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11-K Filing
NextEra Energy (NEE) 11-KAnnual report of employee stock purchases
Filed: 18 Jun 24, 5:30pm
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, 2023
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)
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
FINANCIAL STATEMENTS
DECEMBER 31, 2023 AND 2022
Page No. | ||||
1 | ||||
FINANCIAL STATEMENTS | ||||
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 2023 AND 2022 | 2-3 | |||
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2023 | 4 | |||
5 | ||||
SUPPLEMENTAL SCHEDULE | ||||
SCHEDULE H LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR) | 11 | |||
17 | ||||
18 | ||||
Crowe LLP Independent Member Crowe Global |
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, 2023 and 2022, the related statement of changes in net assets available for benefits for the year ended December 31, 2023, 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, 2023 and 2022, and the changes in net assets available for benefits for the year ended December 31, 2023, 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. 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, 2023 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 18, 2024
1
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2023 AND 2022
December 31, 2023 | ||||||||||||
Participant- | Nonparticipant- | |||||||||||
Directed | Directed | Total | ||||||||||
ASSETS | ||||||||||||
Investments, at fair value (see Note 6) | ||||||||||||
Registered investment companies | $ | 363,163,353 | $ | 9,781,368 | $ | 372,944,721 | ||||||
Collective trust funds | 2,255,847,026 | — | 2,255,847,026 | |||||||||
Preferred stock | 653,585 | — | 653,585 | |||||||||
Common stock other than NextEra Energy, Inc. common stock | 460,419,197 | — | 460,419,197 | |||||||||
NextEra Energy, Inc. common stock | 395,831,605 | 1,294,173,610 | 1,690,005,215 | |||||||||
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Total investments, at fair value | 3,475,914,766 | 1,303,954,978 | 4,779,869,744 | |||||||||
Investments, at contract value (see Note 7) | 175,564,283 | — | 175,564,283 | |||||||||
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Total investments | 3,651,479,049 | 1,303,954,978 | 4,955,434,027 | |||||||||
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Receivables | ||||||||||||
Participant loans | 70,903,605 | — | 70,903,605 | |||||||||
Pending trades due from brokers | 235,498 | 2,144,567 | 2,380,065 | |||||||||
Employer contributions | — | 3,183,714 | 3,183,714 | |||||||||
Other receivables | 617,000 | 42,357 | 659,357 | |||||||||
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Total receivables | 71,756,103 | 5,370,638 | 77,126,741 | |||||||||
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Total assets | 3,723,235,152 | 1,309,325,616 | 5,032,560,768 | |||||||||
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LIABILITIES | ||||||||||||
Other payables | 1,788,779 | 778,681 | 2,567,460 | |||||||||
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Total liabilities | 1,788,779 | 778,681 | 2,567,460 | |||||||||
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NET ASSETS AVAILABLE FOR BENEFITS | $ | 3,721,446,373 | $ | 1,308,546,935 | $ | 5,029,993,308 | ||||||
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The accompanying Notes to Financial Statements are an integral part of these statements.
2
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2023 AND 2022
December 31, 2022 | ||||||||||||
Participant- | Nonparticipant- | |||||||||||
Directed | Directed | Total | ||||||||||
ASSETS | ||||||||||||
Investments, at fair value (see Note 6) | ||||||||||||
Registered investment companies | $ | 344,826,711 | $ | 15,229,762 | $ | 360,056,473 | ||||||
Collective trust funds | 1,846,623,398 | — | 1,846,623,398 | |||||||||
Preferred stock | 978,894 | — | 978,894 | |||||||||
Common stock other than NextEra Energy, Inc. common stock | 413,192,778 | — | 413,192,778 | |||||||||
NextEra Energy, Inc. common stock | 604,716,530 | 1,889,263,993 | 2,493,980,523 | |||||||||
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Total investments, at fair value | 3,210,338,311 | 1,904,493,755 | 5,114,832,066 | |||||||||
Investments, at contract value (see Note 7) | 252,202,853 | — | 252,202,853 | |||||||||
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Total investments | 3,462,541,164 | 1,904,493,755 | 5,367,034,919 | |||||||||
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Receivables | ||||||||||||
Participant loans | 68,303,528 | — | 68,303,528 | |||||||||
Pending trades due from brokers | 5,829,161 | 13,878 | 5,843,039 | |||||||||
Employer contributions | — | 2,823,954 | 2,823,954 | |||||||||
Other receivables | 856,940 | 245,684 | 1,102,624 | |||||||||
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Total receivables | 74,989,629 | 3,083,516 | 78,073,145 | |||||||||
Non-interest bearing cash | 211,426 | — | 211,426 | |||||||||
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Total assets | 3,537,742,219 | 1,907,577,271 | 5,445,319,490 | |||||||||
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LIABILITIES | ||||||||||||
Pending trades due to brokers | 6,259,148 | — | 6,259,148 | |||||||||
Other payables | 1,366,825 | 49,213 | 1,416,038 | |||||||||
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Total liabilities | 7,625,973 | 49,213 | 7,675,186 | |||||||||
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NET ASSETS AVAILABLE FOR BENEFITS | $ | 3,530,116,246 | $ | 1,907,528,058 | $ | 5,437,644,304 | ||||||
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The accompanying Notes to Financial Statements are an integral part of these statements.
3
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2023
Participant- | Nonparticipant- | |||||||||||
Directed | Directed | Total | ||||||||||
ADDITIONS/(DEDUCTIONS) TO/(FROM) NET ASSETS ATTRIBUTED TO: | ||||||||||||
Net appreciation/(depreciation) in fair value of investments | $ | 338,058,204 | $ | (504,399,819 | ) | $ | (166,341,615 | ) | ||||
Interest income | 15,028,968 | — | 15,028,968 | |||||||||
Dividend income | 22,800,921 | 41,224,584 | 64,025,505 | |||||||||
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Net investment income/(loss) | 375,888,093 | (463,175,235 | ) | (87,287,142 | ) | |||||||
Contributions | ||||||||||||
Participant | 199,873,206 | — | 199,873,206 | |||||||||
Employer - NextEra Energy, Inc. common stock | — | 77,922,196 | 77,922,196 | |||||||||
Rollovers | 26,437,641 | — | 26,437,641 | |||||||||
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Total contributions | 226,310,847 | 77,922,196 | 304,233,043 | |||||||||
Transfer from/to nonparticipant-directed investments | 45,820,320 | 2,926,031 | 48,746,351 | |||||||||
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Total net additions/(deductions) | 648,019,260 | (382,327,008 | ) | 265,692,252 | ||||||||
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DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO: | ||||||||||||
Benefit payments to participants and beneficiaries | 452,310,451 | 170,439,775 | 622,750,226 | |||||||||
Management and administrative expenses | 3,912,311 | 394,020 | 4,306,331 | |||||||||
Transfer from/to participant-directed investments | 2,926,031 | 45,820,320 | 48,746,351 | |||||||||
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Total deductions | 459,148,793 | 216,654,115 | 675,802,908 | |||||||||
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NET INCREASE/(DECREASE) | $ | 188,870,467 | $ | (598,981,123 | ) | $ | (410,110,656 | ) | ||||
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INTERPLAN TRANSFER (see Note 1) | 2,459,660 | — | 2,459,660 | |||||||||
NET ASSETS AVAILABLE FOR BENEFITS AT DECEMBER 31, 2022 | $ | 3,530,116,246 | $ | 1,907,528,058 | $ | 5,437,644,304 | ||||||
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NET ASSETS AVAILABLE FOR BENEFITS AT DECEMBER 31, 2023 | $ | 3,721,446,373 | $ | 1,308,546,935 | $ | 5,029,993,308 | ||||||
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The accompanying Notes to Financial Statements are an integral part of these statements.
