NextEra Energy, Inc.
Earnings Summary by Segment
(millions, except per share amounts) (unaudited)
GAAP RESULTS
For the years ended December 31, | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to NextEra Energy, Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
FPL | $ | 836 | $ | 789 | $ | 831 | $ | 945 | $ | 1,068 | $ | 1,240 | $ | 1,349 | $ | 1,517 | $ | 1,648 | $ | 1,727 | $ | 1,880 | $ | 2,171 | $ | 2,519 | $ | 2,890 | $ | 3,206 | $ | 3,701 | |||||||||||||||||||||||
NEER | 461 | 831 | 759 | 981 | 780 | 706 | 589 | 1,014 | 1,116 | 1,149 | 2,997 | 4,704 | 1,807 | 531 | 599 | 285 | |||||||||||||||||||||||||||||||||||||||
Corporate and Other | 15 | 19 | 25 | 31 | 75 | (35) | (30) | (66) | (12) | 30 | 503 | (237) | (557) | (502) | (232) | 161 | |||||||||||||||||||||||||||||||||||||||
Total Net Income Attributable to NextEra Energy, Inc. | $ | 1,312 | $ | 1,639 | $ | 1,615 | $ | 1,957 | $ | 1,923 | $ | 1,911 | $ | 1,908 | $ | 2,465 | $ | 2,752 | $ | 2,906 | $ | 5,380 | $ | 6,638 | $ | 3,769 | $ | 2,919 | $ | 3,573 | $ | 4,147 | |||||||||||||||||||||||
Weighted-Average Number of Common Shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding - Assuming Dilution | 1,602 | 1,611 | 1,629 | 1,652 | 1,676 | 1,677 | 1,708 | 1,761 | 1,816 | 1,863 | 1,890 | 1,908 | 1,942 | 1,969 | 1,972 | 1,979 | |||||||||||||||||||||||||||||||||||||||
Earnings (Loss) Per Share (assuming dilution) Attributable to NextEra Energy, Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
FPL | $ | 0.52 | $ | 0.49 | $ | 0.51 | $ | 0.57 | $ | 0.64 | $ | 0.74 | $ | 0.79 | $ | 0.86 | $ | 0.91 | $ | 0.93 | $ | 0.99 | $ | 1.14 | $ | 1.30 | $ | 1.47 | $ | 1.63 | $ | 1.87 | |||||||||||||||||||||||
NEER | 0.29 | 0.52 | 0.47 | 0.59 | 0.47 | 0.42 | 0.34 | 0.58 | 0.61 | 0.62 | 1.59 | 2.46 | 0.93 | 0.27 | 0.30 | 0.14 | |||||||||||||||||||||||||||||||||||||||
Corporate and Other | 0.01 | 0.01 | 0.01 | 0.02 | 0.04 | (0.02) | (0.01) | (0.04) | - | 0.01 | 0.27 | (0.13) | (0.29) | (0.26) | (0.12) | 0.09 | |||||||||||||||||||||||||||||||||||||||
Total Earnings Per Share Attributable to NextEra Energy, Inc. | $ | 0.82 | $ | 1.02 | $ | 0.99 | $ | 1.18 | $ | 1.15 | $ | 1.14 | $ | 1.12 | $ | 1.40 | $ | 1.52 | $ | 1.56 | $ | 2.85 | $ | 3.47 | $ | 1.94 | $ | 1.48 | $ | 1.81 | $ | 2.10 | |||||||||||||||||||||||
ADJUSTED RESULTS (1)
For the years ended December 31, | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016(1) | 2017(1) | 2018 | 2019 | 2020 | 2021 | 2022 | |||||||||||||||||||||||||||||||||
Adjusted Earnings (Loss) | |||||||||||||||||||||||||||||||||||||||||||||||||
FPL | $ | 836 | $ | 789 | $ | 831 | $ | 945 | $ | 1,068 | $ | 1,240 | $ | 1,349 | $ | 1,517 | $ | 1,648 | $ | 1,727 | $ | 1,930 | $ | 2,171 | $ | 2,539 | $ | 2,890 | $ | 3,206 | $ | 3,701 | |||||||||||||||||
