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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
☒ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2018
OR
☐ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission File Number 1-8841
NextEra Energy, Inc. Employee Retirement Savings Plan
(Full title of the plan)
NextEra Energy, Inc.
(Name of issuer of the securities held pursuant to the plan)
700 Universe Boulevard
Juno Beach, Florida 33408
(Address of principal executive office)
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
Page No. | ||||
1 | ||||
FINANCIAL STATEMENTS | ||||
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 2018 AND 2017 | 2-3 | |||
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2018 | 4 | |||
5 | ||||
SUPPLEMENTAL SCHEDULE | ||||
SCHEDULE H Line 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR) | 14 | |||
24 | ||||
25 | ||||
EXHIBIT 23(a) – CONSENT OF CROWE LLP |
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Participants and the Employee Benefit Plans
Administrative Committee
NextEra Energy, Inc. Employee Retirement Savings Plan
Juno Beach, Florida
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of NextEra Energy, Inc. Employee Retirement Savings Plan (the “Plan”) as of December 31, 2018 and 2017, the related statement of changes in net assets available for benefits for the year ended December 31, 2018, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2018 and 2017, and the changes in net assets available for benefits for the year ended December 31, 2018, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting in accordance with the standards of the PCAOB. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Information
The supplemental Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2018 has been subjected to audit procedures performed in conjunction with the audit of NextEra Energy, Inc. Employee Retirement Savings Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information presented in the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated in all material respects in relation to the financial statements as a whole.
Crowe LLP |
We have served as the Plan’s auditor since 2007. |
Oak Brook, Illinois |
June 27, 2019 |
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2018 AND 2017
December 31, 2018 | ||||||||||||
Participant- | Nonparticipant- | |||||||||||
Directed | Directed | Total | ||||||||||
ASSETS | ||||||||||||
Investments, at fair value (see Note 6) | ||||||||||||
Registered investment companies | $ | 394,120,141 | $ | 10,305,952 | $ | 404,426,093 | ||||||
Collective trust funds | 1,444,410,489 | — | 1,444,410,489 | |||||||||
Common stock other than NextEra Energy, Inc. common stock | 410,263,616 | — | 410,263,616 | |||||||||
NextEra Energy, Inc. common stock | 514,043,592 | 1,286,379,575 | 1,800,423,167 | |||||||||
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Total investments, at fair value | 2,762,837,838 | 1,296,685,527 | 4,059,523,365 | |||||||||
Investments, at contract value (see Note 7) | 282,869,282 | — | 282,869,282 | |||||||||
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Total investments | 3,045,707,120 | 1,296,685,527 | 4,342,392,647 | |||||||||
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Receivables | ||||||||||||
Participant loans | 71,944,590 | — | 71,944,590 | |||||||||
Pending trades due from brokers | 1,945,611 | — | 1,945,611 | |||||||||
Other receivables | 1,443,528 | 16,478 | 1,460,006 | |||||||||
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Total receivables | 75,333,729 | 16,478 | 75,350,207 | |||||||||
Non-interest bearing cash | 37,678 | — | 37,678 | |||||||||
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Total assets | 3,121,078,527 | 1,296,702,005 | 4,417,780,532 | |||||||||
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LIABILITIES | ||||||||||||
Pending trades due to brokers (see Note 7) | 7,698,293 | — | 7,698,293 | |||||||||
Other payables | 2,961,563 | 71,986 | 3,033,549 | |||||||||
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Total liabilities | 10,659,856 | 71,986 | 10,731,842 | |||||||||
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NET ASSETS AVAILABLE FOR BENEFITS | $ | 3,110,418,671 | $ | 1,296,630,019 | $ | 4,407,048,690 | ||||||
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The accompanying Notes to Financial Statements are an integral part of these statements.
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2018 AND 2017
December 31, 2017 | ||||||||||||
Participant- | Nonparticipant- | |||||||||||
Directed | Directed | Total | ||||||||||
ASSETS | ||||||||||||
Investments, at fair value (see Note 6) | ||||||||||||
Registered investment companies | $ | 426,956,812 | $ | 10,270,951 | $ | 437,227,763 | ||||||
Collective trust funds | 1,615,240,260 | — | 1,615,240,260 | |||||||||
Common stock other than NextEra Energy, Inc. common stock | 369,418,704 | — | 369,418,704 | |||||||||
NextEra Energy, Inc. common stock | 505,405,823 | 1,206,146,958 | 1,711,552,781 | |||||||||
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Total investments, at fair value | 2,917,021,599 | 1,216,417,909 | 4,133,439,508 | |||||||||
Investments, at contract value (see Note 7) | 281,704,258 | — | 281,704,258 | |||||||||
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Total investments | 3,198,725,857 | 1,216,417,909 | 4,415,143,766 | |||||||||
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Receivables | ||||||||||||
Participant loans | 69,958,932 | — | 69,958,932 | |||||||||
Pending trades due from brokers | 107,183 | — | 107,183 | |||||||||
Other receivables | 1,481,184 | 8,326 | 1,489,510 | |||||||||
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Total receivables | 71,547,299 | 8,326 | 71,555,625 | |||||||||
Non-interest bearing cash | 812,872 | — | 812,872 | |||||||||
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Total assets | 3,271,086,028 | 1,216,426,235 | 4,487,512,263 | |||||||||
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LIABILITIES | ||||||||||||
Pending trades due to brokers | 1,097,092 | — | 1,097,092 | |||||||||
Other payables | 1,347,177 | 187,524 | 1,534,701 | |||||||||
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Total liabilities | 2,444,269 | 187,524 | 2,631,793 | |||||||||
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NET ASSETS AVAILABLE FOR BENEFITS | $ | 3,268,641,759 | $ | 1,216,238,711 | $ | 4,484,880,470 | ||||||
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The accompanying Notes to Financial Statements are an integral part of these statements.
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2018
Participant- | Nonparticipant- | |||||||||||
Directed | Directed | Total | ||||||||||
ADDITIONS TO NET ASSETS ATTRIBUTED TO: | ||||||||||||
Net appreciation/(depreciation) in fair value of investments | $ | (73,996,172 | ) | $ | 132,189,103 | $ | 58,192,931 | |||||
Interest income | 10,741,525 | — | 10,741,525 | |||||||||
Dividend income | 37,838,132 | 33,365,870 | 71,204,002 | |||||||||
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Net investment income/(loss) | (25,416,515 | ) | 165,554,973 | 140,138,458 | ||||||||
Contributions | ||||||||||||
Participant | 162,675,498 | — | 162,675,498 | |||||||||
Employer - NextEra Energy, Inc. common stock | — | 54,249,486 | 54,249,486 | |||||||||
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Total contributions | 162,675,498 | 54,249,486 | 216,924,984 | |||||||||
Transfer from/to nonparticipant-directed investments | 41,576,651 | 1,802,958 | 43,379,609 | |||||||||
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Total net additions | 178,835,634 | 221,607,417 | 400,443,051 | |||||||||
DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO: | ||||||||||||
Benefit payments to participants and beneficiaries | 331,325,187 | 99,252,479 | 430,577,666 | |||||||||
Management and administrative expenses | 3,930,577 | 386,979 | 4,317,556 | |||||||||
Transfer from/to participant directed investments | 1,802,958 | 41,576,651 | 43,379,609 | |||||||||
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Total deductions | 337,058,722 | 141,216,109 | 478,274,831 | |||||||||
NET INCREASE/(DECREASE) | $ | (158,223,088 | ) | $ | 80,391,308 | $ | (77,831,780 | ) | ||||
NET ASSETS AVAILABLE FOR BENEFITS AT DECEMBER 31, 2017 | $ | 3,268,641,759 | $ | 1,216,238,711 | $ | 4,484,880,470 | ||||||
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NET ASSETS AVAILABLE FOR BENEFITS AT DECEMBER 31, 2018 | $ | 3,110,418,671 | $ | 1,296,630,019 | $ | 4,407,048,690 | ||||||
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The accompanying Notes to Financial Statements are an integral part of these statements.
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
1. Description of the Plan
The following description of the NextEra Energy, Inc. Employee Retirement Savings Plan (the Plan) provides only general information. Participating employees (Participants) should refer to the Summary Plan Description available in their employee handbook (as updated periodically through Summaries of Material Modifications) for a more complete description of the Plan and up-to-date information regarding participating subsidiaries and differing vesting, employer contribution and employee contribution schedules.
General
The Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The Plan includes a cash or deferred arrangement (Pretax Option) permitted by Section 401(k) of the Internal Revenue Code of 1986, as amended (the Code). The Pretax Option permits Participants to defer federal income taxes on their contributions (Pretax Contributions) until such contributions are distributed from the Plan.
Employees of NextEra Energy, Inc. (the Company/Employer) and its subsidiaries, with the exception of employees of Eagle Crest Energy, Co., are eligible to participate in the Plan on the first day of the month coincident with the completion of one full month of service with the Company or certain of its subsidiaries or on the first day of any payroll period thereafter.
The Plan contains employee stock ownership plan (ESOP) provisions. The ESOP is a stock bonus plan within the meaning of U.S. Treasury Regulation Section 1.401-1(b)(1)(iii) which is qualified under Section 401(a) of the Code and is designed to invest primarily in the common stock, par value $.01 per share, of the Company (Company Stock).
The Plan has a Dividend Payout Program which enables Participants to choose how their dividends on certain shares of Company Stock held in the Plan are to be paid. The options available to Participants include reinvestment of dividends in Company Stock or distribution of dividends in cash.
Trustee
Fidelity Management Trust Company (Trustee) administers the NextEra Energy, Inc. Employee Retirement Savings Plan Trust (Trust) established to hold the assets and liabilities of the Plan.
Administration of the Plan
The Plan is intended to qualify as a participant-directed account plan under Section 404(c) of ERISA. The Employee Benefit Plans Administrative Committee (as appointed by the Employee Benefits Advisory Committee of the Company) is the named fiduciary responsible for the general operation and administration of the Plan (but not management or control of Plan assets), and the Employee Benefit Plans Investment Committee (as appointed by the Employee Benefits Advisory Committee of the Company) is the named investment fiduciary, but is not directly responsible for the management and control of the Plan assets. The Employee Benefits Advisory Committee acts on behalf of the Company as the Plan Sponsor, as defined by ERISA. Fidelity Workspace Services LLC (Fidelity) provides recordkeeping services with respect to the Plan.
