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Non-Derivative Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Financial assets and liabilities and other fair value measurements 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, as well as the location of the net derivative position on the consolidated balance sheets.
December 31, 2023
Level 1Level 2Level 3
Netting(a)
Total
(millions)
Assets:
NEE:
Commodity contracts$2,640 $4,741 $1,925 $(6,171)$3,135 
Interest rate contracts$— $304 $— $81 385 
Foreign currency contracts$— $— $— $— — 
Total derivative assets$3,520 
FPL – commodity contracts
$— $1 $29 $(3)$27 
Liabilities:
NEE:
Commodity contracts$3,796 $4,664 $974 $(6,531)$2,903 
Interest rate contracts$— $553 $— $81 634 
Foreign currency contracts$— $49 $— $— 49 
Total derivative liabilities$3,586 
FPL – commodity contracts
$— $13 $5 $(3)$15 
Net fair value by NEE balance sheet line item:
Current derivative assets(b)
$1,730 
Noncurrent derivative assets(c)
1,790 
Total derivative assets$3,520 
Current derivative liabilities(d)
$845 
Noncurrent derivative liabilities
2,741 
Total derivative liabilities$3,586 
Net fair value by FPL balance sheet line item:
Current other assets$13 
Noncurrent other assets14 
Total derivative assets$27 
Current other liabilities$9 
Noncurrent other liabilities6 
Total derivative liabilities$15 
______________________
(a)Includes the effect of the contractual ability to settle contracts under master netting arrangements and the netting of margin cash collateral payments and receipts. NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the consolidated balance sheets and are recorded in customer receivables – net and accounts payable, respectively.
(b)Reflects the netting of approximately $148 million in margin cash collateral received from counterparties.
(c)Reflects the netting of approximately $307 million in margin cash collateral received from counterparties.
(d)Reflects the netting of approximately $815 million in margin cash collateral paid to counterparties.
December 31, 2022
Level 1Level 2Level 3
Netting(a)
Total
(millions)
Assets:
NEE:
Commodity contracts$5,372 $7,559 $2,094 $(12,030)$2,995 
Interest rate contracts$— $583 $— $(49)534 
Foreign currency contracts$— $— $— $(4)(4)
Total derivative assets$3,525 
FPL – commodity contracts
$— $11 $25 $(7)$29 
Liabilities:
NEE:
Commodity contracts$7,185 $7,620 $2,948 $(13,010)$4,743 
Interest rate contracts$— $191 $— $(49)142 
Foreign currency contracts$— $130 $— $(4)126 
Total derivative liabilities$5,011 
FPL – commodity contracts
$— $4 $16 $(7)$13 
Net fair value by NEE balance sheet line item:
Current derivative assets(b)
$1,590 
Noncurrent derivative assets(c)
1,935 
Total derivative assets$3,525 
Current derivative liabilities(d)
$2,102 
Noncurrent derivative liabilities(e)
2,909 
Total derivative liabilities$5,011 
Net fair value by FPL balance sheet line item:
Current other assets$19 
Noncurrent other assets10 
Total derivative assets
$29 
Current other liabilities$12 
Noncurrent other liabilities1 
Total derivative liabilities$13 
______________________
(a)Includes the effect of the contractual ability to settle contracts under master netting arrangements and the netting of margin cash collateral payments and receipts. NEE and FPL also have contract settlement receivable and payable balances that are subject to the master netting arrangements but are not offset within the consolidated balance sheets and are recorded in customer receivables – net and accounts payable, respectively.
(b)Reflects the netting of approximately $299 million in margin cash collateral received from counterparties.
(c)Reflects the netting of approximately $262 million in margin cash collateral received from counterparties.
(d)Reflects the netting of approximately $328 million in margin cash collateral paid to counterparties.
(e)Reflects the netting of approximately $1,213 million in margin cash collateral paid to counterparties
NEE's and FPL's financial assets and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:
 December 31, 2023
 Level 1Level 2 Level 3Total
 (millions)
Assets:     
Cash equivalents and restricted cash equivalents:(a)
     
NEE – equity securities
$1,972 $—  $— $1,972 
FPL – equity securities
$12 $—  $— $12 
Special use funds:(b)
  
NEE:  
Equity securities$2,349 $2,742 
(c)
$199 $5,290 
U.S. Government and municipal bonds$700 $57  $— $757 
Corporate debt securities$3 $620  $— $623 
Asset-backed securities$— $822  $— $822 
Other debt securities$6 $14  $— $20 
FPL:  
Equity securities$863 $2,474 
(c)
$199 $3,536 
U.S. Government and municipal bonds$556 $27  $— $583 
Corporate debt securities$3 $455  $— $458 
Asset-backed securities$— $606  $— $606 
Other debt securities$5 $6  $— $11 
Other investments:(d)
  
