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Document And Entity Information (USD  $)
12 Months Ended
Dec. 31, 2010
Jan. 31, 2011
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  $ 20,203,956,578
Entity Common Stock, Shares Outstanding 420,952,376
Document Fiscal Year Focus 2010
Document Fiscal Period Focus FY
Document Type 10-K
Amendment Flag false
Document Period End Date Dec 31, 2010
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CONSOLIDATED STATEMENTS OF INCOME (USD  $)
In Millions, except Per Share data
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Consolidated Statements of Income [Abstract]
OPERATING REVENUES  $ 15,317  $ 15,643  $ 16,410
Operating Expenses
Fuel, purchased power and interchange 6,242 7,405 8,412
Other operations and maintenance 2,877 2,649 2,527
Depreciation and amortization 1,807 1,765 1,442
Taxes other than income taxes and other 1,148 1,230 1,204
Total operating expenses 12,074 13,049 13,585
OPERATING INCOME 3,243 2,594 2,825
OTHER INCOME (DEDUCTIONS)
Interest expense (979) (849) (813)
Equity in earnings of equity method investees 58 52 93
Allowance for equity funds used during construction 37 53 35
Interest income 91 78 72
Gains on disposal of assets - net 67 60 18
Other than temporary impairment losses on securities held in nuclear decommissioning funds (16) (58) (148)
Other - net (12) 12 7
Total other deductions - net (754) (652) (736)
INCOME BEFORE INCOME TAXES 2,489 1,942 2,089
INCOME TAXES 532 [1] 327 [1] 450 [1]
NET INCOME  $ 1,957  $ 1,615  $ 1,639
Earnings per share of common stock:
Basic (in dollars per share)  $ 4.77  $ 3.99  $ 4.1
Assuming dilution (in dollars per share)  $ 4.74  $ 3.97  $ 4.07
Dividends per share of common stock (in dollars per share)  $ 2  $ 1.89  $ 1.78
Weighted-average number of common shares outstanding:
Basic (in shares) 410.3 404.4 400.1
Assuming dilution (in shares) 413 407.2 402.7
[1] NextEra Energy Resources' tax expense (benefit) includes PTCs that were recognized based on its tax sharing agreement with NextEra Energy. See Note 1 - Income Taxes.
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CONSOLIDATED BALANCE SHEETS (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
PROPERTY, PLANT AND EQUIPMENT
Electric utility plant in service and other property  $ 48,841  $ 46,330
Nuclear fuel 1,539 1,414
Construction work in progress 3,841 2,425
Less accumulated depreciation and amortization (15,146) (14,091)
Total property, plant and equipment - net ( $2,398 related to VIEs at December 31, 2010) 39,075 36,078
CURRENT ASSETS
Cash and cash equivalents 302 238
Customer receivables, net of allowances of  $20 and  $23, respectively 1,509 1,431
Other receivables, net of allowances of  $1 and  $1, respectively 1,073 816
Materials, supplies and fossil fuel inventory 857 877
Regulatory Assets:
Deferred clause and franchise expenses 368 69
Derivatives 236 68
Other 82 72
Derivatives 506 [1] 357 [1]
Other 325 409
Total current assets 5,258 4,337
OTHER ASSETS
Special use funds 3,742 3,390
Other investments 971 935
Prepaid benefit costs 1,259 1,184
Regulatory Assets:
Securitized storm-recovery costs ( $356 related to a VIE at December 31, 2010) 581 644
Other 329 265
Other 1,779 1,625
Total other assets 8,661 8,043
TOTAL ASSETS 52,994 48,458
CAPITALIZATION
Common stock 4 4
Additional paid-in capital 5,418 5,055
Retained earnings 8,873 7,739
Accumulated other comprehensive income 166 169
Total Common Shareholders Equity 14,461 12,967
Long-term debt ( $1,338 related to VIEs at December 31, 2010) 18,013 16,300
Total capitalization 32,474 29,267
CURRENT LIABILITIES
Commercial Paper 889 2,020
Current maturities of long-term debt 1,920 569
Accounts payable 1,124 992
Customer deposits 634 613
Accrued interest and taxes 462 466
Regulatory Liabilities:
Deferred clause and franchise revenues 47 377
Other 4 2
Derivatives 536 [2] 221 [2]
Accrued construction-related expenditures 371 476
Other 917 713
Total current liabilities 6,904 6,449
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations 1,639 2,418
Accumulated deferred income taxes 5,109 4,860
Regulatory liabilities:
Accrued asset removal costs 2,244 2,251
Asset retirement obligation regulatory expense difference 1,592 671
Other 423 260
Derivatives 243 [3] 170 [3]
Deferral related to differential membership interests ( $949 related to VIEs at December 31, 2010) 949 700
Other 1,417 1,412
Total other liabilities and deferred credits 13,616 12,742
Commitments and Contingencies    
TOTAL CAPITALIZATION AND LIABILITIES  $ 52,994  $ 48,458
[1] At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $23 million and  $4 million (none at FPL), respectively, in margin cash collateral received from counterparties.
[2] At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $23 million and  $75 million (none at FPL), respectively, in margin cash collateral provided to counterparties.
[3] At December 31, 2010, NextEra Energy's balance reflects the netting of approximately  $72 million (none at FPL) in margin cash collateral provided to counterparties.
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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Consolidated Balance Sheets [Abstract]
Total property, plant and equipment - net (related to VIEs)  $ 2,398
Customer receivables, net of allowances 20 23
Other receivables, net of allowances 1 1
Securitized storm-recovery costs (related to a VIE) 356
Long-term debt (related to VIEs) 1,338
Deferral related to differential membership interests (related to VIEs)  $ 949
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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)  $ 1,957  $ 1,615  $ 1,639
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization 1,807 1,765 1,442
Nuclear fuel amortization 285 239 201
Unrealized (gains) losses on marked to market energy contracts (386) 59 (337)
Deferred income taxes 511 273 569
Cost recovery clauses and franchise fees (629) 624 (111)
Changes in prepaid option premiums and derivative settlements 86 (11) (12)
Equity in earnings of equity method investees (58) (52) (93)
Distributions of earnings from equity method investees 74 69 124
Allowance for equity funds used during construction (37) (53) (35)
Gains on disposal of assets - net (67) (60) (18)
Other than temporary impairment losses on securities held in nuclear decommissioning funds 16 58 148
Changes in operating assets and liabilities:
Customer receivables (73) 18 49
Other receivables (29) (13) (26)
Materials, supplies and fossil fuel inventory 22 85 (106)
Other current assets (52) 9 (31)
Other assets 42 (103) (166)
Accounts payable 179 (86) (120)
Customer deposits 21 38 37
Margin cash collateral 61 (110) 49
Income taxes 56 8 (17)
Interest and other taxes (3) 22 30
Other current liabilities 76 (45) 189
Other liabilities (63) (5) (61)
Other - net 38 119 59
Net cash provided by operating activities 3,834 4,463 3,403
Net cash used in investing activities
Capital expenditures of FPL (2,605) (2,522) (2,234)
Independent power and other investments of NextEra Energy Resources (2,899) (3,068) (2,715)
Cash grants under the American Recovery and Reinvestment Act of 2009 588 100 0
Funds received from a spent fuel settlement 44 86 0
Nuclear fuel purchases (274) (362) (247)
Other capital expenditures (68) (54) (40)
Proceeds from sale of securities in special use funds 6,726 4,592 2,235
Purchases of securities in special use funds (6,835) (4,710) (2,315)
Proceeds from sale of other securities 721 773 28
Purchases of other securities (714) (782) (84)
Funding of loan 0 0 (500)
Other - net 32 12 64
Net cash used in investing activities (5,284) (5,935) (5,808)
Net cash provided by financing activities
Issuances of long-term debt 3,724 3,220 3,827
Retirements of long-term debt (769) (1,635) (1,358)
Proceeds from sale of differential membership interests 261 0 0
Net change in short-term debt (1,130) 154 848
Issuances of common stock - net 308 198 41
Dividends on common stock (823) (766) (714)
Other - net (57) 4 6
Net cash provided by financing activities 1,514 1,175 2,650
Net increase (decrease) in cash and cash equivalents 64 (297) 245
Cash and cash equivalents at beginning of year 238 535 290
Cash and cash equivalents at end of year 302 238 535
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest (net of amount capitalized) 916 805 764
Cash paid for income taxes - net 20 61 4
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Assumption of debt in connection with the purchase of independent power projects 35 0 31
Accrued property additions  $ 545  $ 683  $ 448
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CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY (USD  $)
In Millions
Common Stock [Member]
Additional Paid-in Capital [Member]
Unearned ESOP Compensation [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Retained Earnings [Member]
Total
Beginning Balances at Dec. 31, 2007  $ 4 [1]  $ 4,784  $ (114)  $ 116 [2]  $ 5,945  $ 10,735
Balances (in shares) at Dec. 31, 2007 407 [1]
Net income (loss) 0 [1] 0 0 0 [2] 1,639 1,639
Issuances of common stock, net of issuance cost 0 38 [1] 4 0 [2] 0
Issuances of common stock, net of issuance cost (in shares) 1 [1]
Exercise of stock options and other incentive plan activity 0 [1] 53 0 0 [2] 0
Exercise of stock options and other incentive plan activity (in shares) 1 [1]
Dividends on common stock 0 [1] 0 0 0 [2] (714)
Earned compensation under ESOP 0 [1] 30 10 0 [2] 0
Other comprehensive income (loss) 0 [1] 0 0 40 [2] 0
Defined benefit pension and other benefits plans 0 0 0 (167) [2] 0 (167)
Implementation of new accounting rules 0 0 0 (2) [2] 15
Ending Balances at Dec. 31, 2008 4 [1] 4,905 (100) (13) [2] 6,885 11,681
Balance (in shares) at Dec. 31, 2008 409 [1],[3]
Net income (loss) 0 [1] 0 0 0 [2] 1,615 1,615
Issuances of common stock, net of issuance cost 0 [1] 204 4 0 [2] 0
Issuances of common stock, net of issuance cost (in shares) 4 [1]
Exercise of stock options and other incentive plan activity 0 [1] 56 0 0 [2] 0
Exercise of stock options and other incentive plan activity (in shares) 1 [1]
Dividends on common stock 0 [1] 0 0 0 [2] (766)
Earned compensation under ESOP 0 [1] 30 11 0 [2] 0
Other comprehensive income (loss) 0 [1] 0 0 165 [2] 0
Defined benefit pension and other benefits plans 0 [1] 0 0 22 [2] 0 22
Premium on publicly-traded equity units known as Corporate Units 0 [1] (47) 0 0 [2] 0
Unamortized issuance costs on publicly-traded equity units known as Corporate Units 0 [1] (8) 0 0 [2] 0
Implementation of new accounting rules 0 [1] 0 0 (5) [2] 5
Ending Balances at Dec. 31, 2009 4 [1] 5,140 (85) 169 [2] 7,739 12,967
Balance (in shares) at Dec. 31, 2009 414 [1],[3]
Net income (loss) 0 [1] 0 0 0 [2] 1,957 1,957
Issuances of common stock, net of issuance cost 0 [1] 279 5 0 [2] 0
Issuances of common stock, net of issuance cost (in shares) 6 [1]
Exercise of stock options and other incentive plan activity 0 [1] 107 0 0 [2] 0
Exercise of stock options and other incentive plan activity (in shares) 1 [1]
Dividends on common stock 0 [1] 0 0 0 [2] (823)
Earned compensation under ESOP 0 [1] 26 11 0 [2] 0
Other comprehensive income (loss) 0 [1] 0 0 (5) [2] 0
Defined benefit pension and other benefits plans 0 [1] 0 0 2 [2] 0 2
Premium on publicly-traded equity units known as Corporate Units 0 [1] (59) 0 0 [2] 0
Unamortized issuance costs on publicly-traded equity units known as Corporate Units 0 [1] (6) 0 0 [2] 0
Ending Balances at Dec. 31, 2010  $ 4 [1]  $ 5,487  $ (69)  $ 166 [2]  $ 8,873  $ 14,461
Balance (in shares) at Dec. 31, 2010 421 [1],[3]
[1]  $0.01 par value, authorized - 800,000,000 shares; outstanding shares 420,861,536, 413,622,436 and 408,915,305 at December 31, 2010, 2009 and 2008, respectively.
[2] Comprehensive income, which includes net income and other comprehensive income (loss), totaled approximately  $1,954 million,  $1,802 million and  $1,512 million for 2010, 2009 and 2008, respectively.
[3] Outstanding and unallocated shares held by the Employee Stock Ownership Plan (ESOP) Trust totaled approximately 5 million, 6 million and 7 million at December 31, 2010, 2009 and 2008, respectively; the original number of shares purchased and held by the ESOP Trust was approximately 25 million shares.
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CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY (Parenthetical) (USD  $)
In Millions, except Share data
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)  $ 0.01  $ 0.01  $ 0.01
Common stock, authorized (in shares) 800,000,000 800,000,000 800,000,000
Comprehensive income  $ 1,954  $ 1,802  $ 1,512
Outstanding and unallocated shares held by the Employee Stock Ownership Plan (ESOP) Trust (in shares) 5,000,000 6,000,000 7,000,000
Original number of shares purchased and held by the ESOP Trust (in shares) 25,000,000
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Summary of Significant Accounting and Reporting Policies
12 Months Ended
Dec. 31, 2010
Summary of Significant Accounting and Reporting Policies [Abstract]
Summary of Significant Accounting and Reporting Policies
1.  Summary of Significant Accounting and Reporting Policies

Basis of Presentation - The operations of NextEra Energy, Inc. (NextEra Energy), formerly known as FPL Group, Inc., are conducted primarily through its wholly-owned subsidiary Florida Power & Light Company (FPL) and its wholly-owned indirect subsidiary NextEra Energy Resources, LLC (NextEra Energy Resources).  FPL, a rate-regulated public utility, supplies electric service to approximately 4.5 million customer accounts throughout most of the east and lower west coasts of Florida.  NextEra Energy Resources invests in independent power projects through both controlled and consolidated entities and non-controlling ownership interests in joint ventures essentially all of which are accounted for under the equity method.

The consolidated financial statements of NextEra Energy and FPL include the accounts of their respective majority-owned and controlled subsidiaries.  All significant intercompany balances and transactions have been eliminated in consolidation.  Certain amounts included in prior years' consolidated financial statements have been reclassified to conform to the current year's presentation.  See Note 15 for a discussion of a change in allocation of certain costs.  The preparation of financial statements requires the use of estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities.  Actual results could differ from those estimates.

Regulation - FPL is subject to regulation by the Florida Public Service Commission (FPSC) and the Federal Energy Regulatory Commission (FERC).  Its rates are designed to recover the cost of providing electric service to its customers including a reasonable rate of return on invested capital.  As a result of this cost-based regulation, FPL follows the accounting guidance that allows regulators to create assets and impose liabilities that would not be recorded by non-rate regulated entities.  Regulatory assets and liabilities represent probable future revenues that will be recovered from or refunded to customers through the ratemaking process.

Cost recovery clauses, which are designed to permit full recovery of certain costs and provide a return on certain assets allowed to be recovered through the various clauses, include substantially all fuel, purchased power and interchange expenses, conservation and certain environmental-related expenses, certain revenue taxes and franchise fees.  Beginning in 2009, pre-construction costs and carrying charges for FPL's two additional nuclear units at Turkey Point and carrying charges on construction costs for FPL's approximately 400 megawatt (mw) to 460 mw of additional capacity at St. Lucie and Turkey Point are also recovered through a cost recovery clause.  Also beginning in 2009, costs incurred for FPL's three solar generating facilities are recovered through a cost recovery clause.  Once the new combined-cycle natural gas unit at FPL's West County Energy Center (WCEC) Unit No. 3 is placed into service, the incremental cost associated with the new unit up to the amount of the projected fuel savings for customers during the 2010 rate agreement will also be recovered through a cost recovery clause and recorded as retail base revenues.  See Revenues and Rates below.  Revenues from cost recovery clauses are recorded when billed; FPL achieves matching of costs and related revenues by deferring the net underrecovery or overrecovery.  Any underrecovered costs or overrecovered revenues are collected from or returned to customers in subsequent periods.

If FPL were no longer subject to cost-based rate regulation, the existing regulatory assets and liabilities would be written off unless regulators specify an alternative means of recovery or refund.  In addition, the FPSC has the authority to disallow recovery of costs that it considers excessive or imprudently incurred.  The continued applicability of regulatory accounting is assessed at each reporting period.

Revenues and Rates - FPL's retail and wholesale utility rate schedules are approved by the FPSC and the FERC, respectively.  FPL records unbilled base revenues for the estimated amount of energy delivered to customers but not yet billed.  Unbilled base revenues are included in customer receivables and amounted to approximately  $148 million and  $121 million at December 31, 2010 and 2009, respectively.  FPL's operating revenues also include amounts resulting from cost recovery clauses (see Regulation), franchise fees, gross receipts taxes and surcharges related to storm-recovery bonds (see Note 9 - FPL).  Franchise fees and gross receipts taxes are imposed on FPL; however, the FPSC allows FPL to include in the amounts charged to customers the amount of the gross receipts tax for all customers and the franchise amount for those customers located in the jurisdiction that imposes the fee.  Accordingly, franchise fees and gross receipts taxes are reported gross in operating revenues and taxes other than income taxes and other on NextEra Energy's and FPL's consolidated statements of income and were approximately  $687 million,  $791 million and  $781 million in 2010, 2009 and 2008, respectively.  The revenues from the surcharges related to storm-recovery bonds included in operating revenues on NextEra Energy's and FPL's consolidated statements of income were approximately  $101 million,  $91 million and  $97 million in 2010, 2009 and 2008, respectively.  FPL also collects municipal utility taxes which are reported gross in customer receivables and accounts payable on NextEra Energy's and FPL's consolidated balance sheets.
 
Effective March 1, 2010, pursuant to an FPSC final order (FPSC rate order) with regard to FPL’s March 2009 petition (2009 rate case) that requested, among other things, a permanent base rate increase, new retail base rates for FPL were established, resulting in an increase in retail base revenues of approximately  $75 million on an annualized basis.  The FPSC rate order also 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.  In addition, the FPSC rate order directed FPL to reduce depreciation expense (surplus depreciation credit) over the 2010 to 2013 period related to a depreciation reserve surplus of approximately  $895 million.  Subsequently, the principal parties in FPL’s 2009 rate case signed a stipulation and settlement regarding FPL’s base rates (2010 rate agreement) and, on February 1, 2011, the FPSC issued a final order reflecting its decision to approve the 2010 rate agreement.  Key elements of the 2010 rate agreement, which will be effective through December 31, 2012, are as follows:

·
Subject to the provisions of the 2010 rate agreement, retail base rates will be effectively frozen through the end of 2012.
·
Incremental cost recovery through FPL’s capacity cost recovery clause (capacity clause) for WCEC Unit No. 3, which is expected to be placed in service by mid-2011, will be permitted up to the amount of the projected fuel savings for customers during the term of the 2010 rate agreement.
·
Future storm restoration costs would be recoverable on an accelerated basis beginning 60 days from the filing of a cost recovery petition, but capped at an amount that produces a surcharge of no more than  $4 for every 1,000 kilowatt-hours (kwh) of usage on residential bills during the first 12 months of cost recovery.  Any additional costs would be eligible for recovery in subsequent years.  If storm restoration costs exceed  $800 million in any given calendar year, FPL may request an increase to the  $4 surcharge for the amount above  $800 million.
·
If FPL's earned regulatory ROE falls below 9%, FPL may seek retail base rate relief.  If FPL's earned regulatory ROE rises above 11%, any party to the 2010 rate agreement may seek a reduction in FPL’s retail base rates.  In determining the regulatory ROE for all purposes under the 2010 rate agreement, earnings will be calculated on an actual, non-weather-adjusted basis.
·
FPL can vary the amount of surplus depreciation credit taken in any calendar year up to a cap in 2010 of  $267 million, a cap in subsequent years of  $267 million plus the amount of any unused portion from prior years, and a cap of  $776 million (surplus depreciation credit cap) over the course of the 2010 rate agreement, provided that in any year of the 2010 rate agreement, including 2010, FPL must use at least enough surplus depreciation credit to maintain a 9% earned regulatory ROE but may not use any amount of surplus depreciation credit that would result in an earned regulatory ROE in excess of 11%.

NextEra Energy’s and FPL’s financial statements contained herein reflect the effects of the FPSC rate order and the 2010 rate agreement.

Under the terms of a rate agreement approved in 2005 (2005 rate agreement), which was in effect from January 1, 2006 through February 28, 2010, retail base rates did not increase except to allow recovery of the revenue requirements of FPL's three power plants that achieved commercial operation during the term of the 2005 rate agreement:  Turkey Point Unit No. 5 in 2007 and WCEC Units Nos. 1 and 2 in 2009.  Under the terms of the 2005 rate agreement, FPL's electric property depreciation rates were based upon the comprehensive depreciation studies it filed with the FPSC in March 2005; however, FPL reduced depreciation on its plant in service by  $125 million each year as allowed by the 2005 rate agreement.  The 2005 rate agreement also provided for a revenue sharing mechanism, whereby revenues from retail base operations in excess of certain thresholds would be shared with customers.  During the term of the 2005 rate agreement, FPL's revenues did not exceed the thresholds.

NextEra Energy Resources' revenue is recorded on the basis of commodities delivered, contracts settled or services rendered, and includes estimated amounts yet to be billed to customers.  Certain commodity contracts for the purchase and sale of power that meet the definition of a derivative are recorded at fair value with subsequent changes in fair value recognized as revenue, unless hedge accounting is applied.  See Energy Trading and Note 3.
 
Electric Plant, Depreciation and Amortization - The cost of additions to units of property of FPL and NextEra Energy Resources is added to electric utility plant.  In accordance with regulatory accounting, the cost of FPL's units of utility property retired, less estimated net salvage value, is charged to accumulated depreciation.  Maintenance and repairs of property as well as replacements and renewals of items determined to be less than units of utility property are charged to other operations and maintenance (O&M) expenses.  At December 31, 2010, the electric generating, transmission, distribution and general facilities of FPL represented approximately 47%, 12%, 37% and 4%, respectively, of FPL's gross investment in electric utility plant in service.  Substantially all of FPL's properties are subject to the lien of FPL's mortgage, which secures most debt securities issued by FPL.  A number of NextEra Energy Resources' generating facilities are encumbered by liens securing various financings.  The net book value of NextEra Energy Resources' assets serving as collateral was approximately  $8 billion at December 31, 2010.  The American Recovery and Reinvestment Act of 2009, as amended (Recovery Act) provided for an option to elect a cash grant (convertible ITCs) for certain renewable energy property (renewable property).  Convertible ITCs are recorded as a reduction in property, plant and equipment on NextEra Energy's and FPL's consolidated balance sheets and are amortized as a reduction to depreciation and amortization expense over the estimated life of the related property.  During 2010 and 2009, NextEra Energy recorded convertible ITCs of approximately  $1 billion ( $186 million at FPL) and  $517 million ( $44 million at FPL), respectively, of which  $429 million ( $124 million at FPL) and  $417 million ( $44 million at FPL) are included in other receivables on NextEra Energy's and FPL's consolidated balance sheets at December 31, 2010 and 2009, respectively.

Depreciation of FPL's electric property is primarily provided on a straight-line average remaining life basis.  FPL includes in depreciation expense a provision for fossil plant dismantlement, nuclear plant decommissioning (see Decommissioning of Nuclear Plants, Dismantlement of Plants and Other Accrued Asset Removal Costs) and amortization of pre-construction costs associated with planned nuclear units recovered through a cost recovery clause.  For substantially all of FPL's property, depreciation studies are performed and filed with the FPSC at least every four years.  As part of the FPSC rate order, the FPSC approved new depreciation rates which became effective January 1, 2010.  In addition, in accordance with the 2010 rate agreement, FPL can vary the amount of surplus depreciation credit taken in any calendar year up to a maximum of  $267 million (with any unused portion of the maximum rolling over to and available in subsequent years), provided its regulatory ROE remains within the range of 9% to 11%; FPL may use up to a maximum of  $776 million in surplus depreciation credit over the course of the 2010 rate agreement.  As of December 31, 2010, approximately  $772 million of the surplus depreciation credit cap remains.  Under the terms of the 2005 rate agreement, FPL's electric property depreciation rates were based upon the comprehensive depreciation studies it filed with the FPSC in March 2005; however FPL reduced depreciation by  $125 million annually as was allowed by the 2005 rate agreement.  The weighted annual composite depreciation rate for FPL's electric plant in service, including capitalized software, but excluding the effects of decommissioning, dismantlement and the depreciation adjustments discussed above, was approximately 3.2% for 2010 and 3.6% for both 2009 and 2008.  NextEra Energy Resources' electric plants in service less salvage value, if any, are depreciated primarily using the straight-line method over their estimated useful lives.  NextEra Energy Resources' effective depreciation rates, excluding decommissioning, were 4.4%, 4.2% and 4.3% for 2010, 2009 and 2008, respectively.

Nuclear Fuel - FPL and NextEra Energy Resources have several contracts for the supply of uranium, conversion, enrichment and fabrication of nuclear fuel.  See Note 14 - Contracts.  FPL's and NextEra Energy Resources' nuclear fuel costs are charged to fuel expense on a unit of production method.  See Note 9 - FPL regarding the leasing of nuclear fuel from a consolidated variable interest entity (VIE) by FPL prior to March 2010.

Construction Activity - Allowance for funds used during construction (AFUDC) is a non-cash item which represents the allowed cost of capital, including an ROE, used to finance FPL construction projects.  The portion of AFUDC attributable to borrowed funds is recorded as a reduction of interest expense and the remainder is recorded as other income.  FPSC rules limit the recording of AFUDC to projects that cost in excess of 0.5% of a utility's plant in service balance and require more than one year to complete.  FPSC rules allow construction projects below the 0.5% threshold as a component of rate base.  During the period January 2010 through March 2010 and during April 2010 through December 2010, AFUDC was capitalized at a rate of 7.41% and 6.41%, respectively, and amounted to approximately  $50 million for the year.  During 2009 and 2008, AFUDC was capitalized at a rate of 7.41% and 7.65%, respectively, and amounted to approximately  $74 million and  $53 million, respectively.  See Note 14 - Commitments.

FPL's construction work in progress includes construction materials, progress payments on major equipment contracts, third-party engineering costs, AFUDC and other costs directly associated with the construction of various projects.  Upon completion of the projects, these costs are transferred to electric utility plant in service.  Capitalized costs associated with construction activities are charged to O&M expenses when recoverability is no longer probable.  See Regulation above for information on recovery of costs associated with new nuclear capacity and solar generating facilities.

NextEra Energy Resources capitalizes project development costs once it is probable that such costs will be realized through the ultimate construction of a power plant or sale of development rights.  At December 31, 2010 and 2009, NextEra Energy Resources' capitalized development costs totaled approximately  $99 million and  $56 million, respectively, which are included in other assets on NextEra Energy's consolidated balance sheets.  These costs include land rights and other third-party costs directly associated with the development of a new project.  Upon commencement of construction, these costs either are transferred to construction work in progress or remain in other assets, depending upon the nature of the cost.  Capitalized development costs are charged to O&M expenses when recoverability is no longer probable.
 
NextEra Energy Resources' construction work in progress includes construction materials, prepayments on turbine generators and other equipment, third-party engineering costs, capitalized interest and other costs directly associated with the construction and development of the project.  Interest capitalized on construction projects amounted to approximately  $71 million,  $85 million and  $55 million during 2010, 2009 and 2008, respectively.  Interest expense allocated from NextEra Energy Capital Holdings, Inc. (Capital Holdings), formerly known as FPL Group Capital Inc, to NextEra Energy Resources is based on a deemed capital structure of 70% debt.  Upon commencement of plant operation, costs associated with construction work in progress are transferred to electric utility plant in service and other property.

Asset Retirement Obligations - NextEra Energy and FPL each account for asset retirement obligations and conditional asset retirement obligations (collectively, AROs) under accounting guidance that requires a liability for the fair value of an ARO to be recognized in the period in which it is incurred if it can be reasonably estimated, with the offsetting associated asset retirement costs capitalized as part of the carrying amount of the long-lived assets.  The asset retirement cost is subsequently allocated to expense using a systematic and rational method over the asset’s estimated useful life.  Changes in the ARO resulting from the passage of time are recognized as an increase in the carrying amount of the liability and as accretion expense, which is included in depreciation and amortization expense in the consolidated statements of income.  Changes resulting from revisions to the timing or amount of the original estimate of cash flows are recognized as an increase or a decrease in the asset retirement cost and ARO and regulatory liability, in the case of FPL.  See Decommissioning of Nuclear Plants, Dismantlement of Plants and Other Accrued Asset Removal Costs below and Note 13.

Decommissioning of Nuclear Plants, Dismantlement of Plants and Other Accrued Asset Removal Costs - For ratemaking purposes, FPL accrues for the cost of end of life retirement and disposal of its nuclear, fossil and solar plants over the expected service life of each unit based on nuclear decommissioning and fossil and solar dismantlement studies periodically filed with the FPSC.  In addition, FPL accrues for interim removal costs over the life of the related assets based on depreciation studies approved by the FPSC.  As approved by the FPSC, FPL previously suspended its annual decommissioning accrual.  For financial reporting purposes, FPL recognizes decommissioning and dismantlement liabilities in accordance with accounting guidance that requires a liability for the fair value of an ARO to be recognized in the period in which it is incurred.  Any differences between expense recognized for financial reporting purposes and the amount recoverable through rates are reported as a regulatory liability in accordance with regulatory accounting.  See Electric Plant, Depreciation and Amortization, Asset Retirement Obligations and Note 13.

Nuclear decommissioning studies are performed at least every five years and are submitted to the FPSC for approval.  FPL filed updated nuclear decommissioning studies with the FPSC in December 2010.  These studies reflect FPL's current plans, under the operating licenses, for prompt dismantlement of Turkey Point Units Nos. 3 and 4 following the end of plant operation with decommissioning activities commencing in 2032 and 2033, respectively, and provide for St. Lucie Unit No. 1 to be mothballed beginning in 2036 with decommissioning activities to be integrated with the prompt dismantlement of St. Lucie Unit No. 2 at the end of its useful life in 2043.  These studies also assume that FPL will be storing spent fuel on site pending removal to a U.S. government facility.  The studies indicate FPL's portion of the ultimate costs of decommissioning its four nuclear units, including costs associated with spent fuel storage above what is expected to be refunded by the U.S. Department of Energy (DOE) under a spent fuel settlement agreement, to be approximately  $6.2 billion.  FPL's portion of the ultimate cost of decommissioning its four units, expressed in 2010 dollars, is estimated by the studies to aggregate  $2.3 billion.

Restricted funds for the payment of future expenditures to decommission FPL's nuclear units are included in nuclear decommissioning reserve funds, which are included in special use funds on NextEra Energy's and FPL's consolidated balance sheets.  Marketable securities held in the decommissioning funds are classified as available for sale and are carried at fair value with market adjustments, including any other than temporary impairment losses, resulting in a corresponding adjustment to the related regulatory liability accounts consistent with regulatory treatment.  See Note 5.  Contributions to the funds have been suspended since 2005.  Fund earnings, net of taxes, are reinvested in the funds.  Earnings are recognized as income/loss and an offset is recorded to reflect a corresponding increase/decrease in the related regulatory liability accounts.  As a result, there is no effect on net income.  During 2010, 2009 and 2008, fund earnings on decommissioning funds were approximately  $76 million,  $81 million and  $63 million, respectively.  The tax effects of amounts not yet recognized for tax purposes are included in accumulated deferred income taxes.

Fossil and solar plant dismantlement studies are performed at least every four years and are submitted to the FPSC for approval.  FPL's latest fossil and solar plant dismantlement studies became effective January 1, 2010 and resulted in an increase in the annual expense from  $15 million to  $18 million which is recorded in depreciation and amortization expense in NextEra Energy's and FPL's consolidated statements of income.  At December 31, 2010, FPL's portion of the ultimate cost to dismantle its fossil and solar units is approximately  $860 million, or  $455 million expressed in 2010 dollars.
 
NextEra Energy Resources records nuclear decommissioning liabilities for Seabrook Station (Seabrook), Duane Arnold Energy Center (Duane Arnold) and Point Beach Nuclear Power Plant (Point Beach) in accordance with accounting guidance that requires a liability for the fair value of an ARO to be recognized in the period in which it is incurred.  The liability is being accreted using the interest method through the date decommissioning activities are expected to be complete.  See Note 13.  At December 31, 2010 and 2009, NextEra Energy Resources' ARO related to nuclear decommissioning totaled approximately  $478 million and  $518 million, respectively, and was determined using various internal and external data and applying a probability percentage to a variety of scenarios regarding the life of the plant and timing of decommissioning.  NextEra Energy Resources' portion of the ultimate cost of decommissioning its nuclear plants, including costs associated with spent fuel storage above what is expected to be refunded by the DOE under a spent fuel settlement agreement, is estimated to be approximately  $9.5 billion, or  $1.8 billion expressed in 2010 dollars.

Seabrook's decommissioning funding plan is based on a comprehensive nuclear decommissioning study filed with the New Hampshire Nuclear Decommissioning Financing Committee (NDFC) in 2007 and is effective for four years.  Currently, there are no ongoing decommissioning funding requirements for Duane Arnold and Point Beach, however, the U.S. Nuclear Regulatory Commission (NRC) has the authority to require additional funding in the future.  NextEra Energy Resources' portion of Seabrook's, Duane Arnold's and Point Beach's restricted funds for the payment of future expenditures to decommission these plants is included in nuclear decommissioning reserve funds, which are included in special use funds on NextEra Energy's consolidated balance sheets.  Marketable securities held in the decommissioning funds are classified as available for sale and are carried at fair value.  Market adjustments result in a corresponding adjustment to other comprehensive income (OCI), except for unrealized losses associated with marketable securities considered to be other than temporary, including any credit losses, which are recognized as other than temporary impairment losses on securities held in nuclear decommissioning funds in NextEra Energy's consolidated statements of income.  Fund earnings are recognized in income and are reinvested in the funds either on a pretax or after-tax basis.  See Note 5.  The tax effects of amounts not yet recognized for tax purposes are included in accumulated deferred income taxes.

Major Maintenance Costs - FPL uses the accrue-in-advance method for recognizing costs associated with planned major nuclear maintenance, in accordance with regulatory treatment, and records the related accrual as a regulatory liability.  FPL expenses costs associated with planned fossil maintenance as incurred.  FPL's estimated nuclear maintenance costs for each nuclear unit's next planned outage are accrued over the period from the end of the last outage to the end of the next planned outage.  Any difference between the estimated and actual costs is included in O&M expenses when known.  The accrued liability for nuclear maintenance costs at December 31, 2010 and 2009 totaled approximately  $58 million and  $47 million, respectively, and is included in regulatory liabilities - other.  For the years ended December 31, 2010, 2009 and 2008, FPL recognized approximately  $100 million,  $84 million and  $75 million, respectively, in nuclear maintenance costs which are included in O&M expenses in NextEra Energy's and FPL's consolidated statements of income.

NextEra Energy Resources uses the deferral method to account for certain planned major maintenance costs.  NextEra Energy Resources' major maintenance costs for its nuclear generating units and combustion turbines are capitalized and amortized on a unit of production method over the period from the end of the last outage to the beginning of the next planned outage.  NextEra Energy Resources' capitalized major maintenance costs, net of accumulated amortization, totaled approximately  $95 million and  $106 million at December 31, 2010 and 2009, respectively, and are included in other assets.  For the years ended December 31, 2010, 2009 and 2008, NextEra Energy Resources recognized approximately  $88 million,  $73 million and  $57 million in major maintenance costs which are included in O&M expenses in NextEra Energy's consolidated statements of income.

Cash Equivalents - Cash equivalents consist of short-term, highly liquid investments with original maturities of three months or less.

Restricted Cash - At December 31, 2010 and 2009, NextEra Energy had approximately  $111 million ( $39 million for FPL) and  $134 million ( $33 million for FPL), respectively, of restricted cash included in other current assets on NextEra Energy's and FPL's consolidated balance sheets, which is restricted primarily for margin cash collateral and debt service payments.  Where offsetting positions exist, restricted cash related to margin cash collateral is netted against derivative instruments.  See Note 3.

Allowance for Doubtful Accounts - FPL maintains an accumulated provision for uncollectible customer accounts receivable that is estimated using a percentage, derived from historical revenue and write-off trends, of the previous five months of revenue.  Additional amounts are included in the provision to address specific items that are not considered in the calculation described above.  NextEra Energy Resources regularly reviews collectibility of its receivables and establishes a provision for losses estimated as a percentage of accounts receivable based on the historical bad debt write-off trends for its retail electricity provider operations and, when necessary, using the specific identification method for all other receivables.

Inventory - FPL values materials, supplies and fossil fuel inventory using a weighted-average cost method.  NextEra Energy Resources' materials, supplies and fossil fuel inventories are carried at the lower of weighted-average cost or market, unless evidence indicates that the weighted-average cost (even if in excess of market) will be recovered with a normal profit upon sale in the ordinary course of business.
 
Energy Trading - NextEra Energy provides full energy and capacity requirements services primarily to distribution utilities, which include load-following services and various ancillary services, in certain markets and engages in power and gas marketing and trading activities to optimize the value of electricity and fuel contracts and generating facilities, as well as to take advantage of expected favorable commodity price movements.  Trading contracts that meet the definition of a derivative are accounted for at fair value and realized gains and losses from all trading contracts, including those where physical delivery is required, are recorded net for all periods presented.  See Note 3.

Securitized Storm-Recovery Costs, Storm Fund and Storm Reserve - In connection with the 2007 storm-recovery bond financing (see Note 9 - FPL), the net proceeds to FPL from the sale of the storm-recovery property were used primarily to reimburse FPL for its estimated net of tax deficiency in its storm and property insurance reserve (storm reserve) and provide for a storm and property insurance reserve fund (storm fund).  Upon the issuance of the storm-recovery bonds, the storm reserve deficiency was reclassified to securitized storm-recovery costs and is recorded as a regulatory asset on NextEra Energy's and FPL's consolidated balance sheets.  As storm-recovery charges are billed to customers, the securitized storm-recovery costs are amortized, the amount of which is included in depreciation and amortization on NextEra Energy's and FPL's consolidated statements of income.  Marketable securities held in the storm fund are classified as available for sale and are carried at fair value with market adjustments, including any other than temporary impairment losses, resulting in a corresponding adjustment to the storm reserve.  Fund earnings, net of taxes, are reinvested in the fund.  The tax effects of amounts not yet recognized for tax purposes are included in accumulated deferred income taxes.  The storm fund is included in special use funds on NextEra Energy's and FPL's consolidated balance sheets and was approximately  $125 million and  $123 million at December 31, 2010 and 2009, respectively.  See Note 5.

The storm reserve that was reestablished in an FPSC financing order related to the issuance of the storm-recovery bonds is not reflected in NextEra Energy's and FPL's consolidated balance sheets as of December 31, 2010 or 2009 because the associated regulatory asset does not meet the specific recognition criteria under regulatory accounting guidance.  As a result, the storm reserve will be recognized as a regulatory liability as the storm-recovery charges are billed to customers and charged to depreciation and amortization on NextEra Energy's and FPL's consolidated statements of income.  Although NextEra Energy's and FPL's consolidated balance sheets as of December 31, 2010 reflect a storm reserve of approximately  $43 million (included in regulatory liabilities - other on NextEra Energy's and FPL's consolidated balance sheets), FPL had the capacity to absorb up to approximately  $205 million in future prudently incurred storm restoration costs without seeking recovery through a rate adjustment from the FPSC or filing a petition with the FPSC.

Impairment of Long-Lived Assets - NextEra Energy evaluates on an ongoing basis the recoverability of its assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.  An impairment loss is required to be recognized if the carrying value of the asset exceeds the undiscounted future net cash flows associated with that asset.  The impairment loss to be recognized is the amount by which the carrying value of the long-lived asset exceeds the asset's fair value.  In most instances, the fair value is determined by discounting estimated future cash flows using an appropriate interest rate.

Goodwill and Other Intangible Assets - NextEra Energy's goodwill and other intangible assets are as follows:

 
Weighted Average
Useful Lives
 
December 31,
 
(Years)
 
2010
 
2009
       
(millions)
Goodwill:
               
Merchant reporting unit
     
 $
72
 
 $
72
Wind reporting unit
       
45
   
41
Total goodwill
     
 $
117
 
 $
113
                 
Other intangible assets:
               
Purchase power agreements
19
   
 $
87
 
 $
87
Customer lists
7
     
34
   
28
Other, primarily land and transmission rights, permits and licenses
27
     
249
   
216
Total
       
370
   
331
Less accumulated amortization
       
93
   
78
Total other intangible assets - net
     
 $
277
 
 $
253

NextEra Energy Resources has recorded goodwill related to various acquisitions which were accounted for using the purchase method of accounting.  NextEra Energy Resources' other intangible assets are amortized, primarily on a straight-line basis, over their estimated useful lives.  For the years ended December 31, 2010, 2009 and 2008, amortization expense was approximately  $18 million,  $14 million and  $13 million, respectively, and is expected to be approximately  $14 million,  $13 million,  $10 million,  $8 million and  $6 million for 2011, 2012, 2013, 2014 and 2015, respectively.
NextEra Energy Resources' goodwill and other intangible assets are included in other assets on NextEra Energy's consolidated balance sheets.  Goodwill is assessed for impairment at least annually by applying a fair value-based test.  Other intangible assets are periodically reviewed when impairment indicators are present to assess recoverability from future operations using undiscounted future cash flows.

Pension and Other Postretirement Plans - NextEra Energy allocates net periodic pension benefit income to its subsidiaries based on the pensionable earnings of the subsidiaries' employees; net periodic supplemental executive retirement plan (SERP) benefit costs to its subsidiaries based upon actuarial calculations by participant; and postretirement health care and life insurance benefits (other benefits) net periodic benefit costs to its subsidiaries based upon the number of eligible employees at each subsidiary.

NextEra Energy's regulatory assets and liabilities were established in association with the implementation of accounting guidance in a prior year which requires recognition of the funded status of benefit plans in the balance sheet, with changes in the funded status recognized in comprehensive income within shareholders' equity in the year in which the changes occur.  Since NextEra Energy is the plan sponsor, and its subsidiaries do not have separate rights to the plan assets or direct obligations to their employees, the results of implementing the accounting guidance were reflected at NextEra Energy and not allocated to the subsidiaries.  The portion of previously unrecognized actuarial gains and losses, prior service costs or credits and transition obligations that were estimated to be allocable to FPL as net periodic benefit (income) cost in future periods and that otherwise would have been recorded in accumulated other comprehensive income (AOCI) were classified as regulatory assets and liabilities at NextEra Energy in accordance with regulatory treatment.

Stock-Based Compensation - NextEra Energy accounts for stock-based payment transactions based on grant-date fair value.  Compensation costs for awards with graded vesting are recognized on a straight-line basis over the requisite service period for the entire award.  See Note 11 - Stock-Based Compensation.

Retirement of Long-Term Debt - Gains and losses that result from differences in FPL's reacquisition cost and the book value of long-term debt which is retired are deferred as a regulatory asset or liability and amortized to interest expense ratably over the remaining life of the original issue, which is consistent with its treatment in the ratemaking process.  Capital Holdings recognizes such differences as other income (deductions) at the time of retirement.

Income Taxes - Deferred income taxes are provided on all significant temporary differences between the financial statement and tax bases of assets and liabilities.  In connection with the tax sharing agreement between NextEra Energy and its subsidiaries, the income tax provision at each subsidiary reflects the use of the "separate return method," except that tax benefits that could not be used on a separate return basis, but are used on the consolidated tax return, are recorded by the subsidiary that generated the tax benefits.  Any remaining consolidated income tax benefits or expenses are recorded at the corporate level.  Included in other regulatory assets on NextEra Energy's and FPL's consolidated balance sheets is the revenue equivalent of the difference in accumulated deferred income taxes computed under accounting rules, as compared to regulatory accounting rules.  This amount totaled  $151 million and  $137 million at December 31, 2010 and 2009, respectively, and is being amortized in accordance with the regulatory treatment over the estimated lives of the assets or liabilities for which the deferred tax amount was initially recognized.  Investment tax credits (ITCs) for FPL are deferred and amortized to income over the approximate lives of the related property in accordance with the regulatory treatment.  At December 31, 2010 and 2009, deferred ITCs were approximately  $7 million and  $8 million, respectively, and are included in other regulatory liabilities on NextEra Energy's and FPL's consolidated balance sheets.  NextEra Energy Resources recognizes ITCs as a reduction to income tax expense when the related energy property is placed into service.  Production tax credits (PTCs) are recognized as wind energy is generated and sold based on a per kwh rate prescribed in applicable federal and state statutes and are recorded as a reduction of current income taxes payable, unless limited by tax law in which instance they are recorded as deferred tax assets.  NextEra Energy and FPL record a deferred income tax benefit created by the convertible ITCs on the difference between the financial statement and tax bases of renewable property.  For NextEra Energy Resources, this deferred income tax benefit is recorded in income tax expense in the year that the renewable property is placed in service.  For FPL, this deferred income tax benefit is offset by a regulatory liability, which is amortized as a reduction of depreciation expense over the approximate lives of the related renewable property in accordance with the regulatory treatment.  At December 31, 2010 and 2009, the net deferred income tax benefits associated with the convertible ITCs were approximately  $58 million and  $14 million, respectively, and are included in other regulatory assets and regulatory liabilities on NextEra Energy's and FPL's consolidated balance sheets.  A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets when it is more likely than not that such assets will not be realized.  All tax positions taken by NextEra Energy in its income tax returns that are recognized in the financial statements must satisfy a more-likely-than-not threshold.  See Note 6.
 
