Exhibit 99

nexteraenergy.jpg
 
 
NextEra Energy, Inc.
Media Line: 561-694-4442
Oct. 23, 2018

FOR IMMEDIATE RELEASE

NextEra Energy reports third-quarter 2018 financial results
NextEra Energy delivers strong third-quarter financial and operational results
Florida Power & Light Company's continued investments in the business to further advance its customer value proposition result in approximately 13 percent growth in regulatory capital employed
NextEra Energy Resources executes its most successful quarter ever for renewables origination, adding nearly 2,100 megawatts to backlog

JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported 2018 third-quarter net income attributable to NextEra Energy on a GAAP basis of $1.007 billion, or $2.10 per share, compared to $847 million, or $1.79 per share, for the third quarter of 2017. On an adjusted basis, NextEra Energy's 2018 third-quarter earnings were $1.039 billion, or $2.18 per share, compared to $875 million, or $1.85 per share, in the third quarter of 2017.

Adjusted earnings for these periods exclude the transitional impacts of tax reform, the effects of non-qualifying hedges, NextEra Energy Partners, LP net investment gains, change in unrealized gains and losses on equity securities held in NextEra Energy Resources' nuclear decommissioning funds and other than temporary impairments (OTTI), operating results from the Spain solar projects and merger-related expenses.

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.

"NextEra Energy delivered strong third-quarter results and remains well-positioned to meet our 2018 expectations and long-term growth prospects," said Jim Robo, chairman and chief executive officer of NextEra Energy. "We grew adjusted earnings per share by approximately 18 percent against the prior-year comparable quarter, reflecting excellent execution at FPL and NextEra Energy Resources. FPL's major capital initiatives remain on track, while, at the same time, we remain laser-focused on delivering low bills, high reliability, clean energy and outstanding service to our customers. The NextEra Energy Resources development team marked the most successful quarter of renewables origination in our history, adding nearly 2,100 megawatts of renewables projects to its backlog, including approximately

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650 megawatts of additional wind repowering and 120 megawatts of battery storage projects. Early in the quarter, we completed the acquisition of Florida City Gas, and our proposed acquisitions of Gulf Power and the ownership interests in two Florida natural gas plants are progressing well. Subject to obtaining FERC approval and satisfaction of customary closing conditions, we continue to expect the Gulf Power transaction to close in the first half of 2019. Overall, NextEra Energy is as well-positioned as ever to drive long-term shareholder value over the coming years.

"Finally, this year's hurricane season has produced dangerous and deadly storms with widespread destruction throughout the Southeast," said Robo. "We continue to keep all those affected by Hurricanes Florence and Michael in our thoughts as they rebuild their lives and communities. We are grateful for the support that others have given us over the years and are fortunate to be in a position to be able to assist other electric providers this year, sending several thousand employees and contractors to support the restoration alongside our neighboring electric providers."

Florida Power & Light Company
NextEra Energy's principal rate-regulated electric utility subsidiary, Florida Power & Light Company (FPL), reported third-quarter 2018 net income of $654 million, or $1.37 per share, compared to $566 million, or $1.19 per share, for the prior-year quarter.

FPL's growth over the prior-year comparable quarter was primarily driven by continued investment in the business. For the third quarter of 2018, regulatory capital employed grew by approximately 13 percent year-over-year. During the third quarter, FPL's average number of customers increased by approximately 58,000, or 1.2 percent, from the prior-year comparable period.

FPL continues to successfully execute on its major capital initiatives, including the construction of four 74.5-megawatt (MW) solar energy centers. The solar energy centers, which remain on schedule and on budget, are projected to generate more than $40 million in total savings for FPL customers. These projects are a continuation of one of the largest solar expansions ever in the U.S. and are part of FPL's plans for a significant increase in new solar projects across Florida over the coming years. Furthermore, FPL has secured potential sites that could support more than 6 gigawatts of its continued solar growth.

Construction of the approximately 1,750-MW FPL Okeechobee Clean Energy Center remains on schedule and on budget. The state-of-the-art, natural-gas-fueled plant is expected to begin operation in mid-2019. Additionally, the approximately 1,200-MW FPL Dania Beach Clean Energy Center continues to advance through the development process to support its projected commercial operation date in 2022.