NEER | 553 | 737 | 792 | 801 | 685 | 712 | 813 | 862 | 950 | 1,115 | 1,261 | 1,498 | 1,695 | 1,953 | 2,206 | 2,441 | |||||||||||||||||||||||||||||||||
Corporate and Other | 15 | 19 | 25 | 32 | 84 | (38) | (44) | (45) | 1 | 36 | (26) | 4 | (172) | (291) | (391) | (400) | |||||||||||||||||||||||||||||||||
Total Adjusted Earnings | 1,404 | 1,545 | 1,648 | 1,778 | 1,837 | 1,914 | 2,118 | 2,334 | 2,599 | 2,878 | 3,165 | 3,673 | 4,062 | 4,552 | 5,021 | 5,742 | |||||||||||||||||||||||||||||||||
Certain items (after-tax) | (92) | 94 | (33) | 179 | 86 | (3) | (210) | 131 | 153 | 28 | 2,215 | 2,965 | (293) | (1,633) | (1,448) | (1,595) | |||||||||||||||||||||||||||||||||
Total Net Income Attributable to NextEra Energy, Inc. | $ | 1,312 | $ | 1,639 | $ | 1,615 | $ | 1,957 | $ | 1,923 | $ | 1,911 | $ | 1,908 | $ | 2,465 | $ | 2,752 | $ | 2,906 | $ | 5,380 | $ | 6,638 | $ | 3,769 | $ | 2,919 | $ | 3,573 | $ | 4,147 | |||||||||||||||||
Weighted-Average Number of Common Shares | |||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding - Assuming Dilution | 1,602 | 1,611 | 1,629 | 1,652 | 1,676 | 1,677 | 1,708 | 1,761 | 1,816 | 1,863 | 1,890 | 1,908 | 1,942 | 1,969 | 1,972 | 1,979 | |||||||||||||||||||||||||||||||||
Adjusted Earnings (Loss) Per Share (assuming dilution) | |||||||||||||||||||||||||||||||||||||||||||||||||
FPL | $ | 0.52 | $ | 0.49 | $ | 0.51 | $ | 0.57 | $ | 0.64 | $ | 0.74 | $ | 0.79 | $ | 0.86 | $ | 0.91 | $ | 0.93 | $ | 1.02 | $ | 1.14 | $ | 1.31 | $ | 1.47 | $ | 1.63 | $ | 1.87 | |||||||||||||||||
NEER | 0.35 | 0.46 | 0.49 | 0.48 | 0.41 | 0.42 | 0.48 | 0.49 | 0.52 | 0.60 | 0.67 | 0.78 | 0.87 | 0.99 | 1.12 | 1.23 | |||||||||||||||||||||||||||||||||
Corporate and Other | 0.01 | 0.01 | 0.01 | 0.03 | 0.05 | (0.02) | (0.03) | (0.02) | - | 0.02 | (0.02) | 0.01 | (0.09) | (0.15) | (0.20) | (0.20) | |||||||||||||||||||||||||||||||||
Total Adjusted Earnings Per Share | 0.88 | 0.96 | 1.01 | 1.08 | 1.10 | 1.14 | 1.24 | 1.33 | 1.43 | 1.55 | 1.67 | 1.93 | 2.09 | 2.31 | 2.55 | 2.90 | |||||||||||||||||||||||||||||||||
Certain items (after-tax) | (0.06) | 0.06 | (0.02) | 0.10 | 0.05 | - | (0.12) | 0.07 | 0.09 | 0.01 | 1.18 | 1.54 | (0.15) | (0.83) | (0.74) | (0.80) | |||||||||||||||||||||||||||||||||
Total Earnings Per Share Attributable to NextEra Energy, Inc. | $ | 0.82 | $ | 1.02 | $ | 0.99 | $ | 1.18 | $ | 1.15 | $ | 1.14 | $ | 1.12 | $ | 1.40 | $ | 1.52 | $ | 1.56 | $ | 2.85 | $ | 3.47 | $ | 1.94 | $ | 1.48 | $ | 1.81 | $ | 2.10 | |||||||||||||||||
- See reconciliations of adjusted earnings and adjusted earnings per share to GAAP amounts below.
NextEra Energy, Inc.
