Long-term debt consists of the following:



		December 31,
		2014					2013
	Maturity Date	Balance			Weighted- Average Interest Rate		Balance			Weighted- Average Interest Rate
		(millions)					(millions)
FPL:
First mortgage bonds - fixed	2017 - 2044	$	8,490		4.95	%	$	7,490		5.12	%
Storm-recovery bonds - fixed^(a)	2017 - 2021	331			5.24	%	386			5.22	%
Pollution control, solid waste disposal and industrial development revenue bonds - variable^(b)(c)	2020 - 2029	633			0.05	%	633			0.07	%
Other long-term debt - variable^(c)	2014	—					300			0.66	%
Other long-term debt - fixed	2014 - 2040	55			4.96	%	55			4.96	%
Unamortized discount		(36		)			(35		)
Total long-term debt of FPL		9,473					8,829
Less current maturities of long-term debt		60					356
Long-term debt of FPL, excluding current maturities		9,413					8,473
NEECH:
Debentures - fixed^(d)	2015 - 2023	3,125			3.87	%	2,550			4.43	%
Debentures, related to NEE's equity units - fixed	2014 - 2018	2,152			1.54	%	2,503			1.55	%
Junior subordinated debentures - fixed	2044 - 2073	2,978			5.84	%	3,353			6.16	%
Senior secured bonds - fixed^(e)	2030	500			7.50	%	500			7.50	%
Japanese yen denominated senior notes - fixed^(d)	2030	83			5.13	%	95			5.13	%
Japanese yen denominated term loans - variable^(c)(d)	2014 - 2017	459			1.83	%	419			1.45	%
Other long-term debt - fixed	2016 - 2044	510			2.70	%	150			0.86	%
Other long-term debt - variable^(c)	2014 - 2019	716			2.44	%	1,665			1.27	%
Fair value hedge adjustment (see Note 3)		20					4
Unamortized discount		(1		)			—
Total long-term debt of NEECH		10,542					11,239
Less current maturities of long-term debt		1,787					1,469
Long-term debt of NEECH, excluding current maturities		8,755					9,770
NEER:
Senior secured limited-recourse bonds and notes - fixed	2017 - 2038	2,273			6.02	%	2,523			5.84	%
Senior secured limited-recourse term loans - primarily variable^(c)(d)	2015 - 2032	4,242			3.12	%	3,874			3.18	%
Other long-term debt - primarily variable^(c)(d)(f)	2015 - 2030	656			3.71	%	808			3.48	%
Canadian revolving credit facilities - variable^(c)	2014 - 2016	704			2.33	%	472			2.33	%
Unamortized discount		(8		)			(10		)
Total long-term debt of NEER		7,867					7,667
Less current maturities of long-term debt^(f)		1,668					1,941
Long-term debt of NEER, excluding current maturities		6,199					5,726
Total long-term debt		$	24,367				$	23,969

______________________


(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, 2014, 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 except for in 2014 approximately $983 million and in 2013 approximately $1.1 billion of NEER's senior secured limited-recourse term loans is based on the greater of an underlying index or a floor, plus a margin.


(d)	Interest rate contracts, primarily swaps, have been entered into for the majority of these debt issuances. See Note 3.


(e)	Issued by a wholly-owned subsidiary of NEECH and collateralized by a third-party note receivable held by that subsidiary. See Note 4 - Fair Value of Financial Instruments Recorded at the Carrying Amount.


(f)	See Note 13 - Spain Solar Projects for discussion of events of default related to debt associated with the Spain solar projects.