Summarized Financial Information of NEECH | Summarized Financial Information of NEECH NEECH, a 100% owned subsidiary of NEE, provides funding for, and holds ownership interests in, NEE's operating subsidiaries other than FPL and Gulf Power. NEECH’s debentures and junior subordinated debentures including those that were registered pursuant to the Securities Act of 1933, as amended, are fully and unconditionally guaranteed by NEE. Condensed consolidating financial information is as follows: Condensed Consolidating Statements of Income Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017 NEE NEECH Other (a) NEE NEE NEECH Other (a) NEE NEE NEECH Other (a) NEE (millions) Operating revenues $ — $ 5,671 $ 13,533 $ 19,204 $ — $ 5,007 $ 11,720 $ 16,727 $ — $ 5,301 $ 11,872 $ 17,173 Operating expenses - net (209 ) (3,669 ) (9,973 ) (13,851 ) (196 ) (3,652 ) (8,599 ) (12,447 ) (175 ) (3,273 ) (8,552 ) (12,000 ) Interest expense (3 ) (1,596 ) (650 ) (2,249 ) (17 ) (940 ) (541 ) (1,498 ) (3 ) (1,074 ) (481 ) (1,558 ) Equity in earnings of subsidiaries 3,785 — (3,785 ) — 6,548 — (6,548 ) — 5,393 — (5,393 ) — Equity in earnings of equity method investees — 66 — 66 — 358 — 358 — 141 — 141 Gain on NEP deconsolidation — — — — — 3,927 — 3,927 — — — — Other income - net 185 407 74 666 169 21 95 285 151 702 54 907 Income (loss) before income taxes 3,758 879 (801 ) 3,836 6,504 4,721 (3,873 ) 7,352 5,366 1,797 (2,500 ) 4,663 Income tax expense (benefit) (11 ) (21 ) 480 448 (134 ) 1,195 515 1,576 (14 ) (1,719 ) 1,073 (660 ) Net income (loss) 3,769 900 (1,281 ) 3,388 6,638 3,526 (4,388 ) 5,776 5,380 3,516 (3,573 ) 5,323 Net loss attributable to noncontrolling interests — 381 — 381 — 862 — 862 — 57 — 57 Net income (loss) attributable to NEE $ 3,769 $ 1,281 $ (1,281 ) $ 3,769 $ 6,638 $ 4,388 $ (4,388 ) $ 6,638 $ 5,380 $ 3,573 $ (3,573 ) $ 5,380 ______________________ (a) Represents primarily FPL and consolidating adjustments. Condensed Consolidating Statements of Comprehensive Income Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017 NEE NEECH Other (a) NEE NEE NEECH Other (a) NEE NEE NEECH Other (a) NEE (millions) Comprehensive income (loss) attributable to NEE $ 3,789 $ 1,340 $ (1,340 ) $ 3,789 $ 6,667 $ 4,434 $ (4,434 ) $ 6,667 $ 5,561 $ 3,710 $ (3,710 ) $ 5,561 ______________________ (a) Represents primarily FPL and consolidating adjustments. Condensed Consolidating Balance Sheets December 31, 2019 December 31, 2018 NEE (Guaran- NEECH Other (a) NEE NEE (Guaran- NEECH Other (a) NEE (millions) PROPERTY, PLANT AND EQUIPMENT Electric plant in service and other property $ 170 $ 41,585 $ 65,423 $ 107,178 $ 220 $ 37,145 $ 54,718 $ 92,083 Accumulated depreciation and amortization (111 ) (9,473 ) (15,584 ) (25,168 ) (58 ) (8,473 ) (13,218 ) (21,749 ) Total property, plant and equipment - net 59 32,112 49,839 82,010 162 28,672 41,500 70,334 CURRENT ASSETS Cash and cash equivalents 1 515 84 600 (1 ) 525 114 638 Receivables 81 1,489 1,237 2,807 292 1,771 906 2,969 Other 16 2,633 1,352 4,001 5 1,425 1,356 2,786 Total current assets 98 4,637 2,673 7,408 296 3,721 2,376 6,393 OTHER ASSETS Investment in subsidiaries 36,783 — (36,783 ) — 33,397 — (33,397 ) — Investment in equity method investees — 7,453 — 7,453 — 6,748 — 6,748 Goodwill 1 1,217 2,986 4,204 1 587 303 891 Other 404 6,899 9,313 16,616 937 5,890 12,509 19,336 Total other assets 37,188 15,569 (24,484 ) 28,273 34,335 13,225 (20,585 ) 26,975 TOTAL ASSETS $ 37,345 $ 52,318 $ 28,028 $ 117,691 $ 34,793 $ 45,618 $ 23,291 $ 103,702 CAPITALIZATION Common shareholders' equity $ 37,005 $ 11,050 $ (11,050 ) $ 37,005 $ 34,144 $ 7,917 $ (7,917 ) $ 34,144 Noncontrolling interests — 4,355 — 4,355 — 3,269 — 3,269 Redeemable noncontrolling interests — 487 — 487 — 468 — 468 Long-term debt — 21,901 15,642 37,543 — 15,094 11,688 26,782 Total capitalization 37,005 37,793 4,592 79,390 34,144 26,748 3,771 64,663 CURRENT LIABILITIES Debt due within one year — 2,961 2,079 5,040 — 9,579 1,351 10,930 Accounts payable 3 2,755 873 3,631 32 