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1、NextEra Energy,Inc.Media Line:561-694-4442April 23,2025FOR IMMEDIATE RELEASENextEra Energy reports first-quarter 2025 financial resultsNextEra Energy delivers strong first-quarter 2025 resultsFPL grows regulatory capital employed by approximately 8.1%year-over-year and continues to keep customer bil

2、ls low while delivering reliable electricityNextEra Energy Resources achieves a strong quarter of new renewables and storage origination,adding approximately 3.2 gigawatts to its backlogJUNO BEACH,Fla.-NextEra Energy,Inc.(NYSE:NEE)today reported 2025 first-quarter net income attributable to NextEra

3、Energy on a GAAP basis of$833 million,or$0.40 per share,compared to$2,268 million,or$1.10 per share,for the first quarter of 2024.On an adjusted basis,NextEra Energys 2025 first-quarter earnings were$2.038 billion,or$0.99 per share,compared to$1.873 billion,or$0.91 per share,in the first quarter of

4、2024.NextEra Energy is off to a strong start for the year,increasing adjusted earnings per share by nearly 9%year-over year the direct result of continued solid financial and operational performance at both our businesses,said John Ketchum,chairman,president and chief executive officer.During the qu

5、arter,FPL continued to deliver on its customer value proposition and filed its four-year rate plan,which is designed to support continued smart,customer-centric investments in Florida that drive high reliability and low bills.Amid strong demand across all sectors of the U.S.economy,NextEra Energy Re

6、sources had a strong origination quarter,adding approximately 3.2 gigawatts of new renewables and storage to its backlog.We believe we are well positioned to continue delivering for our customers and our shareholders and will be disappointed if we are not able to deliver financial results at or near

7、 the top of our adjusted earnings per share expectations ranges in each year through 2027,while maintaining our strong balance sheet and credit ratings.FPLFPL reported first-quarter 2025 net income of$1.316 billion,or$0.64 per share,compared to$1.172 billion,or$0.57 per share,for the prior-year comp

8、arable quarter.FPLs growth in the first quarter of 2025 primarily was driven by continued investment in the business.FPLs capital expenditures were approximately$2.4 billion for the quarter,and full-year capital investments are expected to be between$8 billion and$8.8 billion.Regulatory capital empl

9、oyed increased by approximately 8.1%over the same quarter last year.FPL continues to focus on running the business efficiently and delivering on its strong customer value proposition,which is anchored in making smart capital investments for the benefit of customers,being an industry leader in costs,

10、and delivering high reliability and outstanding customer service while keeping bills low.During the first quarter,FPL placed into service 894 megawatts of new,cost-effective solar,putting FPLs owned and operated solar portfolio at over 7.9 gigawatts(GW),which is the largest utility-owned solar portf

11、olio in the country.In February,FPL submitted a comprehensive four-year request to the Florida Public Service Commission(PSC)to set new rates once its current base rate agreement concludes at the end of this year.The proposal,covering 2026 through 2029,would enable FPL to continue to deliver some of

12、 the nations most reliable electricity,provide excellent customer service and diversify its generation resources.Consistent with the test year letter filed last December,FPL is requesting a base rate adjustment of approximately$1.545 billion starting in January 2026,$927 million in January 2027 and

13、a Solar&Battery Base Rate Adjustment mechanism to recover revenue requirements for solar and battery storage projects in 2028 and 2029.With the proposed base rate adjustments and current projections for fuel and other costs,FPL believes its typical residential customer bill would grow at an average

14、1annual rate of about 2.5%from January 2025 through the end of 2029,which is expected to result in its typical residential bill being approximately 25%below the projected national average and more than 20%lower than its typical bills 20 years ago when adjusted for inflation.In April,FPL filed its Te

15、n-Year Site Plan with the Florida PSC.The 2025 plan projects the need for over 17 GW of cost-effective solar generation across the service territory over the next 10 years and the deployment of over 7.6 GW of battery storage.With this plan,FPL expects to increase solar from approximately 9%of its to

16、tal generation in 2024 to approximately 35%in 2034.NextEra Energy Resources NextEra Energy Resources reported first-quarter 2025 net income attributable to NextEra Energy on a GAAP basis of$172 million,or$0.08 per share,compared to net income attributable to NextEra Energy of$966 million,or$0.47 per