Hurricanes Florence and Michael brought widespread destruction to residents across the southeastern U.S. FPL assisted other utilities by sending several thousand employees and contractors to support restoration efforts. In addition, FPL was able to quickly restore service to its approximately 70,000 customers who were affected by Hurricane Michael as the hardening and automation investments FPL has made since 2006 to build a stronger, smarter and more storm-resilient energy grid continue to benefit customers.

NextEra Energy Resources
NextEra Energy Resources, the competitive energy business of NextEra Energy, reported a third-quarter 2018 contribution to net income attributable to NextEra Energy on a GAAP basis of $214 million, or $0.44 per share, compared to $292 million, or $0.62 per share, in the prior-year quarter. On an adjusted basis, NextEra Energy Resources' earnings for the third quarter of 2018 were $348 million, or $0.73 per share, compared to $292 million, or $0.62 per share, for the third quarter of 2017.

NextEra Energy Resources' contribution to third-quarter 2018 adjusted earnings per share increased $0.11, compared to the prior-year quarter.


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The NextEra Energy Resources team delivered a record quarter of wind and solar origination. Over the past few months, the team added nearly 2,100 MW of renewables projects to its backlog, including 850 MW of new wind projects, 447 MW of new solar projects, 120 MW of new battery storage projects and approximately 650 MW of wind repowering projects. The company also signed its first transaction in which a customer is combining wind energy with the largest combined solar energy and battery storage facility announced in the U.S. to date, to best match its load profile at the lowest cost. NextEra Energy Resources also successfully commissioned an approximately 200 MW repowering project.

Corporate and Other
In the third quarter of 2018 on a GAAP basis, Corporate and Other earnings increased $0.31 per share, compared to the prior-year quarter. On an adjusted basis, Corporate and Other earnings for the third quarter of 2018 increased $0.04 per share, compared to the prior-year quarter.

Outlook
NextEra Energy continues to expect adjusted earnings per share to be in the range of $7.45 to $7.95 for 2018 and is targeting the midpoint of $7.70 per share. Upon closing of all of the previously announced asset acquisitions from Southern Company (Gulf Power, Florida City Gas and the ownership interests in the two natural gas plants), NextEra Energy continues to expect 2020 adjusted earnings per share to be in a range of $8.70 to $9.20 and 2021 adjusted earnings per share to be in a range of $9.40 to $9.95. These ranges reflect the company's expected compound annual growth rate in adjusted earnings per share of 6 to 8 percent off a base at the midpoint of the 2018 range of $7.70 per share, plus the expected transaction accretion of $0.15 in 2020 and $0.20 in 2021.

NextEra Energy's adjusted earnings expectations exclude the cumulative effect of adopting new accounting standards, the transitional impacts of tax reform, the effects of non-qualifying hedges, NextEra Energy Partners, LP net investment gains, as well as unrealized gains and losses on equity securities held in NextEra Energy Resources' nuclear decommissioning funds and OTTI, none of which can be determined at this time. Adjusted earnings expectations also exclude the operating results from the Spain solar projects and merger-related expenses. In addition, adjusted earnings expectations assume, among other things: normal weather and operating conditions; continued recovery of the national and the Florida economy; supportive commodity markets; current forward curves; public policy support for wind and solar development and construction; market demand and transmission expansion to support wind and solar development; market demand for pipeline capacity; access to capital at reasonable cost and terms; no divestitures other than to NextEra Energy Partners, LP or unannounced acquisitions; no adverse litigation decisions; and no changes to governmental tax policy or incentives. Please see the accompanying cautionary statements for a list of the risk factors that may affect future results.

 
As previously announced, NextEra Energy's third-quarter 2018 earnings conference call is scheduled for 9 a.m. ET today. Also discussed during the call will be the third-quarter 2018 financial results for NextEra Energy Partners, LP (NYSE: NEP). The listen-only webcast will be available on NextEra Energy's website by accessing the following link: www.NextEraEnergy.com/investors. The news release and slides accompanying the presentation may be downloaded at www.NextEraEnergy.com/investors, beginning at 7:30 a.m. ET today. A replay will be available for 90 days by accessing the same link as listed above.
 