Employee Contributions
The Plan allows for combined pretax and/or Roth after-tax contributions by eligible employees up to the limit under Code Section 402(g), in whole percentages of up to 50% of their eligible earnings, as defined by the Plan (50% Limit). In addition, eligible employees age 50 or older who contributed the maximum annual amount allowable under the pretax and/or Roth after-tax options in the Plan have the option of contributing an additional pretax catch-up contribution or Roth catch-up contribution in accordance with Code Section 414(v). The Plan also allows for traditional after-tax contributions up to the 50% Limit.
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
The table below presents the effective dates of the Roth after-tax and Roth catch-up contributions, subject to the 50% Limit, for the various eligible employee Participant groups covered by the Plan as of December 31, 2018 and 2017.
Participant Group * | Roth Contribution effective dates (includes after-tax and catch-up contributions) | |
NextEra Energy, Inc. and subsidiaries non-bargaining and certain bargaining unit employees not listed below | January 1, 2016 | |
Employees represented by the NextEra Energy Seabrook, LLC (NextEra Energy Seabrook) bargaining unit | January 1, 2017 | |
FPL bargaining unit employees and NextEra Energy Point Beach, LLC (NextEra Energy Point Beach) employees represented by the International Brotherhood of Electrical Workers (IBEW) 2150 | January 1, 2018 |
* | NextEra Energy Duane Arnold, LLC (NextEra Energy Duane Arnold) bargaining unit employees represented by IBEW 204 are not eligible for these provisions. |
The table below presents the auto enrollment Pretax Contributions for the various groups of eligible employees unless such employees revoke or modify their Pretax Contribution election within 60 days of their date of hire or rehire.
Participant Group * | Deemed Pretax Contribution | |
NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees not listed below | 3% for employees hired or rehired on or after January 1, 2015 but prior to April 1, 2018 and 7% for employees hired or rehired on or after April 1, 2018 | |
NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Blue Book (trade union)
NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Red, Green and White Books (professional union) through December 31, 2018, after which their benefit is as described above for the NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees | 3% for employees hired or rehired on or after January 1, 2008 | |
NextEra Energy Seabrook bargaining unit employees | 3% for employees hired or rehired on or after March 1, 2017 | |
NextEra Energy Maine Operating Services, LLC (NextEra Energy Maine) bargaining unit employees | 3% for employees hired or rehired on or after July 1, 2015 | |
FPL bargaining unit employees | 3% for employees hired or rehired on or after January 1, 2018 |
* | NextEra Energy Duane Arnold bargaining unit employees represented by IBEW 204 are not eligible for these provisions. |
Participants can elect to invest in any combination of different investment options offered under the Plan. Participants may change their investment elections daily, subject to Fidelity’s excessive trading policy and the Plan’s limitations on investments in Company Stock.
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
Employer Contributions
The Company provides matching contributions through the ESOP in the form of Company Stock. The table below presents the Employer contribution formula for the various Participant groups covered by the Plan as of December 31, 2018 and 2017.
Participant Group | Benefit | |
NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees not listed below | 100% on the first 3% of employee contributions 50% on the next 3% of employee contributions 25% on the next 1% of employee contributions | |
NextEra Energy Seabrook non-bargaining employees hired prior to November 1, 2002
NextEra Energy Seabrook bargaining unit employees hired prior to January 1, 2004
| 100% on the first 3% of employee contributions | |
NextEra Energy Duane Arnold non-bargaining employees hired prior to January 27, 2006
NextEra Energy Duane Arnold bargaining unit employees
NextEra Energy Point Beach non-bargaining employees hired prior to September 28, 2007 through December 31, 2018, after which their benefit is as described above for the NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees
NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Red, Green and White Books, through December 31, 2018, after which their benefit is as described above for the NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees | 100% on the first 3% of employee contributions 50% on the next 2% of employee contributions | |
NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Blue Book through December 31, 2017, after which their benefit is as described above for the NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees | 100% on the first 1% of employee contributions 50% on the next 6% of employee contributions |
Forfeitures
Forfeitures of non-vested Company matching contributions due to termination of employment may be used to restore amounts previously forfeited or to reduce the amount of future Company matching contributions to the Plan or may be applied to administrative expenses. Forfeitures used to reduce Employer contributions in 2018 totaled $1,802,958 and forfeitures applied to administrative fees in 2018 totaled $116,603. At December 31, 2018 and 2017, the balance of the forfeiture account was $223,186 and $133,798, respectively.
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
Vesting
Participants are immediately 100% vested in employee contributions.
The table below presents the vesting schedule for Company matching contributions of the various Participant groups covered by the Plan as of December 31, 2018 and 2017.
Participant Group | Vesting of Company Match | |
NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees, not listed below | Company matching contributions are vested 20% for each year of service and are fully vested upon a Participant attaining five years of service | |
NextEra Energy Seabrook non-bargaining employees hired prior to November 1, 2002
NextEra Energy Duane Arnold non-bargaining employees hired prior to January 27, 2006
NextEra Energy Duane Arnold bargaining unit employees existing on the date of acquisition of the Duane Arnold Energy Center (January 27, 2006)
NextEra Energy Point Beach non-bargaining employees hired prior to September 28, 2007
NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Red, Green and White Books existing on the date of acquisition of the Point Beach Nuclear Plant (September 28, 2007) and hired on or after September 28, 2007 but prior to January 1, 2019
NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Blue Book existing on the date of acquisition of the Point Beach Nuclear Plant (September 28, 2007)
NextEra Energy Seabrook bargaining unit employees hired prior to January 1, 2009 | Company matching contributions are fully vested immediately | |
NextEra Energy Maine non-bargaining employees hired prior to August 1, 2006
NextEra Energy Maine bargaining unit employees hired prior to May 15, 2008 | Company matching contributions are fully vested after attaining six months of service | |
NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 Blue Book hired on or after September 28, 2007 but prior to January 1, 2018 | Company matching contributions are fully vested after attaining one year of service |
Upon death, total and permanent disability or certain other circumstances an employee may become 100% vested. In addition, in certain circumstances, such as acquisitions or divestitures, the Plan may recognize previous service for vesting purposes.
Participant Loans
Each Participant may borrow from his or her account a minimum of $1,000 up to a maximum of $50,000 or 50% of the vested value of the account (reduced by any outstanding loans), whichever is less. The vested portion of a Participant’s account will be pledged as security for the loan. Participants may not have more than two loans outstanding from the Plan at any time. Participant loans have a fixed annual interest rate based on the prime rate which is updated quarterly. Loans outstanding at December 31, 2018 carry an interest rate of 3.25% to 5.25% and mature between 2019 and 2025.
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
Benefit Payments and Withdrawals
Withdrawals by Participants from their accounts during their employment are permitted with certain penalties and restrictions. The penalties may limit a Participant’s contributions to the Plan for varying periods following a withdrawal. Upon termination from employment, Participants are eligible to receive a distribution of the full value of their vested account balance. Terminated Participants can elect to receive a full payment, partial payments, or installments over a period of up to ten years.
Administrative Expenses
The Company pays a portion of the administrative expenses of the Plan. Additionally, Plan participants pay a fee of $61 per year to cover some of the administrative expenses of the Plan. All other expenses are paid directly by the Plan through forfeitures or revenue sharing that the Plan receives either directly or indirectly from certain of the Plan’s investment options. Any fees paid directly by the Company are not included in the financial statements.
Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, Participants will become 100% vested in their accounts.
2. Summary of Significant Accounting Policies
Basis of Accounting
The financial statements of the Plan are prepared under the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.
Use of Estimates
The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Investment Valuation
The Plan’s investments are reported at fair value, except for the fully benefit-responsive investment contracts, which are reported at contract value. Fair value measurement guidance emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and sets out a fair value hierarchy intended to disclose information about the relative reliability of fair value measurements, with the highest priority being unadjusted quoted prices in active markets for identical assets or liabilities.
In some cases, a valuation approach used to measure fair value may include inputs from multiple levels of fair value hierarchy. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.
The Plan recognizes transfers into and out of fair value hierarchy levels at the beginning of the period.
The following are descriptions of the valuation methods and assumptions used by the Plan to estimate the fair values of investments held by the Plan.
Registered investment companies (mutual funds), Company Stock, and common stock: Investments in shares of registered investment companies are valued at quoted market prices in active markets (Level 1 inputs), which represent the net asset value of such shares at year-end. Investments in shares of actively traded money market mutual funds are stated at the net asset value of such shares held at year-end (Level 1 inputs). Company Stock and other publicly traded common stock are valued at their quoted market price in active markets (Level 1 inputs). Certain common stock is valued using significant unobservable inputs (Level 3 inputs).
Collective trust funds: The fair values of participation units held in collective trust funds are based on the net asset value per unit share reported by the fund manager as of the financial statement dates and on recent transaction prices (Level 2 inputs). Each collective trust fund provides for daily redemptions reported at net asset value per unit share, with no advance notice requirement.
The following is a description of the valuation methods and assumptions used by the Plan to report the contract value of the fully benefit-responsive synthetic guaranteed investment contracts held by the Plan.
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
Investment contracts (wrapper contracts): The Managed Income Fund holds fully benefit-responsive investment contracts (wrapper contracts) (see Note 7 – Managed Income Fund) with various insurance companies and financial institutions in order to provide Participants with a stable, fixed-rate of return on investments and protection of principal from changes in market interest rates. The crediting interest rate resets monthly and is based on an agreed-upon formula with the issuers, but cannot be less than zero. The key factors that influence future rates could include the following: the level of market interest rates, the difference between the fully benefit-responsive investment contracts’ book and market values, the amount and timing of Participant contributions, transfers and withdrawals into/out of the fully benefit-responsive investment contracts, and the duration of the underlying investments backing the fully benefit-responsive investment contracts.