17、 share,in the prior-year quarter.On an adjusted basis,NextEra Energy Resources earnings for the first quarter of 2025 were$908 million,or$0.44 per share,compared to$828 million,or$0.40 per share,for the first quarter of 2024.NextEra Energy Resources had a strong quarter for new renewables and storag

18、e origination,adding approximately 3.2 GW to its backlog.With these additions,NextEra Energy Resources backlog now totals roughly 28 GW after taking into account 0.7 GW of new projects placed into service since the fourth-quarter and full-year 2024 financial results call in January.Corporate and Oth

19、erIn the first quarter of 2025 on a GAAP basis,Corporate and Other results decreased$0.38 per share,compared to the prior-year quarter.On an adjusted basis,Corporate and Other results for the first quarter of 2025 decreased$0.03 per share,compared to the prior-year quarter.OutlookNextEra Energys lon

20、g-term financial expectations remain unchanged.For 2025,NextEra Energy continues to expect adjusted earnings per share to be in the range of$3.45 to$3.70.For 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.NextEra Ene

21、rgy 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 informationAs previously announced,NextEra Energys first-quarter 2025 financial results conference call is scheduled for 9 a.m.ET today.The listen-only web

22、cast will be available on NextEra Energys website by accessing the following link:www.NextEraE news release and slides accompanying the presentation may be downloaded at www.NextEraE 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

23、,Inc.NextEra Energy,Inc.(NYSE:NEE)is one of the largest electric power and energy infrastructure companies in North America and is a leading provider of electricity to American homes and businesses.Headquartered in Juno Beach,Florida,NextEra Energy is a Fortune 200 company that owns Florida Power&Li

24、ght Company,Americas largest electric utility,which provides reliable electricity to approximately 12 million people across Florida.NextEra Energy also owns one of the largest energy infrastructure development companies in the U.S.,NextEra Energy Resources,LLC.NextEra Energy and its affiliated entit

25、ies are meeting Americas growing energy needs with a diverse mix of energy sources,including natural gas,nuclear,renewable energy and battery storage.For more information about NextEra Energy companies,visit these websites:www.NextEraE,www.FPL.com,www.NextEraEnergyR.#Adjusted earnings for the period

26、s 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

27、 impairments(OTTI).NextEra Energys 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 companys employe

28、e incentive compensation plans.NextEra Energy also uses earnings expressed in 2this fashion when communicating its financial results and earnings outlook to analysts and investors.NextEra Energys management believes that adjusted earnings provide a more meaningful representation of NextEra Energys f

29、undamental 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

30、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 unrea

31、sonable 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,LLCs nuclear decommissioning funds and ot

32、her 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;

33、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;no adverse litigation decisions;and no changes to go

34、vernmental 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 F

35、uture ResultsThis 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 Ener

36、gy,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 Energys and FPLs control.Forward-looking statements in this news release include,among others,statements

37、 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,”“potent

38、ial,”“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 an

39、d 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 lim

40、ited to,those discussed in this news release and the following:effects of extensive regulation of NextEra Energys and FPLs 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 invest

41、ed 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 incenti

42、ves or policies that support clean energy projects of NextEra Energy and FPL and its affiliated entities or the imposition of additional tax laws,tariffs,duties,policies or other costs or assessments on clean energy or equipment necessary to generate,store or deliver it;impact of new or revised laws

43、,regulations,executive orders,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;e

44、ffects 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 resu

45、lt of extensive federal,state and local government 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 F

46、PL 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,storage,transmis

47、sion and distribution facilities,natural gas and oil production and transportation 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,permi

48、tting,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,natural gas and oil production and transportation facilities,

49、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

50、could result from terrorism,cyberattacks or other attempts to disrupt NextEra Energys and FPLs 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 pro

51、vide protection against all significant losses;a prolonged period of low natural gas and oil prices,disrupted production or unsuccessful drilling efforts could impact NextEra Energy Resources,LLCs(NextEra Energy Resources)natural gas and oil production operations and cause NextEra Energy Resources t

52、o delay or cancel certain natural gas and oil production projects and could result in certain assets 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 requirem

53、ents services;inability or failure to manage properly or hedge effectively the 3commodity risk within its portfolio;effect of reductions in the liquidity of energy markets on NextEra Energys ability to manage operational risks;effectiveness of NextEra Energys and FPLs risk management tools associate

54、d 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 operations on sale and delivery of power or natural g

