Equity (Tables)

6 Months Ended

Jun. 30, 2022

Reconciliation of basic and diluted earnings per share of common stock

Earnings Per Share – The reconciliation of NEE's basic and diluted earnings per share attributable to NEE is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(millions, except per share amounts)

Numerator – net income attributable to NEE	$	1,380	$	256	$	929	$	1,922



Denominator:
Weighted-average number of common shares outstanding – basic	1,965.2		1,962.4		1,964.9		1,962.0
Equity units, stock options, performance share awards and restricted stock(a)	7.7		7.9		8.3		8.6
Weighted-average number of common shares outstanding – assuming dilution	1,972.9		1,970.3		1,973.2		1,970.6
Earnings per share attributable to NEE:
Basic	$	0.70	$	0.13	$	0.47	$	0.98
Assuming dilution	$	0.70	$	0.13	$	0.47	$	0.98

———————————————

(a)Calculated using the treasury stock method. Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss) – The components of AOCI, net of tax, are as follows:


	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges			Net Unrealized Gains (Losses) on Available for Sale Securities			Defined Benefit Pension and Other Benefits Plans		Net Unrealized Gains (Losses) on Foreign Currency Translation		Other Comprehensive Income (Loss) Related to Equity Method Investees		Total
	(millions)
Three months ended June 30, 2022








Balances, March 31, 2022	$	18		$	(25)		$	25	$	(43)	$	5	$	(20)
Other comprehensive loss before reclassifications	—			(30)			—		(21)		—		(51)
Amounts reclassified from AOCI	1		(a)	2		(b)	—		—		—		3
Net other comprehensive income (loss)	1			(28)			—		(21)		—		(48)
Less other comprehensive loss attributable to noncontrolling interests	—			—			—		9		—		9
Balances, June 30, 2022	$	19		$	(53)		$	25	$	(55)	$	5	$	(59)
Attributable to noncontrolling interests	$	—		$	—		$	—	$	2	$	—	$	2


	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges			Net Unrealized Gains (Losses) on Available for Sale Securities			Defined Benefit Pension and Other Benefits Plans		Net Unrealized Gains (Losses) on Foreign Currency Translation		Other Comprehensive Income (Loss) Related to Equity Method Investees		Total
	(millions)
Six months ended June 30, 2022
Balances, December 31, 2021	$	14		$	5		$	25	$	(49)	$	5	$	—
Other comprehensive loss before reclassifications	—			(60)			—		(9)		—		(69)
Amounts reclassified from AOCI	5		(a)	2		(b)	—		—		—		7
Net other comprehensive income (loss)	5			(58)			—		(9)		—		(62)
Less other comprehensive loss attributable to noncontrolling interests	—			—			—		3		—		3
Balances, June 30, 2022	$	19		$	(53)		$	25	$	(55)	$	5	$	(59)
Attributable to noncontrolling interests	$	—		$	—		$	—	$	2	$	—	$	2

———————————————

(a)Reclassified to interest expense in NEE's condensed consolidated statements of income. See Note 2 – Income Statement Impact of Derivative Instruments.

(b)Reclassified to gains on disposal of investments and other property – net in NEE's condensed consolidated statements of income.


	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges			Net Unrealized Gains (Losses) on Available for Sale Securities			Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation		Other Comprehensive Income (Loss) Related to Equity Method Investees		Total
	(millions)
Three Months Ended June 30, 2021
Balances, March 31, 2021	$	10		$	9		$	(74)		$	(47)	$	4	$	(98)
Other comprehensive income before reclassifications	—			1			—			11		—		12
Amounts reclassified from AOCI	2		(a)	1		(b)	1		(c)	—		—		4
Net other comprehensive income	2			2			1			11		—		16
Less other comprehensive income attributable to noncontrolling interests	—			—			—			(3)		—		(3)
Balances, June 30, 2021	$	12		$	11		$	(73)		$	(39)	$	4	$	(85)
Attributable to noncontrolling interests	$	—		$	—		$	—		$	(13)	$	—	$	(13)


	Accumulated Other Comprehensive Income (Loss)
	Net Unrealized Gains (Losses) on Cash Flow Hedges			Net Unrealized Gains (Losses) on Available for Sale Securities			Defined Benefit Pension and Other Benefits Plans			Net Unrealized Gains (Losses) on Foreign Currency Translation		Other Comprehensive Income (Loss) Related to Equity Method Investees		Total
	(millions)
Six Months Ended June 30, 2021
Balances, December 31, 2020	$	8		$	20		$	(75)		$	(49)	$	4	$	(92)
Other comprehensive income (loss) before reclassifications	—			(7)			—			15		—		8
Amounts reclassified from AOCI	4		(a)	(2)		(b)	2		(c)	—		—		4
Net other comprehensive income (loss)	4			(9)			2			15		—		12
Less other comprehensive income attributable to noncontrolling interests	—			—			—			(5)		—		(5)
Balances, June 30, 2021	$	12		$	11		$	(73)		$	(39)	$	4	$	(85)
Attributable to noncontrolling interests	$	—		$	—		$	—		$	(13)	$	—	$	(13)

———————————————

(a)Reclassified to interest expense in NEE's condensed consolidated statements of income. See Note 2 – Income Statement Impact of Derivative Instruments.

(b)Reclassified to gains on disposal of investments and other property – net in NEE's condensed consolidated statements of income.

(c)Reclassified to other net periodic benefit income in NEE's condensed consolidated statements of income.