The wrapper contracts within the Managed Income Fund are a synthetic guaranteed investment contract which is valued at the contract value of the underlying investments of the contracts, primarily debt securities and wrapper contracts. The underlying investments in the Managed Income Fund include U.S. Treasury notes, asset-backed and mortgage-backed securities, corporate bonds and government agency notes. The contracts are unallocated in nature and are fully benefit-responsive. Therefore, net assets available for benefits reflects the contract value of the Managed Income Fund. There are no reserves against contract values (which represent contributions made under the contract, plus earnings, less withdrawals and administrative expenses) for credit risk of the contract issuer or otherwise. Wrapper contracts provide the Managed Income Fund with the ability to use contract value accounting to maintain a constant $1.00 unit price. Wrapper contracts also provide for the payment of participant-directed withdrawals and exchanges at contract value (principal and interest accrued to date) during the term of the wrapper contracts. However, withdrawals prompted by certain events (e.g., layoffs, retirement during specified early retirement window periods, spin-offs, sale of a division, facility closings, plan terminations, partial plan terminations, changes in law or regulation, material breach of contract responsibilities, loss of the Plan’s qualified status, etc.) may be paid at fair value which may be less than contract value. Currently, management believes that the occurrence of an event that would cause the Plan to be paid at less than contract value is not probable. A contract issuer may terminate a wrapper contract at any time; however, if the fair value of the contract is less than the contract value, the contract issuer can either hold the contract until the fair value and contract value are equal or make up the difference between the two. If the funds in the wrapper contracts are needed for benefit payments prior to contract maturity, they may be withdrawn without penalty.
Investment Income Recognition
Purchases and sales of investment securities are recorded on the trade date. Gains or losses on sales of investment securities are determined using the average cost method of the securities. The carrying amounts of securities held in Participants’ accounts are adjusted daily. Unrealized appreciation or depreciation is recorded to recognize changes in fair value. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.
Payment of Benefits
Benefits distributed to Participants are recorded when paid.
Participant Loans
Participant loans are reported at their unpaid principal balance plus any accrued but unpaid interest, with no allowance for credit losses, as repayments of principal and interest are received through payroll deductions and the loans are collateralized by the Participants’ account balances in the Plan.
3. Risks and Uncertainties
Investment securities, in general, are exposed to various risks, such as interest rate, credit, liquidity and overall market volatility, which could result in changes in the value of such securities. Due to the level of risk associated with certain types of investment securities, it is at least reasonably possible that changes in the values of the investment securities will occur in the near term and that such changes could materially affect Participants’ account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits.
4. Nonparticipant-Directed Investments
The “Nonparticipant-Directed” net assets of the Plan and changes therein represent Employer contributions into the ESOP component of the Plan. Participants have the option to reinvest nonparticipant-directed shares daily among any of the other investment options available under the Plan.
10
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
5. Parties-In-Interest Transactions
Parties-in-interest are defined under Department of Labor (DOL) regulations as any fiduciary of the Plan, any party rendering service to the Plan, the Employer, and certain others.
Dividend income earned by the Plan includes dividends on Company Stock. In accordance with the Plan and the Company’s Dividend Reinvestment and Direct Stock Purchase Plan in which the Trustee participates, participants may elect to reinvest dividends in Company Stock or receive dividends in cash. During 2018, dividends on shares of Company Stock held in Participants’ accounts totaled $46,891,512.
During 2018, employer contributions of Company Stock credited to Participant’s accounts totaled $54,249,486 which equates to 331,636 shares. Realized gains on shares of Company Stock sold by Participants during the current Plan year totaled $10,005,355. At December 31, 2018 and 2017, the number of shares of Company Stock held in Participants’ accounts totaled 10,357,975 and 10,958,146, respectively, with a fair value of $1,800,423,167 and $1,711,552,781, respectively.
Certain fees were paid by the Plan to the managers of the investments held in the Plan and certain Plan investments are managed by an affiliate of the Trustee or investment advisors of the Plan. These transactions qualify as party-in-interest transactions. The Plan also pays for various administrative expenses to service providers which constitute party-in-interest transactions. Additionally, the Plan reimburses the Company for a portion of the costs incurred in the administration of the Plan which are considered party-in-interest transactions. Participant loans held by the Plan of $71,944,590 and $69,958,932 at December 31, 2018 and December 31, 2017, respectively, are also considered party-in-interest transactions.
6. Investments
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets that are measured at fair value on a recurring basis as of December 31, 2018:
Fair Value Measurements | ||||||||||||||||
At December 31, 2018 using | ||||||||||||||||
Quoted Prices | Significant | |||||||||||||||
in Active | Other | Significant | ||||||||||||||
Markets for | Observable | Unobservable | ||||||||||||||
Identical Assets | Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Participant-directed investments: | ||||||||||||||||
Registered investment companies | $ | 394,120,141 | $ | — | $ | — | $ | 394,120,141 | ||||||||
Collective trust funds | — | 1,444,410,489 | — | 1,444,410,489 | ||||||||||||
Common stock other than NextEra Energy, Inc. common stock | 408,246,861 | — | 2,016,755 | 410,263,616 | ||||||||||||
NextEra Energy, Inc. common stock | 514,043,592 | — | — | 514,043,592 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total participant-directed investments | 1,316,410,594 | 1,444,410,489 | 2,016,755 | 2,762,837,838 | ||||||||||||
Nonparticipant-directed investments: | ||||||||||||||||
NextEra Energy, Inc. common stock | 1,286,379,575 | — | — | 1,286,379,575 | ||||||||||||
Registered investment companies | 10,305,952 | — | — | 10,305,952 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total nonparticipant-directed investments | 1,296,685,527 | — | — | 1,296,685,527 | ||||||||||||
Total investments in the fair value heirarchy | 2,613,096,121 | 1,444,410,489 | 2,016,755 | 4,059,523,365 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments at contract value | 282,869,282 | |||||||||||||||
|
| |||||||||||||||
Total investments | $ | 4,342,392,647 | ||||||||||||||
|
|
During the 2018 Plan year there were no transfers between investment levels.
11
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets that are measured at fair value on a recurring basis as of December 31, 2017:
Fair Value Measurements | ||||||||||||||||
At December 31, 2017 using | ||||||||||||||||
Quoted Prices | Significant | |||||||||||||||
in Active | Other | Significant | ||||||||||||||
Markets for | Observable | Unobservable | ||||||||||||||
Identical Assets | Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
Participant-directed investments: | ||||||||||||||||
Registered investment companies | $ | 426,956,812 | $ | — | $ | — | $ | 426,956,812 | ||||||||
Collective trust funds | — | 1,615,240,260 | — | 1,615,240,260 | ||||||||||||
Common stock other than NextEra Energy, Inc. common stock | 366,789,979 | — | 2,628,725 | 369,418,704 | ||||||||||||
NextEra Energy, Inc. common stock | 505,405,823 | — | — | 505,405,823 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total participant-directed investments | 1,299,152,614 | 1,615,240,260 | 2,628,725 | 2,917,021,599 | ||||||||||||
Nonparticipant-directed investments: | ||||||||||||||||
NextEra Energy, Inc. common stock | 1,206,146,958 | — | — | 1,206,146,958 | ||||||||||||
Registered investment companies | 10,270,951 | — | — | 10,270,951 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total nonparticipant-directed investments | 1,216,417,909 | 1,216,417,909 | ||||||||||||||
Total investments in the fair value heirarchy | 2,515,570,523 | 1,615,240,260 | 2,628,725 | 4,133,439,508 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments at contract value | 281,704,258 | |||||||||||||||
|
| |||||||||||||||
Total investments | $ | 4,415,143,766 | ||||||||||||||
|
|
During the 2017 Plan year there were no transfers between investment levels.
7. Managed Income Fund
The contract value of fully benefit-responsive investment contracts was $282,869,282 and $281,704,258, respectively, at December 31, 2018 and 2017. The contract value of fully benefit-responsive investment contracts includes a short-term collective investment trust in the amount of $9,662,516 and $3,417,857, respectively, at December 31, 2018 and 2017. Pending trades due to brokers related to fully benefit-responsive investment contracts are $7,698,293 and $0, respectively at December 31, 2018 and 2017. The contract value of fully benefit-responsive investment contracts excludes short term investments in registered investment companies that are not covered by the wrapper contracts. These investments are reported at fair value in the amount of $9,721,874 and $4,206,125, respectively, at December 31, 2018 and 2017.
8. Income Taxes
On June 17, 2015, the Internal Revenue Service (IRS) made a favorable determination that the Plan meets the requirements of Section 401(a) of the Code. The Plan has been amended since receiving the favorable determination letter and due to expiry of the determination letter program, no new letter is expected. The Company and the plan administrator believe that the Plan is currently designed and operated in material compliance with the applicable requirements of the Code and that the Plan continues to be tax-exempt. The Trust established under the Plan will generally be exempt from federal income taxes under Section 501(a) of the Code; Company contributions paid to the Trust under the Plan will be allowable federal income tax deductions of the Company subject to the conditions and limitations of Section 404 of the Code; and the Plan meets the requirements of Section 401(k) of the Code allowing Pretax Contributions to be exempt from federal income tax at the time such contributions are made, provided that in operation the Plan and Trust meet the applicable provisions of the Code. Participants are given the option to receive dividend distributions on Company Stock in cash; all vested dividends earned by Participants are deductible by the Company.
Company matching contributions to the Plan on a Participant’s behalf, the Participant’s Pretax Contributions, and the earnings thereon generally are not taxable to the Participant until such Company matching contributions, Pretax Contributions, and earnings thereon are distributed or withdrawn. Participant’s Roth after-tax contributions and the earnings thereon generally are not taxable to the Participant if made as a qualified distribution. Earnings on traditional after-tax contributions are not taxable to the Participant until distributed or withdrawn. A loan from a Participant’s account generally will not represent a taxable distribution if the loan is repaid in a timely manner and does not exceed certain limitations.
Accounting principles generally accepted in the United States of America require plan administrators to evaluate tax positions taken by the Plan. The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2018 and 2017, respectively, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing and regulatory authorities, and IRS and DOL audits are currently in progress for plan years after 2013. The plan administrator believes it is no longer subject to income tax examinations by the IRS for years prior to 2014.