55、as 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

56、 collateral under derivative contracts;failure or breach of NextEra Energys or FPLs information technology systems;risks to NextEra Energy and FPLs retail businesses from compromise of sensitive customer data;losses from volatility in the market values of derivative instruments and limited liquidity

57、 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 Energys ability to successfully i

58、dentify,complete and integrate acquisitions,including the effect of increased competition for acquisitions;environmental,health and financial risks associated with NextEra Energy Resources and FPLs ownership and operation of nuclear generation facilities;liability of NextEra Energy and FPL for signi

59、ficant 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 re

60、gulations of the Nuclear Regulatory Commission;inability to operate any of NextEra Energy Resources or FPLs 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 ma

61、rkets or actions by third parties in connection with project-specific or other financing arrangements on NextEra Energys and FPLs ability to fund their liquidity and capital needs and meet their growth objectives;defaults or noncompliance related to project-specific,limited-recourse financing agreem

62、ents;inability of NextEra Energy,FPL and NextEra Energy Capital Holdings,Inc.to maintain their current credit ratings;impairment of NextEra Energys and FPLs liquidity from inability of credit providers to fund their credit commitments or to maintain their current credit ratings;poor market performan

63、ce and other economic factors that could affect NextEra Energys defined benefit pension plans funded status;poor market performance and other risks to the asset values of NextEra Energys and FPLs nuclear decommissioning funds;changes in market value and other risks to certain of NextEra Energys asse

64、ts and investments;effect of inability of NextEra Energy subsidiaries to pay upstream dividends or repay funds to NextEra Energy or of NextEra Energys performance under guarantees of subsidiary obligations on NextEra Energys ability to meet its financial obligations and to pay dividends on its commo

65、n stock;the fact that the amount and timing of dividends payable on NextEra Energys common stock,as well as the dividend policy approved by NextEra Energys board of directors from time to time,and changes to that policy,are within the sole discretion of NextEra Energys board of directors and,if decl

66、ared and paid,dividends may be in amounts that are less than might be expected by shareholders;XPLR Infrastructure,LPs 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 Energys lim

67、ited partner interest in XPLR Operating Partners,LP;effects of disruptions,uncertainty or volatility in the credit and capital markets on the market price of NextEra Energys common stock;and the ultimate severity and duration of public health crises,epidemics and pandemics,and its effects on NextEra

68、 Energys or FPLs 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 31,2024 and other Securities and Exchange Commission(SEC)filings,and this news release should be read in conjunction with such SEC filing

69、s.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.4NextEra Energy,Inc.Condensed Consolidated Statements of Income(millions,except per share amounts)(

70、unaudited)PreliminaryThree Months Ended March 31,2025FPLNEERCorporate andOther(a)NextEra EnergyOperating Revenues$3,997$2,163$87$6,247 Operating ExpensesFuel,purchased power and interchange 936 229 1,165 Other operations and maintenance 379 659 135 1,173 Depreciation and amortization 408 671 16 1,09

71、5 Taxes other than income taxes and other net 475 119 594 Total operating expenses net 2,198 1,678 151 4,027 Gains(Losses)on Disposal of Businesses/Assets Net 40 (4)36 Operating Income(Loss)1,799 525 (68)2,256 Other Income(Deductions)Interest expense(317)(548)(909)(1,774)Equity in earnings(losses)of

72、 equity method investees (646)(646)Allowance for equity funds used during construction 37 1 38 Gains(losses)on disposal of investments and other property net (2)(2)Change in unrealized gains(losses)on equity securities held in NEERs nuclear decommissioningfunds net (68)(68)Other net periodic benefit

73、 income 67 67 Other net 12 26 34 72 Total other income(deductions)net(268)(1,237)(808)(2,313)Income(Loss)before Income Taxes 1,531 (712)(876)(57)Income Tax Expense(Benefit)215 (515)(221)(521)Net Income(Loss)1,316 (197)(655)464 Net Loss Attributable to Noncontrolling Interests 369 369 Net Income(Loss

74、)Attributable to NextEra Energy,Inc.$1,316$172$(655)$833 Reconciliations of Net Income(Loss)Attributable to NextEra Energy,Inc.to Adjusted Earnings(Loss):Net Income(Loss)Attributable to NextEra Energy,Inc.$1,316$172$(655)$833 Adjustments Pretax:(b)Net losses(gains)associated with non-qualifying hedg

