UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period endedSeptember 30, 2014

Commission File Number	Exact name of registrants as specified in their charters, address of principal executive offices and registrants' telephone number	IRS Employer Identification Number
1-8841	NEXTERA ENERGY, INC.	59-2449419
2-27612	FLORIDA POWER & LIGHT COMPANY	59-0247775
	700 Universe Boulevard Juno Beach, Florida 33408 (561) 694-4000

State or other jurisdiction of incorporation or organization:  Florida

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) have been subject to such filing requirements for the past 90 days.

NextEra Energy, Inc.    Yes þ    No ¨                                                                     Florida Power & Light Company    Yes þ    No ¨

Indicate by check mark whether the registrants have submitted electronically and posted on their corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.

NextEra Energy, Inc.    Yes þ    No ¨                                                                     Florida Power & Light Company    Yes þ    No ¨

Indicate by check mark whether the registrants are a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Securities Exchange Act of 1934.

NextEra Energy, Inc.	Large Accelerated Filer þ	Accelerated Filer ¨	Non-Accelerated Filer ¨	Smaller Reporting Company ¨
Florida Power & Light Company	Large Accelerated Filer ¨	Accelerated Filer ¨	Non-Accelerated Filer þ	Smaller Reporting Company ¨

Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).   Yes ¨   No þ

Number of shares of NextEra Energy, Inc. common stock, $0.01 par value, outstanding as of September 30, 2014: 436,482,306

Number of shares of Florida Power & Light Company common stock, without par value, outstanding as of September 30, 2014, all of which were held, beneficially and of record, by NextEra Energy, Inc.: 1,000

This combined Form 10-Q represents separate filings by NextEra Energy, Inc. and Florida Power & Light Company.  Information contained herein relating to an individual registrant is filed by that registrant on its own behalf.  Florida Power & Light Company makes no representations as to the information relating to NextEra Energy, Inc.'s other operations.

Florida Power & Light Company meets the conditions set forth in General Instruction H.(1)(a) and (b) of Form 10-Q and is therefore filing this Form with the reduced disclosure format.

TABLE OF CONTENTS

		Page No.
Forward-Looking Statements		3
	PART I - FINANCIAL INFORMATION
Item 1.	Financial Statements	6
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	41
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	58
Item 4.	Controls and Procedures	58
	PART II - OTHER INFORMATION
Item 1.	Legal Proceedings	58
Item 1A.	Risk Factors	58
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	58
Item 5.	Other Information	59
Item 6.	Exhibits	60
Signatures		61

NextEra Energy, Inc., Florida Power & Light Company, NextEra Energy Capital Holdings, Inc. and NextEra Energy Resources, LLC each has subsidiaries and affiliates with names that may include NextEra Energy, FPL, NextEra Energy Resources, NextEra, FPL Group Capital, FPL Energy, FPLE and similar references.  For convenience and simplicity, in this report the terms NEE, FPL, NEECH and NEER are sometimes used as abbreviated references to specific subsidiaries, affiliates or groups of subsidiaries or affiliates.  The precise meaning depends on the context.

2

FORWARD-LOOKING STATEMENTS

This report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, strategies, future events or performance (often, but not always, through the use of words or phrases such as may result, are expected to, will continue, is anticipated, aim, believe, will, could, should, would, estimated, may, plan, potential, future, projection, goals, target, outlook, predict and intend or words of similar meaning) are not statements of historical facts and may be forward looking.  Forward-looking statements involve estimates, assumptions and uncertainties.  Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors (in addition to any assumptions and other factors referred to specifically in connection with such forward-looking statements) that could have a significant impact on NextEra Energy, Inc.'s (NEE) and/or Florida Power & Light Company's (FPL) operations and financial results, and could cause NEE's and/or FPL's actual results to differ materially from those contained or implied in forward-looking statements made by or on behalf of NEE and/or FPL in this combined Form 10-Q, in presentations, on their respective websites, in response to questions or otherwise.

Regulatory, Legislative and Legal Risks

• NEE's and FPL's business, financial condition, results of operations and prospects may be materially adversely affected by the extensive regulation of their business.

• NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected if they are unable to recover in a timely manner any significant amount of costs, a return on certain assets or an appropriate return on capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise.

• Regulatory decisions that are important to NEE and FPL may be materially adversely affected by political, regulatory and economic factors.

• FPL's use of derivative instruments could be subject to prudence challenges and, if found imprudent, could result in disallowances of cost recovery for such use by the Florida Public Service Commission (FPSC).

• Any reductions to, or the elimination of, governmental incentives that support renewable energy, including, but not limited to, tax incentives, renewable portfolio standards or feed-in tariffs, or the imposition of additional taxes or other assessments on renewable energy, could result in, among other items, the lack of a satisfactory market for the development of new renewable energy projects, NextEra Energy Resources, LLC (NEER) abandoning the development of renewable energy projects, a loss of NEER's investments in renewable energy projects and reduced project returns, any of which could have a material adverse effect on NEE's business, financial condition, results of operations and prospects.

• NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected as a result of new or revised laws, regulations or interpretations or other regulatory initiatives.

• NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected if the rules implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act broaden the scope of its provisions regarding the regulation of over-the-counter (OTC) financial derivatives and make certain provisions applicable to NEE and FPL.

• NEE and FPL are subject to numerous environmental laws, regulations and other standards that may result in capital expenditures, increased operating costs and various liabilities, and may require NEE and FPL to limit or eliminate certain operations.

• NEE's and FPL's business could be negatively affected by federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions.

• Extensive federal regulation of the operations of NEE and FPL exposes NEE and FPL to significant and increasing compliance costs and may also expose them to substantial monetary penalties and other sanctions for compliance failures.

• Changes in tax laws, as well as judgments and estimates used in the determination of tax-related asset and liability amounts, could adversely affect NEE's and FPL's business, financial condition, results of operations and prospects.

