EX-992neeq42024exhibit99.htmEX-99 Document

Exhibit 99

NextEra Energy, Inc.

Media Line: 561-694-4442

Jan. 24, 2025

FOR IMMEDIATE RELEASE

NextEra Energy reports fourth-quarter and full-year 2024 financial results

•NextEra Energy delivers strong full-year 2024 financial and operational results

•FPL grows regulatory capital employed by approximately 10% year-over-year and continues to keep customer bills as low as possible while delivering reliable electricity

•NextEra Energy Resources achieves another record year of new renewables and storage origination, adding more than 12 gigawatts to its backlog

JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported 2024 fourth-quarter net income attributable to NextEra Energy on a GAAP basis of $1.203 billion, or $0.58 per share, compared to $1.210 billion, or $0.59 per share, for the fourth quarter of 2023. On an adjusted basis, NextEra Energy's 2024 fourth-quarter earnings were $1.095 billion, or $0.53 per share, compared to $1.067 billion, or $0.52 per share, in the fourth quarter of 2023.

For the full year 2024, NextEra Energy reported net income attributable to NextEra Energy on a GAAP basis of $6.946 billion, or $3.37 per share, compared to $7.310 billion, or $3.60 per share, in 2023. On an adjusted basis, NextEra Energy's full-year 2024 earnings were $7.063 billion, or $3.43 per share, compared to $6.441 billion, or $3.17 per share, in 2023, which represents year-over-year growth in adjusted earnings per share of approximately 8.2%.

"NextEra Energy had an excellent year of execution in 2024, growing full-year adjusted earnings per share by more than 8% over 2023 and once again achieving the top end of our adjusted earnings per share expectations range," said John Ketchum, chairman, president and chief executive officer. "Continuing our track record of providing long-term value for shareholders, we have delivered compound annual growth in adjusted earnings per share of more than 10% since 2021 and of approximately 10% over the past 10 years, both of which are the highest among all top-10 power companies. NextEra Energy generates more electricity and invests more in energy infrastructure than any other company in the U.S. and in 2024 placed into service roughly 8.7 gigawatts of new renewables and storage projects, expanding our leadership in power generation.

With experience in every part of the energy value chain and a track record of delivering for our customers and shareholders, we believe NextEra Energy is well positioned to capitalize on the opportunity set that lies ahead and the increased power demand that is happening now in the U.S. Given the strength of both of our businesses, we will be disappointed if we are not able to deliver financial results at or near the top of our adjusted earnings per share expectations ranges in each year through 2027, while maintaining our strong balance sheet and credit ratings."

FPL

FPL reported fourth-quarter 2024 net income on a GAAP basis of $845 million, or $0.41 per share, compared to $1,146 million, or $0.56 per share, for the prior-year comparable quarter. On an adjusted basis, FPL's 2024 fourth-quarter earnings were $845 million, or $0.41 per share, compared to $846 million, or $0.41 per share, in the prior-year comparable quarter. For the full year 2024, FPL reported net income on a GAAP basis of $4.543 billion, or $2.21 per share, compared to $4.552 billion, or $2.24 per share, in 2023. On an adjusted basis, FPL's full-year 2024 earnings were $4.543 billion, or $2.21 per share, compared to $4.251 billion, or $2.09 per share, in 2023.

FPL's full-year growth primarily was driven by continued smart capital investments and innovation. FPL's capital expenditures were approximately $1.8 billion for the fourth quarter of 2024, bringing its full-year capital investments to a total of approximately $8.2 billion. Regulatory capital employed increased by approximately 10% for 2024. In

2024, FPL's capital investments supported the successful commissioning of roughly 2.2 gigawatts (GW) of new, cost-effective solar and the continued hardening of its grid and its efforts to underground its distribution system.

FPL continues to focus on running the business efficiently and delivering on its strong customer value proposition, which is anchored in providing a typical residential customer bill that is nearly 40% below the national average and maintaining top-decile reliability. FPL's smart capital investments in low-cost solar generation and battery storage are continuing to reduce its overall fuel cost and, when combined with generation modernizations, have saved customers nearly $16 billion since 2001. FPL's best-in-class non-fuel O&M cost per customer is 50% better than the second best in its peer group of large utilities, saving customers over $24 each month on a typical 1,000-kilowatt-hour residential customer bill, compared to an average-performing utility.

In December 2024, FPL filed a test year letter with the Florida Public Service Commission to initiate a customary, nearly year-long rate proceeding for new base rates beginning in January 2026. The four-year plan FPL intends to propose would enable the company to continue to diversify its electricity generation mix, protecting customers from fuel price volatility, and continue to deliver some of the country's most reliable electricity to its customers, all while keeping bills as low as possible. While the details are still being finalized, FPL estimates its proposal, along with projections for fuel and other costs, would increase a typical residential customer bill by an average annual rate of approximately 2.5% from January 2025 through 2029.

Importantly, even with the proposed rate adjustment, FPL expects that its typical residential customer bills would remain well below the national average and below many other Florida electric utilities, just as they have for more than a decade.

NextEra Energy Resources

NextEra Energy Resources reported fourth-quarter 2024 net loss attributable to NextEra Energy on a GAAP basis of $442 million, or $0.21 per share, compared to net income attributable to NextEra Energy of $885 million, or $0.43 per share, in the prior-year comparable quarter. On an adjusted basis, NextEra Energy Resources' earnings for the fourth quarter of 2024 were $446 million, or $0.22 per share, compared to $361 million, or $0.18 per share, for the fourth quarter of 2023.

For the full year 2024, NextEra Energy Resources reported net income attributable to NextEra Energy on a GAAP basis of $2.299 billion, or $1.12 per share, compared to $3.558 billion, or $1.75 per share, in the prior-year comparable quarter. On an adjusted basis, NextEra Energy Resources' earnings for the full year 2024 were $3.118 billion, or $1.51 per share, compared to $2.757 billion, or $1.36 per share, for the full year 2023.

