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Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
OPERATING REVENUES        
Renewable energy sales $ 187 $ 201 $ 546 $ 494
Texas pipelines service revenues 53 52 159 155
Total operating revenues(a) [1] 240 253 705 649
OPERATING EXPENSES        
Operations and maintenance(b) [2] 93 90 273 247
Depreciation and amortization 68 68 200 192
Taxes other than income taxes and other 11 7 25 20
Total operating expenses - net 172 165 498 459
OPERATING INCOME 68 88 207 190
OTHER INCOME (DEDUCTIONS)        
Interest expense 93 (372) (730) (735)
Equity in earnings of equity method investees 44 21 91 29
Equity in earnings (losses) of non-economic ownership interests 11 1 (7) (10)
Other - net 4 1 4 3
Total other income (deductions) - net 152 (349) (642) (713)
INCOME (LOSS) BEFORE INCOME TAXES 220 (261) (435) (523)
INCOME TAX EXPENSE (BENEFIT) 25 (18) (37) (35)
NET INCOME (LOSS) 195 (243) (398) (488)
Net income attributable to preferred distributions (1) (2) (5) (14)
Net loss (income) attributable to noncontrolling interests (138) 173 284 380
NET INCOME (LOSS) ATTRIBUTABLE TO NEXTERA ENERGY PARTNERS, LP $ 56 $ (72) $ (119) $ (122)
Earnings (loss) per common unit attributable to NextEra Energy Partners, LP - basic (in dollars per share) $ 0.83 $ (1.21) $ (1.80) $ (2.12)
Earnings (loss) per common unit attributable to NextEra Energy Partners, LP - assuming dilution (in dollars per share) $ 0.76 $ (1.21) $ (1.80) $ (2.12)
[1] Includes related party revenues of $2 million and $2 million for the three months ended September 30, 2020 and 2019, respectively, and $13 million and $5 million for the nine months ended September 30, 2020 and 2019, respectively.
[2] Includes O&M expenses related to renewable energy projects of $51 million and $50 million for the three months ended September 30, 2020 and 2019, respectively, and $150 million and $135 million for the nine months ended September 30, 2020 and 2019, respectively. Includes O&M expenses related to the Texas pipelines of $10 million and $12 million for the three months ended September 30, 2020 and 2019, respectively, and $32 million and $33 million for the nine months ended September 30, 2020 and 2019, respectively. Total O&M expenses presented include related party amounts of $40 million and $28 million for the three months ended September 30, 2020 and 2019, respectively, and $107 million and $76 million for the nine months ended September 30, 2020 and 2019, respectively.