early retirement of generation facilities	$	36	$	31	$	32	$	27
Acquisition of purchased power agreements	161		165		161		165


Other	180		139		42		35
Total	$	377	$	335	$	235	$	227
Noncurrent:
Early retirement of generation facilities	$	1,438	$	1,004	$	932	$	956
Acquisition of purchased power agreements	473		634		473		634

Other	1,801		1,649		991		959
Total	$	3,712	$	3,287	$	2,396	$	2,549
Regulatory liabilities:
Current:

Deferred clause revenues	$	215	$	309	$	197	$	284
Other	30		11		9		—
Total	$	245	$	320	$	206	$	284
Noncurrent:

Asset retirement obligation regulatory expense difference	$	3,583	$	2,826	$	3,583	$	2,828
Accrued asset removal costs	1,206		1,346		1,015		1,157
Deferred taxes	4,698		4,862		4,237		4,397
Other	1,248		902		1,217		914
Total	$	10,735	$	9,936	$	10,052	$	9,296

NEE's and FPL's regulatory assets and liabilities are as follows:


	NEE				FPL
	December 31,				December 31,
	2020		2019		2020		2019
	(millions)
Regulatory assets:
Current:



Early retirement of generation facilities	$	36	$	31	$	32	$	27
Acquisition of purchased power agreements	161		165		161		165


Other	180		139		42		35
Total	$	377	$	335	$	235	$	227
Noncurrent:
Early retirement of generation facilities	$	1,438	$	1,004	$	932	$	956
Acquisition of purchased power agreements	473		634		473		634

Other	1,801		1,649		991		959
Total	$	3,712	$	3,287	$	2,396	$	2,549
Regulatory liabilities:
Current:

Deferred clause revenues	$	215	$	309	$	197	$	284
Other	30		11		9		—
Total	$	245	$	320	$	206	$	284
Noncurrent:

Asset retirement obligation regulatory expense difference	$	3,583	$	2,826	$	3,583	$	2,828
Accrued asset removal costs	1,206		1,346		1,015		1,157
Deferred taxes	4,698		4,862		4,237		4,397
Other	1,248		902		1,217		914
Total	$	10,735	$	9,936	$	10,052	$	9,296

NEE's goodwill and other intangible assets are as follows:


	Weighted- Average Useful Lives	December 31,
		2020		2019
	(years)	(millions)
Goodwill (by reporting unit):
FPL segment:
Florida City Gas		$	292	$	291
Other		9		9
NEER segment:
Rate-regulated transmission (see Note 6 - Trans Bay Cable, LLC)		614		610
Gas infrastructure		487		487
Customer supply and trading		93		93
Generation assets		60		28
Corporate and Other:
Gulf Power (see Note 6 - Gulf Power Company)		2,688		2,686
Other		11		—
Total goodwill		$	4,254	$	4,204
Other intangible assets not subject to amortization, primarily land easements		$	135	$	135
Other intangible assets subject to amortization:

Purchased power agreements	14	$	453	$	401

Other, primarily transportation contracts and customer lists	17	166		72
Total		619		473
Accumulated amortization		(61)		(56)
Total other intangible assets subject to amortization - net		$	558	$	417