Sale of Differential Membership Interests - Certain indirect wholly-owned subsidiaries of NextEra Energy Resources sold their Class B membership interest in entities that have ownership interests in wind facilities to third-party investors.  Information related to these sales is as follows:

Date
 
Proceeds
 
Generating Capacity
 
Wind Facilities
   
(millions)
 
(mw)
   
                 
December 2007
   
 $705
   
598
 
Logan Wind, Mower County Wind, Oliver County Wind I and II, and Peetz Table Wind
April 2010
   
 $190
   
170
 
Ashtabula Wind II and Wilton Wind II
September 2010
   
 $75
(a)
 
309
 
Crystal Lake I, Langdon Wind and Langdon Wind II
¾¾¾¾¾¾¾¾¾¾
(a)  
NextEra Energy will receive future capital contributions from the third-party investor on a semi-annual basis through December 31, 2018 based on the amount of PTCs generated by the facilities.  At December 31, 2010, the future capital contributions are expected to total approximately  $207 million based on projected wind generation.

In exchange for the cash received, the holders of the Class B membership interests will receive a portion of the economic attributes of the facilities, including tax attributes, for a variable period.  Recognition of the proceeds from the sale of the differential membership interests was deferred and is recorded in deferral related to differential membership interests on NextEra Energy's consolidated balance sheets.  The deferred amount is being recognized as an adjustment to taxes other than income taxes and other in NextEra Energy's consolidated statements of income as the Class B members receive their portion of the economic attributes.  NextEra Energy continues to operate and manage the wind facilities, and consolidates the entities that own the wind facilities.

Guarantees - NextEra Energy's and FPL's payment guarantees and related contracts provided to unconsolidated entities entered into after December 31, 2002, for which it or a subsidiary is the guarantor, are recorded at fair value.  See Note 14 - Commitments.

Variable Interest Entities (VIEs) - 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 VIEs.  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.  NextEra Energy and FPL evaluate whether an entity is a VIE whenever reconsideration events as defined by the accounting guidance occur.  See Note 9.

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Employee Retirement Benefits
12 Months Ended
Dec. 31, 2010
Employee Retirement Benefits [Abstract]
Employee Retirement Benefits
2.  Employee Retirement Benefits

Employee Benefit Plans and Other Postretirement Plan - NextEra Energy sponsors a qualified noncontributory defined benefit pension plan for substantially all employees of NextEra Energy and its subsidiaries.  NextEra Energy also has a SERP, which includes a non-qualified supplemental defined benefit pension component that provides benefits to a select group of management and highly compensated employees.  The impact of this SERP component is included within pension benefits in the following tables, and was not material to NextEra Energy's financial statements for the years ended December 31, 2010, 2009 and 2008.  In addition to pension benefits, NextEra Energy sponsors a contributory postretirement plan for other benefits for retirees of NextEra Energy and its subsidiaries meeting certain eligibility requirements.
 
Plan Assets, Benefit Obligations and Funded Status - The changes in assets and benefit obligations of the plans and the plans' funded status are as follows:

   
Pension Benefits
  
Other Benefits
 
   
2010
  
2009
  
2010
  
2009
 
   
(millions)
 
              
Change in plan assets:
            
Fair value of plan assets at January 1
  $3,028   $2,503   $32   $29 
Actual return on plan assets
  380   656   2   5 
Employer contributions(a)
  3   -   28   29 
Transfers(b)
  (29 )  (29 )  -   - 
Participant contributions
  -   -   9   7 
Benefit payments(a)
  (149 )  (102 )  (39 )  (38 )
Fair value of plan assets at December 31
  $3,233   $3,028   $32   $32 
                  
Change in benefit obligation:
                
Obligation at January 1
  $1,866   $1,604   $430   $367 
Service cost
  59   51   6   5 
Interest cost
  102   109   23   24 
Participant contributions
  -   -   9   7 
Plan amendments(c)
  1   3   -   (1 )
Special termination benefits(d)
  13   -   -   - 
Actuarial losses (gains) - net
  102   201   (12 )  66 
Benefit payments
  (149 )  (102 )  (39 )  (38 )
Obligation at December 31(e)
  $1,994   $1,866   $417   $430 
                  
Funded status:
                
Prepaid (accrued) benefit cost at NextEra Energy at December 31
  $1,239   $1,162   $(385)  $(398)
Prepaid (accrued) benefit cost at FPL at December 31
  $1,027   $1,009   $(279)  $(282)
¾¾¾¾¾¾¾¾¾¾
(a)  
Employer contributions and benefit payments include only those amounts contributed directly to, or paid directly from, plan assets.  FPL's portion of contributions related to SERP benefits was  $1 million for 2010.  FPL's portion of contributions related to other benefits was  $26 million and  $27 million for 2010 and 2009, respectively.
(b)  
Represents amounts that were transferred from the qualified pension plan as reimbursement for eligible retiree medical expenses paid by NextEra Energy pursuant to the provisions of the Internal Revenue Code (IRC).
(c)  
Primarily relates to union negotiated credits, IRC transfers and various SERP and other benefits amendments.
(d)
Reflects an enhanced early retirement program offered during 2010.
(e)  
NextEra Energy's accumulated benefit obligation, which includes no assumption about future salary levels, for its pension plans at December 31, 2010 and 2009 was  $1,935 million and  $1,804 million, respectively.

NextEra Energy's and FPL's prepaid (accrued) benefit cost shown above are included in the consolidated balance sheets as follows:

   
NextEra Energy
 
FPL
 
   
Pension Benefits
  
Other Benefits
 
Pension Benefits
  
Other Benefits
 
   
2010
  
2009
  
2010
 
2009
 
2010
  
2009
  
2010
  
2009
 
           
(millions)
          
                          
Prepaid benefit costs
  $1,259   $1,184   $-   $-   $1,035   $1,017   $-   $- 
Accrued benefit cost included in other current liabilities
  (3 )  (2 )  (27 )  (29 )  (2 )  (2 )  (23 )  (24 )
Accrued benefit cost included in other liabilities
  (17 )  (20 )  (358 )  (369 )  (6 )  (6 )  (256 )  (258 )
Prepaid (accrued) benefit cost at December 31
  $1,239   $1,162   $(385)  $(398)  $1,027   $1,009   $(279)  $(282)

NextEra Energy's unrecognized amounts included in accumulated other comprehensive income (loss) yet to be recognized as components of prepaid (accrued) benefit cost are as follows:

   
Pension Benefits
 
Other Benefits
 
   
2010
 
2009
 
2010
 
2009
 
         
(millions)
       
Components of AOCI:
                         
Unrecognized prior service benefit (cost) (net of  $2 and  $2 tax benefit, respectively)
 
 $
(4
)
 $
(3
)
 $
-
 
 $
-
 
Unrecognized transition obligation (net of  $1 and  $1 tax benefit, respectively)
   
-
   
-
   
(1
)
 
(1
)
Unrecognized gain (loss) (net of  $5 tax expense,  $4 tax expense,  $5 tax benefit and  $6 tax benefit, respectively)
   
8
   
7
   
(4
)
 
(6
)
Total
 
 $
4
(a)
 $
4
 
 $
(5
)(b)
 $
(7
)
¾¾¾¾¾¾¾¾¾¾
(a)  
Approximately  $1 million of prior service benefits is expected to be reclassified into earnings within the next 12 months.
(b)  
Approximately  $1 million of transition obligations is expected to be reclassified into earnings within the next 12 months.
 
NextEra Energy's unrecognized amounts included in regulatory assets (liabilities) yet to be recognized as components of net prepaid (accrued) benefit cost are as follows:

 
Regulatory Assets (Liabilities)
(Pension)
 
Regulatory Assets
(SERP and Other)
 
 
2010
 
2009
 
2010
 
2009
 
 
(millions)
 
                         
Unrecognized prior service cost
 $
13
 
 $
10
 
 $
1
 
 $
2
 
Unrecognized transition obligation
 
-
   
-
   
4
   
7
 
Unrecognized (gain) loss
 
(64
)
 
(28
)
 
37
   
45
 
Total
 $
(51
)(a)
 $
(18
)
 $
42
(b)
 $
54
 
¾¾¾¾¾¾¾¾¾¾
(a)  
Approximately  $1 million of prior service benefits will be reclassified into earnings within the next 12 months.
(b)  
Approximately  $2 million of transition obligations will be reclassified into earnings within the next 12 months.

The following table provides the weighted-average assumptions used to determine benefit obligations for the plans.  These rates are used in determining net periodic benefit cost in the following year.

 
Pension Benefits
 
Other Benefits
 
2010
 
2009
 
2010
 
2009
               
Discount rate
5.00%
 
5.50%
 
5.25%
 
5.50%
Salary increase
4.00%
 
4.00%
 
4.00%
 
4.00%

The projected 2011 trend assumption used to measure the expected cost of health care benefits covered by the plans for those under age 65 is 7.60% for medical and 8.20% for prescription drug benefits and for those age 65 and over is 7.25% for medical and 7.75% for prescription drug benefits.  These rates are assumed to decrease over the next 8 years for medical benefits and 10 years for prescription drug benefits to the ultimate trend rate of 5.50% and remain at that level thereafter.  The ultimate trend rate is assumed to be reached in 2018 for medical benefits and 2020 for prescription drug benefits.  Assumed health care cost trend rates have an effect on the amounts reported for postretirement plans providing health care benefits.  An increase or decrease of one percentage point in assumed health care cost trend rates would have a corresponding effect on the other benefits accumulated obligation of approximately  $3 million at December 31, 2010.

NextEra Energy's investment policy for the pension plan recognizes the benefit of protecting the plan's funded status, thereby avoiding the necessity of future employer contributions.  Its broad objectives are to achieve a high rate of total return with a prudent level of risk taking while maintaining sufficient liquidity and diversification to avoid large losses and preserve capital over the long term.

NextEra Energy's pension plan fund has a strategic asset allocation that targets a mix of 45% equity investments, 45% fixed income investments and 10% convertible bonds.  The fund's investment strategy emphasizes traditional investments, broadly diversified across the global equity and fixed income markets, using a combination of different investment styles and vehicles.  The pension fund's equity investments include direct equity holdings and assets classified as equity commingled vehicles.  Similarly, its fixed income investments include direct debt security holdings and assets classified as debt security commingled vehicles.  These equity and debt security commingled vehicles include common and collective trusts, pooled separate accounts, registered investment companies or other forms of pooled investment arrangements.

With regard to its other benefits plan, NextEra Energy's policy is to fund claims as incurred during the year through NextEra Energy contributions, participant contributions and plan assets.  The other benefits plan's assets are invested with a focus on assuring the availability of funds to pay benefits while maintaining sufficient diversification to avoid large losses and preserve capital.  The other benefits plan's fund has a strategic asset allocation that targets a mix of 60% equity investments and 40% fixed income investments.  The fund's investment strategy emphasizes traditional investments, diversified across the global equity and fixed income markets.  The fund's equity investments are comprised of assets classified as equity commingled vehicles.  Similarly, its fixed income investments are comprised of assets classified as debt security commingled vehicles.  These equity and debt commingled vehicles include common and collective trusts, pooled separate accounts, registered investment companies or other forms of pooled investment arrangements.
 
The fair value measurements of NextEra Energy's pension plan assets by fair value hierarchy level are as follows:

 
December 31, 2010(a)
 
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
 
(millions)
                       
Equity
 $
800
(b)
 $
6
 
 $
-
 
 $
806
Equity commingled vehicles
 
-
   
669
(c)
 
11
   
680
U.S. Government and municipal bonds
 
60
   
35
   
-
   
95
Corporate debt securities(d)
 
-
   
335
   
-
   
335
Mortgage-backed securities
 
-
   
263
   
-
   
263
Debt security commingled vehicles(e)
 
-
   
744
   
-
   
744
Convertible bonds
 
-
   
310
   
-
   
310
Total
 $
860
 
 $
2,362
 
 $
11
 
 $
3,233
¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
See Note 4 for discussion of NextEra Energy's fair value measurement techniques.
(b)  
Includes foreign investments of  $293 million.
(c)  
Includes foreign investments of  $219 million.
(d)  
Includes foreign investments of  $47 million.
(e)  
Includes foreign investments of  $56 million and  $206 million of short-term commingled vehicles.

 
December 31, 2009(a)
 
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
 
(millions)
                       
Equity
 $
424
 
 $
-
 
 $
-
 
 $
424
Equity commingled vehicles(b)
 
-
   
941
   
-
   
941
U.S. Government and municipal bonds
 
77
   
30
   
-
   
107
Corporate debt securities(c)
 
-
   
399
   
-
   
399
Mortgage-backed securities
 
-
   
361
   
-
   
361
Debt security commingled vehicles(d)
 
-
   
503
   
-
   
503
Convertible bonds
 
-
   
293
   
-
   
293
Total
 $
501
 
 $
2,527
 
 $
-
 
 $
3,028
¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
See Note 4 for discussion of NextEra Energy's fair value measurement techniques.
(b)  
Includes foreign investments of  $499 million.
(c)  
Includes foreign investments of  $45 million.
(d)  
Includes foreign investments of  $56 million and  $53 million of short-term commingled vehicles.

The fair value measurements, all of which were Level 2, of NextEra Energy's other benefits plan assets at December 31, 2010 and 2009 were approximately  $20 million and  $19 million of equity commingled vehicles (of which  $5 million and  $4 million were foreign investments) and  $12 million and  $13 million of debt security commingled vehicles, respectively.

Expected Cash Flows - NextEra Energy anticipates paying approximately  $28 million for eligible retiree medical expenses on behalf of the other benefits plan during 2011 with substantially all amounts being reimbursed through a transfer of assets from the qualified pension plan.
 
The following table provides information about benefit payments expected to be paid by the plans, net of government drug subsidy, for each of the following calendar years:

   
Pension
Benefits
  
Other
Benefits
 
   
(millions)
 
        
2011
  $173   $34 
2012
  $167   $35 
2013
  $169   $34 
2014
  $163   $32 
2015
  $159   $32 
2016 - 2020
  $814   $153 

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

 
Pension Benefits
 
Other Benefits
 
 
2010
 
2009
 
2008
 
2010
 
2009
 
2008
 
             
(millions)
             
                                     
Service cost
 $
59
 
 $
51
 
 $
54
 
 $
6
 
 $
5
 
 $
5
 
Interest cost
 
102
   
109
   
102
   
23
   
24
   
25
 
Expected return on plan assets
 
(241
)
 
(239
)
 
(240
)
 
(2
)
 
(3
)
 
(3
)
Amortization of transition obligation
 
-
   
-
   
-
   
3
   
4
   
4
 
Amortization of prior service benefit
 
(3
)
 
(3
)
 
(4
)
 
-
   
-
   
-
 
Amortization of gains
 
1
   
(23
)
 
(29
)
 
-
   
-
   
-
 
SERP settlements
 
1
   
-
   
-
   
-
   
-
   
-
 
Special termination benefits
 
13
   
-
   
-
   
-
   
-
   
-
 
Net periodic benefit (income) cost at NextEra Energy
 $
(68
)
 $
(105
)
 $
(117
)
 $
30
 
 $
30
 
 $
31
 
Net periodic benefit (income) cost at FPL
 $
(42
)
 $
(73
)
 $
(84
)
 $
23
 
 $
23
 
 $
24
 

Other Comprehensive Income - The components of net periodic benefit income (cost) recognized in OCI for the plans are as follows:

   
Pension Benefits
  
Other Benefits
 
   
2010
  
2009
  
2010
  
2009
 
      
(millions)
    
              
Prior service cost
  $-   $(1)  $-   $- 
Net gains (losses) (net of none,  $24 tax expense,  $1 tax expense and  $7 tax benefit, respectively)
  1   38   2   (10 )
Transition obligation
  -   -   -   (1 )
Amortization of prior service benefit
  (1 )  (1 )  -   - 
Amortization of net gains (net of  $3 tax benefit)
  -   (4 )  -   - 
Amortization of transition obligation
  -   -   -   1 
Total
  $-   $32   $2   $(10)

Regulatory Assets (Liabilities) - The components of net periodic benefit (income) cost recognized during the year in regulatory assets (liabilities) for the plans are as follows:

   
Regulatory
Assets (Liabilities)
(Pension)
  
Regulatory Assets
(SERP and Other)
 
   
2010
  
2009
  
2010
  
2009
 
   
(millions)
 
              
Prior service cost
  $1   $2   $-   $- 
Unrecognized (gains) losses
  (35 )  (159 )  (9 )  51 
Transition obligation
  -   -   -   (2 )
Amortization of prior service benefit
  2   3   -   - 
Amortization of gains
  -   16   -   - 
Amortization of transition obligation
  -   -   (2 )  (3 )
Total
  $(32)  $(138)  $(11)  $46 
 
The weighted-average assumptions used to determine net periodic benefit (income) cost for the plans are as follows:

 
Pension Benefits
 
Other Benefits
 
2010
 
2009
 
2008
 
2010
 
2009
 
2008
                       
Discount rate
5.50%
 
6.90%
 
6.25%
 
5.50%
 
6.90%
 
6.35%
Salary increase
4.00%
 
4.00%
 
4.00%
 
4.00%
 
4.00%
 
4.00%
Expected long-term rate of return(a)
7.75%
 
7.75%
 
7.75%
 
8.00%
 
8.00%
 
8.00%
¾¾¾¾¾¾¾¾¾¾
(a)  
In developing the expected long-term rate of return on assets assumption for its plans, NextEra Energy evaluated input from its actuaries as well as information available in the marketplace.  NextEra Energy considered the 10-year and 20-year historical median returns for a portfolio with an equity/bond asset mix similar to its funds.  NextEra Energy also considered its funds' historical compounded returns.  No specific adjustments were made to reflect expectations of future returns.

Assumed health care cost trend rates have an effect on the amounts reported for postretirement plans providing health care benefits.  An increase or decrease of one percentage point in assumed health care cost trend rates would have a corresponding effect on the total service and interest cost recognized at December 31, 2010 by less than  $1 million.

Employee Contribution Plans - NextEra Energy offers employee retirement savings plans which allow eligible participants to contribute a percentage of qualified compensation through payroll deductions.  NextEra Energy makes matching contributions to participants' accounts.  Defined contribution expense pursuant to these plans was approximately  $34 million,  $38 million and  $37 million for NextEra Energy ( $26 million,  $28 million and  $28 million for FPL) for the years ended December 31, 2010, 2009 and 2008, respectively.  See Note 11 - Employee Stock Ownership Plan.

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Derivative Instruments
12 Months Ended
Dec. 31, 2010
Derivative Instruments [Abstract]
Derivative Instruments
3.  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 outstanding and forecasted 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 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 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 consolidated statements of income.  Settlement gains and losses are included within the line items in the consolidated statements of income to which they relate.  Settlements related to derivative instruments are primarily recognized in net cash provided by operating activities in NextEra Energy's and FPL's consolidated statements of cash flows.
 
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 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 OCI and is reclassified into earnings in the period(s) during which the transaction being hedged affects earnings.  See Note 7.  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 December 31, 2010, NextEra Energy's AOCI included amounts related to the discontinued commodity cash flow hedges which have expiration dates through December 2012.  Additionally, at December 31, 2010, NextEra Energy had interest rate cash flow hedges with expiration dates through September 2028 and foreign currency cash flow hedges with expiration dates through September 2030.

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

 
NextEra Energy
 
FPL
 
 
December 31,
 
December 31,
 
 
2010
 
2009
 
2010
 
2009
 
 
(millions)
 
                         
Current derivative assets(a)
 $
506
 
 $
357
 
 $
8
(b)
 $
10
(b)
Noncurrent other assets(c)
 
589
   
329
   
1
   
4
 
Current derivative liabilities(d)
 
(536
)
 
(221
)
 
(245
)
 
(77
)
Noncurrent derivative liabilities(e)
 
(243
)
 
(170
)
 
-
   
(1
)(f)
Total mark-to-market derivative instrument assets (liabilities)
 $
316
 
 $
295
 
 $
(236
)
 $
(64
)
¾¾¾¾¾¾¾¾¾¾
(a)  
At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $23 million and  $4 million (none at FPL), respectively, in margin cash collateral received from counterparties.
(b)  
Included in current other assets on FPL's consolidated balance sheets.
(c)  
At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $43 million and  $1 million (none at FPL), respectively, in margin cash collateral received from counterparties.
(d)  
At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $23 million and  $75 million (none at FPL), respectively, in margin cash collateral provided to counterparties.
(e)  
At December 31, 2010, NextEra Energy's balance reflects the netting of approximately  $72 million (none at FPL) in margin cash collateral provided to counterparties.
(f)  
Included in noncurrent other liabilities on FPL's consolidated balance sheets.

At December 31, 2010 and 2009, NextEra Energy had approximately  $7 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 consolidated balance sheets.  Additionally, at December 31, 2010 and 2009, NextEra Energy had approximately  $58 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 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 December 31, 2010 and 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.

   
December 31, 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
  -   64   -   51 
Noncurrent other assets
  91   -   61   - 
Noncurrent derivative liabilities
  -   59   -   27 
Foreign currency swaps:
                
Current derivative assets
  24   -   -   - 
Current derivative liabilities
  -   4   -   - 
Noncurrent other assets
  11   -   5   - 
Total
  $142   $127   $217   $98 

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

   
Year Ended
December 31, 2010
 
Year Ended
December 31, 2009
   
Commodity
Contracts
 
Interest
Rate
Swaps
 
Foreign
Currency
Swaps
 
Total
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Foreign
Currency
Swap
 
Total
   
(millions)
                                                 
Gains (losses) recognized in OCI
 
 $
20
 
 $
(52
)
 $
24
 
 $
(8
)
 $
197
 
 $
28
 
 $
3
 
 $
228
Gains (losses) reclassified from AOCI to net income
 
 $
118
(a)
 $
(65
)(b)
 $
20
(c)
 $
73
 
 $
164
(a)
 $
(39
)(b)
 $
4
(e)
 $
129
Gains (losses) recognized in income(d)
 
 $
1
(a)
 $
-
 
 $
-
 
 $
1
 
 $
29
(a)
 $
-
 
 $
-
 
 $
29
¾¾¾¾¾¾¾¾¾¾
(a)  
Included in operating revenues.
(b)  
Included in interest expense.
(c)  
Loss of approximately  $4 million is included in interest expense and the balance is included in other - net.
(d)  
Represents the ineffective portion of the hedging instrument.
(e)  
Loss of approximately  $1 million is included in interest expense and the balance is included in other - net.

For the year ended December 31, 2010, NextEra Energy recorded a gain of approximately  $11 million on three fair value hedges which is reflected in interest expense in the consolidated statements of income and resulted in a corresponding increase in the related debt.  For the year ended December 31, 2009, NextEra Energy recorded a loss of  $6 million on a fair value hedge which is reflected in interest expense in the 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.

   
December 31, 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
 
 $
754
 
 $
278
 
 $
9
(a)
 $
1
(a)
 $
611
 
 $
303
 
 $
11
(a)
 $
1
(a)
Current derivative liabilities
   
1,848
   
2,339
   
12
   
257
   
1,002
   
1,288
   
18
   
95
 
Noncurrent other assets
   
687
   
157
   
1
   
-
   
921
   
699
   
4
   
-
 
Noncurrent derivative liabilities
   
828
   
1,084
   
-
   
-
   
128
   
260
   
-
   
1
(b)
Foreign currency swap:
                                                 
Current derivative assets
   
13
   
-
   
-
   
-
   
-
   
-
   
-
   
-
 
Noncurrent derivative liabilities
   
-
   
-
   
-
   
-
   
-
   
6
   
-
   
-
 
Total
 
 $
4,130
 
 $
3,858
 
 $
22
 
 $
258
 
 $
2,662
 
 $
2,556
 
 $
33
 
 $
97
 
¾¾¾¾¾¾¾¾¾¾
(a)  
Included in current other assets on FPL's consolidated balance sheets.
(b)  
Included in noncurrent other liabilities on FPL's consolidated balance sheets.

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

 
Year Ended December 31,
 
 
2010
 
2009
 
 
(millions)
 
Commodity contracts:
           
Operating revenues
 $
531
(a)
 $
279
(a)
Fuel, purchased power and interchange
 
1
   
28
 
Foreign currency swap:
           
Other - net
 
18
   
(3
)
Total
 $
550
 
 $
304
 
¾¾¾¾¾¾¾¾¾¾
(a)  
In addition, for the year ended December 31, 2010 and 2009, FPL recorded approximately  $665 million and  $688 million of losses, respectively, related to commodity contracts as regulatory assets on its 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 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 December 31, 2010, NextEra Energy and FPL had derivative commodity contracts for the following net notional volumes:

Commodity Type
 
NextEra Energy
 
FPL
   
(millions)
         
Power
 
(62
)
mwh(a)
 
-
 
Natural gas
 
1,009
 
mmbtu(b)
 
794
 mmbtu(b)
¾¾¾¾¾¾¾¾¾¾
(a)  
Megawatt-hours
(b)  
One million British thermal units

At December 31, 2010, NextEra Energy had 23 interest rate swaps with a notional amount totaling approximately  $4.3 billion and three foreign currency swaps with a notional amount totaling approximately  $408 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 December 31, 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 Capital Holdings' and FPL's credit ratings were downgraded to BBB/Baa2 (a two level downgrade for FPL and a one level downgrade for Capital Holdings from the current lowest applicable rating), NextEra Energy would be required to post collateral such that the total posted collateral would be approximately  $400 million ( $100 million at FPL).  If Capital Holdings' 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  $2.1 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  $600 million ( $100 million at FPL).

Collateral may be posted in the form of cash or credit support.  At December 31, 2010, NextEra Energy had posted approximately  $115 million ( $5 million 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 Capital Holdings 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
12 Months Ended
Dec. 31, 2010
Fair Value Measurements [Abstract]
Fair Value Measurements
4.  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.  Non-performance risk is also considered in the determination of fair value for all assets and liabilities measured at fair value, including the consideration of a credit valuation adjustment.

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 indirectly through commingled funds.  Substantially all directly held equity securities are valued at their quoted market prices.  For directly held debt securities, multiple prices and price types are obtained from pricing vendors whenever possible, which enables cross-provider validations.  A primary price source is identified based on asset type, class or issue of each security.  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.

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.

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 full requirements 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 outstanding and forecasted debt issuances and borrowings.  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:

   
December 31, 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
 
 $
-
 
 $
122
 
 $
-
 
 $
-
 
 $
122
 
FPL - equity securities
 
 $
-
 
 $
7
 
 $
-
 
 $
-
 
 $
7
 
Special use funds:
                               
NextEra Energy:
                               
Equity securities
 
 $
741
 
 $
1,245
(b)
 $
-
 
 $
-
 
 $
1,986
 
U.S. Government and municipal bonds
 
 $
495
 
 $
127
 
 $
-
 
 $
-
 
 $
622
 
Corporate debt securities
 
 $
-
 
 $
486
 
 $
-
 
 $
-
 
 $
486
 
Mortgage-backed securities
 
 $
-
 
 $
447
 
 $
-
 
 $
-
 
 $
447
 
Other debt securities
 
 $
-
 
 $
108
 
 $
-
 
 $
-
 
 $
108
 
FPL:
                               
Equity securities
 
 $
125
 
 $
1,082
(b)
 $
-
 
 $
-
 
 $
1,207
 
U.S. Government and municipal bonds
 
 $
458
 
 $
111
 
 $
-
 
 $
-
 
 $
569
 
Corporate debt securities
 
 $
-
 
 $
334
 
 $
-
 
 $
-
 
 $
334
 
Mortgage-backed securities
 
 $
-
 
 $
381
 
 $
-
 
 $
-
 
 $
381
 
Other debt securities
 
 $
-
 
 $
41
 
 $
-
 
 $
-
 
 $
41
 
Other investments:
                               
NextEra Energy:
                               
Equity securities
 
 $
3
 
 $
1
 
 $
-
 
 $
-
 
 $
4
 
U.S. Government and municipal bonds
 
 $
8
 
 $
4
 
 $
-
 
 $
-
 
 $
12
 
Corporate debt securities
 
 $
-
 
 $
32
 
 $
-
 
 $
-
 
 $
32
 
Mortgage-backed securities
 
 $
-
 
 $
58
 
 $
-
 
 $
-
 
 $
58
 
Other
 
 $
5
 
 $
10
 
 $
-
 
 $
-
 
 $
15
 
Derivatives:
                               
NextEra Energy:
                               
Commodity contracts
 
 $
1,755
 
 $
1,538
 
 $
824
 
 $
(3,177
)
 $
940
(c)
Interest rate swaps
 
 $
-
 
 $
107
 
 $
-
 
 $
-
 
 $
107
(c)
Foreign currency swaps
 
 $
-
 
 $
48
 
 $
-
 
 $
-
 
 $
48
(c)
FPL - commodity contracts
 
 $
-
 
 $
14
 
 $
8
 
 $
(13
)
 $
9
(c)
Liabilities:
                               
Derivatives:
                               
NextEra Energy:
                               
Commodity contracts
 
 $
1,821
 
 $
1,509
 
 $
528
 
 $
(3,206
)
 $
652
(c)
Interest rate swaps
 
 $
-
 
 $
123
 
 $
-
 
 $
-
 
 $
123
(c)
Foreign currency swaps
 
 $
-
 
 $
4
 
 $
-
 
 $
-
 
 $
4
(c)
FPL - commodity contracts
 
 $
-
 
 $
257
 
 $
1
 
 $
(13
)
 $
245
(c)
¾¾¾¾¾¾¾¾¾¾
(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  $1,084 million ( $980 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 3 for a reconciliation of net derivatives to NextEra Energy's and FPL's 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)
¾¾¾¾¾¾¾¾¾¾
(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 3 for a reconciliation of net derivatives to NextEra Energy's and FPL's consolidated balance sheets.
 
The reconciliation of changes in the fair value of derivatives that are based on significant unobservable inputs is as follows:

   
Year Ended December 31,
 
   
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)
  407   -   555   - 
Included in regulatory assets and liabilities
  1   1   7   7 
Purchases, sales, settlements and net option premiums
  (432 )  (5 )  (521 )  6 
Net transfers in/out(b)
  (44 )  -   (81 )  (1 )
Fair value of net derivatives based on significant unobservable inputs at December 31
  $296   $7   $364   $11 
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)
  $170   $-   $270   $- 
¾¾¾¾¾¾¾¾¾¾
(a)  
For the year ended December 31, 2010 and 2009,  $384 million and  $555 million, respectively, of realized and unrealized gains are reflected in operating revenues in the consolidated statements of income.  For the year ended December 31, 2010,  $23 million of realized and unrealized gains are reflected in fuel, purchased power and interchange in the consolidated statements of income.
(b)  
For the year ended December 31, 2010, gross transfers of  $2 million into Level 3 were a result of decreased observability of market data, and gross transfers of  $46 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 year ended December 31, 2010 and 2009,  $153 million and  $270 million, respectively, of unrealized gains are reflected in operating revenues in the consolidated statements of income.  For the year ended December 31, 2010,  $17 million of unrealized gains are reflected in fuel, purchased power and interchange in the consolidated statements of income.

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Financial Instruments
12 Months Ended
Dec. 31, 2010
Financial Instruments [Abstract]
Financial Instruments
5.  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 indicates the impairment is 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 December 31, 2010 and 2009, other investments of NextEra Energy, not included in the table below, included financial instruments of approximately  $97 million and  $44 million, respectively, including  $48 million and  $5 million included in other current receivables on the consolidated balance sheets, 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.

   
December 31, 2010
 
December 31, 2009
 
   
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
 
   
(millions)
 
NextEra Energy:
     
Special use funds
 
 $
3,742
(a)
 $
3,742
(b)
 $
3,390
(a)
 $
3,390
(b)
Other investments:
                         
Notes receivable
 
 $
525
 
 $
583
(c)
 $
534
 
 $
556
(c)
Debt securities
 
 $
114
(d)
 $
114
(b)
 $
104
(d)
 $
104
(b)
Equity securities
 
 $
57
 
 $
125
(e)
 $
45
 
 $
105
(e)
Long-term debt, including current maturities
 
 $
19,929
 
 $
20,756
(f)
 $
16,869
 
 $
17,256
(f)
Interest rate swaps - net unrealized losses
 
 $
(16
)
 $
(16
)(g)
 $
(17
)
 $
(17
)(g)
Foreign currency swaps - net unrealized gains (losses)
 
 $
44
 
 $
44
(g)
 $
(1
)
 $
(1
)(g)
                           
FPL:
                         
Special use funds
 
 $
2,637
(a)
 $
2,637
(b)
 $
2,408
(a)
 $
2,408
(b)
Long-term debt, including current maturities
 
 $
6,727
 
 $
7,236
(f)
 $
5,836
 
 $
6,055
(f)
¾¾¾¾¾¾¾¾¾¾
(a)  
At December 31, 2010, includes  $76 million of investments accounted for under the equity method and  $17 million of loans not measured at fair value on a recurring basis ( $94 million and  $11 million, respectively, for FPL).  For the remaining balance, see Note 4 for classification by major security type.  The amortized cost of debt and equity securities is  $1,616 million and  $1,489 million, respectively, at December 31, 2010 and  $1,638 million and  $1,396 million, respectively, at December 31, 2009 ( $1,281 million and  $943 million, respectively, at December 31, 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.  Notes receivable are considered impaired and placed in non-accrual status when it becomes probable that all amounts due cannot be collected in accordance with the contractual terms of the agreement.  The assessment to place notes receivable in non-accrual status considers various credit indicators, such as credit standings and ratings and market-related information.  As of December 31, 2010, neither NextEra Energy nor FPL had any material notes receivable reported in non-accrual status.
(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  $3,617 million and  $2,512 million, respectively, at December 31, 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 4).  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 other than temporary impairment losses on securities held in nuclear decommissioning funds in NextEra Energy's consolidated statements of income.  Debt securities included in the nuclear decommissioning funds have a weighted-average maturity at December 31, 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 December 31, 2010 of approximately three years.  The cost of securities sold is determined using the specific identification method.

Realized gains and losses and proceeds from the sale of available for sale securities are as follows:

 
NextEra Energy
 
FPL
 
 
Years Ended December 31,
 
Years Ended December 31,
 
 
2010
 
2009
 
2008
 
2010
 
2009
 
2008
 
 
(millions)
 
                    
Realized gains
  $106   $108   $50   $49   $48   $38 
Realized losses
  $30   $30   $54   $22   $25   $50 
Proceeds from sale of securities
  $6,726   $4,592   $2,235   $5,079   $3,270   $1,454 
 
Unrealized losses on available for sale debt securities at December 31, 2010 and 2009 were not material to NextEra Energy or FPL.  The unrealized gains on available for sale securities are as follows:

   
NextEra Energy
 
FPL
 
   
December 31,
 
December 31,
 
   
2010
 
2009
 
2010
  
2009
 
     
(millions)
    
              
Equity securities
  $612   $400   $384   $240 
U.S. Government and municipal bonds
  $15   $14   $15   $13 
Corporate debt securities
  $23   $21   $19   $16 
Mortgage-backed securities
  $20   $22   $18   $18 
Other debt securities
  $2   $1   $1   $1 

Regulations issued by the FERC and the 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 Seabrook, decommissioning fund contributions and withdrawals are also regulated by the NDFC 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, with respect to certain debt issuances and borrowings, Capital Holdings has entered into cross currency swaps, two to hedge against currency movements with respect to both interest and principal payments and another to hedge against currency and interest rate movements with respect to both interest and principal payments.  See Note 3.

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Income Taxes
12 Months Ended
Dec. 31, 2010
Income Taxes [Abstract]
Income Taxes
6.  Income Taxes

The components of income taxes are as follows:

   
NextEra Energy
  
FPL
 
   
Years Ended December 31,
  
Years Ended December 31,
 
   
2010
  
2009
  
2008
  
2010
  
2009
  
2008
 
   
(millions)
 
Federal:
                  
Current(a)
  $11   $(18)  $(132)  $113   $63   $117 
Deferred
  434   290   542   385   342   259 
Total federal
  445   272   410   498   405   376 
State:
                        
Current(a)
  11   77   29   49   57   34 
Deferred
  76   (22 )  11   33   11   33 
Total state
  87   55   40   82   68   67 
Total income taxes
  $532   $327   $450   $580   $473   $443 
¾¾¾¾¾¾¾¾¾¾
(a)  
Includes provision for unrecognized tax benefits.
 
A reconciliation between the effective income tax rates and the applicable statutory rates is as follows:

   
NextEra Energy
  
FPL
 
   
Years Ended December 31,
  
Years Ended December 31,
 
   
2010
  
2009
  
2008
  
2010
  
2009
  
2008
 
                    
Statutory federal income tax rate
  35.0 %  35.0 %  35.0 %  35.0 %  35.0 %  35.0 %
Increases (reductions) resulting from:
                        
State income taxes - net of federal income tax benefit
  2.4   1.9   1.3   3.5   3.4   3.5 
Allowance for other funds used during construction
  (0.5 )  (1.0 )  (0.6 )  (0.8 )  (1.5 )  (1.1 )
Amortization of ITCs - FPL
  (0.1 )  (0.4 )  (0.7 )  (0.2 )  (0.6 )  (1.2 )
PTCs and ITCs - NextEra Energy Resources
  (12.2 )  (13.1 )  (12.7 )  -   -   - 
Convertible ITCs - NextEra Energy Resources
  (2.5 )  (4.3 )  -   -   -   - 
Other - net
  (0.7 )  (1.2 )  (0.7 )  0.5   -   (0.3 )
Effective income tax rate
  21.4 %  16.9 %  21.6 %  38.0 %  36.3 %  35.9 %

The income tax effects of temporary differences giving rise to consolidated deferred income tax liabilities and assets are as follows:

 
NextEra Energy
 
FPL
 
December 31,
 
December 31,
 
2010
 
2009
 
2010
 
2009
 
(millions)
Deferred tax liabilities:
                     
Property-related
 $
7,795
 
 $
6,968
 
 $
4,532
 
 $
4,202
Pension
 
485
   
457
   
399
   
392
Storm reserve deficiency
 
258
   
279
   
258
   
279
Nuclear decommissioning trusts
 
146
   
201
   
-
   
-
Net unrealized gains on derivatives
 
226
   
116
   
-
   
-
Deferred fuel costs
 
101
   
-
   
101
   
-
Other
 
638
   
371
   
187
   
157
Total deferred tax liabilities
 
9,649
   
8,392
   
5,477
   
5,030
                       
Deferred tax assets and valuation allowance:
                     
Decommissioning reserves
 
393
   
379
   
323
   
313
Postretirement benefits
 
175
   
183
   
130
   
133
Net operating loss carryforwards
 
663
(a)
 
270
(a)
 
-
   
-
Tax credit carryforwards
 
1,819
(b)
 
1,364
(b)
 
-
   
-
ARO and accrued asset removal costs
 
895
   
896
   
802
   
811
Other
 
790
   
683
   
309
   
249
Valuation allowance(c)
 
(246
)
 
(129
)
 
-
   
-
Net deferred tax assets
 
4,489
   
3,646
   
1,564
   
1,506
Net accumulated deferred income taxes
 $
5,160
 
 $
4,746
 
 $
3,913
 
 $
3,524
¾¾¾¾¾¾¾¾¾¾
(a)  
Reflects  $42 million and  $(26) million, respectively, of tax carryforwards related to NextEra Energy's unrecognized tax benefits.
(b)  
Amount is presented net of  $52 million and  $58 million, respectively, of tax carryforwards that are available to offset NextEra Energy's liability for unrecognized tax benefits.
(c)  
Amount relates to deferred state tax credits and state operating loss carryforwards.

Deferred tax assets and liabilities are included in the consolidated balance sheets as follows:

   
NextEra Energy
 
FPL
 
   
December 31,
 
December 31,
 
   
2010
 
2009
 
2010
  
2009
 
     
(millions)
    
              
Other current assets
  $17   $128   $-   $- 
Other assets
  106   -   -   - 
Other current liabilities
  (174 )  (14 )  (78 )  (15 )
Accumulated deferred income taxes
  (5,109 )  (4,860 )  (3,835 )  (3,509 )
Net accumulated deferred income taxes
  $(5,160)  $(4,746)  $(3,913)  $(3,524)
 
The components of NextEra Energy's deferred tax assets relating to net operating loss carryforwards and tax credit carryforwards at December 31, 2010 are as follows:

 
Amount
 
Expiration
Dates
 
(millions)
   
         
Net operating loss carryforwards:
       
Federal
 $
484
(a)
2026 - 2030
State
 
170
 
2014 - 2030
Foreign
 
9
 
2021 - 2030
Net operating loss carryforwards
 $
663
   
         
Tax credit carryforwards:
       
Federal
 $
1,539
(b)
2022 - 2030
State
 
280
 
2011 - 2035
Net tax credit carryforwards
 $
1,819
   
¾¾¾¾¾¾¾¾¾¾
(a)  
Amount includes  $42 million of tax carryforwards related to NextEra Energy's unrecognized tax benefits.
(b)  
Amount is presented net of  $52 million of tax carryforwards that are available to offset NextEra Energy's liability for unrecognized tax benefits.

The majority of the liabilities for unrecognized tax benefits represent tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.  A disallowance of the shorter deductibility period for these tax positions would not affect the annual effective income tax rate.  Included in the liabilities for unrecognized tax benefits at December 31, 2010 is approximately  $6 million at NextEra Energy ( $1 million at FPL) that, if disallowed, could impact the annual effective income tax rate.

NextEra Energy recognizes interest income (expense) related to unrecognized tax benefits (liabilities) in interest income and interest expense, respectively, net of the amount deferred at FPL.  At FPL, the offset to accrued interest receivable (payable) on income taxes is classified as a regulatory liability (regulatory asset) which will be amortized to income (expense) over a five-year period upon settlement in accordance with regulatory treatment.  At December 31, 2010 and 2009, NextEra Energy accrued approximately  $135 million and  $135 million for net interest receivable ( $18 million and  $38 million for FPL), respectively.  For the years ended December 31, 2010 and 2009, NextEra Energy recorded  $(13) million and  $9 million of interest.  Of this amount,  $16 million and  $13 million of interest income was recognized in NextEra Energy's consolidated statements of income and net deferred charges of  $(29) million and  $(4) million, respectively, were recognized in regulatory liabilities and regulatory assets on NextEra Energy's and FPL's consolidated balance sheets.

A reconciliation of unrecognized tax benefits is as follows:

   
NextEra Energy
  
FPL
 
   
2010
  
2009
  
2008
  
2010
  
2009
  
2008
 
   
(millions)
 
                    
Balance at beginning of year
  $279   $249   $320   $247   $217   $281 
Additions based on tax positions related to the current year
  4   24   14   -   24   13 
Reductions based on tax positions related to the current year
  -   -   (44 )  -   -   (44 )
Additions for tax positions of the prior years
  67   26   91   53   26   89 
Reductions for tax positions of the prior years
  (86 )  (20 )  (40 )  (85 )  (20 )  (30 )
Reductions relating to settlements with taxing authorities
  -   -   (92 )  -   -   (92 )
Balance at end of year(a)
  264   279   249   215   247   217 
Tax carryforwards, deposits and other receivables
  (259 )  (239 )  (219 )  (184 )  (192 )  (176 )
Balance at end of year, net
  $5   $40   $30   $31   $55   $41 
¾¾¾¾¾¾¾¾¾¾
(a)  
Amounts are net of the federal tax benefit of state tax positions of approximately  $15 million,  $16 million and  $14 million ( $11 million,  $12 million and  $11 million for FPL), respectively.
 
NextEra Energy and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states, the most significant of which is Florida, and certain foreign jurisdictions.  NextEra Energy and FPL are effectively no longer subject to U.S. federal, state and foreign examinations by taxing authorities for years before 2003.  NextEra Energy is in the process of finalizing a settlement with the Internal Revenue Service (IRS) with respect to the 1988 through 2005 tax years.  The settlement primarily relates to NextEra Energy’s and FPL’s method for certain deductions for repairs, casualty losses and indirect service costs.  This settlement is subject to the approval of the Joint Committee on Taxation.  Income tax returns for 2006, 2007 and 2008 are under examination by the IRS.  The amounts of unrecognized tax benefits and related interest accruals may change within the next twelve months; however, NextEra Energy and FPL do not expect these changes to have a significant impact on NextEra Energy’s or FPL’s financial statements.

