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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) $ 4,239 $ 4,825
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,964 3,949
Nuclear fuel and other amortization 262 230
Unrealized losses on marked to market derivative contracts – net 799 514
Foreign currency transaction losses (gains) 27 (1)
Deferred income taxes (460) 550
Cost recovery clauses and franchise fees (17) 946
Equity in losses (earnings) of equity method investees 266 (599)
Distributions of earnings from equity method investees 353 641
Gains on disposal of businesses, assets and investments – net (366) (450)
Recoverable storm-related costs (418) (139)
Other – net 237 (36)
Changes in operating assets and liabilities:    
Current assets (675) (146)
Noncurrent assets (346) (137)
Current liabilities 806 1,004
Noncurrent liabilities 315 128
Net cash provided by operating activities 9,986 11,279
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures of FPL (6,736) (6,221)
Independent power and other investments of NEER (12,276) (13,436)
Nuclear fuel purchases (311) (334)
Other capital expenditures (5) (117)
Sale of independent power and other investments of NEER 999 2,208
Proceeds from sale or maturity of securities in special use funds 4,197 3,318
Purchases of securities in special use funds (4,570) (3,770)
Other – net 49 (32)
Net cash used in investing activities (18,653) (18,384)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuances of long-term debt, including premiums and discounts 15,246 16,175
Retirements of long-term debt (7,546) (8,941)
Proceeds from differential membership investors 1,065 477
Payments to differential membership investors (166) (720)
Net change in commercial paper 2,592 (680)
Proceeds from other short-term debt 1,950 6,358
Repayments of other short-term debt (1,067) (1,473)
Cash swept from (repayments to) related parties – net (128) (1,460)
Issuances of common stock/equity units 2,028 47
Dividends on common stock (3,499) (3,176)
Other – net (499) (348)
Net cash provided by (used in) financing activities 9,976 6,259
Effects of currency translation on cash, cash equivalents and restricted cash 3 0
Net increase (decrease) in cash, cash equivalents and restricted cash 1,312 (846)
Cash, cash equivalents and restricted cash at beginning of period 1,402 3,420
Cash, cash equivalents and restricted cash at end of period 2,714 2,574
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (net of amount capitalized) 2,623 1,924
Cash paid (received) for income taxes - net (797) (615)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued property additions 4,778 4,384
Right-of-use asset in exchange for finance lease liability 262 482
Florida Power & Light Company    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) [1] 4,054 3,698
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,873 1,971
Nuclear fuel and other amortization 118 137
Deferred income taxes 101 234
Cost recovery clauses and franchise fees (17) 946
Recoverable storm-related costs (418) (139)
Other – net 18 (5)
Changes in operating assets and liabilities:    
Current assets (685) (151)
Noncurrent assets (163) (109)
Current liabilities 968 768
Noncurrent liabilities (14) (9)
Net cash provided by operating activities 6,835 7,341
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (6,736) (6,221)
Nuclear fuel purchases (123) (188)
Proceeds from sale or maturity of securities in special use funds 2,459 2,271
Purchases of securities in special use funds (2,586) (2,398)
Other – net 23 0
Net cash used in investing activities (6,963) (6,536)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuances of long-term debt, including premiums and discounts 1,996 3,205
Retirements of long-term debt (1,220) (1,720)
Net change in commercial paper (521) (1,524)
Repayments of other short-term debt 0 (255)
Capital contributions from NEE 0 3,400
Dividends on common stock (100) (3,700)
Other – net (37) (43)
Net cash provided by (used in) financing activities 118 (637)
Net increase (decrease) in cash, cash equivalents and restricted cash (10) 168
Cash, cash equivalents and restricted cash at beginning of period 133 72
Cash, cash equivalents and restricted cash at end of period 123 240
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (net of amount capitalized) 834 731
Cash paid (received) for income taxes - net 143 657
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued property additions $ 1,189 $ 674
[1] FPL's comprehensive income is the same as reported net income.