v3.26.1
Non-Derivative Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Financial assets and liabilities and other fair value measurements NEE's and FPL's financial assets and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:
 March 31, 2026
 Level 1Level 2 Level 3Total
 (millions)
Assets:     
Cash equivalents and restricted cash equivalents:(a)
     
NEE – equity securities
$921 $— $— $921 
FPL – equity securities
$39 $— $— $39 
Special use funds:(b)
 
NEE: 
Equity securities$2,951 $3,676 
(c)
$229 $6,856 
U.S. Government and municipal bonds$709 $64 $— $773 
Corporate debt securities$6 $670 $— $676 
Asset-backed securities$— $874 $— $874 
Other debt securities$— $19 $— $19 
FPL:     
Equity securities$1,196 $3,348 
(c)
$204 $4,748 
U.S. Government and municipal bonds$585 $39 $— $624 
Corporate debt securities$6 $484 $— $490 
Asset-backed securities$— $668 $— $668 
Other debt securities$— $13 $— $13 
Other investments:(d)
     
NEE:     
Equity securities$48 $— $68 $116 
U.S. Government and municipal bonds$15 $— $— $15 
Corporate debt securities$— $1,345 $5 $1,350 
Other debt securities$— $257 $45 $302 
FPL:
Equity securities$8 $— $— $8 

———————————————
(a)Includes restricted cash equivalents of approximately $39 million ($38 million for FPL) in current other assets on the condensed consolidated balance sheets.
(b)Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at Other than Fair Value below.
(c)Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.
(d)Included in noncurrent other assets on NEE's and FPL's condensed consolidated balance sheets.
 December 31, 2025
 Level 1Level 2 Level 3Total
 (millions)
Assets:     
Cash equivalents and restricted cash equivalents:(a)
     
NEE – equity securities
$1,873 $— $— $1,873 
FPL – equity securities
$40 $— $— $40 
Special use funds:(b)
 
NEE: 
Equity securities$2,948 $3,828 
(c)
$231 $7,007 
U.S. Government and municipal bonds$721 $65 $— $786 
Corporate debt securities$10 $722 $— $732 
Asset-backed securities$— $918 $— $918 
Other debt securities$— $17 $— $17 
FPL: 
Equity securities$1,148 $3,486 
(c)
$206 $4,840 
U.S. Government and municipal bonds$588 $40 $— $628 
Corporate debt securities$11 $539 $— $550 
Asset-backed securities$— $697 $— $697 
Other debt securities$— $10 $— $10 
Other investments:(d)
     
NEE:     
Equity securities$49 $— $82 $131 
U.S. Government and municipal bonds$33 $1 $— $34 
Corporate debt securities$— $1,299 $120 $1,419 
Other debt securities$— $264 $28 $292 
FPL:
Equity securities$7 $— $— $7 
———————————————
(a)Includes restricted cash equivalents of approximately $39 million ($37 million for FPL) in current other assets on the condensed consolidated balance sheets.
(b)Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at Other than Fair Value below.
(c)Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.
(d)Included in noncurrent other assets on NEE's and FPL's condensed consolidated balance sheets.
Fair Value, by Balance Sheet Grouping The carrying amounts of commercial paper and other short-term debt approximate their fair values. The carrying amounts and estimated fair values of other financial instruments recorded at other than fair value are as follows:
 March 31, 2026 December 31, 2025 
 Carrying
Amount		 Estimated
Fair Value		 Carrying
Amount		 Estimated
Fair Value		 
 (millions) 
NEE:  
Special use funds(a)
$1,509 $1,509 $1,494 $1,495 
Other receivables, net of allowances(b)
$515 $515 $535 $535 
Long-term debt, including current portion$97,785 $93,722 
(c)
$93,056 

$91,614 
(c)
FPL:     
Special use funds(a)
$945 $946 $959 $960 
Long-term debt, including current portion$28,545 $26,769 
(c)
$28,682 $27,354 
(c)
———————————————
(a)Primarily represents investments accounted for under the equity method and loans not measured at fair value on a recurring basis (Level 2).
(b)Approximately $327 million and $340 million is included in current other assets and $188 million and $195 million is included in noncurrent other assets on NEE's condensed consolidated balance sheets as of March 31, 2026 and December 31, 2025, respectively (primarily Level 3).
(c)As of March 31, 2026 and December 31, 2025, substantially all is Level 2 for NEE and FPL.
Unrealized Gains (Losses) Recognized On Equity Securities Still Held at The Reporting Date
Unrealized losses recognized on equity securities held as of March 31, 2026 and 2025 are as follows:
 NEEFPL
 Three Months Ended March 31,Three Months Ended March 31,
 2026202520262025
 (millions)
Unrealized losses
$(255)$(248)$(199)$(175)
Gains and Losses on Available-for-sale Debt Securities
Realized gains and losses and proceeds from the sale or maturity of available for sale debt securities are as follows:
 NEEFPL
 Three Months Ended March 31,Three Months Ended March 31,
 2026202520262025
 (millions)
Realized gains$21 $14 $18 $13 
Realized losses$15 $18 $11 $13 
Proceeds from sale or maturity of securities$1,055 $768 $647 $535 

The unrealized gains and unrealized losses on available for sale debt securities and the fair value of available for sale debt securities in an unrealized loss position are as follows:
 NEEFPL
 March 31, 2026December 31, 2025March 31, 2026December 31, 2025
 (millions)
Unrealized gains$28 $62 $14 $34 
Unrealized losses(a)
$99 $68 $61 $37 
Fair value$2,072 $1,344 $1,073 $709 
———————————————
(a)    Unrealized losses on available for sale debt securities in an unrealized loss position for greater than twelve months as of March 31, 2026 and December 31, 2025 were not material to NEE or FPL.