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Comprehensive Income
12 Months Ended
Dec. 31, 2010
Comprehensive Income [Abstract]
Comprehensive Income
7.  Comprehensive Income

The components of NextEra Energy's comprehensive income and accumulated other comprehensive income (loss) are as follows:

     
Accumulated
Other Comprehensive Income (Loss)
   
 
Net
Income
 
Net
Unrealized
Gains
(Losses)
On Cash
Flow Hedges
 
Other
 
Total
 
Comprehensive
Income
 
(millions)
                                 
Balances, December 31, 2007
     
 $
(81
)
 $
197
 
 $
116
         
Net income of NextEra Energy
 $
1,639
                     
 $
1,639
 
Net unrealized gains (losses) on cash flow hedges:
                               
Effective portion of net unrealized gains
       
(4
)
 
-
   
(4
)
   
(4
)
Reclassification from AOCI to net income (net of  $66 tax expense)
       
90
   
-
   
90
     
90
 
Net unrealized losses on available for sale securities (net of  $30 tax benefit)
       
-
   
(46
)
 
(46
)
   
(46
)
Adjustments between AOCI and retained earnings
       
-
   
(1
)
 
(1
)
   
-
 
Defined benefit pension and other benefits plans (net of  $104 tax benefit)
       
-
   
(168
)
 
(168
)
   
(167
)
Balances, December 31, 2008
       
5
   
(18
)
 
(13
)
 
 $
1,512
 
Net income of NextEra Energy
 $
1,615
                     
 $
1,615
 
Net unrealized gains (losses) on cash flow hedges:
                               
Effective portion of net unrealized gains (net of  $90 tax expense)
       
137
   
-
   
137
     
137
 
Reclassification from AOCI to net income (net of  $50 tax benefit)(a)
       
(75
)
 
-
   
(75
)
   
(75
)
Net unrealized gains (losses) on available for sale securities:
                               
Net unrealized gains on securities still held (net of  $77 tax expense)
       
-
   
119
   
119
     
119
 
Reclassification from AOCI to net income (net of  $17 tax benefit)
       
-
   
(27
)
 
(27
)
   
(27
)
Adjustments between AOCI and retained earnings
       
-
   
(5
)
 
(5
)
   
-
 
Defined benefit pension and other benefits plans (net of  $14 tax expense)
       
-
   
22
   
22
     
22
 
Net unrealized gains on foreign currency translation (net of  $5 tax expense)
       
-
   
11
   
11
     
11
 
Balances, December 31, 2009
       
67
   
102
   
169
   
 $
1,802
 
Net income of NextEra Energy
 $
1,957
                     
 $
1,957
 
Net unrealized gains (losses) on cash flow hedges:
                               
Effective portion of net unrealized losses (net of  $3 tax benefit)
       
(5
)
 
-
   
(5
)
   
(5
)
Reclassification from AOCI to net income (net of  $35 tax benefit)
       
(38
)
 
-
   
(38
)
   
(38
)
Net unrealized gains (losses) on available for sale securities:
                               
Net unrealized gains on securities still held (net of  $41 tax expense)
       
-
   
60
   
60
     
60
 
Reclassification from AOCI to net income (net of  $16 tax benefit)
       
-
   
(21
)
 
(21
)
   
(21
)
Defined benefit pension and other benefits plans (net of  $1 tax expense)
       
-
   
2
   
2
     
2
 
Net unrealized losses on foreign currency translation
       
-
   
(1
)
 
(1
)
   
(1
)
Balances, December 31, 2010
     
 $
24
(b)
 $
142
(c)
 $
166
   
 $
1,954
 
¾¾¾¾¾¾¾¾¾¾
(a)  
Includes amounts reclassified into earnings due to discontinuance of cash flow hedges of approximately  $3 million (net of  $2 million tax benefit) for which the hedged transactions are no longer probable of occurring.
(b)  
Approximately  $4 million of losses, related to derivative instruments, is 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.
(c)  
Approximately  $1 million of prior service benefits and approximately  $1 million of transition obligations is expected to be reclassified into earnings within the next twelve months.
 
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Jointly-Owned Electric Plants
12 Months Ended
Dec. 31, 2010
Jointly-Owned Electric Plants [Abstract]
Jointly-Owned Electric Plants
8.  Jointly-Owned Electric Plants

Certain NextEra Energy subsidiaries own undivided interests in the jointly-owned facilities described below, and are entitled to a proportionate share of the output from those facilities.  The subsidiaries are responsible for their share of the operating costs, as well as providing their own financing.  Accordingly, each subsidiary includes its proportionate share of the facilities and related revenues and expenses in the appropriate balance sheet and statement of income captions.  NextEra Energy's and FPL's respective shares of direct expenses for these facilities are included in fuel, purchased power and interchange, O&M expenses, depreciation and amortization expense and taxes other than income taxes and other on NextEra Energy's and FPL's consolidated statements of income.

NextEra Energy's and FPL's proportionate ownership interest in jointly-owned facilities is as follows:

 
December 31, 2010
 
Ownership
Interest
 
Gross
Investment(a)
 
Accumulated
Depreciation(a)
 
Construction Work
in Progress
   
(millions)
                             
FPL:
                           
St. Lucie Unit No. 2
85
%
 
 $
1,359
   
 $
585
   
 $
199
 
St. Johns River Power Park units and coal terminal
20
%
 
 $
391
   
 $
152
   
 $
3
 
Scherer Unit No. 4
76
%
 
 $
703
   
 $
218
   
 $
251
 
NextEra Energy Resources:
                           
Duane Arnold
70
%
 
 $
324
   
 $
62
   
 $
27
 
Seabrook
88.23
%
 
 $
848
   
 $
141
   
 $
71
 
Wyman Station Unit No. 4
84.35
%
 
 $
104
   
 $
39
   
 $
-
 
Corporate and Other:
                           
Transmission substation assets located in Seabrook, New Hampshire
88.23
%
 
 $
59
   
 $
12
   
 $
5
 
¾¾¾¾¾¾¾¾¾¾
(a)  
Excludes nuclear fuel.

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Variable Interest Entities
12 Months Ended
Dec. 31, 2010
Variable Interest Entities [Abstract]
Variable Interest Entities
9.  Variable Interest Entities

As of December 31, 2010, NextEra Energy has eight 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 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.  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  $444 million at December 31, 2010 and consisted primarily of storm-recovery property, which is included in securitized storm-recovery costs on NextEra Energy's and FPL's consolidated balance sheets.  The liabilities of the VIE were approximately  $542 million at December 31, 2010 and consisted primarily of storm-recovery bonds, which are included in long-term debt on NextEra Energy's and FPL's 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 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 years ended December 31, 2010, 2009 and 2008, FPL purchased 1,502,234 mwh, 1,604,735 mwh and 1,725,798 mwh, respectively, from the facility at a total cost of approximately  $184 million,  $173 million and  $158 million, respectively.

Additionally, FPL entered into a PPA effective in 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 consolidated balance sheets.

NextEra Energy Resources - NextEra Energy consolidates six 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.

Three 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 1,285 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 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  $829 million and  $455 million, respectively, at December 31, 2010 and consisted primarily of property, plant and equipment and long-term debt.

The other three NextEra Energy Resources’ VIEs consolidate several entities which own and operate wind electric generating facilities with the capability of producing a total of 1,077 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 2018 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  $1.7 billion and  $1.6 billion, respectively, at December 31, 2010, and consisted primarily of property, plant and equipment, deferral related to differential membership interests and long-term debt.

Other - As of December 31, 2010, several NextEra Energy subsidiaries have investments totaling approximately  $646 million ( $480 million at FPL) in certain special purpose entities, which consisted primarily of investments in mortgage-backed securities.  These investments are included primarily in special use funds and other investments on NextEra Energy's consolidated balance sheets and in special use funds on FPL's consolidated balance sheets.  NextEra Energy is considered the primary beneficiary and therefore consolidates one of these entities with total assets of approximately  $53 million.  NextEra Energy is considered the primary beneficiary of this entity because FPL and NextEra Energy Resources are equal investors and combined, are the majority investors in this entity and 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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Investments in Partnerships and Joint Ventures
12 Months Ended
Dec. 31, 2010
Investments in Partnerships and Joint Ventures [Abstract]
Investments in Partnerships and Joint Ventures
10.  Investments in Partnerships and Joint Ventures

NextEra Energy Resources - NextEra Energy Resources has non-controlling non-majority owned interests in various partnerships and joint ventures, essentially all of which own electric generating facilities.  At December 31, 2010 and 2009, NextEra Energy Resources' investments in partnerships and joint ventures totaled approximately  $217 million and  $173 million, respectively, which is included in other investments on NextEra Energy's consolidated balance sheets.  NextEra Energy Resources' interest in these partnerships and joint ventures range from approximately 5.5% to 50%.  At December 31, 2010, the principal operating entities included in NextEra Energy Resources' investments in partnerships and joint ventures were Northeast Energy, LP, Mojave 3/4/5, Luz Solar Partners Ltd., III, Luz Solar Partners Ltd., IV and Luz Solar Partners Ltd., V and in 2009 also included Mojave 16/17/18 LLC.

Summarized combined information for these principal operating entities is as follows:

   
2010
  
2009
 
   
(millions)
 
        
Net income
  $81   $78 
Total assets
  $660   $717 
Total liabilities
  $210   $354 
Partners'/members' equity
  $450   $363 
          
NextEra Energy Resources' share of underlying equity in the principal operating entities
  $223   $180 
Difference between investment carrying amount and underlying equity in net assets(a)
  (26 )  (15 )
NextEra Energy Resources' investment carrying amount for the principal operating entities
  $197   $165 
¾¾¾¾¾¾¾¾¾¾
(a)  
The majority of the difference between the investment carrying amount and the underlying equity in net assets is being amortized over the remaining life of the investee's assets.

Certain subsidiaries of NextEra Energy Resources provide services to the partnerships and joint ventures, including operations and maintenance and business management services.  NextEra Energy's operating revenues for the years ended December 31, 2010, 2009 and 2008 include approximately  $25 million,  $21 million and  $21 million, respectively, related to such services.  The net receivables at December 31, 2010 and 2009, for these services, as well as for affiliate energy commodity transactions, payroll and other payments made on behalf of these investees, were approximately  $36 million and  $29 million, respectively, and are included in other receivables on NextEra Energy's consolidated balance sheets.

NextEra Energy - In 2004, a trust created by NextEra Energy sold  $300 million of 5 7/8% preferred trust securities to the public and  $9 million of common trust securities to NextEra Energy.  The trust is an unconsolidated 100%-owned finance subsidiary.  The proceeds from the sale of the preferred and common trust securities were used to buy 5 7/8% junior subordinated debentures maturing in March 2044 from Capital Holdings.  NextEra Energy has fully and unconditionally guaranteed the preferred trust securities and the junior subordinated debentures.

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Common and Preferred Stock
12 Months Ended
Dec. 31, 2010
Common and Preferred Stock [Abstract]
Common and preferred stock
11.  Common and Preferred Stock

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

   
Years Ended December 31,
 
   
2010
  
2009
  
2008
 
   
(millions, except per share amounts)
 
           
Numerator - net income
  $1,957   $1,615   $1,639 
Denominator:
            
Weighted-average number of common shares outstanding - basic
  410.3   404.4   400.1 
Options, performance share awards, restricted stock, equity units and warrants(a)
  2.7   2.8   2.6 
Weighted-average number of common shares outstanding - assuming dilution
  413.0   407.2   402.7 
              
Earnings per share of common stock:
            
Basic
  $4.77   $3.99   $4.10 
Assuming dilution
  $4.74   $3.97   $4.07 
¾¾¾¾¾¾¾¾¾¾
(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.  Options, performance share awards, restricted stock, equity units and warrants 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 9.1 million, 0.8 million and 0.5 million for the years ended December 31, 2010, 2009 and 2008, respectively.
 
Common Stock Dividend Restrictions - NextEra Energy's charter does not limit the dividends that may be paid on its common stock.  FPL's mortgage securing FPL's first mortgage bonds contains provisions which, under certain conditions, restrict the payment of dividends and other distributions to NextEra Energy.  These restrictions do not currently limit FPL's ability to pay dividends to NextEra Energy.

Employee Stock Ownership Plan - The employee retirement savings plans of NextEra Energy include a leveraged ESOP feature.  Shares of common stock held by the trust for the employee retirement savings plans (Trust) are used to provide all or a portion of the employers' matching contributions.  Dividends received on all shares, along with cash contributions from the employers, are used to pay principal and interest on an ESOP loan held by a subsidiary of Capital Holdings.  Dividends on shares allocated to employee accounts and used by the Trust for debt service are replaced with shares of common stock, at prevailing market prices, in an equivalent amount.  For purposes of computing basic and fully diluted earnings per share, ESOP shares that have been committed to be released are considered outstanding.

ESOP-related compensation expense of approximately  $37 million,  $42 million and  $40 million in 2010, 2009 and 2008, respectively, was recognized based on the fair value of shares allocated to employee accounts during the period.  Interest income on the ESOP loan is eliminated in consolidation.  ESOP-related unearned compensation included as a reduction of common shareholders' equity at December 31, 2010 was approximately  $69 million, representing unallocated shares at the original issue price.  The fair value of the ESOP-related unearned compensation account using the closing price of NextEra Energy common stock at December 31, 2010 was approximately  $248 million.

Stock-Based Compensation - Net income for the years ended December 31, 2010, 2009 and 2008 includes approximately  $57 million,  $51 million and  $47 million, respectively, of compensation costs and  $22 million,  $20 million and  $18 million, respectively, of income tax benefits related to stock-based compensation arrangements.  Compensation cost capitalized for the years ended December 31, 2010, 2009 and 2008 was not material.  As of December 31, 2010, there were approximately  $63 million of unrecognized compensation costs related to nonvested/nonexercisable stock-based compensation arrangements.  These costs are expected to be recognized over a weighted-average period of 1.9 years.

At December 31, 2010, approximately 26 million shares of common stock were authorized and approximately 11 million were available for awards (including outstanding awards) to officers, employees and non-employee directors of NextEra Energy and its subsidiaries under NextEra Energy's amended and restated long-term incentive plan and non-employee directors stock plans.  NextEra Energy satisfies restricted stock and performance share awards by issuing new shares of its common stock or by purchasing shares of its common stock in the open market.  NextEra Energy satisfies stock option exercises by issuing new shares of its common stock and generally grants most of its stock options in the first quarter of each year.

Restricted Stock and Performance Share Awards - Restricted stock typically vests within three years after the date of grant and is subject to, among other things, restrictions on transferability prior to vesting.  The fair value of restricted stock is measured based upon the closing market price of NextEra Energy common stock as of the date of grant.  Performance share awards are typically payable at the end of a three-year performance period if the specified performance criteria are met.  The fair value of performance share awards is estimated based upon the closing market price of NextEra Energy common stock as of the date of grant less the present value of expected dividends, multiplied by an estimated performance multiple determined on the basis of historical experience, which is subsequently trued up based on actual performance.

The activity in restricted stock and performance share awards for the year ended December 31, 2010 was as follows:

 
Shares
 
Weighted-Average
Grant Date
Fair Value
Per Share
             
Restricted Stock:
           
Nonvested balance, January 1, 2010
1,143,282
   
 $
55.55
 
Granted
607,000
   
 $
46.72
 
Vested
(523,365
)
 
 $
57.42
 
Forfeited
(72,327
)
 
 $
50.21
 
Nonvested balance, December 31, 2010
1,154,590
   
 $
50.40
 
             
Performance Share Awards:
           
Nonvested balance, January 1, 2010
1,157,343
   
 $
51.20
 
Granted
717,590
   
 $
42.95
 
Vested
(465,780
)
 
 $
53.97
 
Forfeited
(90,755
)
 
 $
48.26
 
Nonvested balance, December 31, 2010
1,318,398
   
 $
45.96
 
 
The weighted-average grant date fair value per share of restricted stock granted for the years ended December 31, 2009 and 2008 was  $51.50 and  $62.66, respectively.  The weighted-average grant date fair value per share of performance share awards granted for the years ended December 31, 2009 and 2008 was  $42.66 and  $51.48, respectively.

The total fair value of restricted stock and performance share awards vested was  $47 million,  $46 million and  $64 million for the years ended December 31, 2010, 2009 and 2008, respectively.

Options - Options typically vest within three years after the date of grant and have a maximum term of ten years.  The exercise price of each option granted equals the closing market price of NextEra Energy common stock on the date of grant.  The fair value of the options is estimated on the date of the grant using the Black-Scholes option-pricing model and based on the following assumptions:

 
2010
 
2009
 
2008
                 
Expected volatility(a)
20.74 - 21.64
%
 
19.02 - 20.23
%
 
17.33
%
Expected dividends
3.61 - 4.39
%
 
3.35 - 3.71
%
 
2.75
%
Expected term (years)
6
(b)
 
6
(b)
 
6
(c)
Risk-free rate
1.65 - 2.91
%
 
2.68 - 2.97
%
 
3.24
%
¾¾¾¾¾¾¾¾¾¾
(a)  
Based on historical experience.
(b)  
Based on historical exercise and post-vesting cancellation experience adjusted for outstanding awards.
(c)  
NextEra Energy used the "simplified" method to calculate the expected term.

Option activity for the year ended December 31, 2010 was as follows:

 
Shares
Underlying
Options
 
Weighted-
Average
Exercise
Price
Per Share
 
Weighted-
Average
Remaining
Contractual
Term
(years)
 
Aggregate
Intrinsic
Value
(millions)
                           
Balance, January 1, 2010
5,739,263
 
 $
35.65
                 
Granted
687,001
 
 $
45.71
                 
Exercised
(1,384,015
)
 $
29.52
                 
Forfeited
(3,197
)
 $
64.69
                 
Expired
(2,400
)
 $
25.27
                 
Balance, December 31, 2010
5,036,652
 
 $
38.69
     
4.4
   
 $
73
 
                           
Exercisable, December 31, 2010
3,942,358
 
 $
35.85
     
3.2
   
 $
68
 

The weighted-average grant date fair value of options granted was  $6.22,  $6.79 and  $9.90 per share for the years ended December 31, 2010, 2009 and 2008, respectively.  The total intrinsic value of stock options exercised was approximately  $32 million,  $9 million and  $17 million for the years ended December 31, 2010, 2009 and 2008, respectively.

Cash received from option exercises was approximately  $41 million,  $10 million and  $14 million for the years ended December 31, 2010, 2009 and 2008, respectively.  The tax benefits realized from options exercised were approximately  $12 million,  $3 million and  $6 million for the years ended December 31, 2010, 2009 and 2008, respectively.

Continuous Offering of NextEra Energy Common Stock - In December 2010, NextEra Energy completed the program it commenced in January 2009 under which it offered and sold, from time to time, NextEra Energy common stock having a gross sales price of up to  $400 million.  During 2010 and 2009, NextEra Energy received gross proceeds through the sale and issuance of common stock under this program of approximately  $240 million and  $160 million, respectively.

Preferred Stock - NextEra Energy's charter authorizes the issuance of 100 million shares of serial preferred stock,  $0.01 par value, none of which are outstanding.  FPL's charter authorizes the issuance of 10,414,100 shares of preferred stock,  $100 par value; 5 million shares of subordinated preferred stock, no par value and 5 million shares of preferred stock, no par value, none of which are outstanding.
 
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Debt
12 Months Ended
Dec. 31, 2010
Debt [Abstract]
Debt
12.  Debt

Long-term debt consists of the following:

   
December 31,
 
   
2010
  
2009
 
   
(millions)
 
FPL:
      
First mortgage bonds - maturing 2013 through 2041 - 4.85% to 6.20%
  $5,540   $4,640 
Storm-recovery bonds - maturing 2013 through 2021 - 5.0440% to 5.2555%(a)
  531   572 
Pollution control, solid waste disposal and industrial development revenue bonds - maturing 2020 through 2029 - variable, 0.3% and 0.2% weighted-average interest rates, respectively(b)
  633   633 
Other long-term debt - maturing 2011 through 2040 - 4.000% to 5.250%
  57   24 
Unamortized discount
  (34 )  (33 )
Total long-term debt of FPL
  6,727   5,836 
Less current maturities of long-term debt
  45   42 
Long-term debt of FPL, excluding current maturities
  6,682   5,794 
Capital Holdings:
        
Debentures - maturing 2011 through 2019 - 2.55% to 7 7/8%
  2,500   1,850 
Debentures - maturing 2011 through 2012 - variable, 1.0% and 0.9% weighted-average interest rate, respectively(c)(d)
  450   450 
Debentures, related to NextEra Energy's equity units - maturing 2014 and 2015 - 3.60% and 1.90%
  753   350 
Junior Subordinated Debentures - maturing 2044 through 2069 - 5 7/8% to 8.75%
  2,353   2,353 
Senior secured bonds - maturing 2030 - 7.500%(e)
  500   500 
Japanese yen denominated senior notes - maturing 2030 - 5.1325%(d)
  123   - 
Japanese yen denominated term loans - maturing 2011 - variable, 2.2% and 3.3% weighted-average interest rate, respectively(c)(d)
  327   287 
Term loans - maturing 2011 through 2014 - variable, 1.2% and 1.0% weighted-average interest rate, respectively(c)
  950   910 
Fair value swap
  3   14 
Unamortized discount
  (8 )  (3 )
Total long-term debt of Capital Holdings
  7,951   6,711 
Less current maturities of long-term debt
  1,485   200 
Long-term debt of Capital Holdings, excluding current maturities
  6,466   6,511 
NextEra Energy Resources:
        
Senior secured limited recourse bonds and notes - maturing 2013 through 2037 - 5.608% to 7.59%
  2,652   2,488 
Other long-term debt - maturing 2012 through 2028 - primarily limited recourse and variable, 2.6% and 2.4% weighted-average interest rates, respectively(c)(d)
  2,521   1,833 
Canadian revolving credit facility - maturing 2013 - variable, 1.3%(c)
  82   - 
Unamortized premium
  -   1 
Total long-term debt of NextEra Energy Resources
  5,255   4,322 
Less current maturities of long-term debt
  390   327 
Long-term debt of NextEra Energy Resources, excluding current maturities
  4,865   3,995 
Total long-term debt
  $18,013   $16,300 
¾¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
Principal on the storm-recovery bonds is due on the final maturity date (the date by which the principal must be repaid to prevent a default) for each tranche, however, it began being paid semiannually and sequentially on February 1, 2008, when the first semiannual interest payment became due.
(b)  
Tax exempt bonds that permit individual bond holders to tender the bonds for purchase at any time prior to maturity.  In the event bonds are tendered for purchase, they would be remarketed by a designated remarketing agent in accordance with the related indenture.  If the remarketing is unsuccessful, FPL would be required to purchase the tax exempt bonds.  As of December 31, 2010, all tax exempt bonds tendered for purchase have been successfully remarketed.  FPL's bank revolving lines of credit are available to support the purchase of tax exempt bonds.
(c)  
Variable rate is based on an underlying index plus a margin.
(d)  
Interest rate swap agreements have been entered into for the majority of these debt issuances.
(e)  
Issued by a wholly-owned subsidiary of Capital Holdings and collateralized by a third-party note receivable held by that subsidiary.  See Note 5.

Minimum annual maturities of long-term debt for NextEra Energy are approximately  $1,920 million,  $816 million,  $1,816 million,  $940 million and  $1,814 million for 2011, 2012, 2013, 2014 and 2015, respectively.  The respective amounts for FPL are approximately  $45 million,  $50 million,  $453 million,  $56 million and  $60 million.

At December 31, 2010 and 2009, commercial paper borrowings had a weighted-average interest rate of 0.39% (0.26% for FPL) and 0.19% (0.19% for FPL), respectively.  Available lines of credit aggregated approximately  $7.4 billion ( $4.4 billion for Capital Holdings and  $3.0 billion for FPL) at December 31, 2010 and were available to support Capital Holdings' and FPL's commercial paper programs.  These facilities provide for the issuance of letters of credit of up to approximately  $6.4 billion.  The issuance of letters of credit is subject to the aggregate commitment under the applicable facility.  While no direct borrowings were outstanding at December 31, 2010, letters of credit totaling  $771 million and  $8 million were outstanding under the Capital Holdings and FPL credit facilities, respectively.
 
NextEra Energy has guaranteed certain payment obligations of Capital Holdings, including most of those under Capital Holdings' debt, including all of its debentures and commercial paper issuances, as well as most of its guarantees.  Capital Holdings has guaranteed certain debt and other obligations of NextEra Energy Resources and its subsidiaries.

In 2008, FPL entered into a reclaimed water agreement with Palm Beach County, Florida (PBC) to provide FPL's WCEC with reclaimed water for cooling purposes beginning in January 2011.  Under the reclaimed water agreement, FPL is to construct a reclaimed water system, including modifications to an existing treatment plant and a water pipeline, that PBC will legally own and operate.  The reclaimed water agreement also requires PBC to issue bonds for the purpose of paying the costs associated with the construction of the reclaimed water system.  In 2009, PBC issued approximately  $68 million principal amount of Palm Beach County, Florida Water and Sewer Revenue Bonds.  Under the reclaimed water agreement, FPL will pay PBC an operating fee for the reclaimed water delivered which will be used by PBC to, among other things, service the principal of, and interest on, the bonds.  The portion of the operating fee related to PBC's servicing principal of, and interest on, the bonds will be paid by FPL, beginning October 2011, until final maturity of the bonds.  FPL does not have a direct obligation to the bondholders; however, if FPL or PBC were to terminate the reclaimed water agreement, FPL would be obligated to continue to pay the portion of the operating fee intended to reimburse PBC for costs related to issuance of the bonds, including amounts to be used by PBC to service the principal of, and interest on, the bonds.  In the event of a default by PBC under the reclaimed water agreement, FPL would have certain rights, including, among other things, the right to appoint a third-party contractor to repair, and restore operations of, the reclaimed water treatment plant, and, in the event of a termination of the reclaimed water agreement by FPL relating to a PBC default, the right to assume ownership of the reclaimed water pipeline from PBC.  For financial reporting purposes, FPL is considered the owner of the reclaimed water system and FPL and NextEra Energy are recording electric utility plant in service and other property as costs are incurred and long-term debt (see FPL's other long-term debt in the table above) as costs are eligible for reimbursement by PBC to FPL.

In 2009, NextEra Energy sold  $350 million of equity units (initially consisting of Corporate Units).  Each equity unit has a stated amount of  $50 and consists of a contract to purchase NextEra Energy common stock (stock purchase contract) and, initially, a 1/20, or 5%, undivided beneficial ownership interest in a Series C Debenture due June 1, 2014 issued in the principal amount of  $1,000 by Capital Holdings (see table above).  Each stock purchase contract requires the holder to purchase by no later than June 1, 2012 (the final settlement date) for a price of  $50 in cash, a number of shares of NextEra Energy common stock (subject to antidilution adjustments) based on a price per share range of  $55.67 to  $66.80.  If purchased on the final settlement date, as of December 31, 2010, the number of shares issued would (subject to antidilution adjustments) range from 0.9000 shares if the applicable market value of a share of common stock is less than or equal to  $55.67, to 0.7501 shares if the applicable market value of a share is equal to or greater than  $66.80, with applicable market value to be determined using the average closing prices of NextEra Energy common stock over a 20-day trading period ending May 29, 2012.  Total annual distributions on the equity units will be at the rate of 8.375%, consisting of interest on the debentures (3.60% per year) and payments under the stock purchase contracts (4.775% per year).  The interest rate on the debentures is expected to be reset on or after December 1, 2011.  The holder of an equity unit may satisfy its purchase obligation with proceeds raised from remarketing the Capital Holding debentures that are part of its equity unit.  The undivided beneficial ownership interest in the Capital Holdings debenture that is a component of each Corporate Unit is pledged to NextEra Energy to secure the holder’s obligation to purchase NextEra Energy common stock under the related stock purchase contract.  If a successful remarketing does not occur on or before the third business day prior to the final settlement date, and a holder has not notified NextEra Energy of its intention to settle the stock purchase contract with cash, NextEra Energy would exercise its rights as a secured party in the debentures to satisfy in full the holders’ obligations to purchase NextEra Energy common stock under the related stock purchase contracts on the final settlement date.  The debentures are fully and unconditionally guaranteed by NextEra Energy.
 
In 2010, NextEra Energy sold  $402.5 million of equity units (initially consisting of Corporate Units).  Each equity unit has a stated amount of  $50 and consists of a contract to purchase NextEra Energy common stock (stock purchase contract) and, initially, a 1/20, or 5%, undivided beneficial ownership interest in a Series D Debenture due September 1, 2015 issued in the principal amount of  $1,000 by Capital Holdings (see table above).  Each stock purchase contract requires the holder to purchase by no later than September 1, 2013 (the final settlement date) for a price of  $50 in cash, a number of shares of NextEra Energy common stock (subject to antidilution adjustments) based on a price per share range of  $55.02 to  $68.78.  If purchased on the final settlement date, as of December 31, 2010, the number of shares issued would (subject to antidilution adjustments) range from 0.9088 shares if the applicable market value of a share of common stock is less than or equal to  $55.02, to 0.7270 shares if the applicable market value of a share is equal to or greater than  $68.78, with applicable market value to be determined using the average closing prices of NextEra Energy common stock over a 20-day trading period ending August 28, 2013.  Total annual distributions on the equity units will be at the rate of 7.00%, consisting of interest on the debentures (1.90% per year) and payments under the stock purchase contracts (5.10% per year).  The interest rate on the debentures is expected to be reset on or after March 1, 2013.  The holder of an equity unit may satisfy its purchase obligation with proceeds raised from remarketing the Capital Holdings debentures that are part of its equity unit.  The undivided beneficial ownership interest in the Capital Holdings debenture that is a component of each Corporate Unit is pledged to NextEra Energy to secure the holder’s obligation to purchase NextEra Energy common stock under the related stock purchase contract.  If a successful remarketing does not occur on or before the third business day prior to the final settlement date, and a holder has not notified NextEra Energy of its intention to settle the stock purchase contract with cash, NextEra Energy would exercise its rights as a secured party in the debentures to satisfy in full the holders’ obligations to purchase NextEra Energy common stock under the related stock purchase contracts on the final settlement date.  The debentures are fully and unconditionally guaranteed by NextEra Energy.

Prior to the issuance of NextEra Energy’s common stock, the stock purchase contracts will be reflected in NextEra Energy’s diluted earnings per share calculations using the treasury stock method.  Under this method, the number of shares of NextEra Energy common stock used in calculating diluted earnings per share is deemed to be increased by the excess, if any, of the number of shares that would be issued upon settlement of the stock purchase contracts over the number of shares that could be purchased by NextEra Energy in the market, at the average market price during the period, using the proceeds receivable upon settlement.

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Asset Retirement Obligations
12 Months Ended
Dec. 31, 2010
Asset Retirement Obligations [Abstract]
Asset Retirement Obligations
13.  Asset Retirement Obligations

FPL's ARO relates primarily to the nuclear decommissioning obligation of its nuclear units.  FPL's AROs other than nuclear decommissioning are not significant.  The accounting provisions result in timing differences in the recognition of legal asset retirement costs for financial reporting purposes and the method the FPSC allows FPL to recover in rates.  NextEra Energy Resources' ARO relates primarily to the nuclear decommissioning obligation of its nuclear plants and obligations for the dismantlement of its wind facilities located on leased property.  See Note 1 - Decommissioning of Nuclear Plants, Dismantlements of Plants and Other Accrued Asset Removal Costs.

A rollforward of NextEra Energy's and FPL's ARO is as follows:

 
FPL
 
NextEra Energy Resources
 
NextEra Energy
 
       
(millions)
       
                   
Balance, December 31, 2008
 $
1,743
 
 $
540
 
 $
2,283
 
Liabilities incurred
 
-
   
4
   
4
 
Accretion expense
 
96
   
36
   
132
 
Revision in estimated cash flows - net
 
(6
)
 
5
   
(1
)
Balance, December 31, 2009
 
1,833
   
585
   
2,418
 
Liabilities incurred
 
-
   
3
   
3
 
Accretion expense
 
101
   
36
   
137
 
Liabilities settled
 
-
   
(1
)
 
(1
)
Revision in estimated cash flows - net
 
(851
)(a)
 
(67
)(b)
 
(918
)
Balance, December 31, 2010
 $
1,083
 
 $
556
 
 $
1,639
 
¾¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
Primarily reflects the effect of a decrease in the escalation rates used to determine the ultimate projected costs of decommissioning FPL's nuclear units and lower costs due to the expected future reimbursement by the DOE of certain spent fuel storage costs as stipulated by a spent fuel settlement agreement.
(b)  
Primarily reflects the effect of revised probability assessments regarding when assets will be retired and ultimately decommissioned and lower costs due to the expected future reimbursement by the DOE of certain spent fuel storage costs as stipulated by a spent fuel settlement agreement.
 
Restricted funds for the payment of future expenditures to decommission NextEra Energy's and FPL's nuclear units included in special use funds on NextEra Energy's and FPL's consolidated balance sheets are as follows (see Note 5):

 
FPL
 
NextEra Energy Resources
 
NextEra Energy
       
(millions)
     
                 
Balance, December 31, 2010
 $
2,512
 
 $
1,105
 
 $
3,617
Balance, December 31, 2009
 $
2,285
 
 $
982
 
 $
3,267

NextEra Energy and FPL have identified but not recognized ARO liabilities related to electric transmission and distribution and telecommunications assets resulting from easements over property not owned by NextEra Energy or FPL.  In addition, NextEra Energy has identified but not recognized ARO liabilities related to the majority of NextEra Energy Resources' hydro facilities.  These easements are generally perpetual and, along with the hydro facilities, only require retirement action upon abandonment or cessation of use of the property or facility for its specified purpose.  The ARO liability is not estimable for such easements and hydro facilities as NextEra Energy and FPL intend to use these properties and facilities indefinitely.  In the event NextEra Energy and FPL decide to abandon or cease the use of a particular easement and/or hydro facility, an ARO liability would be recorded at that time.
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Commitments and Contingencies
12 Months Ended
Dec. 31, 2010
Commitments and Contingencies [Abstract]
Commitments and Contingencies
14.  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 and the procurement of nuclear fuel.  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 include the cost for construction of a transmission line in Texas and FPL FiberNet, LLC's (FPL FiberNet) costs to meet customer-specific requirements and maintain its fiber-optic network.
 
At December 31, 2010, estimated planned capital expenditures for 2011 through 2015 were as follows:

   
2011
  
2012
  
2013
  
2014
  
2015
  
Total
 
   
(millions)
 
FPL:
                  
Generation:(a)
                  
New(b)(c)
  $1,520   $1,870   $500   $105   $-   $3,995 
Existing
  655   570   610   665   490   2,990 
Transmission and distribution
  720   870   820   760   840   4,010 
Nuclear fuel
  260   170   255   205   220   1,110 
General and other
  120   145   95   120   105   585 
Total
  $3,275   $3,625   $2,280   $1,855   $1,655   $12,690 
                          
NextEra Energy Resources:
                        
Wind(d)
  $505   $30   $10   $5   $-   $550 
Solar(e)
  955   885   420   75   -   2,335 
Nuclear(f)
  585   275   250   250   265   1,625 
Natural gas
  140   35   65   40   120   400 
Other(g)
  85   75   50   60   50   320 
Total
  $2,270   $1,300   $795   $430   $435   $5,230 
                          
Corporate and Other(h)
  $400   $490   $70   $30   $30   $1,020 
¾¾¾¾¾¾¾¾¾¾
(a)  
Includes AFUDC of approximately  $49 million,  $76 million,  $79 million,  $29 million and  $3 million in 2011 to 2015, 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  $98 million,  $75 million and  $24 million in 2011 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 754 mw added in 2010 and approximately 700 mw to 1,000 mw in 2011, at a total cost of approximately  $7 billion to  $10 billion.
(e)  
Consists of capital expenditures for planned new solar projects that have received applicable internal approvals and related transmission.  NextEra Energy Resources plans to add new solar generation of approximately 400 mw to 600 mw in 2010 through 2014, including 5 mw added in 2010, at a total cost of approximately  $3 billion to  $4 billion.
(f)  
Includes nuclear fuel.
(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 and includes AFUDC of approximately  $9 million,  $41 million and  $18 million in 2011 to 2013, respectively.

NextEra Energy has guaranteed certain payment obligations of Capital Holdings, including most payment obligations under Capital Holdings' debt and guarantees.  Additionally, at December 31, 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 December 31, 2010 was approximately  $34 million.  At December 31, 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 December 31, 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 through 2015 and 375 mw annually thereafter through 2021.  FPL also has various firm pay-for-performance contracts to purchase approximately 650 mw from certain cogenerators and small power producers (qualifying facilities) with expiration dates ranging from 2024 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 2036 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 and development activities, as well as for the supply of uranium, conversion, enrichment and fabrication of nuclear fuel, with expiration dates ranging from April 2011 through 2031, 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 March 2011 through 2033.

The required capacity and/or minimum payments under the contracts discussed above as of December 31, 2010 were estimated as follows:

   
2011
  
2012
  
2013
  
2014
  
2015
  
Thereafter
 
FPL:
 
(millions)
 
Capacity payments:(a)
                  
Qualifying facilities
  $270   $290   $270   $275   $280   $2,605 
JEA and Southern subsidiaries
  $210   $210   $205   $185   $160   $195 
Other electricity suppliers
  $10   $5   $-   $-   $-   $- 
Minimum payments, at projected prices:
                        
Natural gas, including transportation and storage(b)
  $2,185   $1,130   $575   $570   $550   $7,470 
Oil(b)
  $150   $-   $-   $-   $-   $- 
Coal(b)
  $90   $70   $60   $5   $-   $- 
                          
NextEra Energy Resources(c)
  $1,250   $225   $180   $165   $165   $830 
¾¾¾¾¾¾¾¾¾¾
(a)  
Capacity payments under these contracts, substantially all of which are recoverable through the capacity clause, totaled approximately  $537 million,  $603 million and  $584 million for the years ended December 31, 2010, 2009 and 2008, respectively.  Energy payments under these contracts, which are recoverable through the fuel clause, totaled approximately  $434 million,  $439 million and  $510 million for the years ended December 31, 2010, 2009 and 2008, 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.

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 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, NextEra Energy does not have insurance coverage for a substantial portion of its transmission and distribution property and 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 surcharges approved by the FPSC (see Note 1 - Revenues and Rates) or through securitization provisions pursuant to Florida law.

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 U.S. 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 from January 29, 1999.  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 September 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, LLC, 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 the contracts' liquidated damage provision is an enforceable liquidated damage clause.  The appellate court has remanded the case back to the trial court for further proceedings to determine the amount of damages payable by the NextEra Energy Resources Affiliates.  The NextEra Energy Resources Affiliates filed a motion for rehearing of the appellate court’s decision, which motion was denied, and will appeal the appellate court 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.
 
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Segment Information
12 Months Ended
Dec. 31, 2010
Segment Information [Abstract]
Segment Information
15.  Segment Information

NextEra Energy's reportable segments are FPL, a rate-regulated utility, and NextEra Energy Resources, a competitive energy business.  Beginning in 2010, NextEra Energy Resources' segment information includes an allocation of interest expense from Capital Holdings based 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 Capital Holdings 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 operating revenues derived from the sale of electricity represented approximately 95%, 98% and 96% of NextEra Energy's operating revenues for the years ended December 31, 2010, 2009 and 2008.  Less than 1% of operating revenues were from foreign sources for each of the three years ended December 31, 2010, 2009 and 2008.  At December 31, 2010 and 2009, approximately 1% of long-lived assets were located in foreign countries.

NextEra Energy's segment information is as follows:

   
2010
 
2009
 
2008
   
FPL
 
NextEra
Energy
Resources(a)
 
Corp.
and
Other
 
Total
 
FPL
 
NextEra
Energy
Resources(a)(c)
 
Corp.
and
Other(c)
 
Total
 
FPL
 
NextEra
Energy
Resources(a)(c)
 
Corp.
and
Other(c)
 
Total
                           
(millions)
                       
                                                                         
Operating revenues
 
 $
10,485
 
 $
4,636
   
 $
196
 
 $
15,317
 
 $
11,491
 
 $
3,997
   
 $
155
 
 $
15,643
 
 $
11,649
 
 $
4,570
   
 $
191
 
 $
16,410
Operating expenses
 
 $
8,636
 
 $
3,286
   
 $
152
 
 $
12,074
 
 $
9,910
 
 $
3,024
   
 $
115
 
 $
13,049
 
 $
10,120
 
 $
3,305
   
 $
160
 
 $
13,585
Interest expense
 
 $
361
 
 $
515
   
 $
103
 
 $
979
 
 $
318
 
 $
460
   
 $
71
 
 $
849
 
 $
334
 
 $
418
   
 $
61
 
 $
813
Interest income
 
 $
-
 
 $
21
   
 $
70
 
 $
91
 
 $
1
 
 $
23
   
 $
54
 
 $
78
 
 $
11
 
 $
27
   
 $
34
 
 $
72
Depreciation and amortization
 
 $
1,008
 
 $
778
   
 $
21
 
 $
1,807
 
 $
1,097
 
 $
651
   
 $
17
 
 $
1,765
 
 $
860
 
 $
565
   
 $
17
 
 $
1,442
Equity in earnings of equity method investees
 
 $
-
 
 $
58
   
 $
-
 
 $
58
 
 $
-
 
 $
52
   
 $
-
 
 $
52
 
 $
-
 
 $
93
   
 $
-
 
 $
93
Income tax expense (benefit)(b)
 
 $
580
 
 $
(11
)
 
 $
(37
)
 $
532
 
 $
473
 
 $
(158
)
 
 $
12
 
 $
327
 
 $
443
 
 $
27
   
 $
(20
)
 $
450
Net income (loss)
 
 $
945
 
 $
980
   
 $
32
 
 $
1,957
 
 $
831
 
 $
759
   
 $
25
 
 $
1,615
 
 $
789
 
 $
831
   
 $
19
 
 $
1,639
Capital expenditures, independent power and other investments and nuclear fuel purchases
 
 $
2,706
 
 $
3,072
   
 $
68
 
 $
5,846
 
 $
2,717
 
 $
3,235
   
 $
54
 
 $
6,006
 
 $
2,367
 
 $
2,829
   
 $
40
 
 $
5,236
Property, plant and equipment
 
 $
32,423
 
 $
21,304
   
 $
494
 
 $
54,221
 
 $
30,982
 
 $
18,844
   
 $
343
 
 $
50,169
 
 $
28,972
 
 $
16,268
   
 $
288
 
 $
45,528
Accumulated depreciation and amortization
 
 $
10,871
 
 $
4,073
   
 $
202
 
 $
15,146
 
 $
10,578
 
 $
3,341
   
 $
172
 
 $
14,091
 
 $
10,189
 
 $
2,771
   
 $
157
 
 $
13,117
Total assets
 
 $
28,698
 
 $
22,389
   
 $
1,907
 
 $
52,994
 
 $
26,812
 
 $
20,136
   
 $
1,510
 
 $
48,458
 
 $
26,175
 
 $
17,157
   
 $
1,489
 
 $
44,821
Investment in equity method investees
 
 $
-
 
 $
217
   
 $
10
 
 $
227
 
 $
-
 
 $
173
   
 $
10
 
 $
183
 
 $
-
 
 $
189
   
 $
9
 
 $
198
¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
Interest expense allocated from Capital Holdings to NextEra Energy Resources 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)  
NextEra Energy Resources' tax expense (benefit) includes PTCs that were recognized based on its tax sharing agreement with NextEra Energy.  See Note 1 - Income Taxes.
(c)  
Segment information restated for the changes discussed above.
 
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Summarized Financial Information of Capital Holdings
12 Months Ended
Dec. 31, 2010
Summarized Financial Information of Capital Holdings [Abstract]
Summarized Financial Information of Capital Holdings
16.  Summarized Financial Information of Capital Holdings

Capital Holdings, 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 Capital Holdings' 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

   
Year Ended
December 31, 2010
  
Year Ended
December 31, 2009
  
Year Ended
December 31, 2008
 
   
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
   
(millions)
 
                                      
Operating revenues
  $-   $4,843   $10,474   $15,317   $-   $4,164   $11,479   $15,643   $-   $4,770   $11,640   $16,410 
Operating expenses
  (4 )  (3,446 )  (8,624 )  (12,074 )  -   (3,151 )  (9,898 )  (13,049 )  -   (3,474 )  (10,111 )  (13,585 )
Interest expense
  (15 )  (618 )  (346 )  (979 )  (17 )  (531 )  (301 )  (849 )  (18 )  (479 )  (316 )  (813 )
Other income (deductions) - net
  1,947   188   (1,910 )  225   1,632   160   (1,595 )  197   1,663   44   (1,630 )  77 
Income (loss) before income taxes
  1,928   967   (406 )  2,489   1,615   642   (315 )  1,942   1,645   861   (417 )  2,089 
Income tax expense (benefit)
  (29 )  (19 )  580   532   -   (145 )  472   327   6   2   442   450 
Net income (loss)
  $1,957   $986   $(986)  $1,957   $1,615   $787   $(787)  $1,615   $1,639   $859   $(859)  $1,639 
¾¾¾¾¾¾¾¾¾¾
(a)  
Represents FPL and consolidating adjustments.

