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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD  $)
In Millions, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Income Statement [Abstract]
OPERATING REVENUES  $ 3,591  $ 3,811  $ 7,213  $ 7,515
OPERATING EXPENSES
Fuel, purchased power and interchange 1,455 1,797 2,804 3,609
Other operations and maintenance 752 672 1,411 1,291
Depreciation and amortization 386 435 800 844
Taxes other than income taxes and other 289 302 550 583
Total operating expenses 2,882 3,206 5,565 6,327
OPERATING INCOME 709 605 1,648 1,188
OTHER INCOME (DEDUCTIONS)
Interest expense (247) (215) (485) (426)
Equity in earnings of equity method investees 15 13 23 20
Allowance for equity funds used during construction 9 15 15 31
Interest income 28 17 47 43
Gains on disposal of assets - net 9 5 48 12
Other than temporary impairment losses on securities held in nuclear decommissioning funds (13) (1) (15) (54)
Other - net (16) 2 (17) 10
Total other deductions - net (215) (164) (384) (364)
INCOME BEFORE INCOME TAXES 494 441 1,264 824
INCOME TAXES 77 71 291 90
NET INCOME  $ 417  $ 370  $ 973  $ 734
Earnings per share of common stock:
Basic  $ 1.02  $ 0.92  $ 2.38  $ 1.82
Assuming dilution  $ 1.01  $ 0.91  $ 2.37  $ 1.81
Dividends per share of common stock  $ 0.5  $ 0.4725  $ 1  $ 0.945
Weighted-average number of common shares outstanding:
Basic 408.9 403.7 408.2 403
Assuming dilution 411.4 406.4 410.7 405.6
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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD  $)
In Millions
6 Months Ended 12 Months Ended
Jun. 30, 2010
Dec. 31, 2009
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant in service and other property  $ 47,159  $ 46,330
Nuclear fuel 1,441 1,414
Construction work in progress 3,580 2,425
Less accumulated depreciation and amortization (14,602) (14,091)
Total property, plant and equipment - net ( $1,480 related to VIEs at June 30, 2010) 37,578 36,078
CURRENT ASSETS
Cash and cash equivalents 829 238
Customer receivables, net of allowances of  $17 and  $23, respectively 1,485 1,431
Other receivables, net of allowances of  $1 and  $1, respectively 540 816
Materials, supplies and fossil fuel inventory 826 877
Regulatory Assets:
Deferred clause and franchise expenses 106 69
Securitized storm-recovery costs 72 69
Derivatives 245 68
Other 4 3
Derivatives 470 [1] 357 [1]
Other 722 409
Total current assets 5,299 4,337
OTHER ASSETS
Special use funds 3,372 3,390
Other investments 943 935
Prepaid benefit costs 1,212 1,184
Regulatory Assets:
Securitized storm-recovery costs ( $376 related to a VIE at June 30, 2010) 613 644
Deferred clause expenses 215 0
Other 327 265
Other 1,650 1,625
Total other assets 8,332 8,043
TOTAL ASSETS 51,209 48,458
CAPITALIZATION
Common stock 4 4
Additional paid-in capital 5,173 5,055
Retained earnings 8,303 7,739
Accumulated other comprehensive income 49 169
Total common shareholders' equity 13,529 12,967
Long-term debt ( $858 related to VIEs at June 30, 2010) 17,171 16,300
Total capitalization 30,700 29,267
CURRENT LIABILITIES
Commercial paper 1,716 2,020
Notes payable 250 0
Current maturities of long-term debt 1,056 569
Accounts payable 1,316 992
Customer deposits 635 613
Accrued interest and taxes 606 466
Regulatory Liabilities:
Deferred clause and franchise revenues 29 377
Pension 2 2
Derivatives 516 221
Other 1,000 1,189
Total current liabilities 7,126 6,449
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations 2,447 2,418
Accumulated deferred income taxes 5,242 4,860
Regulatory Liabilities:
Accrued asset removal costs 2,211 2,251
Asset retirement obligation regulatory expense difference 623 671
Pension 15 16
Other 276 244
Derivatives 320 170
Other ( $883 related to VIEs at June 30, 2010) 2,249 2,112
Total other liabilities and deferred credits 13,383 12,742
COMMITMENTS AND CONTINGENCIES    
TOTAL CAPITALIZATION AND LIABILITIES  $ 51,209  $ 48,458
[1] At June 30, 2010 and December 31, 2009, NextEra Energy's balances reflect the netting of  $14 million and  $4 million, respectively, in margin cash collateral received from counterparties.
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PARENTHETICAL DATA TO CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD  $)
In Millions
Jun. 30, 2010
Dec. 31, 2009
Statement Of Financial Position [Abstract]
Total property, plant and equipment - net (related to VIEs)  $ 1,480  $ 0
Customer receivables, net of allowances 17 23
Other receivables, net of allowances 1 1
Securitized storm-recovery costs (related to a VIE) 376 0
Long-term debt (related to VIEs) 858 0
Other (related to VIEs)  $ 883  $ 0
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD  $)
In Millions
6 Months Ended
Jun. 30, 2010
Jun. 30, 2009
CASH FLOWS FROM OPERATING ACTIVITIES
Net income  $ 973  $ 734
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization 800 844
Nuclear fuel amortization 140 119
Unrealized (gains) losses on marked to market energy contracts (291) 27
Deferred income taxes 280 73
Cost recovery clauses and franchise fees (600) 268
Change in prepaid option premiums and derivative settlements 166 62
Equity in earnings of equity method investees (23) (20)
Distributions of earnings from equity method investees 21 30
Changes in operating assets and liabilities:
Customer receivables (54) (5)
Other receivables 17 17
Materials, supplies and fossil fuel inventory 51 62
Other current assets (205) (63)
Other assets 95 (30)
Accounts payable 360 59
Customer deposits 22 17
Margin cash collateral (20) (192)
Income taxes (4) 13
Interest and other taxes 151 160
Other current liabilities (87) (28)
Other liabilities (35) 31
Other - net (9) (34)
Net cash provided by operating activities 1,748 2,144
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures of FPL (1,462) (1,159)
Independent power and other investments of NextEra Energy Resources (1,168) (1,099)
Cash grants under the American Recovery and Reinvestment Act of 2009 511 0
Funds received from a spent fuel settlement 0 86
Nuclear fuel purchases (98) (167)
Other capital expenditures (29) (20)
Sale of independent power investments 16 5
Proceeds from sale of securities in special use funds 3,063 1,711
Purchases of securities in special use funds (3,123) (1,750)
Proceeds from sale of other securities 438 286
Purchases of other securities (427) (320)
Other - net (4) 6
Net cash used in investing activities (2,283) (2,421)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt 1,585 2,372
Retirements of long-term debt (269) (1,314)
Sale of differential membership interests 190 0
Net change in short-term debt (54) (743)
Issuances of common stock 69 83
Dividends on common stock (410) (382)
Other - net 15 2
Net cash provided by financing activities 1,126 18
Net increase (decrease) in cash and cash equivalents 591 (259)
Cash and cash equivalents at beginning of period 238 535
Cash and cash equivalents at end of period 829 276
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued property additions  $ 555  $ 851
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Employee Retirement Benefits
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Employee Retirement Benefits
1.  Employee Retirement Benefits

NextEra Energy sponsors a qualified noncontributory defined benefit pension plan for substantially all employees of NextEra Energy and its subsidiaries and has a supplemental executive retirement plan (SERP), which includes a non-qualified supplemental defined benefit pension component that provides benefits to a select group of management and highly compensated employees (collectively, pension benefits).  In addition to pension benefits, NextEra Energy sponsors a contributory postretirement plan for health care and life insurance benefits (other benefits) for retirees of NextEra Energy and its subsidiaries meeting certain eligibility requirements.

The components of net periodic benefit (income) cost for the plans are as follows:

   
Pension Benefits
  
Other Benefits
 
Pension Benefits
 
Other Benefits
 
   
Three Months Ended June 30,
 
Six Months Ended June 30,
 
   
2010
  
2009
  
2010
  
2009
 
2010
 
2009
 
2010
 
2009
 
            
(millions)
       
                      
Service cost
  $15   $13   $1   $2   $30   $26   $3   $2 
Interest cost
  25   27   6   6   51   55   11   12 
Expected return on plan assets
  (60 )  (60 )  (1 )  (1 )  (120 )  (119 )  (1 )  (1 )
Amortization of transition obligation
  -   -   1   1   -   -   2   2 
Amortization of prior service benefit
  (1 )  (1 )  -   -   (2 )  (2 )  -   - 
Amortization of gains
  -   (5 )  -   -   -   (12 )  -   - 
Net periodic benefit (income) cost at NextEra Energy
  $(21)  $(26)  $7   $8   $(41)  $(52)  $15   $15 
Net periodic benefit (income) cost at FPL
  $(14)  $(18)  $6   $6   $(28)  $(37)  $11   $11 

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Derivative Instruments
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Derivative Instruments
2.  Derivative Instruments

NextEra Energy and FPL use derivative instruments (primarily swaps, options, futures and forwards) to manage the commodity price risk inherent in the purchase and sale of fuel and electricity, as well as interest rate and foreign currency exchange rate risk associated with long-term debt, and to optimize the value of NextEra Energy Resources' power generation assets.

With respect to commodities related to NextEra Energy's competitive energy business, NextEra Energy Resources employs rigorous risk management procedures in order to optimize the value of its power generation assets, provide full energy and capacity requirements services primarily to distribution utilities, and engage in power and gas marketing and trading activities to take advantage of expected future favorable price movements and changes in the expected volatility of prices in the energy markets.  These risk management activities involve the use of derivative instruments executed within prescribed limits to manage the risk associated with fluctuating commodity prices.  Transactions in derivative instruments are executed on recognized exchanges or via the over-the-counter markets, depending on the most favorable credit terms and market execution factors.  For NextEra Energy Resources' power generation assets, derivative instruments are used to hedge the commodity price risk associated with the fuel requirements of the assets, where applicable, as well as to hedge the expected energy output of these assets for the portion of the output that is not covered by long-term power purchase agreements (PPA).  These hedges protect NextEra Energy Resources against adverse changes in the wholesale forward commodity markets associated with its generation assets.  With regard to full energy and capacity requirements services, NextEra Energy Resources is required to vary the quantity of energy and related services based on the load demands of the customer served by the distribution utility.  For this type of transaction, derivative instruments are used to hedge the anticipated electricity quantities required to serve these customers and protect against unfavorable changes in the forward energy markets.  Additionally, NextEra Energy Resources takes positions in the energy markets based on differences between actual forward market levels and management's view of fundamental market conditions.  NextEra Energy Resources uses derivative instruments to realize value from these market dislocations, subject to strict risk management limits around market, operational and credit exposure.

Derivative instruments, when required to be marked to market, are recorded on NextEra Energy's and FPL's condensed consolidated balance sheets as either an asset or liability measured at fair value.  At FPL, substantially all changes in the derivatives' fair value are deferred as a regulatory asset or liability until the contracts are settled, and, upon settlement, any gains or losses are passed through the fuel and purchased power cost recovery clause (fuel clause) or the capacity cost recovery clause (capacity clause).  For NextEra Energy's non-rate regulated operations, predominantly NextEra Energy Resources, unless hedge accounting is applied, essentially all changes in the derivatives' fair value for power purchases and sales and trading activities are recognized on a net basis in operating revenues; fuel purchases and sales are recognized on a net basis in fuel, purchased power and interchange expense; and the equity method investees' related activity is recognized in equity in earnings of equity method investees in NextEra Energy's condensed consolidated statements of income.  Settlement gains and losses are included within the line items in the condensed consolidated statements of income to which they relate.

While most of NextEra Energy Resources' derivatives are entered into for the purpose of managing commodity price risk, and to reduce the impact of volatility in interest rates stemming from changes in variable interest rates on outstanding debt, hedge accounting is only applied where specific criteria are met and it is practicable to do so.  In order to apply hedge accounting, the transaction must be designated as a hedge and it must be highly effective in offsetting the hedged risk.  Additionally, for hedges of commodity price risk, physical delivery for forecasted commodity transactions must be probable.  NextEra Energy believes that, where offsetting positions exist at the same location for the same time, the transactions are considered to have been netted and therefore physical delivery has been deemed not to have occurred for financial reporting purposes.  Transactions for which physical delivery is deemed not to have occurred are presented on a net basis in the condensed consolidated statements of income.  Generally, NextEra Energy assesses a hedging instrument's effectiveness by using regression analysis for commodity contracts, and nonstatistical methods including dollar value comparisons of the change in the fair value of the derivative to the change in the fair value or cash flows of the hedged item for interest rate swaps and foreign currency derivative instruments.  Hedge effectiveness is tested at the inception of the hedge and on at least a quarterly basis throughout its life.  The effective portion of the gain or loss on a derivative instrument designated as a cash flow hedge is reported as a component of other comprehensive income (OCI) and is reclassified into earnings in the period(s) during which the transaction being hedged affects earnings.  See Note 6.  The ineffective portion of net unrealized gains (losses) on these hedges is reported in earnings in the current period.

In January 2010, NextEra Energy discontinued hedge accounting for its cash flow hedges related to commodity derivative instruments.  NextEra Energy continues to apply hedge accounting to certain interest rate and foreign currency hedges.  At June 30, 2010, NextEra Energy's accumulated other comprehensive income (AOCI) included amounts related to the discontinued commodity cash flow hedges which have expiration dates through December 2012.  Additionally, at June 30, 2010, NextEra Energy had interest rate cash flow hedges with expiration dates through January 2027 and a foreign currency cash flow hedge that expires in December 2011.

The net fair values of NextEra Energy's and FPL's mark-to-market derivative instrument assets (liabilities) are included in the condensed consolidated balance sheets as follows:

 
NextEra Energy
 
FPL
 
 
June 30,
2010
 
December 31,
2009
 
June 30,
2010
 
December 31,
2009
 
 
(millions)
 
                         
Current derivative assets(a)
 $
470
 
 $
357
 
 $
8
(b)
 $
10
(b)
Noncurrent other assets(c)
 
476
   
329
   
2
   
4
 
Current derivative liabilities(d)
 
(516
)
 
(221
)
 
(254
)
 
(77
)
Noncurrent derivative liabilities(e)
 
(320
)
 
(170
)
 
(28
)(f)
 
(1
)(f)
Total mark-to-market derivative instrument assets (liabilities)
 $
110
 
 $
295
 
 $
(272
)
 $
(64
)
____________________________________
 
(a)  
At June 30, 2010 and December 31, 2009, NextEra Energy's balances reflect the netting of  $14 million and  $4 million (none at FPL), respectively, in margin cash collateral received from counterparties.
(b)  
Included in current other assets on FPL's condensed consolidated balance sheets.
(c)  
At December 31, 2009, NextEra Energy's balances reflect the netting of  $1 million (none at FPL) in margin cash collateral received from counterparties.
(d)  
At June 30, 2010 and December 31, 2009, NextEra Energy's balances reflect the netting of  $74 million and  $75 million (none at FPL), respectively, in margin cash collateral provided to counterparties.
(e)
At June 30, 2010, NextEra Energy's balance reflects the netting of  $44 million (none at FPL) in margin cash collateral provided to counterparties.
(f)  
Included in noncurrent other liabilities on FPL's condensed consolidated balance sheets.

At June 30, 2010 and December 31, 2009, NextEra Energy had approximately  $13 million and  $18 million (none at FPL), respectively, in margin cash collateral received from counterparties that was not offset against derivative assets.  These amounts are included in other current liabilities in the condensed consolidated balance sheets.  Additionally, at June 30, 2010 and December 31, 2009, NextEra Energy had approximately  $66 million and  $95 million (none at FPL), respectively, in margin cash collateral provided to counterparties that was not offset against derivative liabilities.  These amounts are included in other current assets in the condensed consolidated balance sheets.

As discussed above, NextEra Energy uses derivative instruments to, among other things, manage its commodity price risk, interest rate risk and foreign currency exchange rate risk.  The table above presents NextEra Energy's and FPL's net derivative positions at June 30, 2010 and December 31, 2009, which reflect the offsetting of positions of certain transactions within the portfolio, the contractual ability to settle contracts under master netting arrangements and the netting of margin cash collateral.  However, disclosure rules require that the following tables be presented on a gross basis.

The fair values of NextEra Energy's derivatives designated as hedging instruments for accounting purposes are presented below as gross asset and liability values, as required by disclosure rules.  However, the majority of the underlying contracts are subject to master netting arrangements and would not be contractually settled on a gross basis.

   
June 30, 2010
  
December 31, 2009
 
   
Derivative
Assets
  
Derivative
Liabilities
  
Derivative
Assets
  
Derivative
Liabilities
 
   
(millions)
 
Commodity contracts:
            
Current derivative assets
  $-   $-   $54   $1 
Current derivative liabilities
  -   -   45   4 
Noncurrent other assets
  -   -   44   2 
Noncurrent derivative liabilities
  -   -   8   13 
Interest rate swaps:
                
Current derivative assets
  16   -   -   - 
Current derivative liabilities
  -   55   -   51 
Noncurrent other assets
  7   -   61   - 
Noncurrent derivative liabilities
  -   62   -   27 
Foreign currency swap:
                
Current derivative liabilities
  -   3   -   - 
Noncurrent other assets
  13   -   5   - 
Total
  $36   $120   $217   $98 

Gains (losses) related to NextEra Energy's cash flow hedges are recorded on NextEra Energy's condensed consolidated financial statements (none at FPL) as follows:

 
Three Months Ended June 30,
 
 
2010
 
2009
 
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Foreign
Currency
Swap
 
Total
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Total
 
 
(millions)
 
                                           
Gains (losses) recognized in OCI
 $
-
 
 $
(72
)
 $
8
 
 $
(64
)
 $
5
 
 $
53
 
 $
58
 
Gains (losses) reclassified from AOCI to net income
 $
32
(a)
 $
(9
)(b)
 $
8
(c)
 $
31
 
 $
60
(a)
 $
(5
)(b)
 $
55
 
Gains (losses) recognized in income(d)
 $
-
 
 $
-
 
 $
-
 
 $
-
 
 $
(1
)(a)
 $
-
 
 $
(1
)
__________________________________

(a)  
Included in operating revenues.
(b)  
Included in interest expense.
(c)  
 $1 million loss is included in interest expense and the balance is included in other - net.
(d)  
Represents the ineffective portion of the hedging instrument.

 
Six Months Ended June 30,
 
2010
 
2009
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Foreign
Currency
Swap
 
Total
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Total
 
(millions)
                                         
Gains (losses) recognized in OCI
 $
19
 
 $
(106
)
 $
4
 
 $
(83
)
 $
157
 
 $
48
 
 $
205
Gains (losses) reclassified from AOCI to net income
 $
68
(a)
 $
(26
)(b)
 $
6
(c)
 $
48
 
 $
83
(a)
 $
(14
)(b)
 $
69
Gains (losses) recognized in income(d)
 $
1
(a)
 $
-
 
 $
-
 
 $
1
 
 $
9
(a)
 $
-
 
 $
9
__________________________________

(a)  
Included in operating revenues.
(b)  
Included in interest expense.
(c)  
 $1 million loss is included in interest expense and the balance is included in other - net.
(d)  
Represents the ineffective portion of the hedging instrument.

For the three and six months ended June 30, 2010, NextEra Energy recorded a gain of  $4 million and  $4 million, respectively, on two fair value hedges which is reflected in interest expense in the condensed consolidated statements of income and resulted in a corresponding increase in the related debt.  For the three and six months ended June 30, 2009, NextEra Energy recorded a loss of  $6 million and  $5 million, respectively, on a fair value hedge which is reflected in interest expense in the condensed consolidated statements of income and resulted in a corresponding reduction of the related debt.

The fair values of NextEra Energy's and FPL's derivatives not designated as hedging instruments for accounting purposes are presented below as gross asset and liability values, as required by disclosure rules.  However, the majority of the underlying contracts are subject to master netting arrangements and would not be contractually settled on a gross basis.

 
June 30, 2010
 
December 31, 2009
 
 
NextEra Energy
 
FPL
 
NextEra Energy
 
FPL
 
 
Derivative
Assets
 
Derivative
Liabilities
 
Derivative
Assets
 
Derivative
Liabilities
 
Derivative
Assets
 
Derivative
Liabilities
 
Derivative
Assets
 
Derivative
Liabilities
 
 
(millions)
 
Commodity contracts:
                                               
Current derivative assets
 $
705
 
 $
237
 
 $
8
(a)
 $
-
 
 $
611
 
 $
303
 
 $
11
(a)
 $
1
(a)
Current derivative liabilities
 
1,712
   
2,243
   
5
   
259
   
1,002
   
1,288
   
18
   
95
 
Noncurrent other assets
 
621
   
166
   
2
   
-
   
921
   
699
   
4
   
-
 
Noncurrent derivative liabilities
 
1,166
   
1,468
   
2
(b)
 
30
(b)
 
128
   
260
   
-
   
1
(b)
Foreign currency swap:
                                               
Current derivative liabilities
 
-
   
1
   
-
   
-
   
-
   
-
   
-
   
-
 
Noncurrent other assets
 
1
   
-
   
-
   
-
   
-
   
-
   
-
   
-
 
Noncurrent derivative liabilities
 
-
   
-
   
-
   
-
   
-
   
6
   
-
   
-
 
Total
 $
4,205
 
 $
4,115
 
 $
17
 
 $
289
 
 $
2,662
 
 $
2,556
 
 $
33
 
 $
97
 
__________________________________

(a)  
Included in current other assets on FPL's condensed consolidated balance sheets.
(b)  
Included in noncurrent other liabilities on FPL's condensed consolidated balance sheets.

Gains (losses) related to NextEra Energy's derivatives not designated as hedging instruments are recorded on NextEra Energy's condensed consolidated statements of income (none at FPL) as follows:

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2010
 
2009
 
2010
 
2009
 
 
(millions)
 
Commodity contracts:
                       
Operating revenues
 $
(9
)(a)
 $
20
(a)
 $
261
(a)
 $
132
(a)
Fuel, purchased power and interchange
 
27
   
1
   
94
   
28
 
Foreign currency swap:
                       
Other - net
 
7
   
4
   
5
   
(9
)
Total
 $
25
 
 $
25
 
 $
360
 
 $
151
 
__________________________________

(a)  
In addition, for the three and six months ended June 30, 2010, FPL recorded approximately  $63 million of gains and  $392 million of losses, respectively, related to commodity contracts as regulatory liabilities and regulatory assets, respectively, on its condensed consolidated balance sheets.  For the three and six months ended June 30, 2009, FPL recorded losses of approximately  $21 million and  $546 million, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets.

The following table represents net notional volumes associated with derivative instruments that are required to be reported at fair value in NextEra Energy's and FPL's condensed consolidated financial statements.  The table includes significant volumes of transactions that have minimal exposure to commodity price changes because they are variably priced agreements.  The table does not present a complete picture of NextEra Energy's and FPL's overall net economic exposure because NextEra Energy and FPL do not use derivative instruments to hedge all of their commodity exposures.  At June 30, 2010, NextEra Energy and FPL had derivative commodity contracts for the following net notional volumes:

Commodity Type
 
NextEra Energy
 
FPL
   
(millions)
         
Power
 
(30
) mwh(a)
 
-
Natural gas
 
608
  mmbtu(b)
 
782
 mmbtu(b)
Oil
 
1
  barrels
 
2
 barrels
__________________________________

(a)  
Megawatt-hours
(b)  
One million British thermal units

At June 30, 2010, NextEra Energy had 17 interest rate swaps with a notional amount totaling approximately  $2.7 billion and two foreign currency swaps with a notional amount totaling approximately  $290 million.

Certain of NextEra Energy's and FPL's derivative instruments contain credit-risk-related contingent features including, among other things, the requirement to maintain an investment grade credit rating from specified credit rating agencies and certain financial ratios, as well as credit-related cross-default and material adverse change triggers.  At June 30, 2010, the aggregate fair value of NextEra Energy's derivative instruments with credit-risk-related contingent features that were in a liability position was approximately  $1.6 billion ( $0.3 billion for FPL).

If the credit-risk-related contingent features underlying these agreements and other wholesale commodity contracts were triggered, NextEra Energy or FPL could be required to post collateral or settle contracts according to contractual terms which generally allow netting of contracts in offsetting positions.  Certain contracts contain multiple types of credit-related triggers.  To the extent these contracts contain a credit ratings downgrade trigger, the maximum exposure is included in the following credit ratings collateral posting requirements.  If FPL Group Capital's or FPL's credit ratings were downgraded to BBB (a two level downgrade for FPL and a one level downgrade for FPL Group Capital from the current lowest applicable rating), NextEra Energy would be required to post collateral such that the total posted collateral would be approximately  $450 million ( $130 million at FPL).  If FPL Group Capital's and FPL's credit ratings were downgraded to below investment grade, NextEra Energy would be required to post additional collateral such that the total posted collateral would be approximately  $2.2 billion ( $0.8 billion at FPL).  Some contracts at NextEra Energy, including some FPL contracts, do not contain credit ratings downgrade triggers, but do contain provisions that require certain financial measures be maintained and/or have credit-related cross-default triggers.  In the event these provisions were triggered, NextEra Energy could be required to post additional collateral of up to approximately  $500 million ( $100 million at FPL).

Collateral may be posted in the form of cash or credit support.  At June 30, 2010, NextEra Energy had posted approximately  $175 million (none at FPL) in the form of letters of credit, related to derivatives, in the normal course of business which could be applied toward the collateral requirements described above.  FPL and FPL Group Capital have bank revolving line of credit facilities in excess of the collateral requirements described above that would be available to support, among other things, derivative activities.  Under the terms of the bank revolving line of credit facilities, maintenance of a specific credit rating is not a condition to drawing on these credit facilities, although there are other conditions to drawing on these credit facilities.