4
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023 AND 2022
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 (SPD) (as updated periodically through Summaries of Material Modifications) for a more complete description of the Plan and up-to-date information regarding participating subsidiaries, 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.
Most employees of NextEra Energy, Inc. (the Company/Employer) and its subsidiaries 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 its subsidiaries or at any later date.
The Plan contains employee stock ownership plan (ESOP) provisions. The ESOP component 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 Benefits Advisory Committee (EBAC) acts on behalf of the Company as the Plan Sponsor, as defined by ERISA. The Employee Benefit Plans Administrative Committee (as appointed by EBAC) 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 EBAC) is the named investment fiduciary, but is not directly responsible for the management and control of the Plan assets. Fidelity Workplace 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. Participants may also make rollover contributions which represent distributions from other qualified plans or individual retirement accounts.
Eligible employees are automatically enrolled in Pretax Contributions unless such employees revoke or modify their Pretax Contribution election within 60 days of their date of hire or rehire. The Plan also has an automatic increase feature whereby eligible employees’ deemed Pretax Contributions are increased by 1% each year up to a maximum of 10% unless the eligible employee revokes or otherwise modifies their Pretax Contribution election.
5
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023 AND 2022
Participants can change their investment elections daily and invest in any combination of different investment options offered under the Plan subject to the Plan’s limitations on investments in Company Stock and Fidelity’s excessive trading policy.
Employer Contributions
The Company provides matching contributions through the ESOP in the form of Company Stock. Participants should refer to the SPD for the employer contribution schedules.
Forfeitures
Forfeitures of nonvested employer matching contributions due to termination of employment are used to restore amounts previously forfeited. Any remaining forfeitures are applied to Plan administrative expenses or to reduce the amount of future employer matching contributions to the Plan. Forfeitures applied to administrative fees in 2023 totaled $735,066 and forfeitures used to reduce employer matching contributions in 2023 totaled $2,926,031. The balance of the forfeiture account was $298,746 and $178,330, respectively at December 31, 2023 and 2022.
Vesting
Participants are immediately 100% vested in employee contributions. Participants should refer to the SPD for the vesting schedules for Employer matching contributions. 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
Participants may borrow from their 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. In general, 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. Loans outstanding at December 31, 2023 carry an interest rate of 3.25% to 8.50% and the majority mature between 2024 and 2028. Participants should refer to the SPD for a description of eligible participant loans.
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 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 $55 per year to cover some of the administrative expenses of the Plan. All other expenses are paid directly by the Plan through forfeitures, if any. Any fees paid directly by the Company are not included in the financial statements of the Plan.
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.
Plan Merger
On March 21, 2023, the Company acquired EPP Service Company, LLC and certain affiliated renewable energy projects (EPP). EPP was previously a participating employer in a multiple employer defined contribution plan, and as such all of the EPP acquired employees accounts and outstanding loan balances were merged with and into the Plan resulting in an interplan transfer of $2,459,660 in 2023.
6
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023 AND 2022
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 the 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, preferred 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 and preferred stock are 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.
Investment contracts (wrapper contracts): The Managed Income Fund holds fully benefit-responsive investment contracts (wrapper contracts) (see Note 7) 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 Managed Income Fund is comprised of synthetic guaranteed investment contracts, each of which is valued at contract value. Each synthetic guaranteed investment contract consists of a wrapper contract and the underlying investments of the wrapper contract are primarily debt securities. 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
7
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023 AND 2022
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, and the loans are collateralized by the Participants’ account balances in the Plan. In general, repayments of principal and interest are received through payroll deductions or direct payment to the Trustee.
3. Risks and Uncertainties
Investments
The Plan, in general, is exposed to various risks, many of which are beyond the control of the Plan Sponsor. Some such risks include risks around investment securities such as interest rate, credit, liquidity, global events 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 may 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 investments daily among any of the other investment options available under the Plan.
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 2023, dividends on shares of Company Stock held in Participants’ accounts totaled $54,008,747.
8
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023 AND 2022
During 2023, employer contributions of Company Stock credited to Participant’s accounts totaled $77,922,196 which equated to 1,132,622 shares. Realized losses on shares of Company Stock sold by Participants during 2023 totaled $161,831,755. At December 31, 2023 and 2022, the number of shares of Company Stock held in Participants’ accounts totaled 27,823,596 and 29,832,303, respectively, with a fair value of $1,690,005,215 and $2,493,980,523, 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 direct costs incurred in the administration of the Plan which are considered party-in-interest transactions. Participant loans held by the Plan of $70,903,605 and $68,303,528 at December 31, 2023 and December 31, 2022, respectively, are also considered party-in-interest transactions.
6. Investments
The Plan’s financial assets and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:
December 31, 2023 | ||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||||
Participant-directed investments: | ||||||||||||||||
Registered investment companies | $ | 363,163,353 | $ | — | $ | — | $ | 363,163,353 | ||||||||
Collective trust funds | — | 2,255,847,026 | — | 2,255,847,026 | ||||||||||||
Preferred stock | — | — | 653,585 | 653,585 | ||||||||||||
Common stock other than NextEra Energy, Inc. common stock | 460,193,940 | — | 225,257 | 460,419,197 | ||||||||||||
NextEra Energy, Inc. common stock | 395,831,605 | — | — | 395,831,605 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total participant-directed investments | 1,219,188,898 | 2,255,847,026 | 878,842 | 3,475,914,766 | ||||||||||||
Nonparticipant-directed investments: | ||||||||||||||||
Registered investment companies | 9,781,368 | — | — | 9,781,368 | ||||||||||||
NextEra Energy, Inc. common stock | 1,294,173,610 | — | — | 1,294,173,610 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total nonparticipant-directed investments | 1,303,954,978 | — | — | 1,303,954,978 | ||||||||||||
Total investments in the fair value hierarchy | 2,523,143,876 | 2,255,847,026 | 878,842 | 4,779,869,744 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments at contract value | 175,564,283 | |||||||||||||||
|
| |||||||||||||||
Total investments | $ | 4,955,434,027 | ||||||||||||||
|
|
December 31, 2022 | ||||||||||||||||
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 | $ | 344,826,711 | $ | — | $ | — | $ | 344,826,711 | ||||||||
Collective trust funds | — | 1,846,623,398 | — | 1,846,623,398 | ||||||||||||
Preferred stock | — | — | 978,894 | 978,894 | ||||||||||||
Common stock other than NextEra Energy, Inc. common stock | 412,980,476 | — | 212,302 | 413,192,778 | ||||||||||||
NextEra Energy, Inc. common stock | 604,716,530 | — | — | 604,716,530 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total participant-directed investments | 1,362,523,717 | 1,846,623,398 | 1,191,196 | 3,210,338,311 | ||||||||||||
Nonparticipant-directed investments: | ||||||||||||||||
Registered investment companies | 15,229,762 | — | — | 15,229,762 | ||||||||||||
NextEra Energy, Inc. common stock | 1,889,263,993 | — | — | 1,889,263,993 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total nonparticipant-directed investments | 1,904,493,755 | — | — | 1,904,493,755 | ||||||||||||
Total investments in the fair value hierarchy | 3,267,017,472 | 1,846,623,398 | 1,191,196 | 5,114,832,066 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments at contract value | 252,202,853 | |||||||||||||||
|
| |||||||||||||||
Total investments | $ | 5,367,034,919 | ||||||||||||||
|
|
9
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023 AND 2022
7. Managed Income Fund
The contract value of fully benefit-responsive investment contracts was $175,564,283 and $252,202,853, respectively, at December 31, 2023 and 2022. The contract value of the fully benefit-responsive investment contracts includes cash of $651,281 and $1,760,102, respectively, at December 31, 2023 and 2022. Pending trades due from brokers related to fully benefit-responsive investment contracts were $0 and $5,587,452, respectively, at December 31, 2023 and 2022. Pending trades due to brokers related to fully benefit-responsive investment contracts were $0 and $6,259,148, respectively at December 31, 2023 and 2022. 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 $3,580,286 and $3,395,197, respectively, at December 31, 2023 and 2022.
