Long-term debt consists of the following:



	December 31,
	2012			2011
	(millions)
FPL:
First mortgage bonds - maturing 2013 through 2042 - 3.80% to 6.20%	$	7,390		$	6,390
Storm-recovery bonds - maturing 2013 through 2021 - 5.0440% to 5.2555%^(a)	439			487
Pollution control, solid waste disposal and industrial development revenue bonds - maturing 2020 through 2029 - variable, 0.16% and 0.10% weighted-average interest rates, respectively^(b)(c)	633			633
Other long-term debt maturing 2013 through 2040 - primarily variable, 0.66% weighted-average interest rate for 2012^(c)	355			57
Unamortized discount	(35		)	(34		)
Total long-term debt of FPL	8,782			7,533
Less current maturities of long-term debt	453			50
Long-term debt of FPL, excluding current maturities	8,329			7,483
NEECH:
Debentures - maturing 2013 through 2021 - 1.2% to 7.88%^(d)	2,800			2,300
Debentures - matured 2012 - variable, 0.77% weighted-average interest rate^(c)	—			200
Debentures, related to NEE's equity units - maturing 2014 through 2017 - 1.60% to 1.90%^(e)	2,003			753
Junior subordinated debentures - maturing 2044 through 2072 - 5.125% to 8.75%	3,253			2,353
Senior secured bonds - maturing 2030 - 7.500%^(f)	500			500
Japanese yen denominated senior notes - maturing 2030 - 5.1325%^(d)	115			130
Japanese yen denominated term loans - maturing 2014 - variable, 1.56% and 1.92% weighted-average interest rate, respectively^(c)(d)	508			442
Term loans - maturing 2013 through 2016 - primarily variable, 1.30% and 1.39% weighted-average interest rate, respectively^(c)	1,563			1,533
Fair value swaps (see Note 3)	75			32
Unamortized discount	—			(6		)
Total long-term debt of NEECH	10,817			8,237
Less current maturities of long-term debt	1,575			350
Long-term debt of NEECH, excluding current maturities	9,242			7,887
NEER:
Senior secured limited-recourse bonds and notes - maturing 2013 through 2038 - 4.125% to 7.59%	2,483			3,147
Senior secured limited-recourse term loans - maturing 2015 through 2030 - primarily variable, 2.77% and 2.88% weighted-average interest rate, respectively^(c)(d)	2,617			2,184
Other long-term debt - maturing 2014 through 2030 - primarily variable, 2.83% and 3.94% weighted-average interest rate, respectively^(c)	836			345
Canadian revolving credit facilities - maturing 2013 and 2014 - variable, 2.33% and 1.29% weighted-average interest rate, respectively^(c)	413			172
Total long-term debt of NEER	6,349			5,848
Less current maturities of long-term debt	743			408
Long-term debt of NEER, excluding current maturities	5,606			5,440
Total long-term debt	$	23,177		$	20,810

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(a)	Principal on the storm-recovery bonds is due on the final maturity date (the date by which the principal must be repaid to prevent a default) for each tranche, however, it is being paid semiannually and sequentially.

(b)

Tax exempt bonds that permit individual bond holders to tender the bonds for purchase at any time prior to maturity. In the event bonds are tendered for purchase, they would be remarketed by a designated remarketing agent in accordance with the related indenture. If the remarketing is unsuccessful, FPL would be required to purchase the tax exempt bonds. As of December 31, 2012, all tax exempt bonds tendered for purchase have been successfully remarketed. FPL's bank revolving line of credit facilities are available to support the purchase of tax exempt bonds.


(c)	Variable rate is based on an underlying index plus a margin.


(d)	Interest rate swap agreements have been entered into for the majority of these debt issuances. See Note 3.


(e)	During 2012, the debentures maturing in 2014 and bearing interest at the rate of 1.90% were remarketed and the interest rate was reset to 1.611% per year. See discussion below.


(f)	Issued by a wholly-owned subsidiary of NEECH and collateralized by a third-party note receivable held by that subsidiary. See Note 5.