Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Long-term Purchase Commitment [Table Text Block]

The required capacity and/or minimum payments under the contracts discussed above as of December 31, 2015 were estimated as follows:

	2016		2017		2018		2019		2020		Thereafter
	(millions)
FPL:
Capacity charges(a)	$	185	$	170	$	140	$	120	$	110	$	690
Minimum charges, at projected prices:(b)
Natural gas, including transportation and storage(c)	$	1,020	$	930	$	870	$	865	$	920	$	13,050
Coal, including transportation	$	65	$	40	$	—	$	—	$	—	$	—
NEER	$	3,670	$	735	$	625	$	135	$	85	$	535
Corporate and Other(d)(e)	$	60	$	5	$	5	$	—	$	5	$	—

______________________

(a) Capacity charges under these contracts, substantially all of which are recoverable through the capacity clause, totaled approximately $434 million, $485 million and $487 million for the years ended December 31, 2015, 2014 and 2013, respectively. Energy charges under these contracts, which are recoverable through the fuel clause, totaled approximately $262 million, $299 million and $263 million for the years ended December 31, 2015, 2014 and 2013, respectively.

(b) Recoverable through the fuel clause.

(c) Includes approximately $200 million, $295 million, $290 million, $360 million and $7,885 million in 2017, 2018, 2019, 2020 and thereafter, respectively, of firm commitments, subject to certain conditions as noted above, related to the natural gas transportation agreements with Sabal Trail and Florida Southeast Connection.

(d) Includes an approximately $35 million commitment to invest in clean power and technology businesses through 2021.

(e) Excludes approximately $1,115 million, in 2016, of joint obligations of NEECH and NEER which are included in the NEER amounts above.

Debt Issuances and Borrowings by Subsidiaries

Long-term debt consists of the following:

		December 31,
		2015						2014
	Maturity Date	Balance				Weighted- Average Interest Rate		Balance				Weighted- Average Interest Rate
		(millions)						(millions)
FPL:
First mortgage bonds - fixed	2017 - 2044	$	8,690			4.77	%	$	8,490			4.95	%
Storm-recovery bonds - fixed(a)	2017 - 2021	273				5.26	%	331				5.24	%
Pollution control, solid waste disposal and industrial development revenue bonds - variable(b)(c)	2020 - 2045	718				0.04	%	633				0.05	%
Other long-term debt - variable(c)	2018	400				1.11	%	—
Other long-term debt - fixed	2014 - 2040	53				5.06	%	55				4.96	%
Unamortized debt issuance costs and discount		(114		)				(121		)	(d)
Total long-term debt of FPL		10,020						9,388
Less current maturities of long-term debt		64						60
Long-term debt of FPL, excluding current maturities		9,956						9,328
NEECH:
Debentures - fixed(e)	2015 - 2023	3,100				3.15	%	3,125				3.87	%
Debentures, related to NEE's equity units - fixed	2014 - 2020	1,200				1.98	%	2,152				1.54	%
Junior subordinated debentures - fixed	2044 - 2073	2,978				5.84	%	2,978				5.84	%
Senior secured bonds - fixed(f)	2030	497				7.50	%	500				7.50	%
Japanese yen denominated senior notes - fixed(e)	2030	83				5.13	%	83				5.13	%
Japanese yen denominated term loans - variable(c)(e)	2017	456				1.83	%	459				1.83	%
Other long-term debt - fixed	2016 - 2044	810				2.74	%	510				2.70	%
Other long-term debt - variable(c)	2014 - 2019	1,513				1.81	%	716				2.44	%
Fair value hedge adjustment		24						20
Unamortized debt issuance costs and discount		(94		)				(112		)	(d)
Total long-term debt of NEECH		10,567						10,431
Less current maturities of long-term debt		667						1,787
Long-term debt of NEECH, excluding current maturities		9,900						8,644
NEER:
Senior secured limited-recourse bonds and notes - fixed	2017 - 2038	2,203				5.88	%	2,273				6.02	%
Senior secured limited-recourse term loans - primarily variable(c)(e)	2015 - 2035	3,969			(g)	2.51	%	4,242				3.12	%
Other long-term debt - primarily variable(c)(e)	2015 - 2035	2,118				2.80	%	656				3.71	%
Canadian revolving credit facilities - variable(c)	2015 - 2016	155				1.56	%	704				2.33	%
Unamortized debt issuance costs and discount		(131		)				(135		)	(d)
Total long-term debt of NEER		8,314						7,740
Less current maturities of long-term debt(h)		1,489						1,668
Long-term debt of NEER, excluding current maturities		6,825						6,072
Total long-term debt		$	26,681					$	24,044

______________________

(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, 2015, 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 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) Debt issuance costs were reclassified from noncurrent other assets to long-term debt to reflect the retrospective adoption of an accounting standard update. See Note 1 - Debt Issuance Costs.

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

(f) 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.

(g) Excludes debt totaling $938 million reflected in liabilities associated with assets held for sale on NEE's consolidated balance sheet. See Note 1 - Assets and Liabilities Associated with Assets Held for Sale.

(h) See Note 14 - Spain Solar Projects for discussion of events of default related to debt associated with the Spain solar projects.