• NEE's and FPL's business, financial condition, results of operations and prospects may be materially adversely affected due to adverse results of litigation.

Operational Risks

• NEE's and FPL's business, financial condition, results of operations and prospects could suffer if NEE and FPL do not proceed with projects under development or are unable to complete the construction of, or capital improvements to, electric generation, transmission and distribution facilities, gas infrastructure facilities or other facilities on schedule or within budget.

• NEE and FPL may face risks related to project siting, financing, construction, permitting, governmental approvals and the negotiation of project development agreements that may impede their development and operating activities.

• The operation and maintenance of NEE's and FPL's electric generation, transmission and distribution facilities, gas infrastructure facilities and other facilities are subject to many operational risks, the consequences of which could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

3

• NEE's and FPL's business, financial condition, results of operations and prospects may be negatively affected by a lack of growth or slower growth in the number of customers or in customer usage.

• NEE's and FPL's business, financial condition, results of operations and prospects can be materially adversely affected by weather conditions, including, but not limited to, the impact of severe weather.

• Threats of terrorism and catastrophic events that could result from terrorism, cyber attacks, or individuals and/or groups attempting to disrupt NEE's and FPL's business, or the businesses of third parties, may materially adversely affect NEE's and FPL's business, financial condition, results of operations and prospects.

• The ability of NEE and FPL to obtain insurance and the terms of any available insurance coverage could be materially adversely affected by international, national, state or local events and company-specific events, as well as the financial condition of insurers.  NEE's and FPL's insurance coverage does not provide protection against all significant losses.

• If supply costs necessary to provide NEER's full energy and capacity requirement services are not favorable, operating costs could increase and materially adversely affect NEE's business, financial condition, results of operations and prospects.

• Due to the potential for significant volatility in market prices for fuel, electricity and renewable and other energy commodities, NEER's inability or failure to manage properly or hedge effectively the commodity risks within its portfolios could materially adversely affect NEE's business, financial condition, results of operations and prospects.

• Sales of power on the spot market or on a short-term contractual basis may cause NEE's results of operations to be volatile.

• Reductions in the liquidity of energy markets may restrict the ability of NEE to manage its operational risks, which, in turn, could negatively affect NEE's results of operations.

• NEE's and FPL's hedging and trading procedures and associated risk management tools may not protect against significant losses.

• If price movements significantly or persistently deviate from historical behavior, NEE's and FPL's risk management tools associated with their hedging and trading procedures may not protect against significant losses.

• If power transmission or natural gas, nuclear fuel or other commodity transportation facilities are unavailable or disrupted, FPL's and NEER's ability to sell and deliver power or natural gas may be limited.

• NEE and FPL are subject to credit and performance risk from customers, hedging counterparties and vendors.

• NEE and FPL could recognize financial losses or a reduction in operating cash flows if a counterparty fails to perform or make payments in accordance with the terms of derivative contracts or if NEE or FPL is required to post margin cash collateral under derivative contracts.

• NEE and FPL are highly dependent on sensitive and complex information technology systems, and any failure or breach of those systems could have a material adverse effect on their business, financial condition, results of operations and prospects.

• NEE's and FPL's retail businesses are subject to the risk that sensitive customer data may be compromised, which could result in a material adverse impact to their reputation and/or the results of operations of the retail business.

• NEE and FPL could recognize financial losses as a result of volatility in the market values of derivative instruments and limited liquidity in OTC markets.

• NEE and FPL may be materially adversely affected by negative publicity.

• NEE's and FPL's business, financial condition, results of operations and prospects may be materially adversely affected if FPL is unable to maintain, negotiate or renegotiate franchise agreements on acceptable terms with municipalities and counties in Florida.

• Increasing costs associated with health care plans may materially adversely affect NEE's and FPL's results of operations.

• NEE's and FPL's business, financial condition, results of operations and prospects could be negatively affected by the lack of a qualified workforce or the loss or retirement of key employees.

• NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected by work strikes or stoppages and increasing personnel costs.

• NEE's ability to successfully identify, complete and integrate acquisitions is subject to significant risks, including, but not limited to, the effect of increased competition for acquisitions resulting from the consolidation of the power industry.

Nuclear Generation Risks

• The construction, operation and maintenance of NEE's and FPL's nuclear generation facilities involve environmental, health and financial risks that could result in fines or the closure of the facilities and in increased costs and capital expenditures.

• In the event of an incident at any nuclear generation facility in the United States (U.S.) or at certain nuclear generation facilities in Europe, NEE and FPL could be assessed significant retrospective assessments and/or retrospective insurance

4

premiums as a result of their participation in a secondary financial protection system and nuclear insurance mutual companies.

• U.S. Nuclear Regulatory Commission (NRC) orders or new regulations related to increased security measures and any future safety requirements promulgated by the NRC could require NEE and FPL to incur substantial operating and capital expenditures at their nuclear generation facilities.

• The inability to operate any of NEER's or FPL's nuclear generation units through the end of their respective operating licenses could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

• Various hazards posed to nuclear generation facilities, along with increased public attention to and awareness of such hazards, could result in increased nuclear licensing or compliance costs which are difficult or impossible to predict and could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects.

• NEE's and FPL's nuclear units are periodically removed from service to accommodate normal refueling and maintenance outages, and for other purposes.  If planned outages last longer than anticipated or if there are unplanned outages, NEE's and FPL's results of operations and financial condition could be materially adversely affected.

Liquidity, Capital Requirements and Common Stock Risks

• Disruptions, uncertainty or volatility in the credit and capital markets may negatively affect NEE's and FPL's ability to fund their liquidity and capital needs and to meet their growth objectives, and can also adversely affect the results of operations and financial condition of NEE and FPL.

