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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative [Line Items]  
Schedule of derivative instruments in statement of financial position, fair value
Fair Value of Derivative Instruments - The tables below present NEE's and FPL's gross derivative positions at December 31, 2017 and December 31, 2016, as required by disclosure rules. However, the majority of the underlying contracts are subject to master netting agreements and generally would not be contractually settled on a gross basis. Therefore, the tables below also present the derivative positions on a net basis, which reflect the offsetting of positions of certain transactions within the portfolio, the contractual ability to settle contracts under master netting arrangements and the netting of margin cash collateral (see Note 4 - Recurring Fair Value Measurements for netting information), as well as the location of the net derivative position on the consolidated balance sheets.
 
December 31, 2017
 
Gross Basis
 
Net Basis
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(millions)
NEE:
 
 
 
 
 
 
 
Commodity contracts
$
3,962


$
2,792

 
$
1,737


$
567

Interest rate contracts
50


275

 
55


280

Foreign currency contracts
—


40

 
12


52

Total fair values
$
4,012


$
3,107

 
$
1,804


$
899

 
 
 
 
 



FPL:
 
 
 
 



Commodity contracts
$
3


$
3

 
$
2


$
2

 
 
 
 
 
 
 
 
Net fair value by NEE balance sheet line item:
 
 
 
 
 
 
 
Current derivative assets(a)
 
 
 
 
$
489



Noncurrent derivative assets
 
 
 
 
1,315



Current derivative liabilities
 
 
 
 



$
364

Noncurrent derivative liabilities(b)
 
 
 
 



535

Total derivatives
 
 
 
 
$
1,804


$
899

 
 
 
 
 
 
 
 
Net fair value by FPL balance sheet line item:
 
 
 
 
 
 
 
Current derivative assets
 
 
 
 
$
2



Current other liabilities
 
 
 
 


$
2

Total derivatives
 
 
 
 
$
2


$
2

______________________
(a)
Reflects the netting of approximately $39 million in margin cash collateral received from counterparties.
(b)
Reflects the netting of approximately $39 million in margin cash collateral paid to counterparties.

 
December 31, 2016
 
Gross Basis
 
Net Basis
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(millions)
NEE:
 
 
 
 
 
 
 
Commodity contracts
$
4,590

 
$
2,968

 
$
1,938

 
$
483

Interest rate contracts
288

 
284

 
296

 
292

Foreign currency contracts
1

 
106

 
1

 
106

Total fair values
$
4,879

 
$
3,358

 
$
2,235

 
$
881

 
 
 
 
 
 
 
 
FPL:
 
 
 
 
 
 
 
Commodity contracts
$
212

 
$
4

 
$
209

 
$
1

 
 
 
 
 
 
 
 
Net fair value by NEE balance sheet line item:
 
 
 
 
 
 
 
Current derivative assets(a)
 
 
 
 
$
885

 
 
Noncurrent derivative assets(b)
 
 
 
 
1,350

 
 
Current derivative liabilities
 
 
 
 
 
 
$
404

Noncurrent derivative liabilities
 
 
 
 
 
 
477

Total derivatives
 
 
 
 
$
2,235

 
$
881

 
 
 
 
 
 
 
 
Net fair value by FPL balance sheet line item:
 
 
 
 
 
 
 
Current derivative assets
 
 
 
 
$
209

 
 
Current other liabilities
 
 
 
 
 
 
$
1

Total derivatives
 
 
 
 
$
209

 
$
1

______________________
(a)
Reflects the netting of approximately $96 million in margin cash collateral received from counterparties.
(b)
Reflects the netting of approximately $71 million in margin cash collateral received from counterparties.
Net notional volumes
NEE and FPL had derivative commodity contracts for the following net notional volumes:
 
 
December 31, 2017
 
December 31, 2016
Commodity Type
 
NEE
 
FPL
 
NEE
 
FPL
 
 
(millions)
Power
 
(109
)
 
MWh(a)
 
—

 
 
 
(84
)
 
MWh(a)
 
—

 
 
Natural gas
 
(74
)
 
MMBtu(b)
 
142

 
MMBtu(b)
 
1,002

 
MMBtu(b)
 
618

 
MMBtu(b)
Oil
 
(15
)
 
barrels
 
—

 
 
 
(7
)
 
barrels
 
—

 
 
______________________
(a)
Megawatt-hours
(b)
One million British thermal units
Not Designated as Hedging Instrument [Member]  
Derivative [Line Items]  
Derivative instruments, gain (loss) in statement of financial performance
Gains (losses) related to NEE's derivatives not designated as hedging instruments are recorded in NEE's consolidated statements of income as follows:
 
Years Ended December 31,
 
2017
 
2016
 
2015
 
(millions)
Commodity contracts:(a)
 
 
 
 
 
Operating revenues
$
454

 
$
459

 
$
932

Fuel, purchased power and interchange
—


(1
)

8

Foreign currency contracts - interest expense
55

 
14

 
—

Foreign currency contracts - other - net
(4
)
 
(1
)
 
—

Interest rate contracts - interest expense
(223
)
 
181

 
8

Losses reclassified from AOCI to interest expense:
 
 
 
 
 
Interest rate contracts
(48
)
 
(90
)
 
—

Foreign currency contracts
(81
)
 
(11
)
 
—

Total
$
153

 
$
551

 
$
948

______________________
(a)
For the years ended December 31, 2017, 2016 and 2015, FPL recorded gains (losses) of approximately $(169) million, $203 million and $(326) million, respectively, related to commodity contracts as regulatory liabilities (assets) on its consolidated balance sheets.
Cash Flow Hedging [Member]  
Derivative [Line Items]  
Derivative instruments, gain (loss) in statement of financial performance
Income Statement Impact of Derivative Instruments - Losses related to NEE's cash flow hedges, which were previously designated as hedging instruments, are recorded in NEE's consolidated financial statements (none at FPL) as follows:
 
Year Ended  
 December 31, 2015
 
Interest
Rate
Contracts
 
Foreign
Currency
Contracts
 
Total
 
 
Losses recognized in OCI
$
(113
)
 
$
(12
)
 
$
(125
)
Losses reclassified from AOCI to net income
$
(73
)
(a) 
$
(15
)
(b) 
$
(88
)
______________________
(a)
Included in interest expense.
(b)
For 2015, losses of approximately $11 million are included in interest expense and the balances are included in other - net.