For the third year in a row, NextEra Energy Resources delivered its best year ever for origination, adding more than 12 GW of new renewables and battery storage projects to its backlog, including approximately 3.3 GW since the third-quarter 2024 financial results call last October. NextEra Energy Resources' 2024 origination performance reflects continued strong demand from power and commercial and industrial customers looking for the least-cost alternative to serve load and meet their increasing demand. With more than 6 GW of new projects placed into service over the last four quarters, NextEra Energy Resources' backlog now totals more than 25 GW.

In addition, NextEra Energy Resources is continuing to make progress in evaluating the recommissioning of its Duane Arnold Energy Center in Iowa. Recently, the company filed notice with the Nuclear Regulatory Commission to request a licensing change—an important first step in establishing the regulatory pathway to restore the facility’s operating license and potentially restart plant operations as early as the end of 2028.

Corporate and Other

In the fourth quarter of 2024 on a GAAP basis, Corporate and Other results increased $0.78 per share, compared to the prior-year comparable quarter. On an adjusted basis, Corporate and Other results for the fourth quarter of 2024 decreased $0.03 per share, compared to the prior-year comparable quarter. For the full year 2024, Corporate and Other results increased $0.43 per share on a GAAP basis, compared to 2023. On an adjusted basis, Corporate and Other results for the full year 2024 decreased $0.01 per share, compared to 2023.

Outlook

NextEra Energy's long-term financial expectations remain unchanged. G1For 2025, NextEra Energy continues to expect adjusted earnings per share to be in the range of $3.45 to $3.70. G2For 2026 and 2027, NextEra Energy expects adjusted earnings per share to be in the ranges of $3.63 to $4.00 and $3.85 to $4.32, respectively. G3NextEra Energy also continues to expect to grow its dividends per share at a roughly 10% rate per year through at least 2026, off a 2024 base.

Conference call information

As previously announced, NextEra Energy's fourth-quarter and full-year 2024 financial results conference call is scheduled for 9 a.m. ET today. The listen-only webcast will be available on NextEra Energy's website by accessing the following link: www.NextEraEnergy.com/FinancialResults. The news release and slides accompanying the presentation may be downloaded at www.NextEraEnergy.com/FinancialResults, beginning at 7:30 a.m. ET today. A replay will be available for 90 days by accessing the same link as listed above.

NextEra Energy, Inc.

NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns Florida Power & Light Company, which is America's largest electric utility that sells more power than any other utility, providing clean, affordable, reliable electricity to more than 6 million customer accounts, or approximately 12 million people across Florida. NextEra Energy also owns a competitive clean energy business, NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from seven commercial nuclear power units in Florida, New Hampshire and Wisconsin.

A Fortune 200 company, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

###

Adjusted earnings for the periods in this news release exclude the effects of non-qualifying hedges; XPLR Infrastructure, LP net investment gains; differential membership interests-related; change in unrealized gains and losses on equity securities held in NextEra Energy Resources' nuclear decommissioning funds and other than temporary impairments (OTTI); the gain on disposal of a business and impairment charges.

NextEra Energy's management uses adjusted earnings, which is a non-GAAP financial measure, internally for financial planning, analysis of performance, reporting of results to the board of directors and as an input in determining performance-based compensation under the company's employee incentive compensation plans. NextEra Energy also uses earnings expressed in this fashion when communicating its financial results and earnings outlook to analysts and investors. NextEra Energy's management believes that adjusted earnings provide a more meaningful representation of NextEra Energy's fundamental earnings power. A reconciliation of historical adjusted earnings to net income attributable to NextEra Energy, which is the most directly comparable GAAP measure, is included in the attachments to this news release. Adjusted earnings does not represent a substitute for net income, as prepared in accordance with GAAP.

NextEra Energy does not provide a quantitative reconciliation of forward-looking adjusted earnings per share to earnings per share, the most directly comparable GAAP financial measure, because certain information needed to reconcile these measures is not available without unreasonable efforts due to the inherent difficulty in forecasting and quantifying these measures. These items include, but are not limited to, the effects of non-qualifying hedges and unrealized gains and losses on equity securities held in NextEra Energy Resources, LLC's nuclear decommissioning funds and other than temporary impairments. These items could significantly impact GAAP earnings per share. Adjusted earnings expectations assume, among other things, normal weather and operating conditions; positive macroeconomic conditions in the U.S. and Florida; supportive commodity markets; current forward curves; public policy support for wind, solar, and storage development and construction; market demand and transmission expansion to support wind, solar and storage development; market demand for pipeline capacity; access to capital at reasonable cost and terms; divestitures to XPLR Infrastructure, LP; no adverse litigation decisions; and no changes to governmental policies or incentives. Please see the accompanying cautionary statements for a list of the risk factors that may affect future results.

This news release should be read in conjunction with the attached unaudited financial information.

Cautionary Statements and Risk Factors That May Affect Future Results

This news release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of NextEra Energy, Inc. (NextEra Energy) and Florida Power & Light Company (FPL) regarding future operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NextEra Energy's and FPL's control. Forward-looking statements in this news release include, among others, statements concerning adjusted earnings per share expectations and future operating performance and statements concerning future dividends. In some cases, you can identify the forward-looking statements by words or phrases such as “will,” “may result,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “seek,” “potential,” “projection,” “forecast,” “predict,” “goals,” “target,” “outlook,” “should,” “would” or similar words or expressions.