 
 
 
 

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

NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with consolidated revenues of approximately $17.2 billion, operates approximately 46,790 megawatts of net generating capacity and employs approximately 14,000 people in 33 states and Canada as of year-end 2017. Headquartered in

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Juno Beach, Florida, NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves approximately 5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and 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 eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included in the S&P 100 index, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. NextEra Energy is ranked No. 1 in the electric and gas utilities industry on Fortune's 2018 list of "World's Most Admired Companies" and ranked among the top 25 on Fortune's 2018 list of companies that "Change the World." For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

###

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 results of acquisitions. 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, 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 and economic factors on regulatory decisions important to NextEra Energy and FPL; disallowance of cost recovery by FPL based on a finding of imprudent use of derivative instruments; effect of any reductions or modifications to, or elimination of, governmental incentives or policies that support utility scale renewable energy projects of NextEra Energy Resources, LLC and its affiliated entities (NextEra Energy Resources) or the imposition of additional tax laws, policies or assessments on renewable energy; impact of new or revised laws, regulations, interpretations or other 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; 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, financing, construction, permitting, governmental approvals and the negotiation of project development agreements; risks involved in the operation and maintenance of electric generation, transmission and distribution facilities, gas infrastructure facilities and other facilities; effect on NextEra Energy and FPL of a lack of growth or slower growth in the number of customers or in customer usage; impact on NextEra Energy and FPL of severe weather and other weather conditions; threats of terrorism and catastrophic events that could result from terrorism, cyber attacks 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’ gas infrastructure business and cause NextEra Energy Resources to delay or cancel certain gas infrastructure projects and for certain existing projects to be 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 of 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 FPL and NextEra Energy Resources; exposure of NextEra Energy and FPL to credit and performance risk from

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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 OTC markets; impact of negative publicity; inability of NextEra Energy and 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 result in 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; effect of disruptions, uncertainty or volatility in the credit and capital markets 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; NEP’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 NextEra Energy Operating Partners, LP; and effects of disruptions, uncertainty or volatility in the credit and capital markets on the market price of NextEra Energy's common stock. 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, 2017 and other SEC filings, and this news release should be read in conjunction with such SEC filings made through the date of this news release. 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.


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NextEra Energy, Inc.
Condensed Consolidated Statements of Income
(millions, except per share amounts)
(unaudited)
Preliminary
 
Three Months Ended September 30, 2018
 
FPL
 
NEER
 
Corporate and
Other(1)
 
NextEra Energy
Operating Revenues
 
$
3,399

 
$
1,020

 
$
(1
)
 
$
4,418

Operating Expenses (Income)
 
 
 
 
 
 
 
 
Fuel, purchased power and interchange
 
941

 
172

 
(30
)
 
1,083

Other operations and maintenance
 
385

 
412

 
37

 
834

Merger-related
 

 

 
13

 
13

Depreciation and amortization
 
804

 
309

 
18

 
1,131

Losses (gains) on disposal of a business/assets - net
 
(2
)
 
(9
)
 
2

 
(9
)
Taxes other than income taxes and other - net
 
354

 
40

 
2

 
396

Total operating expenses (income) - net
 
2,482

 
924

 
42

 
3,448

Operating Income (Loss)
 
917

 
96

 
(43
)
 
970

Other Income (Deductions)
 
 
 
 
 
 
 
 
Interest expense
 
(136
)
 
(109
)
 
78

 
(167
)
Equity in earnings of equity method investees
 

 
115

 
7

 
122

Allowance for equity funds used during construction
 
23

 

 
1

 
24

Interest income
 
1

 
8

 
2

 
11

Gains on disposal of investments and other property - net
 

 
31

 

 
31

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

 
30

 

 
30

Other net periodic benefit income
 

 

 
37

 
37

Other - net
 
1

 
11

 
(1
)
 
11

Total other income (deductions) - net
 
(111
)
 
86

 
124

 
99

Income (Loss) before Income Taxes
 
806

 
182

 
81

 
1,069

Income Tax Expense (Benefit)
 
152

 
32

 
(58
)
 
126

Net Income (Loss)
 
654

 
150

 
139

 
943

Net (Income) Loss Attributable to Noncontrolling Interests
 

 
64

 

 
64

Net Income (Loss) Attributable to NextEra Energy, Inc.
 