• NEE's, NextEra Energy Capital Holdings, Inc.'s (NEECH) and FPL's inability to maintain their current credit ratings may adversely affect NEE's and FPL's liquidity and results of operations, limit the ability of NEE and FPL to grow their business, and increase interest costs.

• NEE's and FPL's liquidity may be impaired if their creditors are unable to fund their credit commitments to the companies or to maintain their current credit ratings.

• Poor market performance and other economic factors could affect NEE's defined benefit pension plan's funded status, which may materially adversely affect NEE's and FPL's business, financial condition, liquidity and results of operations and prospects.

• Poor market performance and other economic factors could adversely affect the asset values of NEE's and FPL's nuclear decommissioning funds, which may materially adversely affect NEE's and FPL's liquidity and results of operations.

• Certain of NEE's investments are subject to changes in market value and other risks, which may materially adversely affect NEE's liquidity, financial results and results of operations.

• NEE may be unable to meet its ongoing and future financial obligations and to pay dividends on its common stock if its subsidiaries are unable to pay upstream dividends or repay funds to NEE.

• NEE may be unable to meet its ongoing and future financial obligations and to pay dividends on its common stock if NEE is required to perform under guarantees of obligations of its subsidiaries.

• Disruptions, uncertainty or volatility in the credit and capital markets may exert downward pressure on the market price of NEE's common stock.

These factors should be read together with the risk factors included in Part I, Item 1A. Risk Factors in NEE's and FPL's Annual Report on Form 10-K for the year ended December 31, 2013 (2013 Form 10-K), and investors should refer to that section of the 2013 Form 10-K. Any forward-looking statement speaks only as of the date on which such statement is made, and NEE and FPL undertake no obligation to update any forward-looking statement to reflect events or circumstances, including, but not limited to, unanticipated events, after the date on which such statement is made, unless otherwise required by law.  New factors emerge from time to time and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement.

Website Access to U.S. Securities and Exchange Commission (SEC) Filings.  NEE and FPL make their SEC filings, including the annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any amendments to those reports, available free of charge on NEE's internet website, www.nexteraenergy.com, as soon as reasonably practicable after those documents are electronically filed with or furnished to the SEC.  The information and materials available on NEE's website (or any of its subsidiaries' websites) are not incorporated by reference into this combined Form 10-Q.  The SEC maintains an internet website that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC at www.sec.gov.

5

PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

NEXTERA ENERGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(millions, except per share amounts)

(unaudited)

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2014			2013			2014			2013
OPERATING REVENUES	$	4,654		$	4,394		$	12,357		$	11,506
OPERATING EXPENSES
Fuel, purchased power and interchange	1,566			1,438			4,337			3,766
Other operations and maintenance	772			818			2,296			2,338
Impairment charge	—			—			—			300
Depreciation and amortization	782			605			1,859			1,523
Taxes other than income taxes and other	371			348			1,012			978
Total operating expenses	3,491			3,209			9,504			8,905
OPERATING INCOME	1,163			1,185			2,853			2,601
OTHER INCOME (DEDUCTIONS)
Interest expense	(316		)	(288		)	(940		)	(825		)
Benefits associated with differential membership interests - net	23			37			146			119
Equity in earnings of equity method investees	38			22			60			27
Allowance for equity funds used during construction	7			12			28			50
Interest income	18			20			60			58
Gains on disposal of assets - net	12			20			89			40
Gain (loss) associated with Maine fossil	—			—			21			(67		)
Other - net	(2		)	(13		)	(9		)	—
Total other deductions - net	(220		)	(190		)	(545		)	(598		)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	943			995			2,308			2,003
INCOME TAXES	279			297			723			653
INCOME FROM CONTINUING OPERATIONS	664			698			1,585			1,350
GAIN FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	—			—			—			231
NET INCOME	664			698			1,585			1,581
LESS NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(4		)	—			(4		)	—
NET INCOME ATTRIBUTABLE TO NEXTERA ENERGY, INC.	$	660		$	698		$	1,581		$	1,581
Earnings per share attributable to NextEra Energy, Inc. - basic:
Continuing operations	$	1.52		$	1.65		$	3.64		$	3.19
Discontinued operations	—			—			—			0.55
Total	$	1.52		$	1.65		$	3.64		$	3.74
Earnings per share attributable to NextEra Energy, Inc. - assuming dilution:
Continuing operations	$	1.50		$	1.64		$	3.60		$	3.18
Discontinued operations	—			—			—			0.54
Total	$	1.50		$	1.64		$	3.60		$	3.72
Dividends per share of common stock	$	0.725		$	0.66		$	2.175		$	1.98
Weighted-average number of common shares outstanding:
Basic	434.5			423.8			434.0			422.2
Assuming dilution	440.5			426.8			439.6			424.8

This report should be read in conjunction with the Notes to Condensed Consolidated Financial Statements (Notes) herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

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NEXTERA ENERGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(millions)

(unaudited)

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2014			2013			2014			2013
NET INCOME	$	664		$	698		$	1,585		$	1,581
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX
Net unrealized gains (losses) on cash flow hedges:
Effective portion of net unrealized gains (losses) (net of $18, $7 and $36 tax benefit and $45 tax expense, respectively)	(33		)	(18		)	(64		)	83
Reclassification from accumulated other comprehensive income to net income (net of $26, $5, $32 and $27 tax expense, respectively)	45			9			56			48
Net unrealized gains (losses) on available for sale securities:
Net unrealized gains (losses) on securities still held (net of $1 tax benefit, $22, $30 and $49 tax expense, respectively)	(12		)	30			40			72
Reclassification from accumulated other comprehensive income to net income (net of $4, $4, $23 and $11 tax benefit, respectively)	(6		)	(7		)	(35		)	(17		)
Defined benefit pension and other benefits plans (net of $3 and $5 tax expense, respectively)	—			—			5			7
Net unrealized gains (losses) on foreign currency translation (net of $3 tax benefit, $2 tax expense, $3 and $13 tax benefit, respectively)	(6		)	6			(6		)	(26		)
Other comprehensive income (loss) related to equity method investee (net of $3 tax benefit and $4 tax expense, respectively)	—			—			(5		)	6
Total other comprehensive income (loss), net of tax	(12		)	20			(9		)	173
COMPREHENSIVE INCOME	652			718			1,576			1,754
LESS COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(4		)	—			(4		)	—
COMPREHENSIVE INCOME ATTRIBUTABLE TO NEXTERA ENERGY, INC.	$	648		$	718		$	1,572		$	1,754