You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance. The future results of NextEra Energy and FPL and their business and financial condition are subject to risks and uncertainties that could cause their actual results to differ materially from those expressed or implied in the

forward-looking statements, or may require them to limit or eliminate certain operations. These risks and uncertainties include, but are not limited to, those discussed in this news release and the following: effects of extensive regulation of NextEra Energy's and FPL's business operations; inability of NextEra Energy and FPL to recover in a timely manner any significant amount of costs, a return on certain assets or a reasonable return on invested capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise; impact of political, regulatory, operational and economic factors on regulatory decisions important to NextEra Energy and FPL; effect of any reductions or modifications to, or elimination of, governmental incentives or policies that support utility scale renewable energy projects of NextEra Energy and FPL and its affiliated entities or the imposition of additional tax laws, tariffs, duties, policies or assessments on renewable energy or equipment necessary to generate it or deliver it; impact of new or revised laws, regulations, interpretations or constitutional ballot and regulatory initiatives on NextEra Energy and FPL; capital expenditures, increased operating costs and various liabilities attributable to environmental laws, regulations and other standards applicable to NextEra Energy and FPL; effects on NextEra Energy and FPL of federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions; exposure of NextEra Energy and FPL to significant and increasing compliance costs and substantial monetary penalties and other sanctions as a result of extensive federal regulation of their operations and businesses; effect on NextEra Energy and FPL of changes in tax laws, guidance or policies as well as in judgments and estimates used to determine tax-related asset and liability amounts; impact on NextEra Energy and FPL of adverse results of litigation; impacts on NextEra Energy or FPL of allegations of violations of law; effect on NextEra Energy and FPL of failure to proceed with projects under development or inability to complete the construction of (or capital improvements to) electric generation, transmission and distribution facilities, gas infrastructure facilities or other facilities on schedule or within budget; impact on development and operating activities of NextEra Energy and FPL resulting from risks related to project siting, planning, financing, construction, permitting, governmental approvals and the negotiation of project development agreements, as well as supply chain disruptions; risks involved in the operation and maintenance of electric generation, storage, transmission and distribution facilities, gas infrastructure facilities, and other facilities; effect on NextEra Energy and FPL of a lack of growth, slower growth or a decline in the number of customers or in customer usage; impact on NextEra Energy and FPL of severe weather and other weather conditions; threats of geopolitical factors, terrorism and catastrophic events that could result from terrorism, cyberattacks or other attempts to disrupt NextEra Energy's and FPL's business or the businesses of third parties; inability to obtain adequate insurance coverage for protection of NextEra Energy and FPL against significant losses and risk that insurance coverage does not provide protection against all significant losses; a prolonged period of low gas and oil prices could impact NextEra Energy Resources, LLC’s (NextEra Energy Resources) gas infrastructure business and cause NextEra Energy Resources to delay or cancel certain gas infrastructure projects and could result in certain projects becoming impaired; risk to NextEra Energy Resources of increased operating costs resulting from unfavorable supply costs necessary to provide NextEra Energy Resources' full energy and capacity requirement services; inability or failure by NextEra Energy Resources to manage properly or hedge effectively the commodity risk within its portfolio; effect of reductions in the liquidity in energy markets on NextEra Energy's ability to manage operational risks; effectiveness of NextEra Energy's and FPL's risk management tools associated with their hedging and trading procedures to protect against significant losses, including the effect of unforeseen price variances from historical behavior; impact of unavailability or disruption of power transmission or commodity transportation facilities on sale and delivery of power or natural gas by NextEra Energy, including FPL; exposure of NextEra Energy and FPL to credit and performance risk from customers, hedging counterparties and vendors; failure of NextEra Energy or FPL counterparties to perform under derivative contracts or of requirement for NextEra Energy or FPL to post margin cash collateral under derivative contracts; failure or breach of NextEra Energy's or FPL's information technology systems; risks to NextEra Energy and FPL's retail businesses from compromise of sensitive customer data; losses from volatility in the market values of derivative instruments and limited liquidity in over-the-counter markets; impact of negative publicity; inability of FPL to maintain, negotiate or renegotiate acceptable franchise agreements with municipalities and counties in Florida; occurrence of work strikes or stoppages and increasing personnel costs; NextEra Energy's ability to successfully identify, complete and integrate acquisitions, including the effect of increased competition for acquisitions; environmental, health and financial risks associated with NextEra Energy Resources’ and FPL's ownership and operation of nuclear generation facilities; liability of NextEra Energy and FPL for significant retrospective assessments and/or retrospective insurance premiums in the event of an incident at certain nuclear generation facilities; increased operating and capital expenditures and/or reduced revenues at nuclear generation facilities of NextEra Energy or FPL resulting from orders or new regulations of the Nuclear Regulatory Commission; inability to operate any of NextEra Energy Resources' or FPL's owned nuclear generation units through the end of their respective operating licenses or planned license extensions; effect of disruptions, uncertainty or volatility in the credit and capital markets or actions by third parties in connection with project-specific or other financing arrangements on NextEra Energy's and FPL's ability to fund their liquidity and capital needs and meet their growth objectives; inability of NextEra Energy, FPL and NextEra Energy Capital Holdings, Inc. to maintain their current credit ratings; impairment of NextEra Energy's and FPL's liquidity from inability of credit providers to fund their credit commitments or to maintain their current credit ratings; poor market performance and other economic factors that could affect NextEra Energy's defined benefit pension plan's funded status; poor market performance and other risks to the asset values of NextEra Energy's and FPL's nuclear decommissioning funds; changes in market value and other risks to certain of NextEra Energy's investments; effect of inability of NextEra Energy subsidiaries to pay upstream dividends or repay funds to NextEra Energy or of NextEra Energy's performance under guarantees of subsidiary obligations on NextEra Energy's ability to meet its financial obligations and to pay dividends on its common stock; the fact that the amount and timing of dividends payable on NextEra Energy's common stock, as well as the dividend policy approved by NextEra Energy's board of directors from time to time, and changes to that policy, are within the sole discretion of NextEra Energy's board of directors and, if declared and paid, dividends may be in amounts that are less than might be expected by shareholders; XPLR Infrastructure, LP’s inability to access sources of capital on commercially reasonable terms could have an effect on its ability to consummate future acquisitions and on the value of NextEra Energy’s limited partner interest in XPLR Infrastructure Operating Partners, LP; effects of disruptions, uncertainty or volatility in the credit and capital markets on the market price of NextEra Energy's common stock; and the ultimate severity and duration of

public health crises, epidemics and pandemics, and its effects on NextEra Energy’s or FPL’s businesses. NextEra Energy and FPL discuss these and other risks and uncertainties in their annual report on Form 10-K for the year ended December 31, 2023 and other Securities and Exchange Commission (SEC) filings, and this news release should be read in conjunction with such SEC filings. The forward-looking statements made in this news release are made only as of the date of this news release and NextEra Energy and FPL undertake no obligation to update any forward-looking statements.