$
654

 
$
214

 
$
139

 
$
1,007

Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings:
 
 
 
 
 
 
 
 
Net Income (Loss) Attributable to NextEra Energy, Inc.
 
$
654

 
$
214

 
$
139

 
$
1,007

Adjustments - pretax:
 
 
 
 
 
 
 
 
Net losses (gains) associated with non-qualifying hedges(2)
 

 
137

 
(102
)
 
35

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net(3)
 

 
(32
)
 

 
(32
)
Tax reform-related(4)
 

 
42

 
(17
)
 
25

NEP investment gains - net(5)
 

 
28

 

 
28

Operating income of Spain solar projects(6)
 

 
(9
)
 

 
(9
)
Merger-related(7)
 

 

 
13

 
13

Less related income tax expense (benefit)
 

 
(32
)
 
4

 
(28
)
Adjusted Earnings
 
$
654

 
$
348

 
$
37

 
$
1,039

Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)(8)
 
$
1.37

 
$
0.44

 
$
0.29

 
$
2.10

Adjustments - pretax:
 
 
 
 
 
 
 
 
Net losses (gains) associated with non-qualifying hedges(2)
 

 
0.30

 
(0.21
)
 
0.09

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net(3)
 

 
(0.06
)
 

 
(0.06
)
Tax reform-related(4)
 

 
0.09

 
(0.04
)
 
0.05

NEP investment gains - net(5)
 

 
0.06

 

 
0.06

Operating income of Spain solar projects(6)
 

 
(0.02
)
 

 
(0.02
)
Merger-related(7)
 

 

 
0.03

 
0.03

Less related income tax expense (benefit)
 

 
(0.08
)
 
0.01

 
(0.07
)
Adjusted Earnings Per Share
 
$
1.37

 
$
0.73

 
$
0.08

 
$
2.18

Weighted-average shares outstanding (assuming dilution)
 
 
 
 
 
 
 
477

————————————
 
 
 
 
 
 
 
 
(1) Corporate & Other represents other business activities, consolidating income tax adjustments and eliminating entries, and may include the net effect of rounding. Corporate & Other allocates a portion of corporate interest expense to NEER. Interest expense is allocated based on a deemed capital structure of 70% debt and, for purposes of allocating corporate interest expense, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual corporate interest expense is included in Corporate & Other.
(2) After tax impact on adjusted earnings by segment is $0, $106, ($80), $26 or $0.00, $0.22, ($0.16), $0.06 per share, respectively.
(3) After tax impact on adjusted earnings by segment is ($23) or $(0.04) per share, respectively.
(4) After tax impact on adjusted earnings by segment is $0, $36, ($17), $19 or $0.00, $0.08, ($0.04), $0.04 per share, respectively.
(5) After tax impact on adjusted earnings by segment is $18 or $0.04 per share, respectively.
(6) After tax impact on adjusted earnings is ($3) or ($0.01) per share.
(7) After tax impact on adjusted earnings is ($5) or ($0.01) per share.
(8) Adjusted for the impact of dilutive securities at NEP.

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NextEra Energy, Inc.
Condensed Consolidated Statements of Income
(millions, except per share amounts)
(unaudited)
Preliminary
 
Three Months Ended September 30, 2017
 
FPL
 
NEER
 
Corporate and
Other(1)(2)
 
NextEra Energy(2)
Operating Revenues
 
$
3,477

 
$
1,333

 
$
(2
)
 
$
4,808

Operating Expenses (Income)
 
 
 
 
 
 
 
 
Fuel, purchased power and interchange
 
1,036

 
172

 
(32
)
 
1,176

Other operations and maintenance
 
362

 
399

 
56

 
817

Merger-related
 

 

 
2

 
2

Depreciation and amortization
 
704

 
359

 
7

 
1,070

Losses (gains) on disposal of a business/assets - net
 
(1
)
 
(4
)
 

 
(5
)
Taxes other than income taxes and other - net
 
354

 
38

 
5

 
397

Total operating expenses (income) - net
 
2,455

 
964

 
38

 
3,457

Operating Income (Loss)
 