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

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NEXTERA ENERGY, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(millions, except par value)

(unaudited)

	September 30, 2014			December 31, 2013
PROPERTY, PLANT AND EQUIPMENT
Electric plant in service and other property	$	66,223		$	62,699
Nuclear fuel	2,150			2,059
Construction work in progress	4,538			4,690
Less accumulated depreciation and amortization	(17,844		)	(16,728		)
Total property, plant and equipment - net ($4,976 and $5,127 related to VIEs, respectively)	55,067			52,720
CURRENT ASSETS
Cash and cash equivalents	485			438
Customer receivables, net of allowances of $40 and $14, respectively	2,022			1,777
Other receivables	389			512
Materials, supplies and fossil fuel inventory	1,269			1,153
Regulatory assets:
Deferred clause and franchise expenses	237			192
Other	153			116
Derivatives	562			498
Deferred income taxes	31			753
Other	485			403
Total current assets	5,633			5,842
OTHER ASSETS
Special use funds ($129 related to a VIE at September 30, 2014)	5,030			4,780
Other investments ($71 related to a VIE at September 30, 2014)	1,384			1,121
Prepaid benefit costs	1,515			1,456
Regulatory assets:
Securitized storm-recovery costs ($190 and $228 related to a VIE, respectively)	311			372
Other	473			426
Derivatives	842			1,163
Other	1,938			1,426
Total other assets	11,493			10,744
TOTAL ASSETS	$	72,193		$	69,306
CAPITALIZATION
Common stock ($0.01 par value, authorized shares - 800; outstanding shares - 436 and 435, respectively)	$	4		$	4
Additional paid-in capital	6,555			6,411
Retained earnings	12,204			11,569
Accumulated other comprehensive income	47			56
Noncontrolling interests ($71 related to a VIE)	334			—
Total common shareholders' equity	19,144			18,040
Long-term debt ($1,077 and $1,207 related to VIEs, respectively)	24,853			23,969
Total capitalization	43,997			42,009
CURRENT LIABILITIES
Commercial paper	685			691
Short-term debt	500			—
Current maturities of long-term debt	3,385			3,766
Accounts payable	1,496			1,200
Customer deposits	457			452
Accrued interest and taxes	831			473
Derivatives	757			838
Accrued construction-related expenditures	756			839
Other	705			930
Total current liabilities	9,572			9,189
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	1,935			1,850
Deferred income taxes	7,999			8,144
Regulatory liabilities:
Accrued asset removal costs	1,881			1,839
Asset retirement obligation regulatory expense difference	2,186			2,082
Other	522			462
Derivatives	568			473
Deferral related to differential membership interests - VIEs	1,847			2,001
Other	1,686			1,257
Total other liabilities and deferred credits	18,624			18,108
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	72,193		$	69,306

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

8

NEXTERA ENERGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(millions)

(unaudited)

	Nine Months Ended   September 30,
	2014			2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	1,585		$	1,581
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,859			1,523
Nuclear fuel and other amortization	259			262
Impairment charge	—			300
Unrealized losses (gains) on marked to market energy contracts	281			(84		)
Deferred income taxes	716			799
Cost recovery clauses and franchise fees	(93		)	(126		)
Benefits associated with differential membership interests - net	(146		)	(119		)
Equity in earnings of equity method investees	(60		)	(27		)
Allowance for equity funds used during construction	(28		)	(50		)
Gains on disposal of assets - net	(89		)	(40		)
Gain from discontinued operations, net of income taxes	—			(231		)
Loss (gain) associated with Maine fossil	(21		)	67
Other - net	319			163
Changes in operating assets and liabilities:
Customer and other receivables	(263		)	(384		)
Materials, supplies and fossil fuel inventory	(112		)	(69		)
Other current assets	(65		)	(4		)
Other assets	(182		)	(23		)
Accounts payable and customer deposits	147			123
Margin cash collateral	(321		)	(448		)
Income taxes	(30		)	(120		)
Interest and other taxes	378			350
Other current liabilities	(149		)	(17		)
Other liabilities	(17		)	(36		)
Net cash provided by operating activities	3,968			3,390
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures of FPL	(2,235		)	(2,093		)
Independent power and other investments of NEER	(2,471		)	(2,244		)
Cash grants under the American Recovery and Reinvestment Act of 2009	321			170
Nuclear fuel purchases	(237		)	(200		)
Other capital expenditures and other investments	(115		)	(122		)
Sale of independent power investments	307			—
Change in loan proceeds restricted for construction	(18		)	245
Proceeds from sale or maturity of securities in special use funds and other investments	3,579			2,783
Purchases of securities in special use funds and other investments	(3,701		)	(2,854		)
Proceeds from the sale of a noncontrolling interest in subsidiaries	438			—
Other - net	54			49
Net cash used in investing activities	(4,078		)	(4,266		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	4,244			3,653
Retirements of long-term debt	(3,688		)	(1,669		)
Proceeds from sale of differential membership interests	39			201
Payments to differential membership investors	(53		)	(47		)
Net change in short-term debt	495			(495		)
Issuances of common stock - net	57			415
Dividends on common stock	(945		)	(836		)
Other - net	8			(117		)
Net cash provided by financing activities	157			1,105
Net increase in cash and cash equivalents	47			229
Cash and cash equivalents at beginning of period	438			329
Cash and cash equivalents at end of period	$	485		$	558
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued property additions	$	1,163		$	792
Sale of hydropower generation plants through assumption of debt by buyer	$	—		$	700
Changes in property, plant and equipment as a result of a settlement	$	113		$	—