NextEra Energy, Inc.

Condensed Consolidated Statements of Income

(millions, except per share amounts)

(unaudited)

Preliminary

Three Months Ended December 31, 2024

FPL

NEER

Corporate and

Other(a)

NextEra Energy

Operating Revenues

3,855

1,448

5,385

Operating Expenses

Fuel, purchased power and interchange

865

227

—

1,092

Other operations and maintenance

438

721

157

1,316

Depreciation and amortization

856

642

1,513

Taxes other than income taxes and other – net

449

108

—

557

Total operating expenses – net

2,608

1,698

172

4,478

Gains (losses) on disposal of businesses/assets – net

(2)

Operating Income (Loss)

1,248

(215)

(92)

941

Other Income (Deductions)

Interest expense

(304)

(47)

1,076

725

Equity in earnings (losses) of equity method investees

—

(845)

—

(845)

Allowance for equity funds used during construction

—

Gains (losses) on disposal of investments and other property – net

—

Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net

—

(41)

—

(41)

Other net periodic benefit income

—

Other – net

117

Total other income (deductions) – net

(246)

(815)

1,164

103

Income (Loss) before Income Taxes

1,002

(1,030)

1,072

1,044

Income Tax Expense (Benefit)

157

(258)

272

171

Net Income (Loss)

845

(772)

800

873

Net Loss Attributable to Noncontrolling Interests

—

330

—

330

Net Income (Loss) Attributable to NextEra Energy, Inc.

845

(442)

800

1,203

Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss):

Net Income (Loss) Attributable to NextEra Energy, Inc.

845

(442)

800

1,203

Adjustments – pretax:(b)

Net losses (gains) associated with non-qualifying hedges

—

109

(1,336)

(1,227)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

—

XPLR Infrastructure, LP investment gains – net

—

1,033

—

1,033

Less related income tax expense (benefit)(c)

—

(293)

340

Adjusted Earnings (Loss)

845

446

(196)

1,095

Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)

0.41

(0.21)

0.38

0.58

Adjustments – pretax:(b)

Net losses (gains) associated with non-qualifying hedges

—

0.05

(0.65)

(0.60)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

—

0.02

—

0.02

XPLR Infrastructure, LP investment gains – net

—

0.50

—

0.50

Less related income tax expense (benefit)(c)

—

(0.14)

0.17

0.03

Adjusted Earnings (Loss) Per Share

0.41

0.22

(0.10)

0.53

Weighted-average shares outstanding (assuming dilution)

2,062

————————————

(a)

Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual corporate interest expense is included in Corporate and Other.

(b)

After tax impact by segment is as follows:

NEER

Corporate and Other

NextEra Energy

Adjusted Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Net losses (gains) associated with non-qualifying hedges

0.04

(996)

(0.48)

(915)

(0.44)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

0.01

—

0.01

XPLR Infrastructure, LP investment gains – net

781

0.38

—

781

0.38

(c)

Includes the effects of rounding.

NextEra Energy, Inc.

Condensed Consolidated Statements of Income

(millions, except per share amounts)

(unaudited)

Preliminary

Three Months Ended December 31, 2023

FPL

NEER

Corporate and

Other(a)

NextEra Energy

Operating Revenues

4,196

2,656

6,877

Operating Expenses

Fuel, purchased power and interchange

996

207

(25)

1,178

Other operations and maintenance

403

773

115

1,291

Depreciation and amortization

1,046

540

1,607

Taxes other than income taxes and other – net

463

(1)

535

Total operating expenses – net

2,908

1,593

110

4,611

Gains (losses) on disposal of businesses/assets – net

407

(10)

(3)

394

Operating Income (Loss)

1,695

1,053

(88)

2,660

Other Income (Deductions)

Interest expense

(307)

(584)

(1,090)

(1,981)

Equity in earnings (losses) of equity method investees

—

Allowance for equity funds used during construction

—

Gains (losses) on disposal of investments and other property – net

—

(1)

—

(1)

Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net

—

169

—

169

Other net periodic benefit income

—

Other – net

Total other income (deductions) – net

(251)

(314)

(1,012)

(1,577)

Income (Loss) before Income Taxes

1,444

739

(1,100)

1,083

Income Tax Expense (Benefit)

298

150

(279)

169

Net Income (Loss)

1,146

589

(821)

914

Net Loss Attributable to Noncontrolling Interests

—

296

—

296

Net Income (Loss) Attributable to NextEra Energy, Inc.

1,146

885

(821)

1,210

Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss):

Net Income (Loss) Attributable to NextEra Energy, Inc.

1,146

885

(821)

1,210

Adjustments – pretax:(b)

Net losses (gains) associated with non-qualifying hedges

—

(561)

909

348

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net

—

(169)

—

(169)

Differential membership interests – related

—

XPLR Infrastructure, LP investment gains – net

—

Gain on disposal of a business

(406)

—

(406)

Less related income tax expense (benefit)(c)

106

148

(228)

Adjusted Earnings (Loss)

846

361

(140)

1,067

Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)

0.56

0.43

(0.40)

0.59

Adjustments – pretax:(b)

Net losses (gains) associated with non-qualifying hedges

—

(0.27)

0.44

0.17

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net

—

(0.08)

—

(0.08)

Differential membership interests – related

—

0.01

—

0.01

XPLR Infrastructure, LP investment gains – net

—

0.02

—

0.02

Gain on disposal of a business

(0.20)

—

(0.20)

Less related income tax expense (benefit)(c)

0.05

0.07

(0.11)

0.01

Adjusted Earnings (Loss) Per Share

0.41

0.18

(0.07)

0.52

Weighted-average shares outstanding (assuming dilution)

2,054

————————————

(a)

Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other.