Condensed Consolidating Balance Sheets

   
December 31, 2010
  
December 31, 2009
 
   
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
   
(millions)
 
PROPERTY, PLANT AND EQUIPMENT
                        
Electric utility plant in service and other property
  $19   $21,779   $32,423   $54,221   $2   $19,185   $30,982   $50,169 
Less accumulated depreciation and amortization
  -   (4,275 )  (10,871 )  (15,146 )  -   (3,513 )  (10,578 )  (14,091 )
Total property, plant and equipment - net
  19   17,504   21,552   39,075   2   15,672   20,404   36,078 
CURRENT ASSETS
                                
Cash and cash equivalents
  -   282   20   302   -   156   82   238 
Receivables
  654   1,380   548   2,582   453   1,247   547   2,247 
Other
  9   1,024   1,341   2,374   4   1,258   590   1,852 
Total current assets
  663   2,686   1,909   5,258   457   2,661   1,219   4,337 
OTHER ASSETS
                                
Investment in subsidiaries
  14,150   -   (14,150 )  -   12,785   -   (12,785 )  - 
Other
  365   3,845   4,451   8,661   557   3,257   4,229   8,043 
Total other assets
  14,515   3,845   (9,699 )  8,661   13,342   3,257   (8,556 )  8,043 
TOTAL ASSETS
  $15,197   $24,035   $13,762   $52,994   $13,801   $21,590   $13,067   $48,458 
                                  
CAPITALIZATION
                                
Common shareholders' equity
  $14,461   $4,359   $(4,359)  $14,461   $12,967   $4,349   $(4,349)  $12,967 
Long-term debt
  -   11,331   6,682   18,013   -   10,506   5,794   16,300 
Total capitalization
  14,461   15,690   2,323   32,474   12,967   14,855   1,445   29,267 
CURRENT LIABILITIES
                                
Debt due within one year
  -   2,664   145   2,809   -   1,729   860   2,589 
Accounts payable
  -   571   553   1,124   -   453   539   992 
Other
  352   1,361   1,258   2,971   417   1,170   1,281   2,868 
Total current liabilities
  352   4,596   1,956   6,904   417   3,352   2,680   6,449 
OTHER LIABILITIES AND DEFERRED CREDITS
                                
Asset retirement obligations
  -   556   1,083   1,639   -   585   1,833   2,418 
Accumulated deferred income taxes
  53   1,336   3,720   5,109   94   1,318   3,448   4,860 
Regulatory liabilities
  46   -   4,213   4,259   16   -   3,166   3,182 
Other
  285   1,857   467   2,609   307   1,480   495   2,282 
Total other liabilities and deferred credits
  384   3,749   9,483   13,616   417   3,383   8,942   12,742 
COMMITMENTS AND CONTINGENCIES
                                
TOTAL CAPITALIZATION AND LIABILITIES
  $15,197   $24,035   $13,762   $52,994   $13,801   $21,590   $13,067   $48,458 
¾¾¾¾¾¾¾¾¾¾
(a)  
Represents FPL and consolidating adjustments.
 
Condensed Consolidating Statements of Cash Flows

   
Year Ended
December 31, 2010
  
Year Ended
December 31, 2009
  
Year Ended
December 31, 2008
 
   
NextEra
Energy
(Guar-
antor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guar-
antor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guar-
antor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
   
(millions)
 
NET CASH PROVIDED BY OPERATING ACTIVITIES
  $1,178   $1,940   $716   $3,834   $591   $1,513   $2,359   $4,463   $766   $1,182   $1,455   $3,403 
                                                  
CASH FLOWS FROM INVESTING ACTIVITIES
                                                
Capital expenditures, independent power and other investments and nuclear fuel purchases
  -   (3,140 )  (2,706 )  (5,846 )  -   (3,289 )  (2,717 )  (6,006 )  (12 )  (2,857 )  (2,367 )  (5,236 )
Capital contribution to FPL
  (660 )  -   660   -   -   -   -   -   (75 )  -   75   - 
Cash grants under the Recovery Act
  -   428   160   588   -   100   -   100   -   -   -   - 
Funding of loan
  -   -   -   -   -   -   -   -   -   (500 )  -   (500 )
Other - net
  -   5   (31 )  (26 )  (7 )  1   (23 )  (29 )  -   -   (72 )  (72 )
Net cash used in investing activities
  (660 )  (2,707 )  (1,917 )  (5,284 )  (7 )  (3,188 )  (2,740 )  (5,935 )  (87 )  (3,357 )  (2,364 )  (5,808 )
                                                  
CASH FLOWS FROM FINANCING ACTIVITIES
                                                
Issuances of long-term debt
  -   2,800   924   3,724   -   2,704   516   3,220   -   3,238   589   3,827 
Retirements of long-term debt
  -   (727 )  (42 )  (769 )  -   (1,371 )  (264 )  (1,635 )  -   (1,118 )  (240 )  (1,358 )
Proceeds from sale of differential membership interests
  -   261   -   261   -   -   -   -   -   -   -   - 
Net change in short-term debt
  -   (414 )  (716 )  (1,130 )  -   110   44   154   -   917   (69 )  848 
Issuances of common stock - net
  308   -   -   308   198   -   -   198   41   -   -   41 
Dividends on common stock
  (823 )  -   -   (823 )  (766 )  -   -   (766 )  (714 )  -   -   (714 )
Other - net
  (3 )  (1,027 )  973   (57 )  (16 )  (26 )  46   4   (6 )  (675 )  687   6 
Net cash provided by (used in) financing activities
  (518 )  893   1,139   1,514   (584 )  1,417   342   1,175   (679 )  2,362   967   2,650 
                                                  
Net increase (decrease) in cash and cash equivalents
  -   126   (62 )  64   -   (258 )  (39 )  (297 )  -   187   58   245 
Cash and cash equivalents at beginning of year
  -   156   82   238   -   414   121   535   -   227   63   290 
Cash and cash equivalents at end of year
  $-   $282   $20   $302   $-   $156   $82   $238   $-   $414   $121   $535 
¾¾¾¾¾¾¾¾¾¾
(a)  
Represents FPL and consolidating adjustments.
 
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Quarterly Data (Unaudited)
12 Months Ended
Dec. 31, 2010
Quarterly Data (Unaudited) [Abstract]
Quarterly Data (Unaudited)
 
17.  Quarterly Data (Unaudited)

Condensed consolidated quarterly financial information is as follows:

   
March 31(a)
 
June 30(a)
 
September 30(a)
 
December 31(a)
   
(millions, except per share amounts)
NEXTERA ENERGY:
                                       
2010
                                       
Operating revenues(b)
 
 $
3,622
     
 $
3,591
     
 $
4,691
     
 $
3,413
   
Operating income(b)
 
 $
939
     
 $
709
     
 $
1,125
     
 $
469
   
Net income(b)
 
 $
556
     
 $
417
     
 $
720
     
 $
263
   
Earnings per share(c)
 
 $
1.36
     
 $
1.02
     
 $
1.75
     
 $
0.64
   
Earnings per share - assuming dilution(c)
 
 $
1.36
     
 $
1.01
     
 $
1.74
     
 $
0.63
   
Dividends per share
 
 $
0.50
     
 $
0.50
     
 $
0.50
     
 $
0.50
   
High-low common stock sales prices
 
 $
53.75
-
45.29
 
 $
53.50
-
47.96
 
 $
55.98
-
48.44
 
 $
56.26
-
50.00
                                         
2009
                                       
Operating revenues(b)
 
 $
3,705
     
 $
3,811
     
 $
4,473
     
 $
3,655
   
Operating income(b)
 
 $
583
     
 $
605
     
 $
849
     
 $
557
   
Net income(b)
 
 $
364
     
 $
370
     
 $
533
     
 $
349
   
Earnings per share(c)
 
 $
0.90
     
 $
0.92
     
 $
1.32
     
 $
0.86
   
Earnings per share - assuming dilution(c)
 
 $
0.90
     
 $
0.91
     
 $
1.31
     
 $
0.85
   
Dividends per share
 
 $
0.4725
     
 $
0.4725
     
 $
0.4725
     
 $
0.4725
   
High-low common stock sales prices
 
 $
53.99
-
41.48
 
 $
59.00
-
49.70
 
 $
60.61
-
53.13
 
 $
56.57
-
48.55
                                         
FPL:
                                       
2010
                                       
Operating revenues(b)
 
 $
2,328
     
 $
2,580
     
 $
3,116
     
 $
2,461
   
Operating income(b)
 
 $
393
     
 $
501
     
 $
584
     
 $
371
   
Net income(b)
 
 $
191
     
 $
265
     
 $
308
     
 $
181
   
                                         
2009
                                       
Operating revenues(b)
 
 $
2,573
     
 $
2,864
     
 $
3,301
     
 $
2,753
   
Operating income(b)
 
 $
262
     
 $
396
     
 $
554
     
 $
369
   
Net income(b)
 
 $
127
     
 $
213
     
 $
306
     
 $
186
   
¾¾¾¾¾¾¾¾¾¾
(a)  
In the opinion of NextEra Energy and FPL, all adjustments, which consist of normal recurring accruals necessary to present a fair statement of the amounts shown for such periods, have been made.  Results of operations for an interim period generally will not give a true indication of results for the year.
(b)  
The sum of the quarterly amounts may not equal the total for the year due to rounding.
(c)  
The sum of the quarterly amounts may not equal the total for the year due to rounding and changes in weighted-average number of common shares outstanding.
 
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Summary of Significant Accounting and Reporting Policies (Policies)
12 Months Ended
Dec. 31, 2010
Summary of Significant Accounting and Reporting Policies [Policies] [Abstract]
Basis of Presentation
Basis of Presentation - The operations of NextEra Energy, Inc. (NextEra Energy), formerly known as FPL Group, Inc., are conducted primarily through its wholly-owned subsidiary Florida Power & Light Company (FPL) and its wholly-owned indirect subsidiary NextEra Energy Resources, LLC (NextEra Energy Resources).  FPL, a rate-regulated public utility, supplies electric service to approximately 4.5 million customer accounts throughout most of the east and lower west coasts of Florida.  NextEra Energy Resources invests in independent power projects through both controlled and consolidated entities and non-controlling ownership interests in joint ventures essentially all of which are accounted for under the equity method.

The consolidated financial statements of NextEra Energy and FPL include the accounts of their respective majority-owned and controlled subsidiaries.  All significant intercompany balances and transactions have been eliminated in consolidation.  Certain amounts included in prior years' consolidated financial statements have been reclassified to conform to the current year's presentation.  See Note 15 for a discussion of a change in allocation of certain costs.  The preparation of financial statements requires the use of estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities.  Actual results could differ from those estimates.
Regulation
Regulation - FPL is subject to regulation by the Florida Public Service Commission (FPSC) and the Federal Energy Regulatory Commission (FERC).  Its rates are designed to recover the cost of providing electric service to its customers including a reasonable rate of return on invested capital.  As a result of this cost-based regulation, FPL follows the accounting guidance that allows regulators to create assets and impose liabilities that would not be recorded by non-rate regulated entities.  Regulatory assets and liabilities represent probable future revenues that will be recovered from or refunded to customers through the ratemaking process.

Cost recovery clauses, which are designed to permit full recovery of certain costs and provide a return on certain assets allowed to be recovered through the various clauses, include substantially all fuel, purchased power and interchange expenses, conservation and certain environmental-related expenses, certain revenue taxes and franchise fees.  Beginning in 2009, pre-construction costs and carrying charges for FPL's two additional nuclear units at Turkey Point and carrying charges on construction costs for FPL's approximately 400 megawatt (mw) to 460 mw of additional capacity at St. Lucie and Turkey Point are also recovered through a cost recovery clause.  Also beginning in 2009, costs incurred for FPL's three solar generating facilities are recovered through a cost recovery clause.  Once the new combined-cycle natural gas unit at FPL's West County Energy Center (WCEC) Unit No. 3 is placed into service, the incremental cost associated with the new unit up to the amount of the projected fuel savings for customers during the 2010 rate agreement will also be recovered through a cost recovery clause and recorded as retail base revenues.  See Revenues and Rates below.  Revenues from cost recovery clauses are recorded when billed; FPL achieves matching of costs and related revenues by deferring the net underrecovery or overrecovery.  Any underrecovered costs or overrecovered revenues are collected from or returned to customers in subsequent periods.

If FPL were no longer subject to cost-based rate regulation, the existing regulatory assets and liabilities would be written off unless regulators specify an alternative means of recovery or refund.  In addition, the FPSC has the authority to disallow recovery of costs that it considers excessive or imprudently incurred.  The continued applicability of regulatory accounting is assessed at each reporting period.

Revenues and Rates
Revenues and Rates - FPL's retail and wholesale utility rate schedules are approved by the FPSC and the FERC, respectively.  FPL records unbilled base revenues for the estimated amount of energy delivered to customers but not yet billed.  Unbilled base revenues are included in customer receivables and amounted to approximately  $148 million and  $121 million at December 31, 2010 and 2009, respectively.  FPL's operating revenues also include amounts resulting from cost recovery clauses (see Regulation), franchise fees, gross receipts taxes and surcharges related to storm-recovery bonds (see Note 9 - FPL).  Franchise fees and gross receipts taxes are imposed on FPL; however, the FPSC allows FPL to include in the amounts charged to customers the amount of the gross receipts tax for all customers and the franchise amount for those customers located in the jurisdiction that imposes the fee.  Accordingly, franchise fees and gross receipts taxes are reported gross in operating revenues and taxes other than income taxes and other on NextEra Energy's and FPL's consolidated statements of income and were approximately  $687 million,  $791 million and  $781 million in 2010, 2009 and 2008, respectively.  The revenues from the surcharges related to storm-recovery bonds included in operating revenues on NextEra Energy's and FPL's consolidated statements of income were approximately  $101 million,  $91 million and  $97 million in 2010, 2009 and 2008, respectively.  FPL also collects municipal utility taxes which are reported gross in customer receivables and accounts payable on NextEra Energy's and FPL's consolidated balance sheets.
 
Effective March 1, 2010, pursuant to an FPSC final order (FPSC rate order) with regard to FPL’s March 2009 petition (2009 rate case) that requested, among other things, a permanent base rate increase, new retail base rates for FPL were established, resulting in an increase in retail base revenues of approximately  $75 million on an annualized basis.  The FPSC rate order also 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.  In addition, the FPSC rate order directed FPL to reduce depreciation expense (surplus depreciation credit) over the 2010 to 2013 period related to a depreciation reserve surplus of approximately  $895 million.  Subsequently, the principal parties in FPL’s 2009 rate case signed a stipulation and settlement regarding FPL’s base rates (2010 rate agreement) and, on February 1, 2011, the FPSC issued a final order reflecting its decision to approve the 2010 rate agreement.  Key elements of the 2010 rate agreement, which will be effective through December 31, 2012, are as follows:

·
Subject to the provisions of the 2010 rate agreement, retail base rates will be effectively frozen through the end of 2012.
·
Incremental cost recovery through FPL’s capacity cost recovery clause (capacity clause) for WCEC Unit No. 3, which is expected to be placed in service by mid-2011, will be permitted up to the amount of the projected fuel savings for customers during the term of the 2010 rate agreement.
·
Future storm restoration costs would be recoverable on an accelerated basis beginning 60 days from the filing of a cost recovery petition, but capped at an amount that produces a surcharge of no more than  $4 for every 1,000 kilowatt-hours (kwh) of usage on residential bills during the first 12 months of cost recovery.  Any additional costs would be eligible for recovery in subsequent years.  If storm restoration costs exceed  $800 million in any given calendar year, FPL may request an increase to the  $4 surcharge for the amount above  $800 million.
·
If FPL's earned regulatory ROE falls below 9%, FPL may seek retail base rate relief.  If FPL's earned regulatory ROE rises above 11%, any party to the 2010 rate agreement may seek a reduction in FPL’s retail base rates.  In determining the regulatory ROE for all purposes under the 2010 rate agreement, earnings will be calculated on an actual, non-weather-adjusted basis.
·
FPL can vary the amount of surplus depreciation credit taken in any calendar year up to a cap in 2010 of  $267 million, a cap in subsequent years of  $267 million plus the amount of any unused portion from prior years, and a cap of  $776 million (surplus depreciation credit cap) over the course of the 2010 rate agreement, provided that in any year of the 2010 rate agreement, including 2010, FPL must use at least enough surplus depreciation credit to maintain a 9% earned regulatory ROE but may not use any amount of surplus depreciation credit that would result in an earned regulatory ROE in excess of 11%.

NextEra Energy’s and FPL’s financial statements contained herein reflect the effects of the FPSC rate order and the 2010 rate agreement.

Under the terms of a rate agreement approved in 2005 (2005 rate agreement), which was in effect from January 1, 2006 through February 28, 2010, retail base rates did not increase except to allow recovery of the revenue requirements of FPL's three power plants that achieved commercial operation during the term of the 2005 rate agreement:  Turkey Point Unit No. 5 in 2007 and WCEC Units Nos. 1 and 2 in 2009.  Under the terms of the 2005 rate agreement, FPL's electric property depreciation rates were based upon the comprehensive depreciation studies it filed with the FPSC in March 2005; however, FPL reduced depreciation on its plant in service by  $125 million each year as allowed by the 2005 rate agreement.  The 2005 rate agreement also provided for a revenue sharing mechanism, whereby revenues from retail base operations in excess of certain thresholds would be shared with customers.  During the term of the 2005 rate agreement, FPL's revenues did not exceed the thresholds.

NextEra Energy Resources' revenue is recorded on the basis of commodities delivered, contracts settled or services rendered, and includes estimated amounts yet to be billed to customers.  Certain commodity contracts for the purchase and sale of power that meet the definition of a derivative are recorded at fair value with subsequent changes in fair value recognized as revenue, unless hedge accounting is applied.  See Energy Trading and Note 3.
 
Electric Plant, Depreciation and Amortization
Electric Plant, Depreciation and Amortization - The cost of additions to units of property of FPL and NextEra Energy Resources is added to electric utility plant.  In accordance with regulatory accounting, the cost of FPL's units of utility property retired, less estimated net salvage value, is charged to accumulated depreciation.  Maintenance and repairs of property as well as replacements and renewals of items determined to be less than units of utility property are charged to other operations and maintenance (O&M) expenses.  At December 31, 2010, the electric generating, transmission, distribution and general facilities of FPL represented approximately 47%, 12%, 37% and 4%, respectively, of FPL's gross investment in electric utility plant in service.  Substantially all of FPL's properties are subject to the lien of FPL's mortgage, which secures most debt securities issued by FPL.  A number of NextEra Energy Resources' generating facilities are encumbered by liens securing various financings.  The net book value of NextEra Energy Resources' assets serving as collateral was approximately  $8 billion at December 31, 2010.  The American Recovery and Reinvestment Act of 2009, as amended (Recovery Act) provided for an option to elect a cash grant (convertible ITCs) for certain renewable energy property (renewable property).  Convertible ITCs are recorded as a reduction in property, plant and equipment on NextEra Energy's and FPL's consolidated balance sheets and are amortized as a reduction to depreciation and amortization expense over the estimated life of the related property.  During 2010 and 2009, NextEra Energy recorded convertible ITCs of approximately  $1 billion ( $186 million at FPL) and  $517 million ( $44 million at FPL), respectively, of which  $429 million ( $124 million at FPL) and  $417 million ( $44 million at FPL) are included in other receivables on NextEra Energy's and FPL's consolidated balance sheets at December 31, 2010 and 2009, respectively.

Depreciation of FPL's electric property is primarily provided on a straight-line average remaining life basis.  FPL includes in depreciation expense a provision for fossil plant dismantlement, nuclear plant decommissioning (see Decommissioning of Nuclear Plants, Dismantlement of Plants and Other Accrued Asset Removal Costs) and amortization of pre-construction costs associated with planned nuclear units recovered through a cost recovery clause.  For substantially all of FPL's property, depreciation studies are performed and filed with the FPSC at least every four years.  As part of the FPSC rate order, the FPSC approved new depreciation rates which became effective January 1, 2010.  In addition, in accordance with the 2010 rate agreement, FPL can vary the amount of surplus depreciation credit taken in any calendar year up to a maximum of  $267 million (with any unused portion of the maximum rolling over to and available in subsequent years), provided its regulatory ROE remains within the range of 9% to 11%; FPL may use up to a maximum of  $776 million in surplus depreciation credit over the course of the 2010 rate agreement.  As of December 31, 2010, approximately  $772 million of the surplus depreciation credit cap remains.  Under the terms of the 2005 rate agreement, FPL's electric property depreciation rates were based upon the comprehensive depreciation studies it filed with the FPSC in March 2005; however FPL reduced depreciation by  $125 million annually as was allowed by the 2005 rate agreement.  The weighted annual composite depreciation rate for FPL's electric plant in service, including capitalized software, but excluding the effects of decommissioning, dismantlement and the depreciation adjustments discussed above, was approximately 3.2% for 2010 and 3.6% for both 2009 and 2008.  NextEra Energy Resources' electric plants in service less salvage value, if any, are depreciated primarily using the straight-line method over their estimated useful lives.  NextEra Energy Resources' effective depreciation rates, excluding decommissioning, were 4.4%, 4.2% and 4.3% for 2010, 2009 and 2008, respectively.

Nuclear Fuel
Nuclear Fuel - FPL and NextEra Energy Resources have several contracts for the supply of uranium, conversion, enrichment and fabrication of nuclear fuel.  See Note 14 - Contracts.  FPL's and NextEra Energy Resources' nuclear fuel costs are charged to fuel expense on a unit of production method.  See Note 9 - FPL regarding the leasing of nuclear fuel from a consolidated variable interest entity (VIE) by FPL prior to March 2010.
Construction Activity
Construction Activity - Allowance for funds used during construction (AFUDC) is a non-cash item which represents the allowed cost of capital, including an ROE, used to finance FPL construction projects.  The portion of AFUDC attributable to borrowed funds is recorded as a reduction of interest expense and the remainder is recorded as other income.  FPSC rules limit the recording of AFUDC to projects that cost in excess of 0.5% of a utility's plant in service balance and require more than one year to complete.  FPSC rules allow construction projects below the 0.5% threshold as a component of rate base.  During the period January 2010 through March 2010 and during April 2010 through December 2010, AFUDC was capitalized at a rate of 7.41% and 6.41%, respectively, and amounted to approximately  $50 million for the year.  During 2009 and 2008, AFUDC was capitalized at a rate of 7.41% and 7.65%, respectively, and amounted to approximately  $74 million and  $53 million, respectively.  See Note 14 - Commitments.

FPL's construction work in progress includes construction materials, progress payments on major equipment contracts, third-party engineering costs, AFUDC and other costs directly associated with the construction of various projects.  Upon completion of the projects, these costs are transferred to electric utility plant in service.  Capitalized costs associated with construction activities are charged to O&M expenses when recoverability is no longer probable.  See Regulation above for information on recovery of costs associated with new nuclear capacity and solar generating facilities.

NextEra Energy Resources capitalizes project development costs once it is probable that such costs will be realized through the ultimate construction of a power plant or sale of development rights.  At December 31, 2010 and 2009, NextEra Energy Resources' capitalized development costs totaled approximately  $99 million and  $56 million, respectively, which are included in other assets on NextEra Energy's consolidated balance sheets.  These costs include land rights and other third-party costs directly associated with the development of a new project.  Upon commencement of construction, these costs either are transferred to construction work in progress or remain in other assets, depending upon the nature of the cost.  Capitalized development costs are charged to O&M expenses when recoverability is no longer probable.
 
NextEra Energy Resources' construction work in progress includes construction materials, prepayments on turbine generators and other equipment, third-party engineering costs, capitalized interest and other costs directly associated with the construction and development of the project.  Interest capitalized on construction projects amounted to approximately  $71 million,  $85 million and  $55 million during 2010, 2009 and 2008, respectively.  Interest expense allocated from NextEra Energy Capital Holdings, Inc. (Capital Holdings), formerly known as FPL Group Capital Inc, to NextEra Energy Resources is based on a deemed capital structure of 70% debt.  Upon commencement of plant operation, costs associated with construction work in progress are transferred to electric utility plant in service and other property.

Asset Retirement Obligations
Asset Retirement Obligations - NextEra Energy and FPL each account for asset retirement obligations and conditional asset retirement obligations (collectively, AROs) under accounting guidance that requires a liability for the fair value of an ARO to be recognized in the period in which it is incurred if it can be reasonably estimated, with the offsetting associated asset retirement costs capitalized as part of the carrying amount of the long-lived assets.  The asset retirement cost is subsequently allocated to expense using a systematic and rational method over the asset’s estimated useful life.  Changes in the ARO resulting from the passage of time are recognized as an increase in the carrying amount of the liability and as accretion expense, which is included in depreciation and amortization expense in the consolidated statements of income.  Changes resulting from revisions to the timing or amount of the original estimate of cash flows are recognized as an increase or a decrease in the asset retirement cost and ARO and regulatory liability, in the case of FPL.  See Decommissioning of Nuclear Plants, Dismantlement of Plants and Other Accrued Asset Removal Costs below and Note 13.
Decommissioning of Nuclear Plants, Dismantlement of Plants and Other Accrued Asset Removal Costs
Decommissioning of Nuclear Plants, Dismantlement of Plants and Other Accrued Asset Removal Costs - For ratemaking purposes, FPL accrues for the cost of end of life retirement and disposal of its nuclear, fossil and solar plants over the expected service life of each unit based on nuclear decommissioning and fossil and solar dismantlement studies periodically filed with the FPSC.  In addition, FPL accrues for interim removal costs over the life of the related assets based on depreciation studies approved by the FPSC.  As approved by the FPSC, FPL previously suspended its annual decommissioning accrual.  For financial reporting purposes, FPL recognizes decommissioning and dismantlement liabilities in accordance with accounting guidance that requires a liability for the fair value of an ARO to be recognized in the period in which it is incurred.  Any differences between expense recognized for financial reporting purposes and the amount recoverable through rates are reported as a regulatory liability in accordance with regulatory accounting.  See Electric Plant, Depreciation and Amortization, Asset Retirement Obligations and Note 13.

Nuclear decommissioning studies are performed at least every five years and are submitted to the FPSC for approval.  FPL filed updated nuclear decommissioning studies with the FPSC in December 2010.  These studies reflect FPL's current plans, under the operating licenses, for prompt dismantlement of Turkey Point Units Nos. 3 and 4 following the end of plant operation with decommissioning activities commencing in 2032 and 2033, respectively, and provide for St. Lucie Unit No. 1 to be mothballed beginning in 2036 with decommissioning activities to be integrated with the prompt dismantlement of St. Lucie Unit No. 2 at the end of its useful life in 2043.  These studies also assume that FPL will be storing spent fuel on site pending removal to a U.S. government facility.  The studies indicate FPL's portion of the ultimate costs of decommissioning its four nuclear units, including costs associated with spent fuel storage above what is expected to be refunded by the U.S. Department of Energy (DOE) under a spent fuel settlement agreement, to be approximately  $6.2 billion.  FPL's portion of the ultimate cost of decommissioning its four units, expressed in 2010 dollars, is estimated by the studies to aggregate  $2.3 billion.

Restricted funds for the payment of future expenditures to decommission FPL's nuclear units are included in nuclear decommissioning reserve funds, which are included in special use funds on NextEra Energy's and FPL's consolidated balance sheets.  Marketable securities held in the decommissioning funds are classified as available for sale and are carried at fair value with market adjustments, including any other than temporary impairment losses, resulting in a corresponding adjustment to the related regulatory liability accounts consistent with regulatory treatment.  See Note 5.  Contributions to the funds have been suspended since 2005.  Fund earnings, net of taxes, are reinvested in the funds.  Earnings are recognized as income/loss and an offset is recorded to reflect a corresponding increase/decrease in the related regulatory liability accounts.  As a result, there is no effect on net income.  During 2010, 2009 and 2008, fund earnings on decommissioning funds were approximately  $76 million,  $81 million and  $63 million, respectively.  The tax effects of amounts not yet recognized for tax purposes are included in accumulated deferred income taxes.

Fossil and solar plant dismantlement studies are performed at least every four years and are submitted to the FPSC for approval.  FPL's latest fossil and solar plant dismantlement studies became effective January 1, 2010 and resulted in an increase in the annual expense from  $15 million to  $18 million which is recorded in depreciation and amortization expense in NextEra Energy's and FPL's consolidated statements of income.  At December 31, 2010, FPL's portion of the ultimate cost to dismantle its fossil and solar units is approximately  $860 million, or  $455 million expressed in 2010 dollars.
 
NextEra Energy Resources records nuclear decommissioning liabilities for Seabrook Station (Seabrook), Duane Arnold Energy Center (Duane Arnold) and Point Beach Nuclear Power Plant (Point Beach) in accordance with accounting guidance that requires a liability for the fair value of an ARO to be recognized in the period in which it is incurred.  The liability is being accreted using the interest method through the date decommissioning activities are expected to be complete.  See Note 13.  At December 31, 2010 and 2009, NextEra Energy Resources' ARO related to nuclear decommissioning totaled approximately  $478 million and  $518 million, respectively, and was determined using various internal and external data and applying a probability percentage to a variety of scenarios regarding the life of the plant and timing of decommissioning.  NextEra Energy Resources' portion of the ultimate cost of decommissioning its nuclear plants, including costs associated with spent fuel storage above what is expected to be refunded by the DOE under a spent fuel settlement agreement, is estimated to be approximately  $9.5 billion, or  $1.8 billion expressed in 2010 dollars.

Seabrook's decommissioning funding plan is based on a comprehensive nuclear decommissioning study filed with the New Hampshire Nuclear Decommissioning Financing Committee (NDFC) in 2007 and is effective for four years.  Currently, there are no ongoing decommissioning funding requirements for Duane Arnold and Point Beach, however, the U.S. Nuclear Regulatory Commission (NRC) has the authority to require additional funding in the future.  NextEra Energy Resources' portion of Seabrook's, Duane Arnold's and Point Beach's restricted funds for the payment of future expenditures to decommission these plants is included in nuclear decommissioning reserve funds, which are included in special use funds on NextEra Energy's consolidated balance sheets.  Marketable securities held in the decommissioning funds are classified as available for sale and are carried at fair value.  Market adjustments result in a corresponding adjustment to other comprehensive income (OCI), except for unrealized losses associated with marketable securities considered to be other than temporary, including any credit losses, which are recognized as other than temporary impairment losses on securities held in nuclear decommissioning funds in NextEra Energy's consolidated statements of income.  Fund earnings are recognized in income and are reinvested in the funds either on a pretax or after-tax basis.  See Note 5.  The tax effects of amounts not yet recognized for tax purposes are included in accumulated deferred income taxes.

Major Maintenance Costs
Major Maintenance Costs - FPL uses the accrue-in-advance method for recognizing costs associated with planned major nuclear maintenance, in accordance with regulatory treatment, and records the related accrual as a regulatory liability.  FPL expenses costs associated with planned fossil maintenance as incurred.  FPL's estimated nuclear maintenance costs for each nuclear unit's next planned outage are accrued over the period from the end of the last outage to the end of the next planned outage.  Any difference between the estimated and actual costs is included in O&M expenses when known.  The accrued liability for nuclear maintenance costs at December 31, 2010 and 2009 totaled approximately  $58 million and  $47 million, respectively, and is included in regulatory liabilities - other.  For the years ended December 31, 2010, 2009 and 2008, FPL recognized approximately  $100 million,  $84 million and  $75 million, respectively, in nuclear maintenance costs which are included in O&M expenses in NextEra Energy's and FPL's consolidated statements of income.

NextEra Energy Resources uses the deferral method to account for certain planned major maintenance costs.  NextEra Energy Resources' major maintenance costs for its nuclear generating units and combustion turbines are capitalized and amortized on a unit of production method over the period from the end of the last outage to the beginning of the next planned outage.  NextEra Energy Resources' capitalized major maintenance costs, net of accumulated amortization, totaled approximately  $95 million and  $106 million at December 31, 2010 and 2009, respectively, and are included in other assets.  For the years ended December 31, 2010, 2009 and 2008, NextEra Energy Resources recognized approximately  $88 million,  $73 million and  $57 million in major maintenance costs which are included in O&M expenses in NextEra Energy's consolidated statements of income.

Cash Equivalents
Cash Equivalents - Cash equivalents consist of short-term, highly liquid investments with original maturities of three months or less.
Restricted Cash
Restricted Cash - At December 31, 2010 and 2009, NextEra Energy had approximately  $111 million ( $39 million for FPL) and  $134 million ( $33 million for FPL), respectively, of restricted cash included in other current assets on NextEra Energy's and FPL's consolidated balance sheets, which is restricted primarily for margin cash collateral and debt service payments.  Where offsetting positions exist, restricted cash related to margin cash collateral is netted against derivative instruments.  See Note 3.

Allowance for Doubtful Accounts
Allowance for Doubtful Accounts - FPL maintains an accumulated provision for uncollectible customer accounts receivable that is estimated using a percentage, derived from historical revenue and write-off trends, of the previous five months of revenue.  Additional amounts are included in the provision to address specific items that are not considered in the calculation described above.  NextEra Energy Resources regularly reviews collectibility of its receivables and establishes a provision for losses estimated as a percentage of accounts receivable based on the historical bad debt write-off trends for its retail electricity provider operations and, when necessary, using the specific identification method for all other receivables.
Inventory
Inventory - FPL values materials, supplies and fossil fuel inventory using a weighted-average cost method.  NextEra Energy Resources' materials, supplies and fossil fuel inventories are carried at the lower of weighted-average cost or market, unless evidence indicates that the weighted-average cost (even if in excess of market) will be recovered with a normal profit upon sale in the ordinary course of business.
Energy Trading
Energy Trading - NextEra Energy provides full energy and capacity requirements services primarily to distribution utilities, which include load-following services and various ancillary services, in certain markets and engages in power and gas marketing and trading activities to optimize the value of electricity and fuel contracts and generating facilities, as well as to take advantage of expected favorable commodity price movements.  Trading contracts that meet the definition of a derivative are accounted for at fair value and realized gains and losses from all trading contracts, including those where physical delivery is required, are recorded net for all periods presented.  See Note 3.

Securitized Storm-Recovery Costs, Storm Fund and Storm Reserve
Securitized Storm-Recovery Costs, Storm Fund and Storm Reserve - In connection with the 2007 storm-recovery bond financing (see Note 9 - FPL), the net proceeds to FPL from the sale of the storm-recovery property were used primarily to reimburse FPL for its estimated net of tax deficiency in its storm and property insurance reserve (storm reserve) and provide for a storm and property insurance reserve fund (storm fund).  Upon the issuance of the storm-recovery bonds, the storm reserve deficiency was reclassified to securitized storm-recovery costs and is recorded as a regulatory asset on NextEra Energy's and FPL's consolidated balance sheets.  As storm-recovery charges are billed to customers, the securitized storm-recovery costs are amortized, the amount of which is included in depreciation and amortization on NextEra Energy's and FPL's consolidated statements of income.  Marketable securities held in the storm fund are classified as available for sale and are carried at fair value with market adjustments, including any other than temporary impairment losses, resulting in a corresponding adjustment to the storm reserve.  Fund earnings, net of taxes, are reinvested in the fund.  The tax effects of amounts not yet recognized for tax purposes are included in accumulated deferred income taxes.  The storm fund is included in special use funds on NextEra Energy's and FPL's consolidated balance sheets and was approximately  $125 million and  $123 million at December 31, 2010 and 2009, respectively.  See Note 5.

The storm reserve that was reestablished in an FPSC financing order related to the issuance of the storm-recovery bonds is not reflected in NextEra Energy's and FPL's consolidated balance sheets as of December 31, 2010 or 2009 because the associated regulatory asset does not meet the specific recognition criteria under regulatory accounting guidance.  As a result, the storm reserve will be recognized as a regulatory liability as the storm-recovery charges are billed to customers and charged to depreciation and amortization on NextEra Energy's and FPL's consolidated statements of income.  Although NextEra Energy's and FPL's consolidated balance sheets as of December 31, 2010 reflect a storm reserve of approximately  $43 million (included in regulatory liabilities - other on NextEra Energy's and FPL's consolidated balance sheets), FPL had the capacity to absorb up to approximately  $205 million in future prudently incurred storm restoration costs without seeking recovery through a rate adjustment from the FPSC or filing a petition with the FPSC.

Impairment of Long-Lived Assets
Impairment of Long-Lived Assets - NextEra Energy evaluates on an ongoing basis the recoverability of its assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.  An impairment loss is required to be recognized if the carrying value of the asset exceeds the undiscounted future net cash flows associated with that asset.  The impairment loss to be recognized is the amount by which the carrying value of the long-lived asset exceeds the asset's fair value.  In most instances, the fair value is determined by discounting estimated future cash flows using an appropriate interest rate.
Goodwill and Other Intangible Assets
NextEra Energy Resources has recorded goodwill related to various acquisitions which were accounted for using the purchase method of accounting.  NextEra Energy Resources' other intangible assets are amortized, primarily on a straight-line basis, over their estimated useful lives.  For the years ended December 31, 2010, 2009 and 2008, amortization expense was approximately  $18 million,  $14 million and  $13 million, respectively, and is expected to be approximately  $14 million,  $13 million,  $10 million,  $8 million and  $6 million for 2011, 2012, 2013, 2014 and 2015, respectively.
NextEra Energy Resources' goodwill and other intangible assets are included in other assets on NextEra Energy's consolidated balance sheets.  Goodwill is assessed for impairment at least annually by applying a fair value-based test.  Other intangible assets are periodically reviewed when impairment indicators are present to assess recoverability from future operations using undiscounted future cash flows.
Pension and Other Postretirement Plans
Pension and Other Postretirement Plans - NextEra Energy allocates net periodic pension benefit income to its subsidiaries based on the pensionable earnings of the subsidiaries' employees; net periodic supplemental executive retirement plan (SERP) benefit costs to its subsidiaries based upon actuarial calculations by participant; and postretirement health care and life insurance benefits (other benefits) net periodic benefit costs to its subsidiaries based upon the number of eligible employees at each subsidiary.

NextEra Energy's regulatory assets and liabilities were established in association with the implementation of accounting guidance in a prior year which requires recognition of the funded status of benefit plans in the balance sheet, with changes in the funded status recognized in comprehensive income within shareholders' equity in the year in which the changes occur.  Since NextEra Energy is the plan sponsor, and its subsidiaries do not have separate rights to the plan assets or direct obligations to their employees, the results of implementing the accounting guidance were reflected at NextEra Energy and not allocated to the subsidiaries.  The portion of previously unrecognized actuarial gains and losses, prior service costs or credits and transition obligations that were estimated to be allocable to FPL as net periodic benefit (income) cost in future periods and that otherwise would have been recorded in accumulated other comprehensive income (AOCI) were classified as regulatory assets and liabilities at NextEra Energy in accordance with regulatory treatment.

Stock-Based Compensation
Stock-Based Compensation - NextEra Energy accounts for stock-based payment transactions based on grant-date fair value.  Compensation costs for awards with graded vesting are recognized on a straight-line basis over the requisite service period for the entire award.  See Note 11 - Stock-Based Compensation.
Retirement of Long-Term Debt
Retirement of Long-Term Debt - Gains and losses that result from differences in FPL's reacquisition cost and the book value of long-term debt which is retired are deferred as a regulatory asset or liability and amortized to interest expense ratably over the remaining life of the original issue, which is consistent with its treatment in the ratemaking process.  Capital Holdings recognizes such differences as other income (deductions) at the time of retirement.

Income Taxes
Income Taxes - Deferred income taxes are provided on all significant temporary differences between the financial statement and tax bases of assets and liabilities.  In connection with the tax sharing agreement between NextEra Energy and its subsidiaries, the income tax provision at each subsidiary reflects the use of the "separate return method," except that tax benefits that could not be used on a separate return basis, but are used on the consolidated tax return, are recorded by the subsidiary that generated the tax benefits.  Any remaining consolidated income tax benefits or expenses are recorded at the corporate level.  Included in other regulatory assets on NextEra Energy's and FPL's consolidated balance sheets is the revenue equivalent of the difference in accumulated deferred income taxes computed under accounting rules, as compared to regulatory accounting rules.  This amount totaled  $151 million and  $137 million at December 31, 2010 and 2009, respectively, and is being amortized in accordance with the regulatory treatment over the estimated lives of the assets or liabilities for which the deferred tax amount was initially recognized.  Investment tax credits (ITCs) for FPL are deferred and amortized to income over the approximate lives of the related property in accordance with the regulatory treatment.  At December 31, 2010 and 2009, deferred ITCs were approximately  $7 million and  $8 million, respectively, and are included in other regulatory liabilities on NextEra Energy's and FPL's consolidated balance sheets.  NextEra Energy Resources recognizes ITCs as a reduction to income tax expense when the related energy property is placed into service.  Production tax credits (PTCs) are recognized as wind energy is generated and sold based on a per kwh rate prescribed in applicable federal and state statutes and are recorded as a reduction of current income taxes payable, unless limited by tax law in which instance they are recorded as deferred tax assets.  NextEra Energy and FPL record a deferred income tax benefit created by the convertible ITCs on the difference between the financial statement and tax bases of renewable property.  For NextEra Energy Resources, this deferred income tax benefit is recorded in income tax expense in the year that the renewable property is placed in service.  For FPL, this deferred income tax benefit is offset by a regulatory liability, which is amortized as a reduction of depreciation expense over the approximate lives of the related renewable property in accordance with the regulatory treatment.  At December 31, 2010 and 2009, the net deferred income tax benefits associated with the convertible ITCs were approximately  $58 million and  $14 million, respectively, and are included in other regulatory assets and regulatory liabilities on NextEra Energy's and FPL's consolidated balance sheets.  A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets when it is more likely than not that such assets will not be realized.  All tax positions taken by NextEra Energy in its income tax returns that are recognized in the financial statements must satisfy a more-likely-than-not threshold.  See Note 6.
 
Sale of Differential Membership Interests Sale of Differential Membership Interests - Certain indirect wholly-owned subsidiaries of NextEra Energy Resources sold their Class B membership interest in entities that have ownership interests in wind facilities to third-party investors.
In exchange for the cash received, the holders of the Class B membership interests will receive a portion of the economic attributes of the facilities, including tax attributes, for a variable period.  Recognition of the proceeds from the sale of the differential membership interests was deferred and is recorded in deferral related to differential membership interests on NextEra Energy's consolidated balance sheets.  The deferred amount is being recognized as an adjustment to taxes other than income taxes and other in NextEra Energy's consolidated statements of income as the Class B members receive their portion of the economic attributes.  NextEra Energy continues to operate and manage the wind facilities, and consolidates the entities that own the wind facilities.
Guarantees
Guarantees - NextEra Energy's and FPL's payment guarantees and related contracts provided to unconsolidated entities entered into after December 31, 2002, for which it or a subsidiary is the guarantor, are recorded at fair value.  See Note 14 - Commitments.
Variable Interest Entities (VIEs)
Variable Interest Entities (VIEs) - 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 VIEs.  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.  NextEra Energy and FPL evaluate whether an entity is a VIE whenever reconsideration events as defined by the accounting guidance occur.  See Note 9.
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Derivative Instruments (Policies)
12 Months Ended
Dec. 31, 2010
Derivative Instruments [Policies] [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 outstanding and forecasted 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 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 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 consolidated statements of income.  Settlement gains and losses are included within the line items in the consolidated statements of income to which they relate.  Settlements related to derivative instruments are primarily recognized in net cash provided by operating activities in NextEra Energy's and FPL's consolidated statements of cash flows.
 
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 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 OCI and is reclassified into earnings in the period(s) during which the transaction being hedged affects earnings.  See Note 7.  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 December 31, 2010, NextEra Energy's AOCI included amounts related to the discontinued commodity cash flow hedges which have expiration dates through December 2012.  Additionally, at December 31, 2010, NextEra Energy had interest rate cash flow hedges with expiration dates through September 2028 and foreign currency cash flow hedges with expiration dates through September 2030.

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Fair Value Measurements (Policies)
12 Months Ended
Dec. 31, 2010
Fair Value Measurements [Policies] [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.  Non-performance risk is also considered in the determination of fair value for all assets and liabilities measured at fair value, including the consideration of a credit valuation adjustment.

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 indirectly through commingled funds.  Substantially all directly held equity securities are valued at their quoted market prices.  For directly held debt securities, multiple prices and price types are obtained from pricing vendors whenever possible, which enables cross-provider validations.  A primary price source is identified based on asset type, class or issue of each security.  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.

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.

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 full requirements 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 outstanding and forecasted debt issuances and borrowings.  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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Summary of Significant Accounting and Reporting Policies (Tables)
12 Months Ended
Dec. 31, 2010
Summary of Significant Accounting and Reporting Policies [Tables] [Abstract]
Goodwill
Goodwill and Other Intangible Assets - NextEra Energy's goodwill and other intangible assets are as follows:

 
Weighted Average
Useful Lives
 
December 31,
 
(Years)
 
2010
 
2009
       
(millions)
Goodwill:
               
Merchant reporting unit
     
 $
72
 
 $
72
Wind reporting unit
       
45
   
41
Total goodwill
     
 $
117
 
 $
113
                 
Other intangible assets:
               
Purchase power agreements
19
   
 $
87
 
 $
87
Customer lists
7
     
34
   
28
Other, primarily land and transmission rights, permits and licenses
27
     
249
   
216
Total
       
370
   
331
Less accumulated amortization
       
93
   
78
Total other intangible assets - net
     
 $
277
 
 $
253

Other Intangible Assets
Goodwill and Other Intangible Assets - NextEra Energy's goodwill and other intangible assets are as follows:

 
Weighted Average
Useful Lives
 
December 31,
 
(Years)
 
2010
 
2009
       
(millions)
Goodwill:
               
Merchant reporting unit
     
 $
72
 
 $
72
Wind reporting unit
       
45
   
41
Total goodwill
     
 $
117
 
 $
113
                 
Other intangible assets:
               
Purchase power agreements
19
   
 $
87
 
 $
87
Customer lists
7
     
34
   
28
Other, primarily land and transmission rights, permits and licenses
27
     
249
   
216
Total
       
370
   
331
Less accumulated amortization
       
93
   
78
Total other intangible assets - net
     
 $
277
 
 $
253

Sale of differential membership interests
Sale of Differential Membership Interests - Certain indirect wholly-owned subsidiaries of NextEra Energy Resources sold their Class B membership interest in entities that have ownership interests in wind facilities to third-party investors.  Information related to these sales is as follows:

Date
 
Proceeds
 
Generating Capacity
 
Wind Facilities
   
(millions)
 
(mw)
   
                 
December 2007
   
 $705
   
598
 
Logan Wind, Mower County Wind, Oliver County Wind I and II, and Peetz Table Wind
April 2010
   
 $190
   
170
 
Ashtabula Wind II and Wilton Wind II
September 2010
   
 $75
(a)
 
309
 
Crystal Lake I, Langdon Wind and Langdon Wind II
¾¾¾¾¾¾¾¾¾¾
(a)  
NextEra Energy will receive future capital contributions from the third-party investor on a semi-annual basis through December 31, 2018 based on the amount of PTCs generated by the facilities.  At December 31, 2010, the future capital contributions are expected to total approximately  $207 million based on projected wind generation.