75、es 62 626 688 Change in unrealized losses(gains)on equity securities held in NEERs nuclear decommissioningfunds and OTTI net 68 68 XPLR Infrastructure,LP investment gains net 855 855 Less related income tax expense(benefit)(c)(249)(157)(406)Adjusted Earnings(Loss)$1,316$908$(186)$2,038 Earnings(Loss

76、)Per Share Attributable to NextEra Energy,Inc.(assuming dilution)$0.64$0.08$(0.32)$0.40 Adjustments Pretax:(b)Net losses(gains)associated with non-qualifying hedges 0.03 0.30 0.33 Change in unrealized losses(gains)on equity securities held in NEERs nuclear decommissioningfunds and OTTI net 0.03 0.03

77、 XPLR Infrastructure,LP investment gains net 0.42 0.42 Less related income tax expense(benefit)(c)(0.12)(0.07)(0.19)Adjusted Earnings(Loss)Per Share$0.64$0.44$(0.09)$0.99 Weighted-average shares outstanding(assuming dilution)2,061(a)Corporate and Other represents other business activities and elimin

78、ating entries,and may include the net effect of rounding.Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources.Interest expense is allocated based on a deemed capital structure of 70%debt and differential membership interests sold by NextEra Energy Resourc

79、es subsidiaries.Residual corporate interest expense is included in Corporate and Other.(b)After tax impact is as follows:NEERCorporate and OtherNextEra EnergyAdjusted EarningsAdjustedEPSAdjusted EarningsAdjustedEPSAdjusted EarningsAdjustedEPSNet losses(gains)associated with non-qualifying hedges$45$

80、0.03$469$0.23$514$0.26 Change in unrealized losses(gains)on equity securities held in NEERs nuclear decommissioning funds and OTTI net$49$0.02$49$0.02 XPLR Infrastructure,LP investment gains net$642$0.31$642$0.31(c)Includes the effects of rounding.5NextEra Energy,Inc.Condensed Consolidated Statement

81、s of Income(millions,except per share amounts)(unaudited)PreliminaryThree Months Ended March 31,2024FPLNEERCorporate andOther(a)NextEra EnergyOperating Revenues$3,834$1,864$33$5,731 Operating ExpensesFuel,purchased power and interchange 1,034 196 (24)1,206 Other operations and maintenance 361 692 70

82、 1,123 Depreciation and amortization 303 579 16 898 Taxes other than income taxes and other net 460 89 549 Total operating expenses net 2,158 1,556 62 3,776 Gains(Losses)on Disposal of Businesses/Assets Net 63 (5)58 Operating Income(Loss)1,676 371 (34)2,013 Other Income(Deductions)Interest expense(2

83、79)(173)129 (323)Equity in earnings(losses)of equity method investees 183 20 203 Allowance for equity funds used during construction 53 3 56 Gains(losses)on disposal of investments and other property net 15 15 Change in unrealized gains(losses)on equity securities held in NEERs nuclear decommissioni

84、ngfunds net 128 128 Other net periodic benefit income 38 38 Other net 1 11 22 34 Total other income(deductions)net(225)167 209 151 Income(Loss)before Income Taxes 1,451 538 175 2,164 Income Tax Expense(Benefit)279 (97)45 227 Net Income(Loss)1,172 635 130 1,937 Net Loss Attributable to Noncontrolling

85、 Interests 331 331 Net Income(Loss)Attributable to NextEra Energy,Inc.$1,172$966$130$2,268 Reconciliations of Net Income(Loss)Attributable to NextEra Energy,Inc.to Adjusted Earnings(Loss):Net Income(Loss)Attributable to NextEra Energy,Inc.$1,172$966$130$2,268 Adjustments Pretax:(b)Net losses(gains)a

86、ssociated with non-qualifying hedges (101)(343)(444)Change in unrealized losses(gains)on equity securities held in NEERs nuclear decommissioningfunds and OTTI net (129)(129)Differential membership interests related 6 6 XPLR Infrastructure,LP investment gains net 31 31 Less related income tax expense

87、(benefit)(c)55 86 141 Adjusted Earnings(Loss)$1,172$828$(127)$1,873 Earnings(Loss)Per Share Attributable to NextEra Energy,Inc.(assuming dilution)$0.57$0.47$0.06$1.10 Adjustments Pretax:(b)Net losses(gains)associated with non-qualifying hedges (0.05)(0.17)(0.22)Change in unrealized losses(gains)on e