NEE:  
Equity securities$50 $— $— $50 
U.S. Government and municipal bonds$288 $3 $— $291 
Corporate debt securities$— $408 $115 $523 
Other debt securities
$— $196 $15 $211 
FPL:
Equity securities
$9 $— $— $9 
______________________
(a)Includes restricted cash equivalents of approximately $34 million ($11 million for FPL) in current other assets on the consolidated balance sheets.
(b)Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at Other than Fair Value below.
(c)Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.
(d)Included in noncurrent other assets on NEE's and FPL's consolidated balance sheets.
December 31, 2022
Level 1Level 2Level 3Total
(millions)
Assets:     
Cash equivalents and restricted cash equivalents:(a)
     
NEE – equity securities
$961 $— $— $961 
FPL – equity securities
$36 $— $— $36 
Special use funds:(b)
     
NEE:     
Equity securities$2,062 $2,375 
(c)
$— $4,437 
U.S. Government and municipal bonds$641 $63  $— $704 
Corporate debt securities$6 $716  $— $722 
Asset-backed securities$— $615  $— $615 
Other debt securities$1 $19  $— $20 
FPL:     
Equity securities$743 $2,162 
(c)
$— $2,905 
U.S. Government and municipal bonds$505 $29  $— $534 
Corporate debt securities$6 $547  $— $553 
Asset-backed securities$— $473  $— $473 
Other debt securities$1 $11  $— $12 
Other investments:(d)
     
NEE:     
Equity securities$30 $1 $— $31 
U.S. Government and municipal bonds$117 $118 $— $235 
Corporate debt securities$— $125 $108 $233 
Other debt securities$— $57 $10 $67 
FPL:
Equity securities$9 $— $— $9 
Debt securities
$— $114 $— $114 
______________________
(a)Includes restricted cash equivalents of approximately $69 million ($33 million for FPL) in current other assets on the consolidated balance sheets.
(b)Excludes investments accounted for under the equity method and loans not measured at fair value on a recurring basis. See Fair Value of Financial Instruments Recorded at Other than Fair Value below.
(c)Primarily invested in commingled funds whose underlying securities would be Level 1 if those securities were held directly by NEE or FPL.
(d)Included in noncurrent other assets on NEE's and FPL's consolidated balance sheets.
Fair Value, by Balance Sheet Grouping The carrying amounts of commercial paper and other short-term debt approximate their fair values. The carrying amounts and estimated fair values of other financial instruments recorded at other than fair value are as follows:
December 31, 2023December 31, 2022
Carrying
Amount		Estimated
Fair Value		Carrying
Amount		Estimated
Fair Value
 (millions) 
NEE:
Special use funds(a)
$1,186 $1,187 $998 $999 
Other receivables, net of allowances(b)
$777 $777 

$246 $246 
Long-term debt, including current portion$68,306 $64,103 
(c)
$61,889 

$57,892 
(c)
FPL:
Special use funds(a)
$856 $856 $744 $744 
Long-term debt, including current portion$25,274 $23,430 
(c)
$21,002 $19,364 
(c)
______________________
(a)Primarily represents investments accounted for under the equity method and loans not measured at fair value on a recurring basis (Level 2).
(b)Approximately $567 million and $25 million is included in current other assets and $210 million and $221 million is included in noncurrent other assets on NEE's consolidated balance sheets at December 31, 2023 and 2022, respectively (primarily Level 3).
(c)At December 31, 2023 and 2022, substantially all is Level 2 for NEE and FPL.
Unrealized Gains (Losses) Recognized On Equity Securities
Unrealized gains (losses) recognized on equity securities held at December 31, 2023, 2022 and 2021 are as follows:

NEEFPL
Years Ended December 31,Years Ended December 31,
202320222021202320222021
(millions)
Unrealized gains (losses)$881 $(1,028)$981 $598 $(677)$652 
Debt Securities, Available-for-sale
Realized gains and losses and proceeds from the sale or maturity of available for sale debt securities are as follows:
NEEFPL
Years Ended December 31,Years Ended December 31,
202320222021202320222021
(millions)
Realized gains$40 $30 $78 $35 $24 $59 
Realized losses$169 $141 $73 $147 $111 $57 
Proceeds from sale or maturity of securities$2,380 $2,207 $1,831 $1,921 $1,371 $1,330 
The unrealized gains and unrealized losses on available for sale debt securities and the fair value of available for sale debt securities in an unrealized loss position are as follows:
NEEFPL
December 31,December 31,
2023202220232022
 (millions) 
Unrealized gains$41 $4 $31 $3 
Unrealized losses(a)
$134 $285 $71 $193 
Fair value$1,862 $2,315 $872 $1,466 
______________________
(a)Unrealized losses on available for sale debt securities in an unrealized loss position for greater than twelve months at December 31, 2023 and 2022 were not material to NEE or FPL.