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Employee Retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2010
Employee Retirement Benefits [Tables] [Abstract]
Plan assets, benefit obligations, and funded status included in the consolidated balance sheets
Plan Assets, Benefit Obligations and Funded Status - The changes in assets and benefit obligations of the plans and the plans' funded status are as follows:

   
Pension Benefits
  
Other Benefits
 
   
2010
  
2009
  
2010
  
2009
 
   
(millions)
 
              
Change in plan assets:
            
Fair value of plan assets at January 1
  $3,028   $2,503   $32   $29 
Actual return on plan assets
  380   656   2   5 
Employer contributions(a)
  3   -   28   29 
Transfers(b)
  (29 )  (29 )  -   - 
Participant contributions
  -   -   9   7 
Benefit payments(a)
  (149 )  (102 )  (39 )  (38 )
Fair value of plan assets at December 31
  $3,233   $3,028   $32   $32 
                  
Change in benefit obligation:
                
Obligation at January 1
  $1,866   $1,604   $430   $367 
Service cost
  59   51   6   5 
Interest cost
  102   109   23   24 
Participant contributions
  -   -   9   7 
Plan amendments(c)
  1   3   -   (1 )
Special termination benefits(d)
  13   -   -   - 
Actuarial losses (gains) - net
  102   201   (12 )  66 
Benefit payments
  (149 )  (102 )  (39 )  (38 )
Obligation at December 31(e)
  $1,994   $1,866   $417   $430 
                  
Funded status:
                
Prepaid (accrued) benefit cost at NextEra Energy at December 31
  $1,239   $1,162   $(385)  $(398)
Prepaid (accrued) benefit cost at FPL at December 31
  $1,027   $1,009   $(279)  $(282)
¾¾¾¾¾¾¾¾¾¾
(a)  
Employer contributions and benefit payments include only those amounts contributed directly to, or paid directly from, plan assets.  FPL's portion of contributions related to SERP benefits was  $1 million for 2010.  FPL's portion of contributions related to other benefits was  $26 million and  $27 million for 2010 and 2009, respectively.
(b)  
Represents amounts that were transferred from the qualified pension plan as reimbursement for eligible retiree medical expenses paid by NextEra Energy pursuant to the provisions of the Internal Revenue Code (IRC).
(c)  
Primarily relates to union negotiated credits, IRC transfers and various SERP and other benefits amendments.
(d)
Reflects an enhanced early retirement program offered during 2010.
(e)  
NextEra Energy's accumulated benefit obligation, which includes no assumption about future salary levels, for its pension plans at December 31, 2010 and 2009 was  $1,935 million and  $1,804 million, respectively.

NextEra Energy's and FPL's prepaid (accrued) benefit cost shown above are included in the consolidated balance sheets as follows:

   
NextEra Energy
 
FPL
 
   
Pension Benefits
  
Other Benefits
 
Pension Benefits
  
Other Benefits
 
   
2010
  
2009
  
2010
 
2009
 
2010
  
2009
  
2010
  
2009
 
           
(millions)
          
                          
Prepaid benefit costs
  $1,259   $1,184   $-   $-   $1,035   $1,017   $-   $- 
Accrued benefit cost included in other current liabilities
  (3 )  (2 )  (27 )  (29 )  (2 )  (2 )  (23 )  (24 )
Accrued benefit cost included in other liabilities
  (17 )  (20 )  (358 )  (369 )  (6 )  (6 )  (256 )  (258 )
Prepaid (accrued) benefit cost at December 31
  $1,239   $1,162   $(385)  $(398)  $1,027   $1,009   $(279)  $(282)

Unrecognized amounts included in accumulated other comprehensive income (loss)
NextEra Energy's unrecognized amounts included in accumulated other comprehensive income (loss) yet to be recognized as components of prepaid (accrued) benefit cost are as follows:

   
Pension Benefits
 
Other Benefits
 
   
2010
 
2009
 
2010
 
2009
 
         
(millions)
       
Components of AOCI:
                         
Unrecognized prior service benefit (cost) (net of  $2 and  $2 tax benefit, respectively)
 
 $
(4
)
 $
(3
)
 $
-
 
 $
-
 
Unrecognized transition obligation (net of  $1 and  $1 tax benefit, respectively)
   
-
   
-
   
(1
)
 
(1
)
Unrecognized gain (loss) (net of  $5 tax expense,  $4 tax expense,  $5 tax benefit and  $6 tax benefit, respectively)
   
8
   
7
   
(4
)
 
(6
)
Total
 
 $
4
(a)
 $
4
 
 $
(5
)(b)
 $
(7
)
¾¾¾¾¾¾¾¾¾¾
(a)  
Approximately  $1 million of prior service benefits is expected to be reclassified into earnings within the next 12 months.
(b)  
Approximately  $1 million of transition obligations is expected to be reclassified into earnings within the next 12 months.
 
Unrecognized amounts included in regulatory assets (liabilities)
NextEra Energy's unrecognized amounts included in regulatory assets (liabilities) yet to be recognized as components of net prepaid (accrued) benefit cost are as follows:

 
Regulatory Assets (Liabilities)
(Pension)
 
Regulatory Assets
(SERP and Other)
 
 
2010
 
2009
 
2010
 
2009
 
 
(millions)
 
                         
Unrecognized prior service cost
 $
13
 
 $
10
 
 $
1
 
 $
2
 
Unrecognized transition obligation
 
-
   
-
   
4
   
7
 
Unrecognized (gain) loss
 
(64
)
 
(28
)
 
37
   
45
 
Total
 $
(51
)(a)
 $
(18
)
 $
42
(b)
 $
54
 
¾¾¾¾¾¾¾¾¾¾
(a)  
Approximately  $1 million of prior service benefits will be reclassified into earnings within the next 12 months.
(b)  
Approximately  $2 million of transition obligations will be reclassified into earnings within the next 12 months.

Significant assumptions used to determine benefit obligations and net periodic benefit (income) cost
The following table provides the weighted-average assumptions used to determine benefit obligations for the plans.  These rates are used in determining net periodic benefit cost in the following year.

 
Pension Benefits
 
Other Benefits
 
2010
 
2009
 
2010
 
2009
               
Discount rate
5.00%
 
5.50%
 
5.25%
 
5.50%
Salary increase
4.00%
 
4.00%
 
4.00%
 
4.00%

The weighted-average assumptions used to determine net periodic benefit (income) cost for the plans are as follows:

 
Pension Benefits
 
Other Benefits
 
2010
 
2009
 
2008
 
2010
 
2009
 
2008
                       
Discount rate
5.50%
 
6.90%
 
6.25%
 
5.50%
 
6.90%
 
6.35%
Salary increase
4.00%
 
4.00%
 
4.00%
 
4.00%
 
4.00%
 
4.00%
Expected long-term rate of return(a)
7.75%
 
7.75%
 
7.75%
 
8.00%
 
8.00%
 
8.00%
¾¾¾¾¾¾¾¾¾¾
(a)  
In developing the expected long-term rate of return on assets assumption for its plans, NextEra Energy evaluated input from its actuaries as well as information available in the marketplace.  NextEra Energy considered the 10-year and 20-year historical median returns for a portfolio with an equity/bond asset mix similar to its funds.  NextEra Energy also considered its funds' historical compounded returns.  No specific adjustments were made to reflect expectations of future returns.

Fair value measurements of pension plan assets by hierarchy level
The fair value measurements of NextEra Energy's pension plan assets by fair value hierarchy level are as follows:

 
December 31, 2010(a)
 
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
 
(millions)
                       
Equity
 $
800
(b)
 $
6
 
 $
-
 
 $
806
Equity commingled vehicles
 
-
   
669
(c)
 
11
   
680
U.S. Government and municipal bonds
 
60
   
35
   
-
   
95
Corporate debt securities(d)
 
-
   
335
   
-
   
335
Mortgage-backed securities
 
-
   
263
   
-
   
263
Debt security commingled vehicles(e)
 
-
   
744
   
-
   
744
Convertible bonds
 
-
   
310
   
-
   
310
Total
 $
860
 
 $
2,362
 
 $
11
 
 $
3,233
¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
See Note 4 for discussion of NextEra Energy's fair value measurement techniques.
(b)  
Includes foreign investments of  $293 million.
(c)  
Includes foreign investments of  $219 million.
(d)  
Includes foreign investments of  $47 million.
(e)  
Includes foreign investments of  $56 million and  $206 million of short-term commingled vehicles.

 
December 31, 2009(a)
 
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
 
(millions)
                       
Equity
 $
424
 
 $
-
 
 $
-
 
 $
424
Equity commingled vehicles(b)
 
-
   
941
   
-
   
941
U.S. Government and municipal bonds
 
77
   
30
   
-
   
107
Corporate debt securities(c)
 
-
   
399
   
-
   
399
Mortgage-backed securities
 
-
   
361
   
-
   
361
Debt security commingled vehicles(d)
 
-
   
503
   
-
   
503
Convertible bonds
 
-
   
293
   
-
   
293
Total
 $
501
 
 $
2,527
 
 $
-
 
 $
3,028
¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
See Note 4 for discussion of NextEra Energy's fair value measurement techniques.
(b)  
Includes foreign investments of  $499 million.
(c)  
Includes foreign investments of  $45 million.
(d)  
Includes foreign investments of  $56 million and  $53 million of short-term commingled vehicles.

Expected benefit payments, net of government drug subsidy
The following table provides information about benefit payments expected to be paid by the plans, net of government drug subsidy, for each of the following calendar years:

   
Pension
Benefits
  
Other
Benefits
 
   
(millions)
 
        
2011
  $173   $34 
2012
  $167   $35 
2013
  $169   $34 
2014
  $163   $32 
2015
  $159   $32 
2016 - 2020
  $814   $153 

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

 
Pension Benefits
 
Other Benefits
 
 
2010
 
2009
 
2008
 
2010
 
2009
 
2008
 
             
(millions)
             
                                     
Service cost
 $
59
 
 $
51
 
 $
54
 
 $
6
 
 $
5
 
 $
5
 
Interest cost
 
102
   
109
   
102
   
23
   
24
   
25
 
Expected return on plan assets
 
(241
)
 
(239
)
 
(240
)
 
(2
)
 
(3
)
 
(3
)
Amortization of transition obligation
 
-
   
-
   
-
   
3
   
4
   
4
 
Amortization of prior service benefit
 
(3
)
 
(3
)
 
(4
)
 
-
   
-
   
-
 
Amortization of gains
 
1
   
(23
)
 
(29
)
 
-
   
-
   
-
 
SERP settlements
 
1
   
-
   
-
   
-
   
-
   
-
 
Special termination benefits
 
13
   
-
   
-
   
-
   
-
   
-
 
Net periodic benefit (income) cost at NextEra Energy
 $
(68
)
 $
(105
)
 $
(117
)
 $
30
 
 $
30
 
 $
31
 
Net periodic benefit (income) cost at FPL
 $
(42
)
 $
(73
)
 $
(84
)
 $
23
 
 $
23
 
 $
24
 

Components of net periodic benefit income (cost) recognized in OCI
Other Comprehensive Income - The components of net periodic benefit income (cost) recognized in OCI for the plans are as follows:

   
Pension Benefits
  
Other Benefits
 
   
2010
  
2009
  
2010
  
2009
 
      
(millions)
    
              
Prior service cost
  $-   $(1)  $-   $- 
Net gains (losses) (net of none,  $24 tax expense,  $1 tax expense and  $7 tax benefit, respectively)
  1   38   2   (10 )
Transition obligation
  -   -   -   (1 )
Amortization of prior service benefit
  (1 )  (1 )  -   - 
Amortization of net gains (net of  $3 tax benefit)
  -   (4 )  -   - 
Amortization of transition obligation
  -   -   -   1 
Total
  $-   $32   $2   $(10)

Components of net periodic benefit (income) cost recognized in regulatory assets (liabilities)
Regulatory Assets (Liabilities) - The components of net periodic benefit (income) cost recognized during the year in regulatory assets (liabilities) for the plans are as follows:

   
Regulatory
Assets (Liabilities)
(Pension)
  
Regulatory Assets
(SERP and Other)
 
   
2010
  
2009
  
2010
  
2009
 
   
(millions)
 
              
Prior service cost
  $1   $2   $-   $- 
Unrecognized (gains) losses
  (35 )  (159 )  (9 )  51 
Transition obligation
  -   -   -   (2 )
Amortization of prior service benefit
  2   3   -   - 
Amortization of gains
  -   16   -   - 
Amortization of transition obligation
  -   -   (2 )  (3 )
Total
  $(32)  $(138)  $(11)  $46 
 
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Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2010
Derivative Instruments [Tables] [Abstract]
Net fair values of mark-to-market derivative instrument assets (liabilities)
The net fair values of NextEra Energy's and FPL's mark-to-market derivative instrument assets (liabilities) are included in the consolidated balance sheets as follows:

 
NextEra Energy
 
FPL
 
 
December 31,
 
December 31,
 
 
2010
 
2009
 
2010
 
2009
 
 
(millions)
 
                         
Current derivative assets(a)
 $
506
 
 $
357
 
 $
8
(b)
 $
10
(b)
Noncurrent other assets(c)
 
589
   
329
   
1
   
4
 
Current derivative liabilities(d)
 
(536
)
 
(221
)
 
(245
)
 
(77
)
Noncurrent derivative liabilities(e)
 
(243
)
 
(170
)
 
-
   
(1
)(f)
Total mark-to-market derivative instrument assets (liabilities)
 $
316
 
 $
295
 
 $
(236
)
 $
(64
)
¾¾¾¾¾¾¾¾¾¾
(a)  
At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $23 million and  $4 million (none at FPL), respectively, in margin cash collateral received from counterparties.
(b)  
Included in current other assets on FPL's consolidated balance sheets.
(c)  
At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $43 million and  $1 million (none at FPL), respectively, in margin cash collateral received from counterparties.
(d)  
At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $23 million and  $75 million (none at FPL), respectively, in margin cash collateral provided to counterparties.
(e)  
At December 31, 2010, NextEra Energy's balance reflects the netting of approximately  $72 million (none at FPL) in margin cash collateral provided to counterparties.
(f)  
Included in noncurrent other liabilities on FPL's consolidated balance sheets.

Fair values of derivatives designated as hedging instruments
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.

   
December 31, 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
  -   64   -   51 
Noncurrent other assets
  91   -   61   - 
Noncurrent derivative liabilities
  -   59   -   27 
Foreign currency swaps:
                
Current derivative assets
  24   -   -   - 
Current derivative liabilities
  -   4   -   - 
Noncurrent other assets
  11   -   5   - 
Total
  $142   $127   $217   $98 

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

   
Year Ended
December 31, 2010
 
Year Ended
December 31, 2009
   
Commodity
Contracts
 
Interest
Rate
Swaps
 
Foreign
Currency
Swaps
 
Total
 
Commodity
Contracts
 
Interest
Rate
Swaps
 
Foreign
Currency
Swap
 
Total
   
(millions)
                                                 
Gains (losses) recognized in OCI
 
 $
20
 
 $
(52
)
 $
24
 
 $
(8
)
 $
197
 
 $
28
 
 $
3
 
 $
228
Gains (losses) reclassified from AOCI to net income
 
 $
118
(a)
 $
(65
)(b)
 $
20
(c)
 $
73
 
 $
164
(a)
 $
(39
)(b)
 $
4
(e)
 $
129
Gains (losses) recognized in income(d)
 
 $
1
(a)
 $
-
 
 $
-
 
 $
1
 
 $
29
(a)
 $
-
 
 $
-
 
 $
29
¾¾¾¾¾¾¾¾¾¾
(a)  
Included in operating revenues.
(b)  
Included in interest expense.
(c)  
Loss of approximately  $4 million is included in interest expense and the balance is included in other - net.
(d)  
Represents the ineffective portion of the hedging instrument.
(e)  
Loss of approximately  $1 million is included in interest expense and the balance is included in other - net.

Fair values of derivatives not designated as hedging instruments
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.

   
December 31, 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
 
 $
754
 
 $
278
 
 $
9
(a)
 $
1
(a)
 $
611
 
 $
303
 
 $
11
(a)
 $
1
(a)
Current derivative liabilities
   
1,848
   
2,339
   
12
   
257
   
1,002
   
1,288
   
18
   
95
 
Noncurrent other assets
   
687
   
157
   
1
   
-
   
921
   
699
   
4
   
-
 
Noncurrent derivative liabilities
   
828
   
1,084
   
-
   
-
   
128
   
260
   
-
   
1
(b)
Foreign currency swap:
                                                 
Current derivative assets
   
13
   
-
   
-
   
-
   
-
   
-
   
-
   
-
 
Noncurrent derivative liabilities
   
-
   
-
   
-
   
-
   
-
   
6
   
-
   
-
 
Total
 
 $
4,130
 
 $
3,858
 
 $
22
 
 $
258
 
 $
2,662
 
 $
2,556
 
 $
33
 
 $
97
 
¾¾¾¾¾¾¾¾¾¾
(a)  
Included in current other assets on FPL's consolidated balance sheets.
(b)  
Included in noncurrent other liabilities on FPL's consolidated balance sheets.

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

 
Year Ended December 31,
 
 
2010
 
2009
 
 
(millions)
 
Commodity contracts:
           
Operating revenues
 $
531
(a)
 $
279
(a)
Fuel, purchased power and interchange
 
1
   
28
 
Foreign currency swap:
           
Other - net
 
18
   
(3
)
Total
 $
550
 
 $
304
 
¾¾¾¾¾¾¾¾¾¾
(a)  
In addition, for the year ended December 31, 2010 and 2009, FPL recorded approximately  $665 million and  $688 million of losses, respectively, related to commodity contracts as regulatory assets on its consolidated balance sheets.

Net notional volumes
At December 31, 2010, NextEra Energy and FPL had derivative commodity contracts for the following net notional volumes:

Commodity Type
 
NextEra Energy
 
FPL
   
(millions)
         
Power
 
(62
)
mwh(a)
 
-
 
Natural gas
 
1,009
 
mmbtu(b)
 
794
 mmbtu(b)
¾¾¾¾¾¾¾¾¾¾
(a)  
Megawatt-hours
(b)  
One million British thermal units

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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2010
Fair Value Measurements [Tables] [Abstract]
Financial assets and liabilities and other fair value measurements
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:

   
December 31, 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
 
 $
-
 
 $
122
 
 $
-
 
 $
-
 
 $
122
 
FPL - equity securities
 
 $
-
 
 $
7
 
 $
-
 
 $
-
 
 $
7
 
Special use funds:
                               
NextEra Energy:
                               
Equity securities
 
 $
741
 
 $
1,245
(b)
 $
-
 
 $
-
 
 $
1,986
 
U.S. Government and municipal bonds
 
 $
495
 
 $
127
 
 $
-
 
 $
-
 
 $
622
 
Corporate debt securities
 
 $
-
 
 $
486
 
 $
-
 
 $
-
 
 $
486
 
Mortgage-backed securities
 
 $
-
 
 $
447
 
 $
-
 
 $
-
 
 $
447
 
Other debt securities
 
 $
-
 
 $
108
 
 $
-
 
 $
-
 
 $
108
 
FPL:
                               
Equity securities
 
 $
125
 
 $
1,082
(b)
 $
-
 
 $
-
 
 $
1,207
 
U.S. Government and municipal bonds
 
 $
458
 
 $
111
 
 $
-
 
 $
-
 
 $
569
 
Corporate debt securities
 
 $
-
 
 $
334
 
 $
-
 
 $
-
 
 $
334
 
Mortgage-backed securities
 
 $
-
 
 $
381
 
 $
-
 
 $
-
 
 $
381
 
Other debt securities
 
 $
-
 
 $
41
 
 $
-
 
 $
-
 
 $
41
 
Other investments:
                               
NextEra Energy:
                               
Equity securities
 
 $
3
 
 $
1
 
 $
-
 
 $
-
 
 $
4
 
U.S. Government and municipal bonds
 
 $
8
 
 $
4
 
 $
-
 
 $
-
 
 $
12
 
Corporate debt securities
 
 $
-
 
 $
32
 
 $
-
 
 $
-
 
 $
32
 
Mortgage-backed securities
 
 $
-
 
 $
58
 
 $
-
 
 $
-
 
 $
58
 
Other
 
 $
5
 
 $
10
 
 $
-
 
 $
-
 
 $
15
 
Derivatives:
                               
NextEra Energy:
                               
Commodity contracts
 
 $
1,755
 
 $
1,538
 
 $
824
 
 $
(3,177
)
 $
940
(c)
Interest rate swaps
 
 $
-
 
 $
107
 
 $
-
 
 $
-
 
 $
107
(c)
Foreign currency swaps
 
 $
-
 
 $
48
 
 $
-
 
 $
-
 
 $
48
(c)
FPL - commodity contracts
 
 $
-
 
 $
14
 
 $
8
 
 $
(13
)
 $
9
(c)
Liabilities:
                               
Derivatives:
                               
NextEra Energy:
                               
Commodity contracts
 
 $
1,821
 
 $
1,509
 
 $
528
 
 $
(3,206
)
 $
652
(c)
Interest rate swaps
 
 $
-
 
 $
123
 
 $
-
 
 $
-
 
 $
123
(c)
Foreign currency swaps
 
 $
-
 
 $
4
 
 $
-
 
 $
-
 
 $
4
(c)
FPL - commodity contracts
 
 $
-
 
 $
257
 
 $
1
 
 $
(13
)
 $
245
(c)
¾¾¾¾¾¾¾¾¾¾
(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  $1,084 million ( $980 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 3 for a reconciliation of net derivatives to NextEra Energy's and FPL's 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)
¾¾¾¾¾¾¾¾¾¾
(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 3 for a reconciliation of net derivatives to NextEra Energy's and FPL's consolidated balance sheets.
 
Reconciliation of changes in the fair value of derivatives measured based on significant unobservable inputs
The reconciliation of changes in the fair value of derivatives that are based on significant unobservable inputs is as follows:

   
Year Ended December 31,
 
   
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)
  407   -   555   - 
Included in regulatory assets and liabilities
  1   1   7   7 
Purchases, sales, settlements and net option premiums
  (432 )  (5 )  (521 )  6 
Net transfers in/out(b)
  (44 )  -   (81 )  (1 )
Fair value of net derivatives based on significant unobservable inputs at December 31
  $296   $7   $364   $11 
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)
  $170   $-   $270   $- 
¾¾¾¾¾¾¾¾¾¾
(a)  
For the year ended December 31, 2010 and 2009,  $384 million and  $555 million, respectively, of realized and unrealized gains are reflected in operating revenues in the consolidated statements of income.  For the year ended December 31, 2010,  $23 million of realized and unrealized gains are reflected in fuel, purchased power and interchange in the consolidated statements of income.
(b)  
For the year ended December 31, 2010, gross transfers of  $2 million into Level 3 were a result of decreased observability of market data, and gross transfers of  $46 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 year ended December 31, 2010 and 2009,  $153 million and  $270 million, respectively, of unrealized gains are reflected in operating revenues in the consolidated statements of income.  For the year ended December 31, 2010,  $17 million of unrealized gains are reflected in fuel, purchased power and interchange in the consolidated statements of income.

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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2010
Financial Instruments [Tables] [Abstract]
Estimates of the Fair Value of Financial Instruments
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.

   
December 31, 2010
 
December 31, 2009
 
   
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
 
   
(millions)
 
NextEra Energy:
     
Special use funds
 
 $
3,742
(a)
 $
3,742
(b)
 $
3,390
(a)
 $
3,390
(b)
Other investments:
                         
Notes receivable
 
 $
525
 
 $
583
(c)
 $
534
 
 $
556
(c)
Debt securities
 
 $
114
(d)
 $
114
(b)
 $
104
(d)
 $
104
(b)
Equity securities
 
 $
57
 
 $
125
(e)
 $
45
 
 $
105
(e)
Long-term debt, including current maturities
 
 $
19,929
 
 $
20,756
(f)
 $
16,869
 
 $
17,256
(f)
Interest rate swaps - net unrealized losses
 
 $
(16
)
 $
(16
)(g)
 $
(17
)
 $
(17
)(g)
Foreign currency swaps - net unrealized gains (losses)
 
 $
44
 
 $
44
(g)
 $
(1
)
 $
(1
)(g)
                           
FPL:
                         
Special use funds
 
 $
2,637
(a)
 $
2,637
(b)
 $
2,408
(a)
 $
2,408
(b)
Long-term debt, including current maturities
 
 $
6,727
 
 $
7,236
(f)
 $
5,836
 
 $
6,055
(f)
¾¾¾¾¾¾¾¾¾¾
(a)  
At December 31, 2010, includes  $76 million of investments accounted for under the equity method and  $17 million of loans not measured at fair value on a recurring basis ( $94 million and  $11 million, respectively, for FPL).  For the remaining balance, see Note 4 for classification by major security type.  The amortized cost of debt and equity securities is  $1,616 million and  $1,489 million, respectively, at December 31, 2010 and  $1,638 million and  $1,396 million, respectively, at December 31, 2009 ( $1,281 million and  $943 million, respectively, at December 31, 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.  Notes receivable are considered impaired and placed in non-accrual status when it becomes probable that all amounts due cannot be collected in accordance with the contractual terms of the agreement.  The assessment to place notes receivable in non-accrual status considers various credit indicators, such as credit standings and ratings and market-related information.  As of December 31, 2010, neither NextEra Energy nor FPL had any material notes receivable reported in non-accrual status.
(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.

Available-for-sale Securities
Unrealized losses on available for sale debt securities at December 31, 2010 and 2009 were not material to NextEra Energy or FPL.  The unrealized gains on available for sale securities are as follows:

   
NextEra Energy
 
FPL
 
   
December 31,
 
December 31,
 
   
2010
 
2009
 
2010
  
2009
 
     
(millions)
    
              
Equity securities
  $612   $400   $384   $240 
U.S. Government and municipal bonds
  $15   $14   $15   $13 
Corporate debt securities
  $23   $21   $19   $16 
Mortgage-backed securities
  $20   $22   $18   $18 
Other debt securities
  $2   $1   $1   $1 

Realized gains and losses and proceeds from the sale of available for sale securities are as follows:

 
NextEra Energy
 
FPL
 
 
Years Ended December 31,
 
Years Ended December 31,
 
 
2010
 
2009
 
2008
 
2010
 
2009
 
2008
 
 
(millions)
 
                    
Realized gains
  $106   $108   $50   $49   $48   $38 
Realized losses
  $30   $30   $54   $22   $25   $50 
Proceeds from sale of securities
  $6,726   $4,592   $2,235   $5,079   $3,270   $1,454 
 
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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2010
Income Taxes [Tables] [Abstract]
Components of income taxes
The components of income taxes are as follows:

   
NextEra Energy
  
FPL
 
   
Years Ended December 31,
  
Years Ended December 31,
 
   
2010
  
2009
  
2008
  
2010
  
2009
  
2008
 
   
(millions)
 
Federal:
                  
Current(a)
  $11   $(18)  $(132)  $113   $63   $117 
Deferred
  434   290   542   385   342   259 
Total federal
  445   272   410   498   405   376 
State:
                        
Current(a)
  11   77   29   49   57   34 
Deferred
  76   (22 )  11   33   11   33 
Total state
  87   55   40   82   68   67 
Total income taxes
  $532   $327   $450   $580   $473   $443 
¾¾¾¾¾¾¾¾¾¾
(a)  
Includes provision for unrecognized tax benefits.
 
Reconciliation between the effective income tax rates and the applicable statutory rates
A reconciliation between the effective income tax rates and the applicable statutory rates is as follows:

   
NextEra Energy
  
FPL
 
   
Years Ended December 31,
  
Years Ended December 31,
 
   
2010
  
2009
  
2008
  
2010
  
2009
  
2008
 
                    
Statutory federal income tax rate
  35.0 %  35.0 %  35.0 %  35.0 %  35.0 %  35.0 %
Increases (reductions) resulting from:
                        
State income taxes - net of federal income tax benefit
  2.4   1.9   1.3   3.5   3.4   3.5 
Allowance for other funds used during construction
  (0.5 )  (1.0 )  (0.6 )  (0.8 )  (1.5 )  (1.1 )
Amortization of ITCs - FPL
  (0.1 )  (0.4 )  (0.7 )  (0.2 )  (0.6 )  (1.2 )
PTCs and ITCs - NextEra Energy Resources
  (12.2 )  (13.1 )  (12.7 )  -   -   - 
Convertible ITCs - NextEra Energy Resources
  (2.5 )  (4.3 )  -   -   -   - 
Other - net
  (0.7 )  (1.2 )  (0.7 )  0.5   -   (0.3 )
Effective income tax rate
  21.4 %  16.9 %  21.6 %  38.0 %  36.3 %  35.9 %

Income tax effects of temporary differences giving rise to consolidated deferred income tax liabilities and assets
The income tax effects of temporary differences giving rise to consolidated deferred income tax liabilities and assets are as follows:

 
NextEra Energy
 
FPL
 
December 31,
 
December 31,
 
2010
 
2009
 
2010
 
2009
 
(millions)
Deferred tax liabilities:
                     
Property-related
 $
7,795
 
 $
6,968
 
 $
4,532
 
 $
4,202
Pension
 
485
   
457
   
399
   
392
Storm reserve deficiency
 
258
   
279
   
258
   
279
Nuclear decommissioning trusts
 
146
   
201
   
-
   
-
Net unrealized gains on derivatives
 
226
   
116
   
-
   
-
Deferred fuel costs
 
101
   
-
   
101
   
-
Other
 
638
   
371
   
187
   
157
Total deferred tax liabilities
 
9,649
   
8,392
   
5,477
   
5,030
                       
Deferred tax assets and valuation allowance:
                     
Decommissioning reserves
 
393
   
379
   
323
   
313
Postretirement benefits
 
175
   
183
   
130
   
133
Net operating loss carryforwards
 
663
(a)
 
270
(a)
 
-
   
-
Tax credit carryforwards
 
1,819
(b)
 
1,364
(b)
 
-
   
-
ARO and accrued asset removal costs
 
895
   
896
   
802
   
811
Other
 
790
   
683
   
309
   
249
Valuation allowance(c)
 
(246
)
 
(129
)
 
-
   
-
Net deferred tax assets
 
4,489
   
3,646
   
1,564
   
1,506
Net accumulated deferred income taxes
 $
5,160
 
 $
4,746
 
 $
3,913
 
 $
3,524
¾¾¾¾¾¾¾¾¾¾
(a)  
Reflects  $42 million and  $(26) million, respectively, of tax carryforwards related to NextEra Energy's unrecognized tax benefits.
(b)  
Amount is presented net of  $52 million and  $58 million, respectively, of tax carryforwards that are available to offset NextEra Energy's liability for unrecognized tax benefits.
(c)  
Amount relates to deferred state tax credits and state operating loss carryforwards.

Deferred tax assets and liabilities included in the consolidated balance sheets
Deferred tax assets and liabilities are included in the consolidated balance sheets as follows:

   
NextEra Energy
 
FPL
 
   
December 31,
 
December 31,
 
   
2010
 
2009
 
2010
  
2009
 
     
(millions)
    
              
Other current assets
  $17   $128   $-   $- 
Other assets
  106   -   -   - 
Other current liabilities
  (174 )  (14 )  (78 )  (15 )
Accumulated deferred income taxes
  (5,109 )  (4,860 )  (3,835 )  (3,509 )
Net accumulated deferred income taxes
  $(5,160)  $(4,746)  $(3,913)  $(3,524)
 
Components of deferred tax assets relating to net operating loss carryforwards
The components of NextEra Energy's deferred tax assets relating to net operating loss carryforwards and tax credit carryforwards at December 31, 2010 are as follows:

 
Amount
 
Expiration
Dates
 
(millions)
   
         
Net operating loss carryforwards:
       
Federal
 $
484
(a)
2026 - 2030
State
 
170
 
2014 - 2030
Foreign
 
9
 
2021 - 2030
Net operating loss carryforwards
 $
663
   
         
Tax credit carryforwards:
       
Federal
 $
1,539
(b)
2022 - 2030
State
 
280
 
2011 - 2035
Net tax credit carryforwards
 $
1,819
   
¾¾¾¾¾¾¾¾¾¾
(a)  
Amount includes  $42 million of tax carryforwards related to NextEra Energy's unrecognized tax benefits.
(b)  
Amount is presented net of  $52 million of tax carryforwards that are available to offset NextEra Energy's liability for unrecognized tax benefits.

Components of deferred tax assets relating to tax credit carryforwards
The components of NextEra Energy's deferred tax assets relating to net operating loss carryforwards and tax credit carryforwards at December 31, 2010 are as follows:

 
Amount
 
Expiration
Dates
 
(millions)
   
         
Net operating loss carryforwards:
       
Federal
 $
484
(a)
2026 - 2030
State
 
170
 
2014 - 2030
Foreign
 
9
 
2021 - 2030
Net operating loss carryforwards
 $
663
   
         
Tax credit carryforwards:
       
Federal
 $
1,539
(b)
2022 - 2030
State
 
280
 
2011 - 2035
Net tax credit carryforwards
 $
1,819
   
¾¾¾¾¾¾¾¾¾¾
(a)  
Amount includes  $42 million of tax carryforwards related to NextEra Energy's unrecognized tax benefits.
(b)  
Amount is presented net of  $52 million of tax carryforwards that are available to offset NextEra Energy's liability for unrecognized tax benefits.

Reconciliation of unrecognized tax benefits
A reconciliation of unrecognized tax benefits is as follows:

   
NextEra Energy
  
FPL
 
   
2010
  
2009
  
2008
  
2010
  
2009
  
2008
 
   
(millions)
 
                    
Balance at beginning of year
  $279   $249   $320   $247   $217   $281 
Additions based on tax positions related to the current year
  4   24   14   -   24   13 
Reductions based on tax positions related to the current year
  -   -   (44 )  -   -   (44 )
Additions for tax positions of the prior years
  67   26   91   53   26   89 
Reductions for tax positions of the prior years
  (86 )  (20 )  (40 )  (85 )  (20 )  (30 )
Reductions relating to settlements with taxing authorities
  -   -   (92 )  -   -   (92 )
Balance at end of year(a)
  264   279   249   215   247   217 
Tax carryforwards, deposits and other receivables
  (259 )  (239 )  (219 )  (184 )  (192 )  (176 )
Balance at end of year, net
  $5   $40   $30   $31   $55   $41 
¾¾¾¾¾¾¾¾¾¾
(a)  
Amounts are net of the federal tax benefit of state tax positions of approximately  $15 million,  $16 million and  $14 million ( $11 million,  $12 million and  $11 million for FPL), respectively.
 
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Comprehensive Income (Tables)
12 Months Ended
Dec. 31, 2010
Comprehensive Income [Tables] [Abstract]
Components of comprehensive income and accumulated other comprehensive income (loss)
The components of NextEra Energy's comprehensive income and accumulated other comprehensive income (loss) are as follows:

     
Accumulated
Other Comprehensive Income (Loss)
   
 
Net
Income
 
Net
Unrealized
Gains
(Losses)
On Cash
Flow Hedges
 
Other
 
Total
 
Comprehensive
Income
 
(millions)
                                 
Balances, December 31, 2007
     
 $
(81
)
 $
197
 
 $
116
         
Net income of NextEra Energy
 $
1,639
                     
 $
1,639
 
Net unrealized gains (losses) on cash flow hedges:
                               
Effective portion of net unrealized gains
       
(4
)
 
-
   
(4
)
   
(4
)
Reclassification from AOCI to net income (net of  $66 tax expense)
       
90
   
-
   
90
     
90
 
Net unrealized losses on available for sale securities (net of  $30 tax benefit)
       
-
   
(46
)
 
(46
)
   
(46
)
Adjustments between AOCI and retained earnings
       
-
   
(1
)
 
(1
)
   
-
 
Defined benefit pension and other benefits plans (net of  $104 tax benefit)
       
-
   
(168
)
 
(168
)
   
(167
)
Balances, December 31, 2008
       
5
   
(18
)
 
(13
)
 
 $
1,512
 
Net income of NextEra Energy
 $
1,615
                     
 $
1,615
 
Net unrealized gains (losses) on cash flow hedges:
                               
Effective portion of net unrealized gains (net of  $90 tax expense)
       
137
   
-
   
137
     
137
 
Reclassification from AOCI to net income (net of  $50 tax benefit)(a)
       
(75
)
 
-
   
(75
)
   
(75
)
Net unrealized gains (losses) on available for sale securities:
                               
Net unrealized gains on securities still held (net of  $77 tax expense)
       
-
   
119
   
119
     
119
 
Reclassification from AOCI to net income (net of  $17 tax benefit)
       
-
   
(27
)
 
(27
)
   
(27
)
Adjustments between AOCI and retained earnings
       
-
   
(5
)
 
(5
)
   
-
 
Defined benefit pension and other benefits plans (net of  $14 tax expense)
       
-
   
22
   
22
     
22
 
Net unrealized gains on foreign currency translation (net of  $5 tax expense)
       
-
   
11
   
11
     
11
 
Balances, December 31, 2009
       
67
   
102
   
169
   
 $
1,802
 
Net income of NextEra Energy
 $
1,957
                     
 $
1,957
 
Net unrealized gains (losses) on cash flow hedges:
                               
Effective portion of net unrealized losses (net of  $3 tax benefit)
       
(5
)
 
-
   
(5
)
   
(5
)
Reclassification from AOCI to net income (net of  $35 tax benefit)
       
(38
)
 
-
   
(38
)
   
(38
)
Net unrealized gains (losses) on available for sale securities:
                               
Net unrealized gains on securities still held (net of  $41 tax expense)
       
-
   
60
   
60
     
60
 
Reclassification from AOCI to net income (net of  $16 tax benefit)
       
-
   
(21
)
 
(21
)
   
(21
)
Defined benefit pension and other benefits plans (net of  $1 tax expense)
       
-
   
2
   
2
     
2
 
Net unrealized losses on foreign currency translation
       
-
   
(1
)
 
(1
)
   
(1
)
Balances, December 31, 2010
     
 $
24
(b)
 $
142
(c)
 $
166
   
 $
1,954
 
¾¾¾¾¾¾¾¾¾¾
(a)  
Includes amounts reclassified into earnings due to discontinuance of cash flow hedges of approximately  $3 million (net of  $2 million tax benefit) for which the hedged transactions are no longer probable of occurring.
(b)  
Approximately  $4 million of losses, related to derivative instruments, is 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.
(c)  
Approximately  $1 million of prior service benefits and approximately  $1 million of transition obligations is expected to be reclassified into earnings within the next twelve months.
 
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Jointly-Owned Electric Plants (Tables)
12 Months Ended
Dec. 31, 2010
Jointly-Owned Electric Plants [Tables] [Abstract]
Proportionate Ownership Interest In Jointly-Owned Facilities
NextEra Energy's and FPL's proportionate ownership interest in jointly-owned facilities is as follows:

 
December 31, 2010
 
Ownership
Interest
 
Gross
Investment(a)
 
Accumulated
Depreciation(a)
 
Construction Work
in Progress
   
(millions)
                             
FPL:
                           
St. Lucie Unit No. 2
85
%
 
 $
1,359
   
 $
585
   
 $
199
 
St. Johns River Power Park units and coal terminal
20
%
 
 $
391
   
 $
152
   
 $
3
 
Scherer Unit No. 4
76
%
 
 $
703
   
 $
218
   
 $
251
 
NextEra Energy Resources:
                           
Duane Arnold
70
%
 
 $
324
   
 $
62
   
 $
27
 
Seabrook
88.23
%
 
 $
848
   
 $
141
   
 $
71
 
Wyman Station Unit No. 4
84.35
%
 
 $
104
   
 $
39
   
 $
-
 
Corporate and Other:
                           
Transmission substation assets located in Seabrook, New Hampshire
88.23
%
 
 $
59
   
 $
12
   
 $
5
 
¾¾¾¾¾¾¾¾¾¾
(a)  
Excludes nuclear fuel.

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Investments in Partnerships and Joint Ventures (Tables)
12 Months Ended
Dec. 31, 2010
Investments in Partnerships and Joint Ventures [Tables] [Abstract]
Summarized combined information for principal operating entities
Summarized combined information for these principal operating entities is as follows:

   
2010
  
2009
 
   
(millions)
 
        
Net income
  $81   $78 
Total assets
  $660   $717 
Total liabilities
  $210   $354 
Partners'/members' equity
  $450   $363 
          
NextEra Energy Resources' share of underlying equity in the principal operating entities
  $223   $180 
Difference between investment carrying amount and underlying equity in net assets(a)
  (26 )  (15 )
NextEra Energy Resources' investment carrying amount for the principal operating entities
  $197   $165 
¾¾¾¾¾¾¾¾¾¾
(a)  
The majority of the difference between the investment carrying amount and the underlying equity in net assets is being amortized over the remaining life of the investee's assets.

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Common and Preferred Stock (Tables)
12 Months Ended
Dec. 31, 2010
Common and Preferred Stock [Tables] [Abstract]
Reconciliation of basic and diluted earnings per share of common stock
Earnings Per Share - The reconciliation of NextEra Energy's basic and diluted earnings per share of common stock is as follows:

   
Years Ended December 31,
 
   
2010
  
2009
  
2008
 
   
(millions, except per share amounts)
 
           
Numerator - net income
  $1,957   $1,615   $1,639 
Denominator:
            
Weighted-average number of common shares outstanding - basic
  410.3   404.4   400.1 
Options, performance share awards, restricted stock, equity units and warrants(a)
  2.7   2.8   2.6 
Weighted-average number of common shares outstanding - assuming dilution
  413.0   407.2   402.7 
              
Earnings per share of common stock:
            
Basic
  $4.77   $3.99   $4.10 
Assuming dilution
  $4.74   $3.97   $4.07 
¾¾¾¾¾¾¾¾¾¾
(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.  Options, performance share awards, restricted stock, equity units and warrants are included in diluted weighted-average number of common shares outstanding by applying the treasury stock method.

Restricted stock, performance share awards, and option activity
The activity in restricted stock and performance share awards for the year ended December 31, 2010 was as follows:

 
Shares
 
Weighted-Average
Grant Date
Fair Value
Per Share
             
Restricted Stock:
           
Nonvested balance, January 1, 2010
1,143,282
   
 $
55.55
 
Granted
607,000
   
 $
46.72
 
Vested
(523,365
)
 
 $
57.42
 
Forfeited
(72,327
)
 
 $
50.21
 
Nonvested balance, December 31, 2010
1,154,590
   
 $
50.40
 
             
Performance Share Awards:
           
Nonvested balance, January 1, 2010
1,157,343
   
 $
51.20
 
Granted
717,590
   
 $
42.95
 
Vested
(465,780
)
 
 $
53.97
 
Forfeited
(90,755
)
 
 $
48.26
 
Nonvested balance, December 31, 2010
1,318,398
   
 $
45.96
 
 
Option activity for the year ended December 31, 2010 was as follows:

 
Shares
Underlying
Options
 
Weighted-
Average
Exercise
Price
Per Share
 
Weighted-
Average
Remaining
Contractual
Term
(years)
 
Aggregate
Intrinsic
Value
(millions)
                           
Balance, January 1, 2010
5,739,263
 
 $
35.65
                 
Granted
687,001
 
 $
45.71
                 
Exercised
(1,384,015
)
 $
29.52
                 
Forfeited
(3,197
)
 $
64.69
                 
Expired
(2,400
)
 $
25.27
                 
Balance, December 31, 2010
5,036,652
 
 $
38.69
     
4.4
   
 $
73
 
                           
Exercisable, December 31, 2010
3,942,358
 
 $
35.85
     
3.2
   
 $
68
 

Assumptions used to estimate fair value of options
The fair value of the options is estimated on the date of the grant using the Black-Scholes option-pricing model and based on the following assumptions:

 
2010
 
2009
 
2008
                 
Expected volatility(a)
20.74 - 21.64
%
 
19.02 - 20.23
%
 
17.33
%
Expected dividends
3.61 - 4.39
%
 
3.35 - 3.71
%
 
2.75
%
Expected term (years)
6
(b)
 
6
(b)
 
6
(c)
Risk-free rate
1.65 - 2.91
%
 
2.68 - 2.97
%
 
3.24
%
¾¾¾¾¾¾¾¾¾¾
(a)  
Based on historical experience.
(b)  
Based on historical exercise and post-vesting cancellation experience adjusted for outstanding awards.
(c)  
NextEra Energy used the "simplified" method to calculate the expected term.