Additionally, some contracts contain certain adequate assurance provisions where a counterparty may demand additional collateral based on subjective events and/or conditions.  Due to the subjective nature of these provisions, NextEra Energy and FPL are unable to determine an exact value for these items and they are not included in any of the quantitative disclosures above.
 
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Fair Value Measurements
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Fair Value Measurements
3.  Fair Value Measurements

NextEra Energy and FPL use several different valuation techniques to measure the fair value of assets and liabilities, relying primarily on the market approach of using prices and other market information for identical and/or comparable assets and liabilities for those assets and liabilities that are measured at fair value on a recurring basis.  NextEra Energy's and FPL's assessment of the significance of any particular input to the fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.

Cash Equivalents - Cash equivalents consist of short-term, highly liquid investments with original maturities of three months or less.  NextEra Energy and FPL primarily hold investments in money market funds.  The fair value of these funds is calculated using current market prices.

Special Use Funds and Other Investments - NextEra Energy and FPL hold primarily debt and equity securities directly as well as equity securities indirectly through commingled funds.  Substantially all equity securities are valued by the custodian at their quoted market prices.  Commingled funds, which are similar to mutual funds, are maintained by banks or investment companies and hold certain investments in accordance with a stated set of objectives.  The fair value of commingled funds is primarily derived from the quoted prices in active markets of the underlying securities.  Because the fund shares are offered to a limited group of investors, they are not considered to be traded in an active market.  For debt securities, the custodian obtains multiple prices and price types from pricing vendors whenever possible, which enables cross-provider validations.  A primary price source is identified by the custodian based on asset type, class or issue of each security.

Derivative Instruments - NextEra Energy and FPL measure the fair value of commodity contracts on a daily basis using prices observed on commodities exchanges and in the over-the-counter markets, or through the use of industry-standard valuation techniques, such as option modeling or discounted cash flows techniques, incorporating both observable and unobservable valuation inputs.  The resulting measurements are the best estimate of fair value as represented by the transfer of the asset or liability through an orderly transaction in the marketplace at the measurement date.  Non-performance risk is also considered in the determination of fair value for all derivative assets and liabilities, including the consideration of a credit valuation adjustment.

Exchange-traded derivative assets and liabilities are valued directly using unadjusted quoted prices.  For exchange-traded derivative assets and liabilities where the principal market is deemed to be inactive based on average daily volumes and open interest, the measurement is established using settlement prices from the exchanges, and therefore considered to be valued using significant other observable inputs.

NextEra Energy and FPL also enter into over-the-counter commodity contract derivatives.  The majority of these contracts are transacted at liquid trading points, and the prices for these contracts are verified using quoted prices in active markets from exchanges, brokers or pricing services for similar contracts.  In instances where the reference exchange markets are deemed to be inactive or do not have a similar contract that trades on an exchange, the derivative assets and liabilities may be valued using significant other observable inputs and potentially significant unobservable inputs.  In such instances, the valuation for these contracts is established using techniques including extrapolation from or interpolation between actively traded contracts, or estimated basis adjustments from liquid trading points.

NextEra Energy, through NextEra Energy Resources, also enters into load serving contracts, which, in many cases, meet the definition of derivatives and are measured at fair value.  These contracts typically have one or more inputs that are not observable and are significant to the valuation of the contract.  In addition, certain exchange and non-exchange traded derivative options at NextEra Energy have one or more significant inputs that are not observable, and are valued using industry-standard option models.

In all cases where NextEra Energy and FPL use significant unobservable inputs for the valuation of a commodity contract, consideration is given to the assumptions that market participants would use in valuing the asset or liability.  This includes, but is not limited to, assumptions about market liquidity, volatility and contract duration.

NextEra Energy uses interest rate and foreign currency swaps to mitigate and adjust interest rate and foreign currency exposure related to certain debt issuances.  NextEra Energy estimates the fair value of these derivatives using a discounted cash flows valuation technique based on the net amount of estimated future cash inflows and outflows related to the swap agreements.  Non-performance risk is also considered in the determination of fair value for all derivative assets and liabilities, including the consideration of a credit valuation adjustment.

NextEra Energy's and FPL's financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:

 
June 30, 2010
 
 
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Netting(a)
 
Total
 
 
(millions)
 
Assets:
                                           
Cash equivalents:
                                           
NextEra Energy - equity securities
 
 $
-
     
 $
361
     
 $
-
   
 $
-
   
 $
361
 
FPL - equity securities
 
 $
-
     
 $
154
     
 $
-
   
 $
-
   
 $
154
 
Special use funds:
                                           
NextEra Energy:
                                           
Equity securities
 
 $
573
     
 $
946
(b)
   
 $
-
   
 $
-
   
 $
1,519
 
U.S. Government and municipal bonds
 
 $
602
     
 $
102
     
 $
-
   
 $
-
   
 $
704
 
Corporate debt securities
 
 $
-
     
 $
430
     
 $
-
   
 $
-
   
 $
430
 
Mortgage-backed securities
 
 $
-
     
 $
560
     
 $
-
   
 $
-
   
 $
560
 
Other debt securities
 
 $
-
     
 $
96
     
 $
-
   
 $
-
   
 $
96
 
FPL:
                                           
Equity securities
 
 $
105
     
 $
825
(b)
   
 $
-
   
 $
-
   
 $
930
 
U.S. Government and municipal bonds
 
 $
515
     
 $
86
     
 $
-
   
 $
-
   
 $
601
 
Corporate debt securities
 
 $
-
     
 $
324
     
 $
-
   
 $
-
   
 $
324
 
Mortgage-backed securities
 
 $
-
     
 $
437
     
 $
-
   
 $
-
   
 $
437
 
Other debt securities
 
 $
-
     
 $
43
     
 $
-
   
 $
-
   
 $
43
 
Other investments:
                                           
NextEra Energy:
                                           
Equity securities
 
 $
2
     
 $
3
     
 $
-
   
 $
-
   
 $
5
 
U.S. Government and municipal bonds
 
 $
20
     
 $
-
     
 $
-
   
 $
-
   
 $
20
 
Corporate debt securities
 
 $
-
     
 $
32
     
 $
-
   
 $
-
   
 $
32
 
Mortgage-backed securities
 
 $
-
     
 $
48
     
 $
-
   
 $
-
   
 $
48
 
Other
 
 $
5
     
 $
12
     
 $
-
   
 $
-
   
 $
17
 
Derivatives:
                                           
NextEra Energy:
                                           
Commodity contracts
 
 $
1,751
     
 $
1,461
     
 $
994
   
 $
(3,297
)
 
 $
909
(c)
Interest rate swaps
 
 $
-
     
 $
23
     
 $
-
   
 $
-
   
 $
23
(c)
Foreign currency swaps
 
 $
-
     
 $
14
     
 $
-
   
 $
-
   
 $
14
(c)
FPL - commodity contracts
 
 $
-
     
 $
7
     
 $
10
   
 $
(7
)
 
 $
10
(c)
Liabilities:
                                           
Derivatives:
                                           
NextEra Energy:
                                           
Commodity contracts
 
 $
1,838
     
 $
1,631
     
 $
647
   
 $
(3,401
)
 
 $
715
(c)
Interest rate swaps
 
 $
-
     
 $
117
     
 $
-
   
 $
-
   
 $
117
(c)
Foreign currency swaps
 
 $
-
     
 $
4
     
 $
-
   
 $
-
   
 $
4
(c)
FPL - commodity contracts
 
 $
-
     
 $
286
     
 $
3
   
 $
(7
)
 
 $
282
(c)
__________________________________

(a)  
Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.
(b)  
At NextEra Energy, approximately  $869 million ( $787 million at FPL) are invested in commingled funds whose underlying investments would be Level 1 if those investments were held directly by NextEra Energy or FPL.
(c)  
See Note 2 for a reconciliation of net derivatives to NextEra Energy's and FPL's condensed consolidated balance sheets.

   
December 31, 2009
 
   
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Netting(a)
 
Total
 
   
(millions)
 
Assets:
                                             
Cash equivalents:
                                             
NextEra Energy - equity securities
   
 $
-
     
 $
79
     
 $
-
   
 $
-
   
 $
79
 
FPL - equity securities
   
 $
-
     
 $
43
     
 $
-
   
 $
-
   
 $
43
 
Special use funds:
                                             
NextEra Energy:
                                             
Equity securities
   
 $
657
     
 $
1,048
(b)
   
 $
-
   
 $
-
   
 $
1,705
 
U.S. Government and municipal bonds
   
 $
275
     
 $
299
     
 $
-
   
 $
-
   
 $
574
 
Corporate debt securities
   
 $
-
     
 $
452
     
 $
-
   
 $
-
   
 $
452
 
Mortgage-backed securities
   
 $
-
     
 $
618
     
 $
-
   
 $
-
   
 $
618
 
Other debt securities
   
 $
-
     
 $
41
     
 $
-
   
 $
-
   
 $
41
 
FPL:
                                             
Equity securities
   
 $
104
     
 $
920
(b)
   
 $
-
   
 $
-
   
 $
1,024
 
U.S. Government and municipal bonds
   
 $
230
     
 $
278
     
 $
-
   
 $
-
   
 $
508
 
Corporate debt securities
   
 $
-
     
 $
346
     
 $
-
   
 $
-
   
 $
346
 
Mortgage-backed securities
   
 $
-
     
 $
503
     
 $
-
   
 $
-
   
 $
503
 
Other debt securities
   
 $
-
     
 $
27
     
 $
-
   
 $
-
   
 $
27
 
Other investments:
                                             
NextEra Energy:
                                             
Equity securities
   
 $
3
     
 $
4
     
 $
-
   
 $
-
   
 $
7
 
U.S. Government and municipal bonds
   
 $
-
     
 $
38
     
 $
-
   
 $
-
   
 $
38
 
Corporate debt securities
   
 $
-
     
 $
35
     
 $
-
   
 $
-
   
 $
35
 
Mortgage-backed securities
   
 $
-
     
 $
31
     
 $
-
   
 $
-
   
 $
31
 
Other
   
 $
4
     
 $
-
     
 $
-
   
 $
-
   
 $
4
 
Derivatives:
                                             
NextEra Energy
   
 $
988
     
 $
1,089
     
 $
801
   
 $
(2,192
)
 
 $
686
(c)
FPL
   
 $
-
     
 $
20
     
 $
13
   
 $
(19
)
 
 $
14
(c)
Liabilities:
                                             
Derivatives:
                                             
NextEra Energy
   
 $
1,110
     
 $
1,106
     
 $
437
   
 $
(2,262
)
 
 $
391
(c)
FPL
   
 $
-
     
 $
95
     
 $
2
   
 $
(19
)
 
 $
78
(c)
__________________________________

(a)  
Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.
(b)  
At NextEra Energy, approximately  $918 million ( $836 million at FPL) are invested in commingled funds whose underlying investments would be Level 1 if those investments were held directly by NextEra Energy or FPL.
(c)  
See Note 2 for a reconciliation of net derivatives to NextEra Energy's and FPL's condensed consolidated balance sheets.

The reconciliation of changes in the fair value of derivatives that are based on significant unobservable inputs is as follows:

   
Three Months Ended June 30,
 
   
2010
  
2009
 
   
NextEra
Energy
  
FPL
  
NextEra
Energy
  
FPL
 
   
(millions)
 
              
Fair value of derivatives based on significant unobservable inputs at March 31
  $549   $10   $539   $5 
Realized and unrealized gains (losses):
                
Included in earnings(a)
  (110 )  -   47   - 
Included in regulatory assets and liabilities
  (1 )  (1 )  -   - 
Settlements and net option premiums
  (69 )  (2 )  (116 )  3 
Net transfers in/out(b)
  (22 )  -   15   - 
Fair value of net derivatives based on significant unobservable inputs at June 30
  $347   $7   $485   $8 
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)
  $(99)  $-   $49   $- 
__________________________________

(a)  
For the three months ended June 30, 2010 and 2009,  $(109) million and  $47 million, respectively, of realized and unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income.  For the three months ended June 30, 2010,  $(1) million of realized and unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.
(b)  
For the three months ended June 30, 2010, gross transfers of  $1 million into Level 3 were a result of decreased observability of market data, and gross transfers of  $23 million from Level 3 to Level 2 were a result of increased observability of market data.  NextEra Energy's and FPL's policy is to recognize all transfers at the beginning of the reporting period.
(c)  
For the three months ended June 30, 2010 and 2009,  $(98) million and  $49 million, respectively, of unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income.  For the three months ended June 30, 2010,  $(1) million of unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.

   
Six Months Ended June 30,
 
   
2010
  
2009
 
   
NextEra
Energy
  
FPL
  
NextEra
Energy
  
FPL
 
   
(millions)
 
              
Fair value of net derivatives based on significant unobservable inputs at December 31 of prior year
  $364   $11   $404   $(1)
Realized and unrealized gains (losses):
                
Included in earnings(a)
  350   -   385   - 
Included in regulatory assets and liabilities
  (1 )  (1 )  5   5 
Settlements and net option premiums
  (338 )  (3 )  (246 )  5 
Net transfers in/out(b)
  (28 )  -   (63 )  (1 )
Fair value of net derivatives based on significant unobservable inputs at June 30
  $347   $7   $485   $8 
The amount of gains for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)
  $237   $-   $321   $1 
__________________________________

(a)  
For the six months ended June 30, 2010 and 2009,  $343 million and  $385 million, respectively, of realized and unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income.  For the six months ended June 30, 2010,  $7 million of realized and unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.
(b)  
For the six months ended June 30, 2010, gross transfers of  $2 million into Level 3 were a result of decreased observability of market data, and gross transfers of  $30 million from Level 3 to Level 2 were a result of increased observability of market data.  NextEra Energy's and FPL's policy is to recognize all transfers at the beginning of the reporting period.
(c)  
For the six months ended June 30, 2010 and 2009,  $233 million and  $321 million, respectively, of unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income.  For the six months ended June 30, 2010,  $4 million of unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.

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Financial Instruments
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Financial Instruments
4.  Financial Instruments

NextEra Energy and FPL adopted new accounting and disclosure provisions related to other than temporary impairments and the fair value of financial instruments beginning April 1, 2009.  Under the new accounting provisions, an investment in a debt security is required to be assessed for an other than temporary impairment based on whether the entity has an intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized cost basis.  Additionally, if the entity does not expect to recover the amortized cost of a debt security, an impairment is recognized in earnings equal to the estimated credit loss.  For debt securities held as of April 1, 2009 for which an other than temporary impairment had been previously recognized but for which assessment under the new accounting provisions indicated the impairment was temporary, NextEra Energy recorded an adjustment to increase April 1, 2009 retained earnings by approximately  $5 million with a corresponding reduction in AOCI.

The carrying amounts of cash equivalents, notes payable and commercial paper approximate their fair values.  At June 30, 2010 and December 31, 2009, other investments of NextEra Energy, not included in the table below, included financial instruments of approximately  $50 million and  $39 million, respectively, which primarily consist of notes receivable that are carried at estimated fair value or cost, which approximates fair value.

The following estimates of the fair value of financial instruments have been made primarily using available market information.  However, the use of different market assumptions or methods of valuation could result in different estimated fair values.

 
June 30, 2010
 
December 31, 2009
 
 
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
 
 
(millions)
 
NextEra Energy:
                       
Special use funds
 $
3,372
(a)
 $
3,372
(b)
 $
3,390
(a)
 $
3,390
(b)
Other investments:
                       
Notes receivable
 $
530
 
 $
553
(c)
 $
534
 
 $
556
(c)
Debt securities
 $
112
(d)
 $
112
(b)
 $
104
(d)
 $
104
(b)
Equity securities
 $
52
 
 $
120
(e)
 $
45
 
 $
105
(e)
Long-term debt, including current maturities
 $
18,227
 
 $
19,193
(f)
 $
16,869
 
 $
17,256
(f)
Interest rate swaps - net unrealized losses
 $
(94
)
 $
(94
)(g)
 $
(17
)
 $
(17
)(g)
Foreign currency swaps - net unrealized gains (losses)
 $
10
 
 $
10
(g)
 $
(1
)
 $
(1
)(g)
                         
FPL:
                       
Special use funds
 $
2,413
(a)
 $
2,413
(b)
 $
2,408
(a)
 $
2,408
(b)
Long-term debt, including current maturities
 $
6,335
 
 $
6,988
(f)
 $
5,836
 
 $
6,055
(f)
__________________________________

(a)  
At June 30, 2010, includes  $8 million of cash,  $50 million of investments accounted for under the equity method and  $5 million of loans not measured at fair value on a recurring basis (none,  $75 million and  $3 million, respectively, for FPL).  For the remaining balance, see Note 3 for classification by major security type.  The amortized cost of debt and equity securities is  $1,735 million and  $1,327 million, respectively, at June 30, 2010 and  $1,638 million and  $1,396 million, respectively, at December 31, 2009 ( $1,353 million and  $843 million, respectively, at June 30, 2010 and  $1,344 million and  $873 million, respectively, at December 31, 2009 for FPL).
(b)  
Based on quoted market prices for these or similar issues.
(c)  
Classified as held to maturity.  Based on market prices provided by external sources.  Notes receivable bear interest at variable rates based on an underlying index plus a margin and mature from 2014 to 2029.
(d)  
Classified as trading securities.
(e)  
Modeled internally based on latest market data.
(f)  
Provided by external sources based on market prices indicative of market conditions.
(g)  
Modeled internally based on market values using discounted cash flow analysis and credit valuation adjustment.

Special Use Funds - The special use funds consist of FPL's storm fund assets of  $125 million and NextEra Energy's and FPL's nuclear decommissioning fund assets of  $3,247 million and  $2,288 million, respectively, at June 30, 2010.  The majority of investments held in the special use funds consist of equity and debt securities which are classified as available for sale and are carried at estimated fair value (see Note 3).  For FPL's special use funds, consistent with regulatory treatment, market adjustments, including any other than temporary impairment losses, result in a corresponding adjustment to the related regulatory liability accounts.  For NextEra Energy's non-rate regulated operations, market adjustments result in a corresponding adjustment to OCI, except for unrealized losses associated with marketable securities considered to be other than temporary, including any credit losses, which are recognized as a loss in NextEra Energy's condensed consolidated statements of income.  Debt securities included in the nuclear decommissioning funds have a weighted-average maturity at June 30, 2010 of approximately six years at both NextEra Energy and FPL.  FPL's storm fund primarily consists of debt securities with a weighted-average maturity at June 30, 2010 of approximately three years.  The cost of securities sold is determined using the specific identification method.

The approximate realized gains and losses and proceeds from the sale of available for sale securities are as follows:

 
Three Months Ended
June 30,
 
Six Months Ended
June 30, 2010
 
 
2010
 
2009
   
 
NextEra
Energy
 
FPL
 
NextEra
Energy
 
FPL
 
NextEra
Energy
 
FPL
 
 
(millions)
 
                    
Realized gains
  $17   $7   $10   $5   $62   $31 
Realized losses
  $4   $3   $12   $11   $14   $11 
Proceeds from sale of securities
  $1,163   $817   $835   $682   $3,063   $2,425 

The unrealized gains on available for sale securities are as follows:

   
June 30, 2010
  
December 31, 2009
 
   
NextEra
Energy
  
FPL
  
NextEra
Energy
  
FPL
 
   
(millions)
 
              
Equity securities
  $286   $180   $400   $240 
U.S. Government and municipal bonds
  $26   $23   $14   $13 
Corporate debt securities
  $24   $19   $21   $16 
Mortgage-backed securities
  $27   $22   $22   $18 
Other debt securities
  $3   $2   $1   $1 

The total 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:

 
June 30, 2010
  
December 31, 2009
 
 
NextEra Energy(a)
 
FPL(a)
  
NextEra Energy(a)
  
FPL(a)
 
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
  
Unrealized
Losses
  
Fair
Value
  
Unrealized
Losses
  
Fair
Value
 
 
(millions)
 
                          
U.S. Government and municipal bonds
  $-   $21   $-   $17   $6   $255   $5   $207 
Corporate debt securities
  $1   $48   $1   $35   $2   $104   $1   $84 
Mortgage-backed securities
  $1   $13   $1   $9   $4   $225   $3   $184 
Other debt securities
  $-   $13   $-   $8   $-   $10   $-   $8 
__________________________________

(a)  
At June 30, 2010 and December 31, 2009, NextEra Energy had 10 securities and 47 securities, respectively, in an unrealized loss position for greater than twelve months, including 1 security and 18 securities, respectively, for FPL.  The total unrealized loss on these securities was less than  $1 million and approximately  $3 million, respectively, and the fair value was approximately  $4 million and  $37 million, respectively, for NextEra Energy, including less than  $1 million and approximately  $2 million, respectively, of unrealized losses with a fair value of approximately  $1 million and  $25 million, respectively, for FPL.  Consistent with regulatory treatment for FPL, marketable securities held in special use funds are classified as available for sale and are carried at market value with market adjustments, including any other than temporary impairment losses, resulting in a corresponding adjustment to the related regulatory liability accounts.

Regulations issued by the Federal Energy Regulatory Commission (FERC) and the U.S. Nuclear Regulatory Commission (NRC) provide general risk management guidelines to protect nuclear decommissioning funds and to allow such funds to earn a reasonable return.  The FERC regulations prohibit investments in any securities of NextEra Energy or its subsidiaries, affiliates or associates, excluding investments tied to market indices or mutual funds.  Similar restrictions applicable to the decommissioning funds for NextEra Energy Resources' nuclear plants are contained in the NRC operating licenses for those facilities or in NRC regulations applicable to NRC licensees not in cost-of-service environments.  With respect to the decommissioning fund for NextEra Energy Resources' Seabrook Station (Seabrook) nuclear plant, decommissioning fund contributions and withdrawals are also regulated by the Nuclear Decommissioning Financing Committee pursuant to New Hampshire law.

The nuclear decommissioning reserve funds are managed by investment managers who must comply with the guidelines of NextEra Energy and FPL and rules of the applicable regulatory authorities.  The funds' assets are invested giving consideration to taxes, liquidity, risk, diversification and other prudent investment objectives.

Interest Rate and Foreign Currency Swaps - NextEra Energy and its subsidiaries use a combination of fixed rate and variable rate debt to manage interest rate exposure.  Interest rate swaps are used to mitigate and adjust interest rate exposure when deemed appropriate based upon market conditions or when required by financing agreements.  In addition, FPL Group Capital entered into a cross currency basis swap to hedge against currency movements with respect to both interest and principal payments on a loan and a cross currency swap to hedge against currency and interest rate movements with respect to both interest and principal payments on a loan.

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Income Taxes
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Income Taxes
5.  Income Taxes

NextEra Energy's effective income tax rate for the three months ended June 30, 2010 and 2009 was approximately 16% and 16%, respectively.  The reduction from the federal statutory rate mainly reflects the benefit of wind production tax credits (PTCs) of approximately  $89 million and  $69 million, respectively, related to NextEra Energy Resources' wind projects.  PTCs can significantly affect NextEra Energy's effective income tax rate depending on the amount of pretax income and wind generation.  The corresponding rates and amounts for the six months ended June 30, 2010 and 2009 were approximately 23% and 11%, respectively, and approximately  $164 million and  $141 million, respectively.

NextEra Energy recognizes PTCs as wind energy is generated and sold based on a per kilowatt-hour (kwh) rate prescribed in applicable federal and state statutes, which may differ significantly from amounts computed, on a quarterly basis, using an overall effective income tax rate anticipated for the full year.  NextEra Energy uses this method of recognizing PTCs for specific reasons, including that PTCs are an integral part of the financial viability of most wind projects and a fundamental component of such wind projects' results of operations.

NextEra Energy's effective income tax rate for the three months ended June 30, 2010 and 2009 also reflects a  $16 million and a  $17 million, respectively, deferred tax benefit associated with grants (convertible investment tax credits (ITCs)) under the American Recovery and Reinvestment Act of 2009 (Recovery Act) for certain wind projects expected to be placed in service.  The corresponding amounts for the six months ended June 30, 2010 and 2009 were  $30 million and  $32 million.

NextEra Energy's effective income tax rate for the six months ended June 30, 2009 also reflected the following:
 
an approximately  $18 million benefit (foreign tax benefit) reflecting the reduction of previously deferred income taxes resulting from an additional equity investment in Canadian operations; and
a  $17 million benefit (state tax benefit) related to a change in state tax law that extended the carry forward period of ITCs on certain wind projects.
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Comprehensive Income
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Comprehensive Income
6.  Comprehensive Income

NextEra Energy's comprehensive income is as follows:

   
Three Months Ended
June 30,
 
   
2010
  
2009
 
   
(millions)
 
        
Net income of NextEra Energy
  $417   $370 
Net unrealized gains (losses) on cash flow hedges:
        
Effective portion of net unrealized gains (losses) (net of  $24 tax benefit and  $23 tax expense, respectively)
  (40 )  35 
Reclassification from AOCI to net income (net of  $13 and  $23 tax benefit, respectively)
  (18 )  (32 )
Net unrealized gains (losses) on available for sale securities:
        
Net unrealized gains (losses) on securities still held (net of  $22 tax benefit and  $36 tax expense, respectively)
  (32 )  50 
Reclassification from AOCI to net income (net of  $4 and  $1 tax benefit, respectively)
  (5 )  (1 )
Defined benefit pension and other benefits plans (net of  $1 tax benefit)
  -   (1 )
Net unrealized gains (losses) on foreign currency translation (net of  $6 tax benefit and  $3 tax expense, respectively)
  (12 )  6 
Comprehensive income of NextEra Energy
  $310   $427 

   
Six Months Ended
June 30,
 
   
2010
  
2009
 
   
(millions)
 
        
Net income of NextEra Energy
  $973   $734 
Net unrealized gains (losses) on cash flow hedges:
        
Effective portion of net unrealized gains (losses) (net of  $30 tax benefit and  $83 tax expense, respectively)
  (52 )  122 
Reclassification from AOCI to net income (net of  $21 and  $27 tax benefit, respectively)
  (27 )  (38 )
Net unrealized gains (losses) on available for sale securities:
        
Net unrealized gains (losses) on securities still held (net of  $6 tax benefit and  $36 tax expense, respectively)
  (13 )  51 
Reclassification from AOCI to net income (net of  $11 and  $3 tax benefit, respectively)
  (14 )  (4 )
Defined benefit pension and other benefits plans (net of  $1 tax benefit)
  -   (2 )
Net unrealized gains (losses) on foreign currency translation (net of  $7 tax benefit and  $2 tax expense, respectively)
  (14 )  3 
Comprehensive income of NextEra Energy
  $853   $866 

Approximately  $12 million of gains included in NextEra Energy's AOCI at June 30, 2010, related to derivative instruments, are expected to be reclassified into earnings within the next twelve months as either the hedged fuel is consumed, electricity is sold or principal and/or interest payments are made.  Such amount assumes no change in fuel prices, power prices, interest rates or scheduled principal payments.  AOCI is separately displayed on the condensed consolidated balance sheets of NextEra Energy.  FPL's comprehensive income is the same as its reported net income.