8. Contingencies
In September 2023, a participant in the Plan, purportedly on behalf of the Plan and all persons who were participants in or beneficiaries of the Plan, at any time between September 25, 2016 and September 25, 2023, filed a putative ERISA class action lawsuit in the U.S. District Court for the Southern District of Florida against the Company. The complaint alleges that the Company violated its fiduciary duties under the Plan by permitting a third-party administrative recordkeeper to charge allegedly excessive fees for the services provided and allegedly by allowing a large volume of plan assets to be invested in Company Stock. The plaintiff seeks declaratory, equitable and monetary relief on behalf of the Plan and Plan participants. The Company and the plaintiff have agreed to a specified stay of the action to permit the plaintiff to exhaust the administrative remedies available to the participant under the Plan.
9. 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.
Employer 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 Employer 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, 2023 and 2022, 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 regulatory audits. An IRS audit was completed November 14, 2023 for the 2019 plan year. The plan administrator believes it is no longer subject to tax audits for periods prior to 2020.
10
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, 2023
(a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||||||
Cash and Cash Equivalents: | ||||||||||||||
USD (US Dollars) | 651,281 | ** | $ | 651,281 | ||||||||||
|
|
|
| |||||||||||
Total Cash and Cash Equivalents | — | $ | 651,281 | |||||||||||
|
|
|
| |||||||||||
Common Stock: | ||||||||||||||
ADOBE INC | 10,078 | ** | $ | 6,012,535 | ||||||||||
ADVANCED MICRO DEVICES INC | 23,080 | ** | 3,402,223 | |||||||||||
AFFIRM HOLDINGS INC | 21,286 | ** | 1,045,994 | |||||||||||
ALPHABET INC CL A | 233,337 | ** | 32,594,846 | |||||||||||
AMAZON.COM INC | 219,879 | ** | 33,408,415 | |||||||||||
AMPHENOL CORPORATION CL A | 77,176 | ** | 7,650,457 | |||||||||||
APPLE INC | 170,847 | ** | 32,893,173 | |||||||||||
ATLASSIAN CORP PLC CLS A | 22,647 | ** | 5,386,815 | |||||||||||
AURORA INNOVATION INC | 198,071 | ** | 865,570 | |||||||||||
BECTON DICKINSON & CO | 21,197 | ** | 5,168,464 | |||||||||||
THE BOOKING HOLDINGS INC | 1,999 | ** | 7,090,893 | |||||||||||
CIGNA GROUP | 41,073 | ** | 12,299,310 | |||||||||||
CADENCE DESIGN SYSTEMS INC | 15,692 | ** | 4,274,030 | |||||||||||
CHIPOTLE MEXICAN GRILL INC | 1,783 | ** | 4,077,650 | |||||||||||
COUPANG INC A | 144,871 | ** | 2,345,461 | |||||||||||
DANAHER CORP | 5,400 | ** | 1,249,236 | |||||||||||
DOLLAR GENERAL CORP | 19,198 | ** | 2,609,968 | |||||||||||
DYNATRACE INC | 64,956 | ** | 3,552,444 | |||||||||||
META PLATFORMS INC CL A | 54,378 | ** | 19,247,637 | |||||||||||
FAIR ISAAC CORP | 3,074 | ** | 3,578,167 | |||||||||||
FISERV INC | 102,473 | ** | 13,612,513 | |||||||||||
GLOBAL PAYMENTS INC | 42,885 | ** | 5,446,395 | |||||||||||
HOWMET AEROSPACE INC | 29,700 | ** | 1,607,364 | |||||||||||
HUMANA INC | 6,420 | ** | 2,939,140 | |||||||||||
INGERSOLL RAND INC | 81,514 | ** | 6,304,293 | |||||||||||
INTUIT INC | 28,981 | ** | 18,113,994 | |||||||||||
INTUITIVE SURGICAL INC | 29,862 | ** | 10,074,244 | |||||||||||
LEGEND BIOTECH CORP SPON ADR | 31,003 | ** | 1,865,451 | |||||||||||
ELI LILLY & CO | 16,346 | ** | 9,528,410 | |||||||||||
MASTERCARD INC CL A | 32,933 | ** | 14,046,254 | |||||||||||
MICROSOFT CORP | 161,019 | ** | 60,549,585 | |||||||||||
MONGODB INC CL A | 3,031 | ** | 1,239,224 | |||||||||||
MONSTER BEVERAGE CORP | 78,735 | ** | 4,535,923 | |||||||||||
NETFLIX INC | 11,464 | ** | 5,581,592 | |||||||||||
NVIDIA CORP | 48,915 | ** | 24,223,686 | |||||||||||
PAYLOCITY HOLDING CORP | 20,661 | ** | 3,405,966 | |||||||||||
PELOTON INTERACTIVE INC CL A | 150,475 | ** | 916,393 | |||||||||||
PENUMBRA INC | 6,145 | ** | 1,545,713 | |||||||||||
RIVIAN AUTOMOTIVE INC | 86,649 | ** | 2,032,786 | |||||||||||
ROSS STORES INC | 49,890 | ** | 6,904,277 | |||||||||||
SALESFORCE INC | 13,983 | ** | 3,679,487 | |||||||||||
SCHLUMBERGER LTD | 65,360 | ** | 3,401,334 | |||||||||||
SCHWAB CHARLES CORP | 22,300 | ** | 1,534,240 | |||||||||||
SERVICENOW INC | 11,938 | ** | 8,434,078 | |||||||||||
SNAP INC - A | 123,548 | ** | 2,091,668 | |||||||||||
STRYKER CORP | 31,300 | ** | 9,373,098 | |||||||||||
T-MOBILE US INC | 26,804 | ** | 4,297,485 | |||||||||||
TRADEWEB MARKETS INC A | 29,150 | ** | 2,649,152 | |||||||||||
UNITEDHEALTH GROUP INC | 34,314 | ** | 18,065,292 | |||||||||||
VERTEX PHARMACEUTICALS INC | 5,183 | ** | 2,108,911 | |||||||||||
VISA INC CL A | 44,653 | ** | 11,625,409 | |||||||||||
ASML HLDG NV (NY REG SHS) NEW YORK REGISTERED SHAR | 8,373 | ** | 6,337,691 | |||||||||||
SPOTIFY TECHNOLOGY SA | 17,932 | ** | 3,369,602 | |||||||||||
STRIPE INC CLASS B PP | 9,148 | ** | 224,949 | |||||||||||
MAGIC LEAP INC A P/P | 719 | ** | 309 | |||||||||||
GCI LIBERTY INC CL A ESCROWE LINE | 88,380 | ** | 1 | |||||||||||
* | NEXTERA ENERGY, INC. (PARTICIPANT-DIRECTED) | 6,516,819 | ** | 395,831,605 | ||||||||||
* | NEXTERA ENERGY, INC. (NONPARTICIPANT-DIRECTED) | 21,306,777 | $414,952,470 | 1,294,173,610 | ||||||||||
|
|
|
| |||||||||||
Total Common Stock | $414,952,470 | $ | 2,150,424,412 | |||||||||||