1,730 624 2,386 Other 167 2,817 2,198 5,182 168 2,364 1,715 4,247 Total current liabilities 170 8,533 5,150 13,853 200 13,673 3,690 17,563 OTHER LIABILITIES AND DEFERRED CREDITS Asset retirement obligations — 1,072 2,385 3,457 — 988 2,147 3,135 Deferred income taxes (410 ) 2,956 5,815 8,361 (157 ) 2,778 4,746 7,367 Other 580 1,964 10,086 12,630 606 1,431 8,937 10,974 Total other liabilities and deferred credits 170 5,992 18,286 24,448 449 5,197 15,830 21,476 COMMITMENTS AND CONTINGENCIES TOTAL CAPITALIZATION AND LIABILITIES $ 37,345 $ 52,318 $ 28,028 $ 117,691 $ 34,793 $ 45,618 $ 23,291 $ 103,702 ______________________ (a) Represents primarily FPL and consolidating adjustments. Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017 NEE (Guar- antor) NEECH Other (a) NEE Consoli- dated NEE (Guar- antor) NEECH Other (a) NEE Consoli- dated NEE (Guar- antor) NEECH Other (a) NEE Consoli- dated (millions) NET CASH PROVIDED BY OPERATING ACTIVITIES $ 2,769 $ 2,562 $ 2,824 $ 8,155 $ 3,401 $ 2,094 $ 1,098 $ 6,593 $ 1,968 $ 2,749 $ 1,741 $ 6,458 CASH FLOWS FROM INVESTING ACTIVITIES Capital expenditures, acquisitions, independent power and other investments and nuclear fuel purchases (7 ) (6,509 ) (10,946 ) (17,462 ) (132 ) (7,735 ) (5,137 ) (13,004 ) — (5,449 ) (5,291 ) (10,740 ) Capital contributions from NEE (1,876 ) — 1,876 — (6,270 ) — 6,270 — (92 ) — 92 — Proceeds from sale of the fiber-optic telecommunications business — — — — — — — — — 1,454 — 1,454 Sale of independent power and other investments of NEER — 1,163 — 1,163 — 1,617 — 1,617 — 178 — 178 Proceeds from sale or maturity of securities in special use funds and other investments — 1,279 2,729 4,008 — 1,178 2,232 3,410 9 1,221 1,977 3,207 Purchases of securities in special use funds and other investments — (1,306 ) (2,854 ) (4,160 ) — (1,330 ) (2,403 ) (3,733 ) — (1,163 ) (2,081 ) (3,244 ) Distributions from subsidiaries and equity method investees — — — — 4,466 637 (4,466 ) 637 — 7 — 7 Other - net 103 150 21 274 12 (130 ) 241 123 7 195 18 220 Net cash used in investing activities (1,780 ) (5,223 ) (9,174 ) (16,177 ) (1,924 ) (5,763 ) (3,263 ) (10,950 ) (76 ) (3,557 ) (5,285 ) (8,918 ) CASH FLOWS FROM FINANCING ACTIVITIES Issuances of long-term debt — 10,916 3,003 13,919 — 2,651 1,748 4,399 — 6,393 1,961 8,354 Retirements of long-term debt — (5,292 ) (200 ) (5,492 ) — (1,512 ) (1,590 ) (3,102 ) — (5,907 ) (873 ) (6,780 ) Proceeds from differential membership investors — 1,604 — 1,604 — 1,841 — 1,841 — 1,414 — 1,414 Net change in commercial paper — (651 ) 417 (234 ) — 1,493 (431 ) 1,062 — — 1,419 1,419 Proceeds from other short-term debt — — 200 200 — 5,665 — 5,665 — — 450 450 Repayments of other short-term debt — (4,765 ) — (4,765 ) — (205 ) (250 ) (455 ) — — (2 ) (2 ) Payments to related parties under CSCS agreement – net — (54 ) — (54 ) — (21 ) — (21 ) — — — — Issuances of common stock - net 1,494 — — 1,494 718 — — 718 55 — — 55 Proceeds from issuance of NEP convertible preferred units - net — — — — — — — — — 548 — 548 Dividends on common stock (2,408 ) — — (2,408 ) (2,101 ) — — (2,101 ) (1,845 ) — — (1,845 ) Contributions from (dividends to) NEE — 1,479 (1,479 ) — — (7,272 ) 7,272 — — (633 ) 633 — Other - net (73 ) (271 ) (47 ) (391 ) (96 ) (238 ) (38 ) (372 ) (102 ) (601 ) (22 ) (725 ) Net cash provided by (used in) financing activities (987 ) 2,966 1,894 3,873 (1,479 ) 2,402 6,711 7,634 (1,892 ) 1,214 3,566 2,888 Effects of currency translation on cash, cash equivalents and restricted cash — 4 — 4 — (7 ) — (7 ) — 26 — 26 Net increase (decrease) in cash, cash equivalents and restricted cash 2 309 (4,456 ) (4,145 ) (2 ) (1,274 ) 4,546 3,270 — 432 22 454 Cash, cash equivalents and restricted cash at beginning of year (1 ) 533 4,721 5,253 1 1,807 175 1,983 1 1,375 153 1,529 Cash, cash equivalents and restricted cash at end of year $ 1 $ 842 $ 265 $ 1,108 $ (1 ) $ 533 $ 4,721 $ 5,253 $ 1 $ 1,807 $ 175 $ 1,983 ______________________ (a) Represents primarily FPL and consolidating adjustments. |