12
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
9. Subsequent Events
On January 1, 2019, the Company acquired Gulf Power Company (Gulf Power) from The Southern Company (Southern). Gulf Power employees are eligible to participate in the Plan as of the first of the month following one full month of service, including prior service with Southern. Gulf Power non-bargaining employees’ matching contributions are vested 20% for each year of service and are fully vested upon a Participant attaining five years of service (which includes prior service with Southern). Gulf Power bargaining employees’ matching contributions are vested immediately. On the date of the Gulf Power acquisition, eligible employees were able to begin deferrals into the Plan and could rollover 401(k) account balances from Southern. The acquisition resulted in a 5% increase in total Plan participants. In addition, eligible employees with loan balances were given a choice prior to the acquisition to participate in a group rollover of Southern 401(k) balances and loans into the Plan. The group rollover included approximately $28 million (unaudited) of Southern 401(k) balances and occurred in March of 2019.
13
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
Common Stock: | ||||||||
ACTIVISION BLIZZARD INC | 25,700 | ** | $1,196,849 | |||||
ALEXION PHARMACEUTICALS INC | 16,947 | ** | 1,649,960 | |||||
ALIBABA GROUP HOLDING LTD SPON ADR | 36,098 | ** | 4,947,953 | |||||
ALPHABET INC CL A | 13,069 | ** | 13,656,582 | |||||
ALPHABET INC CL C | 6,592 | ** | 6,826,741 | |||||
AMAZON.COM INC | 15,840 | ** | 23,791,205 | |||||
AMERICAN WATER WRKS COMPANY | 14,500 | ** | 1,316,165 | |||||
ANTHEM INC | 15,153 | ** | 3,979,632 | |||||
APPLE INC | 28,842 | ** | 4,549,537 | |||||
APTIV PLC | 53,426 | ** | 3,289,439 | |||||
ASML HLDG NV (NY REG SHS) NEW YORK REGISTERED SHAR | 7,200 | ** | 1,120,464 | |||||
BECTON DICKINSON & CO | 26,976 | ** | 6,078,232 | |||||
BOEING CO | 46,153 | ** | 14,884,343 | |||||
CENTENE CORP | 15,428 | ** | 1,778,848 | |||||
CIGNA CORP | 44,259 | ** | 8,405,669 | |||||
DOLLAR GENERAL CORP | 34,622 | ** | 3,741,946 | |||||
FACEBOOK INC CL A | 84,419 | ** | 11,066,487 | |||||
FIDELITY NATL INFORM SVCS INC | 9,909 | ** | 1,016,168 | |||||
FORTIVE CORP | 18,282 | ** | 1,236,960 | |||||
GLOBAL PAYMENTS INC | 30,695 | ** | 3,165,575 | |||||
HCA HEALTHCARE INC | 38,183 | ** | 4,751,874 | |||||
HILTON WORLDWIDE HOLDINGS INC | 40,744 | ** | 2,925,419 | |||||
HONEYWELL INTL INC | 10,716 | ** | 1,415,798 | |||||
HUMANA INC | 8,204 | ** | 2,350,282 | |||||
IAC/INTERACTIVECORP | 7,400 | ** | 1,354,496 | |||||
INTERCONTINENTAL EXCHANGE INC | 35,700 | ** | 2,689,281 | |||||
INTUIT INC | 25,786 | ** | 5,075,974 | |||||
INTUITIVE SURGICAL INC | 13,811 | ** | 6,614,364 | |||||
KANSAS CITY SOUTHERN | 13,618 | ** | 1,299,838 | |||||
LAS VEGAS SANDS CORP | 31,600 | ** | 1,644,780 | |||||
LILLY (ELI) & CO | 26,700 | ** | 3,089,724 | |||||
MAXIM INTEGRATED PRODUCTS INC | 29,555 | ** | 1,502,872 | |||||
MCDONALDS CORP | 10,446 | ** | 1,854,896 | |||||
MICROSOFT CORP | 187,000 | ** | 18,993,590 | |||||
MORGAN STANLEY | 50,789 | ** | 2,013,784 | |||||
NETFLIX INC | 11,677 | ** | 3,125,466 | |||||
NIKE INC CL B | 36,429 | ** | 2,700,846 | |||||
NORTHROP GRUMMAN CORP | 12,358 | ** | 3,026,474 | |||||
PAYPAL HLDGS INC | 45,900 | ** | 3,859,731 | |||||
PHILIP MORRIS INTL INC | 41,210 | ** | 2,751,180 | |||||
RED HAT INC | 36,307 | ** | 6,376,961 | |||||
RESTAURANT BRANDS INTERNATIONAL INC | 35,100 | ** | 1,835,730 | |||||
ROSS STORES INC | 39,800 | ** | 3,311,360 | |||||
SALESFORCE.COM INC | 29,800 | ** | 4,081,706 | |||||
SCHWAB CHARLES CORP | 120,447 | ** | 5,002,164 |
14
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
SEMPRA ENERGY | 17,333 | ** | 1,875,257 | |||||
SERVICENOW INC | 12,418 | ** | 2,211,025 | |||||
SPIRIT AEROSYSTEM HLD INC CL A | 20,897 | ** | 1,506,465 | |||||
SPLUNK INC | 23,100 | ** | 2,422,035 | |||||
STRYKER CORP | 39,901 | ** | 6,254,482 | |||||
TD AMERITRADE HOLDING CORP | 43,264 | ** | 2,118,205 | |||||
TENCENT HOLDINGS LTD UNS ADR | 173,814 | ** | 6,860,439 | |||||
TESLA INC | 11,058 | ** | 3,680,102 | |||||
THE BOOKING HOLDINGS INC | 3,109 | ** | 5,355,004 | |||||
UBER TECHNOLOGIES INC CL A P/P | 216 | ** | 10,534 | |||||
UNITEDHEALTH GROUP INC | 36,100 | ** | 8,993,232 | |||||
VERTEX PHARMACEUTICALS INC | 29,550 | ** | 4,896,731 | |||||
VISA INC CL A | 104,700 | ** | 13,814,118 | |||||
VMWARE INC CL A | 33,527 | ** | 4,597,558 | |||||
WASTE CONNECTIONS INC (US) | 31,250 | ** | 2,320,313 | |||||
WELLCARE HEALTH PLANS INC | 6,755 | ** | 1,594,788 | |||||
WORKDAY INC CL A | 16,743 | ** | 2,673,522 | |||||
AIRBNB INC SER E PC PP | 2,935 | ** | 275,244 | |||||
AIRBNB PC D PP | 6,435 | ** | 603,474 | |||||
MAGIC LEAP INC PC SER C PP | 10,937 | ** | 216,443 | |||||
MAGIC LEAP INC PC SER D PP | 3,654 | ** | 72,313 | |||||
UBER TECH INC SER A PC PP | 31 | ** | 1,512 | |||||
UBER TECH INC SER B PC PP | 82 | ** | 3,999 | |||||
UBER TECH INC SER C-1 PC PP | 21 | ** | 1,024 | |||||
UBER TECH INC SER C-2 PC PP | 18 | ** | 878 | |||||
UBER TECH INC SER D PC PP | 20 | ** | 975 | |||||
UBER TECH INC SER SEED PC PP | 79 | ** | 3,853 | |||||
UBER TECHN INC SER G-1 PC PP | 47 | ** | 2,292 | |||||
UBER TECHNOLOGIES 8% PC E PP | 10,657 | ** | 519,742 | |||||
UBER TECHNOLOGIES SER G PP | 6,243 | ** | 304,471 | |||||
ABIOMED INC | 7,829 | ** | 2,544,738 | |||||
AFFILIATED MANAGERS GRP INC | 23,933 | ** | 2,332,032 | |||||
AMAG PHARMACEUTICALS INC | 148,341 | ** | 2,253,300 | |||||
BIO TECHNE CORP | 43,735 | ** | 6,329,329 | |||||
CARS.COM INC | 238,343 | ** | 5,124,375 | |||||
COUPA SOFTWARE INC | 73,736 | ** | 4,635,045 | |||||
DUNKIN BRANDS GROUP INC | 87,416 | ** | 5,605,114 | |||||
EQUITY COMMONWEALTH | 278,590 | ** | 8,360,486 | |||||
EXPEDITORS INTL OF WASH INC | 54,068 | ** | 3,681,490 | |||||
GCI LIBERTY INC CL A | 60,339 | ** | 2,483,553 | |||||
GRACO INC | 96,446 | ** | 4,036,265 | |||||
HAEMONETICS CORP MASS | 30,972 | ** | 3,098,749 | |||||
J2 GLOBAL INC | 101,060 | ** | 7,011,543 | |||||
LENDINGTREE INC | 22,882 | ** | 5,024,201 | |||||
LIBERTY FORMULA ONE-C | 104,417 | ** | 3,205,602 | |||||
LIBERTY TRIPADVISOR HOLDG A WI | 379,404 | ** | 6,028,730 |
15
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
LIVERAMP HOLDINGS INC | 198,215 | ** | 7,657,045 | |||||
LOGITECH INTL SA REG | 107,449 | ** | 3,380,123 | |||||
MSCI INC | 13,275 | ** | 1,957,133 | |||||