|
|
|
| |||||||||||
Preferred Stock: | ||||||||||||||
NURO INC/CA SER C PC PP | 47,663 | ** | $ | 259,763 | ||||||||||
SILA NANOTECHNOLOGIES INC SER F 0% PC PP | 9,212 | ** | 186,820 | |||||||||||
RAPPI INC SER E PFD PERP PP | 9,111 | ** | 207,002 | |||||||||||
|
|
|
| |||||||||||
Total Preferred Stock | — | $ | 653,585 | |||||||||||
|
|
|
| |||||||||||
Collective Trust Funds: | ||||||||||||||
* | BLACKROCK RUSSELL 2000 INDEX FUND M | 1,169,196 | ** | $ | 34,162,959 | |||||||||
* | BTC ACWI EX US IMI M | 2,384,903 | ** | 41,219,954 | ||||||||||
* | BTC EQUITY INDEX J | 13,437,263 | ** | 305,071,549 |
11
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, 2023
(a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||||||
* | BTC RUSSELL 3000 M | 4,954,686 | ** | 138,392,308 | ||||||||||
* | BTC US DEBT INDEX M | 3,755,689 | ** | 44,492,891 | ||||||||||
* | COHEN & STEERS US REALTY SHARES B | 2,422,954 | ** | 48,459,088 | ||||||||||
* | EARNEST SMID CP CORE | 18,262 | ** | 288,908 | ||||||||||
* | LS CORE PL FXINC D | 2,961,596 | ** | 48,214,776 | ||||||||||
* | PIMCO DIVERSIFIED REAL ASSET TRUST | 810,593 | ** | 14,606,879 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2020 TRUST PLUS | 474,735 | ** | 32,467,160 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2025 TRUST PLUS | 3,792,408 | ** | 281,889,687 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2030 TRUST PLUS | 1,668,077 | ** | 133,229,283 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2035 TRUST PLUS | 4,471,429 | ** | 383,425,079 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2040 TRUST PLUS | 942,996 | ** | 85,605,183 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2045 TRUST PLUS | 3,122,116 | ** | 293,572,595 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2050 TRUST PLUS | 709,918 | ** | 67,328,609 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2055 TRUST PLUS | 1,220,488 | ** | 115,580,188 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2060 TRUST PLUS | 495,309 | ** | 28,252,416 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2065 TRUST PLUS | 526,151 | ** | 18,536,293 | ||||||||||
* | VANGUARD TARGET RETIREMENT 2070 TRUST PLUS | 70,317 | ** | 1,501,266 | ||||||||||
* | VANGUARD TARGET RETIREMENT INCOME TRUST PLUS | 1,477,966 | ** | 77,681,876 | ||||||||||
* | BLACKROCK RUSSELL 2000 ALPHA TILTS FUND F | 2,926,640 | ** | 57,803,783 | ||||||||||
* | SSBK GOVERNMENT STIF FUND (US LARGE CAP GROWTH FUND) | 3,934,008 | ** | 3,934,008 | ||||||||||
* | SSBK STIF FUND (SMALL MID CAP GROWTH FUND) | 130,288 | ** | 130,288 | ||||||||||
|
|
|
| |||||||||||
Total Collective Trust Funds | — | $ | 2,255,847,026 | |||||||||||
|
|
|
| |||||||||||
Registered Investment Companies: | ||||||||||||||
* | AF EUROPAC GROWTH R6 | 1,369,952 | ** | $ | 74,936,389 | |||||||||
* | EATON VANCE FLOATING-RATE & HIGH INCOME FUND R6 | 2,599,940 | ** | 21,631,502 | ||||||||||
* | JPM EQUITY INCOME R6 FUND | 4,950,821 | ** | 113,769,869 | ||||||||||
* | VANGUARD VMMR-FED MONEY MARKET | 148,844,336 | ** | 148,844,336 | ||||||||||
* | FIDELITY INSTITUTIONAL CASH PORTFOLIO (NEXTERA ENERGY, INC. PARTICIPANT-DIRECTED) | 400,971 | ** | 400,971 | ||||||||||
* | FIDELITY INSTITUTIONAL CASH PORTFOLIO (NEXTERA ENERGY, INC. NONPARTICIPANT-DIRECTED) | 9,781,368 | $9,781,368 | 9,781,368 | ||||||||||
* | FIDELITY INSTITUTIONAL CASH PORTFOLIO (MANAGED INCOME FUND) | 3,580,286 | ** | 3,580,286 | ||||||||||
|
|
|
| |||||||||||
Total Registered Investment Companies | $9,781,368 | $ | 372,944,721 | |||||||||||
|
|
|
| |||||||||||
U.S. Treasury Notes: | ||||||||||||||
UST NOTES 1.25% 12/31/2026 | 1,164,100 | ** | $ | 1,074,598 | ||||||||||
UST NOTES 2.5% 03/31/2027 | 14,841,100 | ** | 14,279,061 | |||||||||||
UST NOTES 3.5% 01/31/2028 | 3,027,600 | ** | 3,024,165 | |||||||||||
UST NOTES 3.5% 04/30/2028 | 4,693,900 | ** | 4,648,542 | |||||||||||
UST NOTES 3.625% 03/31/2028 | 3,125,100 | ** | 3,119,985 | |||||||||||
UST NOTES 3.625% 05/31/2028 | 1,832,500 | ** | 1,818,941 | |||||||||||
UST NOTES 3.875% 11/30/2027 | 4,951,000 | ** | 4,957,331 | |||||||||||
UST NOTES 3.875% 12/31/2027 | 1,663,800 | ** | 1,661,639 | |||||||||||
UST NOTES 4% 02/15/2026 | 5,046,200 | ** | 5,099,379 | |||||||||||
UST NOTES 4% 02/29/2028 | 4,940,400 | ** | 5,023,388 | |||||||||||
UST NOTES 4% 06/30/2028 | 2,972,700 | ** | 2,987,077 | |||||||||||
UST NOTES 4% 12/15/2025 | 3,231,800 | ** | 3,220,509 | |||||||||||
UST NOTES 4.125% 06/15/2026 | 2,016,700 | ** | 2,020,091 | |||||||||||
UST NOTES 4.125% 07/31/2028 | 4,812,600 | ** | 4,945,306 | |||||||||||
UST NOTES 4.125% 09/30/2027 | 12,085,500 | ** | 12,288,653 | |||||||||||
UST NOTES 4.125% 10/31/2027 | 1,425,800 | ** | 1,444,891 | |||||||||||
UST NOTES 4.5% 11/15/2025 | 1,657,400 | ** | 1,672,598 | |||||||||||
UST NOTES 4.625% 03/15/2026 | 4,500,000 | ** | 4,600,775 | |||||||||||
UST NOTES 4.625% 06/30/2025 | 5,373,100 | ** | 5,386,586 | |||||||||||
UST NOTES 4.875% 10/31/2028 | 5,456,600 | ** | 5,740,814 | |||||||||||
UST NOTES 5% 08/31/2025 | 3,781,800 | ** | 3,880,559 | |||||||||||
|
|
|
| |||||||||||
Total U.S. Treasury Notes | — | $ | 92,894,888 | |||||||||||
|
|
|
| |||||||||||
Government Agency Notes: | ||||||||||||||
CA ST 2.40% 10/1/2025 | 440,000 | ** | $ | 425,406 | ||||||||||
NYC TFA (PIT) 2.85% 2/1/2024 | 155,000 | ** | 156,513 | |||||||||||
