Summarized Financial Information of Capital Holdings | 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. 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 Three Months Ended September 30, 2017 2016 NEE (Guarantor) NEECH Other (a) NEE Consoli- dated NEE (Guarantor) NEECH Other (a) NEE Consoli- dated (millions) Operating revenues $ — $ 1,365 $ 3,443 $ 4,808 $ — $ 1,526 $ 3,279 $ 4,805 Operating expenses - net (3 ) (982 ) (2,424 ) (3,409 ) (5 ) (1,032 ) (2,489 ) (3,526 ) Interest expense (1 ) (259 ) (121 ) (381 ) — (255 ) (114 ) (369 ) Equity in earnings of subsidiaries 830 — (830 ) — 765 — (765 ) — Other income - net — 181 21 202 4 276 17 297 Income (loss) before income taxes 826 305 89 1,220 764 515 (72 ) 1,207 Income tax expense (benefit) (21 ) 30 355 364 11 141 266 418 Net income (loss) 847 275 (266 ) 856 753 374 (338 ) 789 Less net income attributable to noncontrolling interests — 9 — 9 — 36 — 36 Net income (loss) attributable to NEE $ 847 $ 266 $ (266 ) $ 847 $ 753 $ 338 $ (338 ) $ 753 Nine Months Ended September 30, 2017 2016 NEE (Guarantor) NEECH Other (a) NEE Consoli- dated NEE (Guarantor) NEECH Other (a) NEE Consoli- dated (millions) Operating revenues $ — $ 4,154 $ 9,031 $ 13,185 $ — $ 4,131 $ 8,326 $ 12,457 Operating expenses - net (13 ) (1,806 ) (6,276 ) (8,095 ) (14 ) (2,756 ) (6,005 ) (8,775 ) Interest expense (2 ) (809 ) (360 ) (1,171 ) (1 ) (1,137 ) (342 ) (1,480 ) Equity in earnings of subsidiaries 3,179 — (3,179 ) — 1,989 — (1,989 ) — Other income - net 1 630 31 662 5 603 57 665 Income (loss) before income taxes 3,165 2,169 (753 ) 4,581 1,979 841 47 2,867 Income tax expense (benefit) (58 ) 468 919 1,329 33 71 775 879 Net income (loss) 3,223 1,701 (1,672 ) 3,252 1,946 770 (728 ) 1,988 Less net income attributable to noncontrolling interests — 29 — 29 — 42 — 42 Net income (loss) attributable to NEE $ 3,223 $ 1,672 $ (1,672 ) $ 3,223 $ 1,946 $ 728 $ (728 ) $ 1,946 ——————————————— (a) Represents primarily FPL and consolidating adjustments. Condensed Consolidating Statements of Comprehensive Income Three Months Ended September 30, 2017 2016 NEE (Guarantor) NEECH Other (a) NEE Consoli- dated NEE (Guarantor) NEECH Other (a) NEE Consoli- dated (millions) Comprehensive income (loss) attributable to NEE $ 892 $ 312 $ (312 ) $ 892 $ 799 $ 384 $ (384 ) $ 799 Nine Months Ended September 30, 2017 2016 NEE (Guarantor) NEECH Other (a) NEE Consoli- dated NEE (Guarantor) NEECH Other (a) NEE Consoli- dated (millions) Comprehensive income (loss) attributable to NEE $ 3,341 $ 1,784 $ (1,784 ) $ 3,341 $ 2,078 $ 866 $ (866 ) $ 2,078 ——————————————— (a) Represents primarily FPL and consolidating adjustments. Condensed Consolidating Balance Sheets September 30, 2017 December 31, 2016 NEE (Guaran- tor) NEECH Other (a) NEE Consoli- dated NEE (Guaran- tor) NEECH Other (a) NEE Consoli- dated (millions) PROPERTY, PLANT AND EQUIPMENT Electric plant in service and other property $ 23 $ 41,530 $ 50,995 $ 92,548 $ 28 $ 38,671 $ 48,314 $ 87,013 Accumulated depreciation and amortization (16 ) (8,714 ) (12,730 ) (21,460 ) (18 ) (7,778 ) (12,305 ) (20,101 ) Total property, plant and equipment - net 7 32,816 38,265 71,088 10 30,893 36,009 66,912 CURRENT ASSETS Cash and cash equivalents 1 1,370 10 1,381 1 1,258 33 1,292 Receivables 340 1,441 969 2,750 88 1,615 736 2,439 Other 4 1,257 1,635 2,896 2 1,877 1,799 3,678 Total current assets 345 4,068 2,614 7,027 91 4,750 2,568 7,409 OTHER ASSETS Investment in subsidiaries 26,139 — (26,139 ) — 24,323 — (24,323 ) — Other 821 10,152 7,693 18,666 867 8,992 5,813 15,672 Total other