88、quity securities held in NEERs nuclear decommissioningfunds and OTTI net (0.06)(0.06)Differential membership interests related XPLR Infrastructure,LP investment gains net 0.02 0.02 Less related income tax expense(benefit)(c)0.02 0.05 0.07 Adjusted Earnings(Loss)Per Share$0.57$0.40$(0.06)$0.91 Weight

89、ed-average shares outstanding(assuming dilution)2,055(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.Interest expense is al

90、located 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 is as follows:NEERCorporate and OtherNextEra EnergyAdjusted EarningsAd

91、justedEPSAdjusted EarningsAdjustedEPSAdjusted EarningsAdjustedEPSNet losses(gains)associated with non-qualifying hedges$(74)$(0.04)$(257)$(0.12)$(331)$(0.16)Change in unrealized losses(gains)on equity securities held in NEERs nuclear decommissioning funds and OTTI net$(92)$(0.04)$(92)$(0.04)Differen

92、tial membership interests related$5$5$XPLR Infrastructure,LP investment gains net$23$0.01$23$0.01(c)Includes the effects of rounding.6NextEra Energy,Inc.Condensed Consolidated Balance Sheets(millions)(unaudited)PreliminaryMarch 31,2025FPLNEERCorporate andOther(a)NextEra EnergyASSETSCurrent assets:Ca

93、sh and cash equivalents$512$1,468$439$2,419 Customer receivables,net of allowances 1,349 1,803 1 3,153 Other receivables 348 932 156 1,436 Materials,supplies and fuel inventory 1,327 991 8 2,326 Regulatory assets 1,100 16 1,116 Derivatives 53 912 6 971 Other 164 903 160 1,227 Total current assets 4,

94、853 7,025 770 12,648 Other assets:Property,plant and equipment net 77,427 64,633 163 142,223 Special use funds 6,748 2,877 9,625 Investment in equity method investees 5,270 5,270 Prepaid benefit costs 1,983 5 560 2,548 Regulatory assets 5,079 253 102 5,434 Derivatives 15 1,671 24 1,710 Goodwill 2,96

95、5 1,890 11 4,866 Other 994 8,007 939 9,940 Total other assets 95,211 84,606 1,799 181,616 TOTAL ASSETS$100,064$91,631$2,569$194,264 LIABILITIES,REDEEMABLE NONCONTROLLING INTERESTS AND EQUITYCurrent liabilities:Commercial paper$450$1,555$2,005 Other short-term debt 217 217 Current portion of long-ter

96、m debt 1,840 1,064 4,738 7,642 Accounts payable 1,005 3,826 (78)4,753 Customer deposits 673 24 697 Accrued interest and taxes 866 218 217 1,301 Derivatives 13 1,327 319 1,659 Accrued construction-related expenditures 645 1,272 1,917 Regulatory liabilities 312 5 317 Other 729 1,132 492 2,353 Total cu

97、rrent liabilities 6,533 9,085 7,243 22,861 Other liabilities and deferred credits:Long-term debt 26,858 14,137 38,819 79,814 Asset retirement obligations 2,295 1,413 3,708 Deferred income taxes 9,649 3,919 (2,127)11,441 Regulatory liabilities 10,080 171 10,251 Derivatives 1,698 493 2,191 Other 357 2

98、,543 732 3,632 Total other liabilities and deferred credits 49,239 23,881 37,917 111,037 TOTAL LIABILITIES 55,772 32,966 45,160 133,898 COMMITMENTS AND CONTINGENCIESREDEEMABLE NONCONTROLLING INTERESTS 61 61 EQUITYCommon stock 1,373 (1,352)21 Additional paid-in capital 26,868 21,634 (31,210)17,292 Re

99、tained earnings 16,051 26,586 (10,024)32,613 Accumulated other comprehensive loss (109)(5)(114)Total common shareholders equity 44,292 48,111 (42,591)49,812 Noncontrolling interests 10,493 10,493 TOTAL EQUITY 44,292 58,604 (42,591)60,305 TOTAL LIABILITIES,REDEEMABLE NONCONTROLLING INTERESTS AND EQUI

100、TY$100,064$91,631$2,569$194,264(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.Interest expense is allocated based on a dee

101、med 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.7NextEra Energy,Inc.Condensed Consolidated Balance SheetsPreliminary(millions)(unaudited)December 31,2024FPLNEER