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Variable Interest Entities
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Variable Interest Entities
7.  Variable Interest Entities

Effective January 1, 2010, NextEra Energy and FPL adopted new accounting guidance which modified the consolidation model in previous guidance and expanded the disclosures related to variable interest entities (VIE).  An entity is considered to be a VIE when its total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support or its equity investors, as a group, lack the characteristics of having a controlling financial interest.  A reporting company is required to consolidate a VIE as its primary beneficiary when it has both the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.  Upon adoption of this new accounting guidance, neither NextEra Energy nor FPL was required to consolidate any additional VIEs or deconsolidate any VIEs.  As of June 30, 2010, NextEra Energy has six VIEs which it consolidates and has interests in certain other VIEs which it does not consolidate.

FPL - FPL is considered the primary beneficiary of, and therefore consolidates, a VIE that is a wholly-owned bankruptcy remote special purpose subsidiary that it formed in 2007 for the sole purpose of issuing storm-recovery bonds pursuant to the securitization provisions of the Florida Statutes and a financing order of the Florida Public Service Commission (FPSC).  FPL is considered the primary beneficiary because FPL has the power to direct the significant activities of the VIE, and its equity investment, which is subordinate to the bondholder's interest in the VIE, is at risk.  Four hurricanes in 2005 and three hurricanes in 2004 caused major damage in parts of FPL's service territory.  Storm restoration costs incurred by FPL during 2005 and 2004 exceeded the amount in FPL's funded storm and property insurance reserve, resulting in a storm reserve deficiency.  In 2007, the VIE issued  $652 million aggregate principal amount of senior secured bonds (storm-recovery bonds), primarily for the after-tax equivalent of the total of FPL's unrecovered balance of the 2004 storm restoration costs, the 2005 storm restoration costs and approximately  $200 million to reestablish FPL's storm and property insurance reserve.  In connection with this financing, net proceeds, after debt issuance costs, to the VIE (approximately  $644 million) were used to acquire the storm-recovery property, which includes the right to impose, collect and receive a storm-recovery charge from all customers receiving electric transmission or distribution service from FPL under rate schedules approved by the FPSC or under special contracts, certain other rights and interests that arise under the financing order issued by the FPSC and certain other collateral pledged by the VIE that issued the bonds.  The storm-recovery bonds are payable only from and secured by the storm-recovery property.  The bondholders have no recourse to the general credit of FPL.  The assets of the VIE were approximately  $459 million at June 30, 2010 and consisted primarily of storm-recovery property, which is included in securitized storm-recovery costs on NextEra Energy's and FPL's condensed consolidated balance sheets.  The liabilities of the VIE were approximately  $562 million at June 30, 2010 and consisted primarily of storm-recovery bonds, which are included in long-term debt on NextEra Energy's and FPL's condensed consolidated balance sheets.

FPL identified a potential VIE, which is considered a qualifying facility as defined by the Public Utility Regulatory Policies Act of 1978, as amended (PURPA).  PURPA requires utilities, such as FPL, to purchase the electricity output of a qualifying facility.  FPL entered into a PPA effective in 1994 with this 250 megawatt (mw) coal-fired qualifying facility to purchase substantially all of the facility's capacity and electrical output over a substantial portion of its estimated useful life.  FPL absorbs a portion of the facility's variability related to changes in the market price of coal through the price it pays per mwh (energy payment).  After making exhaustive efforts, FPL was unable to obtain the information from the facility necessary to determine whether the facility is a VIE or whether FPL is the primary beneficiary of the facility.  The PPA with the facility contains no provision which legally obligates the facility to release this information to FPL.  The energy payments paid by FPL will fluctuate as coal prices change.  This fluctuation does not expose FPL to losses since the energy payments paid by FPL to the facility are passed on to FPL's customers through the fuel clause as approved by the FPSC.  Notwithstanding the fact that FPL's energy payments are recovered through the fuel clause, if the facility was determined to be a VIE, the absorption of some of the facility's fuel price variability might cause FPL to be considered the primary beneficiary.  During the three months ended June 30, 2010 and 2009, FPL purchased 373,152 mwh and 335,064 mwh, respectively, from the facility at a total cost of approximately  $46 million and  $41 million, respectively.  During the six months ended June 30, 2010 and 2009, FPL purchased 735,542 mwh and 808,829 mwh, respectively, from the facility at a total cost of approximately  $91 million and  $83 million, respectively.

Additionally, FPL entered into a PPA effective 1995 with a 330 mw coal-fired qualifying facility to purchase substantially all of the facility's electrical output over a substantial portion of its estimated useful life.  The facility is considered a VIE because FPL absorbs a portion of the facility's variability related to changes in the market price of coal through the energy payment.  Since FPL does not control the most significant activities of the facility, including operations and maintenance, FPL is not the primary beneficiary and does not consolidate this VIE.  The energy payments paid by FPL will fluctuate as coal prices change.  This fluctuation does not expose FPL to losses since the energy payments paid by FPL to the facility are passed on to FPL's customers through the fuel clause as approved by the FPSC.

In March 2010, FPL terminated its nuclear fuel lease agreements with a VIE from which it had previously leased nuclear fuel.  Upon termination of the lease agreements, FPL no longer consolidates the VIE since it no longer has a variable interest in the lessor.  Upon deconsolidation, FPL did not recognize any gain or loss and there was no significant effect on NextEra Energy's and FPL's condensed consolidated balance sheets.

NextEra Energy Resources - NextEra Energy consolidates four NextEra Energy Resources' VIEs.  NextEra Energy Resources is considered the primary beneficiary of these VIEs since NextEra Energy Resources controls the most significant activities of these VIEs, including operations and maintenance, and through its 100% equity ownership has the obligation to absorb expected losses of these VIEs.

Two of NextEra Energy Resources' VIEs consolidate several entities which own and operate natural gas and/or oil electric generating facilities with the capability of producing a total of 778 mw.  These VIEs sell their electric output under power sales contracts to third parties, with expiration dates ranging from 2018 through 2022.  The power sales contracts provide the offtaker the ability to dispatch the facilities and require the offtaker to absorb the cost of fuel.  These VIEs use both third party debt and equity to finance their operations.  The debt is secured by liens against the generating facilities and the other assets of these entities.  The debt holders have no recourse to the general credit of NextEra Energy Resources.  The assets and liabilities of these VIEs totaled approximately  $309 million and  $226 million, respectively, at June 30, 2010 and consisted primarily of property, plant and equipment and long-term debt.

The other two NextEra Energy Resources' VIEs consolidate several entities which own and operate wind electric generating facilities with the capability of producing a total of 768 mw and an entity which owns and operates a 78 mile, 230 kilovolt transmission line.  These VIEs sell their electric output under power sales contracts to third parties with expiration dates ranging from 2026 through 2034.  The VIEs use both third-party debt and equity to finance their operations.  Certain investors that hold no equity interest in the VIEs hold differential membership interests, which give them the right to receive a portion of the economic attributes of the generating facilities, including certain tax attributes.  The debt is secured by liens against the generating facilities and the other assets of these entities.  The debt holders have no recourse to the general credit of NextEra Energy Resources.  The assets and liabilities of these VIEs totaled approximately  $1.2 billion and  $1.2 billion, respectively, at June 30, 2010, and consisted primarily of property, plant and equipment, and a deferred liability associated with the differential membership interests (recorded in other liabilities on NextEra Energy's condensed consolidated balance sheet) and long-term debt.

Other - As of June 30, 2010, several NextEra Energy subsidiaries have investments totaling approximately  $629 million ( $419 million at FPL) in certain special purpose entities, which consisted primarily of investments in mortgage-backed securities.  These investments are included in special use funds and other investments on NextEra Energy's condensed consolidated balance sheets and in special use funds on FPL's condensed consolidated balance sheets.  NextEra Energy is considered the primary beneficiary and therefore consolidates one of these entities with total assets of approximately  $50 million.  NextEra Energy is considered the primary beneficiary of this entity because FPL and NextEra Energy Resources are each equal and the only investors in this entity, and combined they absorb substantially all of the expected losses and residual returns.  With respect to the other entities, NextEra Energy subsidiaries are not the primary beneficiary and therefore do not consolidate any of these entities because NextEra Energy subsidiaries do not control any of the ongoing activities of these entities, were not involved in the initial design of these entities and do not have a controlling financial interest in these entities.

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Common Stock
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Common Stock
8.  Common Stock

Earnings Per Share - The reconciliation of NextEra Energy's basic and diluted earnings per share of common stock is as follows:

   
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
   
2010
  
2009
  
2010
  
2009
 
   
(millions, except per share amounts)
 
              
Numerator - net income
  $417   $370   $973   $734 
                  
Denominator:
                
Weighted-average number of common shares outstanding - basic
  408.9   403.7   408.2   403.0 
Restricted stock, performance share awards, options, warrants and equity units(a)
  2.5   2.7   2.5   2.6 
Weighted-average number of common shares outstanding - assuming dilution
  411.4   406.4   410.7   405.6 
                  
Earnings per share of common stock:
                
Basic
  $1.02   $0.92   $2.38   $1.82 
Assuming dilution
  $1.01   $0.91   $2.37   $1.81 
__________________________________

(a)  
Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.  Restricted stock, performance share awards, options, warrants and equity units are included in diluted weighted-average number of common shares outstanding by applying the treasury stock method.

Common shares issuable pursuant to equity units and stock options, restricted stock and performance share awards which were not included in the denominator above due to their antidilutive effect were approximately 7.8 million and 0.8 million for the three months ended June 30, 2010 and 2009, respectively, and 8.7 million and 0.9 million for the six months ended June 30, 2010 and 2009, respectively.

Continuous Offering of NextEra Energy Common Stock - In January 2009, NextEra Energy entered into an agreement under which NextEra Energy may offer and sell, from time to time, NextEra Energy common stock having a gross sales price of up to  $400 million.  During the three and six months ended June 30, 2010, NextEra Energy received gross proceeds through the sale and issuance of common stock under this agreement of approximately  $45 million.  Since inception of the agreement through June 30, 2010, NextEra Energy has received gross proceeds through the sale and issuance of common stock under this agreement of approximately  $205 million.

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Debt
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Debt
9.  Debt

As of June 30, 2010, long-term debt issuances and borrowings by subsidiaries of NextEra Energy during 2010 were as follows:

Date Issued
 
Company
 
Debt Issued
 
Interest
Rate
 
Principal
Amount
 
Maturity
Date
 
               
(millions)
     
                       
February 2010
 
FPL
 
First mortgage bonds
 
5.69%
   
 $
500
   
2040
 
March 2010
 
NextEra Energy Resources subsidiary
 
Senior secured limited recourse notes
 
6.56%
   
 $
305
   
2030
 
April 2010
 
FPL Group Capital
 
Term loan
 
Variable
(a)
 
 $
100
   
2013
 
April 2010
 
FPL Group Capital
 
Term loan
 
Variable
(a)
 
 $
100
   
2013
 
April 2010
 
NextEra Energy Resources subsidiary
 
Senior secured limited recourse notes
 
Variable
(a)(b)
 
 $
255
   
2027
 
May 2010
 
FPL Group Capital
 
Debentures
 
2.55%
(b)
 
 $
250
   
2013
 
June 2010
 
NextEra Energy Resources subsidiary
 
Limited recourse term loan
 
Variable
(a)
 
 $
78
   
2015
 
__________________________________

(a)  
Variable rate is based on an underlying index plus a margin.
(b)
Interest rate swap agreements were entered into with respect to these issuances.

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Commitments and Contingencies
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Commitments and Contingencies
10.  Commitments and Contingencies

Commitments - NextEra Energy and its subsidiaries have made commitments in connection with a portion of their projected capital expenditures.  Capital expenditures at FPL include, among other things, the cost for construction or acquisition of additional facilities and equipment to meet customer demand, as well as capital improvements to and maintenance of existing facilities.  At NextEra Energy Resources, capital expenditures include, among other things, the cost, including capitalized interest, for construction of wind and solar projects and the procurement of nuclear fuel.  Capital expenditures for Corporate and Other primarily include FPL FiberNet, LLC's (FPL FiberNet) costs to meet customer-specific requirements and maintain its fiber-optic network.

At June 30, 2010, estimated planned capital expenditures for the remainder of 2010 through 2014 were as follows:

   
2010
  
2011
  
2012
  
2013
  
2014
  
Total
 
   
(millions)
 
FPL:
                  
Generation:(a)
                  
New(b)(c)
  $550   $1,390   $1,790   $500   $110   $4,340 
Existing
  235   545   490   490   465   2,225 
Transmission and distribution
  290   600   695   710   545   2,840 
Nuclear fuel
  60   200   175   250   205   890 
General and other
  70   100   120   60   125   475 
Total
  $1,205   $2,835   $3,270   $2,010   $1,450   $10,770 
                          
NextEra Energy Resources:
                        
Wind(d)
  $355   $45   $10   $10   $5   $425 
Nuclear(e)
  270   445   315   255   240   1,525 
Solar(f)
  105   530   345   80   -   1,060 
Natural gas
  20   75   70   45   20   230 
Other(g)
  50   90   60   45   50   295 
Total
  $800   $1,185   $800   $435   $315   $3,535 
                          
Corporate and Other(h)
  $20   $55   $30   $30   $25   $160 
__________________________________

(a)  
Includes allowance for funds used during construction (AFUDC) of approximately  $28 million,  $47 million,  $80 million,  $86 million and  $31 million in 2010 to 2014, respectively.
(b)  
Includes land, generating structures, transmission interconnection and integration and licensing.
(c)  
Includes projects that have received FPSC approval.  Includes pre-construction costs and carrying charges (equal to a pretax AFUDC rate) on construction costs recoverable through the capacity clause of approximately  $50 million,  $79 million,  $67 million and  $24 million in 2010 to 2013, respectively.  Excludes capital expenditures for the construction costs for the two additional nuclear units at FPL's Turkey Point site beyond what is required to receive an NRC license for each unit.
(d)  
Consists of capital expenditures for planned new wind projects that have received applicable internal approvals, and related transmission.  NextEra Energy Resources plans to add new wind generation of approximately 3,500 mw to 5,000 mw in 2010 through 2014, including 600 mw to 850 mw in 2010, at a total cost of approximately  $7 billion to  $10 billion.
(e)  
Includes nuclear fuel.
(f)
Consists of capital expenditures for planned new solar projects that have received applicable internal approvals.  NextEra Energy Resources plans to add new solar generation of approximately 400 mw to 600 mw in 2010 through 2014 at a total cost of approximately  $3 billion to  $4 billion.
(g)
Consists of capital expenditures that have received applicable internal approvals.  NextEra Energy Resources plans to add natural gas infrastructure projects totaling approximately  $400 million to  $600 million in 2010 through 2014.
(h)
Consists of capital expenditures that have received applicable internal approvals.  Excludes capital expenditures for a transmission line in Texas totaling approximately  $800 million by 2014.

NextEra Energy has guaranteed certain payment obligations of FPL Group Capital, including most payment obligations under FPL Group Capital's debt and guarantees.  Additionally, at June 30, 2010, subsidiaries of NextEra Energy, other than FPL, in the normal course of business, have guaranteed certain debt service and fuel payments of non-consolidated entities of NextEra Energy Resources.  The terms of the guarantees relating to the non-consolidated entities are equal to the terms of the related agreements/contracts, with remaining terms ranging from less than one year to seven years.  The maximum potential amount of future payments that could be required under these guarantees at June 30, 2010 was approximately  $54 million.  At June 30, 2010, NextEra Energy did not have any liabilities recorded for these guarantees.  In certain instances, NextEra Energy can seek recourse from third parties for amounts paid under the guarantees.  At June 30, 2010, the fair value of these guarantees was not material.

Contracts - In addition to the estimated planned capital expenditures included in the table in Commitments above, FPL has commitments under long-term purchased power and fuel contracts.  FPL is obligated under take-or-pay purchased power contracts with JEA and with subsidiaries of The Southern Company (Southern subsidiaries) to pay for approximately 1,330 mw annually from mid-2010 through 2015 and 375 mw annually thereafter through 2021.  FPL also has various firm pay-for-performance contracts to purchase approximately 695 mw from certain cogenerators and small power producers (qualifying facilities) with expiration dates ranging from December 2010 through 2032.  The purchased power contracts provide for capacity and energy payments.  Energy payments are based on the actual power taken under these contracts.  Capacity payments for the pay-for-performance contracts are subject to the qualifying facilities meeting certain contract conditions.  FPL has one agreement with an electricity supplier to purchase approximately 155 mw of power with an expiration date of 2012.  In general, the agreement requires FPL to make a capacity payment and supply the fuel consumed by the plant under the contract.  FPL has contracts with expiration dates through 2032 for the purchase and transportation of natural gas and coal, and storage of natural gas.

NextEra Energy Resources has entered into contracts primarily for the purchase of wind turbines and towers, solar reflectors, steam turbine generators and heat collection elements and related construction activities, as well as for the supply, conversion, enrichment and fabrication of nuclear fuel, with expiration dates ranging from October 2010 through 2022, approximately  $1.1 billion of which is included in the estimated planned capital expenditures table in Commitments above.  In addition, NextEra Energy Resources has contracts primarily for the purchase, transportation and storage of natural gas and firm transmission service with expiration dates ranging from October 2010 through 2033.

The required capacity and/or minimum payments under the contracts discussed above as of June 30, 2010 were estimated as follows:

   
2010
  
2011
  
2012
  
2013
  
2014
  
Thereafter
 
FPL:
 
(millions)
 
Capacity payments:(a)
                  
JEA and Southern subsidiaries
  $100   $210   $210   $200   $180   $350 
Qualifying facilities
  $150   $270   $290   $270   $270   $2,890 
Other electricity suppliers
  $5   $10   $5   $-   $-   $- 
Minimum payments, at projected prices:
                        
Natural gas, including transportation and storage(b)
  $1,120   $1,495   $615   $405   $395   $4,475 
Oil(b)
  $-   $120   $-   $-   $-   $- 
Coal(b)
  $40   $60   $10   $-   $-   $- 
                          
NextEra Energy Resources(c)
  $860   $335   $240   $80   $65   $765 
__________________________________

(a)  
Capacity payments under these contracts, substantially all of which are recoverable through the capacity clause, totaled approximately  $137 million and  $154 million for the three months ended June 30, 2010 and 2009, respectively, and approximately  $286 million and  $307 million for the six months ended June 30, 2010 and 2009, respectively.  Energy payments under these contracts, which are recoverable through the fuel clause, totaled approximately  $114 million and  $108 million for the three months ended June 30, 2010 and 2009, respectively, and approximately  $213 million and  $204 million for the six months ended June 30, 2010 and 2009, respectively.
(b)  
Recoverable through the fuel clause.
(c)  
Includes termination payments associated with wind turbine contracts for projects that have not yet received applicable internal approvals.

In addition, FPL has entered into several long-term agreements for storage capacity and transportation of natural gas from facilities that have not yet started construction or, if started, have not yet completed construction.  These agreements range from 15 to 25 years in length and contain firm commitments by FPL totaling up to approximately  $175 million annually or  $4.3 billion over the terms of the agreements.  These firm commitments are contingent upon the occurrence of certain events, including completion of construction of the facilities in 2011.

Insurance - Liability for accidents at nuclear power plants is governed by the Price-Anderson Act, which limits the liability of nuclear reactor owners to the amount of insurance available from both private sources and an industry retrospective payment plan.  In accordance with this Act, NextEra Energy maintains  $375 million of private liability insurance per site, which is the maximum obtainable, and participates in a secondary financial protection system, which provides up to  $12.2 billion of liability insurance coverage per incident at any nuclear reactor in the United States.  Under the secondary financial protection system, NextEra Energy is subject to retrospective assessments of up to  $940 million ( $470 million for FPL), plus any applicable taxes, per incident at any nuclear reactor in the United States, payable at a rate not to exceed  $140 million ( $70 million for FPL) per incident per year.  NextEra Energy and FPL are contractually entitled to recover a proportionate share of such assessments from the owners of minority interests in Seabrook, Duane Arnold Energy Center (Duane Arnold) and St. Lucie Unit No. 2, which approximates  $14 million,  $35 million and  $18 million, plus any applicable taxes, per incident, respectively.

NextEra Energy participates in nuclear insurance mutual companies that provide  $2.75 billion of limited insurance coverage per occurrence per site for property damage, decontamination and premature decommissioning risks at its nuclear plants.  The proceeds from such insurance, however, must first be used for reactor stabilization and site decontamination before they can be used for plant repair.  NextEra Energy also participates in an insurance program that provides limited coverage for replacement power costs if a nuclear plant is out of service for an extended period of time because of an accident.  In the event of an accident at one of NextEra Energy's or another participating insured's nuclear plants, NextEra Energy could be assessed up to  $164 million ( $95 million for FPL), plus any applicable taxes, in retrospective premiums in a policy year.  NextEra Energy and FPL are contractually entitled to recover a proportionate share of such assessments from the owners of minority interests in Seabrook, Duane Arnold and St. Lucie Unit No. 2, which approximates  $2 million,  $4 million and  $3 million, plus any applicable taxes, respectively.

Due to the high cost and limited coverage available from third-party insurers, FPL does not have insurance coverage for a substantial portion of its transmission and distribution property and NextEra Energy has no insurance coverage for FPL FiberNet's fiber-optic cable located throughout Florida.  Should FPL's future storm restoration costs exceed the reserve amount established through the issuance of storm-recovery bonds by a VIE in 2007, FPL may recover storm restoration costs, subject to prudence review by the FPSC, either through securitization provisions pursuant to Florida law or through surcharges approved by the FPSC.

In the event of a loss, the amount of insurance available might not be adequate to cover property damage and other expenses incurred.  Uninsured losses and other expenses, to the extent not recovered from customers in the case of FPL, would be borne by NextEra Energy and FPL and could have a material adverse effect on NextEra Energy's and FPL's financial condition and results of operations.

Legal Proceedings - In November 1999, the Attorney General of the United States, on behalf of the U.S. Environmental Protection Agency (EPA), brought an action in the U.S. District Court for the Northern District of Georgia against Georgia Power Company and other subsidiaries of The Southern Company for certain alleged violations of the Prevention of Significant Deterioration (PSD) provisions and the New Source Performance Standards (NSPS) of the Clean Air Act.  In May 2001, the EPA amended its complaint to allege, among other things, that Georgia Power Company constructed and is continuing to operate Scherer Unit No. 4, in which FPL owns a 76% interest, without obtaining a PSD permit, without complying with NSPS requirements, and without applying best available control technology for nitrogen oxides, sulfur dioxides and particulate matter as required by the Clean Air Act.  It also alleges that unspecified major modifications have been made at Scherer Unit No. 4 that require its compliance with the aforementioned Clean Air Act provisions.  The EPA seeks injunctive relief requiring the installation of best available control technology and civil penalties of up to  $25,000 per day for each violation from an unspecified date after June 1, 1975 through January 30, 1997.  The EPA has made revisions to its civil penalty rule such that the maximum penalty is  $27,500 per day for each violation from January 31, 1997 through March 15, 2004,  $32,500 per day for each violation from March 16, 2004 through January 12, 2009 and  $37,500 per day for each violation thereafter.  Georgia Power Company has answered the amended complaint, asserting that it has complied with all requirements of the Clean Air Act, denying the plaintiff's allegations of liability, denying that the plaintiff is entitled to any of the relief that it seeks and raising various other defenses.  In June 2001, a federal district court stayed discovery and administratively closed the case and the EPA has not yet moved to reopen the case.  In April 2007, the U.S. Supreme Court in a separate unrelated case rejected an argument that a "major modification" occurs at a plant only when there is a resulting increase in the hourly rate of air emissions.  Georgia Power Company has made a similar argument in defense of its case, but has other factual and legal defenses that are unaffected by the Supreme Court's decision.

In 1995 and 1996, NextEra Energy, through an indirect subsidiary, purchased from Adelphia Communications Corporation (Adelphia) 1,091,524 shares of Adelphia common stock and 20,000 shares of Adelphia preferred stock (convertible into 2,358,490 shares of Adelphia common stock) for an aggregate price of approximately  $35,900,000.  On January 29, 1999, Adelphia repurchased all of these shares for  $149,213,130 in cash.  In June 2004, Adelphia, Adelphia Cablevision, L.L.C. and the Official Committee of Unsecured Creditors of Adelphia filed a complaint against NextEra Energy and its indirect subsidiary in the U.S. Bankruptcy Court, Southern District of New York.  The complaint alleges that the repurchase of these shares by Adelphia was a fraudulent transfer, in that at the time of the transaction Adelphia (i) was insolvent or was rendered insolvent, (ii) did not receive reasonably equivalent value in exchange for the cash it paid, and (iii) was engaged or about to engage in a business or transaction for which any property remaining with Adelphia had unreasonably small capital.  The complaint seeks the recovery for the benefit of Adelphia's bankruptcy estate of the cash paid for the repurchased shares, plus interest.  NextEra Energy has filed an answer to the complaint.  NextEra Energy believes that the complaint is without merit because, among other reasons, Adelphia will be unable to demonstrate that (i) Adelphia's repurchase of shares from NextEra Energy, which repurchase was at the market value for those shares, was not for reasonably equivalent value, (ii) Adelphia was insolvent at the time of the repurchase, or (iii) the repurchase left Adelphia with unreasonably small capital.  The case is in discovery and has been scheduled for trial in June 2011.