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

9

FLORIDA POWER & LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(millions)

(unaudited)

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2014			2013			2014			2013
OPERATING REVENUES	$	3,315		$	3,020		$	8,739		$	7,905
OPERATING EXPENSES
Fuel, purchased power and interchange	1,255			1,141			3,367			2,979
Other operations and maintenance	414			443			1,186			1,254
Depreciation and amortization	489			351			1,046			780
Taxes other than income taxes and other	323			307			892			847
Total operating expenses	2,481			2,242			6,491			5,860
OPERATING INCOME	834			778			2,248			2,045
OTHER INCOME (DEDUCTIONS)
Interest expense	(112		)	(105		)	(325		)	(310		)
Allowance for equity funds used during construction	7			12			27			42
Other - net	—			—			1			1
Total other deductions - net	(105		)	(93		)	(297		)	(267		)
INCOME BEFORE INCOME TAXES	729			685			1,951			1,778
INCOME TAXES	267			263			720			677
NET INCOME(a)	$	462		$	422		$	1,231		$	1,101

_______________________

(a) FPL's comprehensive income is the same as reported net income.

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

10

FLORIDA POWER & LIGHT COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(millions, except share amount)

(unaudited)

	September 30, 2014			December 31, 2013
ELECTRIC UTILITY PLANT
Plant in service and other property	$	38,836		$	36,838
Nuclear fuel	1,311			1,240
Construction work in progress	1,458			1,818
Less accumulated depreciation and amortization	(11,385		)	(10,944		)
Total electric utility plant - net	30,220			28,952
CURRENT ASSETS
Cash and cash equivalents	29			19
Customer receivables, net of allowances of $9 and $5, respectively	1,051			757
Other receivables	121			137
Materials, supplies and fossil fuel inventory	835			742
Regulatory assets:
Deferred clause and franchise expenses	237			192
Other	146			105
Other	122			261
Total current assets	2,541			2,213
OTHER ASSETS
Special use funds ($129 related to a VIE at September 30, 2014)	3,434			3,273
Prepaid benefit costs	1,177			1,142
Regulatory assets:
Securitized storm-recovery costs ($190 and $228 related to a VIE, respectively)	311			372
Other	435			396
Other ($71 related to a VIE at September 30, 2014)	285			140
Total other assets	5,642			5,323
TOTAL ASSETS	$	38,403		$	36,488
CAPITALIZATION
Common stock (no par value, 1,000 shares authorized, issued and outstanding)	$	1,373		$	1,373
Additional paid-in capital	6,279			6,179
Retained earnings	5,464			5,532
Noncontrolling interests - VIE	71			—
Total common shareholder's equity	13,187			13,084
Long-term debt ($273 and $331 related to a VIE, respectively)	9,413			8,473
Total capitalization	22,600			21,557
CURRENT LIABILITIES
Commercial paper	280			204
Current maturities of long-term debt	58			356
Accounts payable	674			611
Customer deposits	453			447
Accrued interest and taxes	984			272
Accrued construction-related expenditures	198			202
Other	376			438
Total current liabilities	3,023			2,530
OTHER LIABILITIES AND DEFERRED CREDITS
Asset retirement obligations	1,337			1,285
Deferred income taxes	6,480			6,355
Regulatory liabilities:
Accrued asset removal costs	1,876			1,839
Asset retirement obligation regulatory expense difference	2,186			2,082
Other	450			386
Other	451			454
Total other liabilities and deferred credits	12,780			12,401
COMMITMENTS AND CONTINGENCIES
TOTAL CAPITALIZATION AND LIABILITIES	$	38,403		$	36,488

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

11

FLORIDA POWER & LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(millions)

(unaudited)

	Nine Months Ended   September 30,
	2014			2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	1,231		$	1,101
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,046			780
Nuclear fuel and other amortization	149			137
Deferred income taxes	249			465
Cost recovery clauses and franchise fees	(93		)	(126		)
Allowance for equity funds used during construction	(27		)	(42		)
Other - net	114			106
Changes in operating assets and liabilities:
Customer and other receivables	(288		)	(265		)
Materials, supplies and fossil fuel inventory	(92		)	(30		)
Other current assets	(33		)	(5		)
Other assets	(92		)	(19		)
Accounts payable and customer deposits	90			88
Income taxes	391			371
Interest and other taxes	343			314
Other current liabilities	(92		)	(65		)
Other liabilities	(27		)	(18		)
Net cash provided by operating activities	2,869			2,792
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(2,235		)	(2,093		)
Nuclear fuel purchases	(129		)	(116		)
Proceeds from sale or maturity of securities in special use funds	2,530			1,967
Purchases of securities in special use funds	(2,578		)	(2,020		)
Other - net	36			28
Net cash used in investing activities	(2,376		)	(2,234		)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of long-term debt	998			498
Retirements of long-term debt	(355		)	(453		)
Net change in short-term debt	76			475
Capital contribution from NEE	100			—
Dividends to NEE	(1,300		)	(1,070		)
Other - net	(2		)	6
Net cash used in financing activities	(483		)	(544		)
Net increase in cash and cash equivalents	10			14
Cash and cash equivalents at beginning of period	19			40
Cash and cash equivalents at end of period	$	29		$	54
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Accrued property additions	$	354		$	296

This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2013 Form 10-K.

