v3.20.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Debt Issuances and Borrowings by Subsidiaries
Long-term debt consists of the following:
December 31,
20202019
Maturity
Date		BalanceWeighted-
Average
Interest Rate		BalanceWeighted-
Average
Interest Rate
(millions)(millions)
FPL:(a)
 
First mortgage bonds - fixed2023-2049$13,090 4.32 %$12,005 4.46 %
Pollution control, solid waste disposal and industrial development revenue bonds - primarily variable(b)
2021-2049948 0.12 %1,076 1.67 %
Senior unsecured notes - variable(c)(d)
2023-20701,806 0.44 %1,236 2.18 %
Unamortized debt issuance costs and discount(168)(156)
Total long-term debt of FPL15,676 14,161 
Less current portion of long-term debt54 30 
Long-term debt of FPL, excluding current portion15,622 14,131 
GULF POWER:(a)
Senior unsecured notes - fixed2022-2044815 4.05 %990 4.17 %
   Other long-term debt - primarily variable(b)
2021-2050759 0.70 %709 1.93 %
Unamortized debt issuance costs and discount(14)(14)
Total long-term debt of Gulf Power1,560 1,685 
Less current portion of long-term debt300 175 
Long-term debt of Gulf Power, excluding current portion1,260 1,510 
NEER: 
    NextEra Energy Resources:
   Senior secured limited-recourse long-term debt - primarily variable(d)(e)
2024-20493,325 2.33 %3,419 3.79 %
   Other long-term debt - primarily variable(d)(e)
2024-2040450 2.72 %440 
(f)
3.78 %
    NEET - long-term debt - primarily fixed(e)
2021-2049937 3.09 %837 3.50 %
 Unamortized debt issuance costs and premium(65)(74)
 Total long-term debt of NEER4,647 4,622 
 Less current portion of long-term debt239 215 
 Long-term debt of NEER, excluding current portion4,408 4,407 
NEECH: 
Debentures - fixed(e)
2021-203011,540 2.86 %9,550 3.05 %
Debentures - variable(d)
2021-20221,225 0.80 %1,375 3.00 %
Debentures, related to NEE's equity units - fixed2024-20256,000 1.46 %1,500 2.10 %
Junior subordinated debentures - primarily fixed(e)
2057-20793,693 4.78 %4,643 5.13 %
Japanese yen denominated long-term debt - primarily variable(d)(e)(g)
2023-2030650 1.49 %645 3.10 %
Australian dollar denominated long-term debt - fixed(g)
2026385 2.20 %351 2.59 %
Other long-term debt - fixed2021221 0.92 %524 2.00 %
Other long-term debt - variable(d)
2021600 0.70 %750 2.60 %
Unamortized debt issuance costs, premium and discount(115)(139)
Total long-term debt of NEECH24,199 19,199 
Less current portion of long-term debt3,545 1,704 
Long-term debt of NEECH, excluding current portion20,654 17,495 
Total long-term debt$41,944 $37,543 
______________________
(a)See Note 6 - Merger of FPL and Gulf Power regarding FPL's assumption of all of Gulf Power's outstanding debt on January 1, 2021.
(b)Includes variable rate tax exempt bonds that permit individual bondholders to tender the bonds for purchase at any time prior to maturity. In the event these variable rate tax exempt bonds are tendered for purchase, they would be remarketed by a designated remarketing agent in accordance with the related indenture. If the remarketing is unsuccessful, FPL or Gulf Power, as the case may be, would be required to purchase the variable rate tax exempt bonds. At December 31, 2020, variable rate tax exempt bonds totaled approximately $948 million at FPL and $426 million at Gulf Power. All variable rate tax exempt bonds tendered for purchase have been successfully remarketed. FPL's and Gulf Power's syndicated revolving credit facilities, as the case may be, are available to support the purchase of the variable rate tax exempt bonds. Variable interest rate is established at various intervals by the remarketing agent. Gulf Power's remaining debt is primarily variable which is based on an underlying index plus a margin.
(c)Includes approximately $556 million of floating rate notes that permit individual noteholders to require repayment prior to maturity. FPL’s syndicated revolving credit facilities are available to support the purchase of the senior unsecured notes.
(d)Variable rate is based on an underlying index plus a specified margin.
(e)Interest rate contracts, primarily swaps, have been entered into with respect to certain of these debt issuances. See Note 3.
(f)Excludes approximately $463 million classified as held for sale, which is included in current other liabilities on NEE's consolidated balance sheets. See Note 1 - Disposal of Businesses/Assets.
(g)Foreign currency contracts have been entered into with respect to these debt issuances. See Note 3.