In October 2004, TXU Portfolio Management Company (TXU) served FPL Energy Pecos Wind I, LP, FPL Energy Pecos Wind I GP, LLC, FPL Energy Pecos Wind II, LP, FPL Energy Pecos Wind II GP, LLC and Indian Mesa Wind Farm, LP (NextEra Energy Resources Affiliates) as defendants in a civil action filed in the District Court in Dallas County, Texas.  FPL Energy, LLC, now known as NextEra Energy Resources, was added as a defendant in 2005.  The petition alleged that the NextEra Energy Resources Affiliates had contractual obligations to produce and sell to TXU a minimum quantity of renewable energy credits each year during the period from 2002 through 2005 and that the NextEra Energy Resources Affiliates failed to meet this obligation.  The plaintiff asserted claims for breach of contract and declaratory judgment and sought damages of approximately  $34 million.  Following a jury trial in 2007, among other findings, both TXU and the NextEra Energy Resources Affiliates were found to have breached the contracts.  In August 2008, the trial court issued a final judgment holding that the contracts were not terminated and neither party was entitled to recover any damages.  In November 2008, TXU appealed the final judgment to the Fifth District Court of Appeals in Dallas, Texas.  In an opinion issued in July 2010, the appellate court reversed portions of the trial court's judgment, ruling that TXU is entitled to recover damages for contract breach against the NextEra Energy Resources Affiliates under a liquidated damages provision in the contracts.  The appellate court has remanded the case back to the trial court for proceedings to determine the amount of damages payable by the NextEra Energy Resources Affiliates under the liquidated damages provision.  As of the date of this report, the NextEra Energy Resources Affiliates plan to seek an en banc rehearing of the appellate court's decisions and/or to appeal the decision to the Texas Supreme Court.

NextEra Energy and FPL are vigorously defending, and believe that they or their affiliates have meritorious defenses to, the lawsuits described above.  In addition to the legal proceedings discussed above, NextEra Energy and its subsidiaries, including FPL, are involved in other legal and regulatory proceedings, actions and claims in the ordinary course of their businesses.  Generating plants in which NextEra Energy or FPL has an ownership interest are also involved in legal and regulatory proceedings, actions and claims, the liabilities from which, if any, would be shared by NextEra Energy or FPL.  In the event that NextEra Energy and FPL, or their affiliates, do not prevail in the lawsuits described above or these other legal and regulatory proceedings, actions and claims, there may be a material adverse effect on their financial statements.  While management is unable to predict with certainty the outcome of the lawsuits described above or these other legal and regulatory proceedings, actions and claims, based on current knowledge it is not expected that their ultimate resolution, individually or collectively, will have a material adverse effect on the financial statements of NextEra Energy or FPL.

Regulatory Proceedings - On March 17, 2010, the FPSC issued its final order (FPSC rate order) with regard to FPL's March 2009 petition requesting, among other things, a permanent base rate increase.  The FPSC rate order, which established new retail base rates for FPL effective March 1, 2010, included an increase in retail base revenues of approximately  $75 million on an annualized basis, established a regulatory return on common equity (ROE) of 10.0% with a range of plus or minus 100 basis points and an adjusted regulatory equity ratio of 59.1%, and shifted certain costs from retail base rates to the capacity clause.  The FPSC rate order also directed FPL to reduce depreciation expense related to a depreciation reserve surplus of approximately  $895 million over the 2010 to 2013 period.

On April 1, 2010, FPL filed a motion for reconsideration and clarification (FPL motion) asking the FPSC to correct specific computational errors in the FPSC rate order (reconsideration errors) and to clarify an apparent inconsistency relating to the computation of the annual depreciation expense used in setting FPL's retail base rates (depreciation inconsistency).  Regardless of whether the FPSC ultimately concludes that revenue requirements should be higher or lower than the retail base rates implemented on March 1, 2010, the FPL motion requested that the FPSC resolve the reconsideration errors and depreciation inconsistency through an adjustment to depreciation expense which would keep retail base rates and revenues the same as set forth in the FPSC rate order and currently in effect.  The FPSC's ruling on the FPL motion is pending.  FPL cannot predict the outcome of the FPL motion proceedings before the FPSC, and the outcome could be different from that requested in the FPL motion.

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Segment Information
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Segment Information
11.  Segment Information

NextEra Energy's reportable segments include FPL, a rate-regulated utility, and NextEra Energy Resources, a competitive energy business.  Beginning in 2010, NextEra Energy Resources' financial statements include non-utility interest expense on a deemed capital structure of 70% debt and allocated shared service costs.  These changes were made to reflect an expected average capital structure at FPL Group Capital and more accurately reflect NextEra Energy Resources' operating costs.  Corporate and Other represents other business activities, other segments that are not separately reportable and eliminating entries.  NextEra Energy's segment information is as follows:

 
Three Months Ended June 30,
 
2010
 
2009
 
FPL
 
NextEra
Energy
Resources(a)
 
Corporate
& Other
 
NextEra
Energy
Consoli-
dated
 
FPL
 
NextEra
Energy
Resources(a)(c)
 
Corporate
& Other(c)
 
NextEra
Energy
Consoli-
dated
                       
(millions)
                         
                                                           
Operating revenues
 $
2,580
   
 $
965
   
 $
46
 
 $
3,591
 
 $
2,864
   
 $
911
     
 $
36
   
 $
3,811
Operating expenses
 $
2,079
   
 $
767
   
 $
36
 
 $
2,882
 
 $
2,468
   
 $
710
     
 $
28
   
 $
3,206
Net income (loss)(b)
 $
265
   
 $
154
   
 $
(2
)
 $
417
 
 $
213
   
 $
163
     
 $
(6
)
 
 $
370

 
Six Months Ended June 30,
 
2010
 
2009
 
FPL
 
NextEra
Energy
Resources(a)
 
Corporate
& Other
 
NextEra
Energy
Consoli-
dated
 
FPL
 
NextEra
Energy
Resources(a)(c)
 
Corporate
& Other(c)
 
NextEra
Energy
Consoli-
dated
                       
(millions)
                        
                                                           
Operating revenues
 $
4,908
   
 $
2,212
   
 $
93
 
 $
7,213
 
 $
5,437
   
 $
2,000
     
 $
78
   
 $
7,515
Operating expenses
 $
4,014
   
 $
1,478
   
 $
73
 
 $
5,565
 
 $
4,779
   
 $
1,486
     
 $
62
   
 $
6,327
Net income (loss)(b)
 $
456
   
 $
521
   
 $
(4
)
 $
973
 
 $
340
   
 $
391
     
 $
3
   
 $
734

 
June 30, 2010
 
December 31, 2009
 
FPL
 
NextEra
Energy
Resources
 
Corporate
& Other
 
NextEra
Energy
Consoli-
dated
 
FPL
 
NextEra
Energy
Resources
 
Corporate
& Other
 
NextEra
Energy
Consoli-
dated
                       
(millions)
                         
                                                           
Total assets
 $
28,414
   
 $
20,999
   
 $
1,796
 
 $
51,209
 
 $
26,812
   
 $
20,136
     
 $
1,510
   
 $
48,458
__________________________________

(a)  
NextEra Energy Resources' interest expense is based on a deemed capital structure of 70% debt.  For this purpose, the deferred credit associated with differential membership interests sold by NextEra Energy Resources subsidiaries is included with debt.  Residual non-utility interest expense is included in Corporate and Other.
(b)  
See Note 5 for a discussion of NextEra Energy Resources' tax benefits related to PTCs.
(c)  
Segment information restated for the changes listed above.

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Summarized Financial Information of FPL Group Capital
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Summarized Financial Information of FPL Group Capital
12.  Summarized Financial Information of FPL Group Capital

FPL Group Capital, a 100% owned subsidiary of NextEra Energy, provides funding for, and holds ownership interests in, NextEra Energy's operating subsidiaries other than FPL.  Most of FPL Group Capital's debt, including its debentures, and payment guarantees are fully and unconditionally guaranteed by NextEra Energy.  Condensed consolidating financial information is as follows:

Condensed Consolidating Statements of Income

   
Three Months Ended June 30,
 
   
2010
  
2009
 
   
NextEra
Energy
(Guarantor)
  
FPL
Group
Capital
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guarantor)
  
FPL
Group
Capital
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
            
(millions)
          
                          
Operating revenues
  $-   $1,013   $2,578   $3,591   $-   $949   $2,862   $3,811 
Operating expenses
  (2 )  (804 )  (2,076 )  (2,882 )  (1 )  (740 )  (2,465 )  (3,206 )
Interest expense
  (4 )  (156 )  (87 )  (247 )  (4 )  (136 )  (75 )  (215 )
Other income (deductions) - net
  427   20   (415 )  32   382   40   (371 )  51 
Income (loss) before income taxes
  421   73   -   494   377   113   (49 )  441 
Income tax expense (benefit)
  4   (79 )  152   77   7   (54 )  118   71 
Net income (loss)
  $417   $152   $(152)  $417   $370   $167   $(167)  $370 
__________________________________

(a)  
Represents FPL and consolidating adjustments.

   
Six Months Ended June 30,
 
   
2010
  
2009
 
   
NextEra
Energy
(Guarantor)
  
FPL
Group
Capital
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guarantor)
  
FPL
Group
Capital
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
            
(millions)
          
                          
Operating revenues
  $-   $2,310   $4,903   $7,213   $-   $2,084   $5,431   $7,515 
Operating expenses
  (2 )  (1,554 )  (4,009 )  (5,565 )  (1 )  (1,553 )  (4,773 )  (6,327 )
Interest expense
  (8 )  (307 )  (170 )  (485 )  (8 )  (270 )  (148 )  (426 )
Other income (deductions) - net
  989   86   (974 )  101   756   31   (725 )  62 
Income (loss) before income taxes
  979   535   (250 )  1,264   747   292   (215 )  824 
Income tax expense (benefit)
  6   11   274   291   13   (112 )  189   90 
Net income (loss)
  $973   $524   $(524)  $973   $734   $404   $(404)  $734 
__________________________________

(a)  
Represents FPL and consolidating adjustments.

Condensed Consolidating Balance Sheets

 
June 30, 2010
 
December 31, 2009
 
 
NextEra
Energy
(Guaran-
tor)
 
FPL
Group
Capital
 
Other(a)
 
NextEra
Energy
Consoli-
dated
 
NextEra
Energy
(Guaran-
tor)
 
FPL
Group
Capital
 
Other(a)
 
NextEra
Energy
Consoli-
dated
 
                   
(millions)
                   
PROPERTY, PLANT AND EQUIPMENT
                                               
Electric utility plant in service and other property
 $
19
 
 $
20,278
 
 $
31,883
 
 $
52,180
 
 $
2
 
 $
19,185
 
 $
30,982
 
 $
50,169
 
Less accumulated depreciation and amortization
 
-
   
(3,842
)
 
(10,760
)
 
(14,602
)
 
-
   
(3,513
)
 
(10,578
)
 
(14,091
)
Total property, plant and equipment - net
 
19
   
16,436
   
21,123
   
37,578
   
2
   
15,672
   
20,404
   
36,078
 
CURRENT ASSETS
                                               
Cash and cash equivalents
 
-
   
450
   
379
   
829
   
-
   
156
   
82
   
238
 
Receivables
 
667
   
869
   
489
   
2,025
   
453
   
1,247
   
547
   
2,247
 
Other
 
111
   
1,493
   
841
   
2,445
   
4
   
1,258
   
590
   
1,852
 
Total current assets
 
778
   
2,812
   
1,709
   
5,299
   
457
   
2,661
   
1,219
   
4,337
 
OTHER ASSETS
                                               
Investment in subsidiaries
 
13,299
   
-
   
(13,299
)
 
-
   
12,785
   
-
   
(12,785
)
 
-
 
Other
 
378
   
3,507
   
4,447
   
8,332
   
557
   
3,257
   
4,229
   
8,043
 
Total other assets
 
13,677
   
3,507
   
(8,852
)
 
8,332
   
13,342
   
3,257
   
(8,556
)
 
8,043
 
TOTAL ASSETS
 $
14,474
 
 $
22,755
 
 $
13,980
 
 $
51,209
 
 $
13,801
 
 $
21,590
 
 $
13,067
 
 $
48,458
 
                                                 
CAPITALIZATION
                                               
Common shareholders' equity
 $
13,529
 
 $
4,272
 
 $
(4,272
)
 $
13,529
 
 $
12,967
 
 $
4,349
 
 $
(4,349
)
 $
12,967
 
Long-term debt
 
-
   
10,879
   
6,292
   
17,171
   
-
   
10,506
   
5,794
   
16,300
 
Total capitalization
 
13,529
   
15,151
   
2,020
   
30,700
   
12,967
   
14,855
   
1,445
   
29,267
 
CURRENT LIABILITIES
                                               
Debt due within one year
 
-
   
2,090
   
932
   
3,022
   
-
   
1,729
   
860
   
2,589
 
Accounts payable
 
6
   
438
   
872
   
1,316
   
-
   
453
   
539
   
992
 
Other
 
471
   
1,212
   
1,105
   
2,788
   
417
   
1,170
   
1,281
   
2,868
 
Total current liabilities
 
477
   
3,740
   
2,909
   
7,126
   
417
   
3,352
   
2,680
   
6,449
 
OTHER LIABILITIES AND DEFERRED CREDITS
                                               
Asset retirement obligations
 
-
   
566
   
1,881
   
2,447
   
-
   
585
   
1,833
   
2,418
 
Accumulated deferred income taxes
 
149
   
1,512
   
3,581
   
5,242
   
94
   
1,318
   
3,448
   
4,860
 
Regulatory liabilities
 
15
   
-
   
3,110
   
3,125
   
16
   
-
   
3,166
   
3,182
 
Other
 
304
   
1,786
   
479
   
2,569
   
307
   
1,480
   
495
   
2,282
 
Total other liabilities and deferred credits
 
468
   
3,864
   
9,051
   
13,383
   
417
   
3,383
   
8,942
   
12,742
 
COMMITMENTS AND CONTINGENCIES
                                               
TOTAL CAPITALIZATION AND LIABILITIES
 $
14,474
 
 $
22,755
 
 $
13,980
 
 $
51,209
 
 $
13,801
 
 $
21,590
 
 $
13,067
 
 $
48,458
 
__________________________________

(a)  
Represents FPL and consolidating adjustments.

Condensed Consolidating Statements of Cash Flows

   
Six Months Ended June 30,
 
   
2010
 
2009
 
   
NextEra
Energy
(Guaran-
tor)
 
 
FPL
Group
Capital
 
 
 
 
Other(a)
 
NextEra
Energy
Consoli-
dated
 
NextEra
Energy
(Guaran-
tor)
 
 
FPL
Group
Capital
 
 
 
 
Other(a)
 
NextEra
Energy
Consoli-
dated
 
                     
(millions)
                   
                                                   
NET CASH PROVIDED BY OPERATING ACTIVITIES
 
 $
487
 
 $
723
 
 $
538
 
 $
1,748
 
 $
361
 
 $
833
 
 $
950
 
 $
2,144
 
                                                   
CASH FLOWS FROM INVESTING ACTIVITIES
                                                 
Capital expenditures, independent power and other investments and nuclear fuel purchases
   
-
   
(1,271
)
 
(1,486
)
 
(2,757
)
 
-
   
(1,196
)
 
(1,249
)
 
(2,445
)
Capital contribution to FPL
   
(135
)
 
-
   
135
   
-
   
-
   
-
   
-
   
-
 
Cash grants under the Recovery Act
   
-
   
426
   
85
   
511
   
-
   
-
   
-
   
-
 
Other - net
   
-
   
(15
)
 
(22
)
 
(37
)
 
(53
)
 
(28
)
 
105
   
24
 
Net cash used in investing activities
   
(135
)
 
(860
)
 
(1,288
)
 
(2,283
)
 
(53
)
 
(1,224
)
 
(1,144
)
 
(2,421
)
                                                   
CASH FLOWS FROM FINANCING ACTIVITIES
                                                 
Issuances of long-term debt
   
-
   
1,071
   
514
   
1,585
   
-
   
1,879
   
493
   
2,372
 
Retirements of long-term debt
   
-
   
(247
)
 
(22
)
 
(269
)
 
-
   
(1,069
)
 
(245
)
 
(1,314
)
Sale of differential membership interests
   
-
   
190
   
-
   
190
   
-
   
-
   
-
   
-
 
Net change in short-term debt
   
-
   
(125
)
 
71
   
(54
)
 
-
   
(718
)
 
(25
)
 
(743
)
Issuances of common stock
   
69
   
-
   
-
   
69
   
83
   
-
   
-
   
83
 
Dividends on common stock
   
(410
)
 
-
   
-
   
(410
)
 
(382
)
 
-
   
-
   
(382
)
Other - net
   
(11
)
 
(458
)
 
484
   
15
   
(9
)
 
62
   
(51
)
 
2
 
Net cash provided by (used in) financing activities
   
(352
)
 
431
   
1,047
   
1,126
   
(308
)
 
154
   
172
   
18
 
                                                   
Net increase (decrease) in cash and cash equivalents
   
-
   
294
   
297
   
591
   
-
   
(237
)
 
(22
)
 
(259
)
Cash and cash equivalents at beginning of period
   
-
   
156
   
82
   
238
   
-
   
414
   
121
   
535
 
Cash and cash equivalents at end of period
 
 $
-
 
 $
450
 
 $
379
 
 $
829
 
 $
-
 
 $
177
 
 $
99
 
 $
276
 
__________________________________

(a)  
Represents FPL and consolidating adjustments.

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Derivative Instruments (Policies)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Purpose for using derivative instruments
NextEra Energy and FPL use derivative instruments (primarily swaps, options, futures and forwards) to manage the commodity price risk inherent in the purchase and sale of fuel and electricity, as well as interest rate and foreign currency exchange rate risk associated with long-term debt, and to optimize the value of NextEra Energy Resources' power generation assets.

With respect to commodities related to NextEra Energy's competitive energy business, NextEra Energy Resources employs rigorous risk management procedures in order to optimize the value of its power generation assets, provide full energy and capacity requirements services primarily to distribution utilities, and engage in power and gas marketing and trading activities to take advantage of expected future favorable price movements and changes in the expected volatility of prices in the energy markets.  These risk management activities involve the use of derivative instruments executed within prescribed limits to manage the risk associated with fluctuating commodity prices.  Transactions in derivative instruments are executed on recognized exchanges or via the over-the-counter markets, depending on the most favorable credit terms and market execution factors.  For NextEra Energy Resources' power generation assets, derivative instruments are used to hedge the commodity price risk associated with the fuel requirements of the assets, where applicable, as well as to hedge the expected energy output of these assets for the portion of the output that is not covered by long-term power purchase agreements (PPA).  These hedges protect NextEra Energy Resources against adverse changes in the wholesale forward commodity markets associated with its generation assets.  With regard to full energy and capacity requirements services, NextEra Energy Resources is required to vary the quantity of energy and related services based on the load demands of the customer served by the distribution utility.  For this type of transaction, derivative instruments are used to hedge the anticipated electricity quantities required to serve these customers and protect against unfavorable changes in the forward energy markets.  Additionally, NextEra Energy Resources takes positions in the energy markets based on differences between actual forward market levels and management's view of fundamental market conditions.  NextEra Energy Resources uses derivative instruments to realize value from these market dislocations, subject to strict risk management limits around market, operational and credit exposure.

Derivative instruments, when required to be marked to market, are recorded on NextEra Energy's and FPL's condensed consolidated balance sheets as either an asset or liability measured at fair value.  At FPL, substantially all changes in the derivatives' fair value are deferred as a regulatory asset or liability until the contracts are settled, and, upon settlement, any gains or losses are passed through the fuel and purchased power cost recovery clause (fuel clause) or the capacity cost recovery clause (capacity clause).  For NextEra Energy's non-rate regulated operations, predominantly NextEra Energy Resources, unless hedge accounting is applied, essentially all changes in the derivatives' fair value for power purchases and sales and trading activities are recognized on a net basis in operating revenues; fuel purchases and sales are recognized on a net basis in fuel, purchased power and interchange expense; and the equity method investees' related activity is recognized in equity in earnings of equity method investees in NextEra Energy's condensed consolidated statements of income.  Settlement gains and losses are included within the line items in the condensed consolidated statements of income to which they relate.

While most of NextEra Energy Resources' derivatives are entered into for the purpose of managing commodity price risk, and to reduce the impact of volatility in interest rates stemming from changes in variable interest rates on outstanding debt, hedge accounting is only applied where specific criteria are met and it is practicable to do so.  In order to apply hedge accounting, the transaction must be designated as a hedge and it must be highly effective in offsetting the hedged risk.  Additionally, for hedges of commodity price risk, physical delivery for forecasted commodity transactions must be probable.  NextEra Energy believes that, where offsetting positions exist at the same location for the same time, the transactions are considered to have been netted and therefore physical delivery has been deemed not to have occurred for financial reporting purposes.  Transactions for which physical delivery is deemed not to have occurred are presented on a net basis in the condensed consolidated statements of income.  Generally, NextEra Energy assesses a hedging instrument's effectiveness by using regression analysis for commodity contracts, and nonstatistical methods including dollar value comparisons of the change in the fair value of the derivative to the change in the fair value or cash flows of the hedged item for interest rate swaps and foreign currency derivative instruments.  Hedge effectiveness is tested at the inception of the hedge and on at least a quarterly basis throughout its life.  The effective portion of the gain or loss on a derivative instrument designated as a cash flow hedge is reported as a component of other comprehensive income (OCI) and is reclassified into earnings in the period(s) during which the transaction being hedged affects earnings.  See Note 6.  The ineffective portion of net unrealized gains (losses) on these hedges is reported in earnings in the current period.

In January 2010, NextEra Energy discontinued hedge accounting for its cash flow hedges related to commodity derivative instruments.  NextEra Energy continues to apply hedge accounting to certain interest rate and foreign currency hedges.  At June 30, 2010, NextEra Energy's accumulated other comprehensive income (AOCI) included amounts related to the discontinued commodity cash flow hedges which have expiration dates through December 2012.  Additionally, at June 30, 2010, NextEra Energy had interest rate cash flow hedges with expiration dates through January 2027 and a foreign currency cash flow hedge that expires in December 2011.
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Fair Value Measurements (Policies)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Valuation techniques used to measure the fair value of assets and liabilities.
NextEra Energy and FPL use several different valuation techniques to measure the fair value of assets and liabilities, relying primarily on the market approach of using prices and other market information for identical and/or comparable assets and liabilities for those assets and liabilities that are measured at fair value on a recurring basis.  NextEra Energy's and FPL's assessment of the significance of any particular input to the fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.

Cash Equivalents - Cash equivalents consist of short-term, highly liquid investments with original maturities of three months or less.  NextEra Energy and FPL primarily hold investments in money market funds.  The fair value of these funds is calculated using current market prices.

Special Use Funds and Other Investments - NextEra Energy and FPL hold primarily debt and equity securities directly as well as equity securities indirectly through commingled funds.  Substantially all equity securities are valued by the custodian at their quoted market prices.  Commingled funds, which are similar to mutual funds, are maintained by banks or investment companies and hold certain investments in accordance with a stated set of objectives.  The fair value of commingled funds is primarily derived from the quoted prices in active markets of the underlying securities.  Because the fund shares are offered to a limited group of investors, they are not considered to be traded in an active market.  For debt securities, the custodian obtains multiple prices and price types from pricing vendors whenever possible, which enables cross-provider validations.  A primary price source is identified by the custodian based on asset type, class or issue of each security.

Derivative Instruments - NextEra Energy and FPL measure the fair value of commodity contracts on a daily basis using prices observed on commodities exchanges and in the over-the-counter markets, or through the use of industry-standard valuation techniques, such as option modeling or discounted cash flows techniques, incorporating both observable and unobservable valuation inputs.  The resulting measurements are the best estimate of fair value as represented by the transfer of the asset or liability through an orderly transaction in the marketplace at the measurement date.  Non-performance risk is also considered in the determination of fair value for all derivative assets and liabilities, including the consideration of a credit valuation adjustment.

Exchange-traded derivative assets and liabilities are valued directly using unadjusted quoted prices.  For exchange-traded derivative assets and liabilities where the principal market is deemed to be inactive based on average daily volumes and open interest, the measurement is established using settlement prices from the exchanges, and therefore considered to be valued using significant other observable inputs.

NextEra Energy and FPL also enter into over-the-counter commodity contract derivatives.  The majority of these contracts are transacted at liquid trading points, and the prices for these contracts are verified using quoted prices in active markets from exchanges, brokers or pricing services for similar contracts.  In instances where the reference exchange markets are deemed to be inactive or do not have a similar contract that trades on an exchange, the derivative assets and liabilities may be valued using significant other observable inputs and potentially significant unobservable inputs.  In such instances, the valuation for these contracts is established using techniques including extrapolation from or interpolation between actively traded contracts, or estimated basis adjustments from liquid trading points.

NextEra Energy, through NextEra Energy Resources, also enters into load serving contracts, which, in many cases, meet the definition of derivatives and are measured at fair value.  These contracts typically have one or more inputs that are not observable and are significant to the valuation of the contract.  In addition, certain exchange and non-exchange traded derivative options at NextEra Energy have one or more significant inputs that are not observable, and are valued using industry-standard option models.