|
|
|
| |||||||||||
Total Government Agency Notes | — | $ | 581,919 | |||||||||||
|
|
|
| |||||||||||
Mortgage Backed Securities: | ||||||||||||||
BENCHMARK MORTGAGE TRUST 2018-B7 A2 4.377% 05/15/2053 | 271,780 | ** | $ | 268,175 | ||||||||||
BENCHMARK MTG TR 2018-B2 A2 3.6623% 02/15/2051 | 110,022 | ** | 106,220 | |||||||||||
BENCHMARK MTG TR 2018-B8 A2 4.149% 01/15/2052 | 104,992 | ** | 103,182 | |||||||||||
BX 2021-BXMF TSFR1M+75.041 10/15/2026 144A | 280,601 | ** | 276,133 | |||||||||||
BX COMMERCIAL MORTGAGE TRUST 2021-PAC TSFR1M+80.358 21 10/15/2036 144A | 325,000 | ** | 319,119 | |||||||||||
BX COMMERCIAL MORTGAGE TRUST 22-LP2 A TSFR1M+96.27 02/15/2039 144A | 332,128 | ** | 327,090 | |||||||||||
BX TR 2021-ACNT TSFR1M+96.448 11/15/2026 144A | 317,000 | ** | 313,475 | |||||||||||
CITIGROUP COML MTG TR 2014-GC23 A3 3.356% 07/10/2047 | 279,154 | ** | 276,475 | |||||||||||
CITIGROUP COML MTG TR 2016-GC36 AAB 3.368% 02/10/2049 | 115,333 | ** | 112,991 | |||||||||||
COMM 2015-CCRE23 MORTGAGE TRUST 3.257% 05/10/2048 | 56,710 | ** | 56,046 |
12
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, 2023
(a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||||||
COMM 2015-CR22 ASB MTG TR 3.144% 03/10/2048 | 45,735 | ** | 45,373 | |||||||||||
CSAIL 2015-C2 COML MTG TR 3.2241% 06/15/2057 | 52,517 | ** | 51,809 | |||||||||||
CSAIL 2017-CX9 A2 3.0538% 09/15/2050 | 9,639 | ** | 9,635 | |||||||||||
CSAIL 2019-C15 COML MTG TR 3.4505% 03/15/2052 | 295,111 | ** | 291,714 | |||||||||||
ELP COMMERCIAL MORTGAGE TRUST 2021-ELP TSFR1M+81.548 1 11/15/2036 144A | 443,484 | ** | 436,427 | |||||||||||
FANNIE MAE 2017-74 PA 3.5% 11/25/2045 | 225,375 | ** | 217,475 | |||||||||||
FEDERAL HOME LN MTG MLT CTF GT 2019-4872 AB 4% 08/15/2047 | 173,218 | ** | 169,834 | |||||||||||
FEDERAL HOME LN MTG MLT CTF GT 3% 07/25/2039 | 249,275 | ** | 233,540 | |||||||||||
FEDERAL HOME LN MTG MLT CTF GT 3.0% 05/15/2045 | 125,830 | ** | 119,027 | |||||||||||
FEDERAL HOME LN MTG MLT CTF GT 4% 07/15/2047 | 174,769 | ** | 171,696 | |||||||||||
FEDERAL HOME LN MTG MLT CTF GT 4135 AB 1.75% 06/15/2042 | 17,740 | ** | 16,203 | |||||||||||
FEDERAL HOME LN MTG MLT CTF GT 4847 CA 3.5% 11/15/2045 | 105,114 | ** | 102,835 | |||||||||||
FEDERAL HOME LN MTG MLT CTF GT 5.0% 02/15/2040 | 44,181 | ** | 44,632 | |||||||||||
FEDERAL HOME LN MTGE CORP 4765 QA 3% 02/15/2046 | 269,779 | ** | 255,252 | |||||||||||
FEDERAL NAT MTG ASN GTD REM 2011-26 PA 4.5% 04/25/2041 | 75,723 | ** | 75,260 | |||||||||||
FEDERAL NAT MTG ASN GTD REM 2017-97 P 3% 01/25/2047 | 260,130 | ** | 241,042 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 1.85% 05/25/2033 | 171,308 | ** | 155,964 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 2% 06/25/2035 | 426,335 | ** | 396,520 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 2.5% 05/25/2045 | 310,478 | ** | 288,982 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 2.5% 10/25/2039 | 178,531 | ** | 163,475 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 2012-149 DA 1.75% 01/25/2043 | 20,921 | ** | 19,203 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 2015-28 JE 3.0% 05/25/2045 | 247,088 | ** | 235,255 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 2017-11 HA 3.5% 12/25/2045 | 238,269 | ** | 228,881 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 2018-3 LP 3% 02/25/2047 | 398,328 | ** | 370,308 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 2019-14 DA 4% 03/25/2048 | 114,815 | ** | 112,129 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 2019-38 AB 3% 07/25/2039 | 320,269 | ** | 298,512 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 3% 03/25/2048 | 551,807 | ** | 520,558 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 3.0% 04/25/2044 | 75,536 | ** | 71,915 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 3.0% 06/25/2043 | 146,405 | ** | 138,458 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 3.5% 02/25/2046 | 150,755 | ** | 146,946 | |||||||||||
FEDERAL NAT MTG ASN GTD REM PA 4% 11/25/2048 | 136,308 | ** | 131,278 | |||||||||||
FEDERAL NATL MTG AS GTD RE PTT 2016-105 PA 3.5% 04/25/2045 | 119,169 | ** | 115,175 | |||||||||||
FEDERAL NATL MTG AS GTD RE PTT 2018-11 LA 3.5% 07/25/2045 | 155,718 | ** | 150,621 | |||||||||||
FHLG 7.50% 7/34 #G02115 | 20,995 | ** | 22,033 | |||||||||||
FHLG 15YR 2.5% 01/01/2028#SB0799 | 70,614 | ** | 68,233 | |||||||||||
FHLG 15YR 2.5% 12/01/2031#SB0093 | 315,620 | ** | 298,137 | |||||||||||
FHLG 15YR 3% 02/01/2034#SB0179 | 314,610 | ** | 301,870 | |||||||||||
FHLG 15YR 3% 03/01/2033#SB0181 | 567,333 | ** | 545,068 | |||||||||||
FHLG 15YR 3% 05/01/2033#G16550 | 224,974 | ** | 216,104 | |||||||||||
FHLG 15YR 3.5% 04/01/2034#SB0378 | 266,199 | ** | 259,213 | |||||||||||
FHLG 20YR 3% 11/01/2033#G30872 | 202,475 | ** | 193,217 | |||||||||||
FHLG 20YR 3.5% 06/01/2032#C91456 | 161,426 | ** | 157,297 | |||||||||||
FHLG 20YR 3.5% 07/01/2032#G31067 | 85,143 | ** | 82,966 | |||||||||||
FHLG 25YR 5.50% 7/35 #G05815 | 11,014 | ** | 11,340 | |||||||||||
FHLG 5.50% 3/34 #G01665 | 17,096 | ** | 17,615 | |||||||||||
FHLG 5.50% 5/34 #Z40042 | 125,877 | ** | 129,432 | |||||||||||
FHR 4683 EA 2.5% 05/47 | 277,361 | ** | 261,320 | |||||||||||
FNMA 6.50% 7/32 #545762 | 2,716 | ** | 2,831 | |||||||||||
FNMA 6.50% 7/35 #745092 | 2,997 | ** | 3,137 | |||||||||||