12

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

The accompanying condensed consolidated financial statements should be read in conjunction with the 2013 Form 10-K.  In the opinion of NEE and FPL management, all adjustments (consisting of normal recurring accruals) considered necessary for fair financial statement presentation have been made.  Certain amounts included in the prior year's condensed consolidated financial statements have been reclassified to conform to the current year's presentation. See Note 4 - Nonrecurring Fair Value Measurements for a discussion of the decision not to pursue the sale of NEER's ownership interests in oil-fired generating plants located in Maine with a total generating capacity of 796 megawatts (MW) (Maine fossil) and the related financial statement impacts. The results of operations for an interim period generally will not give a true indication of results for the year.

1.  Summary of Significant Accounting and Reporting Policies

Revenue Recognition - In May 2014, the Financial Accounting Standards Board (FASB) issued a new accounting standard which provides guidance on the recognition of revenue from contracts with customers and requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows from an entity's contracts with customers.  The standard is effective for NEE and FPL beginning January 1, 2017.  NEE and FPL are currently evaluating the effect the adoption of this standard will have, if any, on their consolidated financial statements.

Basis of Presentation - NEE formed NextEra Energy Partners, LP (NEP) to own, operate and acquire contracted clean energy projects with stable, long-term cash flows through a limited partner interest in NextEra Energy Operating Partners, LP (NEP OpCo).  On July 1, 2014, NEP closed its initial public offering (IPO) by issuing 18,687,500 common units representing limited partnership interests.  The proceeds from the sale of the common units, net of underwriting discounts, commissions and structuring fees, were approximately $438 million.  NEP used such proceeds to purchase 18,687,500 common units of NEP OpCo, of which approximately $288 million was used to purchase common units from an indirect wholly-owned subsidiary of NEE and $150 million was used to purchase common units from NEP OpCo which will use that amount for its general partnership purposes, including to fund future acquisition opportunities.  Through an indirect wholly-owned subsidiary, NEE retained 74,440,000 units of NEP OpCo representing a 79.9% interest in NEP's operating projects.  Additionally, NEE owns a controlling general partner interest in NEP and consolidates this entity for financial reporting purposes and presents NEP's limited partner interest as a noncontrolling interest in NEE's financial statements.  The IPO resulted in a deferred gain of approximately $299 million which is reflected in noncurrent other liabilities on NEE's condensed consolidated balance sheet at September 30, 2014.  Upon completion of the IPO, NEP, through NEER's contribution of energy projects to NEP OpCo, owned a portfolio of ten wind and solar projects with generation capacity totaling approximately 990 MW.

Noncontrolling Interests - The following table reflects the changes in NEE's noncontrolling interests balance for the three and nine months ended September 30, 2014:

	Noncontrolling Interests
	(millions)
Noncontrolling interests at December 31, 2013 and June 30, 2014	$	—
NEP acquisition of limited partner interest in NEP OpCo	232
Other noncontrolling interests	98
Comprehensive income attributable to noncontrolling interests	4
Noncontrolling interests at September 30, 2014	$	334

The NEP acquisition of limited partner interest in NEP OpCo primarily reflects the value of NEP's interest in the underlying assets held by NEP OpCo at the time of the IPO.  Other noncontrolling interests primarily reflect the outside equity interests in a limited partnership that was consolidated by FPL during the three months ended September 30, 2014, which is included in other investments on NEE's condensed consolidated balance sheets (noncurrent other assets on FPL's condensed consolidated balance sheets) at September 30, 2014.  See Note 7 - FPL.

2.  Employee Retirement Benefits

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

13

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

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

	Pension Benefits						Other Benefits						Pension Benefits						Other Benefits
	Three Months Ended   September 30,						Three Months Ended   September 30,						Nine Months Ended   September 30,						Nine Months Ended   September 30,
	2014			2013			2014			2013			2014			2013			2014			2013
	(millions)
Service cost	$	15		$	19		$	—		$	1		$	47		$	55		$	2		$	3
Interest cost	25			23			4			3			76			71			12			11
Expected return on plan assets	(60		)	(59		)	—			(1		)	(180		)	(178		)	(1		)	(1		)
Amortization of prior service cost (benefit)	3			2			(1		)	—			4			6			(2		)	(2		)
Amortization of losses	—			—			—			1			—			1			—			2
Special termination benefits	—			15			—			—			—			27			—			—
Net periodic benefit (income) cost at NEE	$	(17	)	$	—		$	3		$	4		$	(53	)	$	(18	)	$	11		$	13
Net periodic benefit (income) cost at FPL	$	(11	)	$	2		$	2		$	3		$	(34	)	$	(10	)	$	8		$	9

3.  Derivative Instruments

NEE 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 issuances, and to optimize the value of NEER's power generation and gas infrastructure assets.

With respect to commodities related to NEE's competitive energy business, NEER employs risk management procedures to conduct its activities related to optimizing the value of its power generation and gas infrastructure assets, providing full energy and capacity requirements services primarily to distribution utilities, and engaging 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 OTC markets, depending on the most favorable credit terms and market execution factors.  For NEER's power generation and gas infrastructure 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 all or a portion of the expected output of these assets.  These hedges are designed to reduce the effect of adverse changes in the wholesale forward commodity markets associated with NEER's power generation and gas infrastructure assets.  With regard to full energy and capacity requirements services, NEER is required to vary the quantity of energy and related services based on the load demands of the customers served.  For this type of transaction, derivative instruments are used to hedge the anticipated electricity quantities required to serve these customers and reduce the effect of unfavorable changes in the forward energy markets.  Additionally, NEER takes positions in the energy markets based on differences between actual forward market levels and management's view of fundamental market conditions, including supply/demand imbalances, changes in traditional flows of energy, changes in short- and long-term weather patterns and anticipated regulatory and legislative outcomes.  NEER 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 NEE's and FPL's condensed consolidated balance sheets as either an asset or liability measured at fair value.  At FPL, substantially all changes in the derivatives' fair value are deferred as a regulatory asset or liability until the contracts are settled, and, upon settlement, any gains or losses are passed through the fuel and purchased power cost recovery clause (fuel clause).  For NEE's non-rate regulated operations, predominantly NEER, essentially all changes in the derivatives' fair value for power purchases and sales, fuel sales and trading activities are recognized on a net basis in operating revenues; fuel purchases used in the production of electricity are recognized 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 NEE's condensed consolidated statements of income.  Settlement gains and losses are included within the line items in the condensed consolidated statements of income to which they relate.  Transactions for which physical delivery is deemed not to have occurred are presented on a net basis in the condensed consolidated statements of income.  For commodity derivatives, NEE 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.  Settlements related to derivative instruments are primarily recognized in net cash provided by operating activities in NEE's and FPL's condensed consolidated statements of cash flows.