In all cases where NextEra Energy and FPL use significant unobservable inputs for the valuation of a commodity contract, consideration is given to the assumptions that market participants would use in valuing the asset or liability.  This includes, but is not limited to, assumptions about market liquidity, volatility and contract duration.

NextEra Energy uses interest rate and foreign currency swaps to mitigate and adjust interest rate and foreign currency exposure related to certain debt issuances.  NextEra Energy estimates the fair value of these derivatives using a discounted cash flows valuation technique based on the net amount of estimated future cash inflows and outflows related to the swap agreements.  Non-performance risk is also considered in the determination of fair value for all derivative assets and liabilities, including the consideration of a credit valuation adjustment.

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Variable Interest Entities (Policies)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Policy, Consolidation of Variable Interest Entities
Effective January 1, 2010, NextEra Energy and FPL adopted new accounting guidance which modified the consolidation model in previous guidance and expanded the disclosures related to variable interest entities (VIE).  An entity is considered to be a VIE when its total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support or its equity investors, as a group, lack the characteristics of having a controlling financial interest.  A reporting company is required to consolidate a VIE as its primary beneficiary when it has both the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.  Upon adoption of this new accounting guidance, neither NextEra Energy nor FPL was required to consolidate any additional VIEs or deconsolidate any VIEs.  As of June 30, 2010, NextEra Energy has six VIEs which it consolidates and has interests in certain other VIEs which it does not consolidate.

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Employee Retirement Benefits (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Net Periodic Benefit Cost [Text Block]
The components of net periodic benefit (income) cost for the plans are as follows:

   
Pension Benefits
  
Other Benefits
 
Pension Benefits
 
Other Benefits
 
   
Three Months Ended June 30,
 
Six Months Ended June 30,
 
   
2010
  
2009
  
2010
  
2009
 
2010
 
2009
 
2010
 
2009
 
            
(millions)
       
                      
Service cost
  $15   $13   $1   $2   $30   $26   $3   $2 
Interest cost
  25   27   6   6   51   55   11   12 
Expected return on plan assets
  (60 )  (60 )  (1 )  (1 )  (120 )  (119 )  (1 )  (1 )
Amortization of transition obligation
  -   -   1   1   -   -   2   2 
Amortization of prior service benefit
  (1 )  (1 )  -   -   (2 )  (2 )  -   - 
Amortization of gains
  -   (5 )  -   -   -   (12 )  -   - 
Net periodic benefit (income) cost at NextEra Energy
  $(21)  $(26)  $7   $8   $(41)  $(52)  $15   $15 
Net periodic benefit (income) cost at FPL
  $(14)  $(18)  $6   $6   $(28)  $(37)  $11   $11 

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Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Net Fair Values of Mark-to-Market Derivative Instrument assets (liabilities) Table
The net fair values of NextEra Energy's and FPL's mark-to-market derivative instrument assets (liabilities) are included in the condensed consolidated balance sheets as follows:

 
NextEra Energy
 
FPL
 
 
June 30,
2010
 
December 31,
2009
 
June 30,
2010
 
December 31,
2009
 
 
(millions)
 
                         
Current derivative assets(a)
 $
470
 
 $
357
 
 $
8
(b)
 $
10
(b)
Noncurrent other assets(c)
 
476
   
329
   
2
   
4
 
Current derivative liabilities(d)
 
(516
)
 
(221
)
 
(254
)
 
(77
)
Noncurrent derivative liabilities(e)
 
(320
)
 
(170
)
 
(28
)(f)
 
(1
)(f)
Total mark-to-market derivative instrument assets (liabilities)
 $
110
 
 $
295
 
 $
(272
)
 $
(64
)
____________________________________
 
(a)  
At June 30, 2010 and December 31, 2009, NextEra Energy's balances reflect the netting of  $14 million and  $4 million (none at FPL), respectively, in margin cash collateral received from counterparties.
(b)  
Included in current other assets on FPL's condensed consolidated balance sheets.
(c)  
At December 31, 2009, NextEra Energy's balances reflect the netting of  $1 million (none at FPL) in margin cash collateral received from counterparties.
(d)  
At June 30, 2010 and December 31, 2009, NextEra Energy's balances reflect the netting of  $74 million and  $75 million (none at FPL), respectively, in margin cash collateral provided to counterparties.
(e)
At June 30, 2010, NextEra Energy's balance reflects the netting of  $44 million (none at FPL) in margin cash collateral provided to counterparties.
(f)  
Included in noncurrent other liabilities on FPL's condensed consolidated balance sheets.

Fair Values of Derivatives Designated as Hedging Instruments Table
The fair values of NextEra Energy's derivatives designated as hedging instruments for accounting purposes are presented below as gross asset and liability values, as required by disclosure rules.  However, the majority of the underlying contracts are subject to master netting arrangements and would not be contractually settled on a gross basis.

   
June 30, 2010
  
December 31, 2009
 
   
Derivative
Assets
  
Derivative
Liabilities
  
Derivative
Assets
  
Derivative
Liabilities
 
   
(millions)
 
Commodity contracts:
            
Current derivative assets
  $-   $-   $54   $1 
Current derivative liabilities
  -   -   45   4 
Noncurrent other assets
  -   -   44   2 
Noncurrent derivative liabilities
  -   -   8   13 
Interest rate swaps:
                
Current derivative assets
  16   -   -   - 
Current derivative liabilities
  -   55   -   51 
Noncurrent other assets
  7   -   61   - 
Noncurrent derivative liabilities
  -   62   -   27 
Foreign currency swap:
                
Current derivative liabilities
  -   3   -   - 
Noncurrent other assets
  13   -   5   - 
Total
  $36   $120   $217   $98 

Gains (Losses) related to Cash Flow Hedges Table
Gains (losses) related to NextEra Energy's cash flow hedges are recorded on NextEra Energy's condensed consolidated financial statements (none at FPL) as follows:

 
Three Months Ended June 30,
 
 
2010
 
2009
 
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Foreign
Currency
Swap
 
Total
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Total
 
 
(millions)
 
                                           
Gains (losses) recognized in OCI
 $
-
 
 $
(72
)
 $
8
 
 $
(64
)
 $
5
 
 $
53
 
 $
58
 
Gains (losses) reclassified from AOCI to net income
 $
32
(a)
 $
(9
)(b)
 $
8
(c)
 $
31
 
 $
60
(a)
 $
(5
)(b)
 $
55
 
Gains (losses) recognized in income(d)
 $
-
 
 $
-
 
 $
-
 
 $
-
 
 $
(1
)(a)
 $
-
 
 $
(1
)
__________________________________

(a)  
Included in operating revenues.
(b)  
Included in interest expense.
(c)  
 $1 million loss is included in interest expense and the balance is included in other - net.
(d)  
Represents the ineffective portion of the hedging instrument.

 
Six Months Ended June 30,
 
2010
 
2009
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Foreign
Currency
Swap
 
Total
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Total
 
(millions)
                                         
Gains (losses) recognized in OCI
 $
19
 
 $
(106
)
 $
4
 
 $
(83
)
 $
157
 
 $
48
 
 $
205
Gains (losses) reclassified from AOCI to net income
 $
68
(a)
 $
(26
)(b)
 $
6
(c)
 $
48
 
 $
83
(a)
 $
(14
)(b)
 $
69
Gains (losses) recognized in income(d)
 $
1
(a)
 $
-
 
 $
-
 
 $
1
 
 $
9
(a)
 $
-
 
 $
9
__________________________________

(a)  
Included in operating revenues.
(b)  
Included in interest expense.
(c)  
 $1 million loss is included in interest expense and the balance is included in other - net.
(d)  
Represents the ineffective portion of the hedging instrument.

Fair Values of derivatives not designated as hedging instruments Table
The fair values of NextEra Energy's and FPL's derivatives not designated as hedging instruments for accounting purposes are presented below as gross asset and liability values, as required by disclosure rules.  However, the majority of the underlying contracts are subject to master netting arrangements and would not be contractually settled on a gross basis.

 
June 30, 2010
 
December 31, 2009
 
 
NextEra Energy
 
FPL
 
NextEra Energy
 
FPL
 
 
Derivative
Assets
 
Derivative
Liabilities
 
Derivative
Assets
 
Derivative
Liabilities
 
Derivative
Assets
 
Derivative
Liabilities
 
Derivative
Assets
 
Derivative
Liabilities
 
 
(millions)
 
Commodity contracts:
                                               
Current derivative assets
 $
705
 
 $
237
 
 $
8
(a)
 $
-
 
 $
611
 
 $
303
 
 $
11
(a)
 $
1
(a)
Current derivative liabilities
 
1,712
   
2,243
   
5
   
259
   
1,002
   
1,288
   
18
   
95
 
Noncurrent other assets
 
621
   
166
   
2
   
-
   
921
   
699
   
4
   
-
 
Noncurrent derivative liabilities
 
1,166
   
1,468
   
2
(b)
 
30
(b)
 
128
   
260
   
-
   
1
(b)
Foreign currency swap:
                                               
Current derivative liabilities
 
-
   
1
   
-
   
-
   
-
   
-
   
-
   
-
 
Noncurrent other assets
 
1
   
-
   
-
   
-
   
-
   
-
   
-
   
-
 
Noncurrent derivative liabilities
 
-
   
-
   
-
   
-
   
-
   
6
   
-
   
-
 
Total
 $
4,205
 
 $
4,115
 
 $
17
 
 $
289
 
 $
2,662
 
 $
2,556
 
 $
33
 
 $
97
 
__________________________________

(a)  
Included in current other assets on FPL's condensed consolidated balance sheets.
(b)  
Included in noncurrent other liabilities on FPL's condensed consolidated balance sheets.

Gains (losses) related to derivatives not designated as hedging instruments Table
Gains (losses) related to NextEra Energy's derivatives not designated as hedging instruments are recorded on NextEra Energy's condensed consolidated statements of income (none at FPL) as follows:

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2010
 
2009
 
2010
 
2009
 
 
(millions)
 
Commodity contracts:
                       
Operating revenues
 $
(9
)(a)
 $
20
(a)
 $
261
(a)
 $
132
(a)
Fuel, purchased power and interchange
 
27
   
1
   
94
   
28
 
Foreign currency swap:
                       
Other - net
 
7
   
4
   
5
   
(9
)
Total
 $
25
 
 $
25
 
 $
360
 
 $
151
 
__________________________________

(a)  
In addition, for the three and six months ended June 30, 2010, FPL recorded approximately  $63 million of gains and  $392 million of losses, respectively, related to commodity contracts as regulatory liabilities and regulatory assets, respectively, on its condensed consolidated balance sheets.  For the three and six months ended June 30, 2009, FPL recorded losses of approximately  $21 million and  $546 million, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets.

Net Notional Volumes Table
The following table represents net notional volumes associated with derivative instruments that are required to be reported at fair value in NextEra Energy's and FPL's condensed consolidated financial statements.  The table includes significant volumes of transactions that have minimal exposure to commodity price changes because they are variably priced agreements.  The table does not present a complete picture of NextEra Energy's and FPL's overall net economic exposure because NextEra Energy and FPL do not use derivative instruments to hedge all of their commodity exposures.  At June 30, 2010, NextEra Energy and FPL had derivative commodity contracts for the following net notional volumes:

Commodity Type
 
NextEra Energy
 
FPL
   
(millions)
         
Power
 
(30
) mwh(a)
 
-
Natural gas
 
608
  mmbtu(b)
 
782
 mmbtu(b)
Oil
 
1
  barrels
 
2
 barrels
__________________________________

(a)  
Megawatt-hours
(b)  
One million British thermal units

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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Financial Assets and Liabilities and Other Fair Value Measurements Table
NextEra Energy's and FPL's financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:

 
June 30, 2010
 
 
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Netting(a)
 
Total
 
 
(millions)
 
Assets:
                                           
Cash equivalents:
                                           
NextEra Energy - equity securities
 
 $
-
     
 $
361
     
 $
-
   
 $
-
   
 $
361
 
FPL - equity securities
 
 $
-
     
 $
154
     
 $
-
   
 $
-
   
 $
154
 
Special use funds:
                                           
NextEra Energy:
                                           
Equity securities
 
 $
573
     
 $
946
(b)
   
 $
-
   
 $
-
   
 $
1,519
 
U.S. Government and municipal bonds
 
 $
602
     
 $
102
     
 $
-
   
 $
-
   
 $
704
 
Corporate debt securities
 
 $
-
     
 $
430
     
 $
-
   
 $
-
   
 $
430
 
Mortgage-backed securities
 
 $
-
     
 $
560
     
 $
-
   
 $
-
   
 $
560
 
Other debt securities
 
 $
-
     
 $
96
     
 $
-
   
 $
-
   
 $
96
 
FPL:
                                           
Equity securities
 
 $
105
     
 $
825
(b)
   
 $
-
   
 $
-
   
 $
930
 
U.S. Government and municipal bonds
 
 $
515
     
 $
86
     
 $
-
   
 $
-
   
 $
601
 
Corporate debt securities
 
 $
-
     
 $
324
     
 $
-
   
 $
-
   
 $
324
 
Mortgage-backed securities
 
 $
-
     
 $
437
     
 $
-
   
 $
-
   
 $
437
 
Other debt securities
 
 $
-
     
 $
43
     
 $
-
   
 $
-
   
 $
43
 
Other investments:
                                           
NextEra Energy:
                                           
Equity securities
 
 $
2
     
 $
3
     
 $
-
   
 $
-
   
 $
5
 
U.S. Government and municipal bonds
 
 $
20
     
 $
-
     
 $
-
   
 $
-
   
 $
20
 
Corporate debt securities
 
 $
-
     
 $
32
     
 $
-
   
 $
-
   
 $
32
 
Mortgage-backed securities
 
 $
-
     
 $
48
     
 $
-
   
 $
-
   
 $
48
 
Other
 
 $
5
     
 $
12
     
 $
-
   
 $
-
   
 $
17
 
Derivatives:
                                           
NextEra Energy:
                                           
Commodity contracts
 
 $
1,751
     
 $
1,461
     
 $
994
   
 $
(3,297
)
 
 $
909
(c)
Interest rate swaps
 
 $
-
     
 $
23
     
 $
-
   
 $
-
   
 $
23
(c)
Foreign currency swaps
 
 $
-
     
 $
14
     
 $
-
   
 $
-
   
 $
14
(c)
FPL - commodity contracts
 
 $
-
     
 $
7
     
 $
10
   
 $
(7
)
 
 $
10
(c)
Liabilities:
                                           
Derivatives:
                                           
NextEra Energy:
                                           
Commodity contracts
 
 $
1,838
     
 $
1,631
     
 $
647
   
 $
(3,401
)
 
 $
715
(c)
Interest rate swaps
 
 $
-
     
 $
117
     
 $
-
   
 $
-
   
 $
117
(c)
Foreign currency swaps
 
 $
-
     
 $
4
     
 $
-
   
 $
-
   
 $
4
(c)
FPL - commodity contracts
 
 $
-
     
 $
286
     
 $
3
   
 $
(7
)
 
 $
282
(c)
__________________________________

(a)  
Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.
(b)  
At NextEra Energy, approximately  $869 million ( $787 million at FPL) are invested in commingled funds whose underlying investments would be Level 1 if those investments were held directly by NextEra Energy or FPL.
(c)  
See Note 2 for a reconciliation of net derivatives to NextEra Energy's and FPL's condensed consolidated balance sheets.

   
December 31, 2009
 
   
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Netting(a)
 
Total
 
   
(millions)
 
Assets:
                                             
Cash equivalents:
                                             
NextEra Energy - equity securities
   
 $
-
     
 $
79
     
 $
-
   
 $
-
   
 $
79
 
FPL - equity securities
   
 $
-
     
 $
43
     
 $
-
   
 $
-
   
 $
43
 
Special use funds:
                                             
NextEra Energy:
                                             
Equity securities
   
 $
657
     
 $
1,048
(b)
   
 $
-
   
 $
-
   
 $
1,705
 
U.S. Government and municipal bonds
   
 $
275
     
 $
299
     
 $
-
   
 $
-
   
 $
574
 
Corporate debt securities
   
 $
-
     
 $
452
     
 $
-
   
 $
-
   
 $
452
 
Mortgage-backed securities
   
 $
-
     
 $
618
     
 $
-
   
 $
-
   
 $
618
 
Other debt securities
   
 $
-
     
 $
41
     
 $
-
   
 $
-
   
 $
41
 
FPL:
                                             
Equity securities
   
 $
104
     
 $
920
(b)
   
 $
-
   
 $
-
   
 $
1,024
 
U.S. Government and municipal bonds
   
 $
230
     
 $
278
     
 $
-
   
 $
-
   
 $
508
 
Corporate debt securities
   
 $
-
     
 $
346
     
 $
-
   
 $
-
   
 $
346
 
Mortgage-backed securities
   
 $
-
     
 $
503
     
 $
-
   
 $
-
   
 $
503
 
Other debt securities
   
 $
-
     
 $
27
     
 $
-
   
 $
-
   
 $
27
 
Other investments:
                                             
NextEra Energy:
                                             
Equity securities
   
 $
3
     
 $
4
     
 $
-
   
 $
-
   
 $
7
 
U.S. Government and municipal bonds
   
 $
-
     
 $
38
     
 $
-
   
 $
-
   
 $
38
 
Corporate debt securities
   
 $
-
     
 $
35
     
 $
-
   
 $
-
   
 $
35
 
Mortgage-backed securities
   
 $
-
     
 $
31
     
 $
-
   
 $
-
   
 $
31
 
Other
   
 $
4
     
 $
-
     
 $
-
   
 $
-
   
 $
4
 
Derivatives:
                                             
NextEra Energy
   
 $
988
     
 $
1,089
     
 $
801
   
 $
(2,192
)
 
 $
686
(c)
FPL
   
 $
-
     
 $
20
     
 $
13
   
 $
(19
)
 
 $
14
(c)
Liabilities:
                                             
Derivatives:
                                             
NextEra Energy
   
 $
1,110
     
 $
1,106
     
 $
437
   
 $
(2,262
)
 
 $
391
(c)
FPL
   
 $
-
     
 $
95
     
 $
2
   
 $
(19
)
 
 $
78
(c)
__________________________________

(a)  
Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.
(b)  
At NextEra Energy, approximately  $918 million ( $836 million at FPL) are invested in commingled funds whose underlying investments would be Level 1 if those investments were held directly by NextEra Energy or FPL.
(c)  
See Note 2 for a reconciliation of net derivatives to NextEra Energy's and FPL's condensed consolidated balance sheets.

Reconciliation of Changes in the Fair Value of Derivatives Measured Based on Significant Unobservable Inputs Table
The reconciliation of changes in the fair value of derivatives that are based on significant unobservable inputs is as follows:

   
Three Months Ended June 30,
 
   
2010
  
2009
 
   
NextEra
Energy
  
FPL
  
NextEra
Energy
  
FPL
 
   
(millions)
 
              
Fair value of derivatives based on significant unobservable inputs at March 31
  $549   $10   $539   $5 
Realized and unrealized gains (losses):
                
Included in earnings(a)
  (110 )  -   47   - 
Included in regulatory assets and liabilities
  (1 )  (1 )  -   - 
Settlements and net option premiums
  (69 )  (2 )  (116 )  3 
Net transfers in/out(b)
  (22 )  -   15   - 
Fair value of net derivatives based on significant unobservable inputs at June 30
  $347   $7   $485   $8 
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)
  $(99)  $-   $49   $- 
__________________________________

(a)  
For the three months ended June 30, 2010 and 2009,  $(109) million and  $47 million, respectively, of realized and unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income.  For the three months ended June 30, 2010,  $(1) million of realized and unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.
(b)  
For the three months ended June 30, 2010, gross transfers of  $1 million into Level 3 were a result of decreased observability of market data, and gross transfers of  $23 million from Level 3 to Level 2 were a result of increased observability of market data.  NextEra Energy's and FPL's policy is to recognize all transfers at the beginning of the reporting period.
(c)  
For the three months ended June 30, 2010 and 2009,  $(98) million and  $49 million, respectively, of unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income.  For the three months ended June 30, 2010,  $(1) million of unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.

   
Six Months Ended June 30,
 
   
2010
  
2009
 
   
NextEra
Energy
  
FPL
  
NextEra
Energy
  
FPL
 
   
(millions)
 
              
Fair value of net derivatives based on significant unobservable inputs at December 31 of prior year
  $364   $11   $404   $(1)
Realized and unrealized gains (losses):
                
Included in earnings(a)
  350   -   385   - 
Included in regulatory assets and liabilities
  (1 )  (1 )  5   5 
Settlements and net option premiums
  (338 )  (3 )  (246 )  5 
Net transfers in/out(b)
  (28 )  -   (63 )  (1 )
Fair value of net derivatives based on significant unobservable inputs at June 30
  $347   $7   $485   $8 
The amount of gains for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date(c)
  $237   $-   $321   $1 
__________________________________

(a)  
For the six months ended June 30, 2010 and 2009,  $343 million and  $385 million, respectively, of realized and unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income.  For the six months ended June 30, 2010,  $7 million of realized and unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.
(b)  
For the six months ended June 30, 2010, gross transfers of  $2 million into Level 3 were a result of decreased observability of market data, and gross transfers of  $30 million from Level 3 to Level 2 were a result of increased observability of market data.  NextEra Energy's and FPL's policy is to recognize all transfers at the beginning of the reporting period.
(c)  
For the six months ended June 30, 2010 and 2009,  $233 million and  $321 million, respectively, of unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income.  For the six months ended June 30, 2010,  $4 million of unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.

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Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Estimates of the Fair Value of Financial Instruments Table
The following estimates of the fair value of financial instruments have been made primarily using available market information.  However, the use of different market assumptions or methods of valuation could result in different estimated fair values.

 
June 30, 2010
 
December 31, 2009
 
 
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
 
 
(millions)
 
NextEra Energy:
                       
Special use funds
 $
3,372
(a)
 $
3,372
(b)
 $
3,390
(a)
 $
3,390
(b)
Other investments:
                       
Notes receivable
 $
530
 
 $
553
(c)
 $
534
 
 $
556
(c)
Debt securities
 $
112
(d)
 $
112
(b)
 $
104
(d)
 $
104
(b)
Equity securities
 $
52
 
 $
120
(e)
 $
45
 
 $
105
(e)
Long-term debt, including current maturities
 $
18,227
 
 $
19,193
(f)
 $
16,869
 
 $
17,256
(f)
Interest rate swaps - net unrealized losses
 $
(94
)
 $
(94
)(g)
 $
(17
)
 $
(17
)(g)
Foreign currency swaps - net unrealized gains (losses)
 $
10
 
 $
10
(g)
 $
(1
)
 $
(1
)(g)
                         
FPL:
                       
Special use funds
 $
2,413
(a)
 $
2,413
(b)
 $
2,408
(a)
 $
2,408
(b)
Long-term debt, including current maturities
 $
6,335
 
 $
6,988
(f)
 $
5,836
 
 $
6,055
(f)
__________________________________

(a)  
At June 30, 2010, includes  $8 million of cash,  $50 million of investments accounted for under the equity method and  $5 million of loans not measured at fair value on a recurring basis (none,  $75 million and  $3 million, respectively, for FPL).  For the remaining balance, see Note 3 for classification by major security type.  The amortized cost of debt and equity securities is  $1,735 million and  $1,327 million, respectively, at June 30, 2010 and  $1,638 million and  $1,396 million, respectively, at December 31, 2009 ( $1,353 million and  $843 million, respectively, at June 30, 2010 and  $1,344 million and  $873 million, respectively, at December 31, 2009 for FPL).
(b)  
Based on quoted market prices for these or similar issues.
(c)  
Classified as held to maturity.  Based on market prices provided by external sources.  Notes receivable bear interest at variable rates based on an underlying index plus a margin and mature from 2014 to 2029.
(d)  
Classified as trading securities.
(e)  
Modeled internally based on latest market data.
(f)  
Provided by external sources based on market prices indicative of market conditions.
(g)  
Modeled internally based on market values using discounted cash flow analysis and credit valuation adjustment.

Realized Gains and Losses and Proceeds from the Sale of Available for Sale Securities Table
The approximate realized gains and losses and proceeds from the sale of available for sale securities are as follows:

 
Three Months Ended
June 30,
 
Six Months Ended
June 30, 2010
 
 
2010
 
2009
   
 
NextEra
Energy
 
FPL
 
NextEra
Energy
 
FPL
 
NextEra
Energy
 
FPL
 
 
(millions)
 
                    
Realized gains
  $17   $7   $10   $5   $62   $31 
Realized losses
  $4   $3   $12   $11   $14   $11 
Proceeds from sale of securities
  $1,163   $817   $835   $682   $3,063   $2,425 

Total Unrealized Gains on Available for Sale Securities Table
The unrealized gains on available for sale securities are as follows:

   
June 30, 2010
  
December 31, 2009
 
   
NextEra
Energy
  
FPL
  
NextEra
Energy
  
FPL
 
   
(millions)
 
              
Equity securities
  $286   $180   $400   $240 
U.S. Government and municipal bonds
  $26   $23   $14   $13 
Corporate debt securities
  $24   $19   $21   $16 
Mortgage-backed securities
  $27   $22   $22   $18 
Other debt securities
  $3   $2   $1   $1 

Total Unrealized Losses on Available For Sale Debt Securities and Fair Value of Available For Sale Debt Securities in an Unrealized Loss Position Table
The total 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:

 
June 30, 2010
  
December 31, 2009
 
 
NextEra Energy(a)
 
FPL(a)
  
NextEra Energy(a)
  
FPL(a)
 
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
  
Unrealized
Losses
  
Fair
Value
  
Unrealized
Losses
  
Fair
Value
 
 
(millions)
 
                          
U.S. Government and municipal bonds
  $-   $21   $-   $17   $6   $255   $5   $207 
Corporate debt securities
  $1   $48   $1   $35   $2   $104   $1   $84 
Mortgage-backed securities
  $1   $13   $1   $9   $4   $225   $3   $184 
Other debt securities
  $-   $13   $-   $8   $-   $10   $-   $8 
__________________________________

(a)  
At June 30, 2010 and December 31, 2009, NextEra Energy had 10 securities and 47 securities, respectively, in an unrealized loss position for greater than twelve months, including 1 security and 18 securities, respectively, for FPL.  The total unrealized loss on these securities was less than  $1 million and approximately  $3 million, respectively, and the fair value was approximately  $4 million and  $37 million, respectively, for NextEra Energy, including less than  $1 million and approximately  $2 million, respectively, of unrealized losses with a fair value of approximately  $1 million and  $25 million, respectively, for FPL.  Consistent with regulatory treatment for FPL, marketable securities held in special use funds are classified as available for sale and are carried at market value with market adjustments, including any other than temporary impairment losses, resulting in a corresponding adjustment to the related regulatory liability accounts.

