Segment Information

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

The tables below present information for NEE's and FPL's segments. NEE's segments include its reportable segments, the FPL segment, a rate-regulated utility business, and NEER, which is comprised of competitive energy and rate-regulated transmission businesses, as well as an operating segment of NEE, Gulf Power, a rate-regulated utility business. FPL's reportable segments include the FPL segment and Gulf Power. See Note 5 - Merger of FPL and Gulf Power Company. Corporate and Other for each of NEE and FPL represents other business activities, such as purchase accounting adjustments for Gulf Power Company, and includes eliminating entries.

NEE's segment information is as follows:

	Three Months Ended March 31,
	2021											2020
	FPL Seg-ment		Gulf Power		NEER(a)			Corporate and Other		NEE Consoli- dated		FPL Seg-ment		Gulf Power		NEER(a)			Corporate and Other		NEE Consoli- dated
										(millions)
Operating revenues	$	2,623	$	347	$	781		$	(25)	$	3,726	$	2,540	$	328	$	1,773		$	(28)	$	4,613
Operating expenses - net	$	1,580	$	276	$	1,172		$	43	$	3,071	$	1,625	$	270	$	980		$	30	$	2,905
Net income (loss) attributable to NEE	$	720	$	57	$	491	(b)	$	398	$	1,666	$	642	$	40	$	318	(b)	$	(579)	$	421

———————————————

(a)Interest expense allocated from NEECH is based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual NEECH corporate interest expense is included in Corporate and Other.

(b)See Note 4 for a discussion of NEER's tax benefits related to PTCs.

	March 31, 2021										December 31, 2020
	FPL Segment		Gulf Power		NEER		Corporate and Other		NEE Consoli- dated		FPL Segment		Gulf Power		NEER		Corporate and Other		NEE Consoli- dated
									(millions)
Total assets	$	62,708	$	6,732	$	59,318	$	3,683	$	132,441	$	61,610	$	6,725	$	55,633	$	3,716	$	127,684

FPL's segment information is as follows:

	Three Months Ended March 31,
	2021								2020
	FPL Segment		Gulf Power		Corporate and Other		FPL Consoli- dated		FPL Segment		Gulf Power		Corporate and Other		FPL Consoli- dated
							(millions)
Operating revenues	$	2,623	$	347	$	—	$	2,970	$	2,540	$	328	$	—	$	2,868
Operating expenses - net	$	1,580	$	276	$	—	$	1,856	$	1,625	$	270	$	(1)	$	1,894
Net income	$	720	$	57	$	—	$	777	$	642	$	40	$	—	$	682