Reconciliation of Net Income Attributable to NextEra Energy, Inc. to Adjusted Earnings
($ millions) | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016(1) | 2017(1) | 2018 | 2019 | 2020 | 2021 | 2022 | |||||||||||||||
Net Income Attributable to NextEra Energy, Inc. | $ 1,312 | $ 1,639 | $ 1,615 | $ 1,957 | $ 1,923 | $ 1,911 | $ 1,908 | $ 2,465 | $ 2,752 | $ 2,906 | $ 5,380 | $ 6,638 | $ 3,769 | $ 2,919 | $ 3,573 | $ 4,147 | |||||||||||||||
Adjustments: | |||||||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying | |||||||||||||||||||||||||||||||
hedges | 144 | (283) | 27 | (286) | (314) | 62 | 112 | (309) | (290) | 108 | 216 | 248 | 546 | 877 | 2,042 | 890 | |||||||||||||||
Change in unrealized losses (gains) on equity | |||||||||||||||||||||||||||||||
securities held in NEER's nuclear decommissioning | |||||||||||||||||||||||||||||||
funds and OTTI - net(2) | 10 | 137 | 20 | (8) | 11 | (53) | (3) | (2) | 21 | 5 | (25) | 180 | (249) | (180) | (276) | 453 | |||||||||||||||
Acquisition-related expenses | 26 | 135 | 93 | 32 | 54 | ||||||||||||||||||||||||||
Loss on sale of natural gas-fired generating assets | 151 | ||||||||||||||||||||||||||||||
Gain from discontinued operations (Hydro) | (372) | ||||||||||||||||||||||||||||||
Loss (gain) associated with Maine fossil | 67 | (21) | |||||||||||||||||||||||||||||
Impairment charges | 300 | 420 | 1,524 | 867 | |||||||||||||||||||||||||||
Resolution of contingencies related to a previous asset | |||||||||||||||||||||||||||||||
sale | (9) | ||||||||||||||||||||||||||||||
Gain on sale of natural gas generation facilities | (445) | ||||||||||||||||||||||||||||||
Gain on disposal of fiber-optic telecommunications | |||||||||||||||||||||||||||||||
business | (1,096) | ||||||||||||||||||||||||||||||
Gain on disposal of Spain solar projects | (273) | ||||||||||||||||||||||||||||||
Tax reform related, including the impact of income tax | |||||||||||||||||||||||||||||||
rate change on differential membership interests (3) | (1,881) | (572) | 120 | 117 | 130 | 116 | |||||||||||||||||||||||||
NEP investment gains - net | (3,786) | (124) | 123 | (42) | (243) | ||||||||||||||||||||||||||
Operating loss (income) of Spain solar projects | 11 | 40 | (5) | 12 | (4) | 1 | (8) | ||||||||||||||||||||||||
Less related income tax expense (benefit) | (62) | 52 | (14) | 115 | 66 | (6) | 95 | 161 | 95 | 166 | 62 | 932 | (46) | (555) | (406) | (488) | |||||||||||||||
Adjusted Earnings | $ 1,404 | $ 1,545 | $ 1,648 | $ 1,778 | $ 1,837 | $ 1,914 | $ 2,118 | $ 2,334 | $ 2,599 | $ 2,878 | $ 3,165 | $ 3,673 | $ 4,062 | $ 4,552 | $ 5,021 | $ 5,742 |
- Amounts have been retrospectively adjusted for accounting standards update related to leases that was adopted in 2018.
- Beginning in 2018, reflects the implementation of an accounting standards update related to financial instruments.
- Net of approximately $40 million of income tax benefit at FPL in 2017.
FPL
Reconciliation of Net Income to Adjusted Earnings
($ millions) | 2017 | 2019(1)(2) | |
Net Income | $ 1,880 | $ 2,519 | |
Adjustments: | |||
Tax reform-related(3) | 50 | ||
Acquisition-related expenses | 27 | ||
Less related income tax expense (benefit) | (7) | ||
Adjusted Earnings | $ 1,930 | $ 2,539 | |
- Amounts have been retrospectively adjusted to reflect the FPL merger that occurred in 2021.
- Amounts have been retrospectively adjusted to reflect a segment change in 2022.
- Net of approximately $40 million of income tax benefit.
There were no adjustments to net income for years not presented.