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Comprehensive Income (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Components Of Comprehensive Income [Text Block]
NextEra Energy's comprehensive income is as follows:

   
Three Months Ended
June 30,
 
   
2010
  
2009
 
   
(millions)
 
        
Net income of NextEra Energy
  $417   $370 
Net unrealized gains (losses) on cash flow hedges:
        
Effective portion of net unrealized gains (losses) (net of  $24 tax benefit and  $23 tax expense, respectively)
  (40 )  35 
Reclassification from AOCI to net income (net of  $13 and  $23 tax benefit, respectively)
  (18 )  (32 )
Net unrealized gains (losses) on available for sale securities:
        
Net unrealized gains (losses) on securities still held (net of  $22 tax benefit and  $36 tax expense, respectively)
  (32 )  50 
Reclassification from AOCI to net income (net of  $4 and  $1 tax benefit, respectively)
  (5 )  (1 )
Defined benefit pension and other benefits plans (net of  $1 tax benefit)
  -   (1 )
Net unrealized gains (losses) on foreign currency translation (net of  $6 tax benefit and  $3 tax expense, respectively)
  (12 )  6 
Comprehensive income of NextEra Energy
  $310   $427 

   
Six Months Ended
June 30,
 
   
2010
  
2009
 
   
(millions)
 
        
Net income of NextEra Energy
  $973   $734 
Net unrealized gains (losses) on cash flow hedges:
        
Effective portion of net unrealized gains (losses) (net of  $30 tax benefit and  $83 tax expense, respectively)
  (52 )  122 
Reclassification from AOCI to net income (net of  $21 and  $27 tax benefit, respectively)
  (27 )  (38 )
Net unrealized gains (losses) on available for sale securities:
        
Net unrealized gains (losses) on securities still held (net of  $6 tax benefit and  $36 tax expense, respectively)
  (13 )  51 
Reclassification from AOCI to net income (net of  $11 and  $3 tax benefit, respectively)
  (14 )  (4 )
Defined benefit pension and other benefits plans (net of  $1 tax benefit)
  -   (2 )
Net unrealized gains (losses) on foreign currency translation (net of  $7 tax benefit and  $2 tax expense, respectively)
  (14 )  3 
Comprehensive income of NextEra Energy
  $853   $866 

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Common Stock (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Common Stock
Earnings Per Share - The reconciliation of NextEra Energy's basic and diluted earnings per share of common stock is as follows:

   
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
   
2010
  
2009
  
2010
  
2009
 
   
(millions, except per share amounts)
 
              
Numerator - net income
  $417   $370   $973   $734 
                  
Denominator:
                
Weighted-average number of common shares outstanding - basic
  408.9   403.7   408.2   403.0 
Restricted stock, performance share awards, options, warrants and equity units(a)
  2.5   2.7   2.5   2.6 
Weighted-average number of common shares outstanding - assuming dilution
  411.4   406.4   410.7   405.6 
                  
Earnings per share of common stock:
                
Basic
  $1.02   $0.92   $2.38   $1.82 
Assuming dilution
  $1.01   $0.91   $2.37   $1.81 
__________________________________

(a)  
Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.  Restricted stock, performance share awards, options, warrants and equity units are included in diluted weighted-average number of common shares outstanding by applying the treasury stock method.

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Debt (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Debt Issuances and Borrowings by Subsidiaries Table
As of June 30, 2010, long-term debt issuances and borrowings by subsidiaries of NextEra Energy during 2010 were as follows:

Date Issued
 
Company
 
Debt Issued
 
Interest
Rate
 
Principal
Amount
 
Maturity
Date
 
               
(millions)
     
                       
February 2010
 
FPL
 
First mortgage bonds
 
5.69%
   
 $
500
   
2040
 
March 2010
 
NextEra Energy Resources subsidiary
 
Senior secured limited recourse notes
 
6.56%
   
 $
305
   
2030
 
April 2010
 
FPL Group Capital
 
Term loan
 
Variable
(a)
 
 $
100
   
2013
 
April 2010
 
FPL Group Capital
 
Term loan
 
Variable
(a)
 
 $
100
   
2013
 
April 2010
 
NextEra Energy Resources subsidiary
 
Senior secured limited recourse notes
 
Variable
(a)(b)
 
 $
255
   
2027
 
May 2010
 
FPL Group Capital
 
Debentures
 
2.55%
(b)
 
 $
250
   
2013
 
June 2010
 
NextEra Energy Resources subsidiary
 
Limited recourse term loan
 
Variable
(a)
 
 $
78
   
2015
 
__________________________________

(a)  
Variable rate is based on an underlying index plus a margin.
(b)
Interest rate swap agreements were entered into with respect to these issuances.

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Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Schedule of Planned Capital Expenditures
At June 30, 2010, estimated planned capital expenditures for the remainder of 2010 through 2014 were as follows:

   
2010
  
2011
  
2012
  
2013
  
2014
  
Total
 
   
(millions)
 
FPL:
                  
Generation:(a)
                  
New(b)(c)
  $550   $1,390   $1,790   $500   $110   $4,340 
Existing
  235   545   490   490   465   2,225 
Transmission and distribution
  290   600   695   710   545   2,840 
Nuclear fuel
  60   200   175   250   205   890 
General and other
  70   100   120   60   125   475 
Total
  $1,205   $2,835   $3,270   $2,010   $1,450   $10,770 
                          
NextEra Energy Resources:
                        
Wind(d)
  $355   $45   $10   $10   $5   $425 
Nuclear(e)
  270   445   315   255   240   1,525 
Solar(f)
  105   530   345   80   -   1,060 
Natural gas
  20   75   70   45   20   230 
Other(g)
  50   90   60   45   50   295 
Total
  $800   $1,185   $800   $435   $315   $3,535 
                          
Corporate and Other(h)
  $20   $55   $30   $30   $25   $160 
__________________________________

(a)  
Includes allowance for funds used during construction (AFUDC) of approximately  $28 million,  $47 million,  $80 million,  $86 million and  $31 million in 2010 to 2014, respectively.
(b)  
Includes land, generating structures, transmission interconnection and integration and licensing.
(c)  
Includes projects that have received FPSC approval.  Includes pre-construction costs and carrying charges (equal to a pretax AFUDC rate) on construction costs recoverable through the capacity clause of approximately  $50 million,  $79 million,  $67 million and  $24 million in 2010 to 2013, respectively.  Excludes capital expenditures for the construction costs for the two additional nuclear units at FPL's Turkey Point site beyond what is required to receive an NRC license for each unit.
(d)  
Consists of capital expenditures for planned new wind projects that have received applicable internal approvals, and related transmission.  NextEra Energy Resources plans to add new wind generation of approximately 3,500 mw to 5,000 mw in 2010 through 2014, including 600 mw to 850 mw in 2010, at a total cost of approximately  $7 billion to  $10 billion.
(e)  
Includes nuclear fuel.
(f)
Consists of capital expenditures for planned new solar projects that have received applicable internal approvals.  NextEra Energy Resources plans to add new solar generation of approximately 400 mw to 600 mw in 2010 through 2014 at a total cost of approximately  $3 billion to  $4 billion.
(g)
Consists of capital expenditures that have received applicable internal approvals.  NextEra Energy Resources plans to add natural gas infrastructure projects totaling approximately  $400 million to  $600 million in 2010 through 2014.
(h)
Consists of capital expenditures that have received applicable internal approvals.  Excludes capital expenditures for a transmission line in Texas totaling approximately  $800 million by 2014.

Required Capacity and/or Minimum Payment Table
The required capacity and/or minimum payments under the contracts discussed above as of June 30, 2010 were estimated as follows:

   
2010
  
2011
  
2012
  
2013
  
2014
  
Thereafter
 
FPL:
 
(millions)
 
Capacity payments:(a)
                  
JEA and Southern subsidiaries
  $100   $210   $210   $200   $180   $350 
Qualifying facilities
  $150   $270   $290   $270   $270   $2,890 
Other electricity suppliers
  $5   $10   $5   $-   $-   $- 
Minimum payments, at projected prices:
                        
Natural gas, including transportation and storage(b)
  $1,120   $1,495   $615   $405   $395   $4,475 
Oil(b)
  $-   $120   $-   $-   $-   $- 
Coal(b)
  $40   $60   $10   $-   $-   $- 
                          
NextEra Energy Resources(c)
  $860   $335   $240   $80   $65   $765 
__________________________________

(a)  
Capacity payments under these contracts, substantially all of which are recoverable through the capacity clause, totaled approximately  $137 million and  $154 million for the three months ended June 30, 2010 and 2009, respectively, and approximately  $286 million and  $307 million for the six months ended June 30, 2010 and 2009, respectively.  Energy payments under these contracts, which are recoverable through the fuel clause, totaled approximately  $114 million and  $108 million for the three months ended June 30, 2010 and 2009, respectively, and approximately  $213 million and  $204 million for the six months ended June 30, 2010 and 2009, respectively.
(b)  
Recoverable through the fuel clause.
(c)  
Includes termination payments associated with wind turbine contracts for projects that have not yet received applicable internal approvals.

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Segment Information (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Segment Information
NextEra Energy's reportable segments include FPL, a rate-regulated utility, and NextEra Energy Resources, a competitive energy business.  Beginning in 2010, NextEra Energy Resources' financial statements include non-utility interest expense on a deemed capital structure of 70% debt and allocated shared service costs.  These changes were made to reflect an expected average capital structure at FPL Group Capital and more accurately reflect NextEra Energy Resources' operating costs.  Corporate and Other represents other business activities, other segments that are not separately reportable and eliminating entries.  NextEra Energy's segment information is as follows:

 
Three Months Ended June 30,
 
2010
 
2009
 
FPL
 
NextEra
Energy
Resources(a)
 
Corporate
& Other
 
NextEra
Energy
Consoli-
dated
 
FPL
 
NextEra
Energy
Resources(a)(c)
 
Corporate
& Other(c)
 
NextEra
Energy
Consoli-
dated
                       
(millions)
                         
                                                           
Operating revenues
 $
2,580
   
 $
965
   
 $
46
 
 $
3,591
 
 $
2,864
   
 $
911
     
 $
36
   
 $
3,811
Operating expenses
 $
2,079
   
 $
767
   
 $
36
 
 $
2,882
 
 $
2,468
   
 $
710
     
 $
28
   
 $
3,206
Net income (loss)(b)
 $
265
   
 $
154
   
 $
(2
)
 $
417
 
 $
213
   
 $
163
     
 $
(6
)
 
 $
370

 
Six Months Ended June 30,
 
2010
 
2009
 
FPL
 
NextEra
Energy
Resources(a)
 
Corporate
& Other
 
NextEra
Energy
Consoli-
dated
 
FPL
 
NextEra
Energy
Resources(a)(c)
 
Corporate
& Other(c)
 
NextEra
Energy
Consoli-
dated
                       
(millions)
                        
                                                           
Operating revenues
 $
4,908
   
 $
2,212
   
 $
93
 
 $
7,213
 
 $
5,437
   
 $
2,000
     
 $
78
   
 $
7,515
Operating expenses
 $
4,014
   
 $
1,478
   
 $
73
 
 $
5,565
 
 $
4,779
   
 $
1,486
     
 $
62
   
 $
6,327
Net income (loss)(b)
 $
456
   
 $
521
   
 $
(4
)
 $
973
 
 $
340
   
 $
391
     
 $
3
   
 $
734

 
June 30, 2010
 
December 31, 2009
 
FPL
 
NextEra
Energy
Resources
 
Corporate
& Other
 
NextEra
Energy
Consoli-
dated
 
FPL
 
NextEra
Energy
Resources
 
Corporate
& Other
 
NextEra
Energy
Consoli-
dated
                       
(millions)
                         
                                                           
Total assets
 $
28,414
   
 $
20,999
   
 $
1,796
 
 $
51,209
 
 $
26,812
   
 $
20,136
     
 $
1,510
   
 $
48,458
__________________________________

(a)  
NextEra Energy Resources' interest expense is based on a deemed capital structure of 70% debt.  For this purpose, the deferred credit associated with differential membership interests sold by NextEra Energy Resources subsidiaries is included with debt.  Residual non-utility interest expense is included in Corporate and Other.
(b)  
See Note 5 for a discussion of NextEra Energy Resources' tax benefits related to PTCs.
(c)  
Segment information restated for the changes listed above.

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Summarized Financial Information of FPL Group Capital (Tables)
6 Months Ended
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Condensed Consolidating Statements
FPL Group Capital, a 100% owned subsidiary of NextEra Energy, provides funding for, and holds ownership interests in, NextEra Energy's operating subsidiaries other than FPL.  Most of FPL Group Capital's debt, including its debentures, and payment guarantees are fully and unconditionally guaranteed by NextEra Energy.  Condensed consolidating financial information is as follows:

Condensed Consolidating Statements of Income

   
Three Months Ended June 30,
 
   
2010
  
2009
 
   
NextEra
Energy
(Guarantor)
  
FPL
Group
Capital
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guarantor)
  
FPL
Group
Capital
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
            
(millions)
          
                          
Operating revenues
  $-   $1,013   $2,578   $3,591   $-   $949   $2,862   $3,811 
Operating expenses
  (2 )  (804 )  (2,076 )  (2,882 )  (1 )  (740 )  (2,465 )  (3,206 )
Interest expense
  (4 )  (156 )  (87 )  (247 )  (4 )  (136 )  (75 )  (215 )
Other income (deductions) - net
  427   20   (415 )  32   382   40   (371 )  51 
Income (loss) before income taxes
  421   73   -   494   377   113   (49 )  441 
Income tax expense (benefit)
  4   (79 )  152   77   7   (54 )  118   71 
Net income (loss)
  $417   $152   $(152)  $417   $370   $167   $(167)  $370 
__________________________________

(a)  
Represents FPL and consolidating adjustments.

   
Six Months Ended June 30,
 
   
2010
  
2009
 
   
NextEra
Energy
(Guarantor)
  
FPL
Group
Capital
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guarantor)
  
FPL
Group
Capital
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
            
(millions)
          
                          
Operating revenues
  $-   $2,310   $4,903   $7,213   $-   $2,084   $5,431   $7,515 
Operating expenses
  (2 )  (1,554 )  (4,009 )  (5,565 )  (1 )  (1,553 )  (4,773 )  (6,327 )
Interest expense
  (8 )  (307 )  (170 )  (485 )  (8 )  (270 )  (148 )  (426 )
Other income (deductions) - net
  989   86   (974 )  101   756   31   (725 )  62 
Income (loss) before income taxes
  979   535   (250 )  1,264   747   292   (215 )  824 
Income tax expense (benefit)
  6   11   274   291   13   (112 )  189   90 
Net income (loss)
  $973   $524   $(524)  $973   $734   $404   $(404)  $734 
__________________________________

(a)  
Represents FPL and consolidating adjustments.

Condensed Consolidating Balance Sheets

 
June 30, 2010
 
December 31, 2009
 
 
NextEra
Energy
(Guaran-
tor)
 
FPL
Group
Capital
 
Other(a)
 
NextEra
Energy
Consoli-
dated
 
NextEra
Energy
(Guaran-
tor)
 
FPL
Group
Capital
 
Other(a)
 
NextEra
Energy
Consoli-
dated
 
                   
(millions)
                   
PROPERTY, PLANT AND EQUIPMENT
                                               
Electric utility plant in service and other property
 $
19
 
 $
20,278
 
 $
31,883
 
 $
52,180
 
 $
2
 
 $
19,185
 
 $
30,982
 
 $
50,169
 
Less accumulated depreciation and amortization
 
-
   
(3,842
)
 
(10,760
)
 
(14,602
)
 
-
   
(3,513
)
 
(10,578
)
 
(14,091
)
Total property, plant and equipment - net
 
19
   
16,436
   
21,123
   
37,578
   
2
   
15,672
   
20,404
   
36,078
 
CURRENT ASSETS
                                               
Cash and cash equivalents
 
-
   
450
   
379
   
829
   
-
   
156
   
82
   
238
 
Receivables
 
667
   
869
   
489
   
2,025
   
453
   
1,247
   
547
   
2,247
 
Other
 
111
   
1,493
   
841
   
2,445
   
4
   
1,258
   
590
   
1,852
 
Total current assets
 
778
   
2,812
   
1,709
   
5,299
   
457
   
2,661
   
1,219
   
4,337
 
OTHER ASSETS
                                               
Investment in subsidiaries
 
13,299
   
-
   
(13,299
)
 
-
   
12,785
   
-
   
(12,785
)
 
-
 
Other
 
378
   
3,507
   
4,447
   
8,332
   
557
   
3,257
   
4,229
   
8,043
 
Total other assets
 
13,677
   
3,507
   
(8,852
)
 
8,332
   
13,342
   
3,257
   
(8,556
)
 
8,043
 
TOTAL ASSETS
 $
14,474
 
 $
22,755
 
 $
13,980
 
 $
51,209
 
 $
13,801
 
 $
21,590
 
 $
13,067
 
 $
48,458
 
                                                 
CAPITALIZATION
                                               
Common shareholders' equity
 $
13,529
 
 $
4,272
 
 $
(4,272
)
 $
13,529
 
 $
12,967
 
 $
4,349
 
 $
(4,349
)
 $
12,967
 
Long-term debt
 
-
   
10,879
   
6,292
   
17,171
   
-
   
10,506
   
5,794
   
16,300
 
Total capitalization
 
13,529
   
15,151
   
2,020
   
30,700
   
12,967
   
14,855
   
1,445
   
29,267
 
CURRENT LIABILITIES
                                               
Debt due within one year
 
-
   
2,090
   
932
   
3,022
   
-
   
1,729
   
860
   
2,589
 
Accounts payable
 
6
   
438
   
872
   
1,316
   
-
   
453
   
539
   
992
 
Other
 
471
   
1,212
   
1,105
   
2,788
   
417
   
1,170
   
1,281
   
2,868
 
Total current liabilities
 
477
   
3,740
   
2,909
   
7,126
   
417
   
3,352
   
2,680
   
6,449
 
OTHER LIABILITIES AND DEFERRED CREDITS
                                               
Asset retirement obligations
 
-
   
566
   
1,881
   
2,447
   
-
   
585
   
1,833
   
2,418
 
Accumulated deferred income taxes
 
149
   
1,512
   
3,581
   
5,242
   
94
   
1,318
   
3,448
   
4,860
 
Regulatory liabilities
 
15
   
-
   
3,110
   
3,125
   
16
   
-
   
3,166
   
3,182
 
Other
 
304
   
1,786
   
479
   
2,569
   
307
   
1,480
   
495
   
2,282
 
Total other liabilities and deferred credits
 
468
   
3,864
   
9,051
   
13,383
   
417
   
3,383
   
8,942
   
12,742
 
COMMITMENTS AND CONTINGENCIES
                                               
TOTAL CAPITALIZATION AND LIABILITIES
 $
14,474
 
 $
22,755
 
 $
13,980
 
 $
51,209
 
 $
13,801
 
 $
21,590
 
 $
13,067
 
 $
48,458
 
__________________________________

(a)  
Represents FPL and consolidating adjustments.

Condensed Consolidating Statements of Cash Flows

   
Six Months Ended June 30,
 
   
2010
 
2009
 
   
NextEra
Energy
(Guaran-
tor)
 
 
FPL
Group
Capital
 
 
 
 
Other(a)
 
NextEra
Energy
Consoli-
dated
 
NextEra
Energy
(Guaran-
tor)
 
 
FPL
Group
Capital
 
 
 
 
Other(a)
 
NextEra
Energy
Consoli-
dated
 
                     
(millions)
                   
                                                   
NET CASH PROVIDED BY OPERATING ACTIVITIES
 
 $
487
 
 $
723
 
 $
538
 
 $
1,748
 
 $
361
 
 $
833
 
 $
950
 
 $
2,144
 
                                                   
CASH FLOWS FROM INVESTING ACTIVITIES
                                                 
Capital expenditures, independent power and other investments and nuclear fuel purchases
   
-
   
(1,271
)
 
(1,486
)
 
(2,757
)
 
-
   
(1,196
)
 
(1,249
)
 
(2,445
)
Capital contribution to FPL
   
(135
)
 
-
   
135
   
-
   
-
   
-
   
-
   
-
 
Cash grants under the Recovery Act
   
-
   
426
   
85
   
511
   
-
   
-
   
-
   
-
 
Other - net
   
-
   
(15
)
 
(22
)
 
(37
)
 
(53
)
 
(28
)
 
105
   
24
 
Net cash used in investing activities
   
(135
)
 
(860
)
 
(1,288
)
 
(2,283
)
 
(53
)
 
(1,224
)
 
(1,144
)
 
(2,421
)
                                                   
CASH FLOWS FROM FINANCING ACTIVITIES
                                                 
Issuances of long-term debt
   
-
   
1,071
   
514
   
1,585
   
-
   
1,879
   
493
   
2,372
 
Retirements of long-term debt
   
-
   
(247
)
 
(22
)
 
(269
)
 
-
   
(1,069
)
 
(245
)
 
(1,314
)
Sale of differential membership interests
   
-
   
190
   
-
   
190
   
-
   
-
   
-
   
-
 
Net change in short-term debt
   
-
   
(125
)
 
71
   
(54
)
 
-
   
(718
)
 
(25
)
 
(743
)
Issuances of common stock
   
69
   
-
   
-
   
69
   
83
   
-
   
-
   
83
 
Dividends on common stock
   
(410
)
 
-
   
-
   
(410
)
 
(382
)
 
-
   
-
   
(382
)
Other - net
   
(11
)
 
(458
)
 
484
   
15
   
(9
)
 
62
   
(51
)
 
2
 
Net cash provided by (used in) financing activities
   
(352
)
 
431
   
1,047
   
1,126
   
(308
)
 
154
   
172
   
18
 
                                                   
Net increase (decrease) in cash and cash equivalents
   
-
   
294
   
297
   
591
   
-
   
(237
)
 
(22
)
 
(259
)
Cash and cash equivalents at beginning of period
   
-
   
156
   
82
   
238
   
-
   
414
   
121
   
535
 
Cash and cash equivalents at end of period
 
 $
-
 
 $
450
 
 $
379
 
 $
829
 
 $
-
 
 $
177
 
 $
99
 
 $
276
 
__________________________________

(a)  
Represents FPL and consolidating adjustments.

