v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 5,332 $ 5,698 $ 6,282
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6,580 5,462 5,879
Nuclear fuel and other amortization 361 299 272
Unrealized losses (gains) on marked to market derivative contracts – net 199 (492) (1,949)
Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds – net (107) (107) (159)
Foreign currency transaction losses (gains) 110 (85) 92
Deferred income taxes 453 1,308 708
Cost recovery clauses and franchise fees (89) 1,016 1,104
Equity in losses of equity method investees 184 246 648
Distributions of earnings from equity method investees 446 811 712
Gains on disposal of businesses, assets and investments – net (439) (515) (530)
Recoverable storm-related costs (460) (676) (399)
Other – net 288 135 34
Changes in operating assets and liabilities:      
Current assets (920) (382) 58
Noncurrent assets (440) (473) (408)
Current liabilities 487 767 (1,109)
Noncurrent liabilities 500 248 66
Net cash provided by operating activities 12,485 13,260 11,301
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures of FPL (8,719) (7,992) (9,302)
Independent power and other investments of NEER (15,332) (16,215) (15,565)
Nuclear fuel purchases (553) (399) (185)
Other capital expenditures (2) (123) (61)
Proceeds from the sale of Florida City Gas business 0 0 924
Sale of independent power and other investments of NEER 1,115 2,659 1,883
Proceeds from sale or maturity of securities in special use funds and other investments 5,401 5,445 4,875
Purchases of securities in special use funds and other investments (5,893) (5,623) (5,926)
Other – net 118 (16) (110)
Net cash used in investing activities (23,865) (22,264) (23,467)
CASH FLOWS FROM FINANCING ACTIVITIES      
Issuances of long-term debt, including premiums and discounts 23,394 24,769 13,857
Retirements of long-term debt (10,347) (10,113) (7,978)
Proceeds from differential membership investors 3,276 2,257 2,745
Payments to differential membership investors (516) (740) (75)
Net change in commercial paper 285 (2,980) 2,941
Proceeds from other short-term debt 2,558 6,575 1,980
Repayments of other short-term debt (2,167) (6,613) (2,613)
Cash swept from (repayments to) related parties – net (131) (1,371) 1,213
Issuances of common stock/equity units 2,038 48 4,514
Dividends on common stock (4,680) (4,235) (3,782)
Other – net (731) (597) (653)
Net cash provided by (used in) financing activities 12,979 7,000 12,149
Effects of currency translation on cash, cash equivalents and restricted cash 5 (14) (4)
Net increase (decrease) in cash, cash equivalents and restricted cash 1,604 (2,018) (21)
Cash, cash equivalents and restricted cash at beginning of year 1,402 3,420 3,441
Cash, cash equivalents and restricted cash at end of year 3,006 1,402 3,420
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid for interest (net of amount capitalized) 3,501 2,737 2,463
Cash paid (received) for income taxes – net (1,275) (760) 321
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES      
Accrued property additions 7,645 6,835 7,104
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability 344 533 124
FPL      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) [1] 5,012 4,543 4,552
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 3,778 2,827 3,789
Nuclear fuel and other amortization 164 172 158
Deferred income taxes 617 602 (161)
Cost recovery clauses and franchise fees (89) 1,016 1,104
Gains on disposal of businesses, assets and investments – net (1) (1) (407)
Recoverable storm-related costs (460) (676) (399)
Other – net (7) (14) (27)
Changes in operating assets and liabilities:      
Current assets (319) 262 (200)
Noncurrent assets (199) (167) (185)
Current liabilities 59 (23) 60
Noncurrent liabilities (22) (35) 12
Net cash provided by operating activities 8,533 8,506 8,296
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (8,719) (7,992) (9,302)
Nuclear fuel purchases (216) (222) (98)
Proceeds from the sale of Florida City Gas business 0 0 924
Proceeds from sale or maturity of securities in special use funds and other investments 3,142 3,628 3,730
Purchases of securities in special use funds and other investments (3,295) (3,801) (3,754)
Other – net 7 3 (15)
Net cash used in investing activities (9,081) (8,384) (8,515)
CASH FLOWS FROM FINANCING ACTIVITIES      
Issuances of long-term debt, including premiums and discounts 3,785 3,205 5,678
Retirements of long-term debt (1,821) (1,721) (1,548)
Net change in commercial paper (300) (944) 665
Proceeds from other short-term debt 0 0 55
Repayments of other short-term debt 0 (255) 0
Capital contributions from NEE 0 3,400 0
Dividends on common stock (1,100) (3,700) (4,545)
Other – net (61) (46) (72)
Net cash provided by (used in) financing activities 503 (61) 233
Net increase (decrease) in cash, cash equivalents and restricted cash (45) 61 14
Cash, cash equivalents and restricted cash at beginning of year 133 72 58
Cash, cash equivalents and restricted cash at end of year 88 133 72
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid for interest (net of amount capitalized) 1,225 1,143 1,034
Cash paid (received) for income taxes – net 37 640 981
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES      
Accrued property additions $ 1,532 $ 1,169 $ 958
[1] FPL's comprehensive income is the same as reported net income.