FNMA 6.50% 12/32 #735415 | 2,730 | ** | 2,846 | |||||||||||
FNMA 15YR 2% 02/01/2028#FS3865 | 76,211 | ** | 72,954 | |||||||||||
FNMA 15YR 2.5% 01/01/2028#FS3867 | 78,195 | ** | 75,514 | |||||||||||
FNMA 15YR 2.5% 01/01/2029# | 127,594 | ** | 122,541 | |||||||||||
FNMA 15YR 2.5% 10/01/2031#AS8010 | 138,291 | ** | 130,748 | |||||||||||
FNMA 15YR 3% 02/01/2033#BM5108 | 724,363 | ** | 695,935 | |||||||||||
FNMA 15YR 3% 12/01/2032#BM5109 | 705,331 | ** | 677,961 | |||||||||||
FNMA 15YR 3.5% 02/01/2033#FM9794 | 96,679 | ** | 94,444 | |||||||||||
FNMA 15YR 3.5% 02/01/2035#FM0065 | 328,722 | ** | 319,889 | |||||||||||
FNMA 15YR 3.5% 09/01/2029#AL5878 | 59,454 | ** | 58,378 | |||||||||||
FNMA 15YR 3.5% 09/01/2034#FM1577 | 244,316 | ** | 237,751 | |||||||||||
FNMA 15YR 3.5% 09/01/2034#FM1578 | 114,083 | ** | 110,981 | |||||||||||
FNMA 15YR 3.5% 10/01/2034#FM1579 | 67,761 | ** | 65,898 | |||||||||||
FNMA 15YR 3.5% 11/01/2030#AL7688 | 53,143 | ** | 52,100 | |||||||||||
FNMA 15YR 3.5% 12/01/2028#AV1907 | 4,950 | ** | 4,862 | |||||||||||
FNMA 15YR 4% 02/01/2034#FM3001 | 375,970 | ** | 374,104 | |||||||||||
FNMA 15YR 4% 03/01/2034#FM2867 | 842,587 | ** | 838,930 | |||||||||||
FNMA 15YR 4.5% 11/01/2025#AL8242 | 3,816 | ** | 3,803 | |||||||||||
FNMA 20YR 2.5% 01/01/2033#AL2974 | 59,036 | ** | 55,217 | |||||||||||
FNMA 20YR 2.5% 01/01/2033#AL2975 | 70,458 | ** | 65,901 | |||||||||||
FNMA 20YR 2.5% 01/01/2033#AL2976 | 39,037 | ** | 36,512 | |||||||||||
FNMA 20YR 2.5% 01/01/2033#AL2982 | 47,106 | ** | 44,059 | |||||||||||
FNMA 20YR 3% 07/01/2036#MA2672 | 691,721 | ** | 656,964 | |||||||||||
FNMA 20YR 3% 12/01/2040#FM4710 | 427,143 | ** | 401,809 | |||||||||||
FNMA 20YR 3% 12/01/2040#FM4711 | 525,930 | ** | 494,244 | |||||||||||
FNMA 20YR 3.00% 11/32 #MA1237 | 581,322 | ** | 554,110 |
13
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, 2023
(a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||||||
FNMA 20YR 4% 04/01/2038#MA3337 | 259,588 | ** | 253,824 | |||||||||||
FNMA 20YR 4.5% 03/01/2039#FM1774 | 36,563 | ** | 36,579 | |||||||||||
FNMA 20YR 4.5% 06/01/2039#FM1045 | 18,312 | ** | 18,320 | |||||||||||
FNMA 20YR 4.5% 08/01/2039#FM1353 | 50,885 | ** | 50,907 | |||||||||||
FNMA 30YR 4.5% 09/01/2049#FM1534 | 315,577 | ** | 313,544 | |||||||||||
FNMA 5.50% 11/34 #310105 | 89,799 | ** | 92,244 | |||||||||||
FNMA 6.50% 12/35 #AD0723 | 15,206 | ** | 15,884 | |||||||||||
FNMA 6.50% 7/32 #545759 | 4,721 | ** | 4,922 | |||||||||||
FNMA 6.50% 8/36 #888034 | 3,375 | ** | 3,522 | |||||||||||
FNMA 6.50% 8/36 #888544 | 13,233 | ** | 13,823 | |||||||||||
FNMA 6.50% 8/36 #AE0746 | 11,240 | ** | 11,733 | |||||||||||
FNMA GTD MTG PASS THRU CTF 3.5% 10/25/2044 | 185,222 | ** | 180,454 | |||||||||||
FNR 2013-16 GP 3% 1/1/33 | 43,341 | ** | 42,119 | |||||||||||
FNR 2015-42 LE 3.0% 06/25/45 | 177,043 | ** | 168,753 | |||||||||||
FNR 2015-49 LE 3% 07/45 | 142,163 | ** | 135,316 | |||||||||||
FNR 2015-54 GA 2.5% 07/25/2045 | 111,166 | ** | 105,805 | |||||||||||
FNR 2016-100 P 3.5% 11/44 | 199,650 | ** | 191,918 | |||||||||||
FNR 2016-19 AH 3% 04/46 | 147,554 | ** | 140,094 | |||||||||||
FNR 2016-26 CG 3% 05/46 | 388,665 | ** | 368,386 | |||||||||||
FNR 2016-27 HK 3% 01/25/2041 | 216,180 | ** | 204,827 | |||||||||||
FNR 2016-27 KG 3% 01/40 | 99,124 | ** | 93,970 | |||||||||||
FNR 2016-34 GH 3% 06/46 | 362,692 | ** | 344,789 | |||||||||||
FNR 2016-37 BK 3% 06/25/46 | 414,245 | ** | 393,841 | |||||||||||
FNR 2017-20 AP 3.5% 03/25/2045 | 278,068 | ** | 267,998 | |||||||||||
FNR 2018-16 NB 3.25% 12/25/2044 | 30,945 | ** | 30,304 | |||||||||||
FREDDIE MAC 4656 PA 3.5% 10/15/2045 | 170,611 | ** | 163,543 | |||||||||||
FREDDIE MAC REMICS 2018-4766 MA 3.5% 02/15/2046 | 262,661 | ** | 253,667 | |||||||||||
FREDDIE MAC REMICS 3% 10/25/2048 | 265,208 | ** | 246,916 | |||||||||||
GNII II 4% 04/20/2047#MA4383 | 163,190 | ** | 159,152 | |||||||||||
GS MTG SECS TR 2014-GC26 AAB 3.365% 11/10/2047 | 48,990 | ** | 48,655 | |||||||||||
GS MTG SECS TR 2015-GC28 AAB 3.206% 02/10/2048 | 51,189 | ** | 50,666 | |||||||||||
GS MTG SECS TR 2015-GC32 AAB 3.513% 07/10/2048 | 60,110 | ** | 59,258 | |||||||||||
* | JPMBB COML MTG SECS TR 2014-C22 3.8012% 09/15/2047 | 253,000 | ** | 249,352 | ||||||||||
* | JPMCC COML MTG SECS TR 2016-JP4 A2 2.984% 12/15/2049 | 30,458 | ** | 29,429 | ||||||||||
LIFE FINANCIAL SERVICES TRUST 2022 TSFR1M+129.52405/15/2039 144A | 459,000 | ** | 450,115 | |||||||||||
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2014-C16 ASB 3.477% 06/15/2047 | 5,960 | ** | 5,961 | |||||||||||
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2015-C21 ASB 3.15% 03/15/2048 | 16,528 | ** | 16,295 | |||||||||||
MORGAN STANLEY CAP I TR 2019-MEAD 3.17% 11/10/2036 144A | 374,000 | ** | 345,766 | |||||||||||
MSBAM 2014-C17 ASB 3.477% 8/47 | 14,012 | ** | 13,983 | |||||||||||
MSBAM 2015-C22 ASB 3.04% 04/15/48 | 29,936 | ** | 29,509 | |||||||||||
MSBAM 2016-C28 3.272% 01/15/49 | 135,491 | ** | 129,872 | |||||||||||
OPG TR 2021-PORT TSFR1M+59.848 8 10/15/2036 144A | 480,598 | ** | 470,800 | |||||||||||
SREIT TR 2021-MFP TSFR1M+84.528 08 11/15/2038 144A | 284,188 | ** | 280,299 | |||||||||||
WELLS FARGO COML MTG TR 15-C27 ASB 3.278% 02/15/2048 | 72,529 | ** | 71,592 | |||||||||||
WFCM 2016-C34 A2 2.603% 06/49 | 68,906 | ** | 69,309 | |||||||||||
WFRBS COML MTG TR 2014-C22 ASB 3.464% 09/15/2057 | 73,068 | ** | 72,597 | |||||||||||