(b)

After tax impact by segment is as follows:

FPL

NEER

Corporate and Other

NextEra Energy

Adjusted Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Net losses (gains) associated with non-qualifying hedges

—

(434)

(0.21)

681

0.33

247

0.12

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net

—

(121)

(0.06)

—

(121)

(0.06)

Differential membership interests – related

—

0.01

—

0.01

XPLR Infrastructure, LP investment gains – net

—

0.01

—

0.01

Gain on disposal of a business

(300)

(0.15)

(6)

—

(306)

(0.15)

(c)

Includes the effects of rounding.

NextEra Energy, Inc.

Condensed Consolidated Statements of Income

(millions, except per share amounts)

(unaudited)

Preliminary

Twelve Months Ended December 31, 2024

FPL

NEER

Corporate and

Other(a)

NextEra Energy

Operating Revenues

17,019

7,542

192

24,753

Operating Expenses

Fuel, purchased power and interchange

4,188

914

(73)

5,029

Other operations and maintenance

1,609

2,776

472

4,857

Depreciation and amortization

2,827

2,577

5,462

Taxes other than income taxes and other – net

1,904

371

2,278

Total operating expenses – net

10,528

6,638

460

17,626

Gains (losses) on disposal of businesses/assets – net

361

(10)

352

Operating Income (Loss)

6,492

1,265

(278)

7,479

Other Income (Deductions)

Interest expense

(1,178)

(1,114)

(2,235)

Equity in earnings (losses) of equity method investees

—

(267)

(246)

Allowance for equity funds used during construction

189

—

198

Gains (losses) on disposal of investments and other property – net

—

162

163

Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net

—

107

—

107

Other net periodic benefit income

—

235

Other – net

234

336

Total other income (deductions) – net

(979)

(869)

406

(1,442)

Income (Loss) before Income Taxes

5,513

396

128

6,037

Income Tax Expense (Benefit)

970

(655)

339

Net Income (Loss)

4,543

1,051

104

5,698

Net Loss Attributable to Noncontrolling Interests

—

1,248

—

1,248

Net Income (Loss) Attributable to NextEra Energy, Inc.

4,543

2,299

104

6,946

Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss):

Net Income (Loss) Attributable to NextEra Energy, Inc.

4,543

2,299

104

6,946

Adjustments – pretax:(b)

Net losses (gains) associated with non-qualifying hedges

—

(942)

(935)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

—

(113)

—

(113)

Differential membership interests – related

—

XPLR Infrastructure, LP investment gains – net

—

1,129

—

1,129

Less related income tax expense (benefit)(c)

—

(210)

240

Adjusted Earnings (Loss)

4,543

3,118

(598)

7,063

Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)

2.21

1.12

0.04

3.37

Adjustments – pretax:(b)

Net losses (gains) associated with non-qualifying hedges

—

(0.45)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

—

(0.05)

—

(0.05)

Differential membership interests – related

—

XPLR Infrastructure, LP investment gains – net

—

0.55

—

0.55

Less related income tax expense (benefit)(c)

—

(0.11)

0.12

0.01

Adjusted Earnings (Loss) Per Share

2.21

1.51

(0.29)

3.43

Weighted-average shares outstanding (assuming dilution)

2,059

————————————

(a)

(b)

After tax impact by segment is as follows:

NEER

Corporate and Other

NextEra Energy

Adjusted Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Net losses (gains) associated with non-qualifying hedges

0.01

(702)

(0.33)

(666)

(0.32)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

(74)

(0.03)

—

(74)

(0.03)

Differential membership interests – related

—

XPLR Infrastructure, LP investment gains – net

852

0.41

—

852

0.41

(c)

Includes the effects of rounding.

NextEra Energy, Inc.

Condensed Consolidated Statements of Income

(millions, except per share amounts)

(unaudited)

Preliminary

Twelve Months Ended December 31, 2023

FPL

NEER

Corporate and

Other(a)

NextEra Energy

Operating Revenues

18,365

9,672

28,114

Operating Expenses

Fuel, purchased power and interchange

4,761

795

(99)

5,457

Other operations and maintenance

1,666

2,601

414

4,681

Depreciation and amortization

3,789

2,009

5,879

Taxes other than income taxes and other – net

1,959

301

2,265

Total operating expenses – net

12,175

5,706

401

18,282

Gains (losses) on disposal of businesses/assets – net

407

(3)

405

Operating Income (Loss)

6,597

3,963

(323)

10,237

Other Income (Deductions)

Interest expense

(1,114)

(1,129)

(1,081)

(3,324)

Equity in earnings (losses) of equity method investees

—

(649)

(648)

Allowance for equity funds used during construction

155

—

161

Gains (losses) on disposal of investments and other property – net

—

125

—

125

Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net

—

159

—

159

Other net periodic benefit income

—

245

Other – net

232

333

Total other income (deductions) – net

(922)

(1,256)

(771)

(2,949)

Income (Loss) before Income Taxes

5,675

2,707

(1,094)

7,288

Income Tax Expense (Benefit)

1,123

177

(294)

1,006

Net Income (Loss)

4,552

2,530

(800)

6,282

Net Loss Attributable to Noncontrolling Interests

—

1,028

—

1,028

Net Income (Loss) Attributable to NextEra Energy, Inc.

4,552

3,558

(800)

7,310

Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss):

Net Income (Loss) Attributable to NextEra Energy, Inc.