102、Corporate and Other(a)NextEra EnergyASSETSCurrent assets:Cash and cash equivalents$32$1,200$255$1,487 Customer receivables,net of allowances 1,400 1,934 2 3,336 Other receivables 380 538 262 1,180 Materials,supplies and fuel inventory 1,309 896 9 2,214 Regulatory assets 1,405 11 1 1,417 Derivatives

103、31 754 94 879 Other 226 1,070 142 1,438 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 6 536 2,496 Regulatory assets

104、4,464 261 103 4,828 Derivatives 9 1,602 163 1,774 Goodwill 2,965 1,890 11 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 EQUITYCurrent liabilities:Commercial paper$1,430$240$1

105、,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 25 694 Accrued interest and taxes 443 252 321 1,016 Derivatives 3 966 104 1,073 Accrued construction-related expenditures 860 1,485 1 2,346 Regulatory

106、liabilities 273 4 2 279 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 liabilit

107、ies 10,465 170 10,635 Derivatives 4 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 CONTINGENCIESREDEEMABLE NONCONTROLLING INTERESTS 401 401 EQUITYCommon stock 1,373 (1,

108、352)21 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)60,4

109、60 TOTAL LIABILITIES,REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY$98,141$89,398$2,605$190,144(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 NextE

110、ra Energy Resources.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.8NextEra Energy,Inc.Condensed Consolidated State

111、ments of Cash Flows(millions)(unaudited)PreliminaryThree Months Ended March 31,2025FPLNEERCorporate andOther(a)NextEra EnergyCash Flows From Operating ActivitiesNet income(loss)$1,316$(197)$(655)$464 Adjustments to reconcile net income(loss)to net cash provided by(used in)operating activities:Deprec

112、iation and amortization 408 671 16 1,095 Nuclear fuel and other amortization 35 37 9 81 Unrealized losses(gains)on marked to market derivative contracts net 218 746 964 Foreign currency transaction losses(gains)8 8 Deferred income taxes 135 (303)(232)(400)Cost recovery clauses and franchise fees(133

113、)(133)Equity in losses(earnings)of equity method investees 646 646 Distributions of earnings from equity method investees 123 123 Losses(gains)on disposal of businesses,assets and investments-net (38)4 (34)Recoverable storm-related costs(177)(177)Other net 4 79 39 122 Changes in operating assets and

114、 liabilities:Current assets 23 47 152 222 Noncurrent assets(59)17 (19)(61)Current liabilities 363 (416)(206)(259)Noncurrent liabilities(6)5 109 108 Net cash provided by(used in)operating activities 1,909 889 (29)2,769 Cash Flows From Investing ActivitiesCapital expenditures of FPL(2,341)(2,341)Indep

115、endent power and other investments of NEER (5,441)(5,441)Nuclear fuel purchases(51)(102)(153)Other capital expenditures (7)(7)Sale of independent power and other investments of NEER 238 238 Proceeds from sale or maturity of securities in special use funds and other investments 751 394 112 1,257 Purc

116、hases of securities in special use funds and other investments(792)(331)(169)(1,292)Other net 80 8 (73)15 Net cash used in investing activities(2,353)(5,234)(137)(7,724)Cash Flows From Financing ActivitiesIssuances of long-term debt,including premiums and discounts 1,996 350 7,494 9,840 Retirements

117、of long-term debt(22)(325)(2,505)(2,852)Net change in commercial paper(980)1,315 335 Proceeds from other short-term debt 850 850 Repayments of other short-term debt (850)(850)Cash swept from(repayments to)related parties net (45)(45)Issuances of common stock/equity units 11 11 Dividends on common st

118、ock (1,166)(1,166)Dividends&capital distributions from(to)parent net(100)4,812 (4,712)Other net(31)97 (86)(20)Net cash provided by(used in)financing activities 863 4,889 351 6,103 Effects of currency translation on cash,cash equivalents and restricted cash Net increase(decrease)in cash,cash equivale

119、nts and restricted cash 419 544 185 1,148 Cash,cash equivalents and restricted cash at beginning of year 133 1,008 261 1,402 Cash,cash equivalents and restricted cash at end of year$552$1,552$446$2,550(a)Corporate and Other represents other business activities and eliminating entries,and may include

120、 the net effect of rounding.Corporate and Other allocates a portion of corporate interest expense to NextEra Energy Resources.Interest expense is allocated based on a deemed capital structure of 70%debt and differential membership interests sold by NextEra Energy Resources subsidiaries.Residual corp