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Debt (Tables)
12 Months Ended
Dec. 31, 2010
Debt [Tables] [Abstract]
Debt Issuances and Borrowings by Subsidiaries
Long-term debt consists of the following:

   
December 31,
 
   
2010
  
2009
 
   
(millions)
 
FPL:
      
First mortgage bonds - maturing 2013 through 2041 - 4.85% to 6.20%
  $5,540   $4,640 
Storm-recovery bonds - maturing 2013 through 2021 - 5.0440% to 5.2555%(a)
  531   572 
Pollution control, solid waste disposal and industrial development revenue bonds - maturing 2020 through 2029 - variable, 0.3% and 0.2% weighted-average interest rates, respectively(b)
  633   633 
Other long-term debt - maturing 2011 through 2040 - 4.000% to 5.250%
  57   24 
Unamortized discount
  (34 )  (33 )
Total long-term debt of FPL
  6,727   5,836 
Less current maturities of long-term debt
  45   42 
Long-term debt of FPL, excluding current maturities
  6,682   5,794 
Capital Holdings:
        
Debentures - maturing 2011 through 2019 - 2.55% to 7 7/8%
  2,500   1,850 
Debentures - maturing 2011 through 2012 - variable, 1.0% and 0.9% weighted-average interest rate, respectively(c)(d)
  450   450 
Debentures, related to NextEra Energy's equity units - maturing 2014 and 2015 - 3.60% and 1.90%
  753   350 
Junior Subordinated Debentures - maturing 2044 through 2069 - 5 7/8% to 8.75%
  2,353   2,353 
Senior secured bonds - maturing 2030 - 7.500%(e)
  500   500 
Japanese yen denominated senior notes - maturing 2030 - 5.1325%(d)
  123   - 
Japanese yen denominated term loans - maturing 2011 - variable, 2.2% and 3.3% weighted-average interest rate, respectively(c)(d)
  327   287 
Term loans - maturing 2011 through 2014 - variable, 1.2% and 1.0% weighted-average interest rate, respectively(c)
  950   910 
Fair value swap
  3   14 
Unamortized discount
  (8 )  (3 )
Total long-term debt of Capital Holdings
  7,951   6,711 
Less current maturities of long-term debt
  1,485   200 
Long-term debt of Capital Holdings, excluding current maturities
  6,466   6,511 
NextEra Energy Resources:
        
Senior secured limited recourse bonds and notes - maturing 2013 through 2037 - 5.608% to 7.59%
  2,652   2,488 
Other long-term debt - maturing 2012 through 2028 - primarily limited recourse and variable, 2.6% and 2.4% weighted-average interest rates, respectively(c)(d)
  2,521   1,833 
Canadian revolving credit facility - maturing 2013 - variable, 1.3%(c)
  82   - 
Unamortized premium
  -   1 
Total long-term debt of NextEra Energy Resources
  5,255   4,322 
Less current maturities of long-term debt
  390   327 
Long-term debt of NextEra Energy Resources, excluding current maturities
  4,865   3,995 
Total long-term debt
  $18,013   $16,300 
¾¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
Principal on the storm-recovery bonds is due on the final maturity date (the date by which the principal must be repaid to prevent a default) for each tranche, however, it began being paid semiannually and sequentially on February 1, 2008, when the first semiannual interest payment became due.
(b)  
Tax exempt bonds that permit individual bond holders to tender the bonds for purchase at any time prior to maturity.  In the event bonds are tendered for purchase, they would be remarketed by a designated remarketing agent in accordance with the related indenture.  If the remarketing is unsuccessful, FPL would be required to purchase the tax exempt bonds.  As of December 31, 2010, all tax exempt bonds tendered for purchase have been successfully remarketed.  FPL's bank revolving lines of credit are available to support the purchase of tax exempt bonds.
(c)  
Variable rate is based on an underlying index plus a margin.
(d)  
Interest rate swap agreements have been entered into for the majority of these debt issuances.
(e)  
Issued by a wholly-owned subsidiary of Capital Holdings and collateralized by a third-party note receivable held by that subsidiary.  See Note 5.

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Asset Retirement Obligations (Tables)
12 Months Ended
Dec. 31, 2010
Asset Retirement Obligations [Tables] [Abstract]
Asset retirement obligation, roll forward analysis
A rollforward of NextEra Energy's and FPL's ARO is as follows:

 
FPL
 
NextEra Energy Resources
 
NextEra Energy
 
       
(millions)
       
                   
Balance, December 31, 2008
 $
1,743
 
 $
540
 
 $
2,283
 
Liabilities incurred
 
-
   
4
   
4
 
Accretion expense
 
96
   
36
   
132
 
Revision in estimated cash flows - net
 
(6
)
 
5
   
(1
)
Balance, December 31, 2009
 
1,833
   
585
   
2,418
 
Liabilities incurred
 
-
   
3
   
3
 
Accretion expense
 
101
   
36
   
137
 
Liabilities settled
 
-
   
(1
)
 
(1
)
Revision in estimated cash flows - net
 
(851
)(a)
 
(67
)(b)
 
(918
)
Balance, December 31, 2010
 $
1,083
 
 $
556
 
 $
1,639
 
¾¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
Primarily reflects the effect of a decrease in the escalation rates used to determine the ultimate projected costs of decommissioning FPL's nuclear units and lower costs due to the expected future reimbursement by the DOE of certain spent fuel storage costs as stipulated by a spent fuel settlement agreement.
(b)  
Primarily reflects the effect of revised probability assessments regarding when assets will be retired and ultimately decommissioned and lower costs due to the expected future reimbursement by the DOE of certain spent fuel storage costs as stipulated by a spent fuel settlement agreement.
 
Funds restricted for decommissioning included in special use funds
Restricted funds for the payment of future expenditures to decommission NextEra Energy's and FPL's nuclear units included in special use funds on NextEra Energy's and FPL's consolidated balance sheets are as follows (see Note 5):

 
FPL
 
NextEra Energy Resources
 
NextEra Energy
       
(millions)
     
                 
Balance, December 31, 2010
 $
2,512
 
 $
1,105
 
 $
3,617
Balance, December 31, 2009
 $
2,285
 
 $
982
 
 $
3,267

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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2010
Commitments and Contingencies [Tables] [Abstract]
Schedule of Planned Capital Expenditures
At December 31, 2010, estimated planned capital expenditures for 2011 through 2015 were as follows:

   
2011
  
2012
  
2013
  
2014
  
2015
  
Total
 
   
(millions)
 
FPL:
                  
Generation:(a)
                  
New(b)(c)
  $1,520   $1,870   $500   $105   $-   $3,995 
Existing
  655   570   610   665   490   2,990 
Transmission and distribution
  720   870   820   760   840   4,010 
Nuclear fuel
  260   170   255   205   220   1,110 
General and other
  120   145   95   120   105   585 
Total
  $3,275   $3,625   $2,280   $1,855   $1,655   $12,690 
                          
NextEra Energy Resources:
                        
Wind(d)
  $505   $30   $10   $5   $-   $550 
Solar(e)
  955   885   420   75   -   2,335 
Nuclear(f)
  585   275   250   250   265   1,625 
Natural gas
  140   35   65   40   120   400 
Other(g)
  85   75   50   60   50   320 
Total
  $2,270   $1,300   $795   $430   $435   $5,230 
                          
Corporate and Other(h)
  $400   $490   $70   $30   $30   $1,020 
¾¾¾¾¾¾¾¾¾¾
(a)  
Includes AFUDC of approximately  $49 million,  $76 million,  $79 million,  $29 million and  $3 million in 2011 to 2015, 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  $98 million,  $75 million and  $24 million in 2011 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 754 mw added in 2010 and approximately 700 mw to 1,000 mw in 2011, at a total cost of approximately  $7 billion to  $10 billion.
(e)  
Consists of capital expenditures for planned new solar projects that have received applicable internal approvals and related transmission.  NextEra Energy Resources plans to add new solar generation of approximately 400 mw to 600 mw in 2010 through 2014, including 5 mw added in 2010, at a total cost of approximately  $3 billion to  $4 billion.
(f)  
Includes nuclear fuel.
(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 and includes AFUDC of approximately  $9 million,  $41 million and  $18 million in 2011 to 2013, respectively.

Required Capacity and/or Minimum Payments
The required capacity and/or minimum payments under the contracts discussed above as of December 31, 2010 were estimated as follows:

   
2011
  
2012
  
2013
  
2014
  
2015
  
Thereafter
 
FPL:
 
(millions)
 
Capacity payments:(a)
                  
Qualifying facilities
  $270   $290   $270   $275   $280   $2,605 
JEA and Southern subsidiaries
  $210   $210   $205   $185   $160   $195 
Other electricity suppliers
  $10   $5   $-   $-   $-   $- 
Minimum payments, at projected prices:
                        
Natural gas, including transportation and storage(b)
  $2,185   $1,130   $575   $570   $550   $7,470 
Oil(b)
  $150   $-   $-   $-   $-   $- 
Coal(b)
  $90   $70   $60   $5   $-   $- 
                          
NextEra Energy Resources(c)
  $1,250   $225   $180   $165   $165   $830 
¾¾¾¾¾¾¾¾¾¾
(a)  
Capacity payments under these contracts, substantially all of which are recoverable through the capacity clause, totaled approximately  $537 million,  $603 million and  $584 million for the years ended December 31, 2010, 2009 and 2008, respectively.  Energy payments under these contracts, which are recoverable through the fuel clause, totaled approximately  $434 million,  $439 million and  $510 million for the years ended December 31, 2010, 2009 and 2008, 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)
12 Months Ended
Dec. 31, 2010
Segment Information [Tables] [Abstract]
Segment Information
NextEra Energy's segment information is as follows:

   
2010
 
2009
 
2008
   
FPL
 
NextEra
Energy
Resources(a)
 
Corp.
and
Other
 
Total
 
FPL
 
NextEra
Energy
Resources(a)(c)
 
Corp.
and
Other(c)
 
Total
 
FPL
 
NextEra
Energy
Resources(a)(c)
 
Corp.
and
Other(c)
 
Total
                           
(millions)
                       
                                                                         
Operating revenues
 
 $
10,485
 
 $
4,636
   
 $
196
 
 $
15,317
 
 $
11,491
 
 $
3,997
   
 $
155
 
 $
15,643
 
 $
11,649
 
 $
4,570
   
 $
191
 
 $
16,410
Operating expenses
 
 $
8,636
 
 $
3,286
   
 $
152
 
 $
12,074
 
 $
9,910
 
 $
3,024
   
 $
115
 
 $
13,049
 
 $
10,120
 
 $
3,305
   
 $
160
 
 $
13,585
Interest expense
 
 $
361
 
 $
515
   
 $
103
 
 $
979
 
 $
318
 
 $
460
   
 $
71
 
 $
849
 
 $
334
 
 $
418
   
 $
61
 
 $
813
Interest income
 
 $
-
 
 $
21
   
 $
70
 
 $
91
 
 $
1
 
 $
23
   
 $
54
 
 $
78
 
 $
11
 
 $
27
   
 $
34
 
 $
72
Depreciation and amortization
 
 $
1,008
 
 $
778
   
 $
21
 
 $
1,807
 
 $
1,097
 
 $
651
   
 $
17
 
 $
1,765
 
 $
860
 
 $
565
   
 $
17
 
 $
1,442
Equity in earnings of equity method investees
 
 $
-
 
 $
58
   
 $
-
 
 $
58
 
 $
-
 
 $
52
   
 $
-
 
 $
52
 
 $
-
 
 $
93
   
 $
-
 
 $
93
Income tax expense (benefit)(b)
 
 $
580
 
 $
(11
)
 
 $
(37
)
 $
532
 
 $
473
 
 $
(158
)
 
 $
12
 
 $
327
 
 $
443
 
 $
27
   
 $
(20
)
 $
450
Net income (loss)
 
 $
945
 
 $
980
   
 $
32
 
 $
1,957
 
 $
831
 
 $
759
   
 $
25
 
 $
1,615
 
 $
789
 
 $
831
   
 $
19
 
 $
1,639
Capital expenditures, independent power and other investments and nuclear fuel purchases
 
 $
2,706
 
 $
3,072
   
 $
68
 
 $
5,846
 
 $
2,717
 
 $
3,235
   
 $
54
 
 $
6,006
 
 $
2,367
 
 $
2,829
   
 $
40
 
 $
5,236
Property, plant and equipment
 
 $
32,423
 
 $
21,304
   
 $
494
 
 $
54,221
 
 $
30,982
 
 $
18,844
   
 $
343
 
 $
50,169
 
 $
28,972
 
 $
16,268
   
 $
288
 
 $
45,528
Accumulated depreciation and amortization
 
 $
10,871
 
 $
4,073
   
 $
202
 
 $
15,146
 
 $
10,578
 
 $
3,341
   
 $
172
 
 $
14,091
 
 $
10,189
 
 $
2,771
   
 $
157
 
 $
13,117
Total assets
 
 $
28,698
 
 $
22,389
   
 $
1,907
 
 $
52,994
 
 $
26,812
 
 $
20,136
   
 $
1,510
 
 $
48,458
 
 $
26,175
 
 $
17,157
   
 $
1,489
 
 $
44,821
Investment in equity method investees
 
 $
-
 
 $
217
   
 $
10
 
 $
227
 
 $
-
 
 $
173
   
 $
10
 
 $
183
 
 $
-
 
 $
189
   
 $
9
 
 $
198
¾¾¾¾¾¾¾¾¾¾¾¾
(a)  
Interest expense allocated from Capital Holdings to NextEra Energy Resources 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)  
NextEra Energy Resources' tax expense (benefit) includes PTCs that were recognized based on its tax sharing agreement with NextEra Energy.  See Note 1 - Income Taxes.
(c)  
Segment information restated for the changes discussed above.
 
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Summarized Financial Information of Capital Holdings (Tables)
12 Months Ended
Dec. 31, 2010
Summarized Financial Information of Capital Holdings [Tables] [Abstract]
Condensed Consolidating Statements
Condensed Consolidating Statements of Income

   
Year Ended
December 31, 2010
  
Year Ended
December 31, 2009
  
Year Ended
December 31, 2008
 
   
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
   
(millions)
 
                                      
Operating revenues
  $-   $4,843   $10,474   $15,317   $-   $4,164   $11,479   $15,643   $-   $4,770   $11,640   $16,410 
Operating expenses
  (4 )  (3,446 )  (8,624 )  (12,074 )  -   (3,151 )  (9,898 )  (13,049 )  -   (3,474 )  (10,111 )  (13,585 )
Interest expense
  (15 )  (618 )  (346 )  (979 )  (17 )  (531 )  (301 )  (849 )  (18 )  (479 )  (316 )  (813 )
Other income (deductions) - net
  1,947   188   (1,910 )  225   1,632   160   (1,595 )  197   1,663   44   (1,630 )  77 
Income (loss) before income taxes
  1,928   967   (406 )  2,489   1,615   642   (315 )  1,942   1,645   861   (417 )  2,089 
Income tax expense (benefit)
  (29 )  (19 )  580   532   -   (145 )  472   327   6   2   442   450 
Net income (loss)
  $1,957   $986   $(986)  $1,957   $1,615   $787   $(787)  $1,615   $1,639   $859   $(859)  $1,639 
¾¾¾¾¾¾¾¾¾¾
(a)  
Represents FPL and consolidating adjustments.

Condensed Consolidating Balance Sheets

   
December 31, 2010
  
December 31, 2009
 
   
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guaran-
tor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
   
(millions)
 
PROPERTY, PLANT AND EQUIPMENT
                        
Electric utility plant in service and other property
  $19   $21,779   $32,423   $54,221   $2   $19,185   $30,982   $50,169 
Less accumulated depreciation and amortization
  -   (4,275 )  (10,871 )  (15,146 )  -   (3,513 )  (10,578 )  (14,091 )
Total property, plant and equipment - net
  19   17,504   21,552   39,075   2   15,672   20,404   36,078 
CURRENT ASSETS
                                
Cash and cash equivalents
  -   282   20   302   -   156   82   238 
Receivables
  654   1,380   548   2,582   453   1,247   547   2,247 
Other
  9   1,024   1,341   2,374   4   1,258   590   1,852 
Total current assets
  663   2,686   1,909   5,258   457   2,661   1,219   4,337 
OTHER ASSETS
                                
Investment in subsidiaries
  14,150   -   (14,150 )  -   12,785   -   (12,785 )  - 
Other
  365   3,845   4,451   8,661   557   3,257   4,229   8,043 
Total other assets
  14,515   3,845   (9,699 )  8,661   13,342   3,257   (8,556 )  8,043 
TOTAL ASSETS
  $15,197   $24,035   $13,762   $52,994   $13,801   $21,590   $13,067   $48,458 
                                  
CAPITALIZATION
                                
Common shareholders' equity
  $14,461   $4,359   $(4,359)  $14,461   $12,967   $4,349   $(4,349)  $12,967 
Long-term debt
  -   11,331   6,682   18,013   -   10,506   5,794   16,300 
Total capitalization
  14,461   15,690   2,323   32,474   12,967   14,855   1,445   29,267 
CURRENT LIABILITIES
                                
Debt due within one year
  -   2,664   145   2,809   -   1,729   860   2,589 
Accounts payable
  -   571   553   1,124   -   453   539   992 
Other
  352   1,361   1,258   2,971   417   1,170   1,281   2,868 
Total current liabilities
  352   4,596   1,956   6,904   417   3,352   2,680   6,449 
OTHER LIABILITIES AND DEFERRED CREDITS
                                
Asset retirement obligations
  -   556   1,083   1,639   -   585   1,833   2,418 
Accumulated deferred income taxes
  53   1,336   3,720   5,109   94   1,318   3,448   4,860 
Regulatory liabilities
  46   -   4,213   4,259   16   -   3,166   3,182 
Other
  285   1,857   467   2,609   307   1,480   495   2,282 
Total other liabilities and deferred credits
  384   3,749   9,483   13,616   417   3,383   8,942   12,742 
COMMITMENTS AND CONTINGENCIES
                                
TOTAL CAPITALIZATION AND LIABILITIES
  $15,197   $24,035   $13,762   $52,994   $13,801   $21,590   $13,067   $48,458 
¾¾¾¾¾¾¾¾¾¾
(a)  
Represents FPL and consolidating adjustments.
 
Condensed Consolidating Statements of Cash Flows

   
Year Ended
December 31, 2010
  
Year Ended
December 31, 2009
  
Year Ended
December 31, 2008
 
   
NextEra
Energy
(Guar-
antor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guar-
antor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
  
NextEra
Energy
(Guar-
antor)
  
Capital
Holdings
  
Other(a)
  
NextEra
Energy
Consoli-
dated
 
   
(millions)
 
NET CASH PROVIDED BY OPERATING ACTIVITIES
  $1,178   $1,940   $716   $3,834   $591   $1,513   $2,359   $4,463   $766   $1,182   $1,455   $3,403 
                                                  
CASH FLOWS FROM INVESTING ACTIVITIES
                                                
Capital expenditures, independent power and other investments and nuclear fuel purchases
  -   (3,140 )  (2,706 )  (5,846 )  -   (3,289 )  (2,717 )  (6,006 )  (12 )  (2,857 )  (2,367 )  (5,236 )
Capital contribution to FPL
  (660 )  -   660   -   -   -   -   -   (75 )  -   75   - 
Cash grants under the Recovery Act
  -   428   160   588   -   100   -   100   -   -   -   - 
Funding of loan
  -   -   -   -   -   -   -   -   -   (500 )  -   (500 )
Other - net
  -   5   (31 )  (26 )  (7 )  1   (23 )  (29 )  -   -   (72 )  (72 )
Net cash used in investing activities
  (660 )  (2,707 )  (1,917 )  (5,284 )  (7 )  (3,188 )  (2,740 )  (5,935 )  (87 )  (3,357 )  (2,364 )  (5,808 )
                                                  
CASH FLOWS FROM FINANCING ACTIVITIES
                                                
Issuances of long-term debt
  -   2,800   924   3,724   -   2,704   516   3,220   -   3,238   589   3,827 
Retirements of long-term debt
  -   (727 )  (42 )  (769 )  -   (1,371 )  (264 )  (1,635 )  -   (1,118 )  (240 )  (1,358 )
Proceeds from sale of differential membership interests
  -   261   -   261   -   -   -   -   -   -   -   - 
Net change in short-term debt
  -   (414 )  (716 )  (1,130 )  -   110   44   154   -   917   (69 )  848 
Issuances of common stock - net
  308   -   -   308   198   -   -   198   41   -   -   41 
Dividends on common stock
  (823 )  -   -   (823 )  (766 )  -   -   (766 )  (714 )  -   -   (714 )
Other - net
  (3 )  (1,027 )  973   (57 )  (16 )  (26 )  46   4   (6 )  (675 )  687   6 
Net cash provided by (used in) financing activities
  (518 )  893   1,139   1,514   (584 )  1,417   342   1,175   (679 )  2,362   967   2,650 
                                                  
Net increase (decrease) in cash and cash equivalents
  -   126   (62 )  64   -   (258 )  (39 )  (297 )  -   187   58   245 
Cash and cash equivalents at beginning of year
  -   156   82   238   -   414   121   535   -   227   63   290 
Cash and cash equivalents at end of year
  $-   $282   $20   $302   $-   $156   $82   $238   $-   $414   $121   $535 
¾¾¾¾¾¾¾¾¾¾
(a)  
Represents FPL and consolidating adjustments.
 
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Quarterly Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2010
Quarterly Data (Unaudited) [Tables] [Abstract]
Condensed consolidated quarterly financial information
Condensed consolidated quarterly financial information is as follows:

   
March 31(a)
 
June 30(a)
 
September 30(a)
 
December 31(a)
   
(millions, except per share amounts)
NEXTERA ENERGY:
                                       
2010
                                       
Operating revenues(b)
 
 $
3,622
     
 $
3,591
     
 $
4,691
     
 $
3,413
   
Operating income(b)
 
 $
939
     
 $
709
     
 $
1,125
     
 $
469
   
Net income(b)
 
 $
556
     
 $
417
     
 $
720
     
 $
263
   
Earnings per share(c)
 
 $
1.36
     
 $
1.02
     
 $
1.75
     
 $
0.64
   
Earnings per share - assuming dilution(c)
 
 $
1.36
     
 $
1.01
     
 $
1.74
     
 $
0.63
   
Dividends per share
 
 $
0.50
     
 $
0.50
     
 $
0.50
     
 $
0.50
   
High-low common stock sales prices
 
 $
53.75
-
45.29
 
 $
53.50
-
47.96
 
 $
55.98
-
48.44
 
 $
56.26
-
50.00
                                         
2009
                                       
Operating revenues(b)
 
 $
3,705
     
 $
3,811
     
 $
4,473
     
 $
3,655
   
Operating income(b)
 
 $
583
     
 $
605
     
 $
849
     
 $
557
   
Net income(b)
 
 $
364
     
 $
370
     
 $
533
     
 $
349
   
Earnings per share(c)
 
 $
0.90
     
 $
0.92
     
 $
1.32
     
 $
0.86
   
Earnings per share - assuming dilution(c)
 
 $
0.90
     
 $
0.91
     
 $
1.31
     
 $
0.85
   
Dividends per share
 
 $
0.4725
     
 $
0.4725
     
 $
0.4725
     
 $
0.4725
   
High-low common stock sales prices
 
 $
53.99
-
41.48
 
 $
59.00
-
49.70
 
 $
60.61
-
53.13
 
 $
56.57
-
48.55
                                         
FPL:
                                       
2010
                                       
Operating revenues(b)
 
 $
2,328
     
 $
2,580
     
 $
3,116
     
 $
2,461
   
Operating income(b)
 
 $
393
     
 $
501
     
 $
584
     
 $
371
   
Net income(b)
 
 $
191
     
 $
265
     
 $
308
     
 $
181
   
                                         
2009
                                       
Operating revenues(b)
 
 $
2,573
     
 $
2,864
     
 $
3,301
     
 $
2,753
   
Operating income(b)
 
 $
262
     
 $
396
     
 $
554
     
 $
369
   
Net income(b)
 
 $
127
     
 $
213
     
 $
306
     
 $
186
   
¾¾¾¾¾¾¾¾¾¾
(a)  
In the opinion of NextEra Energy and FPL, all adjustments, which consist of normal recurring accruals necessary to present a fair statement of the amounts shown for such periods, have been made.  Results of operations for an interim period generally will not give a true indication of results for the year.
(b)  
The sum of the quarterly amounts may not equal the total for the year due to rounding.
(c)  
The sum of the quarterly amounts may not equal the total for the year due to rounding and changes in weighted-average number of common shares outstanding.
 