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Employee Retirement Benefits (Details) (USD  $)
In Millions
3 Months Ended 6 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Pension Benefits
Net Periodic Benefit Cost [Line Items]
Service Cost  $ 15  $ 13  $ 30  $ 26
Interest Cost 25 27 51 55
Expected return on plan assets (60) (60) (120) (119)
Amortization of transition obligation 0 0 0 0
Amortization of prior service benefit (1) (1) (2) (2)
Amortization of gains 0 (5) 0 (12)
Net periodic benefit (income) cost (21) (26) (41) (52)
Other Benefits
Net Periodic Benefit Cost [Line Items]
Service Cost 1 2 3 2
Interest Cost 6 6 11 12
Expected return on plan assets (1) (1) (1) (1)
Amortization of transition obligation 1 1 2 2
Amortization of prior service benefit 0 0 0 0
Amortization of gains 0 0 0 0
Net periodic benefit (income) cost  $ 7  $ 8  $ 15  $ 15
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Derivative Instruments (Details) (USD  $)
3 Months Ended 6 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Dec. 31, 2009
Schedule Of Net Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Current derivative assets  $ 470,000,000 [1]  $ 470,000,000 [1]  $ 357,000,000 [1]
Noncurrent other assets 476,000,000 [2] 476,000,000 [2] 329,000,000 [2]
Current derivative liabilities (516,000,000) (516,000,000) (221,000,000)
Noncurrent derivative liabilities (320,000,000) (320,000,000) (170,000,000)
Total mark-to-market derivative instrument assets (liabilities) 110,000,000 110,000,000 295,000,000
Margin cash collateral received from counterparties - netted against current derivative assets 14,000,000 14,000,000 4,000,000
Margin cash collateral received from counterparties - netted against noncurrent derivative assets 1,000,000
Margin cash collateral provided to counterparties - netted against current derivative liabilities 74,000,000 74,000,000 75,000,000
Margin cash collateral provided to counterparties - netted against Noncurrent derivative liabilities 44,000,000 44,000,000
Margin cash collateral received from counterparties that was not offset against derivative assets 13,000,000 13,000,000 18,000,000
Margin cash collateral provided to counterparties that was not offset against derivative liabilities 66,000,000 66,000,000 95,000,000
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 36,000,000 36,000,000 217,000,000
Fair Values of Derivative Liabilities Designated as Hedging Instruments 120,000,000 120,000,000 98,000,000
Schedule Of Cash Flow Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Gains (losses) recognized in OCI (64,000,000) 58,000,000 (83,000,000) 205,000,000
Gains (losses) reclassified from accumulated other comprehensive income (AOCI) to net income 31,000,000 55,000,000 48,000,000 69,000,000
Gains (losses) recognized in income due to hedge ineffectiveness 0 [3] (1,000,000) [3] 1,000,000 [3] 9,000,000 [3]
Schedule Of Derivative Instruments Not Designated As Hedging Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Not Designated as Hedging Instruments 4,205,000,000 4,205,000,000 2,662,000,000
Fair Values of Derivative Liabilities Not Designated as Hedging Instruments 4,115,000,000 4,115,000,000 2,556,000,000
Schedule Of Derivative Instruments Not Designated As Hedging Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Gain (losses) related to derivatives not designated as hedging instruments 25,000,000 25,000,000 360,000,000 151,000,000
Gains (losses) on commodity contracts, recorded as regulatory assets and or liabilities on the balance sheet due to regulatory treatment 63,000,000 [4] (21,000,000) (392,000,000) (546,000,000)
Schedule Of Net Notional Volume Of Commodity Derivative Instruments [Line Items]
Number of interest rate swaps 17 17
Net notional amount of interest rate swaps 2,700,000,000 2,700,000,000
Number of foreign currency swaps 2 2
Net notional amount of foreign currency swaps 290,000,000 290,000,000
Fair Value of derivative instruments with credit-risk-related contingent features that were in a liability position 1,600,000,000 1,600,000,000
Total required posted collateral should FPL Group Capital or FPL's credit ratings fall to BBB 450,000,000 450,000,000
Total required posted collateral should FPL Group Capital or FPL's credit ratings fall to below investment grade 2,200,000,000 2,200,000,000
Additional collateral requirements if non-ratings based contract provisions are triggered 500,000,000 500,000,000
Letters of credit posted through the normal course of business that could be applied toward the collateral requirements related to derivative instruments with credit-risk-related contingent features 175,000,000 175,000,000
Maximum length of time hedged in commodity cash flow hedges December 2012
Maximum length of time hedged in interest rate cash flow hedges January 2027
Maximum length of time hedged in foreign currency cash flow hedges December 2011
Power [Member]
Schedule Of Net Notional Volume Of Commodity Derivative Instruments [Line Items]
Non Monetary Net Notional Volumes (30,000,000)
Natural Gas [Member]
Schedule Of Net Notional Volume Of Commodity Derivative Instruments [Line Items]
Non Monetary Net Notional Volumes 608,000,000 [5]
Oil [Member]
Schedule Of Net Notional Volume Of Commodity Derivative Instruments [Line Items]
Non Monetary Net Notional Volumes 1,000,000
Current Derivative Assets [Member] | Commodity contracts
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 0 54,000,000
Fair Values of Derivative Liabilities Designated as Hedging Instruments 0 1,000,000
Schedule Of Derivative Instruments Not Designated As Hedging Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Not Designated as Hedging Instruments 705,000,000 611,000,000
Fair Values of Derivative Liabilities Not Designated as Hedging Instruments 237,000,000 303,000,000
Current Derivative Assets [Member] | Interest rate swaps
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 16,000,000 0
Fair Values of Derivative Liabilities Designated as Hedging Instruments 0 0
Current Derivative Liabilities [Member] | Commodity contracts
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 0 45,000,000
Fair Values of Derivative Liabilities Designated as Hedging Instruments 0 4,000,000
Schedule Of Derivative Instruments Not Designated As Hedging Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Not Designated as Hedging Instruments 1,712,000,000 1,002,000,000
Fair Values of Derivative Liabilities Not Designated as Hedging Instruments 2,243,000,000 1,288,000,000
Current Derivative Liabilities [Member] | Interest rate swaps
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 0 0
Fair Values of Derivative Liabilities Designated as Hedging Instruments 55,000,000 51,000,000
Current Derivative Liabilities [Member] | Foreign currency swap
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 0 0
Fair Values of Derivative Liabilities Designated as Hedging Instruments 3,000,000 0
Schedule Of Derivative Instruments Not Designated As Hedging Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Not Designated as Hedging Instruments 0 0
Fair Values of Derivative Liabilities Not Designated as Hedging Instruments 1,000,000 0
Non Current Other Assets [Member] | Commodity contracts
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 0 44,000,000
Fair Values of Derivative Liabilities Designated as Hedging Instruments 0 2,000,000
Schedule Of Derivative Instruments Not Designated As Hedging Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Not Designated as Hedging Instruments 621,000,000 921,000,000
Fair Values of Derivative Liabilities Not Designated as Hedging Instruments 166,000,000 699,000,000
Non Current Other Assets [Member] | Interest rate swaps
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 7,000,000 61,000,000
Fair Values of Derivative Liabilities Designated as Hedging Instruments 0 0
Non Current Other Assets [Member] | Foreign currency swap
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 13,000,000 5,000,000
Fair Values of Derivative Liabilities Designated as Hedging Instruments 0 0
Schedule Of Derivative Instruments Not Designated As Hedging Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Not Designated as Hedging Instruments 1,000,000 0
Fair Values of Derivative Liabilities Not Designated as Hedging Instruments 0 0
Non Current Derivative Liabilities [Member] | Commodity contracts
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 0 8,000,000
Fair Values of Derivative Liabilities Designated as Hedging Instruments 0 13,000,000
Schedule Of Derivative Instruments Not Designated As Hedging Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Not Designated as Hedging Instruments 1,166,000,000 128,000,000
Fair Values of Derivative Liabilities Not Designated as Hedging Instruments 1,468,000,000 260,000,000
Non Current Derivative Liabilities [Member] | Interest rate swaps
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Designated as Hedging Instruments 0 0
Fair Values of Derivative Liabilities Designated as Hedging Instruments 62,000,000 27,000,000
Non Current Derivative Liabilities [Member] | Foreign currency swap
Schedule Of Derivative Instruments Not Designated As Hedging Instruments In Statement Of Financial Position Fair Value [Abstract]
Fair Values of Derivative Assets Not Designated as Hedging Instruments 0 0
Fair Values of Derivative Liabilities Not Designated as Hedging Instruments 0 6,000,000
Commodity contracts
Schedule Of Cash Flow Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Gains (losses) recognized in OCI 0 5,000,000 19,000,000 157,000,000
Gains (losses) reclassified from accumulated other comprehensive income (AOCI) to net income 32,000,000 60,000,000 68,000,000 83,000,000
Gains (losses) recognized in income due to hedge ineffectiveness 0 [3] (1,000,000) 1,000,000 9,000,000
Schedule Of Derivative Instruments Not Designated As Hedging Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Gain (losses) related to derivatives not designated as hedging instruments 18,000,000 [4] 21,000,000 [4] 355,000,000 [4] 160,000,000 [4]
Interest rate swaps
Schedule Of Cash Flow Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Gains (losses) recognized in OCI (72,000,000) 53,000,000 (106,000,000) 48,000,000
Gains (losses) reclassified from accumulated other comprehensive income (AOCI) to net income (9,000,000) (5,000,000) (26,000,000) (14,000,000)
Gains (losses) recognized in income due to hedge ineffectiveness 0 [3] 0 [3] 0 [3] 0 [3]
Foreign currency swap
Schedule Of Cash Flow Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Gains (losses) recognized in OCI 8,000,000 4,000,000
Gains (losses) reclassified from accumulated other comprehensive income (AOCI) to net income 8,000,000 [6] 6,000,000 [6]
Gains (losses) recognized in income due to hedge ineffectiveness 0 [3] 0 [3]
Schedule Of Derivative Instruments Not Designated As Hedging Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Gain (losses) related to derivatives not designated as hedging instruments 7,000,000 4,000,000 5,000,000 (9,000,000)
Interest Expense Aggregate Expenses [Member]
Schedule Of Cash Flow Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Gain (loss) on fair value hedge reflected in interest expense  $ 4,000,000  $ (6,000,000)  $ 4,000,000  $ (5,000,000)
[1] At June 30, 2010 and December 31, 2009, NextEra Energy's balances reflect the netting of  $14 million and  $4 million, respectively, in margin cash collateral received from counterparties.
[2] At December 31, 2009, NextEra Energy's balances reflect the netting of  $1 million in margin cash collateral received from counterparties.
[3] Represents the ineffective portion of the hedging instrument.
[4] In addition, for the three and six months ended June 30, 2010, FPL recorded approximately  $63 million of gains and  $392 million of losses, respectively, related to commodity contracts as regulatory liabilities and regulatory assets, respectively, on its condensed consolidated balance sheets. For the three and six months ended June 30, 2009, FPL recorded losses of approximately  $21 million and  $546 million, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets.
[5] One million British thermal units
[6]  $1 million loss is included in interest expense and the balance is included in other - net.
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Fair Value Measurements (Detail) (USD  $)
In Millions
3 Months Ended 6 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Dec. 31, 2009
Assets:
Cash equivalents: equity securities  $ 361  $ 361  $ 79
Special Use Funds:
Equity securities 1,519 1,519 1,705
U.S. Government and municipal bonds 704 704 574
Corporate debt securities 430 430 452
Mortgage-backed securities 560 560 618
Other debt securities 96 96 41
Other Investments:
Equity securities 5 5 7
U.S. Government and municipal bonds 20 20 38
Corporate debt securities 32 32 35
Mortgage-backed securities 48 48 31
Other 17 17 4
Derivatives:
Commodity contracts 909 [1] 909 [1]
Interest rate swaps 23 [1] 23 [1]
Foreign currency swaps 14 [1] 14 [1]
Derivative Assets 686 [1]
Derivatives:
Commodity contracts 715 [1] 715 [1]
Interest rate swaps 117 [1] 117 [1]
Foreign currency swaps 4 [1] 4 [1]
Derivative Liabilities 391 [1]
Fair value of investments in commingled funds whose underlying investments would be Level 1 if those investments were held directly by the registrant 869 869 918
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Realized and unrealized gains (losses) reflected in operating revenues (109) 47 343 385
Realized and unrealized gains (losses) reflected in fuel purchased power and interchange (1) 7
Gross transfers into Level 3 were a result of decreased observability of market data 1 2
Gross transfers out of Level 3 to Level 2 were a result of increased observability of market data 23 30
Unrealized gains (losses) reflected in operating revenues (98) 49 233 321
Unrealized gains (losses) are reflected in fuel purchased power and interchange (1) 4
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member]
Assets:
Cash equivalents: equity securities 0 0
Special Use Funds:
Equity securities 573 657
U.S. Government and municipal bonds 602 275
Corporate debt securities 0 0
Mortgage-backed securities 0 0
Other debt securities 0 0
Other Investments:
Equity securities 2 3
U.S. Government and municipal bonds 20 0
Corporate debt securities 0 0
Mortgage-backed securities 0 0
Other 5 4
Derivatives:
Commodity contracts 1,751
Interest rate swaps 0
Foreign currency swaps 0
Derivative Assets 988
Derivatives:
Commodity contracts 1,838
Interest rate swaps 0
Foreign currency swaps 0
Derivative Liabilities 1,110
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Cash equivalents: equity securities 361 79
Special Use Funds:
Equity securities 946 [2] 1,048
U.S. Government and municipal bonds 102 299
Corporate debt securities 430 452
Mortgage-backed securities 560 618
Other debt securities 96 41
Other Investments:
Equity securities 3 4
U.S. Government and municipal bonds 0 38
Corporate debt securities 32 35
Mortgage-backed securities 48 31
Other 12 0
Derivatives:
Commodity contracts 1,461
Interest rate swaps 23
Foreign currency swaps 14
Derivative Assets 1,089
Derivatives:
Commodity contracts 1,631
Interest rate swaps 117
Foreign currency swaps 4
Derivative Liabilities 1,106
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Cash equivalents: equity securities 0 0
Special Use Funds:
Equity securities 0 0
U.S. Government and municipal bonds 0 0
Corporate debt securities 0 0
Mortgage-backed securities 0 0
Other debt securities 0 0
Other Investments:
Equity securities 0 0
U.S. Government and municipal bonds 0 0
Corporate debt securities 0 0
Mortgage-backed securities 0 0
Other 0 0
Derivatives:
Commodity contracts 994
Interest rate swaps 0
Foreign currency swaps 0
Derivative Assets 801
Derivatives:
Commodity contracts 647
Interest rate swaps 0
Foreign currency swaps 0
Derivative Liabilities 437
Netting [Member]
Assets:
Cash equivalents: equity securities 0 [3] 0
Special Use Funds:
Equity securities 0 [3] 0
U.S. Government and municipal bonds 0 [3] 0
Corporate debt securities 0 [3] 0
Mortgage-backed securities 0 [3] 0
Other debt securities 0 [3] 0
Other Investments:
Equity securities 0 [3] 0
U.S. Government and municipal bonds 0 [3] 0
Corporate debt securities 0 [3] 0
Mortgage-backed securities 0 [3] 0
Other 0 [3] 0
Derivatives:
Commodity contracts (3,297) [3]
Interest rate swaps 0 [3]
Foreign currency swaps 0 [3]
Derivative Assets (2,192)
Derivatives:
Commodity contracts (3,401) [3]
Interest rate swaps 0 [3]
Foreign currency swaps 0 [3]
Derivative Liabilities (2,262)
Derivative Financial Instruments Net [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of derivatives based on significant unobservable inputs beginning balance 549 539 364 404
Included in earnings(a) (110) [4] 47 [4] 350 [5] 385 [5]
Realized and unrealized gains (losses) Included in regulatory assets and liabilities (1) 0 (1) 5
Settlements and net option premiums (69) (116) (338) (246)
Net transfers in/out(b) (22) 15 (28) [6] (63) [6]
Fair value of net derivatives based on significant unobservable inputs ending balance 347 485 347 485
The amount of gains for the period included in earnings attributable to the change in unrealized gains (losses) relating to derivatives still held at the reporting date (a)  $ (99) [7]  $ 49 [7]  $ 237 [8]  $ 321 [8]
[1] See Note 2 for a reconciliation of net derivatives to NextEra Energy's condensed consolidated balance sheets.
[2] At NextEra Energy, approximately  $869 million are invested in commingled funds whose underlying investments would be Level 1 if those investments were held directly by NextEra Energy.
[3] Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.
[4] For the three months ended June 30, 2010 and 2009,  $(109) million and  $47 million, respectively, of realized and unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income. For the three months ended June 30, 2010,  $(1) million of realized and unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.
[5] For the six months ended June 30, 2010 and 2009,  $343 million and  $385 million, respectively, of realized and unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income. For the six months ended June 30, 2010,  $7 million of realized and unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.
[6] For the six months ended June 30, 2010, gross transfers of  $2 million into Level 3 were a result of decreased observability of market data, and gross transfers of  $30 million from Level 3 to Level 2 were a result of increased observability of market data. NextEra Energy's policy is to recognize all transfers at the beginning of the reporting period.
[7] For the three months ended June 30, 2010 and 2009,  $(98) million and  $49 million, respectively, of unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income. For the three months ended June 30, 2010,  $(1) million of unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.
[8] For the six months ended June 30, 2010 and 2009,  $233 million and  $321 million, respectively, of unrealized gains (losses) are reflected in operating revenues in the condensed consolidated statements of income. For the six months ended June 30, 2010,  $4 million of unrealized gains (losses) are reflected in fuel, purchased power and interchange in the condensed consolidated statements of income.
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Financial Instruments (Detail) (USD  $)
In Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Dec. 31, 2009
Mar. 31, 2009
Notes to Financial Statements [Abstract]
Increase in Retained Earnings for previously recognized OTTI  $ 5
Other Investments, Primarily Notes Receivable 50 50 39
Other Investments:
Special Use Funds: Cash 8 8
Special Use Funds: Equity Method Investments 50 50
Special Use Funds: Loans 5 5
Available For Sale Debt Securities Amortized Cost 1,735 1,735 1,638
Available For Sale Equity Securities Amortized Cost 1,327 1,327 1,396
Held to Maturity Notes Receivable Maturity Date - Low 2014 2014
Held to Maturity Notes Receivable Maturity Date - High 2029 2029
Special Use Funds: Nuclear Decommissioning Fund Assets 3,247 3,247
Special Use Funds: Storm Fund Assets 125 125
Special Use Funds: Nuclear Decommissioning Funds Weighted Average Maturity six years six years
Special Use Funds: Storm Fund Weighted Average Maturity three years
Realized Gains and Losses and Proceeds from the Sale of Available for Sale Securities Table
Realized gains 17 10 62
Realized losses 4 12 14
Proceeds from sale of securities 1,163 835 3,063
Total Unrealized Losses on Available For Sale Debt Securities and Fair Value of Available For Sale Debt Securities in an Unrealized Loss Position Table
Available For Sale Securities: Number of Securities in an Unrealized Loss Positions Greater Than 12 Months 10 47
Available For Sale Securities: Aggregate Losses for Securities in Continuous Unrealized Loss Position, Greater than 12 Months 1 3
Available For Sale Securities: Fair Value for Securities in Continuous Unrealized Loss Position, Greater than 12 Months 4 4 37
Available For Sale Securities Special Use Funds Equity Securities [Member]
Total Unrealized Gains on Available for Sale Securities Table
Unrealized Gains 286 400
Available For Sale Securities Special Use Funds US Government And Municipal Bonds [Member]
Total Unrealized Gains on Available for Sale Securities Table
Unrealized Gains 26 14
Total Unrealized Losses on Available For Sale Debt Securities and Fair Value of Available For Sale Debt Securities in an Unrealized Loss Position Table
Unrealized Losses 0 6
Fair Value 21 [1] 255 [1]
Available For Sale Securities Special Use Funds Corporate Debt Securities [Member]
Total Unrealized Gains on Available for Sale Securities Table
Unrealized Gains 24 21
Total Unrealized Losses on Available For Sale Debt Securities and Fair Value of Available For Sale Debt Securities in an Unrealized Loss Position Table
Unrealized Losses 1 2
Fair Value 48 [1] 104 [1]
Available For Sale Securities Special Use Funds Mortgage Backed Securities [Member]
Total Unrealized Gains on Available for Sale Securities Table
Unrealized Gains 27 22
Total Unrealized Losses on Available For Sale Debt Securities and Fair Value of Available For Sale Debt Securities in an Unrealized Loss Position Table
Unrealized Losses 1 4
Fair Value 13 [1] 225 [1]
Available For Sale Securities Special Use Funds Other Debt Securities [Member]
Total Unrealized Gains on Available for Sale Securities Table
Unrealized Gains 3 1
Total Unrealized Losses on Available For Sale Debt Securities and Fair Value of Available For Sale Debt Securities in an Unrealized Loss Position Table
Unrealized Losses 0 0
Fair Value 13 [1] 10 [1]
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Special use funds 3,372 [2] 3,390 [2]
Other Investments:
Notes receivable 530 534
Debt securities 112 [3] 104 [3]
Equity securities 52 45
Long-term debt, including current maturities 18,227 16,869
Interest rate swaps - net unrealized gains (losses) (94) (17)
Foreign currency swaps - net unrealized gains (losses) 10 (1)
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Special use funds 3,372 [4] 3,390 [4]
Other Investments:
Notes receivable 553 [5] 556 [5]
Debt securities 112 [4] 104 [4]
Equity securities 120 [6] 105 [6]
Long-term debt, including current maturities 19,193 [7] 17,256 [7]
Interest rate swaps - net unrealized gains (losses) (94) [8] (17) [8]
Foreign currency swaps - net unrealized gains (losses)  $ 10 [8]  $ (1) [8]
[1] At June 30, 2010 and December 31, 2009, NextEra Energy had 10 securities and 47 securities, respectively, in an unrealized loss position for greater than twelve months. The total unrealized loss on these securities was less than  $1 million and approximately  $3 million, respectively, and the fair value was approximately  $4 million and  $37 million, respectively, for NextEra Energy. Consistent with regulatory treatment for FPL, marketable securities held in special use funds are classified as available for sale and are carried at market value with market adjustments, including any other than temporary impairment losses, resulting in a corresponding adjustment to the related regulatory liability accounts.
[2] At June 30, 2010, includes  $8 million of cash,  $50 million of investments accounted for under the equity method and  $5 million of loans not measured at fair value on a recurring basis. For the remaining balance, see Note 3 for classification by major security type. The amortized cost of debt and equity securities is  $1,735 million and  $1,327 million, respectively, at June 30, 2010 and  $1,638 million and  $1,396 million, respectively, at December 31, 2009.
[3] Classified as trading securities.
[4] Based on quoted market prices for these or similar issues.
[5] Classified as held to maturity. Based on market prices provided by external sources. Notes receivable bear interest at variable rates based on an underlying index plus a margin and mature from 2014 to 2029.
[6] Modeled internally based on latest market data.
[7] Provided by external sources based on market prices indicative of market conditions.
[8] Modeled internally based on market values using discounted cash flow analysis and credit valuation adjustment.
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Income Taxes (Detail) (USD  $)
In Millions
3 Months Ended 6 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Notes to Financial Statements [Abstract]
Effective income tax rate 0.16 0.16 0.23 0.11
Production tax credits  $ 89  $ 69  $ 164  $ 141
Deferred income tax benefit associated with convertible investment tax credits 16 17 30 32
Foreign tax benefit 18
State Tax Benefit  $ 17
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Comprehensive Income (Detail) (USD  $)
In Millions
3 Months Ended 6 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Comprehensive Income Table
Net Income (loss)  $ 417  $ 370  $ 973  $ 734
Net unrealized gains (losses) on cash flow hedges:
Effective portion of net unrealized gains (losses) (40) 35 (52) 122
Reclassification from AOCI to net income 18 32 27 38
Net Unrealized Gains Losses On Available For Sale Securities [Abstract]
Net unrealized gains (losses) on securities still held (32) 50 (13) 51
Reclassification from AOCI to net income 5 1 14 4
Defined benefit pension and other benefits plans 0 (1) 0 (2)
Net unrealized gains (losses) on foreign currency translation (12) 6 (14) 3
Comprehensive income 310 427 853 866
Tax Expense (Benefit) of Unrealized gains/losses on cash flow hedges (24) 23 (30) 83
Tax Expense (Benefit) on cash flow hedges reclassified from AOCI to net income (13) (23) (21) (27)
Tax Expense (Benefit) of unrealized gains/losses on available for sale securities (22) 36 (6) 36
Tax Expense (Benefit) on available for sale securities reclassified from AOCI to net income (4) (1) (11) (3)
Tax Expense (Benefit) of Defined benefit pension and other benefits plans (1) (1)
Tax Expense (Benefit) of Foreign Currency Translation (6) 3 (7) 2
Total Gain (Loss) to be Reclassified During Next 12 Months  $ 12  $ 12
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Variable Interest Entities (Detail) (USD  $)
In Millions
Jun. 30, 2010
Jun. 30, 2010
Variable Interest Entity Bankruptcy Remote Special Purpose Subsidiary Primary Beneficiary [Member]
Dec. 31, 2007
Variable Interest Entity Bankruptcy Remote Special Purpose Subsidiary Primary Beneficiary [Member]
Jun. 30, 2010
Qualifying Facility 1 [Member]
Jun. 30, 2009
Qualifying Facility 1 [Member]
Jun. 30, 2010
Qualifying Facility 1 [Member]
Jun. 30, 2009
Qualifying Facility 1 [Member]
Jun. 30, 2010
Variable Interest Entity Qualifying Facility Not Primary Beneficiary [Member]
Jun. 30, 2010
Variable Interest Entities Of Next Era Energy Resources [Member]
Jun. 30, 2010
Variable Interest Entities Gas And Oil Of Next Era Energy Resources Primary Beneficiary [Member]
Jun. 30, 2010
Variable Interest Entity Wind Of Next Era Energy Resources Primary Beneficiary [Member]