NEW YORK TIMES CO CL A | 338,727 | ** | 7,550,225 | |||||
PAYCOM SOFTWARE INC | 40,600 | ** | 4,971,470 | |||||
PORTOLA PHARMACEUTICALS INC | 93,575 | ** | 1,826,584 | |||||
REDFIN CORP | 301,957 | ** | 4,348,181 | |||||
STITCH FIX | 141,673 | ** | 2,421,192 | |||||
TRIPADVISOR INC | 46,215 | ** | 2,492,837 | |||||
UBIQUITI NETWORKS INC | 15,948 | ** | 1,585,391 | |||||
VARONIS SYSTEMS INC | 63,051 | ** | 3,335,398 | |||||
WIX.COM LTD | 46,174 | ** | 4,171,359 | |||||
WYNDHAM HOTELS & RESORTS INC | 98,852 | ** | 4,484,914 | |||||
YELP INC | 108,312 | ** | 3,789,837 | |||||
* | NEXTERA ENERGY, INC. (PARTICIPANT DIRECTED) | 2,957,333 | ** | 514,043,592 | ||||
* | NEXTERA ENERGY, INC. (NON-PARTICIPANT DIRECTED) | 7,400,642 | 230,340,879 | 1,286,379,575 | ||||
|
| |||||||
Total Common Stock | 230,340,879 | $2,210,686,783 | ||||||
|
| |||||||
Collective Trust Funds: | ||||||||
* | ARISTOTLE SM CAP EQ | 7,472,327 | ** | $77,338,580 | ||||
* | BLKRK 2000 INDEX M | 708,118 | ** | 12,807,794 | ||||
* | BTC ACWI EX US IMI M | 2,848,296 | ** | 34,556,946 | ||||
* | BTC EQUITY INDEX M | 8,260,891 | ** | 170,437,054 | ||||
* | BTC RUSSELL 3000 M | 5,474,304 | ** | 75,373,500 | ||||
* | BTC US DEBT INDEX W | 2,281,842 | ** | 49,420,475 | ||||
* | C&S US REALTY B | 3,714,946 | ** | 46,956,923 | ||||
* | FID LOW PR STK POOL | 5,490,515 | ** | 70,168,777 | ||||
* | FISHER EMERGING MKTS | 1,036,376 | ** | 11,369,043 | ||||
* | LS CORE PL FXINC D | 4,142,987 | ** | 60,156,168 | ||||
* | PIMCO DIVRSD RL AST | 763,573 | ** | 10,071,525 | ||||
* | VANGUARD TARGET 2015 | 2,106,040 | ** | 104,943,982 | ||||
* | VANGUARD TARGET 2020 | 112,696 | ** | 5,728,360 | ||||
* | VANGUARD TARGET 2025 | 5,435,703 | ** | 275,427,058 | ||||
* | VANGUARD TARGET 2030 | 97,278 | ** | 4,929,091 | ||||
* | VANGUARD TARGET 2035 | 4,397,646 | ** | 225,687,214 | ||||
* | VANGUARD TARGET 2040 | 71,411 | ** | 3,750,501 | ||||
* | VANGUARD TARGET 2045 | 2,319,426 | ** | 121,514,742 | ||||
* | VANGUARD TARGET 2050 | 64,419 | ** | 3,394,892 | ||||
* | VANGUARD TARGET 2055 | 490,479 | ** | 31,518,195 | ||||
* | VANGUARD TARGET 2060 | 14,900 | ** | 502,738 | ||||
* | VANGUARD TARGET 2065 | 86,398 | ** | 1,793,627 | ||||
* | VANGUARD TARGET RET | 780,638 | ** | 39,227,075 | ||||
* | SSBK GOVERNMENT STIF FUND (US LARGE CAP GROWTH FUND) | 4,983,179 | ** | 4,983,179 | ||||
* | SSBK STIF FUND (SMALL MID CAP GROWTH FUND) | 2,353,050 | ** | 2,353,050 | ||||
* | SSBK STIF FUND (MANAGED INCOME FUND) | 9,662,516 | ** | 9,662,516 | ||||
|
| |||||||
Total Collective Trust Funds | — | $1,454,073,005 | ||||||
|
|
16
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
Registered Investment Companies: | ||||||||
* | EATON VANCE FLOATING-RATE & HIGH INCOME FUND R6 | �� | 2,322,809 | ** | $19,720,649 | |||
* | VANGUARD PRIME CAP CORE FUND | 4,358,272 | ** | 101,983,567 | ||||
* | VANGUARD VMMR-FED MONEY MARKET | 97,811,643 | ** | 97,811,643 | ||||
* | JPM EQUITY INCOME R6 FUND | 5,482,422 | ** | 86,896,394 | ||||
* | AF EUROPAC GROWTH R6 | 1,706,951 | ** | 76,795,723 | ||||
* | FIDELITY INSTITUTIONAL CASH PORTFOLIO (NEXTERA ENERGY, INC. PARTICIPANT DIRECTED) | 1,190,291 | ** | 1,190,291 | ||||
* | FIDELITY INSTITUTIONAL CASH PORTFOLIO (NEXTERA ENERGY, INC. NON-PARTICIPANT DIRECTED) | 10,305,952 | 10,305,952 | 10,305,952 | ||||
* | FIDELITY INSTITUTIONAL CASH PORTFOLIO (MANAGED INCOME FUND) | 9,721,874 | ** | 9,721,874 | ||||
|
| |||||||
Total Registered Investment Companies | 10,305,952 | $404,426,093 | ||||||
|
| |||||||
U.S. Treasury Notes: | ||||||||
USTN 2.375% 8/15/24 | 4,918,000 | ** | $4,917,133 | |||||
USTN 2% 08/15/25 | 8,419,000 | ** | 8,182,847 | |||||
USTN 1.75% 12/31/20 | 27,175,000 | ** | 26,784,480 | |||||
USTN 1.75% 11/30/21 | 12,398,000 | ** | 12,166,471 | |||||
USTN 1.875% 06/30/20 | 143,000 | ** | 141,577 | |||||
UST NOTE 1.875% 03/31/22 | 20,042,000 | ** | 19,724,523 | |||||
UST NOTES 1.625% 07/31/20 | 14,969,000 | ** | 14,857,059 | |||||
USTN 1.375% 08/31/23 | 9,223,000 | ** | 8,810,431 | |||||
USTN 1.875% 07/31/22 | 13,786,000 | ** | 13,608,312 | |||||
|
| |||||||
Total U.S. Treasury Notes | — | $109,192,833 | ||||||
|
| |||||||
Government Agency Notes: | ||||||||
NYC TFA (PIT) 2.05% 08/01/23 | 165,000 | ** | $159,139 | |||||
NYC TFA (PIT) 2.85% 02/01/24 | 155,000 | ** | 153,638 | |||||
NYS UDC 2.67% 03/15/23 | 775,000 | ** | 771,979 | |||||
NYS UDC 2.7% 03/15/23 | 630,000 | ** | 628,344 | |||||
|
| |||||||
Total Government Agency Notes | — | $1,713,100 | ||||||
|
| |||||||
Mortgage Backed Securities: | ||||||||
FHLG 7.50% 7/34 #G02115 | 75,613 | ** | $85,979 | |||||
FHLG 15YR 5.00% 4/20 #G13598 | 1,622 | ** | 1,640 | |||||
FHLG 15YR 3.5% 08/30#G15273 | 364,152 | ** | 370,722 | |||||
FHLG 15YR 2.5% 10/31#G16387 | 619,349 | ** | 611,111 | |||||
FHLG 25YR 5.50% 7/35 #G05815 | 33,369 | ** | 35,882 | |||||
FHLG 20YR 3.5% 06/32#C91456 | 567,846 | ** | 577,914 | |||||
FHLG 5.50% 3/34 #G01665 | 48,880 | ** | 52,597 | |||||
FHLG 15YR 4.00% 9/25 #E02787 | 85,908 | ** | 88,192 | |||||
FHLG 15YR 4.00% 4/26 #E02867 | 50,225 | ** | 51,633 | |||||
FHLG 15YR 3% 05/29#J29409 | 916,840 | ** | 920,605 | |||||
FHLG 5.50% 5/34 #Z40042 | 367,230 | ** | 394,544 | |||||
FHLG 20YR 3% 11/33#G30872 | 550,195 | ** | 552,412 | |||||
FHLG 20YR 3.5% 05/38#G31067 | 299,958 | ** | 305,276 | |||||
FHMS 2013-K025 A2 2.682% 10/22 | 137,000 | ** | 136,292 | |||||
FHMS K724 A1 2.776% 03/23 | 185,868 | ** | 185,370 | |||||
FHMS K035 A2 3.458% 08/23 | 632,000 | ** | 646,516 | |||||
FHMS 2017-K727 A1 2.632% 10/23 | 131,209 | ** | 130,521 | |||||
FHMS 2018-K079 A1 3.729% 02/28 | 172,928 | ** | 178,837 |
17
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
FNMA 5.50% 11/34 #310105 | 264,826 | ** | 285,230 | |||||
FNMA 15YR 3.5% 07/26#AI7819 | 28,772 | ** | 29,296 | |||||
FNMA 15YR 3.50% 1/26 #AL1168 | 72,893 | ** | 74,179 | |||||
FNMA 15YR 3.50% 3/27 #AL1746 | 340,808 | ** | 347,213 | |||||
FNMA 20YR 2.5% 01/33#AL2974 | 163,382 | ** | 160,351 | |||||
FNMA 20YR 2.5% 01/33#AL2975 | 183,068 | ** | 179,671 | |||||
FNMA 20YR 2.5% 01/33#AL2976 | 109,927 | ** | 107,887 | |||||
FNMA 20YR 2.5% 01/33#AL2982 | 129,532 | ** | 127,128 | |||||
FNMA 15YR 3.5% 10/29#AL5851 | 122,568 | ** | 124,875 | |||||
FNMA 15YR 3.5% 09/29#AL5878 | 298,636 | ** | 304,258 | |||||
FNMA 15YR 4.5% 11/25#AL8242 | 180,538 | ** | 186,763 | |||||
FNMA 15YR 3% 09/31#AL8853 | 1,442,701 | ** | 1,450,992 | |||||
FNMA 15YR 3.5% 01/27 #AX1909 | 131,781 | ** | 134,303 | |||||
