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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
OPERATING REVENUES $ 4,370 $ 4,785 $ 12,023 $ 13,602
OPERATING EXPENSES        
Fuel, purchased power and interchange 1,383 1,111 3,393 2,663
Other operations and maintenance 910 922 2,764 2,656
Depreciation and amortization 1,230 1,279 2,960 3,108
Taxes other than income taxes and other – net 481 454 1,368 1,278
Total operating expenses – net 4,004 3,766 10,485 9,705
GAINS (LOSSES) ON DISPOSAL OF BUSINESSES/ASSETS – NET 13 (11) 20 279
OPERATING INCOME 379 1,008 1,558 4,176
OTHER INCOME (DEDUCTIONS)        
Interest expense (335) (208) (671) (1,839)
Equity in earnings of equity method investees 109 249 465 13
Allowance for equity funds used during construction 37 22 100 64
Interest income 7 7 33 31
Gains on disposal of investments and other property – net 17 16 69 42
Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net (26) 87 137 (23)
Other net periodic benefit income 64 50 193 149
Other – net 25 21 74 25
Total other income (deductions) – net (102) 244 400 (1,538)
INCOME BEFORE INCOME TAXES 277 1,252 1,958 2,638
INCOME TAX EXPENSE (BENEFIT) (27) 129 84 79
NET INCOME 304 1,123 1,874 2,559
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS 143 106 495 365
Net income (loss) attributable to NEE $ 447 $ 1,229 $ 2,369 $ 2,924
Earnings per share of common stock:        
Basic (in dollars per share) $ 0.23 $ 0.63 $ 1.21 $ 1.49
Assuming dilution (in dollars per share) $ 0.23 $ 0.62 $ 1.20 $ 1.49
FPL [Member]        
OPERATING REVENUES $ 4,134 $ 3,859 [1] $ 10,673 $ 9,885 [1]
OPERATING EXPENSES        
Fuel, purchased power and interchange 1,218 970 [1] 2,953 2,276 [1]
Other operations and maintenance 416 414 [1] 1,211 1,217 [1]
Depreciation and amortization 815 899 [1] 1,724 1,990 [1]
Taxes other than income taxes and other – net 419 400 [1] 1,175 1,113 [1]
Total operating expenses – net 2,868 2,683 [1] 7,063 6,596 [1]
OPERATING INCOME 1,266 1,176 [1] 3,610 3,289 [1]
OTHER INCOME (DEDUCTIONS)        
Interest expense (152) (155) [1] (461) (484) [1]
Allowance for equity funds used during construction 35 21 [1] 93 62 [1]
Other – net 8 0 [1] 11 2 [1]
Total other income (deductions) – net (109) (134) [1] (357) (420) [1]
INCOME BEFORE INCOME TAXES 1,157 1,042 [1] 3,253 2,869 [1]
INCOME TAX EXPENSE (BENEFIT) 230 194 [1] 667 535 [1]
NET INCOME [2] $ 927 $ 848 [1] $ 2,586 $ 2,334 [1],[3]
[1] Amounts have been retrospectively adjusted to reflect the merger of FPL and Gulf Power Company, see Note 5 – Merger of FPL and Gulf Power Company.
[2] FPL's comprehensive income is the same as reported net income.
[3] Amounts have been retrospectively adjusted to reflect the merger of FPL and Gulf Power Company, see Note 5 Merger of FPL and Gulf Power Company.