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Summary of Significant Accounting and Reporting Policies (Details) (USD  $)
3 Months Ended 9 Months Ended 10 Months Ended 12 Months Ended 50 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Mar. 31, 2010
Dec. 31, 2010
Dec. 31, 2010
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Feb. 28, 2010
Dec. 31, 2010
Merchant reporting unit [Member]
Dec. 31, 2009
Merchant reporting unit [Member]
Dec. 31, 2010
Wind reporting unit [Member]
Dec. 31, 2009
Wind reporting unit [Member]
Dec. 31, 2010
Purchase power agreements [Member]
Dec. 31, 2009
Purchase power agreements [Member]
Dec. 31, 2010
Customer lists [Member]
Dec. 31, 2009
Customer lists [Member]
Dec. 31, 2010
Other, primarily land and transmission rights, permits and licenses [Member]
Dec. 31, 2009
Other, primarily land and transmission rights, permits and licenses [Member]
Dec. 31, 2007
December 2007 sale [Member]
Dec. 31, 2010
April 2010 sale [Member]
Dec. 31, 2010
September 2010 sale [Member]
Basis of Presentation [Abstract]
Approximate number of customer accounts 4,500,000 4,500,000 4,500,000
Regulation [Abstract]
Number of additional nuclear units for which pre-construction costs and carrying charges are recovered 2
Additional baseload capacity, low range (in megawatts) 400
Additional baseload capacity, high range (in megawatts) 460
Number of solar generating facilities for which pre-construction costs and carrying charges are recovered 3
Revenues and Rates [Abstract]
FPL unbilled base revenues included in customer receivables  $ 148,000,000  $ 148,000,000  $ 148,000,000  $ 121,000,000
Franchise fees and gross receipts taxes 687,000,000 791,000,000 781,000,000
Surcharges related to storm-recovery 101,000,000 91,000,000 97,000,000
FPSC rate order - 2009 rate case [Abstract]
Increase in base rate revenues 75,000,000
Regulatory return on common equity (in hundredths) 10.00%
Regulatory return on common equity range (in hundredths) 0.01
Adjusted regulatory equity ratio (in hundredths) 59.10%
Depreciation reserve surplus 895,000,000
Key elements of the stipulation and settlement agreement [Abstract]
Minimum days from the filing of a petition that future storm restoration costs are recoverable (in days) 60D
Maximum surcharge 4
Increment of usage on which surcharge is based (in kilowatt-hours) 1,000
Threshold of storm restoration costs in any given calendar year at which surcharge may be increased 800,000,000
Earned regulatory ROE threshold below which retail base rate relief may be sought (in hundredths) 9.00%
Earned regulatory ROE threshold above which retail base rate reduction may be sought (in hundredths) 11.00%
Maximum amount of surplus depreciation taken in any one calendar year 267,000,000
Maximum amount of surplus depreciation that may be used over the course of the agreement 776,000,000
2005 rate agreement [Abstract]
Number of power plants that achieved commercial operation 3
Allowed annual reduction of depreciation on plant in service 125,000,000
Electric Plant, Depreciation and Amortization [Abstract]
Percentage of electric generating assets to gross investment in electric utility plant in service (in hundredths) 47.00% 47.00% 47.00%
Percentage of electric transmission assets to gross investment in electric utility plant in service (in hundredths) 12.00% 12.00% 12.00%
Percentage of electric distribution assets to gross investment in electric utility plant in service (in hundredths) 37.00% 37.00% 37.00%
Percentage of general facilities assets to gross investment in electric utility plant in service (in hundredths) 4.00% 4.00% 4.00%
Net book value of assets serving as collateral 8,000,000,000 8,000,000,000 8,000,000,000
Convertible ITCs 1,000,000,000 517,000,000
Convertible ITCs included in other receivables 429,000,000 429,000,000 429,000,000 417,000,000
Maximum interval between depreciation studies performed and filed with the FPSC (in years) 4Y
Remaining surplus depreciation credit cap 772,000,000 772,000,000 772,000,000
FPL's composite depreciation rate for electric plant in service (in hundredths) 3.20% 3.60% 3.60%
NextEra Energy Resources' effective depreciation rates, excluding decommissioning (in hundredths) 4.40% 4.20% 4.30%
Construction Activity [Abstract]
Threshold of plant in service balance at which AFUDC may be recorded (in hundredths) 0.50%
AFUDC capitalization rate for FPL (in hundredths) 7.41% 6.41% 7.41% 7.65%
AFUDC capitalized for FPL 50,000,000 74,000,000 53,000,000
Project development costs of NextEra Energy Resources 99,000,000 99,000,000 99,000,000 56,000,000
Interest capitalized on construction projects of NextEra Energy Resources 71,000,000 85,000,000 55,000,000
Deemed capital structure of NextEra Energy Resources (in hundredths) 70.00% 70.00% 70.00%
Decommissioning of Nuclear Plants, Dismantlement of Plants and Other Accrued Asset Removal Costs [Abstract]
Maximum interval between nuclear decommissioning studies submitted to the FPSC for approval (in years) 5Y
For FPL, number of nuclear units 4
FPL's portion of the ultimate costs of nuclear decommissioning 6,200,000,000 6,200,000,000 6,200,000,000
FPL's portion of the ultimate costs of nuclear decommissioning, expressed in current year dollars 2,300,000,000 2,300,000,000 2,300,000,000
FPL's fund earnings on decommissioning funds 76,000,000 81,000,000 63,000,000
Maximum interval between plant dismantlement studies submitted to the FPSC for approval (in years) 4Y
Plant dismantlement expense approved by the FPSC, effective January 1, 2007 15,000,000 15,000,000
Plant dismantlement expense approved by the FPSC, effective January 1, 2010 18,000,000
FPL's portion of the ultimate costs of dismantlement 860,000,000 860,000,000 860,000,000
FPL's portion of the ultimate costs of plant dismantlement, expressed in current year dollars 455,000,000 455,000,000 455,000,000
NextEra Energy Resources' ARO related to nuclear decommissioning 478,000,000 478,000,000 478,000,000 518,000,000
NextEra Energy Resources' portion of the ultimate costs of nuclear decommissioning 9,500,000,000 9,500,000,000 9,500,000,000
NextEra Energy Resources' portion of the ultimate costs of nuclear decommissioning, expressed in current year dollars 1,800,000,000 1,800,000,000 1,800,000,000
Effective period for Seabrook's decommissioning funding plan (in years) 4Y
Major Maintenance Costs [Abstract]
Accrued liability for nuclear maintenance costs 58,000,000 58,000,000 58,000,000 47,000,000
Nuclear maintenance costs 100,000,000 84,000,000 75,000,000
Capitalized major maintenance costs, net of accumulated amortization 95,000,000 95,000,000 95,000,000 106,000,000
Major maintenance costs 88,000,000 73,000,000 57,000,000
Restricted Cash [Abstract]
Restricted cash 111,000,000 111,000,000 111,000,000 134,000,000
Allowance for Doubtful Accounts [Abstract]
Number of previous months of historical revenue and write-off trends used to estimate uncollectible customer accounts receivable 5M
Securitized Storm-Recovery Costs, Storm Fund and Storm Reserve [Abstract]
Storm fund included in special use funds 125,000,000 125,000,000 125,000,000 123,000,000
Storm reserve included in regulatory liabilities 43,000,000 43,000,000 43,000,000
Capacity to absorb storm restoration costs 205,000,000 205,000,000 205,000,000
Goodwill [Line Items]
Total goodwill 117,000,000 117,000,000 117,000,000 113,000,000 72,000,000 72,000,000 45,000,000 41,000,000
Other intangible assets [Line Items]
Weighted average useful lives (years) 19 7 27
Total 370,000,000 370,000,000 370,000,000 331,000,000 87,000,000 87,000,000 34,000,000 28,000,000 249,000,000 216,000,000
Less accumulated amortization (93,000,000) (93,000,000) (93,000,000) (78,000,000)
Total other intangible assets - net 277,000,000 277,000,000 277,000,000 253,000,000
Intangible assets, amortization [Abstract]
NextEra Energy Resources' amortization expense 18,000,000 14,000,000 13,000,000
NextEra Energy Resources' future amortization expense - 2011 14,000,000
NextEra Energy Resources' future amortization expense - 2012 13,000,000
NextEra Energy Resources' future amortization expense - 2013 10,000,000
NextEra Energy Resources' future amortization expense - 2014 8,000,000
NextEra Energy Resources' future amortization expense - 2015 6,000,000
Income Taxes [Abstract]
Revenue equivalent of the difference in accumulated deferred income taxes computed under accounting rules, as compared to regulatory accounting rules 151,000,000 151,000,000 151,000,000 137,000,000
Deferred investment tax credits for FPL 7,000,000 7,000,000 7,000,000 8,000,000
Net deferred income tax benefits associated with convertible ITCs 58,000,000 58,000,000 58,000,000 14,000,000
Sale of differential membership interests [Line Items]
Proceeds 261,000,000 0 0 705,000,000 190,000,000 75,000,000 [1]
Generating Capacity (in megawatts) 598 170 309
Wind Facilities Logan Wind, Mower County Wind, Oliver County Wind I and II, and Peetz Table Wind Ashtabula Wind II and Wilton Wind II Crystal Lake I, Langdon Wind and Langdon Wind II
Future capital contributions expected to be received  $ 207,000,000  $ 207,000,000  $ 207,000,000
[1] NextEra Energy will receive future capital contributions from the third-party investor on a semi-annual basis through December 31, 2018 based on the amount of PTCs generated by the facilities. At December 31, 2010, the future capital contributions are expected to total approximately  $207 million based on projected wind generation.
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Employee Retirement Benefits (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2010
Pension Benefits [Member]
Dec. 31, 2009
Pension Benefits [Member]
Dec. 31, 2008
Pension Benefits [Member]
Dec. 31, 2010
Other Benefits [Member]
Dec. 31, 2009
Other Benefits [Member]
Dec. 31, 2008
Other Benefits [Member]
Dec. 31, 2010
SERP and Other Benefits [Member]
Dec. 31, 2009
SERP and Other Benefits [Member]
Change in plan assets:
Fair value of plan assets at January 1  $ 3,028  $ 2,503  $ 32  $ 29
Actual return on plan assets 380 656 2 5
Employer contributions 3 [1] 0 [1] 28 [1] 29 [1]
Transfers (29) [2] (29) [2] 0 [2] 0 [2]
Participant contributions 0 0 9 7
Benefit payments (149) [1] (102) [1] (39) [1] (38) [1]
Fair value of plan assets at December 31 3,233 3,028 2,503 32 32 29
Change in benefit obligation:
Obligation at January 1 1,866 [3] 1,604 430 [3] 367
Service cost 59 51 54 6 5 5
Interest cost 102 109 102 23 24 25
Participant contributions 0 0 9 7
Plan amendments 1 [4] 3 [4] 0 [4] (1) [4]
Special termination benefits 13 [5] 0 0 0 0 0
Actuarial losses (gains) - net 102 201 (12) 66
Benefit payments (149) [1] (102) [1] (39) [1] (38) [1]
Obligation at December 31 1,994 [3] 1,866 [3] 1,604 417 [3] 430 [3] 367
Funded status:
Prepaid (accrued) benefit cost at December 31 1,239 1,162 (385) (398)
Accumulated benefit obligation 1,935 1,804
Amounts recognized in the consolidated balance sheets [Abstract]
Prepaid benefit costs 1,259 1,184 0 0
Accrued benefit cost included in other current liabilities (3) (2) (27) (29)
Accrued benefit cost included in other liabilities (17) (20) (358) (369)
Prepaid (accrued) benefit cost at December 31 1,239 1,162 (385) (398)
Components of AOCI:
Unrecognized prior service benefit (cost) (net of  $2 and  $2 tax benefit, respectively) (4) (3) 0 0
Unrecognized transition obligation (net of  $1 and  $1 tax benefit, respectively) 0 0 (1) (1)
Unrecognized gain (loss) (net of  $5 tax expense,  $4 tax expense,  $5 tax benefit and  $6 tax benefit, respectively) 8 7 (4) (6)
Total 4 [6] 4 (5) [7] (7)
Tax effects on components of AOCI [Abstract]
Tax expense (benefit) related to unrecognized prior service benefit (cost) (2) (2)
Tax expense (benefit) related to unrecognized transition obligation (1) (1)
Tax expense (benefit) related to unrecognized gain (loss) 5 4 (5) (6)
Prior service benefits expected to be reclassified from AOCI into earnings within the next 12 months 1 1
Transition obligations expected to be reclassified from AOCI into earnings within the next 12 months 1 1
Unrecognized amounts included in regulatory assets (liabilities) [Abstract]
Unrecognized prior service cost 13 10 1 2
Unrecognized transition obligation 0 0 4 7
Unrecognized (gain) loss (64) (28) 37 45
Total (51) [8] (18) 42 [9] 54
Prior service benefits expected to be reclassified from regulatory assets (liabilities) into earnings within the next 12 months 1
Transition obligations expected to be reclassified from regulatory assets (liabilities) into earnings within the next 12 months 2
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate (in hundredths) 5.00% 5.50% 5.25% 5.50%
Salary increase (in hundredths) 4.00% 4.00% 4.00% 4.00%
Health care cost trend rate [Abstract]
Under age 65 medical benefits cost trend rate (in hundredths) 7.60%
Under age 65 prescription drug benefits cost trend rate (in hundredths) 8.20%
Age 65 and over medical benefits cost trend rate (in hundredths) 7.25%
Age 65 and over prescription drug benefits cost trend rate (in hundredths) 7.75%
Number of years medical benefits cost rates are assumed to decrease to reach the ultimate trend rate 8Y
Number of years prescription drug benefits cost rates are assumed to decrease to reach the ultimate trend rate 10Y
Ultimate trend rate (in hundredths) 5.50%
Year the ultimate trend rate is reached for medical benefits 2018
Year the ultimate trend rate is reached for prescription drug benefits 2020
Effect of one percentage point increase in assumed health care cost trend rates on accumulated benefit obligation 3
Effect of one percentage point decrease in assumed health care cost trend rates on accumulated benefit obligation  $ 3
Target asset allocations [Abstract]
Equity investments, target allocation percentage (in hundredths) 45.00% 60.00%
Fixed income investments, target allocation percentage (in hundredths) 45.00% 40.00%
Convertible bonds, target allocation percentage (in hundredths) 10.00%
[1] Employer contributions and benefit payments include only those amounts contributed directly to, or paid directly from, plan assets. FPL's portion of contributions related to SERP benefits was  $1 million for 2010. FPL's portion of contributions related to other benefits was  $26 million and  $27 million for 2010 and 2009, respectively.
[2] Represents amounts that were transferred from the qualified pension plan as reimbursement for eligible retiree medical expenses paid by NextEra Energy pursuant to the provisions of the Internal Revenue Code (IRC).
[3] NextEra Energy's accumulated benefit obligation, which includes no assumption about future salary levels, for its pension plans at December 31, 2010 and 2009 was  $1,935 million and  $1,804 million, respectively.
[4] Primarily relates to union negotiated credits, IRC transfers and various SERP and other benefits amendments.
[5] Reflects an enhanced early retirement program offered during 2010.
[6] Approximately  $1 million of prior service benefits is expected to be reclassified into earnings within the next 12 months.
[7] Approximately  $1 million of transition obligations is expected to be reclassified into earnings within the next 12 months.
[8] Approximately  $1 million of prior service benefits will be reclassified into earnings within the next 12 months.
[9] Approximately  $2 million of transition obligations will be reclassified into earnings within the next 12 months.
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Employee Retirement Benefits - Additional Disclosures (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Components of net periodic benefit income (cost) recognized in OCI [Abstract]
Total  $ 2  $ 22  $ (167)
Employee contribution plans [Abstract]
Defined contribution expense 34 38 37
Pension Benefits [Member]
Fair value measurements of plan assets [Abstract]
Fair value 3,233 3,028 2,503
Expected benefit payments, net of government drug subsidy [Abstract]
2011 173
2012 167
2013 169
2014 163
2015 159
2016 - 2020 814
Net periodic benefit (income) cost [Abstract]
Service cost 59 51 54
Interest cost 102 109 102
Expected return on plan assets (241) (239) (240)
Amortization of transition obligation 0 0 0
Amortization of prior service benefit (3) (3) (4)
Amortization of gains 1 (23) (29)
SERP settlements 1 0 0
Special termination benefits 13 [1] 0 0
Net periodic benefit (income) cost (68) (105) (117)
Components of net periodic benefit income (cost) recognized in OCI [Abstract]
Prior service cost 0 (1)
Net gains (losses) (net of none,  $24 tax expense,  $1 tax expense and  $7 tax benefit, respectively) 1 38
Transition obligation 0 0
Amortization of prior service benefit (1) (1)
Amortization of net gains (net of  $3 tax benefit) 0 (4)
Amortization of transition obligation 0 0
Total 0 32
Tax effects on components of net periodic benefit income (cost) recognized in OCI [Abstract]
Tax expense (benefit) related to net gains (losses) 24
Tax expense (benefit) related to amortization of net gains (3)
Components of net periodic benefit (income) cost recognized in regulatory assets (liabilities) [Abstract]
Prior service cost 1 2
Unrecognized (gains) losses (35) (159)
Transition obligation 0 0
Amortization of prior service benefit 2 3
Amortization of net gains 0 16
Amortization of transition obligation 0 0
Total (32) (138)
Weighted-average assumptions used to determine net periodic benefit (income) cost [Abstract]
Discount rate (in hundredths) 5.50% 6.90% 6.25%
Salary increase (in hundredths) 4.00% 4.00% 4.00%
Expected long-term rate of return (in hundredths) 7.75% [2] 7.75% [2] 7.75% [2]
Pension Benefits [Member] | Equity [Member]
Fair value measurements of plan assets [Abstract]
Fair value 806 [3] 424 [3]
Pension Benefits [Member] | Equity [Member] | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 800 [3],[4] 424 [3]
Foreign investments 293
Pension Benefits [Member] | Equity [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 6 [3] 0 [3]
Pension Benefits [Member] | Equity commingled vehicles [Member]
Fair value measurements of plan assets [Abstract]
Fair value 680 [3] 941 [3]
Pension Benefits [Member] | Equity commingled vehicles [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 669 [3],[5] 941 [3],[6]
Foreign investments 219 499
Pension Benefits [Member] | Equity commingled vehicles [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 11 [3] 0 [3]
Pension Benefits [Member] | U.S. Government and municipal bonds [Member]
Fair value measurements of plan assets [Abstract]
Fair value 95 [3] 107 [3]
Pension Benefits [Member] | U.S. Government and municipal bonds [Member] | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 60 [3] 77 [3]
Pension Benefits [Member] | U.S. Government and municipal bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 35 [3] 30 [3]
Pension Benefits [Member] | Corporate debt securities [Member]
Fair value measurements of plan assets [Abstract]
Fair value 335 [3] 399 [3]
Pension Benefits [Member] | Corporate debt securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 335 [3],[7] 399 [3],[8]
Foreign investments 47 45
Pension Benefits [Member] | Mortgage-backed securities [Member]
Fair value measurements of plan assets [Abstract]
Fair value 263 [3] 361 [3]
Pension Benefits [Member] | Mortgage-backed securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 263 [3] 361 [3]
Pension Benefits [Member] | Debt security commingled vehicles [Member]
Fair value measurements of plan assets [Abstract]
Fair value 744 [3] 503 [3]
Pension Benefits [Member] | Debt security commingled vehicles [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 744 [3],[9] 503 [10],[3]
Foreign investments 56 56
Short-term commingled vehicles 206 53
Pension Benefits [Member] | Convertible bonds [Member]
Fair value measurements of plan assets [Abstract]
Fair value 310 [3] 293 [3]
Pension Benefits [Member] | Convertible bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 310 [3] 293 [3]
Pension Benefits [Member] | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 860 [3] 501 [3]
Pension Benefits [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 2,362 [3] 2,527 [3]
Pension Benefits [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 11 [3] 0 [3]
Other Benefits [Member]
Fair value measurements of plan assets [Abstract]
Fair value 32 32 29
Anticipated payment for eligible retiree medical expenses on behalf of the other benefits plan during 2011 28
Expected benefit payments, net of government drug subsidy [Abstract]
2011 34
2012 35
2013 34
2014 32
2015 32
2016 - 2020 153
Net periodic benefit (income) cost [Abstract]
Service cost 6 5 5
Interest cost 23 24 25
Expected return on plan assets (2) (3) (3)
Amortization of transition obligation 3 4 4
Amortization of prior service benefit 0 0 0
Amortization of gains 0 0 0
SERP settlements 0 0 0
Special termination benefits 0 0 0
Net periodic benefit (income) cost 30 30 31
Components of net periodic benefit income (cost) recognized in OCI [Abstract]
Prior service cost 0 0
Net gains (losses) (net of none,  $24 tax expense,  $1 tax expense and  $7 tax benefit, respectively) 2 (10)
Transition obligation 0 (1)
Amortization of prior service benefit 0 0
Amortization of net gains (net of  $3 tax benefit) 0 0
Amortization of transition obligation 0 1
Total 2 (10)
Tax effects on components of net periodic benefit income (cost) recognized in OCI [Abstract]
Tax expense (benefit) related to net gains (losses) 1 (7)
Weighted-average assumptions used to determine net periodic benefit (income) cost [Abstract]
Discount rate (in hundredths) 5.50% 6.90% 6.35%
Salary increase (in hundredths) 4.00% 4.00% 4.00%
Expected long-term rate of return (in hundredths) 8.00% [2] 8.00% [2] 8.00% [2]
Effect of one-percentage point increase in assumed health care cost trend rates on total service and interest cost components 1
Effect of one-percentage point decrease in assumed health care cost trend rates on total service and interest cost components 1
Other Benefits [Member] | Equity commingled vehicles [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 20 [3] 19 [3]
Foreign investments 5 4
Other Benefits [Member] | Debt security commingled vehicles [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value measurements of plan assets [Abstract]
Fair value 12 [3] 13 [3]
SERP and Other Benefits [Member]
Components of net periodic benefit (income) cost recognized in regulatory assets (liabilities) [Abstract]
Prior service cost 0 0
Unrecognized (gains) losses (9) 51
Transition obligation 0 (2)
Amortization of prior service benefit 0 0
Amortization of net gains 0 0
Amortization of transition obligation (2) (3)
Total  $ (11)  $ 46
[1] Reflects an enhanced early retirement program offered during 2010.
[2] In developing the expected long-term rate of return on assets assumption for its plans, NextEra Energy evaluated input from its actuaries as well as information available in the marketplace. NextEra Energy considered the 10-year and 20-year historical median returns for a portfolio with an equity/bond asset mix similar to its funds. NextEra Energy also considered its funds' historical compounded returns. No specific adjustments were made to reflect expectations of future returns.
[3] See Note 4 for discussion of NextEra Energy's fair value measurement techniques.
[4] Includes foreign investments of  $293 million.
[5] Includes foreign investments of  $219 million.
[6] Includes foreign investments of  $499 million.
[7] Includes foreign investments of  $47 million.
[8] Includes foreign investments of  $45 million.
[9] Includes foreign investments of  $56 million and  $206 million of short-term commingled vehicles.
[10] Includes foreign investments of  $56 million and  $53 million of short-term commingled vehicles.
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Derivative Instruments (Details) (USD  $)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Summary of derivative instruments by risk exposure, maximum maturity [Abstract]
Maximum length of time hedged in commodity cash flow hedges December 2012
Maximum length of time hedged in interest rate cash flow hedges September 2028
Maximum length of time hedged in foreign currency cash flow hedges September 2030
Net fair values of mark-to-market derivative instrument assets (liabilities) [Abstract]
Current derivative assets  $ 506,000,000 [1]  $ 357,000,000 [1]
Noncurrent other assets 589,000,000 [2] 329,000,000 [2]
Current derivative liabilities (536,000,000) [3] (221,000,000) [3]
Noncurrent derivative liabilities (243,000,000) [4] (170,000,000) [4]
Total mark-to-market derivative instrument asset (liabilities) 316,000,000 295,000,000
Margin cash collateral received from counterparties - netted against current derivative assets 23,000,000 4,000,000
Margin cash collateral received from counterparties - netted against noncurrent derivative assets 43,000,000 1,000,000
Margin cash collateral provided to counterparties - netted against current derivative liabilities 23,000,000 75,000,000
Margin cash collateral provided to counterparties - netted against Noncurrent derivative liabilities 72,000,000
Margin cash collateral received from counterparties that was not offset against derivative assets 7,000,000 18,000,000
Margin cash collateral provided to counterparties that was not offset against derivative liabilities 58,000,000 95,000,000
Fair values of derivatives designated as hedging instruments [Abstract]
Fair values of derivative assets designated as hedging instruments 142,000,000 217,000,000
Fair values of derivative liabilities designated as hedging instruments 127,000,000 98,000,000
Fair values of derivatives not designated as hedging instruments [Abstract]
Fair values of derivative assets not designated as hedging instruments 4,130,000,000 2,662,000,000
Fair values of derivative liabilities not designated as hedging instruments 3,858,000,000 2,556,000,000
Gains (losses) related to cash flow hedges [Abstract]
Gains (losses) recognized in OCI (8,000,000) 228,000,000
Gains (losses) reclassified from AOCI to net income 73,000,000 129,000,000
Gains (losses) recognized in income 1,000,000 [5] 29,000,000 [5]
Gains (losses) related to derivatives not designated as hedging instruments [Abstract]
Gains (losses) related to derivatives not designated as hedging instruments 550,000,000 304,000,000
Gains (losses) on commodity contracts, recorded as regulatory assets and or liabilities on the balance sheet due to regulatory treatment (665,000,000) (688,000,000)
Gain (loss) on fair value hedge reflected in interest expense 11,000,000 (6,000,000)
Schedule of net notional volume of commodity derivative instruments [Abstract]
Number of interest rate swaps 23
Net notional amount of interest rate swaps 4,300,000,000
Number of foreign currency swaps 3
Net notional amount of foreign currency swaps 408,000,000
Derivative, credit risk related contingent features [Abstract]
Fair value of derivative instruments with credit-risk-related contingent features that were in a liability position 1,600,000,000
Total required posted collateral should Capital Holdings' and FPL's credit ratings fall to BBB/Baa2 400,000,000
Total required posted collateral should Capital Holdings' and FPL's credit ratings fall to below investment grade 2,100,000,000
Additional collateral requirements if non-ratings based contract provisions are triggered 600,000,000
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 115,000,000
Commodity contracts [Member]
Gains (losses) related to cash flow hedges [Abstract]
Gains (losses) recognized in OCI 20,000,000 197,000,000
Gains (losses) reclassified from AOCI to net income 118,000,000 [6] 164,000,000 [6]
Gains (losses) recognized in income 1,000,000 [5],[6] 29,000,000 [5],[6]
Commodity contracts [Member] | Gain (loss) included in operating revenues [Member]
Gains (losses) related to derivatives not designated as hedging instruments [Abstract]
Gains (losses) related to derivatives not designated as hedging instruments 531,000,000 [7] 279,000,000 [7]
Commodity contracts [Member] | Gain (loss) included in fuel, purchased power and interchange [Member]
Gains (losses) related to derivatives not designated as hedging instruments [Abstract]
Gains (losses) related to derivatives not designated as hedging instruments 1,000,000 28,000,000
Commodity contracts [Member] | Current derivative assets [Member]
Fair values of derivatives designated as hedging instruments [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
Fair values of derivatives not designated as hedging instruments [Abstract]
Fair values of derivative assets not designated as hedging instruments 754,000,000 611,000,000
Fair values of derivative liabilities not designated as hedging instruments 278,000,000 303,000,000
Commodity contracts [Member] | Current derivative liabilities [Member]
Fair values of derivatives designated as hedging instruments [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
Fair values of derivatives not designated as hedging instruments [Abstract]
Fair values of derivative assets not designated as hedging instruments 1,848,000,000 1,002,000,000
Fair values of derivative liabilities not designated as hedging instruments 2,339,000,000 1,288,000,000
Commodity contracts [Member] | Noncurrent other assets [Member]
Fair values of derivatives designated as hedging instruments [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
Fair values of derivatives not designated as hedging instruments [Abstract]
Fair values of derivative assets not designated as hedging instruments 687,000,000 921,000,000
Fair values of derivative liabilities not designated as hedging instruments 157,000,000 699,000,000
Commodity contracts [Member] | Noncurrent derivative liabilities [Member]
Fair values of derivatives designated as hedging instruments [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
Fair values of derivatives not designated as hedging instruments [Abstract]
Fair values of derivative assets not designated as hedging instruments 828,000,000 128,000,000
Fair values of derivative liabilities not designated as hedging instruments 1,084,000,000 260,000,000
Interest rate swaps [Member]
Gains (losses) related to cash flow hedges [Abstract]
Gains (losses) recognized in OCI (52,000,000) 28,000,000
Gains (losses) reclassified from AOCI to net income (65,000,000) [8] (39,000,000) [8]
Gains (losses) recognized in income 0 [5] 0 [5]
Interest rate swaps [Member] | Current derivative assets [Member]
Fair values of derivatives designated as hedging instruments [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
Interest rate swaps [Member] | Current derivative liabilities [Member]
Fair values of derivatives designated as hedging instruments [Abstract]
Fair values of derivative assets designated as hedging instruments 0 0
Fair values of derivative liabilities designated as hedging instruments 64,000,000 51,000,000
Interest rate swaps [Member] | Noncurrent other assets [Member]
Fair values of derivatives designated as hedging instruments [Abstract]
Fair values of derivative assets designated as hedging instruments 91,000,000 61,000,000
Fair values of derivative liabilities designated as hedging instruments 0 0
Interest rate swaps [Member] | Noncurrent derivative liabilities [Member]
Fair values of derivatives designated as hedging instruments [Abstract]
Fair values of derivative assets designated as hedging instruments 0 0
Fair values of derivative liabilities designated as hedging instruments 59,000,000 27,000,000
Foreign currency swap [Member]
Gains (losses) related to cash flow hedges [Abstract]
Gains (losses) recognized in OCI 24,000,000 3,000,000
Gains (losses) reclassified from AOCI to net income 20,000,000 [9] 4,000,000 [10]
Gains (losses) recognized in income 0 [5] 0 [5]
Foreign currency swap [Member] | Gain (loss) included in interest expense [Member]
Gains (losses) related to cash flow hedges [Abstract]
Gains (losses) reclassified from AOCI to net income (4,000,000) (1,000,000)
Foreign currency swap [Member] | Gain (loss) included in other-net [Member]
Gains (losses) related to derivatives not designated as hedging instruments [Abstract]
Gains (losses) related to derivatives not designated as hedging instruments 18,000,000 (3,000,000)
Foreign currency swap [Member] | Current derivative assets [Member]
Fair values of derivatives designated as hedging instruments [Abstract]
Fair values of derivative assets designated as hedging instruments 24,000,000 0
Fair values of derivative liabilities designated as hedging instruments 0 0
Fair values of derivatives not designated as hedging instruments [Abstract]
Fair values of derivative assets not designated as hedging instruments 13,000,000 0
Fair values of derivative liabilities not designated as hedging instruments 0 0
Foreign currency swap [Member] | Current derivative liabilities [Member]
Fair values of derivatives designated as hedging instruments [Abstract]
Fair values of derivative assets designated as hedging instruments 0 0
Fair values of derivative liabilities designated as hedging instruments 4,000,000 0
Foreign currency swap [Member] | Noncurrent other assets [Member]
Fair values of derivatives designated as hedging instruments [Abstract]
Fair values of derivative assets designated as hedging instruments 11,000,000 5,000,000
Fair values of derivative liabilities designated as hedging instruments 0 0
Foreign currency swap [Member] | Noncurrent derivative liabilities [Member]
Fair values of derivatives not designated as hedging instruments [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
Power [Member]
Schedule of net notional volume of commodity derivative instruments [Abstract]
Non monetary net notional volumes (62) [11]
Natural Gas [Member]
Schedule of net notional volume of commodity derivative instruments [Abstract]
Non monetary net notional volumes 1,009 [12]
[1] At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $23 million and  $4 million (none at FPL), respectively, in margin cash collateral received from counterparties.
[2] At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $43 million and  $1 million (none at FPL), respectively, in margin cash collateral received from counterparties.
[3] At December 31, 2010 and 2009, NextEra Energy's balances reflect the netting of approximately  $23 million and  $75 million (none at FPL), respectively, in margin cash collateral provided to counterparties.
[4] At December 31, 2010, NextEra Energy's balance reflects the netting of approximately  $72 million (none at FPL) in margin cash collateral provided to counterparties.
[5] Represents the ineffective portion of the hedging instrument.
[6] Included in operating revenues.
[7] In addition, for the year ended December 31, 2010 and 2009, FPL recorded approximately  $665 million and  $688 million of losses, respectively, related to commodity contracts as regulatory assets on its consolidated balance sheets.
[8] Included in interest expense.
[9] Loss of approximately  $4 million is included in interest expense and the balance is included in other - net.
[10] Loss of approximately  $1 million is included in interest expense and the balance is included in other - net.
[11] Megawatt-hours
[12] One million British thermal units
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Fair Value Measurements (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2010
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member]
Dec. 31, 2009
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member]
Dec. 31, 2010
Significant Other Observable Inputs (Level 2) [Member]
Dec. 31, 2009
Significant Other Observable Inputs (Level 2) [Member]
Dec. 31, 2010
Significant Unobservable Inputs (Level 3) [Member]
Dec. 31, 2009
Significant Unobservable Inputs (Level 3) [Member]
Dec. 31, 2010
Netting [Member]
Dec. 31, 2009
Netting [Member]
Dec. 31, 2010
Derivative Financial Instruments Net [Member]
Dec. 31, 2009
Derivative Financial Instruments Net [Member]
Assets [Abstract]
Cash equivalents: equity securities  $ 122  $ 79  $ 0  $ 0  $ 122  $ 79  $ 0  $ 0  $ 0 [1]  $ 0 [1]
Special use funds [Abstract]
Equity securities 1,986 1,705 741 657 1,245 [2] 1,048 [3] 0 0 0 [1] 0 [1]
U.S. Government and municipal bonds 622 574 495 275 127 299 0 0 0 [1] 0 [1]
Corporate debt securities 486 452 0 0 486 452 0 0 0 [1] 0 [1]
Mortgage-backed securities 447 618 0 0 447 618 0 0 0 [1] 0 [1]
Other debt securities 108 41 0 0 108 41 0 0 0 [1] 0 [1]
Other investments [Abstract]
Equity securities 4 7 3 3 1 4 0 0 0 [1] 0 [1]
U.S. Government and municipal bonds 12 38 8 0 4 38 0 0 0 [1] 0 [1]
Corporate debt securities 32 35 0 0 32 35 0 0 0 [1] 0 [1]
Mortgage-backed securities 58 31 0 0 58 31 0 0 0 [1] 0 [1]
Other 15 4 5 4 10 0 0 0 0 [1] 0 [1]
Derivatives [Abstract]
Commodity contracts 940 [4] 1,755 1,538 824 (3,177) [1]
Interest rate swaps 107 [4] 0 107 0 0 [1]
Foreign currency swaps 48 [4] 0 48 0 0 [1]
Derivative assets 686 [4] 988 1,089 801 (2,192) [1]
Derivatives [Abstract]
Commodity contracts 652 [4] 1,821 1,509 528 (3,206) [1]
Interest rate swaps 123 [4] 0 123 0 0 [1]
Foreign currency swaps 4 [4] 0 4 0 0 [1]
Derivative liabilities 391 [4] 1,110 1,106 437 (2,262) [1]
Fair value of investments in commingled funds whose underlying investments would be Level 1 if those investments were held directly by the registrant 1,084 918
Reconciliation of Changes in the Fair Value of Derivatives Measured Based on Significant Unobservable Inputs [Roll Forward]
Fair value of derivatives based on significant unobservable inputs beginning balance 364 404
Realized and unrealized gains (losses) included in earnings 407 [5] 555 [5]
Realized and unrealized gains (losses) included in regulatory assets and liabilities 1 7
Purchases, sales, settlements and net option premiums (432) (521)
Net transfers in/out (44) [6] (81) [6]
Fair value of derivatives based on significant unobservable inputs ending balance 296 364
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 170 [7] 270 [7]
Realized and unrealized gains (losses) reflected in operating revenues 384 555
Realized and unrealized gains (losses) reflected in fuel purchased power and interchange 23
Gross transfers into Level 3 were a result of decreased observability of market data 2
Gross transfers out of Level 3 to Level 2 were a result of increased observability of market data 46
Unrealized gains (losses) reflected in operating revenues 153 270
Unrealized gains (losses) reflected in fuel purchased power and interchange  $ 17
[1] Includes the effect of the contractual ability to settle contracts under master netting arrangements and margin cash collateral payments and receipts.
[2] At NextEra Energy, approximately  $1,084 million ( $980 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.
[3] 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.
[4] See Note 3 for a reconciliation of net derivatives to NextEra Energy's and FPL's consolidated balance sheets.
[5] For the year ended December 31, 2010 and 2009,  $384 million and  $555 million, respectively, of realized and unrealized gains are reflected in operating revenues in the consolidated statements of income. For the year ended December 31, 2010,  $23 million of realized and unrealized gains are reflected in fuel, purchased power and interchange in the consolidated statements of income.
[6] For the year ended December 31, 2010, gross transfers of  $2 million into Level 3 were a result of decreased observability of market data, and gross transfers of  $46 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.
[7] For the year ended December 31, 2010 and 2009,  $153 million and  $270 million, respectively, of unrealized gains are reflected in operating revenues in the consolidated statements of income. For the year ended December 31, 2010,  $17 million of unrealized gains are reflected in fuel, purchased power and interchange in the consolidated statements of income.
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Financial Instruments (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Mar. 31, 2009
Financial Instruments [Details] [Abstract]
Increase in retained earnings for previously recognized OTTI  $ 5
Other investments, primarily notes receivable 97 44
Other investments, primarily notes receivable, included in other current receivables 48 5
Other investments [Abstract]
Special use funds: equity method investments 76
Special use funds: loans 17
Available for sale debt securities amortized cost 1,616 1,638
Available for sale equity securities amortized cost 1,489 1,396
Held to maturity notes receivable maturity date - low 2014
Held to maturity notes receivable maturity date - high 2029
Special use funds: storm fund assets 125
Special use funds: nuclear decommissioning fund assets 3,617
Special use funds: nuclear decommissioning funds weighted average maturity (in years) 6Y
Special use funds: storm fund weighted average maturity (in years) 3Y
Realized gains and losses and proceeds from the sale of available for sale securities [Abstract]
Realized gains 106 108 50
Realized losses 30 30 54
Proceeds from sale of securities 6,726 4,592 2,235
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Special use funds 3,742 [1] 3,390 [1]
Other investments [Abstract]
Notes receivable 525 534
Debt securities 114 [2] 104 [2]
Equity securities 57 45
Long-term debt, including current maturities 19,929 16,869
Interest rate swaps - net unrealized gains (losses) (16) (17)
Foreign currency swaps - net unrealized gains (losses) 44 (1)
Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Special use funds 3,742 [3] 3,390 [3]
Other investments [Abstract]
Notes receivable 583 [4] 556 [4]
Debt securities 114 [3] 104 [3]
Equity securities 125 [5] 105 [5]
Long-term debt, including current maturities 20,756 [6] 17,256 [6]
Interest rate swaps - net unrealized gains (losses) (16) [7] (17) [7]
Foreign currency swaps - net unrealized gains (losses) 44 [7] (1) [7]
Available For Sale Securities: Special Use Funds - Equity securities [Member]
Total unrealized gains on available for sale securities [Abstract]
Unrealized gains 612 400
Available For Sale Securities: Special Use Funds - U.S. Government and municipal bonds [Member]
Total unrealized gains on available for sale securities [Abstract]
Unrealized gains 15 14
Available For Sale Securities: Special Use Funds - Corporate debt securities [Member]
Total unrealized gains on available for sale securities [Abstract]
Unrealized gains 23 21
Available For Sale Securities: Special Use Funds - Mortgage-backed securities [Member]
Total unrealized gains on available for sale securities [Abstract]
Unrealized gains 20 22
Available For Sale Securities: Special Use Funds - Other debt securities [Member]
Total unrealized gains on available for sale securities [Abstract]
Unrealized gains  $ 2  $ 1
[1] At December 31, 2010, includes  $76 million of investments accounted for under the equity method and  $17 million of loans not measured at fair value on a recurring basis ( $94 million and  $11 million, respectively, for FPL). For the remaining balance, see Note 4 for classification by major security type. The amortized cost of debt and equity securities is  $1,616 million and  $1,489 million, respectively, at December 31, 2010 and  $1,638 million and  $1,396 million, respectively, at December 31, 2009 ( $1,281 million and  $943 million, respectively, at December 31, 2010 and  $1,344 million and  $873 million, respectively, at December 31, 2009 for FPL).
[2] Classified as trading securities.
[3] Based on quoted market prices for these or similar issues.
[4] 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. Notes receivable are considered impaired and placed in non-accrual status when it becomes probable that all amounts due cannot be collected in accordance with the contractual terms of the agreement. The assessment to place notes receivable in non-accrual status considers various credit indicators, such as credit standings and ratings and market-related information. As of December 31, 2010, neither NextEra Energy nor FPL had any material notes receivable reported in non-accrual status.
[5] Modeled internally based on latest market data.
[6] Provided by external sources based on market prices indicative of market conditions.
[7] Modeled internally based on market values using discounted cash flow analysis and credit valuation adjustment.
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Income Taxes (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Federal:
Current  $ 11 [1]  $ (18) [1]  $ (132) [1]
Deferred 434 290 542
Total federal 445 272 410
State:
Current 11 [1] 77 [1] 29 [1]
Deferred 76 (22) 11
Total state 87 55 40
Total income taxes 532 [2] 327 [2] 450 [2]
Reconciliation between the effective income tax rates and the applicable statutory rates [Abstract]
Statutory federal income tax rate (in hundredths) 35.00% 35.00% 35.00%
Increases (reductions) resulting from:
State income taxes - net of federal income tax benefit (in hundredths) 2.40% 1.90% 1.30%
Allowance for other funds used during construction (in hundredths) (0.50%) (1.00%) (0.60%)
Amortization of ITCs - FPL (in hundredths) (0.10%) (0.40%) (0.70%)
PTCs and ITCs - NextEra Energy Resources (in hundredths) (12.20%) (13.10%) (12.70%)
Convertible ITCs - NextEra Energy Resources (in hundredths) (2.50%) (4.30%) 0.00%
Other - net (in hundredths) (0.70%) (1.20%) (0.70%)
Effective income tax rate (in hundredths) 21.40% 16.90% 21.60%
Deferred tax liabilities:
Property-related 7,795 6,968
Pension 485 457
Storm reserve deficiency 258 279
Nuclear decommissioning trusts 146 201
Net unrealized gains on derivatives 226 116
Deferred fuel costs 101 0
Other 638 371
Total deferred tax liabilities 9,649 8,392
Deferred tax assets and valuation allowance:
Decommissioning reserves 393 379
Postretirement benefits 175 183
Net operating loss carryforwards 663 [3] 270 [3]
Tax credit carryforwards 1,819 [4] 1,364 [4]
ARO and accrued asset removal costs 895 896
Other 790 683
Valuation allowance (246) [5] (129) [5]
Net deferred tax assets 4,489 3,646
Net accumulated deferred income taxes 5,160 4,746
Tax carryforwards related to NextEra Energy's unrecognized tax benefits 42 (26)
Tax carryforwards available to offset liability for unrecognized tax benefits, included in deferred tax assets tax credit carryforwards 52 58
Deferred tax assets and liabilities included in the consolidated balance sheets [Abstract]
Other current assets 17 128
Other assets 106 0
Other current liabilities (174) (14)
Accumulated deferred income taxes 5,109 4,860
Net accumulated deferred income taxes included in the consolidated balance sheets (5,160) (4,746)
Net operating loss carryforwards:
Net operating loss carryforwards 663 [3] 270 [3]
Tax credit carryforwards:
Tax credit carryforwards 1,819 [4] 1,364 [4]
Unrecognized tax benefits [Abstract]
Liabilities for unrecognized tax benefits, that, if disallowed, could impact the annual effective income tax rate 6
Accrued net interest receivable 135 135
Interest recorded (13) 9
Interest income recognized 16 13
Regulatory liabilities recognized (29) (4)
Reconciliation of unrecognized tax benefits [Abstract]
Balance at beginning of year 279 [6] 249 [6] 320
Additions based on tax positions related to the current year 4 24 14
Reductions based on tax positions related to the current year 0 0 (44)
Additions for tax positions of the prior years 67 26 91
Reductions for tax positions of the prior years (86) (20) (40)
Reductions relating to settlements with taxing authorities 0 0 (92)
Balance at end of year 264 [6] 279 [6] 249 [6]
Tax carryforwards, deposits and other receivables (259) (239) (219)
Balance at end of year, net 5 40 30
Federal tax benefit of state tax positions 15 16 14
Federal [Member]
Deferred tax assets and valuation allowance:
Tax credit carryforwards 1,539 [7]
Tax credit carryforwards:
Tax credit carryforwards 1,539 [7]
Expiration dates 2022 - 2030
Federal [Member]
Income Tax Examination [Line Items]
Years under examination 2006, 2007 and 2008
Federal [Member]
Deferred tax assets and valuation allowance:
Net operating loss carryforwards 484 [8]
Net operating loss carryforwards:
Net operating loss carryforwards 484 [8]
Expiration dates 2026 - 2030
State [Member]
Deferred tax assets and valuation allowance:
Tax credit carryforwards 280
Tax credit carryforwards:
Tax credit carryforwards 280
Expiration dates 2011 - 2035
State [Member]
Deferred tax assets and valuation allowance:
Net operating loss carryforwards 170
Net operating loss carryforwards:
Net operating loss carryforwards 170
Expiration dates 2014 - 2030
Foreign [Member]
Deferred tax assets and valuation allowance:
Net operating loss carryforwards 9
Net operating loss carryforwards:
Net operating loss carryforwards  $ 9
Expiration dates 2021 - 2030
[1] Includes provision for unrecognized tax benefits.
[2] NextEra Energy Resources' tax expense (benefit) includes PTCs that were recognized based on its tax sharing agreement with NextEra Energy. See Note 1 - Income Taxes.
[3] Reflects  $42 million and  $(26) million, respectively, of tax carryforwards related to NextEra Energy's unrecognized tax benefits.
[4] Amount is presented net of  $52 million and  $58 million, respectively, of tax carryforwards that are available to offset NextEra Energy's liability for unrecognized tax benefits.
[5] Amount relates to deferred state tax credits and state operating loss carryforwards.
[6] Amounts are net of the federal tax benefit of state tax positions of approximately  $15 million,  $16 million and  $14 million ( $11 million,  $12 million and  $11 million for FPL), respectively.
[7] Amount is presented net of  $52 million of tax carryforwards that are available to offset NextEra Energy's liability for unrecognized tax benefits.
[8] Amount includes  $42 million of tax carryforwards related to NextEra Energy's unrecognized tax benefits.
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Comprehensive Income (Details) (USD  $)
In Millions
3 Months Ended 12 Months Ended
Dec. 31, 2010
Sep. 30, 2010
Jun. 30, 2010
Mar. 31, 2010
Dec. 31, 2009
Sep. 30, 2009
Jun. 30, 2009
Mar. 31, 2009
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Accumulated other comprehensive income (loss) [Roll Forward]
Beginning Balances  $ 12,967  $ 11,681  $ 12,967  $ 11,681  $ 10,735
Comprehensive income [Abstract]
Net income of NextEra Energy 263 [1],[2] 720 [1],[2] 417 [1],[2] 556 [1],[2] 349 [1],[2] 533 [1],[2] 370 [1],[2] 364 [1],[2] 1,957 1,615 1,639
Net unrealized gains (losses) on cash flow hedges [Abstract]
Effective portion of net unrealized gains (losses) (5) 137 (4)
Reclassification from AOCI to net income (38) (75) [3] 90
Net unrealized gains (losses) on available for sale securities [Abstract]
Net unrealized gains (losses) on securities still held 60 119
Reclassification from AOCI to net income (21) (27)
Net unrealized losses on available for sale securities (46)
Defined benefit pension and other benefits plans 2 22 (167)
Net unrealized gains (losses) on foreign currency translation (1) 11
Ending Balances 14,461 12,967 14,461 12,967 11,681
Comprehensive income 1,954 1,802 1,512
Other comprehensive income, tax [Abstract]
Tax expense (benefit) of unrealized gains/losses on cash flow hedges (3) 90
Tax expense (benefit) on cash flow hedges reclassified from AOCI to net income (35) (50) [3] 66
Tax expense (benefit) of unrealized gains/losses on available for sale securities still held 41 77
Tax expense (benefit) on available for sale securities reclassified from AOCI to net income (16) (17)
Tax expense (benefit) on net unrealized losses on available for sale securities (30)
Tax expense (benefit) of defined benefit pension and other benefits plans 1 14 (104)
Tax expense (benefit) of foreign currency translation 5
Amounts reclassified into earnings due to discontinuance of cash flow hedges 3
Tax expense (benefit) of amounts reclassified into earnings due to discontinuance of cash flow hedges (2)
Total gain (loss) on cash flow hedges expected to be reclassified into earnings within the next 12 months (4)
Prior service benefits expected to be reclassified from AOCI into earnings within the next 12 months 1
Transition obligations expected to be reclassified from AOCI into earnings within the next 12 months 1
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Beginning Balances 169 [4] (13) [4] 116 [4]
Comprehensive income [Abstract]
Net income of NextEra Energy 0 [4] 0 [4] 0 [4]
Net unrealized gains (losses) on cash flow hedges [Abstract]
Effective portion of net unrealized gains (losses) (5) 137 (4)
Reclassification from AOCI to net income (38) (75) [3] 90
Net unrealized gains (losses) on available for sale securities [Abstract]
Net unrealized gains (losses) on securities still held 60 119
Reclassification from AOCI to net income (21) (27)
Net unrealized losses on available for sale securities (46)
Adjustments between OCI and retained earnings (5) [4] (2) [4]
Adjustments between OCI and retained earnings - FAS 159 adoption (1)
Defined benefit pension and other benefits plans 2 [4] 22 [4] (167) [4]
Defined benefit pension and other benefits plans - includes FAS 158 adoption (168)
Net unrealized gains (losses) on foreign currency translation (1) 11
Ending Balances 166 [4] 169 [4] 166 [4] 169 [4] (13) [4]
Net Unrealized Gains (Losses) On Cash Flow Hedges [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Beginning Balances 67 5 (81)
Net unrealized gains (losses) on cash flow hedges [Abstract]
Effective portion of net unrealized gains (losses) (5) 137 (4)
Reclassification from AOCI to net income (38) (75) [3] 90
Net unrealized gains (losses) on available for sale securities [Abstract]
Ending Balances 24 [5] 67 24 [5] 67 5
Other [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Beginning Balances 102 (18) 197
Net unrealized gains (losses) on available for sale securities [Abstract]
Net unrealized gains (losses) on securities still held 60 119
Reclassification from AOCI to net income (21) (27)
Net unrealized losses on available for sale securities (46)
Adjustments between OCI and retained earnings (5)
Adjustments between OCI and retained earnings - FAS 159 adoption (1)
Defined benefit pension and other benefits plans 2 22
Defined benefit pension and other benefits plans - includes FAS 158 adoption (168)
Net unrealized gains (losses) on foreign currency translation (1) 11
Ending Balances  $ 142 [6]  $ 102  $ 142 [6]  $ 102  $ (18)
[1] In the opinion of NextEra Energy and FPL, all adjustments, which consist of normal recurring accruals necessary to present a fair statement of the amounts shown for such periods, have been made. Results of operations for an interim period generally will not give a true indication of results for the year.
[2] The sum of the quarterly amounts may not equal the total for the year due to rounding.
[3] Includes amounts reclassified into earnings due to discontinuance of cash flow hedges of approximately  $3 million (net of  $2 million tax benefit) for which the hedged transactions are no longer probable of occurring.