FNMA 6.50% 7/32 #545759 | 13,293 | ** | 14,920 | |||||
FNMA 6.50% 7/32 #545762 | 7,672 | ** | 8,610 | |||||
FNMA 3.5% 07/32#BM3929 | 848,264 | ** | 863,833 | |||||
FNMA 15YR 4% 08/27#BM4533 | 692,736 | ** | 711,273 | |||||
FNMA 6.50% 12/32 #735415 | 7,933 | ** | 8,904 | |||||
FNMA 6.50% 7/35 #745092 | 8,691 | ** | 9,800 | |||||
FNMA 6.50% 8/36 #888034 | 11,653 | ** | 13,069 | |||||
FNMA 6.50% 8/36 #888544 | 37,425 | ** | 42,082 | |||||
FNMA 10YR 2% 08/23#MA1535 | 293,172 | ** | 290,402 | |||||
FNMA 6.50% 12/35 #AD0723 | 46,301 | ** | 51,969 | |||||
FNMA 6.50% 8/36 #AE0746 | 33,605 | ** | 37,772 | |||||
BMARK 2018-B2 A2 3.6623% 02/51 | 577,000 | ** | 586,608 | |||||
BMARK 2018-B7 A2 4.377% 05/53 | 328,000 | ** | 344,382 | |||||
BMARK 2018-B8 A2 4.2122% 01/52 | 382,000 | ** | 397,445 | |||||
COMM 2015-CR22 A2 2.856% 03/48 | 214,000 | ** | 213,885 | |||||
COMM 2015-CR22 ASB 3.144% 3/48 | 211,000 | ** | 211,481 | |||||
COMM 15-CR23 ASB 3.257% 05/48 | 244,000 | ** | 245,565 | |||||
COMM 15-CR26 ASB 3.373% 10/48 | 163,000 | ** | 164,763 | |||||
CSMC 16-NXSR A1 1.9708% 12/49 | 112,177 | ** | 110,321 | |||||
CSAIL 17-CX9 A2 3.0538% 09/50 | 460,000 | ** | 457,879 | |||||
COMM 2012-LC4 A4 3.288% 12/44 | 668,647 | ** | 670,443 | |||||
COMM 2012-CR2 A3 2.841 8/45 | 680,000 | ** | 673,318 | |||||
COMM 2012-CR3 ASB 2.372% 11/45 | 322,122 | ** | 319,002 | |||||
COMM 2012-CR3 A3 2.822% 10/45 | 312,687 | ** | 308,290 | |||||
COMM 2013-CR6 A4 3.101% 03/46 | 358,000 | ** | 356,916 | |||||
COMM 2013-CR7 A4 3.213% 03/46 | 475,798 | ** | 476,555 | |||||
COMM 2013-CR8 A5 3.612% 06/46 | 209,000 | ** | 212,317 | |||||
COMM 2014-CR18 A2 2.924% 07/47 | 309,859 | ** | 309,904 | |||||
CSAIL 2015-C2 ASB 3.2241% 6/57 | 169,000 | ** | 168,911 | |||||
CSAIL 2016-C7 A1 1.5786% 11/49 | 120,917 | ** | 119,439 | |||||
CGCMT 2016-P6 A1 1.884% 12/49 | 58,076 | ** | 57,239 | |||||
CGCMT 2012-GC8 A4 3.024% 9/45 | 425,000 | ** | 424,218 | |||||
CGCMT 13-GC11 A4 3.093% 04/46 | 82,000 | ** | 81,621 | |||||
CGCMT 13-GC15 A4 4.371% 9/46 | 195,000 | ** | 204,340 | |||||
CGCMT 13-GC17 A4 4.131% 11/46 | 249,000 | ** | 258,574 | |||||
CGCMT 2014-GC23 A3 3.356% 7/47 | 511,000 | ** | 512,505 | |||||
CGCMT 16-GC36 AAB 3.368% 02/49 | 295,000 | ** | 296,740 | |||||
CGCMT 2017-P7 A2 3.199% 04/50 | 286,000 | ** | 287,749 |
18
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
FNR 2012-149 DA 1.75% 01/43 | 70,825 | ** | 68,000 | |||||
FNR 2013-16 GP 3% 03/33 | 309,646 | ** | 310,150 | |||||
FNR 2014-83 P 3% 06/43 | 461,126 | ** | 460,641 | |||||
FNR 2015-32 PA 3% 4/44 | 361,777 | ** | 361,434 | |||||
FNR 2015-28 P 2.5% 5/45 | 929,596 | ** | 910,459 | |||||
FNR 2015-28 JE 3% 05/45 | 767,388 | ** | 764,499 | |||||
FNR 2015-42 LE 3% 06/45 | 545,646 | ** | 542,817 | |||||
FNR 2015-49 LE 3% 07/45 | 402,129 | ** | 402,170 | |||||
FNR 2015-54 GA 2.5% 07/45 | 484,635 | ** | 476,895 | |||||
FNR 2016-19 AH 3% 04/46 | 438,495 | ** | 438,651 | |||||
FNR 2016-26 CG 3% 05/46 | 1,132,956 | ** | 1,130,362 | |||||
FNR 2016-27 HK 3% 01/41 | 570,190 | ** | 567,576 | |||||
FNR 2016-27 KG 3% 01/40 | 280,954 | ** | 280,651 | |||||
FNR 2016-37 BK 3% 06/46 | 1,174,605 | ** | 1,171,988 | |||||
FNR 2016-34 GH 3% 06/46 | 1,110,424 | ** | 1,106,297 | |||||
FNR 2016-105 PA 3.5% 4/45 | 598,005 | ** | 608,741 | |||||
FNR 2016-100 P 3.5% 11/44 | 909,782 | ** | 923,013 | |||||
FNR 2017-11 HA 3.5% 12/45 | 943,354 | ** | 960,050 | |||||
FNR 2017-20 AP 3.5% 03/45 | 1,042,054 | ** | 1,060,405 | |||||
FNR 2017-74 PA 3.5% 11/45 | 895,874 | ** | 912,161 | |||||
FNR 2017-97 P 3% 01/47 | 596,785 | ** | 592,558 | |||||
FNR 2018-3 LP 3% 02/47 | 1,631,436 | ** | 1,624,496 | |||||
FNR 2018-16 NB 3.25% 12/44 | 558,414 | ** | 563,205 | |||||
FNR 2018-11 LA 3.5% 7/45 | 725,924 | ** | 738,770 | |||||
FNR 2018-44 PA 3.5% 06/44 | 3,560,286 | ** | 3,598,095 | |||||
FNR 2018-88 BA 4% 11/25/43 | 1,095,578 | ** | 1,128,846 | |||||
FHR 2012-4135 AB 1.75% 06/42 | 53,511 | ** | 51,395 | |||||
FHR 2015-4472 WL 3% 05/45 | 371,465 | ** | 371,784 | |||||
FHR 4656 PA 3.5% 10/45 | 623,080 | ** | 635,168 | |||||
FHR 4683 EA 2.5% 05/47 | 790,374 | ** | 773,910 | |||||
FHR 2018-4765 QA 3% 02/46 | 1,197,232 | ** | 1,193,734 | |||||
FHR 4847 CA 3.5% 11/15/45 | 768,284 | ** | 780,480 | |||||
FHR 2018-4766 MA 3.5% 02/46 | 1,136,465 | ** | 1,157,778 | |||||
FNR 2011-26 PA 4.5% 04/41 | 246,125 | ** | 258,148 | |||||
FHR 2010-3645 KP 5% 02/40 | 193,354 | ** | 204,955 | |||||
GSMS 2012-GC6 A3 3.482% 01/45 | 304,849 | ** | 308,995 | |||||
GSMS 2013-GC10 A4 2.681% 02/46 | 118,206 | ** | 116,016 | |||||
GSMS 2013-GC10 A5 2.943% 02/46 | 622,000 | ** | 615,722 | |||||
GSMS 2012-GCJ7 A4 3.377% 05/45 | 1,101,783 | ** | 1,109,533 | |||||
GSMS 2012-GCJ9 A3 2.773% 11/45 | 734,432 | ** | 726,061 | |||||
GSMC 14-GC26 AAB 3.365% 11/47 | 349,000 | ** | 352,264 | |||||
GSMS 15-GC32 AAB 3.513% 7/48 | 204,000 | ** | 206,955 | |||||
GSMS 2015-GC28 AAB 3.206% 2/48 | 265,000 | ** | 266,063 | |||||
GSMS 2016-GS4 A1 1.532% 11/49 | 59,531 | ** | 58,502 | |||||
GSMS 14-GC18 AAB 3.648% 01/47 | 89,000 | ** | 90,210 | |||||
GSMS 14-GC20 AAB 3.655% 04/47 | 103,000 | ** | 104,748 | |||||
* | JPMCC 2015-JP1 A2 3.1438% 1/49 | 351,000 | ** | 350,292 | ||||
* | JPMCC 2012-C6 A3 3.5074 5/45 | 207,012 | ** | 208,594 | ||||
* | JPMCC 2012-C8 A3 2.8291% 10/45 | 289,178 | ** | 284,807 | ||||
* | JPMCC 13-C10 A5 3.1425% 12/47 | 542,000 | ** | 539,347 | ||||
* | JPMBB 14-C22 ASB 3.5036% 09/47 | 255,000 | ** | 257,039 | ||||
* | JPMCC 16-JP4 A2 2.9343% 12/49 | 384,000 | ** | 381,378 | ||||
* | JPMDB 16-C4 A1 1.4943% 12/49 | 1,072,790 | ** | 1,047,251 |
19
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
MSBAM 15-C22 ASB 3.04% 4/15/48 | 151,000 | ** | 150,946 | |||||
MSBAM 2013-C7 A4 2.918% 2/46 | 451,000 | ** | 445,735 | |||||
MSBAM 2016-C32 A1 1.819% 12/49 | 178,045 | ** | 175,183 | |||||
MSBAM 2012-C6 A4 2.858% 11/45 | 633,132 | ** | 625,597 | |||||
MSBAM 2013-C8 A4 3.134% 12/48 | 516,000 | ** | 514,123 | |||||
MSBAM 2013-C11 A4 CSTR 8/46 | 166,000 | ** | 173,509 | |||||
MSBAM 13-C13 ASB 3.557% 11/46 | 419,530 | ** | 425,041 | |||||
MSBAM 2014-C16 ASB 3.477% 6/47 | 333,000 | ** | 335,836 | |||||
MSBAM 2014-C17 ASB 3.477% 8/47 | 436,000 | ** | 440,883 | |||||
MSBAM 2015-C21 ASB 3.15% 03/48 | 88,000 | ** | 87,715 | |||||
MSBAM 2016-C31 A1 1.555% 11/21 | 124,470 | ** | 121,784 | |||||
UBSBB 2012-C2 A4 3.525 5/63 | 343,000 | ** | 347,774 | |||||
WFRBS 14-C20 ASB 3.638% 05/47 | 168,000 | ** | 170,878 | |||||
