Equity (Tables)

9 Months Ended

Sep. 30, 2024

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(millions, except per share amounts)

Numerator – net income attributable to NEE	$	1,852	$	1,219	$	5,743	$	6,100



Denominator:
Weighted-average number of common shares outstanding – basic	2,053.5		2,031.3		2,052.5		2,017.8
Equity units, stock options, performance share awards, restricted stock and exchangeable notes(a)	7.9		4.9		5.8		5.2
Weighted-average number of common shares outstanding – assuming dilution	2,061.4		2,036.2		2,058.3		2,023.0
Earnings per share attributable to NEE:
Basic	$	0.90	$	0.60	$	2.80	$	3.02
Assuming dilution	$	0.90	$	0.60	$	2.79	$	3.02

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(a)Calculated primarily 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 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 Related to Equity Method Investees		Total
	(millions)
Three Months Ended September 30, 2024












Balances, June 30, 2024	$	22		$	(43)		$	(79)	$	(78)	$	7	$	(171)


Other comprehensive income before reclassifications	—			32			—		8		1		41
Amounts reclassified from AOCI	1		(a)	1		(b)	—		—		—		2
Net other comprehensive income	1			33			—		8		1		43
Less other comprehensive income attributable to noncontrolling interests	—			—			—		(3)		—		(3)
Balances, September 30, 2024	$	23		$	(10)		$	(79)	$	(73)	$	8	$	(131)
Attributable to noncontrolling interests	$	—		$	—		$	—	$	(15)	$	—	$	(15)

———————————————

(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 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 Related to Equity Method Investees		Total
	(millions)
Nine Months Ended September 30, 2024
Balances, December 31, 2023	$	22		$	(39)		$	(79)	$	(64)	$	7	$	(153)
Other comprehensive income (loss) before reclassifications	—			23			—		(13)		1		11
Amounts reclassified from AOCI	1		(a)	6		(b)	—		—		—		7
Net other comprehensive income (loss)	1			29			—		(13)		1		18
Less other comprehensive loss attributable to noncontrolling interests	—			—			—		4		—		4
Balances, September 30, 2024	$	23		$	(10)		$	(79)	$	(73)	$	8	$	(131)
Attributable to noncontrolling interests	$	—		$	—		$	—	$	(15)	$	—	$	(15)

———————————————

(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 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 Related to Equity Method Investees		Total
	(millions)
Three Months Ended September 30, 2023
Balances, June 30, 2023	$	21	$	(63)		$	(100)	$	(64)	$	6	$	(200)
Other comprehensive loss before reclassifications	—		(19)			—		(15)		—		(34)
Amounts reclassified from AOCI	—		2		(a)	—		—		—		2
Net other comprehensive loss	—		(17)			—		(15)		—		(32)
Less other comprehensive loss attributable to noncontrolling interests	—		—			—		5		—		5
Balances, September 30, 2023	$	21	$	(80)		$	(100)	$	(74)	$	6	$	(227)
Attributable to noncontrolling interests	$	—	$	—		$	—	$	(15)	$	—	$	(15)

———————————————

(a)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 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 Related to Equity Method Investees		Total
	(millions)
Nine Months Ended September 30, 2023
Balances, December 31, 2022	$	20		$	(69)		$	(101)	$	(74)	$	6	$	(218)
Other comprehensive loss before reclassifications	—			(20)			—		(2)		—		(22)
Amounts reclassified from AOCI	1		(a)	9		(b)	1		—		—		11
Net other comprehensive income (loss)	1			(11)			1		(2)		—		(11)
Less other comprehensive loss attributable to noncontrolling interests	—			—			—		2		—		2
Balances, September 30, 2023	$	21		$	(80)		$	(100)	$	(74)	$	6	$	(227)
Attributable to noncontrolling interests	$	—		$	—		$	—	$	(15)	$	—	$	(15)

———————————————

(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.