Investments in Partnerships and Joint Ventures

12 Months Ended

Dec. 31, 2012

Investments in Partnerships and Joint Ventures [Abstract]

Investments in Partnerships and Joint Ventures

9.  Investments in Partnerships and Joint Ventures

NEER- NEER has non-controlling non-majority owned interests in various partnerships and joint ventures, essentially all of which own electric generating facilities.  At December 31, 2012 and 2011, NEER's investments in partnerships and joint ventures totaled approximately $243 million and $193 million, respectively, which is included in other investments on NEE's consolidated balance sheets.  NEER's interest in these partnerships and joint ventures range from approximately 20% to 50%.  At December 31, 2012, the principal entities included in NEER's investments in partnerships and joint ventures were Northeast Energy, LP, Desert Sunlight Investment Holdings, LLC, Evacuacion Valdecaballeros, SL, Luz Solar Partners Ltd., V, Luz Solar Partners Ltd., III, and in 2011 also included Mojave 3/4/5 LLC.

Summarized combined information for these principal entities is as follows:

	2012		2011
	(millions)
Net income	$	27	$	72
Total assets	$	1,512	$	873
Total liabilities	$	1,053	$	508
Partners'/members' equity	$	459	$	365
NEER's share of underlying equity in the principal entities	$	223	$	182
Difference between investment carrying amount and underlying equity in net assets(a)	1		(19		)
NEER's investment carrying amount for the principal entities	$	224	$	163

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(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 NEER provide services to the partnerships and joint ventures, including operations and maintenance and business management services.  NEE's operating revenues for the years ended December 31, 2012, 2011 and 2010 include approximately $33 million, $26 million and $25 million, respectively, related to such services.  The net receivables at December 31, 2012 and 2011, for these services, as well as for affiliate energy commodity transactions, payroll and other payments made on behalf of these investees, were approximately $11 million and $19 million, respectively, and are included in other receivables on NEE's consolidated balance sheets.

NEE - In 2004, a trust created by NEE sold $300 million of 5 7/8% preferred trust securities to the public and $9 million of common trust securities to NEE.  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 NEECH.  NEE has fully and unconditionally guaranteed the preferred trust securities and the junior subordinated debentures.