WFRBS 2014-C22 ASB 3.464% 9/57 | 576,000 | ** | 584,183 | |||||
WFRBS 2013-C14 A5 3.337% 6/46 | 494,000 | ** | 496,242 | |||||
WFRBS 2012-C9 A3 2.87% 11/45 | 419,625 | ** | 417,273 | |||||
WFRBS 2011-C3 A4 4.375% 3/44 | 437,000 | ** | 447,113 | |||||
WFRBS 2012-C7 A2 3.431% 6/45 | 271,000 | ** | 273,173 | |||||
WFRBS 2013-C11 A5 3.071% 03/45 | 1,086,000 | ** | 1,080,666 | |||||
WFRBS 2013-C12 A4 3.198% 3/48 | 151,000 | ** | 150,799 | |||||
WFRBS 13-C12 ASB 2.838% 03/48 | 59,998 | ** | 59,650 | |||||
WFRBS 2013-C16 A5 4.415% 09/46 | 312,000 | ** | 327,899 | |||||
WFRBS 13-C16 ASB 3.963% 09/46 | 137,394 | ** | 140,161 | |||||
WFRBS 14-C23 ASB 3.636% 10/57 | 201,000 | ** | 205,165 | |||||
WFCM 2012-LC5 A3 2.918% 10/45 | 761,144 | ** | 754,882 | |||||
WFCM 2013-LC12 A1 1.676% 7/46 | 40,067 | ** | 40,071 | |||||
WFCM 2015-C27 ASB 3.278% 2/48 | 354,000 | ** | 356,780 | |||||
WFCM 2016-C34 A2 2.603% 06/49 | 354,000 | ** | 348,863 | |||||
WFCM 2016-LC25 1.795% 12/15/59 | 84,783 | ** | 84,013 | |||||
WFCM 2016-C36 A1 1.453% 11/59 | 68,383 | ** | 67,201 | |||||
WFCM 2016-C37 A2 3.103% 12/49 | 268,000 | ** | 268,153 | |||||
|
| |||||||
Total Mortgage Backed Securities | — | $63,632,583 | ||||||
|
| |||||||
Asset Backed Securities: | ||||||||
AMOT 2017-3 A2 2.04% 6/22 | 446,000 | ** | $440,020 | |||||
AMOT 2018-1 A2 2.7% 01/23 | 540,000 | ** | 536,544 | |||||
AMOT 2018-2 A 3.29% 05/23 | 683,000 | ** | 687,912 | |||||
AMXCA 2017-3 A 1.77% 11/22 | 636,000 | ** | 627,401 | |||||
AMXCA 2017-6 A 2.04% 05/23 | 488,000 | ** | 480,918 | |||||
AMXCA 2018-4 A 2.99% 12/15/23 | 543,000 | ** | 545,147 | |||||
AMXCA 2018-6 A 0% 02/24 | 539,000 | ** | 541,665 | |||||
AMXCA 2017-1 A 1.93% 09/22 | 879,000 | ** | 869,358 | |||||
BACCT 2017-A1 A1 1.95% 08/22 | 772,000 | ** | 763,455 | |||||
BACCT 2017-A2 A2 1.84% 1/23 | 678,000 | ** | 666,417 | |||||
BACCT 2018-A1 A1 2.7% 04/23 | 674,000 | ** | 672,389 | |||||
BACCT 2018-A2 A2 3% 09/23 | 547,000 | ** | 549,275 | |||||
BMWFT 2018-1 A1 3.15% 5/23 | 499,000 | ** | 500,679 | |||||
BMWLT 2017-2 A3 2.07% 10/20 | 289,000 | ** | 287,036 | |||||
BMWLT 2018-1 A3 3.06% 07/21 | 234,000 | ** | 235,340 | |||||
BWSTA 18-1 A3 3.52% 12/22 144A | 276,000 | ** | 278,152 | |||||
CNH 2018-A A3 3.23% 07/23 | 497,000 | ** | 499,140 | |||||
CPART 17-1A A3 2.05% 03/21 | 345,000 | ** | 342,848 | |||||
CPART 18-2A A3 3.429% 12/22 | 412,000 | ** | 415,577 | |||||
COMET 2015-A2 A2 2.08% 03/23 | 179,000 | ** | 177,015 |
20
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
COMET 2015-A8 A8 2.05% 08/23 | 430,000 | ** | 424,057 | |||||
COMET 2016-A3 A3 1.34% 04/22 | 359,000 | ** | 356,450 | |||||
COMET 2016-A4 A4 1.33% 6/15/22 | 656,000 | ** | 649,758 | |||||
COMET 2017-A1 A1 2% 01/23 | 628,000 | ** | 621,654 | |||||
COMET 2017-A4 A4 1.99% 07/23 | 865,000 | ** | 852,240 | |||||
COMET 2018-A1 A1 3.01% 02/24 | 361,000 | ** | 363,390 | |||||
CARMX 16-4 A3 1.4% 08/21 | 440,454 | ** | 435,613 | |||||
CARMX 2015-3 A3 1.63% 06/20 | 28,506 | ** | 28,491 | |||||
CARMX 2016-2 A3 1.52% 02/21 | 150,097 | ** | 149,286 | |||||
CARMX 2017-4 A3 2.15% 10/22 | 244,000 | ** | 241,729 | |||||
CARMX 2017-3 A3 1.97% 04/22 | 236,000 | ** | 233,630 | |||||
CARMX 2018-2 A3 2.98% 01/23 | 293,000 | ** | 295,096 | |||||
CARMX 2018-4 A3 3.36% 09/23 | 334,000 | ** | 336,787 | |||||
CHAIT 2016-A2 A 1.37% 06/15/21 | 813,000 | ** | 807,381 | |||||
CHAIT 2016-A5 A5 1.27% 07/21 | 660,000 | ** | 654,587 | |||||
CCCIT 2016-A1 A1 0% 11/21 | 814,000 | ** | 807,024 | |||||
CCCIT 2017-A3 A3 1.92% 04/22 | 703,000 | ** | 697,183 | |||||
CCCIT 2017-A8 A8 1.86% 8/8/22 | 600,000 | ** | 594,687 | |||||
CCCIT 2017-A9 A9 1.8% 09/21 | 602,000 | ** | 600,185 | |||||
CCCIT 2018-A1 A1 2.539% 01/23 | 555,000 | ** | 556,705 | |||||
DEFT 18-1 A3 3.39% 06/23 | 169,000 | ** | 169,189 | |||||
DEFT 2018-2 A3 3.44% 10/23 | 226,000 | ** | 227,183 | |||||
DCENT 2015-A2 A 1.9% 10/22 | 515,000 | ** | 508,337 | |||||
DCENT 2016-A3 A3 1.85% 10/23 | 440,000 | ** | 431,458 | |||||
DCENT 2016-A4 A4 1.39% 3/22 | 657,000 | ** | 650,158 | |||||
DCENT 2017-A6 A6 1.88% 2/15/23 | 449,000 | ** | 442,109 | |||||
DCENT 2018-A5 A5 3.32% 03/24 | 659,000 | ** | 667,997 | |||||
FITAT 2017-1 A3 1.8% 02/22 | 371,000 | ** | 367,255 | |||||
FORDO 2018-A A3 3.03% 11/22 | 539,000 | ** | 539,977 | |||||
FORDF 2016-1 A1 1.76% 02/21 | 310,000 | ** | 309,653 | |||||
FORDF 2017-1 A1 2.07% 05/15/22 | 374,000 | ** | 369,308 | |||||
FORDF 2017-2 A1 2.16% 09/22 | 595,000 | ** | 586,754 | |||||
FORDF 2018-1 A1 2.95% 5/21 | 678,000 | ** | 677,067 | |||||
FORDR 14-1 A 2.26% 11/25 | 470,000 | ** | 469,026 | |||||
FORDR 2014-2 A 2.31% 04/26 | 1,015,000 | ** | 1,008,920 | |||||
FORD CRD 16-1 A 2.31% 08/27 | 249,000 | ** | 245,862 | |||||
FORDR 2015-2 A 2.44% 01/27 | 327,000 | ** | 324,607 | |||||
FORDO 2016-C A3 1.22% 03/21 | 485,959 | ** | 481,703 | |||||
FORDO 2017-A A3 1.67% 6/21 | 526,511 | ** | 522,889 | |||||
FORDO 2016-A A3 2.01% 07/20 | 118,056 | ** | 117,807 | |||||
FORDO 16-B A3 1.33% 10/20 | 163,337 | ** | 162,685 | |||||
GFORT 17-1 A1 2.22% 1/22 144A | 510,000 | ** | 506,020 | |||||
GFORT 2018-2 A1 3.25% 3/23 | 513,000 | ** | 513,761 | |||||
GMALT 2018-2 A3 3.1% 06/21 | 296,000 | ** | 295,832 | |||||
GMCAR 2018-1A A3 2.39% 7/18/22 | 254,000 | ** | 251,629 | |||||
HAROT 2016-4 A3 1.21% 12/20 | 440,568 | ** | 436,793 | |||||
HAROT 2017-1 A3 1.72% 07/21 | 455,971 | ** | 452,268 | |||||
HUNT AUTO 16-1 A3 1.57% 11/20 | 134,483 | ** | 134,005 | |||||
HART 2016-B A3 1.29% 4/21 | 559,929 | ** | 554,821 | |||||
HART 2018-A A3 2.79% 07/22 | 340,000 | ** | 340,150 | |||||
HART 2015-C A3 1.46% 02/20 | 11,729 | ** | 11,728 | |||||
HFMOT 2016-1A A2 1.81% 03/21 | 351,000 | ** | 349,853 | |||||
HART 2016-A A3 1.56% 09/20 | 87,416 | ** | 87,148 | |||||
KCOT 2018-1A A3 3.1% 08/22 | 678,000 | ** | 682,255 | |||||
NMOTR 2016-A A2 1.54% 06/21 | 352,000 | ** | 349,886 |
21
Table of Contents
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
NAROT 2017-A A3 1.74% 08/21 | 628,000 | ** | 622,643 | |||||
NAROT 2016-B A3 1.32% 01/15/21 | 197,613 | ** | 196,150 | |||||
SRT 2017-A A3 2.58% 01/21 | 574,000 | ** | 569,662 | |||||
SRT 2018-A A3 2.93% 05/21 | 454,000 | ** | 453,835 | |||||
SSTRT 17-2A A3 2.04% 4/21 144A | 358,000 | ** | 354,295 | |||||
SSTRT 2016-1A A3 1.524% 03/20 | 92,669 | ** | 92,392 | |||||
SSTRT 2018-2A A3 3.51% 8/25/22 | 660,000 | ** | 665,504 | |||||
SSTRT 17-1A A3 1.89% 8/20 | 493,817 | ** | 491,470 | |||||
TAOT 2018-B A3 2.96% 09/22 | 529,000 | ** | 529,824 | |||||