4,552

3,558

(800)

7,310

Adjustments – pretax:(b)

Net losses (gains) associated with non-qualifying hedges

—

(2,259)

310

(1,949)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

—

(165)

—

(165)

Differential membership interests – related

—

XPLR Infrastructure, LP investment gains – net

—

1,294

—

1,294

Gain on disposal of a business

(406)

—

(406)

Impairment charges related to investment in Mountain Valley Pipeline

—

Less related income tax expense (benefit)(c)

105

206

(77)

234

Adjusted Earnings (Loss)

4,251

2,757

(567)

6,441

Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)

2.24

1.75

(0.39)

3.60

Adjustments – pretax:(b)

Net losses (gains) associated with non-qualifying hedges

—

(1.11)

0.15

(0.96)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

—

(0.08)

—

(0.08)

Differential membership interests – related

—

0.03

—

0.03

XPLR Infrastructure, LP investment gains – net

—

0.64

—

0.64

Gain on disposal of a business

(0.20)

—

(0.20)

Impairment charges related to investment in Mountain Valley Pipeline

—

0.03

—

0.03

Less related income tax expense (benefit)(c)

0.05

0.10

(0.04)

0.11

Adjusted Earnings (Loss) Per Share

2.09

1.36

(0.28)

3.17

Weighted-average shares outstanding (assuming dilution)

2,031

————————————

(a)

Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other.

(b)

After tax impact by segment is as follows:

FPL

NEER

Corporate and Other

NextEra Energy

Adjusted

Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Adjusted Earnings

Adjusted

EPS

Net losses (gains) associated with non-qualifying hedges

—

(1,729)

(0.85)

232

0.11

(1,497)

(0.74)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

—

(116)

(0.05)

—

(116)

(0.05)

Differential membership interests – related

—

0.02

—

0.02

XPLR Infrastructure, LP investment gains – net

—

963

0.47

—

963

0.47

Gain on disposal of businesses/assets

(300)

(0.15)

(6)

—

(306)

(0.15)

Impairment charges related to investment in Mountain Valley Pipeline

—

0.02

—

0.02

(c)

Includes the effects of rounding.

NextEra Energy, Inc.

Condensed Consolidated Balance Sheets

(millions)

(unaudited)

Preliminary

December 31, 2024

FPL

NEER

Corporate and

Other(a)

NextEra Energy

ASSETS

Current assets:

Cash and cash equivalents

1,200

255

1,487

Customer receivables, net of allowances

1,400

1,934

3,336

Other receivables

380

538

262

1,180

Materials, supplies and fuel inventory

1,309

896

2,214

Regulatory assets

1,405

1,417

Derivatives

754

879

Contract assets

—

252

—

252

Other

226

818

142

1,186

Total current assets

4,783

6,403

765

11,951

Other assets:

Property, plant and equipment – net

76,166

62,526

160

138,852

Special use funds

6,875

2,925

—

9,800

Investment in equity method investees

—

6,118

—

6,118

Prepaid benefit costs

1,954

536

2,496

Regulatory assets

4,464

261

103

4,828

Derivatives

1,602

163

1,774

Goodwill

2,965

1,890

4,866

Other

925

7,667

867

9,459

Total other assets

93,358

82,995

1,840

178,193

TOTAL ASSETS

98,141

89,398

2,605

190,144

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY

Current liabilities:

Commercial paper

1,430

—

240

1,670

Other short-term debt

—

217

—

217

Current portion of long-term debt

1,719

700

5,642

8,061

Accounts payable

996

5,988

(2)

6,982

Customer deposits

669

—

694

Accrued interest and taxes

443

252

321

1,016

Derivatives

966

104

1,073

Accrued construction-related expenditures

860

1,485

2,346

Regulatory liabilities

273

279

Other

1,102

1,393

522

3,017

Total current liabilities

7,495

11,030

6,830

25,355

Other liabilities and deferred credits:

Long-term debt

25,026

14,389

32,970

72,385

Asset retirement obligations

2,276

1,395

—

3,671

Deferred income taxes

9,438

4,206

(1,895)

11,749

Regulatory liabilities

10,465

170

—

10,635

Derivatives

1,813

191

2,008

Other

361

2,506

613

3,480

Total other liabilities and deferred credits

47,570

24,479

31,879

103,928

TOTAL LIABILITIES

55,065

35,509

38,709

129,283

COMMITMENTS AND CONTINGENCIES

REDEEMABLE NONCONTROLLING INTERESTS

—

401

—

401

EQUITY

Common stock

1,373

—

(1,352)

Additional paid-in capital

26,868

16,829

(26,437)

17,260

Retained earnings

14,835

26,414

(8,303)

32,946

Accumulated other comprehensive loss

—

(114)

(12)

(126)

Total common shareholders' equity

43,076

43,129

(36,104)

50,101

Noncontrolling interests

—

10,359

—

10,359

TOTAL EQUITY

43,076

53,488

(36,104)

60,460

TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY

98,141

89,398

2,605

190,144

————————————

(a)

NextEra Energy, Inc.

Condensed Consolidated Balance Sheets

Preliminary

(millions)

(unaudited)

December 31, 2023

FPL

NEER

Corporate and Other(a)

NextEra Energy

ASSETS

Current assets:

Cash and cash equivalents

916

1,717

2,690

Customer receivables, net of allowances

1,706

1,905

(2)

3,609

Other receivables

319

584

944

Materials, supplies and fuel inventory

1,339

763

2,106

Regulatory assets

1,431

1,460

Derivatives

1,671

1,730

Contract Assets

—

1,487

—

1,487

Other

131

1,036

168

1,335

Total current assets

4,996

8,390

1,975

15,361

Other assets:

Property, plant and equipment – net

70,608

55,034

134

125,776

Special use funds

6,050

2,648

—

8,698

Investment in equity method investees

—

6,145

6,156

Prepaid benefit costs

1,853

254

2,112

Regulatory assets

4,343

226

232

4,801

Derivatives

1,766

1,790

Goodwill

2,965

2,114

5,091

Other

640

6,817

247

7,704

Total other assets

86,473

74,755

900

162,128

TOTAL ASSETS

91,469

83,145

2,875

177,489

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY

Current liabilities:

Commercial paper

2,374

—

2,276

4,650

Other short-term debt

255

—

255

Current portion of long-term debt

1,665

1,031

4,205

6,901

Accounts payable

977

7,547

(20)

