Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2011

Derivative Instruments and Hedging Activities Disclosure [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 condensed consolidated balance sheets as follows:

	NextEra Energy						FPL
	September 30, 2011			December 31, 2010			September 30, 2011				December 31, 2010
	(millions)
Current derivative assets(a)	$	327		$	506		$	6		(b)	$	8		(b)
Noncurrent derivative assets(c)	499			589			2			(d)	1			(d)
Current derivative liabilities(e)	(571		)	(536		)	(269		)		(245		)
Noncurrent derivative liabilities(f)	(454		)	(243		)	(27		)	(g)	—
Total mark-to-market derivative instrument assets (liabilities)	$	(199	)	$	316		$	(288	)		$	(236	)

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(a) At September 30, 2011 and December 31, 2010, NextEra Energy's balances reflect the netting of approximately $43 million and $23 million (none at FPL), respectively, in margin cash collateral received from counterparties.

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

(c) At September 30, 2011 and December 31, 2010, NextEra Energy's balances reflect the netting of approximately $54 million and $43 million (none at FPL), respectively, in margin cash collateral received from counterparties.

(d) Included in noncurrent other assets on FPL's condensed consolidated balance sheets.

(e) At September 30, 2011 and December 31, 2010, NextEra Energy's balances reflect the netting of approximately $88 million and $23 million (none at FPL), respectively, in margin cash collateral provided to counterparties.

(f) At September 30, 2011 and December 31, 2010, NextEra Energy's balances reflect the netting of approximately $99 million and $72 million (none at FPL), respectively, in margin cash collateral provided to counterparties.

(g) Included in noncurrent other liabilities on FPL's condensed consolidated balance sheets.

Fair values of derivatives designated and not 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.

	September 30, 2011				December 31, 2010
	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
	(millions)
Interest rate swaps:
Current derivative assets	$	19	$	—	$	16	$	—
Current derivative liabilities	—		58		—		64
Noncurrent derivative assets	12		—		91		—
Noncurrent derivative liabilities	—		249		—		59
Foreign currency swaps:
Current derivative assets	—		—		24		—
Current derivative liabilities	—		2		—		4
Noncurrent derivative assets	—		—		11		—
Noncurrent derivative liabilities	—		6		—		—
Total	$	31	$	315	$	142	$	127

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.

	September 30, 2011										December 31, 2010
	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	$	667	$	316	$	6	(a)	$	—		$	754	$	278	$	9	(a)	$	1	(a)
Current derivative liabilities	1,815		2,412		4			273			1,848		2,339		12			257
Noncurrent derivative assets	651		133		2		(b)	—			687		157		1		(b)	—
Noncurrent derivative liabilities	747		1,045		—			27		(c)	828		1,084		—			—
Foreign currency swap:
Current derivative assets	—		—		—			—			13		—		—			—
Current derivative liabilities	—		2		—			—			—		—		—			—
Noncurrent derivative assets	23		—		—			—			—		—		—			—
Total	$	3,903	$	3,908	$	12		$	300		$	4,130	$	3,858	$	22		$	258

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

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

(c) Included in noncurrent other liabilities on FPL's condensed consolidated balance sheets.

Gains (losses) recorded in condensed consolidated financial statements

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

	Three Months Ended September 30,
	2011														2010
	Commodity Contracts			Interest Rate Swaps				Foreign Currency Swaps				Total			Commodity Contracts			Interest Rate Swaps				Foreign Currency Swaps			Total
	(millions)
Gains (losses) recognized in OCI	$	—		$	(236	)		$	(14	)		$	(250	)	$	—		$	(76	)		$	5		$	(71	)
Gains (losses) reclassified from AOCI to net income	$	11	(a)	$	(21	)	(b)	$	5		(c)	$	(5	)	$	25	(a)	$	(23	)	(b)	$	8	(c)	$	10

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(a) Included in operating revenues.

(b) Included in interest expense.

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

	Nine Months Ended September 30,
	2011														2010
	Commodity Contracts			Interest Rate Swaps				Foreign Currency Swaps				Total			Commodity Contracts			Interest Rate Swaps				Foreign Currency Swaps			Total
	(millions)
Gains (losses) recognized in OCI	$	—		$	(353	)		$	(20	)		$	(373	)	$	19		$	(181	)		$	9		$	(153	)
Gains (losses) reclassified from AOCI to net income	$	30	(a)	$	(64	)	(b)	$	1		(c)	$	(33	)	$	93	(a)	$	(50	)	(b)	$	14	(d)	$	57
Gains (losses) recognized in income(e)	$	—		$	—			$	—			$	—		$	1	(a)	$	—			$	—		$	1

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(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) Loss of approximately $2 million is included in interest expense and the balance is included in other - net.

(e) Represents the ineffective portion of the hedging instrument.

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

	Three Months Ended September 30,								Nine Months Ended September 30,
	2011				2010				2011				2010
	(millions)
Commodity contracts:
Operating revenues	$	(50	)	(a)	$	354		(a)	$	(48	)	(a)	$	615		(a)
Fuel, purchased power and interchange	10				(104		)		8				(10		)
Foreign currency swap - Other - net	23				8				20				13
Interest rate contracts - Other - net	(16		)		—				(11		)		—
Total	$	(33	)		$	258			$	(31	)		$	618

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(a) In addition, for the three and nine months ended September 30, 2011, FPL recorded approximately $232 million and $300 million of losses, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets.  For the three and nine months ended September 30, 2010, FPL recorded approximately $306 million and $698 million of losses, respectively, related to commodity contracts as regulatory assets on its condensed consolidated balance sheets.

Net notional volumes

At September 30, 2011, NextEra Energy and FPL had derivative commodity contracts for the following net notional volumes:

Commodity Type	NextEra Energy			FPL
	(millions)
Power	(115	)	mwh(a)	—
Natural gas	1,183		mmbtu(b)	855	mmbtu(b)
Oil	(2	)	barrels	—

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(a) Megawatt-hours

(b) One million British thermal units