1,022

 
369

 
(40
)
 
1,351

Other Income (Deductions)
 
 
 
 
 
 
 
 
Interest expense
 
(121
)
 
(193
)
 
(67
)
 
(381
)
Benefits associated with differential membership interests - net
 

 
67

 

 
67

Equity in earnings of equity method investees
 

 
54

 
2

 
56

Allowance for equity funds used during construction
 
20

 

 
1

 
21

Interest income
 
1

 
18

 
1

 
20

Gains on disposal of investments and other property - net
 

 
14

 
1

 
15

Other net periodic benefit income
 

 

 
48

 
48

Other - net
 

 
16

 
7

 
23

Total other income (deductions) - net
 
(100
)
 
(24
)
 
(7
)
 
(131
)
Income (Loss) before Income Taxes
 
922

 
345

 
(47
)
 
1,220

Income Tax Expense (Benefit)
 
356

 
44

 
(36
)
 
364

Net Income (Loss)
 
566

 
301

 
(11
)
 
856

Net (Income) Loss Attributable to Noncontrolling Interests
 

 
(9
)
 

 
(9
)
Net Income (Loss) Attributable to NextEra Energy, Inc.
 
$
566

 
$
292

 
$
(11
)
 
$
847

Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings:
 
 
 
 
 
 
 
 
Net Income (Loss) Attributable to NextEra Energy, Inc.
 
$
566

 
$
292

 
$
(11
)
 
$
847

Adjustments - pretax:
 
 
 
 
 
 
 
 
Net losses (gains) associated with non-qualifying hedges(3)
 

 
17

 
45

 
62

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net(4)
 

 
(9
)
 

 
(9
)
Operating income of Spain solar projects(5)
 

 
(8
)
 

 
(8
)
Merger-related(6)
 

 

 
3

 
3

Less related income tax expense (benefit)
 

 

 
(20
)
 
(20
)
Adjusted Earnings
 
$
566

 
$
292

 
$
17

 
$
875

Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)
 
$
1.19

 
$
0.62

 
$
(0.02
)
 
$
1.79

Adjustments - pretax:
 
 
 
 
 
 
 
 
Net losses (gains) associated with non-qualifying hedges(3)
 

 
0.04

 
0.09

 
0.13

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net(4)
 

 
(0.02
)
 

 
(0.02
)
Operating income of Spain solar projects(5)
 

 
(0.02
)
 

 
(0.02
)
Merger-related(6)
 

 

 
0.01

 
0.01

Less related income tax expense (benefit)
 

 

 
(0.04
)
 
(0.04
)
Adjusted Earnings Per Share
 
$
1.19

 
$
0.62

 
$
0.04

 
$
1.85

Weighted-average shares outstanding (assuming dilution)
 
 
 
 
 
 
 
474

————————————
 
 
 
 
 
 
 
 
(1) Corporate & Other represents other business activities, consolidating income tax adjustments and eliminating entries, and may include the net effect of rounding. Corporate & Other allocates a portion of corporate interest expense to NEER. Interest expense is allocated based on a deemed capital structure of 70% debt and, for purposes of allocating corporate interest expense, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual corporate interest expense is included in Corporate & Other.
(2) Prior period amounts have been retrospectively adjusted for an accounting standards update related to the presentation of retirement benefits.
(3) After tax impact on adjusted earnings by segment is $0, $13, $26, $39, respectively, or $0.00, $0.03, $0.05, $0.08 per share.
(4) After tax impact on adjusted earnings is ($5) or ($0.01) per share.
(5) After tax impact on adjusted earnings is ($8) or ($0.02) per share.
(6) After tax impact on adjusted earnings is $2 or $0.01 per share.