[4] Comprehensive income, which includes net income and other comprehensive income (loss), totaled approximately  $1,954 million,  $1,802 million and  $1,512 million for 2010, 2009 and 2008, respectively.
[5] Approximately  $4 million of losses, related to derivative instruments, is 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.
[6] Approximately  $1 million of prior service benefits and approximately  $1 million of transition obligations is expected to be reclassified into earnings within the next twelve months.
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Jointly-Owned Electric Plants (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
FPL [Member] | Jointly Owned Nuclear Power Plant 1 [Member]
Proportionate ownership interest In jointly-owned facilities [Abstract]
Facility Name St. Lucie Unit No. 2
Ownership Interest (in hundredths) 85.00%
Gross Investment  $ 1,359 [1]
Accumulated Depreciation 585 [1]
Construction Work in Progress 199
FPL [Member] | Jointly Owned Electricity Generation Plant 1 [Member]
Proportionate ownership interest In jointly-owned facilities [Abstract]
Facility Name St. Johns River Power Park units and coal terminal
Ownership Interest (in hundredths) 20.00%
Gross Investment 391 [1]
Accumulated Depreciation 152 [1]
Construction Work in Progress 3
FPL [Member] | Jointly Owned Electricity Generation Plant 2 [Member]
Proportionate ownership interest In jointly-owned facilities [Abstract]
Facility Name Scherer Unit No. 4
Ownership Interest (in hundredths) 76.00%
Gross Investment 703 [1]
Accumulated Depreciation 218 [1]
Construction Work in Progress 251
NextEra Energy Resources [Member] | Jointly Owned Nuclear Power Plant 2 [Member]
Proportionate ownership interest In jointly-owned facilities [Abstract]
Facility Name Duane Arnold
Ownership Interest (in hundredths) 70.00%
Gross Investment 324 [1]
Accumulated Depreciation 62 [1]
Construction Work in Progress 27
NextEra Energy Resources [Member] | Jointly Owned Nuclear Power Plant 3 [Member]
Proportionate ownership interest In jointly-owned facilities [Abstract]
Facility Name Seabrook
Ownership Interest (in hundredths) 88.23%
Gross Investment 848 [1]
Accumulated Depreciation 141 [1]
Construction Work in Progress 71
NextEra Energy Resources [Member] | Jointly Owned Electricity Generation Plant 3 [Member]
Proportionate ownership interest In jointly-owned facilities [Abstract]
Facility Name Wyman Station Unit No. 4
Ownership Interest (in hundredths) 84.35%
Gross Investment 104 [1]
Accumulated Depreciation 39 [1]
Construction Work in Progress 0
Corporate and Other [Member] | Jointly Owned Electricity Transmission and Distribution System [Member]
Proportionate ownership interest In jointly-owned facilities [Abstract]
Facility Name Transmission substation assets located in Seabrook, New Hampshire
Ownership Interest (in hundredths) 88.23%
Gross Investment 59 [1]
Accumulated Depreciation 12 [1]
Construction Work in Progress  $ 5
[1] Excludes nuclear fuel.
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Variable Interest Entities (Details) (USD  $)
In Millions, unless otherwise specified
Dec. 31, 2010
Dec. 31, 2010
FPL [Member]
Bankruptcy remote special purpose subsidiary [Member]
Dec. 31, 2007
FPL [Member]
Bankruptcy remote special purpose subsidiary [Member]
Dec. 31, 2010
FPL [Member]
Qualifying facility 1 [Member]
Dec. 31, 2009
FPL [Member]
Qualifying facility 1 [Member]
Dec. 31, 2008
FPL [Member]
Qualifying facility 1 [Member]
Dec. 31, 2010
FPL [Member]
Qualifying facility 2 [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Gas and/or oil variable interest entities [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Wind variable interest entities [Member]
Dec. 31, 2010
Other variable interest entities [Member]
Variable Interest Entity [Line Items]
Total number of consolidated variable interest entities (in entities) 8 6 3 3 1
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 444 829 1,700 53
Carrying amount of liabilities, consolidated variable interest entity 542 455 1,600
Coal fired generating facility capacity (in megawatts) 250 330
Quantity of electricity purchased (in megawatt-hours) 1,502,234 1,604,735 1,725,798
Cost of electricity purchased 184 173 158
Ownership percentage (in hundredths) 100.00%
Natural gas and or oil electric generating facility capacity (in megawatts) 1,285
Expiration date of power sales contracts with third parties, low range 2018 2018
Expiration date of power sales contracts with third parties, high range 2022 2034
Wind electric generating facility capability (in megawatts) 1,077
Length of transmission line (in miles) 78
Capacity of transmission line (in kilovolts) 230
Investments in special purpose entities  $ 646
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Investments in Partnerships and Joint Ventures (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Dec. 31, 2004
Equity method investment, financial statement, reported amounts [Abstract]
NextEra Energy Resources' investment in partnerships and joint ventures  $ 217  $ 173
NextEra Energy Resources' ownership interest, low range (in hundredths) 5.50%
NextEra Energy Resources' ownership interest, high range (in hundredths) 50.00%
Equity method investment, summarized financial information [Abstract]
Net income 81 78
Total assets 660 717
Total liabilities 210 354
Partners'/members' equity 450 363
NextEra Energy Resources' share of underlying equity in the principal operating entities 223 180
Difference between investment carrying amount and underlying equity in net assets (26) [1] (15) [1]
NextEra Energy Resources' investment carrying amount for the principal operating entities 197 165
Revenues from services provided by certain subsidiaries of NextEra Energy Resources to investee partnerships and joint ventures 25 21 21
Net receivables related to services provided and other payments made by certain subsidiaries of NextEra Energy Resources on behalf of investees 36 29
Preferred trust securities [Abstract]
Proceeds from sale of preferred trust securities to the public 300
Interest rate of preferred trust securities (in hundredths) 5.88%
Proceeds from sale of common trust securities to NextEra Energy  $ 9
Ownership interest in trust (in hundredths) 100.00%
Interest rate of junior subordinated debentures (in hundredths) 5.88%
Maturity date of junior subordinated debentures March 2044
[1] The majority of the difference between the investment carrying amount and the underlying equity in net assets is being amortized over the remaining life of the investee's assets.
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Common and Preferred Stock (Details) (USD  $)
In Millions, except Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2010
Sep. 30, 2010
Jun. 30, 2010
Mar. 31, 2010
Dec. 31, 2009
Sep. 30, 2009
Jun. 30, 2009
Mar. 31, 2009
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Reconciliation of basic and diluted earnings per share of common stock [Abstract]
Numerator - net income  $ 263 [1],[2]  $ 720 [1],[2]  $ 417 [1],[2]  $ 556 [1],[2]  $ 349 [1],[2]  $ 533 [1],[2]  $ 370 [1],[2]  $ 364 [1],[2]  $ 1,957  $ 1,615  $ 1,639
Denominator [Abstract]
Weighted-average number of common shares outstanding - basic (in shares) 410,300,000 404,400,000 400,100,000
Options, performance share awards, restricted stock, equity units and warrants (in shares) 2,700,000 [3] 2,800,000 [3] 2,600,000 [3]
Weighted-average number of common shares outstanding - assuming dilution (in shares) 413,000,000 407,200,000 402,700,000
Earnings per share of common stock [Abstract]
Basic (in dollars per share)  $ 0.64 [1],[4]  $ 1.75 [1],[4]  $ 1.02 [1],[4]  $ 1.36 [1],[4]  $ 0.86 [1],[4]  $ 1.32 [1],[4]  $ 0.92 [1],[4]  $ 0.9 [1],[4]  $ 4.77  $ 3.99  $ 4.1
Assuming dilution (in dollars per share)  $ 0.63 [1],[4]  $ 1.74 [1],[4]  $ 1.01 [1],[4]  $ 1.36 [1],[4]  $ 0.85 [1],[4]  $ 1.31 [1],[4]  $ 0.91 [1],[4]  $ 0.9 [1],[4]  $ 4.74  $ 3.97  $ 4.07
Antidilutive securities (in shares) 9,100,000 800,000 500,000
Employee Stock Ownership Plan [Abstract]
ESOP-related compensation expense 37 42 40
ESOP-related unearned compensation at original issue price 69 69
ESOP-related unearned compensation at closing price as of end of period 248 248
Stock-based compensation [Abstract]
Stock based compensation costs 57 51 47
Tax benefits related to stock-based compensation arrangements 22 20 18
Unrecognized stock based compensation costs 63 63
Unrecognized stock based compensation costs weighted-average period of recognition (in years) 1.9
Common stock authorized for awards (in shares) 26,000,000 26,000,000
Common stock available for awards (in shares) 11,000,000 11,000,000
Continuous offering of NextEra Energy common stock [Abstract]
Continuous Offering of NextEra Energy Common Stock - maximum gross sales price 400
Continuous Offering of NextEra Energy Common Stock - gross proceeds 240 160
Restricted Stock Awards [Member]
Stock-based compensation [Abstract]
Vesting period (in years) 3Y
Activity [Roll Forward]
Nonvested balance at beginning of year (in shares) 1,143,282
Granted (in shares) 607,000
Vested (in shares) (523,365)
Forfeited (in shares) (72,327)
Nonvested balance at end of year (in shares) 1,154,590 1,143,282 1,154,590 1,143,282
Additional disclosures [Abstract]
Nonvested balance at beginning of year, weighted-average grant date fair value (in dollars per share)  $ 55.55
Granted, weighted-average grant date fair value (in dollars per share)  $ 46.72  $ 51.5  $ 62.66
Vested, weighted-average grant date fair value (in dollars per share)  $ 57.42
Forfeited, weighted-average grant date fair value (in dollars per share)  $ 50.21
Nonvested balance at end of year, weighted-average grant date fair value (in dollars per share)  $ 50.4  $ 55.55  $ 50.4  $ 55.55
Performance Share Awards [Member]
Stock-based compensation [Abstract]
Vesting period (in years) 3Y
Activity [Roll Forward]
Nonvested balance at beginning of year (in shares) 1,157,343
Granted (in shares) 717,590
Vested (in shares) (465,780)
Forfeited (in shares) (90,755)
Nonvested balance at end of year (in shares) 1,318,398 1,157,343 1,318,398 1,157,343
Additional disclosures [Abstract]
Nonvested balance at beginning of year, weighted-average grant date fair value (in dollars per share)  $ 51.2
Granted, weighted-average grant date fair value (in dollars per share)  $ 42.95  $ 42.66  $ 51.48
Vested, weighted-average grant date fair value (in dollars per share)  $ 53.97
Forfeited, weighted-average grant date fair value (in dollars per share)  $ 48.26
Nonvested balance at end of year, weighted-average grant date fair value (in dollars per share)  $ 45.96  $ 51.2  $ 45.96  $ 51.2
Restricted Stock and Performance Share Awards [Member]
Additional disclosures [Abstract]
Total fair value of awards vested 47 46 64
Options [Member]
Stock-based compensation [Abstract]
Vesting period (in years) 3Y
Maximum term (in years) 10Y
Assumptions used to estimate the fair value of options using the Black-Scholes option pricing model [Abstract]
Expected volatility (in hundredths) 17.33% [5]
Expected volatility, low range (in hundredths) 20.74% [5] 19.02% [5]
Expected volatility, high range (in hundredths) 21.64% [5] 20.23% [5]
Expected dividends (in hundredths) 2.75%
Expected dividends, low range (in hundredths) 3.61% 3.35%
Expected dividends, high range (in hundredths) 4.39% 3.71%
Expected term (years) 6 [6] 6 [6] 6 [7]
Risk-free rate (in hundredths) 3.24%
Risk-free rate, low range (in hundredths) 1.65% 2.68%
Risk-free rate, high range (in hundredths) 2.91% 2.97%
Option activity [Roll Forward]
Shares underlying options - Balance at beginning of year (in shares) 5,739,263
Shares underlying options - Granted (in shares) 687,001
Shares underlying options - Exercised (in shares) (1,384,015)
Shares underlying options - Forfeited (in shares) (3,197)
Shares underlying options - Expired (in shares) (2,400)
Shares underlying options - Balance at end of year (in shares) 5,036,652 5,739,263 5,036,652 5,739,263
Shares underlying options - Exercisable (in shares) 3,942,358 3,942,358
Additional disclosures pertaining to options [Abstract]
Balance at beginning of year, weighted average exercise price (in dollars per share)  $ 35.65
Granted, weighted average exercise price (in dollars per share)  $ 45.71  $ 45.71
Exercised, weighted average exercise price (in dollars per share)  $ 29.52  $ 29.52
Forfeited, weighted average exercise price (in dollars per share)  $ 64.69  $ 64.69
Expired, weighted average exercise price (in dollars per share)  $ 25.27  $ 25.27
Balance at end of year, weighted average exercise price (in dollars per share)  $ 38.69  $ 35.65  $ 38.69  $ 35.65
Exercisable at end of year, weighted average exercise price (in dollars per share)  $ 35.85  $ 35.85
Balance at end of year, weighted average remaining contractual term (years) 4.4
Exercisable at end of year, weighted average remaining contractual term (years) 3.2
Balance at end of year, aggregate intrinsic value 73 73
Exercisable at end of year, aggregate intrinsic value 68 68
Granted, weighted average grant date fair value (in dollars per share)  $ 6.22  $ 6.79  $ 9.9
Total intrinsic value of stock options exercised 32 9 17
Cash received from option exercises 41 10 14
Tax benefit realized from options exercised 12 3 6
NextEra Energy [Member]
Reconciliation of basic and diluted earnings per share of common stock [Abstract]
Numerator - net income  $ 1,957  $ 1,615  $ 1,639
NextEra Energy [Member] | Serial Preferred Stock [Member]
Preferred stock [Abstract]
Authorized (in shares) 100,000,000 100,000,000
Par value (in dollars per share)  $ 0.01  $ 0.01
Outstanding (in shares) 0 0
[1] In the opinion of NextEra Energy and FPL, all adjustments, which consist of normal recurring accruals necessary to present a fair statement of the amounts shown for such periods, have been made. Results of operations for an interim period generally will not give a true indication of results for the year.
[2] The sum of the quarterly amounts may not equal the total for the year due to rounding.
[3] 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. Options, performance share awards, restricted stock, equity units and warrants are included in diluted weighted-average number of common shares outstanding by applying the treasury stock method.
[4] The sum of the quarterly amounts may not equal the total for the year due to rounding and changes in weighted-average number of common shares outstanding.
[5] Based on historical experience.
[6] Based on historical exercise and post-vesting cancellation experience adjusted for outstanding awards.
[7] NextEra Energy used the "simplified" method to calculate the expected term.
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Debt (Details) (USD  $)
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2010
FPL [Member]
Dec. 31, 2009
FPL [Member]
Dec. 31, 2010
FPL [Member]
First mortgage bonds [Member]
Dec. 31, 2009
FPL [Member]
First mortgage bonds [Member]
Dec. 31, 2010
FPL [Member]
Storm-recovery bonds [Member]
Dec. 31, 2009
FPL [Member]
Storm-recovery bonds [Member]
Dec. 31, 2010
FPL [Member]
Pollution control, solid waste disposal and industrial development revenue bonds [Member]
Dec. 31, 2009
FPL [Member]
Pollution control, solid waste disposal and industrial development revenue bonds [Member]
Dec. 31, 2010
FPL [Member]
Other long-term debt [Member]
Dec. 31, 2009
FPL [Member]
Other long-term debt [Member]
Dec. 31, 2010
Capital Holdings [Member]
Dec. 31, 2009
Capital Holdings [Member]
Dec. 31, 2010
Capital Holdings [Member]
Debentures 1 [Member]
Dec. 31, 2009
Capital Holdings [Member]
Debentures 1 [Member]
Dec. 31, 2010
Capital Holdings [Member]
Debentures 2 [Member]
Dec. 31, 2009
Capital Holdings [Member]
Debentures 2 [Member]
Dec. 31, 2010
Capital Holdings [Member]
Debentures, related to NextEra Energy's equity units [Member]
Dec. 31, 2009
Capital Holdings [Member]
Debentures, related to NextEra Energy's equity units [Member]
Dec. 31, 2010
Capital Holdings [Member]
Junior Subordinated Debentures [Member]
Dec. 31, 2009
Capital Holdings [Member]
Junior Subordinated Debentures [Member]
Dec. 31, 2010
Capital Holdings [Member]
Senior secured bonds [Member]
Dec. 31, 2009
Capital Holdings [Member]
Senior secured bonds [Member]
Dec. 31, 2010
Capital Holdings [Member]
Japanese yen denominated senior notes [Member]
Dec. 31, 2010
Capital Holdings [Member]
Japanese yen denominated term loans [Member]
Dec. 31, 2009
Capital Holdings [Member]
Japanese yen denominated term loans [Member]
Dec. 31, 2010
Capital Holdings [Member]
Term loans [Member]
Dec. 31, 2009
Capital Holdings [Member]
Term loans [Member]
Dec. 31, 2010
Capital Holdings [Member]
Fair value swap [Member]
Dec. 31, 2009
Capital Holdings [Member]
Fair value swap [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Dec. 31, 2009
NextEra Energy Resources [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Senior secured limited recourse bonds and notes [Member]
Dec. 31, 2009
NextEra Energy Resources [Member]
Senior secured limited recourse bonds and notes [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Other long-term debt [Member]
Dec. 31, 2009
NextEra Energy Resources [Member]
Other long-term debt [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Canadian revolving credit facility [Member]
Dec. 31, 2010
NextEra Energy (Guarantor) [Member]
Dec. 31, 2009
NextEra Energy (Guarantor) [Member]
Dec. 31, 2010
Equity Units Contract 1 [Member]
Dec. 31, 2010
Equity Units Contract 2 [Member]
Dec. 31, 2010
Other Consolidated Entity And Consolidation Eliminations Member
Dec. 31, 2009
Other Consolidated Entity And Consolidation Eliminations Member
Debt Instrument [Line Items]
Maturity date, low range 2013 2013 2013 2013 2020 2020 2011 2011 2011 2011 2011 2011 2014 2044 2044 2011 2011 2013 2013 2012 2012
Maturity date, high range 2041 2041 2021 2021 2029 2029 2040 2040 2019 2019 2012 2012 2015 2069 2069 2014 2014 2037 2037 2028 2028
Maturity date 2014 2030 2030 2030 2011 2011 2013
Interest rate terms fixed fixed fixed fixed variable variable fixed fixed fixed fixed variable variable fixed fixed fixed fixed fixed fixed fixed variable variable variable variable fixed fixed variable variable variable
Interest rate, low range (in hundredths) 0.0485 0.0485 0.05044 0.05044 0.04 0.04 0.0255 0.0255 0.019 0.05875 0.05875 0.05608 0.05608
Interest rate, high range (in hundredths) 0.062 0.062 0.052555 0.052555 0.0525 0.0525 0.07875 0.07875 0.036 0.0875 0.0875 0.0759 0.0759
Interest rate (in hundredths) 3.60% 7.50% 7.50% 5.13%
Weighted-average interest rate (in hundredths) 0.30% 0.20% 1.00% 0.90% 2.20% 3.30% 1.20% 1.00% 2.60% 2.40% 1.30%
Long-term debt, gross  $ 5,540,000,000  $ 4,640,000,000  $ 531,000,000 [1]  $ 572,000,000 [1]  $ 633,000,000 [2]  $ 633,000,000 [2]  $ 57,000,000  $ 24,000,000  $ 2,500,000,000  $ 1,850,000,000  $ 450,000,000 [3],[4]  $ 450,000,000 [3],[4]  $ 753,000,000  $ 350,000,000  $ 2,353,000,000  $ 2,353,000,000  $ 500,000,000 [5]  $ 500,000,000 [5]  $ 123,000,000 [3]  $ 327,000,000 [3],[4]  $ 287,000,000 [3],[4]  $ 950,000,000 [4]  $ 910,000,000 [4]  $ 3,000,000  $ 14,000,000  $ 2,652,000,000  $ 2,488,000,000  $ 2,521,000,000 [3],[4]  $ 1,833,000,000 [3],[4]  $ 82,000,000 [4]
Unamortized discount (34,000,000) (33,000,000) (8,000,000) (3,000,000)
Unamortized premium 0 1,000,000
Total long-term debt 6,727,000,000 5,836,000,000 7,951,000,000 6,711,000,000 5,255,000,000 4,322,000,000 0 5,794,000,000 [6]
Less current maturities of long-term debt 1,920,000,000 569,000,000 45,000,000 42,000,000 1,485,000,000 200,000,000 390,000,000 327,000,000
Long-term debt, excluding current maturities 18,013,000,000 16,300,000,000 6,682,000,000 5,794,000,000 6,466,000,000 6,511,000,000 4,865,000,000 3,995,000,000 0 0 6,682,000,000 [6] 5,794,000,000 [6]
Minimum annual maturities of long-term debt [Abstract]
2011 1,920,000,000
2012 816,000,000
2013 1,816,000,000
2014 940,000,000
2015 1,814,000,000
Weighted-average interest rate of commercial paper borrowings (in hundredths) 0.39% 0.19%
Lines of credit [Abstract]
Available lines of credit 7,400,000,000 3,000,000,000 4,400,000,000
Maximum letters of credit provided by lines of credit 6,400,000,000
Letters of credit outstanding under credit facilities 8,000,000 771,000,000
WCEC reclaimed water agreement [Abstract]
Principal amount of Palm Beach County, Florida (PBC) Water and Sewer Revenue Bonds 68,000,000
Sale of equity units [Abstract]
Date of equity units sold 2010 2009
Amount of equity units sold 402,500,000 350,000,000
Stated amount of each equity unit (in dollars per share)  $ 50  $ 50
Undivided beneficial ownership interest per debenture (in hundredths) 5.00% 5.00%
Principal amount of each debenture  $ 1,000  $ 1,000
Date by which equity unit holder must complete stock purchase 2013-09-01 2012-06-01
Price per share of stock purchase contract - low range (in dollars per share)  $ 55.02  $ 55.67
Price per share of stock purchase contract - high range (in dollars per share)  $ 68.78  $ 66.8
Number of shares (subject to antidilution adjustments) if purchased on the final settlement date at less than or equal to low range threshold (in shares) 0.9088 0.9
Number of shares (subject to antidilution adjustments) if purchased on the final settlement date at equal to or greater than high range threshold (in shares) 0.727 0.7501
Trading period (in days) over which the market value is determined by reference to the average closing prices of the common stock 20D 20D
Last day of trading period over which market value Is determined by reference to average closing prices of common stock 2013-08-28 2012-05-29
Rate of total annual distributions on equity units (in hundredths) 7.00% 8.38%
Rate of payments on stock purchase contracts (in hundredths) 5.10% 4.78%
Date interest rate on debentures expected to be reset 2013-03-01 2011-12-01
[1] Principal on the storm-recovery bonds is due on the final maturity date (the date by which the principal must be repaid to prevent a default) for each tranche, however, it began being paid semiannually and sequentially on February 1, 2008, when the first semiannual interest payment became due.
[2] Tax exempt bonds that permit individual bond holders to tender the bonds for purchase at any time prior to maturity. In the event bonds are tendered for purchase, they would be remarketed by a designated remarketing agent in accordance with the related indenture. If the remarketing is unsuccessful, FPL would be required to purchase the tax exempt bonds. As of December 31, 2010, all tax exempt bonds tendered for purchase have been successfully remarketed. FPL's bank revolving lines of credit are available to support the purchase of tax exempt bonds.
[3] Interest rate swap agreements have been entered into for the majority of these debt issuances.
[4] Variable rate is based on an underlying index plus a margin.
[5] Issued by a wholly-owned subsidiary of Capital Holdings and collateralized by a third-party note receivable held by that subsidiary. See Note 5.
[6] Represents FPL and consolidating adjustments.
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Asset Retirement Obligations (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Asset retirement obligation, roll forward analysis [Roll Forward]
Beginning balance  $ 2,418  $ 2,283
Liabilities incurred 3 4
Accretion expense 137 132
Liabilities settled (1)
Revision in estimated cash flows - net (918) (1)
Ending balance 1,639 2,418
Restricted funds included in special use funds [Abstract]
Restricted funds 3,617 3,267
FPL [Member]
Asset retirement obligation, roll forward analysis [Roll Forward]
Beginning balance 1,833 1,743
Liabilities incurred 0 0
Accretion expense 101 96
Liabilities settled 0
Revision in estimated cash flows - net (851) [1] (6)
Ending balance 1,083 1,833
Restricted funds included in special use funds [Abstract]
Restricted funds 2,512 2,285
NextEra Energy Resources [Member]
Asset retirement obligation, roll forward analysis [Roll Forward]
Beginning balance 585 540
Liabilities incurred 3 4
Accretion expense 36 36
Liabilities settled (1)
Revision in estimated cash flows - net (67) [2] 5
Ending balance 556 585
Restricted funds included in special use funds [Abstract]
Restricted funds  $ 1,105  $ 982
[1] Primarily reflects the effect of a decrease in the escalation rates used to determine the ultimate projected costs of decommissioning FPL's nuclear units and lower costs due to the expected future reimbursement by the DOE of certain spent fuel storage costs as stipulated by a spent fuel settlement agreement.
[2] Primarily reflects the effect of revised probability assessments regarding when assets will be retired and ultimately decommissioned and lower costs due to the expected future reimbursement by the DOE of certain spent fuel storage costs as stipulated by a spent fuel settlement agreement.
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Commitments and Contingencies (Details) (USD  $)
12 Months Ended 24 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2010
Dec. 31, 1996
Oct. 31, 2004
Jan. 29, 1999
Dec. 31, 2010
FPL [Member]
Dec. 31, 2009
FPL [Member]
Dec. 31, 2008
FPL [Member]
Dec. 31, 2010
FPL [Member]
New generation expenditures [Member]
Dec. 31, 2010
FPL [Member]
Existing generation expenditures [Member]
Dec. 31, 2010
FPL [Member]
Transmission and distribution expenditures [Member]
Dec. 31, 2010
FPL [Member]
Nuclear fuel expenditures [Member]
Dec. 31, 2010
FPL [Member]
General and other expenditures [Member]
Dec. 31, 2010
FPL [Member]
JEA And Southern Subsidiaries Contract Range 1 [Member]
Dec. 31, 2010
FPL [Member]
JEA And Southern Subsidiaries Contract Range 2 [Member]
Dec. 31, 2010
FPL [Member]
Qualifying Facilities Contracts [Member]
Dec. 31, 2010
FPL [Member]
Other Electricity Suppliers Contract [Member]
Dec. 31, 2010
FPL [Member]
Natural Gas, Coal, and Oil, Including Transportation And Storage [Member]
Dec. 31, 2010
FPL [Member]
Qualifying Facilities Capacity Payments [Member]
Dec. 31, 2010
FPL [Member]
JEA And Southern Subsidiaries Capacity Payments [Member]
Dec. 31, 2010
FPL [Member]
Other Electricity Suppliers Capacity Payments [Member]
Dec. 31, 2010
FPL [Member]
Natural Gas Including Transportation And Storage Contract Minimum Payments [Member]
Dec. 31, 2010
FPL [Member]
Oil Contract Minimum Payments [Member]
Dec. 31, 2010
FPL [Member]
Coal Contract Minimum Payments [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Wind expenditures [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Nuclear expenditures [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Solar expenditures [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Natural gas expenditures [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Other expenditures [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Contract Group 1 [Member]
Dec. 31, 2010
NextEra Energy Resources [Member]
Contract Group 2 [Member]
Dec. 31, 2010
Corporate and Other [Member]
Dec. 31, 2010
Seabrook Station Insurance [Member]
Dec. 31, 2010
Duane Arnold Energy Center Insurance [Member]
Dec. 31, 2010
St Lucie Unit No 2 Insurance [Member]
Planned Capital Expenditures [Line Items]
2011  $ 3,275,000,000  $ 1,520,000,000 [1],[2],[3]  $ 655,000,000 [1]  $ 720,000,000  $ 260,000,000  $ 120,000,000  $ 2,270,000,000  $ 505,000,000 [4]  $ 585,000,000 [5]  $ 955,000,000 [6]  $ 140,000,000  $ 85,000,000 [7]  $ 400,000,000 [8]
2012 3,625,000,000 1,870,000,000 [1],[2],[3] 570,000,000 [1] 870,000,000 170,000,000 145,000,000 1,300,000,000 30,000,000 [4] 275,000,000 [5] 885,000,000 [6] 35,000,000 75,000,000 [7] 490,000,000 [8]
2013 2,280,000,000 500,000,000 [1],[2],[3] 610,000,000 [1] 820,000,000 255,000,000 95,000,000 795,000,000 10,000,000 [4] 250,000,000 [5] 420,000,000 [6] 65,000,000 50,000,000 [7] 70,000,000 [8]
2014 1,855,000,000 105,000,000 [1],[2],[3] 665,000,000 [1] 760,000,000 205,000,000 120,000,000 430,000,000 5,000,000 [4] 250,000,000 [5] 75,000,000 [6] 40,000,000 60,000,000 [7] 30,000,000 [8]
2015 1,655,000,000 0 [1],[2],[3] 490,000,000 [1] 840,000,000 220,000,000 105,000,000 435,000,000 0 [4] 265,000,000 [5] 0 [6] 120,000,000 50,000,000 [7] 30,000,000 [8]
Total 12,690,000,000 3,995,000,000 [1],[2],[3] 2,990,000,000 [1] 4,010,000,000 1,110,000,000 585,000,000 5,230,000,000 550,000,000 [4] 1,625,000,000 [5] 2,335,000,000 [6] 400,000,000 320,000,000 [7] 1,020,000,000 [8]
Allowance for funds used during construction (AFUDC) - 2011 49,000,000 9,000,000
Allowance for funds used during construction (AFUDC) - 2012 76,000,000 41,000,000
Allowance for funds used during construction (AFUDC) - 2013 79,000,000 18,000,000
Allowance for funds used during construction (AFUDC) - 2014 29,000,000
Allowance for funds used during construction (AFUDC) - 2015 3,000,000
Pre-construction costs and carrying charges (equal to a pretax AFUDC rate) - 2011 98,000,000
Pre-construction costs and carrying charges (equal to a pretax AFUDC rate) - 2012 75,000,000
Pre-construction costs and carrying charges (equal to a pretax AFUDC rate) - 2013 24,000,000
Planned new wind generation over 5 year period 2010 - 2014, low range (in megawatts) 3,500
Planned new wind generation over 5 year period 2010 - 2014, high range (in megawatts) 5,000
Planned new wind generation added in current year (in megawatts) 754
Planned new wind generation over next year, low range (in megawatts) 700
Planned new wind generation over next year, high range (in megawatts) 1,000
Planned new wind generation costs over 5 year period 2010 - 2014, low range 7,000,000,000
Planned new wind generation costs over 5 year period 2010 - 2014, high range 10,000,000,000
Planned new solar generation over 5 year period 2010 - 2014, low range (in megawatts) 400
Planned new solar generation over 5 year period 2010 - 2014, high range (in megawatts) 600
Planned new solar generation added in current year (in megawatts) 5
Planned new solar generation costs over 5 year period 2010 - 2014, low range 3,000,000,000
Planned new solar generation costs over 5 year period 2010 - 2014, high range 4,000,000,000
Planned gas infrastructure costs over 5 year period 2010 - 2014, low range 400,000,000
Planned gas infrastructure costs over 5 year period 2010 - 2014, high range 600,000,000
Terms of guarantees related to non-consolidated entities (in years) less than one year to seven years
Amount of guarantees related to non-consolidated entities 34,000,000
Long Term Purchase Commitment [Abstract]
Minimum annual purchase commitments (in megawatts) 1,330 375
Time period under contracts through 2015 through 2021
Minimum total purchase commitments (in megawatts) 650 155
Expiration dates of purchase commitments 2024 through 2032 2012 through 2036 April 2011 through 2031 March 2011 through 2033
Commitment amount included in capital expenditures 1,100,000,000
Required capacity and/or minimum payments [Abstract]
2011 270,000,000 [9] 210,000,000 [9] 10,000,000 [9] 2,185,000,000 [10] 150,000,000 [10] 90,000,000 [10] 1,250,000,000 [11]
2012 290,000,000 [9] 210,000,000 [9] 5,000,000 [9] 1,130,000,000 [10] 0 [10] 70,000,000 [10] 225,000,000 [11]
2013 270,000,000 [9] 205,000,000 [9] 0 [9] 575,000,000 [10] 0 [10] 60,000,000 [10] 180,000,000 [11]
2014 275,000,000 [9] 185,000,000 [9] 0 [9] 570,000,000 [10] 0 [10] 5,000,000 [10] 165,000,000 [11]
2015 280,000,000 [9] 160,000,000 [9] 0 [9] 550,000,000 [10] 0 [10] 0 [10] 165,000,000 [11]
Thereafter 2,605,000,000 [9] 195,000,000 [9] 0 [9] 7,470,000,000 [10] 0 [10] 0 [10] 830,000,000 [11]
Capacity payments 537,000,000 603,000,000 584,000,000
Energy payments 434,000,000 439,000,000 510,000,000
Insurance [Abstract]
Maximum obtainable amount of private 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 incident per year 140,000,000
Insurance [Line items]
Potential retrospective assessment recoverable from minority interest for nuclear liability secondary financial protection 14,000,000 35,000,000 18,000,000
Potential retrospective assessment recoverable from minority interest for property damage, decontamination and premature decommissioning risks 2,000,000 4,000,000 3,000,000
Amount of coverage per occurrence per site for property damage, decontamination and premature decommissioning risks 2,750,000,000
Potential amount of retrospective assessment per occurrence per site for property damage, decontamination and premature decommissioning risks 164,000,000
Legal Proceedings [Abstract]
FPL's interest owned in generation facility Scherer Unit No. 4 (in hundredths) 76.00%
Maximum amount of civil penalties per day - Clean Air Act from June 1, 1975 through January 30, 1997 25,000
Maximum amount of civil penalties per day - Clean Air Act from January 31, 1997 through March 15, 2004 27,500
Maximum amount of civil penalties per day - Clean Air Act from March 16, 2004 through January 12, 2009 32,500
Maximum amount of civil penalties per day - Clean Air Act from January 13, 2009 forward 37,500
Shares of Adelphia common stock purchased (in shares) 1,091,524
Shares of Adelphia preferred stock purchased (in shares) 20,000
Shares of Adelphia common stock if Adelphia preferred stock converted to Adelphia common stock (in shares) 2,358,490
Aggregate price paid for Adelphia common and preferred stock 35,900,000
Cash paid by Adelphia for repurchase of Adelphia acquired shares 149,213,130
Damages asserted for breach of contract  $ 34,000,000
[1] Includes AFUDC of approximately  $49 million,  $76 million,  $79 million,  $29 million and  $3 million in 2011 to 2015, 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  $98 million,  $75 million and  $24 million in 2011 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 754 mw added in 2010 and approximately 700 mw to 1,000 mw in 2011, 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 and related transmission. NextEra Energy Resources plans to add new solar generation of approximately 400 mw to 600 mw in 2010 through 2014, including 5 mw added in 2010, 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 and includes AFUDC of approximately  $9 million,  $41 million and  $18 million in 2011 to 2013, respectively.
[9] Capacity payments under these contracts, substantially all of which are recoverable through the capacity clause, totaled approximately  $537 million,  $603 million and  $584 million for the years ended December 31, 2010, 2009 and 2008, respectively. Energy payments under these contracts, which are recoverable through the fuel clause, totaled approximately  $434 million,  $439 million and  $510 million for the years ended December 31, 2010, 2009 and 2008, 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 (Details) (USD  $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2010
Sep. 30, 2010
Jun. 30, 2010
Mar. 31, 2010
Dec. 31, 2009
Sep. 30, 2009
Jun. 30, 2009
Mar. 31, 2009
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Segment Information [Details] [Abstract]
Deemed capital structure of NextEra Energy Resources (in hundredths) 70.00% 70.00%
Percentage of operating revenues derived from the sale of electricity (in hundredths) 95.00% 98.00% 96.00%
Maximum percentage of operating revenues from foreign sources (in hundredths) 1.00% 1.00% 1.00%
Maximum percentage of long-lived assets located in foreign countries (in hundredths) 1.00% 1.00% 1.00% 1.00%
Segment Reporting Information [Line Items]
Operating revenues  $ 3,413 [1],[2]  $ 4,691 [1],[2]  $ 3,591 [1],[2]  $ 3,622 [1],[2]  $ 3,655 [1],[2]  $ 4,473 [1],[2]  $ 3,811 [1],[2]  $ 3,705 [1],[2]  $ 15,317  $ 15,643  $ 16,410
Operating expenses 12,074 13,049 13,585
Interest expense 979 849 813
Interest income 91 78 72
Depreciation and amortization 1,807 1,765 1,442
Equity in earnings of equity method investees 58 52 93
Income tax expense (benefit) 532 [3] 327 [3] 450 [3]
Net income (loss) 263 [1],[2] 720 [1],[2] 417 [1],[2] 556 [1],[2] 349 [1],[2] 533 [1],[2] 370 [1],[2] 364 [1],[2] 1,957 1,615 1,639
Capital expenditures, independent power and other investments and nuclear fuel purchases 5,846 6,006 5,236
Property, plant and equipment 54,221 50,169 54,221 50,169
Accumulated depreciation and amortization 15,146 14,091 15,146 14,091 13,117
Total assets 52,994 48,458 52,994 48,458 44,821
Investments in equity method investees 227 183 227 183 198
FPL [Member]
Segment Reporting Information [Line Items]
Operating revenues 10,485 11,491 11,649
Operating expenses 8,636 9,910 10,120
Interest expense 361 318 334
Interest income 0 1 11
Depreciation and amortization 1,008 1,097 860
Equity in earnings of equity method investees 0 0 0
Income tax expense (benefit) 580 [3] 473 [3] 443 [3]
Net income (loss) 945 831 789
Capital expenditures, independent power and other investments and nuclear fuel purchases 2,706 2,717 2,367
Property, plant and equipment 32,423 30,982 32,423 30,982 28,972
Accumulated depreciation and amortization 10,871 10,578 10,871 10,578 10,189
Total assets 28,698 26,812 28,698 26,812 26,175
Investments in equity method investees 0 0 0 0 0
NextEra Energy Resources [Member]
Segment Reporting Information [Line Items]
Operating revenues 4,636 [4] 3,997 [4],[5] 4,570 [4],[5]
Operating expenses 3,286 [4] 3,024 [4],[5] 3,305 [4],[5]
Interest expense 515 [4] 460 [4],[5] 418 [4],[5]
Interest income 21 [5] 23 [4],[5] 27 [4],[5]
Depreciation and amortization 778 [4] 651 [4],[5] 565 [4],[5]
Equity in earnings of equity method investees 58 [4] 52 [4],[5] 93 [4],[5]
Income tax expense (benefit) (11) [4] (158) [4],[5] 27 [4],[5]
Net income (loss) 980 [4] 759 [4],[5] 831 [4],[5]
Capital expenditures, independent power and other investments and nuclear fuel purchases 3,072 [4] 3,235 [4],[5] 2,829 [4],[5]
Property, plant and equipment 21,304 [4] 18,844 [4],[5] 21,304 [4] 18,844 [4],[5] 16,268 [4],[5]
Accumulated depreciation and amortization 4,073 [4] 3,341 [4],[5] 4,073 [4] 3,341 [4],[5] 2,771 [4],[5]
Total assets 22,389 [4] 20,136 [4],[5] 22,389 [4] 20,136 [4],[5] 17,157 [4],[5]
Investments in equity method investees 217 [4] 173 [4],[5] 217 [4] 173 [4],[5] 189 [4],[5]
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating revenues 196 155 [5] 191 [5]
Operating expenses 152 115 [5] 160 [5]
Interest expense 103 71 [5] 61 [5]
Interest income 70 54 [5] 34 [5]
Depreciation and amortization 21 17 [5] 17 [5]
Equity in earnings of equity method investees 0 0 [5] 0 [5]
Income tax expense (benefit) (37) 12 [5] (20) [5]
Net income (loss) 32 25 [5] 19 [5]
Capital expenditures, independent power and other investments and nuclear fuel purchases 68 54 [5] 40 [5]
Property, plant and equipment 494 343 [5] 494 343 [5] 288 [5]
Accumulated depreciation and amortization 202 172 [5] 202 172 [5] 157 [5]
Total assets 1,907 1,510 [5] 1,907 1,510 [5] 1,489 [5]
Investments in equity method investees  $ 10  $ 10 [5]  $ 10  $ 10 [5]  $ 9 [5]
[1] In the opinion of NextEra Energy and FPL, all adjustments, which consist of normal recurring accruals necessary to present a fair statement of the amounts shown for such periods, have been made. Results of operations for an interim period generally will not give a true indication of results for the year.
[2] The sum of the quarterly amounts may not equal the total for the year due to rounding.
[3] NextEra Energy Resources' tax expense (benefit) includes PTCs that were recognized based on its tax sharing agreement with NextEra Energy. See Note 1 - Income Taxes.
[4] Interest expense allocated from Capital Holdings to NextEra Energy Resources 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.
[5] Segment information restated for the changes discussed above.
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Summarized Financial Information of Capital Holdings (Details) (USD  $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2010
Sep. 30, 2010
Jun. 30, 2010
Mar. 31, 2010
Dec. 31, 2009
Sep. 30, 2009
Jun. 30, 2009
Mar. 31, 2009
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Summarized Financial Information of Capital Holdings [Details] [Abstract]
Capital Holdings ownership percentage (in hundredths) 100.00% 100.00%
Consolidated Statements of Income [Abstract]
Operating revenues  $ 3,413 [1],[2]  $ 4,691 [1],[2]  $ 3,591 [1],[2]  $ 3,622 [1],[2]  $ 3,655 [1],[2]  $ 4,473 [1],[2]  $ 3,811 [1],[2]  $ 3,705 [1],[2]  $ 15,317  $ 15,643  $ 16,410
Operating expenses (12,074) (13,049) (13,585)
Interest expense (979) (849) (813)
Other income (deductions) - net 225 197 77
Income (loss) before income taxes 2,489 1,942 2,089
Income tax expense (benefit) 532 [3] 327 [3] 450 [3]
Net income (loss) 263 [1],[2] 720 [1],[2] 417 [1],[2] 556 [1],[2] 349 [1],[2] 533 [1],[2] 370 [1],[2] 364 [1],[2] 1,957 1,615 1,639
PROPERTY, PLANT AND EQUIPMENT [Abstract]
Electric utility plant in service and other property 54,221 50,169 54,221 50,169
Less accumulated depreciation and amortization (15,146) (14,091) (15,146) (14,091) (13,117)
Total property, plant and equipment - net 39,075 36,078 39,075 36,078
CURRENT ASSETS [Abstract]
Cash and cash equivalents 302 238 302 238 535
Receivables 2,582 2,247 2,582 2,247
Other 2,374 1,852 2,374 1,852
Total current assets 5,258 4,337 5,258 4,337
OTHER ASSETS [Abstract]
Investment in subsidiaries 0 0 0 0
Other 8,661 8,043 8,661 8,043
Total other assets 8,661 8,043 8,661 8,043
TOTAL ASSETS 52,994 48,458 52,994 48,458 44,821
CAPITALIZATION [Abstract]
Common shareholders' equity 14,461 12,967 14,461 12,967
Long-term debt 18,013 16,300 18,013 16,300
Total capitalization 32,474 29,267 32,474 29,267
CURRENT LIABILITIES [Abstract]
Debt due within one year 2,809 2,589 2,809 2,589
Accounts payable 1,124 992 1,124 992
Other 2,971 2,868 2,971 2,868
Total current liabilities 6,904 6,449 6,904 6,449
OTHER LIABILITIES AND DEFERRED CREDITS [Abstract]
Asset retirement obligations 1,639 2,418 1,639 2,418 2,283
Accumulated deferred income taxes 5,109 4,860 5,109 4,860
Regulatory liabilities 4,259 3,182 4,259 3,182
Other 2,609 2,282 2,609 2,282
Total other liabilities and deferred credits 13,616 12,742 13,616 12,742
COMMITMENTS AND CONTINGENCIES    
TOTAL CAPITALIZATION AND LIABILITIES 52,994 48,458 52,994 48,458
Condensed Consolidating Statements of Cash Flows [Abstract]
NET CASH PROVIDED BY OPERATING ACTIVITIES 3,834 4,463 3,403
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract]
Capital expenditures, independent power and other investments and nuclear fuel purchases (5,846) (6,006) (5,236)
Capital contribution to FPL 0 0 0
Cash grants under the Recovery Act 588 100 0
Funding of loan 0 0 (500)
Other - net (26) (29) (72)
Net Cash Provided By Used In Investing Activities (5,284) (5,935) (5,808)
CASH FLOWS FROM FINANCING ACTIVITES [Abstract]
Issuances of long-term debt 3,724 3,220 3,827
Retirements of long-term debt (769) (1,635) (1,358)
Proceeds from sale of differential membership interests 261 0 0
Net change in short-term debt (1,130) 154 848
Issuances of common stock - net 308 198 41
Dividends on common stock (823) (766) (714)
Other - net (57) 4 6
Net cash provided by (used in) financing activities 1,514 1,175 2,650
Net increase (decrease) in cash and cash equivalents 64 (297) 245
Cash and cash equivalents at beginning of year 238 535 238 535 290
Cash and cash equivalents at end of year 302 238 302 238 535
NextEra Energy (Guarantor) [Member]
Consolidated Statements of Income [Abstract]
Operating revenues 0 0 0
Operating expenses (4) 0 0
Interest expense (15) (17) (18)
Other income (deductions) - net 1,947 1,632 1,663
Income (loss) before income taxes 1,928 1,615 1,645
Income tax expense (benefit) (29) 0 6
Net income (loss) 1,957 1,615 1,639
PROPERTY, PLANT AND EQUIPMENT [Abstract]
Electric utility plant in service and other property 19 2 19 2
Less accumulated depreciation and amortization 0 0 0 0
Total property, plant and equipment - net 19 2 19 2
CURRENT ASSETS [Abstract]
Cash and cash equivalents 0 0 0 0 0
Receivables 654 453 654 453
Other 9 4 9 4
Total current assets 663 457 663 457
OTHER ASSETS [Abstract]
Investment in subsidiaries 14,150 12,785 14,150 12,785
Other 365 557 365 557
Total other assets 14,515 13,342 14,515 13,342
TOTAL ASSETS 15,197 13,801 15,197 13,801
CAPITALIZATION [Abstract]
Common shareholders' equity 14,461 12,967 14,461 12,967
Long-term debt 0 0 0 0
Total capitalization 14,461 12,967 14,461 12,967
CURRENT LIABILITIES [Abstract]
Debt due within one year 0 0 0 0
Accounts payable 0 0 0 0
Other 352 417 352 417
Total current liabilities 352 417 352 417
OTHER LIABILITIES AND DEFERRED CREDITS [Abstract]
Asset retirement obligations 0 0 0 0
Accumulated deferred income taxes 53 94 53 94
Regulatory liabilities 46 16 46 16
Other 285 307 285 307
Total other liabilities and deferred credits 384 417 384 417
COMMITMENTS AND CONTINGENCIES    
TOTAL CAPITALIZATION AND LIABILITIES 15,197 13,801 15,197 13,801
Condensed Consolidating Statements of Cash Flows [Abstract]
NET CASH PROVIDED BY OPERATING ACTIVITIES 1,178 591 766
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract]
Capital expenditures, independent power and other investments and nuclear fuel purchases 0 0 (12)
Capital contribution to FPL (660) 0 (75)
Cash grants under the Recovery Act 0 0 0
Funding of loan 0 0 0
Other - net 0 (7) 0
Net Cash Provided By Used In Investing Activities (660) (7) (87)
CASH FLOWS FROM FINANCING ACTIVITES [Abstract]
Issuances of long-term debt 0 0 0
Retirements of long-term debt 0 0 0
Proceeds from sale of differential membership interests 0 0 0
Net change in short-term debt 0 0 0
Issuances of common stock - net 308 198 41
Dividends on common stock (823) (766) (714)
Other - net (3) (16) (6)
Net cash provided by (used in) financing activities (518) (584) (679)
Net increase (decrease) in cash and cash equivalents 0 0 0
Cash and cash equivalents at beginning of year 0 0 0
Cash and cash equivalents at end of year 0 0 0 0 0
Capital Holdings Consolidated [Member]
Consolidated Statements of Income [Abstract]
Operating revenues 4,843 4,164 4,770
Operating expenses (3,446) (3,151) (3,474)
Interest expense (618) (531) (479)
Other income (deductions) - net 188 160 44
Income (loss) before income taxes 967 642 861
Income tax expense (benefit) (19) (145) 2
Net income (loss) 986 787 859
PROPERTY, PLANT AND EQUIPMENT [Abstract]
Electric utility plant in service and other property 21,779 19,185 21,779 19,185
Less accumulated depreciation and amortization (4,275) (3,513) (4,275) (3,513)
Total property, plant and equipment - net 17,504 15,672 17,504 15,672
CURRENT ASSETS [Abstract]
Cash and cash equivalents 282 156 282 156 414
Receivables 1,380 1,247 1,380 1,247
Other 1,024 1,258 1,024 1,258
Total current assets 2,686 2,661 2,686 2,661
OTHER ASSETS [Abstract]
Investment in subsidiaries 0 0 0 0
Other 3,845 3,257 3,845 3,257
Total other assets 3,845 3,257 3,845 3,257
TOTAL ASSETS 24,035 21,590 24,035 21,590
CAPITALIZATION [Abstract]
Common shareholders' equity 4,359 4,349 4,359 4,349
Long-term debt 11,331 10,506 11,331 10,506
Total capitalization 15,690 14,855 15,690 14,855
CURRENT LIABILITIES [Abstract]
Debt due within one year 2,664 1,729 2,664 1,729
Accounts payable 571 453 571 453
Other 1,361 1,170 1,361 1,170
Total current liabilities 4,596 3,352 4,596 3,352
OTHER LIABILITIES AND DEFERRED CREDITS [Abstract]
Asset retirement obligations 556 585 556 585
Accumulated deferred income taxes 1,336 1,318 1,336 1,318
Regulatory liabilities 0 0 0 0
Other 1,857 1,480 1,857 1,480
Total other liabilities and deferred credits 3,749 3,383 3,749 3,383
COMMITMENTS AND CONTINGENCIES    
TOTAL CAPITALIZATION AND LIABILITIES 24,035 21,590 24,035 21,590
Condensed Consolidating Statements of Cash Flows [Abstract]
NET CASH PROVIDED BY OPERATING ACTIVITIES 1,940 1,513 1,182
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract]
Capital expenditures, independent power and other investments and nuclear fuel purchases (3,140) (3,289) (2,857)
Capital contribution to FPL 0 0 0
Cash grants under the Recovery Act 428 100 0
Funding of loan 0 0 (500)
Other - net 5 1 0
Net Cash Provided By Used In Investing Activities (2,707) (3,188) (3,357)
CASH FLOWS FROM FINANCING ACTIVITES [Abstract]
Issuances of long-term debt 2,800 2,704 3,238
Retirements of long-term debt (727) (1,371) (1,118)
Proceeds from sale of differential membership interests 261 0 0
Net change in short-term debt (414) 110 917
Issuances of common stock - net 0 0 0
Dividends on common stock 0 0 0
Other - net (1,027) (26) (675)
Net cash provided by (used in) financing activities 893 1,417 2,362
Net increase (decrease) in cash and cash equivalents 126 (258) 187
Cash and cash equivalents at beginning of year 156 414 227
Cash and cash equivalents at end of year 282 156 282 156 414
Other [Member]
Consolidated Statements of Income [Abstract]
Operating revenues 10,474 [4] 11,479 [4] 11,640 [4]
Operating expenses (8,624) [4] (9,898) [4] (10,111) [4]
Interest expense (346) [4] (301) [4] (316) [4]
Other income (deductions) - net (1,910) [4] (1,595) [4] (1,630) [4]
Income (loss) before income taxes (406) [4] (315) [4] (417) [4]
Income tax expense (benefit) 580 [4] 472 [4] 442 [4]
Net income (loss) (986) [4] (787) [4] (859) [4]
PROPERTY, PLANT AND EQUIPMENT [Abstract]
Electric utility plant in service and other property 32,423 [4] 30,982 [4] 32,423 [4] 30,982 [4]
Less accumulated depreciation and amortization (10,871) [4] (10,578) [4] (10,871) [4] (10,578) [4]
Total property, plant and equipment - net 21,552 [4] 20,404 [4] 21,552 [4] 20,404 [4]
CURRENT ASSETS [Abstract]
Cash and cash equivalents 20 [4] 82 [4] 20 [4] 82 [4] 121 [4]
Receivables 548 [4] 547 [4] 548 [4] 547 [4]
Other 1,341 [4] 590 [4] 1,341 [4] 590 [4]
Total current assets 1,909 [4] 1,219 [4] 1,909 [4] 1,219 [4]
OTHER ASSETS [Abstract]
Investment in subsidiaries (14,150) [4] (12,785) [4] (14,150) [4] (12,785) [4]
Other 4,451 [4] 4,229 [4] 4,451 [4] 4,229 [4]
Total other assets (9,699) [4] (8,556) [4] (9,699) [4] (8,556) [4]
TOTAL ASSETS 13,762 [4] 13,067 [4] 13,762 [4] 13,067 [4]
CAPITALIZATION [Abstract]
Common shareholders' equity (4,359) [4] (4,349) [4] (4,359) [4] (4,349) [4]
Long-term debt 6,682 [4] 5,794 [4] 6,682 [4] 5,794 [4]
Total capitalization 2,323 [4] 1,445 [4] 2,323 [4] 1,445 [4]
CURRENT LIABILITIES [Abstract]
Debt due within one year 145 [4] 860 [4] 145 [4] 860 [4]
Accounts payable 553 [4] 539 [4] 553 [4] 539 [4]
Other 1,258 [4] 1,281 [4] 1,258 [4] 1,281 [4]
Total current liabilities 1,956 [4] 2,680 [4] 1,956 [4] 2,680 [4]
OTHER LIABILITIES AND DEFERRED CREDITS [Abstract]
Asset retirement obligations 1,083 [4] 1,833 [4] 1,083 [4] 1,833 [4]
Accumulated deferred income taxes 3,720 [4] 3,448 [4] 3,720 [4] 3,448 [4]
Regulatory liabilities 4,213 [4] 3,166 [4] 4,213 [4] 3,166 [4]
Other 467 [4] 495 [4] 467 [4] 495 [4]
Total other liabilities and deferred credits 9,483 [4] 8,942 [4] 9,483 [4] 8,942 [4]
COMMITMENTS AND CONTINGENCIES    
TOTAL CAPITALIZATION AND LIABILITIES 13,762 [4] 13,067 [4] 13,762 [4] 13,067 [4]
Condensed Consolidating Statements of Cash Flows [Abstract]
NET CASH PROVIDED BY OPERATING ACTIVITIES 716 [4] 2,359 [4] 1,455 [4]
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract]
Capital expenditures, independent power and other investments and nuclear fuel purchases (2,706) [4] (2,717) [4] (2,367) [4]
Capital contribution to FPL 660 [4] 0 [4] 75 [4]
Cash grants under the Recovery Act 160 [4] 0 [4] 0 [4]
Funding of loan 0 [4] 0 [4] 0 [4]
Other - net (31) [4] (23) [4] (72) [4]
Net Cash Provided By Used In Investing Activities (1,917) [4] (2,740) [4] (2,364) [4]
CASH FLOWS FROM FINANCING ACTIVITES [Abstract]
Issuances of long-term debt 924 [4] 516 [4] 589 [4]
Retirements of long-term debt (42) [4] (264) [4] (240) [4]
Proceeds from sale of differential membership interests 0 [4] 0 [4] 0 [4]
Net change in short-term debt (716) [4] 44 [4] (69) [4]
Issuances of common stock - net 0 [4] 0 [4] 0 [4]
Dividends on common stock 0 [4] 0 [4] 0 [4]
Other - net 973 [4] 46 [4] 687 [4]
Net cash provided by (used in) financing activities 1,139 [4] 342 [4] 967 [4]
Net increase (decrease) in cash and cash equivalents (62) [4] (39) [4] 58 [4]
Cash and cash equivalents at beginning of year 82 [4] 121 [4] 63 [4]
Cash and cash equivalents at end of year  $ 20 [4]  $ 82 [4]  $ 20 [4]  $ 82 [4]  $ 121 [4]
[1] In the opinion of NextEra Energy and FPL, all adjustments, which consist of normal recurring accruals necessary to present a fair statement of the amounts shown for such periods, have been made. Results of operations for an interim period generally will not give a true indication of results for the year.
[2] The sum of the quarterly amounts may not equal the total for the year due to rounding.
[3] NextEra Energy Resources' tax expense (benefit) includes PTCs that were recognized based on its tax sharing agreement with NextEra Energy. See Note 1 - Income Taxes.
[4] Represents FPL and consolidating adjustments.
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Quarterly Data (Unaudited) (Details) (USD  $)
In Millions, except Per Share data
3 Months Ended 12 Months Ended
Dec. 31, 2010
Sep. 30, 2010
Jun. 30, 2010
Mar. 31, 2010
Dec. 31, 2009
Sep. 30, 2009
Jun. 30, 2009
Mar. 31, 2009
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Condensed consolidated quarterly financial information [Abstract]
Operating revenues  $ 3,413 [1],[2]  $ 4,691 [1],[2]  $ 3,591 [1],[2]  $ 3,622 [1],[2]  $ 3,655 [1],[2]  $ 4,473 [1],[2]  $ 3,811 [1],[2]  $ 3,705 [1],[2]  $ 15,317  $ 15,643  $ 16,410
Operating income 469 [1],[2] 1,125 [1],[2] 709 [1],[2] 939 [1],[2] 557 [1],[2] 849 [1],[2] 605 [1],[2] 583 [1],[2] 3,243 2,594 2,825
Net income of NextEra Energy  $ 263 [1],[2]  $ 720 [1],[2]  $ 417 [1],[2]  $ 556 [1],[2]  $ 349 [1],[2]  $ 533 [1],[2]  $ 370 [1],[2]  $ 364 [1],[2]  $ 1,957  $ 1,615  $ 1,639
Earnings per share (in dollars per share)  $ 0.64 [1],[3]  $ 1.75 [1],[3]  $ 1.02 [1],[3]  $ 1.36 [1],[3]  $ 0.86 [1],[3]  $ 1.32 [1],[3]  $ 0.92 [1],[3]  $ 0.9 [1],[3]  $ 4.77  $ 3.99  $ 4.1
Earnings per share - assuming dilution (in dollars per share)  $ 0.63 [1],[3]  $ 1.74 [1],[3]  $ 1.01 [1],[3]  $ 1.36 [1],[3]  $ 0.85 [1],[3]  $ 1.31 [1],[3]  $ 0.91 [1],[3]  $ 0.9 [1],[3]  $ 4.74  $ 3.97  $ 4.07
Dividends per share (in dollars per share)  $ 0.5  $ 0.5  $ 0.5  $ 0.5  $ 0.4725  $ 0.4725  $ 0.4725  $ 0.4725  $ 2  $ 1.89  $ 1.78
High common stock sales price (in dollars per share)  $ 56.26  $ 55.98  $ 53.5  $ 53.75  $ 56.57  $ 60.61  $ 59  $ 53.99
Low common stock sales price (in dollars per share)  $ 50  $ 48.44  $ 47.96  $ 45.29  $ 48.55  $ 53.13  $ 49.7  $ 41.48
[1] In the opinion of NextEra Energy and FPL, all adjustments, which consist of normal recurring accruals necessary to present a fair statement of the amounts shown for such periods, have been made. Results of operations for an interim period generally will not give a true indication of results for the year.
[2] The sum of the quarterly amounts may not equal the total for the year due to rounding.
[3] The sum of the quarterly amounts may not equal the total for the year due to rounding and changes in weighted-average number of common shares outstanding.
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