assets 26,960 10,152 (18,446 ) 18,666 25,190 8,992 (18,510 ) 15,672 TOTAL ASSETS $ 27,312 $ 47,036 $ 22,433 $ 96,781 $ 25,291 $ 44,635 $ 20,067 $ 89,993 CAPITALIZATION Common shareholders' equity $ 26,398 $ 8,732 $ (8,732 ) $ 26,398 $ 24,341 $ 7,699 $ (7,699 ) $ 24,341 Noncontrolling interests — 923 — 923 — 990 — 990 Long-term debt — 20,290 10,055 30,345 — 18,112 9,706 27,818 Total capitalization 26,398 29,945 1,323 57,666 24,341 26,801 2,007 53,149 CURRENT LIABILITIES Debt due within one year — 2,821 1,793 4,614 — 2,237 785 3,022 Accounts payable 1 1,559 696 2,256 1 2,668 778 3,447 Other 286 1,885 2,563 4,734 231 2,624 1,595 4,450 Total current liabilities 287 6,265 5,052 11,604 232 7,529 3,158 10,919 OTHER LIABILITIES AND DEFERRED CREDITS Asset retirement obligations — 880 2,002 2,882 — 816 1,920 2,736 Deferred income taxes 37 3,439 9,087 12,563 82 3,002 8,017 11,101 Other 590 6,507 4,969 12,066 636 6,487 4,965 12,088 Total other liabilities and deferred credits 627 10,826 16,058 27,511 718 10,305 14,902 25,925 COMMITMENTS AND CONTINGENCIES TOTAL CAPITALIZATION AND LIABILITIES $ 27,312 $ 47,036 $ 22,433 $ 96,781 $ 25,291 $ 44,635 $ 20,067 $ 89,993 ——————————————— (a) Represents primarily FPL and consolidating adjustments. Condensed Consolidating Statements of Cash Flows Nine Months Ended September 30, 2017 2016 NEE (Guaran- tor) NEECH Other (a) NEE Consoli- dated NEE (Guaran- tor) NEECH Other (a) NEE Consoli- dated (millions) NET CASH PROVIDED BY OPERATING ACTIVITIES $ 1,464 $ 1,793 $ 1,903 $ 5,160 $ 1,164 $ 1,781 $ 2,349 $ 5,294 CASH FLOWS FROM INVESTING ACTIVITIES Capital expenditures, independent power and other investments and nuclear fuel purchases — (4,808 ) (3,779 ) (8,587 ) (1 ) (4,831 ) (3,097 ) (7,929 ) Proceeds from sale of the fiber-optic telecommunications business — 1,482 — 1,482 — — — — Capital contributions from NEE (46 ) — 46 — (432 ) — 432 — Sale of independent power and other investments of NEER — 159 — 159 — 395 — 395 Proceeds from sale or maturity of securities in special use funds and other investments — 819 1,240 2,059 — 860 1,775 2,635 Purchases of securities in special use funds and other investments — (827 ) (1,319 ) (2,146 ) — (874 ) (1,837 ) (2,711 ) Proceeds from sales of noncontrolling interests in NEP — — — — — 645 — 645 Other - net 7 163 28 198 — (49 ) 31 (18 ) Net cash used in investing activities (39 ) (3,012 ) (3,784 ) (6,835 ) (433 ) (3,854 ) (2,696 ) (6,983 ) CASH FLOWS FROM FINANCING ACTIVITIES Issuances of long-term debt — 4,995 201 5,196 — 4,494 150 4,644 Retirements of long-term debt — (3,819 ) (73 ) (3,892 ) — (2,392 ) (262 ) (2,654 ) Proceeds from differential membership investors — 340 — 340 — 328 — 328 Net change in commercial paper — 995 811 1,806 — (154 ) 408 254 Proceeds from other short-term debt — — 200 200 — — 500 500 Repayments of other short-term debt — — (2 ) (2 ) — (212 ) (150 ) (362 ) Issuances of common stock - net 36 — — 36 528 — — 528 Dividends on common stock (1,382 ) — — (1,382 ) (1,205 ) — — (1,205 ) Contributions from (dividends to) NEE — (722 ) 722 — — 294 (294 ) — Other - net (79 ) (458 ) (1 ) (538 ) (54 ) (197 ) 17 (234 ) Net cash provided by (used in) financing activities (1,425 ) 1,331 1,858 1,764 (731 ) 2,161 369 1,799 Net increase (decrease) in cash and cash equivalents — 112 (23 ) 89 — 88 22 110 Cash and cash equivalents at beginning of period 1 1,258 33 1,292 — 546 25 571 Cash and cash equivalents at end of period $ 1 $ 1,370 $ 10 $ 1,381 $ — $ 634 $ 47 $ 681 ——————————————— (a) Represents primarily FPL and consolidating adjustments. |