Summary of Significant Accounting and Reporting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Regulatory Assets

NEE's and FPL's regulatory assets and liabilities are as follows:

	NEE				FPL
	December 31,				December 31,
	2023		2022		2023		2022
	(millions)
Regulatory assets:
Current:
Early retirement of generation facilities and transmission assets(a)	$	160	$	145	$	160	$	145
Deferred clause and franchise expenses(b)	1,014		919		1,014		919
Storm restoration costs(c)	35		911		35		911
Other	251		190		222		180
Total	$	1,460	$	2,165	$	1,431	$	2,155
Noncurrent:
Early retirement of generation facilities and transmission assets(a)	$	2,166	$	2,026	$	2,166	$	2,026
Deferred clause expenses(b)	6		1,227		6		1,227
Storm restoration costs(c)	—		326		—		326
Accrued asset removal costs(d)	1,021		532		1,021		532
Other	1,608		1,881		1,150		1,373
Total	$	4,801	$	5,992	$	4,343	$	5,484
Regulatory liabilities:
Current:
Deferred clause revenues	$	330	$	339	$	330	$	339
Other	10		11		5		10
Total	$	340	$	350	$	335	$	349
Noncurrent:
Asset retirement obligation regulatory expense difference	$	4,066	$	3,323	$	4,066	$	3,323
Accrued asset removal costs(d)	701		658		660		623
Deferred taxes	3,890		4,233		3,786		4,129
Other	1,392		1,412		1,381		1,383
Total	$	10,049	$	9,626	$	9,893	$	9,458

______________________

(a)The majority of these regulatory assets are being amortized over 20 years.

(b)The majority of these regulatory assets are being amortized over a 21-month period that began April 2023.

(c)The majority of these regulatory assets are being amortized over a 12-month period that began April 2023. See Storm Funds, Storm Reserves and Storm Cost Recovery below.

(d)See Electric Plant, Depreciation and Amortization below.

Schedule of Regulatory Liabilities

NEE's and FPL's regulatory assets and liabilities are as follows:

	NEE				FPL
	December 31,				December 31,
	2023		2022		2023		2022
	(millions)
Regulatory assets:
Current:
Early retirement of generation facilities and transmission assets(a)	$	160	$	145	$	160	$	145
Deferred clause and franchise expenses(b)	1,014		919		1,014		919
Storm restoration costs(c)	35		911		35		911
Other	251		190		222		180
Total	$	1,460	$	2,165	$	1,431	$	2,155
Noncurrent:
Early retirement of generation facilities and transmission assets(a)	$	2,166	$	2,026	$	2,166	$	2,026
Deferred clause expenses(b)	6		1,227		6		1,227
Storm restoration costs(c)	—		326		—		326
Accrued asset removal costs(d)	1,021		532		1,021		532
Other	1,608		1,881		1,150		1,373
Total	$	4,801	$	5,992	$	4,343	$	5,484
Regulatory liabilities:
Current:
Deferred clause revenues	$	330	$	339	$	330	$	339
Other	10		11		5		10
Total	$	340	$	350	$	335	$	349
Noncurrent:
Asset retirement obligation regulatory expense difference	$	4,066	$	3,323	$	4,066	$	3,323
Accrued asset removal costs(d)	701		658		660		623
Deferred taxes	3,890		4,233		3,786		4,129
Other	1,392		1,412		1,381		1,383
Total	$	10,049	$	9,626	$	9,893	$	9,458

______________________

(a)The majority of these regulatory assets are being amortized over 20 years.

(b)The majority of these regulatory assets are being amortized over a 21-month period that began April 2023.

(c)The majority of these regulatory assets are being amortized over a 12-month period that began April 2023. See Storm Funds, Storm Reserves and Storm Cost Recovery below.

(d)See Electric Plant, Depreciation and Amortization below.

Schedule of Goodwill and Other Intangible Assets

NEE's goodwill and other intangible assets are as follows:

	Weighted- Average Useful Lives	December 31,
		2023		2022
	(years)	(millions)
Goodwill (by reporting unit):
FPL segment, primarily rate-regulated utilities		$	2,965	$	2,989
NEER segment:
Rate-regulated assets, primarily transmission		1,218		1,218
Gas infrastructure		487		487
Clean energy assets (see Note 6)		315		54
Customer supply		95		95
Corporate and Other		11		11
Total goodwill		$	5,091	$	4,854
Other intangible assets not subject to amortization, primarily land easements		$	136	$	136
Other intangible assets subject to amortization:
Purchased power agreements (see Note 6)	10	$	988	$	549
Biogas rights agreements (see Note 6)	30	531		—
Other, primarily transportation contracts and customer lists	24	187		173
Total		1,706		722
Accumulated amortization		(150)		(99)
Total other intangible assets subject to amortization – net		$	1,556	$	623