While most of NEE's derivatives are entered into for the purpose of managing commodity price risk, optimizing the value of NEER's power generation and gas infrastructure assets, reducing the impact of volatility in interest rates on outstanding and forecasted

14

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

debt issuances and managing foreign currency risk, 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 forecasted transactions, the forecasted transactions must be probable.  For interest rate and foreign currency derivative instruments, generally NEE assesses a hedging instrument's effectiveness by using 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.  Hedge effectiveness is tested at the inception of the hedge and on at least a quarterly basis throughout its life.  The effective portion of the gain or loss on a derivative instrument designated as a cash flow hedge is reported as a component of other comprehensive income (OCI) and is reclassified into earnings in the period(s) during which the transaction being hedged affects earnings or when it becomes probable that a forecasted transaction being hedged would not occur.  The ineffective portion of net unrealized gains (losses) on these hedges is reported in earnings in the current period.  In April 2013, NEE discontinued hedge accounting for cash flow hedges related to interest rate swaps associated with the solar projects in Spain (see Note 10 - Spain Solar Projects).  At September 30, 2014, NEE's accumulated other comprehensive income (AOCI) included amounts related to interest rate cash flow hedges with expiration dates through September 2032 and foreign currency cash flow hedges with expiration dates through September 2030.  Approximately $50 million of net losses included in AOCI at September 30, 2014 is expected to be reclassified into earnings within the next 12 months as the principal and/or interest payments are made.  Such amounts assume no change in interest rates, currency exchange rates or scheduled principal payments.

Fair Value of Derivative Instruments - The tables below present NEE's and FPL's gross derivative positions at September 30, 2014 and December 31, 2013, as required by disclosure rules.  However, the majority of the underlying contracts are subject to master netting agreements and generally would not be contractually settled on a gross basis.  Therefore, the tables below also present the derivative positions on a net basis, 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 (see Note 4 - Recurring Fair Value Measurements for netting information), as well as the location of the net derivative position on the condensed consolidated balance sheets.

	September 30, 2014
	Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Total Derivatives Combined - Net Basis
	Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
	(millions)
NEE:
Commodity contracts	$	—	$	—	$	5,245	$	4,777	$	1,339	$	995
Interest rate contracts	28		91		—		128		65		256
Foreign currency swaps	—		74		—		—		—		74
Total fair values	$	28	$	165	$	5,245	$	4,905	$	1,404	$	1,325
FPL:
Commodity contracts	$	—	$	—	$	15	$	60	$	4	$	49
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	562
Noncurrent derivative assets(b)									842
Current derivative liabilities(c)											$	757
Noncurrent derivative liabilities(d)											568
Total derivatives									$	1,404	$	1,325
Net fair value by FPL balance sheet line item:
Current other assets									$	3
Noncurrent other assets									1
Current other liabilities											$	39
Noncurrent other liabilities											10
Total derivatives									$	4	$	49

______________________

(a) Reflects the netting of approximately $161 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $70 million in margin cash collateral received from counterparties.

(c) Reflects the netting of approximately $68 million in margin cash collateral provided to counterparties.

(d) Reflects the netting of approximately $39 million in margin cash collateral provided to counterparties.

15

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

	December 31, 2013
	Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis				Total Derivatives Combined - Net Basis
	Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
	(millions)
NEE:
Commodity contracts	$	—	$	—	$	4,543	$	3,633	$	1,571	$	940
Interest rate contracts	89		127		1		93		90		220
Foreign currency swaps	—		50		—		101		—		151
Total fair values	$	89	$	177	$	4,544	$	3,827	$	1,661	$	1,311
FPL:
Commodity contracts	$	—	$	—	$	55	$	9	$	48	$	2
Net fair value by NEE balance sheet line item:
Current derivative assets(a)									$	498
Noncurrent derivative assets(b)									1,163
Current derivative liabilities											$	838
Noncurrent derivative liabilities											473
Total derivatives									$	1,661	$	1,311
Net fair value by FPL balance sheet line item:
Current other assets									$	48
Current other liabilities											$	1
Noncurrent other liabilities											1
Total derivatives									$	48	$	2

______________________

(a) Reflects the netting of approximately $181 million in margin cash collateral received from counterparties.

(b) Reflects the netting of approximately $98 million in margin cash collateral received from counterparties.

At September 30, 2014 and December 31, 2013, NEE had approximately $15 million and $24 million (none at FPL), respectively, in margin cash collateral received from counterparties that was not offset against derivative assets in the above presentation.  These amounts are included in current other liabilities on NEE's condensed consolidated balance sheets.  Additionally, at September 30, 2014 and December 31, 2013, NEE had approximately $182 million and $42 million (none at FPL), respectively, in margin cash collateral provided to counterparties that was not offset against derivative assets or liabilities in the above presentation.  These amounts are included in current other assets on NEE's condensed consolidated balance sheets.