WFRBS COML MTG TR 2014-C23 ASB 3.636% 10/15/2057 | 25,907 | ** | 25,734 | |||||||||||
|
|
|
| |||||||||||
Total Mortgage Backed Securities | — | $ | 23,729,454 | |||||||||||
|
|
|
| |||||||||||
Asset Backed Securities: | ||||||||||||||
AMERICAN EXPRESS CR ACC MST TR 3.39% 05/15/2027 | 800,000 | ** | $ | 784,885 | ||||||||||
AMERICAN EXPRESS CR ACC MST TR 3.75% 08/15/2027 | 660,000 | ** | 649,930 | |||||||||||
AMERICAN EXPRESS CR ACC MST TR 4.87% 05/15/2028 | 281,000 | ** | 283,755 | |||||||||||
AMERICAN EXPRESS CR ACC MST TR 4.95% 10/15/2027 | 408,000 | ** | 410,285 | |||||||||||
AMERICAN EXPRESS CR ACC MST TR 5.23% 09/15/2028 | 544,000 | ** | 554,271 | |||||||||||
BA CR CARD TR 3.53% 11/15/2027 | 747,000 | ** | 733,538 | |||||||||||
BA CR CARD TR 4.79% 05/15/2028 | 203,000 | ** | 204,203 | |||||||||||
BA CR CARD TR 4.98% 11/15/2028 | 246,000 | ** | 249,549 | |||||||||||
BA CR CARD TR 5% 04/15/2028 | 460,000 | ** | 463,819 | |||||||||||
BMW VECHILE OWNER TRUST 2023-A 5.47% 02/25/2028 | 73,000 | ** | 73,838 | |||||||||||
CAPITAL ONE MULTI-ASST EXEC TR 2.8% 03/15/2027 | 1,329,000 | ** | 1,296,997 | |||||||||||
CAPITAL ONE MULTI-ASST EXEC TR 3.49% 05/15/2027 | 800,000 | ** | 786,289 | |||||||||||
CAPITAL ONE MULTI-ASST EXEC TR 4.95% 10/15/2027 | 583,000 | ** | 585,964 | |||||||||||
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2023-2 5.82% 06/15/2028 | 422,000 | ** | 433,277 | |||||||||||
CARMAX AUTO OWNER TR 2023-2 5.05% 01/18/2028 | 544,000 | ** | 546,053 | |||||||||||
CARMAX AUTO OWNER TR 2023-4 6% 07/17/2028 | 82,000 | ** | 84,532 | |||||||||||
CARMX 2023-3 A3 5.28% 05/15/2028 | 340,000 | ** | 344,515 | |||||||||||
CHASE ISSUANCE TR 3.97% 09/15/2027 | 619,000 | ** | 611,829 | |||||||||||
CHASE ISSUANCE TR 5.08% 09/15/2030 | 576,000 | ** | 590,610 | |||||||||||
CHASE ISSUANCE TR 5.16% 09/15/2028 | 635,000 | ** | 646,528 | |||||||||||
CITIBANK CR CARD ISSUANCE TR 5.23% 12/08/2027 | 189,000 | ** | 190,999 | |||||||||||
DELL EQUIP FIN TR 2023-2 5.65% 01/22/2029 144A | 160,000 | ** | 162,149 | |||||||||||
DELL EQUIPMENT FINANCE TRUST 2023-3 5.93% 04/23/2029 144A | 215,000 | ** | 219,320 | |||||||||||
DISCOVER CARD EXECUTION NT TR 3.32% 05/15/2027/2027 | 670,000 | ** | 656,788 | |||||||||||
DISCOVER CARD EXECUTION NT TR 3.56% 07/15/202715/2027 | 622,000 | ** | 610,783 |
14
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, 2023
(a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||||||
DISCOVER CARD EXECUTION NT TR 5.03% 10/15/2027 | 574,000 | ** | 577,624 | |||||||||||
DLLAA 2023-1A 5.64% 02/22/2028 144A | 39,000 | ** | 39,698 | |||||||||||
FORD CR AUTO OWNER TR 2019-1 A 3.52% 07/15/2030 144A | 550,000 | ** | 550,372 | |||||||||||
FORD CR FLOORPLN MAST OWN TR A 4.92% 05/15/2028 144A | 344,000 | ** | 345,579 | |||||||||||
FORD CREDIT AUTO LEASE TRUST 2023-B 5.91% 10/15/2026 | 449,000 | ** | 455,362 | |||||||||||
FORD CREDIT AUTO OWNER TRUST 2023-B 5.23% 05/15/2028 | 308,000 | ** | 311,453 | |||||||||||
GM FINANCIAL AUTOMOBILE LEASING TRUST 23-2 5.05% 07/20/2026 | 342,000 | ** | 342,533 | |||||||||||
GM FINANCIAL LEASING TRUST 2023-3 5.38% 11/20/2026 | 40,000 | ** | 40,339 | |||||||||||
GM FINANCIAL SECURITIZED TERM AUTO RECEIVABLES TR2023-4 5.78% 08/16/2028 | 348,000 | ** | 357,761 | |||||||||||
GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2023-24.47% 02/16/2028 | 141,000 | ** | 140,374 | |||||||||||
GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2023-35.45% 06/16/2028 | 83,000 | ** | 84,467 | |||||||||||
GMF FLOORPLAN OWNER REVOLVING TR 5.34% 06/15/2028 144A | 455,000 | ** | 461,769 | |||||||||||
HAROT 2023-4 5.67% 06/21/2028 | 302,000 | ** | 308,877 | |||||||||||
HYUNDAI AUTO LEASE SECURITIZATION TRUST 2023-C 5.8% 12/15/2026 144A | 376,000 | ** | 381,578 | |||||||||||
HYUNDAI AUTO RECEIVABLES TRUST 2023-A 4.58% 04/15/2027 | 171,000 | ** | 170,398 | |||||||||||
HYUNDAI AUTO RECEIVABLES TRUST 2023-B 5.48% 04/17/2028 | 84,000 | ** | 85,643 | |||||||||||
HYUNDAI AUTO RECEIVABLES TRUST 2023-C 5.54% 10/16/2028 | 249,000 | ** | 254,857 | |||||||||||
MERCEDES-BENZ AUTO RECEIVABLES TR 2023-2 5.95% 11/15/2028 | 193,000 | ** | 199,023 | |||||||||||
NISSAN AUTO RECEIVABLES 2023-B OWNER TR 5.93% 03/15/2028 | 230,000 | ** | 236,236 | |||||||||||
PORSCHE FINL AUTO SECURITIZATION TR 2023 5.79% 01/22/2029 144A | 183,000 | ** | 187,246 | |||||||||||
TOYOTA AUTO RECEIVABLES 2023-D OWNER TR 5.54% 08/15/2028 | 247,000 | ** | 252,507 | |||||||||||
TOYOTA LEASE OWNER TRUST 2023-B 5.66% 11/20/2026 144A | 409,000 | ** | 415,739 | |||||||||||
USAA AUTO OWNER TRUST 2023-A 5.58% 05/15/2028 144A | 458,000 | ** | 464,804 | |||||||||||
VERIZON MASTER TRUST 2021-1 A 0.5% 05/20/2027 | 561,000 | ** | 549,974 | |||||||||||
VERIZON MASTER TRUST 2021-1 A 0.99% 04/20/2028 | 860,000 | ** | 830,943 | |||||||||||
VERIZON MASTER TRUST 3.72% 07/20/2027 | 319,000 | ** | 319,051 | |||||||||||
VERIZON MASTER TRUST 4.89% 04/13/2028 | 423,000 | ** | 422,289 | |||||||||||
VERIZON MASTER TRUST 5.61% 09/08/2028 | 400,000 | ** | 402,076 | |||||||||||
VOLKSWAGEN AUTO LEASE TRUST 2023-A 5.81% 10/20/2026 | 539,000 | ** | 546,657 | |||||||||||
VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2023-1 5.02% 06/20/2028 | 231,000 | ** | 232,645 | |||||||||||
VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2023-2 5.48% 12/20/2028 | 286,000 | ** | 292,466 | |||||||||||