NEER
Reconciliation of Net Income Attributable to NextEra Energy, Inc. to Adjusted Earnings(1)
($ millions) | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016(2) | 2017(2) | 2018 | 2019 | 2020 | 2021 | 2022 | |||||||||||||||||||||||||||
Net Income Attributable to NextEra Energy, Inc. | $ | 461 | $ | 831 | $ | 759 | $ | 981 | $ | 780 | $ | 706 | $ | 589 | $ | 1,014 | $ | 1,116 | $ 1,149 | $ 2,997 | $ 4,704 | $ 1,807 | $ | 531 | $ | 599 | $ | 285 | |||||||||||||||
Adjustments: | |||||||||||||||||||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying | |||||||||||||||||||||||||||||||||||||||||||
hedges | 144 | (283) | 27 | (287) | (319) | 67 | 114 | (316) | (290) | 336 | 80 | (45) | 89 | 595 | 2,255 | 1,641 | |||||||||||||||||||||||||||
Change in unrealized losses (gains) on equity | |||||||||||||||||||||||||||||||||||||||||||
securities held in NEER's nuclear decommissioning | |||||||||||||||||||||||||||||||||||||||||||
funds and OTTI - net(3) | 10 | 137 | 20 | (8) | 11 | (53) | (3) | (2) | 21 | 5 | (25) | 180 | (249) | (180) | (276) | 453 | |||||||||||||||||||||||||||
Acquisition-related expenses | 6 | 8 | |||||||||||||||||||||||||||||||||||||||||
Loss on sale of natural gas-fired generating assets | 151 | ||||||||||||||||||||||||||||||||||||||||||
Gain from discontinued operations (Hydro) | (372) | ||||||||||||||||||||||||||||||||||||||||||
Loss (gain) associated with Maine fossil | 67 | (21) | |||||||||||||||||||||||||||||||||||||||||
Impairment charges | 300 | 420 | 1,524 | 867 | |||||||||||||||||||||||||||||||||||||||
Resolution of contingencies related to a previous | |||||||||||||||||||||||||||||||||||||||||||
asset sale | (9) | ||||||||||||||||||||||||||||||||||||||||||
Gain on sale of natural gas generation facilities | (445) | ||||||||||||||||||||||||||||||||||||||||||
Gain on disposal of Spain solar projects | (273) | ||||||||||||||||||||||||||||||||||||||||||
Tax reform related, including the impact of income tax | |||||||||||||||||||||||||||||||||||||||||||
rate change on differential membership interests | (1,929) | (560) | 120 | 117 | 130 | 116 | |||||||||||||||||||||||||||||||||||||
NEP investment gains - net | (3,786) | (124) | 123 | (42) | (243) | ||||||||||||||||||||||||||||||||||||||
Operating loss (income) of Spain solar projects | 11 | 40 | (5) | 12 | (4) | 1 | (8) | ||||||||||||||||||||||||||||||||||||
Less related income tax expense (benefit) | (62) | 52 | (14) | 115 | 62 | (8) | 107 | 147 | 108 | 67 | (278) | 998 | 52 | (484) | (460) | (678) | |||||||||||||||||||||||||||
Adjusted Earnings | $ | 553 | $ | 737 | $ | 792 | $ | 801 | $ | 685 | $ | 712 | $ | 813 | $ | 862 | $ | 950 | $ 1,115 | $ 1,261 | $ 1,498 | $ 1,695 | $ | 1,953 | $ | 2,206 | $ | 2,441 |
- NEER's results for 2018 and prior were retrospectively adjusted to reflect a segment change that occurred in 2019.
- Amounts have been retrospectively adjusted for accounting standards update related to leases that was adopted in 2018.
- Beginning in 2018, reflects the implementation of an accounting standards update related to financial instruments.
Corporate and Other
Reconciliation of Net Income to Adjusted Earnings(1)
($ millions) | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016(2) | 2017(2) | 2018 | 2019(3)(4) | 2020(3)(4) | 2021(4) | 2022 | |||||||||||||||||||||||||
Net Income (Loss) | $ | 31 | $ | 75 | $ | (35) | $ | (30) | $ | (66) | $ | (12) | $ | 30 | $ | 503 | $ | (237) | $ | (557) | $ | (502) | $ | (232) | $ | 161 | ||||||||||||
Adjustments: | ||||||||||||||||||||||||||||||||||||||
Net losses (gains) associated with non-qualifying hedges | 1 | 5 | (5) | (2) | 7 | (228) | 136 | 293 | 457 | 282 | (213) | (751) | ||||||||||||||||||||||||||
Acquisition-related expenses | 26 | 135 | 93 | 26 | 19 | |||||||||||||||||||||||||||||||||
Gain on disposal of fiber-optic telecommunications business | (1,096) | |||||||||||||||||||||||||||||||||||||
Tax reform-related | (2) | (12) | ||||||||||||||||||||||||||||||||||||
Less related income tax expense (benefit)(5) | 4 | 2 | (12) | 14 | (13) | 99 | 340 | (66) | (91) | (71) | 54 | 190 | ||||||||||||||||||||||||||
Adjusted Earnings (Loss) | $ | 32 | $ | 84 | $ | (38) | $ | (44) | $ | (45) | $ | 1 | $ | 36 | $ | (26) | $ | 4 | $ | (172) | $ | (291) | $ | (391) | $ | (400) |
- Corporate and Other's results for 2018 and prior were retrospectively adjusted to reflect a segment change that occurred in 2019.
- Amounts have been retrospectively adjusted for accounting standards update related to leases that was adopted in 2018.
- Amounts have been retrospectively adjusted to reflect the FPL merger that occurred in 2021.
- Amounts have been retrospectively adjusted to reflect a segment change in 2022.
- For 2018 and prior, includes consolidating income tax adjustments.
There were no adjustments to net income for years not presented.
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Nexera Energy Inc. published this content on 14 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2023 21:59:27 UTC.