Segment Information

12 Months Ended

Dec. 31, 2012

Segment Information [Abstract]

Segment Information

14.  Segment Information

NEE's reportable segments are FPL, a rate-regulated electric utility, and NEER, a competitive energy business.  NEER's segment information includes an allocation of interest expense from NEECH based on a deemed capital structure of 70% debt and allocated shared service costs.  Corporate and Other represents other business activities, other segments that are not separately reportable and eliminating entries.  NEE's operating revenues derived from the sale of electricity represented approximately 93%, 95% and 95% of NEE's operating revenues for the years ended December 31, 2012, 2011 and 2010.  Less than 1% of operating revenues were from foreign sources for each of the three years ended December 31, 2012, 2011 and 2010.  At December 31, 2012 and 2011, approximately 4% and 2%, respectively, of long-lived assets were located in foreign countries.

NEE's segment information is as follows:

	2012										2011										2010
	FPL		NEER(a)			Corp. and Other			Total		FPL		NEER(a)			Corp. and Other			Total		FPL		NEER(a)			Corp. and Other			Total
											(millions)
Operating revenues	$	10,114	$	3,895		$	247		$	14,256	$	10,613	$	4,502		$	226		$	15,341	$	10,485	$	4,636		$	196		$	15,317
Operating expenses(b)(c)	$	7,757	$	3,024		$	199		$	10,980	$	8,537	$	3,351		$	192		$	12,080	$	8,636	$	3,302		$	152		$	12,090
Interest expense	$	417	$	474		$	147		$	1,038	$	387	$	530		$	118		$	1,035	$	361	$	515		$	103		$	979
Interest income	$	6	$	20		$	60		$	86	$	3	$	23		$	53		$	79	$	—	$	21		$	70		$	91
Depreciation and amortization	$	659	$	818		$	41		$	1,518	$	798	$	736		$	33		$	1,567	$	1,008	$	759		$	21		$	1,788
Equity in earnings of equity method investees	$	—	$	19		$	(6	)	$	13	$	—	$	55		$	—		$	55	$	—	$	58		$	—		$	58
Income tax expense (benefit)(d)(e)	$	752	$	(7	)	$	(53	)	$	692	$	654	$	(24	)	$	(101	)	$	529	$	580	$	(11	)	$	(37	)	$	532
Net income (loss)(c)(f)	$	1,240	$	687		$	(16	)	$	1,911	$	1,068	$	774		$	81		$	1,923	$	945	$	980		$	32		$	1,957
Capital expenditures, independent power and other investments and nuclear fuel purchases	$	4,285	$	4,681		$	495		$	9,461	$	3,502	$	2,774		$	352		$	6,628	$	2,706	$	3,072		$	68		$	5,846
Property, plant and equipment	$	38,249	$	25,333		$	1,335		$	64,917	$	35,170	$	21,482		$	900		$	57,552	$	32,423	$	21,304		$	494		$	54,221
Accumulated depreciation and amortization	$	10,698	$	4,535		$	271		$	15,504	$	10,916	$	3,914		$	232		$	15,062	$	10,871	$	4,073		$	202		$	15,146
Total assets(g)	$	34,853	$	27,139		$	2,447		$	64,439	$	31,816	$	23,459		$	1,913		$	57,188	$	28,698	$	22,389		$	1,907		$	52,994
Investment in equity method investees	$	—	$	243		$	19		$	262	$	—	$	193		$	9		$	202	$	—	$	217		$	10		$	227

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(a) Interest expense allocated from NEECH is based on a deemed capital structure of 70% debt.  For this purpose, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual non-utility interest expense is included in Corporate and Other.

(b) Prior year amounts are restated to conform to the current year's presentation. See Note 1 - Basis of Presentation and Note 1 - Sale of Differential Membership Interests.

(c) In 2011, NEER includes impairment charges of approximately $51 million ($31 million after-tax).  See Note 4 - Nonrecurring Fair Value Measurements.

(d) NEER includes PTCs that were recognized based on its tax sharing agreement with NEE. See Note 1 - Income Taxes.

(e) In 2011, Corporate and Other includes state deferred income tax benefits of approximately $64 million, net of federal income taxes, related to state tax law changes and an income tax benefit of $41 million related to the dissolution of a subsidiary.

(f) In 2011, NEER and Corporate and Other include an after-tax loss on sale of natural gas-fired generating assets of $92 million and $6 million, respectively.  See Note 4 - Nonrecurring Fair Value Measurements.

(g) In 2012, NEER includes assets held for sale of approximately $335 million. See Note 1 - Assets and Liabilities Associated with Assets Held for Sale.