WORLD OMNI AUTO RECEIVABLES TR 2023-D 5.79% 02/15/2029 | 276,000 | ** | 284,023 | |||||||||||
WORLD OMNI AUTO RECEIVABLES TRUST 2023-C 5.15% 11/15/2028 | 49,000 | ** | 49,519 | |||||||||||
|
|
|
| |||||||||||
Total Asset Backed Securities | — | $ | 22,768,588 | |||||||||||
|
|
|
| |||||||||||
Corporate Bonds: | ||||||||||||||
7 ELEVEN INC 0.95% 02/10/2026 144A | 229,000 | ** | $ | 212,500 | ||||||||||
7 ELEVEN INC 1.3% 02/10/2028 144A | 286,000 | ** | 251,669 | |||||||||||
* | BANK NEW YORK MELLON CORP 4.414%/VAR 07/24/2026 | 510,000 | ** | 514,428 | ||||||||||
BANK OF AMERICA CORPORATION 3.559/VAR 04/23/2027 | 510,000 | ** | 494,320 | |||||||||||
BANK OF AMERICA CORPORATION 4.948/VAR 07/22/2028 | 500,000 | ** | 510,753 | |||||||||||
BANK OF AMERICA CORPORATION SOFR+0 02/04/2028 | 700,000 | ** | 655,713 | |||||||||||
BANK OF MONTREAL QUE 0.949%/VAR 01/22/2027 | 510,000 | ** | 472,319 | |||||||||||
BANK OF MONTREAL QUE 1.85% 05/01/2025 | 800,000 | ** | 769,471 | |||||||||||
BANQUE FED CRED MUTUEL PARIS 1.604% 10/04/2026 144A | 510,000 | ** | 468,064 | |||||||||||
BANQUE FED CRED MUTUEL PARIS 4.524% 07/13/2025 144A | 526,000 | ** | 532,124 | |||||||||||
CANADIAN IMPERIAL BK OF COMM 3.45% 04/07/2027 | 800,000 | ** | 774,513 | |||||||||||
CANADIAN IMPERIAL BK OF COMM 3.945% 08/04/2025 | 569,000 | ** | 569,084 | |||||||||||
EQUINOR ASA 1.75% 01/22/2026 | 120,000 | ** | 114,393 | |||||||||||
GUARDIAN LIFE GLOBAL FUNDING 1.1% 06/23/2025 144A | 600,000 | ** | 566,329 | |||||||||||
GUARDIAN LIFE GLOBAL FUNDING 1.4% 07/06/2027 144A | 800,000 | ** | 719,595 | |||||||||||
* | JPMORGAN CHASE & CO 0.824/VAR 06/01/2025 | 587,000 | ** | 574,841 | ||||||||||
* | JPMORGAN CHASE & CO 1.045%/VAR 11/19/2026 | 660,000 | ** | 611,996 | ||||||||||
* | JPMORGAN CHASE & CO 1.578%/VAR 04/22/2027 | 510,000 | ** | 472,201 | ||||||||||
* | JPMORGAN CHASE & CO 2.083/VAR 04/22/2026 | 800,000 | ** | 769,512 | ||||||||||
* | JPMORGAN CHASE & CO 2.947%/VAR 02/24/2028 | 604,000 | ** | 574,557 | ||||||||||
* | JPMORGAN CHASE & CO 4.851%/VAR 07/25/2028 | 500,000 | ** | 510,691 | ||||||||||
* | JPMORGAN CHASE & CO SOFR 1.47%/VAR 09/22/2027 | 730,000 | ** | 664,366 | ||||||||||
MASSMUTUAL GLOBAL FDG II 4.5% 04/10/2026 144A | 600,000 | ** | 604,297 | |||||||||||
METROPOLITAN LIFE GLBL FDG I 3.45% 12/18/2026 144A | 510,000 | ** | 491,515 | |||||||||||
METROPOLITAN LIFE GLBL FDG I 4.05% 08/25/2025 144A | 800,000 | ** | 799,758 | |||||||||||
MORGAN STANLEY BK NA SALT LAKE 4.754% 04/21/2026 | 334,000 | ** | 336,862 | |||||||||||
MORGAN STANLEY BK NA SALT LAKE 5.882% 10/30/2026 | 400,000 | ** | 415,212 | |||||||||||
NEW YORK LIFE GLOBAL FDG 0.85% 01/15/2026 144A | 1,300,000 | ** | 1,206,200 | |||||||||||
NEW YORK LIFE GLOBAL FDG 5.45% 09/18/2026 144A | 700,000 | ** | 726,229 | |||||||||||
NORTHWESTERN MUTUAL GLOBAL FUNDING 0.8% 01/14/2026 144A | 1,200,000 | ** | 1,113,934 | |||||||||||
PACIFIC LIFE GF II 1.375% 04/14/2026 144A | 510,000 | ** | 472,571 | |||||||||||
PRICOA GLOBAL FDG I 2.4% 09/23/2024 144A | 651,000 | ** | 640,834 | |||||||||||
PROTECTIVE LIFE GLOBAL FUNDING 1.618% 04/15/2026 144A | 510,000 | ** | 472,212 | |||||||||||
PROTECTIVE LIFE GLOBAL FUNDING 3.218% 03/28/2025 144A | 154,000 | ** | 151,474 | |||||||||||
RGA GLOBAL FUNDING 2% 11/30/2026 144A | 781,000 | ** | 715,546 | |||||||||||
ROYAL BANK OF CANADA 1.15% 06/10/2025 | 610,000 | ** | 578,490 | |||||||||||
ROYAL BANK OF CANADA 1.4% 11/02/2026 | 510,000 | ** | 467,825 | |||||||||||
STATE STREET CORP 2.203%/VAR 02/07/2028 | 510,000 | ** | 478,209 | |||||||||||
TORONTO DOMINION BANK 1.25% 09/10/2026 | 510,000 | ** | 467,902 |
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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, 2023
(a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||||||
UBS AG LON BRANCH 1.25% 06/01/2026 | 510,000 | ** | 469,037 | |||||||||||
UBS AG LON BRANCH 1.375% 01/13/2025 144A | 501,000 | ** | 484,592 | |||||||||||
WELLS FARGO BK NATL ASSN 5.254% 12/11/2026 | 400,000 | ** | 406,057 | |||||||||||
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Total Corporate Bonds | — | $ | 23,302,195 | |||||||||||
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Synthetic guaranteed investment contract and wrapper contracts: | ||||||||||||||
ADJUSTMENT FROM FAIR VALUE TO CONTRACT VALUE GUARANTEED INVESTMENT CONTRACT |
| ** | $ | 11,635,958 | ||||||||||
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Total synthetic guaranteed investment contract and wrapper contracts | — | $ | 11,635,958 | |||||||||||
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* | Participant loans | | 3.25% - 8.50% Majority maturing 2024 - 2028 |
| ** | $ | 70,903,605 | |||||||
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Total investments at year end | $424,733,838 | $ | 5,026,337,632 | |||||||||||
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* | Party-in-interest |
** | Historical cost is disclosed only for nonparticipant-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 18, 2024 | NextEra Energy, Inc. Employee Retirement Savings Plan | |||||
(Name of Plan) | ||||||
By: | /s/ Nicole J. Daggs | |||||
Nicole J. Daggs Chairperson of the Employee Benefit Plans Administrative Committee |
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