8,504

Customer deposits

610

—

638

Accrued interest and taxes

661

380

(71)

970

Derivatives

813

845

Accrued construction-related expenditures

486

1,375

—

1,861

Regulatory liabilities

335

340

Other

704

1,908

387

2,999

Total current liabilities

8,076

13,086

6,801

27,963

Other liabilities and deferred credits:

Long-term debt

23,609

10,795

27,001

61,405

Asset retirement obligations

2,143

1,260

—

3,403

Deferred income taxes

8,542

3,776

(2,176)

10,142

Regulatory liabilities

9,893

156

—

10,049

Derivatives

2,224

511

2,741

Other

365

2,100

297

2,762

Total other liabilities and deferred credits

44,558

20,311

25,633

90,502

TOTAL LIABILITIES

52,634

33,397

32,434

118,465

COMMITMENTS AND CONTINGENCIES

REDEEMABLE NONCONTROLLING INTERESTS

—

1,256

—

1,256

EQUITY

Common stock

1,373

—

(1,352)

Additional paid-in capital

23,470

14,154

(20,259)

17,365

Retained earnings

13,992

24,115

(7,872)

30,235

Accumulated other comprehensive loss

—

(77)

(76)

(153)

Total common shareholders' equity

38,835

38,192

(29,559)

47,468

Noncontrolling interests

—

10,300

—

10,300

TOTAL EQUITY

38,835

48,492

(29,559)

57,768

TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY

91,469

83,145

2,875

177,489

————————————

(a)

Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other.

NextEra Energy, Inc.

Condensed Consolidated Statements of Cash Flows

(millions)

(unaudited)

Preliminary

Twelve Months Ended December 31, 2024

FPL

NEER

Corporate and

Other(a)

NextEra Energy

Cash Flows From Operating Activities

Net income (loss)

4,543

1,051

104

5,698

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

Depreciation and amortization

2,827

2,577

5,462

Nuclear fuel and other amortization

172

299

Unrealized losses (gains) on marked to market derivative contracts – net

—

(66)

(426)

(492)

Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds – net

—

(107)

—

(107)

Foreign currency transaction losses (gains)

—

(85)

Deferred income taxes

602

377

329

1,308

Cost recovery clauses and franchise fees

1,016

—

1,016

Equity in losses (earnings) of equity method investees

—

267

(21)

246

Distributions of earnings from equity method investees

—

788

811

Losses (gains) on disposal of businesses, assets and investments - net

(1)

(523)

(515)

Recoverable storm-related costs

(676)

—

(676)

Other – net

(14)

135

Changes in operating assets and liabilities:

Current assets

262

(283)

(361)

(382)

Noncurrent assets

(167)

(63)

(243)

(473)

Current liabilities

(23)

320

470

767

Noncurrent liabilities

(35)

251

248

Net cash provided by (used in) operating activities

8,506

4,527

227

13,260

Cash Flows From Investing Activities

Capital expenditures of FPL

(7,992)

—

(7,992)

Independent power and other investments of NEER

—

(16,215)

—

(16,215)

Nuclear fuel purchases

(222)

(177)

—

(399)

Other capital expenditures

—

(123)

Proceeds from the sale of Florida City Gas business

—

Sale of independent power and other investments of NEER

—

2,659

—

2,659

Proceeds from sale or maturity of securities in special use funds and other investments

3,628

1,526

291

5,445

Purchases of securities in special use funds and other investments

(3,801)

(1,228)

(594)

(5,623)

Other – net

(97)

(16)

Net cash used in investing activities

(8,384)

(13,532)

(348)

(22,264)

Cash Flows From Financing Activities

Issuances of long-term debt, including premiums and discounts

3,205

7,971

13,593

24,769

Retirements of long-term debt

(1,721)

(2,381)

(6,011)

(10,113)

Proceeds from differential membership investors

—

2,257

—

2,257

Payments to differential membership investors

—

(740)

—

(740)

Net change in commercial paper

(944)

—

(2,036)

(2,980)

Proceeds from other short-term debt

—

217

6,358

6,575

Repayments of other short-term debt

(255)

—

(6,358)

(6,613)

Payments from (to) related parties under a cash sweep and credit support agreement – net

—

(1,371)

—

(1,371)

Issuances of common stock/equity units – net

—

(47)

Dividends on common stock

—

(4,235)

Dividends & capital distributions from (to) parent – net

(300)

2,712

(2,412)

—

Other – net

(46)

(263)

(193)

(502)

Net cash provided by (used in) financing activities

(61)

8,402

(1,341)

7,000

Effects of currency translation on cash, cash equivalents and restricted cash

—

(14)

—

(14)

Net increase (decrease) in cash, cash equivalents and restricted cash

(617)

(1,462)

(2,018)

Cash, cash equivalents and restricted cash at beginning of year

1,625

1,723

3,420

Cash, cash equivalents and restricted cash at end of year

133

1,008

261

1,402

————————————

(a)

NextEra Energy, Inc.

Condensed Consolidated Statements of Cash Flows

(millions)

(unaudited)

Preliminary

Twelve Months Ended December 31, 2023

FPL

NEER

Corporate and

Other(a)

NextEra Energy

Cash Flows From Operating Activities

Net income (loss)

4,552

2,530

(800)

6,282

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

Depreciation and amortization

3,789

2,009

5,879

Nuclear fuel and other amortization

158

272

Unrealized losses (gains) on marked to market derivative contracts – net

—

(2,273)

324

(1,949)

Unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds – net

—

(159)

—

(159)

Foreign currency transaction losses (gains)

—

(3)

Deferred income taxes

(161)

1,002

(133)

708

Cost recovery clauses and franchise fees

1,104

—

1,104

Equity in losses (earnings) of equity method investees

—

649

(1)

648

Distributions of earnings from equity method investees

—

712

—

712

Losses (gains) on disposal of businesses, assets and investments - net

(407)

(122)

(1)

(530)

Recoverable storm-related costs

(399)

