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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) $ 4,349 $ 420
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,315 2,043
Nuclear fuel and other amortization 129 144
Unrealized losses (gains) on marked to market derivative contracts – net (2,203) 1,897
Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds – net (88) 428
Foreign currency transaction losses (gains) 81 (104)
Deferred income taxes 630 (97)
Cost recovery clauses and franchise fees 671 (476)
Equity in losses (earnings) of equity method investees (233) 16
Distributions of earnings from equity method investees 358 271
Gains on disposal of businesses, assets and investments – net (101) (58)
Recoverable storm-related costs (353) (3)
Other – net 12 (88)
Changes in operating assets and liabilities:    
Current assets 579 (1,198)
Noncurrent assets (190) (9)
Current liabilities (1,207) 1,557
Noncurrent liabilities 10 50
Net cash provided by operating activities 4,759 4,793
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures of FPL (4,664) (4,007)
Independent power and other investments of NEER (8,249) (4,939)
Nuclear fuel purchases (111) (67)
Other capital expenditures (23) (451)
Sale of independent power and other investments of NEER 1,001 271
Proceeds from sale or maturity of securities in special use funds 2,029 2,039
Purchases of securities in special use funds (2,929) (2,239)
Other – net 132 85
Net cash used in investing activities (12,814) (9,308)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuances of long-term debt, including premiums and discounts 9,978 9,615
Retirements of long-term debt (4,959) (1,544)
Net change in commercial paper 577 (371)
Proceeds from other short-term debt 1,925 1,725
Repayments of other short-term debt (238) (525)
Payments from (to) related parties under a cash sweep and credit support agreement – net (255) 499
Issuances of common stock/equity units – net 2,503 1
Dividends (1,876) (1,671)
Other – net (287) (34)
Net cash provided by financing activities 7,368 7,695
Effects of currency translation on cash, cash equivalents and restricted cash 0 (3)
Net increase (decrease) in cash, cash equivalents and restricted cash (687) 3,177
Cash, cash equivalents and restricted cash at beginning of period 3,441 1,316
Cash, cash equivalents and restricted cash at end of period 2,754 4,493
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (net of amount capitalized) 1,151 666
Cash paid (received) for income taxes – net 138 (39)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued property additions 6,019 5,443
Decrease in property, plant and equipment – net and contract liabilities (2023 activity, see Note 11) 81 551
Florida Power & Light Company    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) [1] 2,223 1,864
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,319 1,177
Nuclear fuel and other amortization 73 91
Deferred income taxes 82 406
Cost recovery clauses and franchise fees 671 (476)
Recoverable storm-related costs (353) (3)
Other – net 20 (3)
Changes in operating assets and liabilities:    
Current assets (163) (534)
Noncurrent assets (97) (2)
Current liabilities 402 638
Noncurrent liabilities 13 44
Net cash provided by operating activities 4,190 3,202
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (4,664) (4,007)
Nuclear fuel purchases (68) (44)
Proceeds from sale or maturity of securities in special use funds 1,411 1,183
Purchases of securities in special use funds (1,377) (1,245)
Other – net 21 (18)
Net cash used in investing activities (4,677) (4,131)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuances of long-term debt, including premiums and discounts 5,478 2,942
Retirements of long-term debt (1,548) (100)
Net change in commercial paper (1,264) (1,382)
Capital contributions from NEE 0 1,500
Dividends (2,065) (2,000)
Other – net (68) (33)
Net cash provided by financing activities 533 927
Net increase (decrease) in cash, cash equivalents and restricted cash 46 (2)
Cash, cash equivalents and restricted cash at beginning of period 58 108
Cash, cash equivalents and restricted cash at end of period 104 106
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (net of amount capitalized) 456 324
Cash paid (received) for income taxes – net 118 59
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued property additions $ 766 $ 849
[1] FPL's comprehensive income is the same as reported net income.