121、orate interest expense is included in Corporate and Other.9NextEra Energy,Inc.Condensed Consolidated Statements of Cash Flows(millions)(unaudited)PreliminaryThree Months Ended March 31,2024FPLNEERCorporate andOther(a)NextEra EnergyCash Flows From Operating ActivitiesNet income(loss)$1,172$635$130$1,

122、937 Adjustments to reconcile net income(loss)to net cash provided by(used in)operating activities:Depreciation and amortization 303 579 16 898 Nuclear fuel and other amortization 44 37 9 90 Unrealized losses(gains)on marked to market derivative contracts net (162)(189)(351)Foreign currency transacti

123、on losses(gains)(26)(26)Deferred income taxes 175 96 127 398 Cost recovery clauses and franchise fees 308 308 Equity in losses(earnings)of equity method investees (183)(20)(203)Distributions of earnings from equity method investees 148 22 170 Losses(gains)on disposal of businesses,assets and investm

124、ents-net (78)5 (73)Recoverable storm-related costs(31)(31)Other net(18)(69)25 (62)Changes in operating assets and liabilities:Current assets 183 183 (36)330 Noncurrent assets(20)51 (33)(2)Current liabilities 145 (364)(134)(353)Noncurrent liabilities 4 1 42 47 Net cash provided by(used in)operating a

125、ctivities 2,265 874 (62)3,077 Cash Flows From Investing ActivitiesCapital expenditures of FPL(2,237)(2,237)Independent power and other investments of NEER (7,243)(7,243)Nuclear fuel purchases(108)(32)(140)Other capital expenditures (91)(91)Sale of independent power and other investments of NEER 565

126、565 Proceeds from sale or maturity of securities in special use funds and other investments 690 182 79 951 Purchases of securities in special use funds and other investments(729)(240)(109)(1,078)Other net(9)(66)27 (48)Net cash used in investing activities(2,393)(6,834)(94)(9,321)Cash Flows From Fina

127、ncing ActivitiesIssuances of long-term debt,including premiums and discounts 7,811 7,811 Retirements of long-term debt(1,220)(1,273)(1,501)(3,994)Net change in commercial paper(2,024)1,716 (308)Proceeds from other short-term debt 3,408 3,408 Repayments of other short-term debt(55)(100)(155)Cash swep

128、t from(repayments to)related parties net (68)(68)Issuances of common stock/equity units 6 6 Dividends on common stock (1,058)(1,058)Dividends&capital distributions from(to)parent net 3,400 7,817 (11,217)Other net(8)(494)(102)(604)Net cash provided by(used in)financing activities 93 5,982 (1,037)5,03

129、8 Effects of currency translation on cash,cash equivalents and restricted cash (1)(1)Net increase(decrease)in cash,cash equivalents and restricted cash(35)21 (1,193)(1,207)Cash,cash equivalents and restricted cash at beginning of year 72 1,625 1,723 3,420 Cash,cash equivalents and restricted cash at

130、 end of year$37$1,646$530$2,213(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.Interest expense is allocated based on a dee

131、med 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.10NextEra Energy,Inc.Earnings Per Share Contributions(assuming dilution)(unaudited)PreliminaryFirstQuarter2024 E

132、arnings Per Share Attributable to NextEra Energy,Inc.$1.10 FPL 2024 Earnings Per Share$0.57 New investment growth 0.04 Other and share dilution 0.03 FPL 2025 Earnings Per Share$0.64 NEER 2024 Earnings Per Share Attributable to NextEra Energy,Inc.$0.47 New investments 0.12 Existing clean energy(0.03)

133、NextEra Energy Transmission 0.01 Customer supply(0.01)Non-qualifying hedges impact(0.07)Change in unrealized gains(losses)on equity securities held in NEERs nuclear decommissioning funds and OTTI net(0.06)XPLR Infrastructure,LP investment gains net(0.30)Other,including interest expense,corporate gen

134、eral and administrative expenses,other investment income and share dilution(0.05)NEER 2025 Earnings Per Share Attributable to NextEra Energy,Inc.$0.08 Corporate and Other 2024 Earnings Per Share$0.06 Non-qualifying hedges impact(0.35)Other,including interest expense and share dilution(0.03)Corporate

135、 and Other 2025 Loss Per Share$(0.32)2025 Earnings Per Share Attributable to NextEra Energy,Inc.$0.40 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.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.11