—

(399)

Other – net

(27)

(38)

Changes in operating assets and liabilities:

Current assets

(200)

411

(153)

Noncurrent assets

(185)

(143)

(80)

(408)

Current liabilities

(1,010)

(159)

(1,109)

Noncurrent liabilities

(109)

163

Net cash provided by (used in) operating activities

8,296

3,539

(534)

11,301

Cash Flows From Investing Activities

Capital expenditures of FPL

(9,302)

—

(9,302)

Independent power and other investments of NEER

—

(15,565)

—

(15,565)

Nuclear fuel purchases

(98)

(87)

—

(185)

Other capital expenditures

—

(61)

Proceeds from the sale of Florida City Gas business

924

—

924

Sale of independent power and other investments of NEER

—

1,883

—

1,883

Proceeds from sale or maturity of securities in special use funds and other investments

3,730

990

155

4,875

Purchases of securities in special use funds and other investments

(3,754)

(1,440)

(732)

(5,926)

Other – net

(15)

(514)

419

(110)

Net cash used in investing activities

(8,515)

(14,733)

(219)

(23,467)

Cash Flows From Financing Activities

Issuances of long-term debt, including premiums and discounts

5,678

3,532

4,647

13,857

Retirements of long-term debt

(1,548)

(618)

(5,812)

(7,978)

Proceeds from differential membership investors

—

2,745

—

2,745

Payments to differential membership investors

—

(75)

—

(75)

Net change in commercial paper

665

—

2,276

2,941

Proceeds from other short-term debt

—

1,925

1,980

Repayments of other short-term debt

—

(38)

(2,575)

(2,613)

Payments from (to) related parties under a cash sweep and credit support agreement – net

—

1,213

—

1,213

Issuances of common stock/equity units – net

—

4,514

Dividends on common stock

—

(3,782)

Dividends & capital distributions from (to) parent – net

(4,545)

3,863

682

—

Other – net

(72)

(332)

(249)

(653)

Net cash provided by (used in) financing activities

233

10,290

1,626

12,149

Effects of currency translation on cash, cash equivalents and restricted cash

—

(4)

—

(4)

Net increase (decrease) in cash, cash equivalents and restricted cash

(908)

873

(21)

Cash, cash equivalents and restricted cash at beginning of year

2,533

850

3,441

Cash, cash equivalents and restricted cash at end of year

1,625

1,723

3,420

————————————

(a)

NextEra Energy, Inc.

Earnings Per Share Contributions

(assuming dilution)

(unaudited)

Preliminary

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

Year-To-Date

2023 Earnings Per Share Attributable to NextEra Energy, Inc.

1.04

1.38

0.60

0.59

3.60

FPL – 2023 Earnings Per Share

0.53

0.57

0.58

0.56

2.24

New investment growth

0.05

0.04

0.17

Change in regulatory ROE

—

(0.06)

Gain on disposal of a business

—

(0.15)

Other and share dilution

(0.01)

0.01

0.02

0.01

FPL – 2024 Earnings Per Share

0.57

0.60

0.63

0.41

2.21

NEER – 2023 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc.

0.72

(0.11)

0.43

1.75

New investments

0.15

0.12

0.15

0.06

0.48

Existing clean energy

(0.02)

0.06

—

(0.01)

0.03

Gas infrastructure

(0.01)

(0.07)

0.01

(0.03)

(0.08)

Customer supply

0.04

(0.03)

(0.10)

0.05

(0.04)

Non-qualifying hedges impact

(0.31)

(0.48)

0.14

(0.25)

(0.86)

Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

0.01

(0.03)

0.07

(0.07)

(0.02)

XPLR Infrastructure, LP investment gains – net

(0.01)

0.01

0.44

(0.37)

0.06

Impairment charges related to investment in Mountain Valley Pipeline

0.01

—

0.02

Other, including interest expense, corporate general and administrative expenses, other investment income and share dilution

(0.11)

(0.04)

(0.01)

(0.02)

(0.22)

NEER – 2024 Earnings (Loss) Per Share Attributable to NextEra Energy, Inc.

0.47

0.27

0.59

(0.21)

1.12

Corporate and Other – 2023 Earnings (Loss) Per Share

(0.21)

0.09

0.13

(0.40)

(0.39)

Non-qualifying hedges impact

0.28

(0.19)

(0.45)

0.81

0.44

Other, including interest expense and share dilution

(0.01)

0.02

—

(0.03)

(0.01)

Corporate and Other – 2024 Earnings (Loss) Per Share

0.06

(0.08)

(0.32)

0.38

0.04

2024 Earnings Per Share Attributable to NextEra Energy, Inc.

1.10

0.79

0.90

0.58

3.37

Corporate and Other represents other business activities and eliminating entries, and may include the net effect of rounding. Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources' subsidiaries. Interest expense is allocated based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resource's subsidiaries. Residual corporate interest expense is included in Corporate and Other.

The sum of the quarterly amounts may not equal the total for the year due to rounding.

Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution):

2014

2021

2024

Earnings Per Share (assuming dilution ) Attributable to NextEra Energy, Inc.

1.40

1.81

3.37

Net losses (gains) associated with non-qualifying hedges

(0.18)

1.04

(0.45)

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI – net

—

(0.14)

(0.05)

Gain associated with Maine fossil

(0.01)

—

Differential membership interests – related

—

0.07

—

XPLR Infrastructure, LP investment gains – net

—

(0.02)

0.55

Operating loss of Spain solar projects

0.02

—

Less related income tax expense (benefit)

0.10

(0.21)

0.01

Adjusted Earnings Per Share

1.33

2.55

3.43

Mentions · how they’re counted

Category	Underlined	Word counter	Model’s count
AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM	0	—	—
Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring	0	—	—
Recession recession, downturn, contraction, slowdown	0	—	—
Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy	1	—	—
Buybacks share repurchase, buyback program	0	—	—

Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.

Source: SEC EDGAR · public domain · Highlights by Palanor