Debt (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Long-term debt issuances and borrowings

Significant long-term debt issuances and borrowings during the nine months ended September 30, 2025 were as follows:

	Principal Amount		Interest Rate			Maturity Date
	(millions)
FPL:
First mortgage bonds	$	2,000	5.30%	–	5.80%	2034	–	2065
NEECH:
Debentures – fixed	$	4,500	4.85%	–	5.90%	2028	–	2055
Debentures – variable	$	500	Variable(a)			2028
Junior subordinated debentures – variable	$	2,500	6.38%	–	6.50%(b)	2055
Junior subordinated debentures – fixed	$	875	6.50%			2085
Australian dollar denominated subordinated notes(c)	$	506	Variable(d)			2055
Canadian dollar denominated debentures(c)	$	1,463	3.83%	–	4.67%	2030	–	2035
Revolving credit facilities	$	1,150	Variable(a)			2027
NEER:
Other long-term debt	$	480	Variable(a)			2028
Other long-term debt	$	330	Variable(a)			2030

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(a)Variable rate is based on an underlying index plus a specified margin.

(b)Two series of junior subordinated debentures were issued in February 2025 and will bear interest at the stated rates until August 15, 2030 and August 15, 2035, respectively, and thereafter will bear interest based on an underlying index plus a specified margin, reset every five years, provided that the interest rate will not reset below the respective initial interest rates.

(c)Foreign currency swaps have been entered into with respect to these debt issuances. See Note 2.

(d)Two series of subordinated notes were issued in June 2025. One series will initially bear interest at 6.04% until June 17, 2030 and thereafter will bear interest based on an underlying index plus a specified margin. The second series will initially bear interest based on an underlying index plus a specified margin. Both series will have an interest rate adjustment on June 17, 2035 and June 17, 2050 based on an underlying index plus a specified margin.