Income Statement Impact of Derivative Instruments - Gains (losses) related to NEE's cash flow hedges are recorded in NEE's condensed consolidated financial statements (none at FPL) as follows:

	Three Months Ended September 30,
	2014											2013
	Interest Rate Contracts				Foreign Currency Swaps				Total			Interest Rate Contracts				Foreign Currency Swaps			Total
	(millions)
Gains (losses) recognized in OCI	$	(6	)		$	(45	)		$	(51	)	$	(29	)		$	4		$	(25	)
Gains (losses) reclassified from AOCI to net income	$	(20	)	(a)	$	(51	)	(b)	$	(71	)	$	(15	)	(a)	$	1	(c)	$	(14	)

————————————

(a) Included in interest expense.

(b) Loss of approximately $3 million is included in interest expense and the balance is included in other - net.

(c) Loss of approximately $1 million is included in interest expense and the balance is included in other - net.

16

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

	Nine Months Ended September 30,
	2014											2013
	Interest Rate Contracts				Foreign Currency Swaps				Total				Interest Rate Contracts				Foreign Currency Swaps				Total
	(millions)
Gains (losses) recognized in OCI	$	(70	)		$	(30	)		$	(100	)		$	136			$	(8	)		$	128
Losses reclassified from AOCI to net income	$	(62	)	(a)	$	(26	)	(b)	$	(88	)		$	(45	)	(a)	$	(30	)	(c)	$	(75	)

————————————

(a) Included in interest expense.

(b) Loss of approximately $5 million is included in interest expense and the balance is included in other - net.

(c) Loss of approximately $3 million is included in interest expense and the balance is included in other - net.

For the three months ended September 30, 2014 and 2013, NEE recorded a loss of approximately $22 million and a gain of $2 million, respectively, on fair value hedges which resulted in a corresponding decrease and increase, respectively, in the related debt.  For the nine months ended September 30, 2014 and 2013, NEE recorded losses of approximately $3 million and $55 million, respectively, on fair value hedges which resulted in corresponding decreases in the related debt.

Gains (losses) related to NEE's derivatives not designated as hedging instruments are recorded in NEE's condensed consolidated statements of income as follows:

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2014			2013			2014			2013
	(millions)
Commodity contracts:(a)
Operating revenues	$	46		$	138		$	(379	)	$	111
Fuel, purchased power and interchange	—			(9		)	(4		)	2
Foreign currency swap - other - net	—			3			(1		)	(49		)
Interest rate contracts - interest expense	(16		)	3			(51		)	14
Total	$	30		$	135		$	(435	)	$	78

————————————

(a) For the three and nine months ended September 30, 2014, FPL recorded approximately $113 million of losses and $34 million of gains, respectively, related to commodity contracts as regulatory assets and regulatory liabilities, respectively, on its condensed consolidated balance sheets.  For the three and nine months ended September 30, 2013, FPL recorded approximately $22 million and $27 million of losses, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets.

Notional Volumes of Derivative Instruments - The following table represents net notional volumes associated with derivative instruments that are required to be reported at fair value in NEE's and FPL's condensed consolidated financial statements.  The table includes significant volumes of transactions that have minimal exposure to commodity price changes because they are variably priced agreements.  These volumes are only an indication of the commodity exposure that is managed through the use of derivatives.  They do not represent net physical asset positions or non-derivative positions and their hedges, nor do they represent NEE’s and FPL’s net economic exposure, but only the net notional derivative positions that fully or partially hedge the related asset positions.  NEE and FPL had derivative commodity contracts for the following net notional volumes:

	September 30, 2014					December 31, 2013
Commodity Type	NEE			FPL		NEE			FPL
	(millions)
Power	(86	)	MWh(a)	—		(276	)	MWh(a)	—
Natural gas	1,403		MMBtu(b)	901	MMBtu(b)	1,140		MMBtu(b)	674	MMBtu(b)
Oil	(12	)	barrels	—		(10	)	barrels	—

————————————

(a) Megawatt-hours

(b) One million British thermal units

17

NEXTERA ENERGY, INC. AND FLORIDA POWER & LIGHT COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(unaudited)

At September 30, 2014 and December 31, 2013, NEE had interest rate contracts with a notional amount totaling approximately $7.2 billion and $6.5 billion, respectively, and foreign currency swaps with a notional amount totaling approximately $661 million and $662 million, respectively.

Credit-Risk-Related ContingentFeatures - Certain 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 September 30, 2014 and December 31, 2013, the aggregate fair value of NEE's derivative instruments with credit-risk-related contingent features that were in a liability position was approximately $2.0 billion ($59 million for FPL) and $2.1 billion ($9 million for FPL), respectively.

If the credit-risk-related contingent features underlying these agreements and other commodity-related contracts were triggered, certain subsidiaries of NEE, including FPL, could be required to post collateral or settle contracts according to contractual terms which generally allow netting of contracts in offsetting positions.  Certain contracts contain multiple types of credit-related triggers.  To the extent these contracts contain a credit ratings downgrade trigger, the maximum exposure is included in the following credit ratings collateral posting requirements.  If FPL's and NEECH's credit ratings were downgraded to BBB/Baa2 (a two level downgrade for FPL and a one level downgrade for NEECH from the current lowest applicable rating), applicable NEE subsidiaries would be required to post collateral such that the total posted collateral would be approximately $400 million ($20 million at FPL) as of September 30, 2014 and $400 million ($20 million at FPL) as of December 31, 2013.If FPL's and NEECH's credit ratings were downgraded to below investment grade, applicable NEE subsidiaries would be required to post additional collateral such that the total posted collateral would be approximately $2.4 billion ($0.5 billion at FPL) and $2.3 billion ($0.4 billion at FPL) as of September 30, 2014 and December 31, 2013, respectively.  Some 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, applicable NEE subsidiaries could be required to post additional collateral of up to approximately $700 million