Jun. 30, 2010
Variable Interest Entity Other [Member]
Storm-recovery bonds aggregate principal amount issued  $ 652
Storm and property insurance reserve 200
Proceeds from issuance of storm-recovery bonds 644
Carrying amount of assets, consolidated variable interest entity 459 309 1,200 50
Carrying amount of liabilities, consolidated variable interest entity 562 226 1,200
Coal fired generating facility capacity 250 megawatt 330 mw
Quantity of electricity purchased 373,152 mwh 335,064 mwh 735,542 mwh 808,829 mwh
Cost of electricity purchased 46 41 91 83
Ownership percentage 100
Natural gas and or oil electric generating facility capacity 778 mw
Wind electric generating facility capability 768 mw
Length of transmission line 78 mile
Capacity of transmission line 230 kilovolt
Investments in special purpose entities  $ 629
Total number of consolidated variable interest entities six
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Common Stock (Detail) (USD  $)
In Millions, except Per Share data
3 Months Ended 6 Months Ended 18 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Notes to Financial Statements [Abstract]
Numerator - net income  $ 417  $ 370  $ 973  $ 734
Denominator:
Weighted-average number of common shares outstanding - basic 408.9 403.7 408.2 403
Restricted stock, performance share awards, options, warrants and equity units (a) 2.5 [1] 2.7 [1] 2.5 [1] 2.6 [1]
Weighted-average number of common shares outstanding - assuming dilution 411.4 406.4 410.7 405.6
Earnings per share of common stock:
Basic  $ 1.02  $ 0.92  $ 2.38  $ 1.82
Assuming dilution  $ 1.01  $ 0.91  $ 2.37  $ 1.81
Antidilutive securities 7.8 0.8 8.7 0.9
Continuous Offering of NextEra Energy Common Stock - maximum gross sales price 400
Continuous Offering of NextEra Energy Common Stock - gross proceeds  $ 45  $ 45  $ 205
[1] Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award. Restricted stock, performance share awards, options, warrants and equity units are included in diluted weighted-average number of common shares outstanding by applying the treasury stock method.
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Debt (Details) (USD  $)
In Millions
6 Months Ended
Jun. 30, 2010
FPL First Mortgage Bonds 1 [Member]
Debt Instrument [Line Items]
Date Issued February 2010
Interest Rate 5.69
Principal Amount  $ 500
Maturity Date 2040-02-28
Next Era Energy Resources Subsidiary Limited Recourse Senior Secured Notes 1 [Member]
Debt Instrument [Line Items]
Date Issued March 2010
Interest Rate 6.56
Principal Amount 305
Maturity Date 2030-03-31
FPL Group Capital Term Loan 1 [Member]
Debt Instrument [Line Items]
Date Issued April 2010
Interest Rate Terms Variable [1]
Principal Amount 100
Maturity Date 2013-04-30
FPL Group Capital Term Loan 2 [Member]
Debt Instrument [Line Items]
Date Issued April 2010
Interest Rate Terms Variable [1]
Principal Amount 100
Maturity Date 2013-04-30
Next Era Energy Resources Subsidiary Limited Recourse Senior Secured Notes 2 [Member]
Debt Instrument [Line Items]
Date Issued April 2010
Interest Rate Terms Variable [1],[2]
Principal Amount 255
Maturity Date 2027-04-30
FPL Group Capital Debentures 1 [Member]
Debt Instrument [Line Items]
Date Issued May 2010
Interest Rate 2.55
Principal Amount 250
Maturity Date 2013-05-31
Next Era Energy Resources Subsidiary Term Loan 1 [Member]
Debt Instrument [Line Items]
Date Issued June 2010
Interest Rate Terms Variable [1]
Principal Amount  $ 78
Maturity Date 2015-06-30
[1] Variable rate is based on an underlying index plus a margin.
[2] Interest rate swap agreements were entered into with respect to these issuances.
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Commitments and Contingencies (Detail) (USD  $)
3 Months Ended 6 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Planned Capital Expenditures [Line Items]
2010  $ 2,005,000,000
2011 4,020,000,000
2012 4,070,000,000
2013 2,445,000,000
2014 1,765,000,000
Total 14,305,000,000
Allowance for funds used during construction (AFUDC) 28,000,000
Allowance for funds used during construction (AFUDC) 47,000,000
Allowance for funds used during construction (AFUDC) 80,000,000
Allowance for funds used during construction (AFUDC) 86,000,000
Allowance for funds used during construction (AFUDC) 31,000,000
Pre-construction costs and carrying charges (equal to a pretax AFUDC rate) 50,000,000
Pre-construction costs and carrying charges (equal to a pretax AFUDC rate) 79,000,000
Pre-construction costs and carrying charges (equal to a pretax AFUDC rate) 67,000,000
Pre-construction costs and carrying charges (equal to a pretax AFUDC rate) 24,000,000
Planned new wind generation mw over next 5 years 3,500 mw to 5,000 mw
Planned new wind generation mw over next year 600 mw to 850 mw
Planned new wind generation costs over next year low range 7,000,000,000
Planned new wind generation costs over next year high range 10,000,000,000
Planned Additional Solar Generation MW Over Next Five Years 400 mw to 600 mw
Planned new solar generation costs over next five years low range 3,000,000,000
Planned new solar generation costs over next five years high range 4,000,000,000
Planned gas infrastructure project costs over next five years low range 400,000,000
Planned gas infrastructure project costs over next five years high range 600,000,000
Planned transmission line in Texas costs over next five years 800,000,000
Terms of guarantees related to non-consolidated entities in years one year to seven years
Amount of guarantees related to non-consolidated entities 54,000,000 54,000,000
Long Term Purchase Commitment [Abstract]
Capactiy Payments 137,000,000 154,000,000 286,000,000 307,000,000
Energy Payments 114,000,000 108,000,000 213,000,000 204,000,000
Term Of Agreements With Contingencies Low Range 15
Term Of Agreements With Contingencies High Range 25
Annual Firm Commitments - Agreements With Contingencies 175,000,000
Over Term Of Firm Commitments - Agreements With Contingencies 4,300,000,000
Maximum Obtainable Amount of Priviate Liability Insurance Available Under Price-Anderson Act 375,000,000
Amount of Secondary Financial Protection Liability Insurance Coverage Per Incident 12,200,000,000
Potential Amount of Retrospective Assessment Under Secondary Financial Protection System 940,000,000
Potential Amount of Retrospective Assessment Under Secondary Financial Protection System Payable Per Year 140,000,000
Insurance [Line Items]
Amount Of Limited Insurance Coverage Per Occurence Per Site Under Nuclear Insurance Mutual Companies For Property Damage Decontamination And Premature Decommissioning Risks 2,750,000,000
Interest Owned In Generation Facility [Line Items]
Maximum Amount of Civil Pentalties Per Day - Clean Air Act from June 1, 1975 through January 30, 1997. 25,000 25,000
Maximum Amount of Civil Pentalties Per Day - Clean Air Act from January 31, 1997 through March 15, 2004. 27,500 27,500
Maximum Amount of Civil Pentalties Per Day - Clean Air Act from January 13, 2009 forward. 37,500 37,500
Common Stock Shares Purchased 1,091,524
Preferred Stock Shares Purchased 20,000
Shares of Common Stock if Preferred Stock Converted to Common Stock. 2,358,490
Aggregate Price Paid for Common and Preferred Stock 35,900,000 35,900,000
Cash Paid for Repurchase of Acquired Shares 149,213,130 149,213,130
Damages Asserted for Breach of Contract 34,000,000
Increase In Base Rate Revenues 75,000,000
Regulatory Return on Common Equity 10
Regulatory Return on Common Equity Range 100 basis points
Adjusted Regulatory Equity Ratio 59.1
Depreciation Expense Reduction 895,000,000
Seabrook Station Insurance [Member]
Insurance [Line Items]
Potential Retrospective Assessment Recoverable From Minority Interest for Nuclear Liability Secondary Financial Protection. 14,000,000
Duane Arnold Energy Center Insurance [Member]
Insurance [Line Items]
Potential Retrospective Assessment Recoverable From Minority Interest for Nuclear Liability Secondary Financial Protection. 35,000,000
St Lucie Unit No 2 Insurance [Member]
Insurance [Line Items]
Potential Retrospective Assessment Recoverable From Minority Interest for Nuclear Liability Secondary Financial Protection. 18,000,000
Scherer Unit No 4 [Member]
Interest Owned In Generation Facility [Line Items]
Interest Owned In Generation Facility 76
FPL New Generation Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 550,000,000
2011 1,390,000,000
2012 1,790,000,000
2013 500,000,000
2014 110,000,000
Total 4,340,000,000 [1],[2],[3]
FPL Existing Generation Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 235,000,000 [1]
2011 545,000,000 [1]
2012 490,000,000 [1]
2013 490,000,000 [1]
2014 465,000,000 [1]
Total 2,225,000,000 [1]
FPL Transmission And Distribution Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 290,000,000
2011 600,000,000
2012 695,000,000
2013 710,000,000
2014 545,000,000
Total 2,840,000,000
FPL Nuclear Fuel Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 60,000,000
2011 200,000,000
2012 175,000,000
2013 250,000,000
2014 205,000,000
Total 890,000,000
FPL General And Other Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 70,000,000
2011 100,000,000
2012 120,000,000
2013 60,000,000
2014 125,000,000
Total 475,000,000
Next Era Energy Resources Wind Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 355,000,000 [4]
2011 45,000,000 [4]
2012 10,000,000 [4]
2013 10,000,000 [4]
2014 5,000,000 [4]
Total 425,000,000 [4]
Next Era Energy Resources Nuclear Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 270,000,000 [5]
2011 445,000,000 [5]
2012 315,000,000 [5]
2013 255,000,000 [5]
2014 240,000,000 [5]
Total 1,525,000,000 [5]
Next Era Energy Resources Natural Gas Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 20,000,000
2011 75,000,000
2012 70,000,000
2013 45,000,000
2014 20,000,000
Total 230,000,000
Next Era Energy Resources Solar Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 105,000,000 [6]
2011 530,000,000 [6]
2012 345,000,000 [6]
2013 80,000,000 [6]
2014 0 [6]
Total 1,060,000,000 [6]
Next Era Energy Resources Other Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 50,000,000 [7]
2011 90,000,000 [7]
2012 60,000,000 [7]
2013 45,000,000 [7]
2014 50,000,000 [7]
Total 295,000,000 [7]
Corporate And Other Expenditures [Member]
Planned Capital Expenditures [Line Items]
2010 20,000,000 [8]
2011 55,000,000 [8]
2012 30,000,000 [8]
2013 30,000,000 [8]
2014 25,000,000 [8]
Total 160,000,000 [8]
JEA And Southern Subsidiaries Contract Range 1 [Member]
Long-term Purchase Commitment [Line Items]
MW under JEA and Southern Contracts 1,330 mw
Time period under JEA and Southern Contracts mid-2010 through 2015
JEA And Southern Subsidiaries Contract Range 2 [Member]
Long-term Purchase Commitment [Line Items]
MW under JEA and Southern Contracts 375 mw
Time period under JEA and Southern Contracts through 2021
Qualifiying Facilities Contracts [Member]
Long-term Purchase Commitment [Line Items]
Minimum MW Purchase Commitments 695
Expiration Dates Purchase Commitments December 2010 through 2032
Other Electricity Suppliers Contract [Member]
Long-term Purchase Commitment [Line Items]
Minimum MW Purchase Commitments 155
Expiration Dates Purchase Commitments 2012
Natural Gas Including Transportation And Storage [Member]
Long-term Purchase Commitment [Line Items]
Expiration Dates Purchase Commitments through 2032
Next Era Energy Resources Contract Group 1 [Member]
Long-term Purchase Commitment [Line Items]
Expiration Dates Purchase Commitments October 2010 through 2022
NextEra Energy Resources Commitment Amount Included in Capital Expenditures 1,100,000,000
Next Era Energy Resources Contract Group 2 [Member]
Long-term Purchase Commitment [Line Items]
Expiration Dates Purchase Commitments October 2010 through 2033
FPL JEA And Southern Subsidiaries Capacity Payments [Member]
Long-term Purchase Commitment [Line Items]
2010 100,000,000 [9]
2011 210,000,000 [9]
2012 210,000,000 [9]
2013 200,000,000 [9]
2014 180,000,000 [9]
Thereafter 350,000,000 [9]
FPL Qualifying Facilities Capacity Payments [Member]
Long-term Purchase Commitment [Line Items]
2010 150,000,000 [9]
2011 270,000,000 [9]
2012 290,000,000 [9]
2013 270,000,000 [9]
2014 270,000,000 [9]
Thereafter 2,890,000,000 [9]
FPL Other Electricity Suppliers Capacity Payments [Member]
Long-term Purchase Commitment [Line Items]
2010 5,000,000 [9]
2011 10,000,000 [9]
2012 5,000,000 [9]
2013 0 [9]
2014 0 [9]
Thereafter 0 [9]
FPL Natural Gas Including Transportation And Storage Contract Minimum Payments [Member]
Long-term Purchase Commitment [Line Items]
2010 1,120,000,000 [10]
2011 1,495,000,000 [10]
2012 615,000,000 [10]
2013 405,000,000 [10]
2014 395,000,000 [10]
Thereafter 4,475,000,000 [10]
FPL Oil Contract Minimum Payments [Member]
Long-term Purchase Commitment [Line Items]
2010 0 [10]
2011 120,000,000 [10]
2012 0 [10]
2013 0 [10]
2014 0 [10]
Thereafter 0 [10]
FPL Coal Contract Minimum Payments [Member]
Long-term Purchase Commitment [Line Items]
2010 40,000,000 [10]
2011 60,000,000 [10]
2012 10,000,000 [10]
2013 0 [10]
2014 0 [10]
Thereafter 0 [10]
Next Era Energy Resources Contract Minimum Payments [Member]
Long-term Purchase Commitment [Line Items]
2010 860,000,000 [11]
2011 335,000,000 [11]
2012 240,000,000 [11]
2013 80,000,000 [11]
2014 65,000,000 [11]
Thereafter  $ 765,000,000 [11]
[1] Includes allowance for funds used during construction (AFUDC) of approximately  $28 million,  $47 million,  $80 million,  $86 million and  $31 million in 2010 to 2014, respectively.
[2] Includes land, generating structures, transmission interconnection and integration and licensing.
[3] Includes projects that have received FPSC approval. Includes pre-construction costs and carrying charges (equal to a pretax AFUDC rate) on construction costs recoverable through the capacity clause of approximately  $50 million,  $79 million,  $67 million and  $24 million in 2010 to 2013, respectively. Excludes capital expenditures for the construction costs for the two additional nuclear units at FPL's Turkey Point site beyond what is required to receive an NRC license for each unit.
[4] Consists of capital expenditures for planned new wind projects that have received applicable internal approvals, and related transmission. NextEra Energy Resources plans to add new wind generation of approximately 3,500 mw to 5,000 mw in 2010 through 2014, including 600 mw to 850 mw in 2010, at a total cost of approximately  $7 billion to  $10 billion.
[5] Includes nuclear fuel.
[6] Consists of capital expenditures for planned new solar projects that have received applicable internal approvals. NextEra Energy Resources plans to add new solar generation of approximately 400 mw to 600 mw in 2010 through 2014 at a total cost of approximately  $3 billion to  $4 billion.
[7] Consists of capital expenditures that have received applicable internal approvals. NextEra Energy Resources plans to add natural gas infrastructure projects totaling approximately  $400 million to  $600 million in 2010 through 2014.
[8] Consists of capital expenditures that have received applicable internal approvals. Excludes capital expenditures for a transmission line in Texas totaling approximately  $800 million by 2014.
[9] Capacity payments under these contracts, substantially all of which are recoverable through the capacity clause, totaled approximately  $137 million and  $154 million for the three months ended June 30, 2010 and 2009, respectively, and approximately  $286 million and  $307 million for the six months ended June 30, 2010 and 2009, respectively. Energy payments under these contracts, which are recoverable through the fuel clause, totaled approximately  $114 million and  $108 million for the three months ended June 30, 2010 and 2009, respectively, and approximately  $213 million and  $204 million for the six months ended June 30, 2010 and 2009, respectively.
[10] Recoverable through the fuel clause.
[11] Includes termination payments associated with wind turbine contracts for projects that have not yet received applicable internal approvals.
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Segment Information (Detail) (USD  $)
In Millions
3 Months Ended 6 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Dec. 31, 2009
Segment Reporting Information [Line Items]
Operating revenues  $ 3,591  $ 3,811  $ 7,213  $ 7,515
Operating Expenses 2,882 3,206 5,565 6,327
Net Income (loss) 417 370 973 734
Assets 51,209 51,209 48,458
FPL [Member]
Segment Reporting Information [Line Items]
Operating revenues 2,580 2,864 4,908 5,437
Operating Expenses 2,079 2,468 4,014 4,779
Net Income (loss) 265 213 456 340
Assets 28,414 28,414 26,812
Next Era Energy Resources [Member]
Segment Reporting Information [Line Items]
Operating revenues 965 911 2,212 2,000
Operating Expenses 767 710 1,478 1,486
Net Income (loss) 154 163 521 391
Assets 20,999 20,999 20,136
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Operating revenues 46 36 93 78
Operating Expenses 36 28 73 62
Net Income (loss) (2) (6) (4) 3
Assets  $ 1,796  $ 1,796  $ 1,510
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Summarized Financial Information of FPL Group Capital (Detail) (USD  $)
In Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2010
Jun. 30, 2009
Jun. 30, 2010
Jun. 30, 2009
Dec. 31, 2009
Condensed Consolidating Statements of Income
Operating revenues  $ 3,591  $ 3,811  $ 7,213  $ 7,515
Operating Expenses (2,882) (3,206) (5,565) (6,327)
Interest expense (247) (215) (485) (426)
Other Income Deductions Net 32 51 101 62
Income (loss) before income taxes 494 441 1,264 824
Income tax expense (benefit) 77 71 291 90
Net income (loss) 417 370 973 734
Property, Plant and Equipment
Electric utility plant in service and other property 52,180 52,180 50,169
Less accumulated depreciation and amortization (14,602) (14,602) (14,091)
Total property, plant and equipment - net 37,578 37,578 36,078
Current assets
Cash and cash equivalents 829 276 829 276 238
Receivables 2,025 2,025 2,247
Other Current Assets 2,445 2,445 1,852
Assets Current 5,299 5,299 4,337
Other Assets
Investment in subsidiaries 0 0 0
Other 8,332 8,332 8,043
Assets Noncurrent 8,332 8,332 8,043
Assets 51,209 51,209 48,458
CAPITALIZATION
Common shareholders' equity 13,529 13,529 12,967
Long-term debt ( $858 related to VIEs at June 30, 2010) 17,171 17,171 16,300
Total Capitalization 30,700 30,700 29,267
CURRENT LIABILITIES
Debt Due Within One Year 3,022 3,022 2,589
Accounts payable 1,316 1,316 992
Other 2,788 2,788 2,868
Total current liabilities 7,126 7,126 6,449
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations 2,447 2,447 2,418
Accumulated deferred income taxes 5,242 5,242 4,860
Regulatory liabilities 3,125 3,125 3,182
Other 2,569 2,569 2,282
Liabilities Noncurrent 13,383 13,383 12,742
COMMITMENTS AND CONTINGENCIES    
TOTAL CAPITALIZATION AND LIABILITIES 51,209 51,209 48,458
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By Used In Operating Activities 1,748 2,144
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power investments and nuclear fuel purchases (2,757) (2,445)
Capital contribution to FPL 0 0
Cash grants under the American Recovery and Reinvestment Act of 2009 511
Other Cash Flows From Investing Activities Net (37) 24
Net cash used in investing activities (2,283) (2,421)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt 1,585 2,372
Retirements of long-term debt (269) (1,314)
Sale of differential membership interests 190 0
Net change in short-term debt (54) (743)
Issuances of common stock 69 83
Dividends on common stock (410) (382)
Proceeds From Payments For Other Financing Activities 15 2
Net cash provided by financing activities 1,126 18
Net increase (decrease) in cash and cash equivalents 591 (259)
Cash and cash equivalents at beginning of period 238 535 535
Cash and cash equivalents at end of period 829 276 829 276 238
NextEra Energy (Guarantor)
Condensed Consolidating Statements of Income
Operating revenues 0 0 0
Operating Expenses (2) (1) (2) (1)
Interest expense (4) (4) (8) (8)
Other Income Deductions Net 427 382 989 756
Income (loss) before income taxes 421 377 979 747
Income tax expense (benefit) 4 7 6 13
Net income (loss) 417 370 973 734
Property, Plant and Equipment
Electric utility plant in service and other property 19 19 2
Less accumulated depreciation and amortization 0 0 0
Total property, plant and equipment - net 19 19 2
Current assets
Cash and cash equivalents 0 0 0 0
Receivables 667 667 453
Other Current Assets 111 111 4
Assets Current 778 778 457
Other Assets
Investment in subsidiaries 13,299 13,299 12,785
Other 378 378 557
Assets Noncurrent 13,677 13,677 13,342
Assets 14,474 14,474 13,801
CAPITALIZATION
Common shareholders' equity 13,529 13,529 12,967
Long-term debt ( $858 related to VIEs at June 30, 2010) 0 0 0
Total Capitalization 13,529 13,529 12,967
CURRENT LIABILITIES
Debt Due Within One Year 0 0 0
Accounts payable 6 6 0
Other 471 471 417
Total current liabilities 477 477 417
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations 0 0 0
Accumulated deferred income taxes 149 149 94
Regulatory liabilities 15 15 16
Other 304 304 307
Liabilities Noncurrent 468 468 417
TOTAL CAPITALIZATION AND LIABILITIES 14,474 14,474 13,801
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By Used In Operating Activities 487 361
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power investments and nuclear fuel purchases 0 0
Capital contribution to FPL 135 0
Cash grants under the American Recovery and Reinvestment Act of 2009 0 0
Other Cash Flows From Investing Activities Net 0 (53)
Net cash used in investing activities (135) (53)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt 0 0
Retirements of long-term debt 0 0
Sale of differential membership interests 0 0
Net change in short-term debt 0 0
Issuances of common stock 69 83
Dividends on common stock (410) (382)
Proceeds From Payments For Other Financing Activities (11) (9)
Net cash provided by financing activities (352) (308)
Net increase (decrease) in cash and cash equivalents 0 0
Cash and cash equivalents at beginning of period 0 0
Cash and cash equivalents at end of period 0 0 0 0
FPL Group Capital
Condensed Consolidating Statements of Income
Operating revenues 1,013 949 2,310 2,084
Operating Expenses (804) (740) (1,554) (1,553)
Interest expense (156) (136) (307) (270)
Other Income Deductions Net 20 40 86 31
Income (loss) before income taxes 73 113 535 292
Income tax expense (benefit) (79) (54) 11 (112)
Net income (loss) 152 167 524 404
Property, Plant and Equipment
Electric utility plant in service and other property 20,278 20,278 19,185
Less accumulated depreciation and amortization (3,842) (3,842) (3,513)
Total property, plant and equipment - net 16,436 16,436 15,672
Current assets
Cash and cash equivalents 450 177 450 177
Receivables 869 869 1,247
Other Current Assets 1,493 1,493 1,258
Assets Current 2,812 2,812 2,661
Other Assets
Investment in subsidiaries 0 0 0
Other 3,507 3,507 3,257
Assets Noncurrent 3,507 3,507 3,257
Assets 22,755 22,755 21,590
CAPITALIZATION
Common shareholders' equity 4,272 4,272 4,349
Long-term debt ( $858 related to VIEs at June 30, 2010) 10,879 10,879 10,506
Total Capitalization 15,151 15,151 14,855
CURRENT LIABILITIES
Debt Due Within One Year 2,090 2,090 1,729
Accounts payable 438 438 453
Other 1,212 1,212 1,170
Total current liabilities 3,740 3,740 3,352
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations 566 566 585
Accumulated deferred income taxes 1,512 1,512 1,318
Regulatory liabilities 0 0 0
Other 1,786 1,786 1,480
Liabilities Noncurrent 3,864 3,864 3,383
TOTAL CAPITALIZATION AND LIABILITIES 22,755 22,755 21,590
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By Used In Operating Activities 723 833
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power investments and nuclear fuel purchases (1,271) (1,196)
Capital contribution to FPL 0 0
Cash grants under the American Recovery and Reinvestment Act of 2009 426 0
Other Cash Flows From Investing Activities Net (15) (28)
Net cash used in investing activities (860) (1,224)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt 1,071 1,879
Retirements of long-term debt (247) (1,069)
Sale of differential membership interests 190 0
Net change in short-term debt (125) (718)
Issuances of common stock 0 0
Dividends on common stock 0 0
Proceeds From Payments For Other Financing Activities (458) 62
Net cash provided by financing activities 431 154
Net increase (decrease) in cash and cash equivalents 294 (237)
Cash and cash equivalents at beginning of period 156 414
Cash and cash equivalents at end of period 450 177 450 177
Other Consolidated Entity And Consolidation Eliminations [Member]
Condensed Consolidating Statements of Income
Operating revenues 2,578 [1] 2,862 [1] 4,903 5,431
Operating Expenses 2,076 [1] (2,465) (4,009) (4,773)
Interest expense (87) [1] (75) [1] (170) (148)
Other Income Deductions Net 415 [1] (371) (974) (725)
Income (loss) before income taxes 0 [1] (49) [1] (250) (215)
Income tax expense (benefit) 152 [1] 118 [1] 274 189
Net income (loss) (152) [1] (167) [1] (524) (404)
Property, Plant and Equipment
Electric utility plant in service and other property 31,883 31,883 30,982
Less accumulated depreciation and amortization (10,760) (10,760) (10,578)
Total property, plant and equipment - net 21,123 21,123 20,404
Current assets
Cash and cash equivalents 379 99 379 99
Receivables 489 489 547
Other Current Assets 841 841 590
Assets Current 1,709 1,709 1,219
Other Assets
Investment in subsidiaries (13,299) (13,299) (12,785)
Other 4,447 4,447 4,229
Assets Noncurrent (8,852) (8,852) (8,556)
Assets 13,980 13,980 13,067
CAPITALIZATION
Common shareholders' equity (4,272) (4,272) (4,349)
Long-term debt ( $858 related to VIEs at June 30, 2010) 6,292 6,292 5,794
Total Capitalization 2,020 2,020 1,445
CURRENT LIABILITIES
Debt Due Within One Year 932 932 860
Accounts payable 872 872 539
Other 1,105 1,105 1,281
Total current liabilities 2,909 2,909 2,680
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations 1,881 1,881 1,833
Accumulated deferred income taxes 3,581 3,581 3,448
Regulatory liabilities 3,110 3,110 3,166
Other 479 479 495
Liabilities Noncurrent 9,051 9,051 8,942
TOTAL CAPITALIZATION AND LIABILITIES 13,980 13,980 13,067
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By Used In Operating Activities 538 950
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, independent power investments and nuclear fuel purchases (1,486) (1,249)
Capital contribution to FPL (135) 0
Cash grants under the American Recovery and Reinvestment Act of 2009 85 0
Other Cash Flows From Investing Activities Net (22) 105
Net cash used in investing activities (1,288) (1,144)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt 514 493
Retirements of long-term debt (22) (245)
Sale of differential membership interests 0 0
Net change in short-term debt 71 (25)
Issuances of common stock 0 0
Dividends on common stock 0 0
Proceeds From Payments For Other Financing Activities 484 (51)
Net cash provided by financing activities 1,047 172
Net increase (decrease) in cash and cash equivalents 297 (22)
Cash and cash equivalents at beginning of period 82 121
Cash and cash equivalents at end of period  $ 379  $ 99  $ 379  $ 99
[1] Represents FPL and consolidating adjustments.
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Document Information
6 Months Ended
Jun. 30, 2010
DocumentType 10-Q
Document Period End Date 2010-06-30
Amendment Flag false
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Entity Information (USD  $)
6 Months Ended
Jun. 30, 2010
Entity Registrant Name NEXTERA ENERGY INC
Entity Central Index Key 0000753308
Current Fiscal Year End Date --12-31
Entity Well Known Seasoned Issuer Yes
Entity Voluntary Filers No
Entity Current Reporting Status Yes
Entity Filer Category Large Accelerated Filer
Entity Public Float  $ 0
Entity Common Stock Shares Outstanding 0
Document Fiscal Year Focus 2010
Document Fiscal Period Focus Q2
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