USAOT 2017-1 A3 1.79% 05/21 | 205,000 | ** | 203,638 | |||||
VZOT 16-1A A 1.42% 01/21 | 287,846 | ** | 286,562 | |||||
VZOT 17-2A A 1.92% 12/21 | 360,000 | ** | 356,526 | |||||
VZOT 2017-3A A1A 2.06% 04/22 | 600,000 | ** | 593,163 | |||||
VALET 2018-1 A3 3.32% 11/22 | 320,000 | ** | 320,355 | |||||
WOART 16-B A3 1.3% 2/22 | 382,596 | ** | 378,371 | |||||
WOART 2016-A A3 1.77% 09/21 | 179,721 | ** | 178,575 | |||||
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Total Asset Backed Securities | — | $40,361,279 | ||||||
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Corporate Bonds: | ||||||||
APPLE INC 2.85% 5/6/21 | 510,000 | ** | $512,547 | |||||
AUST & NZ BKG NY 2.25% 6/13/19 | 710,000 | ** | 708,389 | |||||
AUS & NZ BKG 2.125% 8/19/20 | 398,000 | ** | 394,708 | |||||
BANK OF MONTREAL 1.5% 7/18/19 | 1,000,000 | ** | 999,292 | |||||
BK OF NOVA SCOTIA 2.05% 6/5/19 | 1,000,000 | ** | 997,540 | |||||
BANK NOVA SCOTIA 2.8% 07/21/21 | 500,000 | ** | 501,878 | |||||
BNK OF NOVA SCOTIA 2.7% 3/7/22 | 640,000 | ** | 631,478 | |||||
BERKSHIRE HATH 1.7% 3/15/19 | 277,000 | ** | 277,775 | |||||
BERKSHIRE HTHWY INC 2.1% 08/19 | 1,000,000 | ** | 1,003,177 | |||||
BERKSHIRE HATH 2.2% 3/15/21 | 244,000 | ** | 242,372 | |||||
BERKSHIRE HATH 2.75% 3/15/23 | 320,000 | ** | 316,709 | |||||
CANADIAN IMP BANK 2.55% 6/22 | 926,000 | ** | 902,630 | |||||
CHEVRON CORP 2.419% 11/17/20 | 940,000 | ** | 933,944 | |||||
CISCO SYSTEMS INC 2.125% 3/19 | 690,000 | ** | 693,917 | |||||
CISCO SYSTEMS 2.45% 6/15/20 | 1,000,000 | ** | 995,629 | |||||
CISCO SYSTEMS 1.85% 9/20/21 | 490,000 | ** | 478,978 | |||||
COMMONWEALTH NY 2.25% 03/13/19 | 681,000 | ** | 684,872 | |||||
COMMONWEALTH BK NY 2.3% 9/6/19 | 650,000 | ** | 651,576 | |||||
COMMWLTH BK ASTL NYB 2.3% 3/20 | 310,000 | ** | 308,880 | |||||
EXXON MOBIL CORP 2.726% 3/1/23 | 503,000 | ** | 499,183 | |||||
EXXON MOBIL CORP 2.222% 3/1/21 | 640,000 | ** | 635,503 | |||||
GENERAL ELEC CO 3.375% 3/11/24 | 602,000 | ** | 568,505 | |||||
GUARDIAN LIFE 3.4% 4/23 144A | 700,000 | ** | 701,695 | |||||
HSBC HLDNGS 3.262/VAR 3/13/23 | 1,000,000 | ** | 988,399 | |||||
HSBC USA INC 2.25% 06/23/19 | 1,000,000 | ** | 996,508 | |||||
JOHNSON & JOHNSON 2.25% 03/22 | 2,385,000 | ** | 2,366,548 | |||||
* | JPMORGAN CHASE 1.65% 9/23/19 | 2,000,000 | ** | 1,990,611 | ||||
MASSMUTUAL 1.55% 10/11/19 144A | 2,000,000 | ** | 1,984,633 | |||||
MASSMUTUL GLBL 2.5% 4/22 144A | 640,000 | ** | 628,276 | |||||
MERCK & CO INC NEW 1.85% 02/20 | 1,000,000 | ** | 998,174 | |||||
MET LFE GLB 1.55% 9/13/19 144A | 1,500,000 | ** | 1,491,962 | |||||
MET LIFE GLOB 2.65% 4/22 144A | 950,000 | ** | 931,592 | |||||
MICROSOFT CORP 1.55% 8/8/21 | 1,000,000 | ** | 977,583 | |||||
MIDAMERICAN ENE 2.4% 03/15/19 | 750,000 | ** | 754,489 | |||||
NYLIFE GLBL 1.7% 9/14/21 144A | 1,000,000 | ** | 968,713 | |||||
NY LFE GLB 2.3% 6/10/22 144A | 1,000,000 | ** | 965,206 |
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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
EIN: 59-2449419 PLAN# 002
SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) | (c) | (d) Cost | (e) | ||||
NOVARTIS CAP 2.4% 05/17/22 | 1,000,000 | ** | 978,175 | |||||
ONTARIO PROVINCE CDA 2.4% 2/22 | 648,000 | ** | 645,138 | |||||
ONTARIO PROV 4% 10/7/19 | 2,000,000 | ** | 2,037,007 | |||||
ORACLE CORP 1.9% 09/15/21 | 660,000 | ** | 644,178 | |||||
PECO ENERGY CO 1.7% 9/30/21 | 660,000 | ** | 639,116 | |||||
PRICOA GBL 1.45% 9/13/19 144A | 497,000 | ** | 493,800 | |||||
PRICOA GLBL 2.45% 9/21/22 144A | 448,000 | ** | 436,003 | |||||
PROTECTVE LFE 2.615% 8/22 144A | 450,000 | ** | 441,595 | |||||
PROTECTIVE LF 2.161% 9/20 144A | 456,000 | ** | 450,410 | |||||
PUBLIC SVC ELEC 1.8% 06/01/19 | 700,000 | ** | 696,996 | |||||
QUEBEC PROVINCE 2.375% 1/31/22 | 1,234,000 | ** | 1,231,176 | |||||
ROYAL BK CAN GL 2.35% 10/30/20 | 1,300,000 | ** | 1,289,117 | |||||
ROYAL BANK OF CANA 2.15% 10/20 | 800,000 | ** | 790,474 | |||||
ROYAL BK CDA 3.2% 04/30/21 | 340,000 | ** | 341,796 | |||||
SHELL INTL FIN BV 2.125% 05/20 | 468,000 | ** | 464,567 | |||||
SHELL INTL 2.25% 11/10/20 | 806,000 | ** | 798,806 | |||||
* | STATE STREET CRP 1.95% 5/19/21 | 1,000,000 | ** | 974,265 | ||||
SVENSKA 3.35% 05/24/21 | 700,000 | ** | 702,002 | |||||
TORONTO DOM BK 2.125% 7/02/19 | 340,000 | ** | 342,320 | |||||
TORONTO DOMINION 2.25% 11/5/19 | 800,000 | ** | 798,427 | |||||
TORONTO DOM BANK 2.125% 4/7/21 | 350,000 | ** | 344,213 | |||||
TOTAL CAP INTL 2.125% 01/10/19 | 700,000 | ** | 706,900 | |||||
TOTAL CAP INTL 2.75% 06/19/21 | 340,000 | ** | 338,355 | |||||
TOYOTA MOTOR CRDIT 2.125% 7/19 | 500,000 | ** | 502,127 | |||||
TOYOTA MOTOR CORP 2.6% 1/11/22 | 780,000 | ** | 778,265 | |||||
US BANK NA CIN 2.125% 10/19 | 1,451,000 | ** | 1,446,163 | |||||
WELLS FARGO 3% 01/22/21 | 635,000 | ** | 640,558 | |||||
WELLS FARGO & CO MTN 2.6% 7/20 | 460,000 | ** | 460,749 | |||||
WELLS FARGO BANK 2.6% 1/15/21 | 2,700,000 | ** | 2,698,747 | |||||
WESTPAC BANKING 4.875 11/19/19 | 620,000 | ** | 633,149 | |||||
WESTPAC BANKING 1.6% 08/19/19 | 650,000 | ** | 648,040 | |||||
WESTPAC BANKING 2.8% 1/11/22 | 651,000 | ** | 647,343 | |||||
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Total Corporate Bonds | — | $55,723,848 | ||||||
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Synthetic guaranteed investment contract and wrapper contracts: | ||||||||
ADJUSTMENT FROM FAIR VALUE TO CONTRACT VALUE GUARANTEED INVESTMENT CONTRACT | ** | $2,583,123 | ||||||
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Total synthetic guaranteed investment contract and wrapper contracts | — | $2,583,123 | ||||||
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* | Participant loans | 3.25% - 5.25% Maturing 2019 - 2025 | ** | $71,944,590 | ||||
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Total investments at year end | 240,646,831 | $4,414,337,237 | ||||||
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* | Party-in-interest |
** | Historical cost is disclosed only for non-participant directed investments |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Employee Benefit Plans Administrative Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 27, 2019 | NextEra Energy, Inc. Employee Retirement Savings Plan | |||||
(Name of Plan) | ||||||
By: | /s/ Deborah H. Caplan | |||||
Deborah H. Caplan Chairman of the Employee Benefit Plans Administrative Committee |
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