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NextEra Energy, Inc.
Condensed Consolidated Statements of Income
(millions, except per share amounts)
(unaudited)
Preliminary
 
Nine Months Ended September 30, 2018
 
FPL
 
NEER
 
Corporate and
Other(1)
 
NextEra Energy
Operating Revenues
 
$
8,927

 
$
3,429

 
$
(5
)
 
$
12,351

Operating Expenses (Income)
 
 
 
 
 
 
 
 
Fuel, purchased power and interchange
 
2,418

 
469

 
(91
)
 
2,796

Other operations and maintenance
 
1,119

 
1,205

 
136

 
2,460

Merger-related
 

 

 
13

 
13

Depreciation and amortization
 
1,860

 
904

 
55

 
2,819

Losses (gains) on disposal of a business/assets - net
 
(5
)
 
(67
)
 
8

 
(64
)
Taxes other than income taxes and other - net
 
989

 
152

 
7

 
1,148

Total operating expenses (income) - net
 
6,381

 
2,663

 
128

 
9,172

Operating Income (Loss)
 
2,546

 
766

 
(133
)
 
3,179

Other Income (Deductions)
 
 
 
 
 
 
 
 
Interest expense
 
(411
)
 
(322
)
 
(54
)
 
(787
)
Equity in earnings of equity method investees
 

 
346

 
26

 
372

Allowance for equity funds used during construction
 
64

 

 
4

 
68

Interest income
 
2

 
31

 
6

 
39

Gain on NEP deconsolidation
 

 
3,935

 

 
3,935

Gains on disposal of investments and other property - net
 

 
83

 

 
83

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

 
22

 

 
22

Other net periodic benefit income
 

 

 
139

 
139

Other - net
 
3

 
32

 
(5
)
 
30

Total other income (deductions) - net
 
(342
)
 
4,127

 
116

 
3,901

Income (Loss) before Income Taxes
 
2,204

 
4,893

 
(17
)
 
7,080

Income Tax Expense (Benefit)
 
440

 
1,233

 
(68
)
 
1,605

Net Income (Loss)
 
1,764

 
3,660

 
51

 
5,475

Net (Income) Loss Attributable to Noncontrolling Interests
 

 
754

 

 
754

Net Income (Loss) Attributable to NextEra Energy, Inc.
 
$
1,764

 
$
4,414

 
$
51

 
$
6,229

Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings:
 
 
 
 
 
 
 
 
Net Income (Loss) Attributable to NextEra Energy, Inc.
 
$
1,764

 
$
4,414

 
$
51

 
$
6,229

Adjustments - pretax:
 
 
 
 
 
 
 
 
Net losses (gains) associated with non-qualifying hedges(2)
 

 
57

 
(2
)
 
55

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net(3)
 

 
(28
)
 

 
(28
)
Tax reform-related(4)
 

 
(556
)
 
(14
)
 
(570
)
NEP investment gains - net(5)
 

 
(3,797
)
 

 
(3,797
)
Operating income of Spain solar projects(6)
 

 
(2
)
 

 
(2
)
Merger-related(7)
 

 

 
13

 
13

Less related income tax expense (benefit)
 

 
1,053

 
6

 
1,059

Adjusted Earnings
 
$
1,764

 
$
1,141

 
$
54

 
$
2,959

Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)(8)
 
$
3.71

 
$
9.21

 
$
0.11

 
$
13.03

Adjustments - pretax:
 
 
 
 
 
 
 
 
Net losses (gains) associated with non-qualifying hedges(2)
 

 
0.13

 

 
0.13

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net(3)
 

 
(0.06
)
 

 
(0.06
)
Tax reform-related(4)
 

 
(1.15
)
 
(0.03
)
 
(1.18
)
NEP investment gains - net(5)
 

 
(7.94
)
 

 
(7.94
)
Operating income of Spain solar projects(6)
 

 
(0.01
)
 

 
(0.01
)
Merger-related(7)
 

 

 
0.03

 
0.03

Less related income tax expense (benefit)
 

 
2.22

 

 
2.22

Adjusted Earnings Per Share
 
$
3.71

 
$
2.40

 
$
0.11

 
$
6.22

Weighted-average shares outstanding (assuming dilution)
 
 
 
 
 
 
 
476

————————————
 
 
 
 
 
 
 
 
(1) Corporate & Other represents other business activities, consolidating income tax adjustments and eliminating entries, and may include the net effect of rounding. Corporate & Other allocates a portion of corporate interest expense to NEER. Interest expense is allocated based on a deemed capital structure of 70% debt and, for purposes of allocating corporate interest expense, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual corporate interest expense is included in Corporate & Other.
(2) After tax impact on adjusted earnings by segment is $0, $47, $2, $49 or $0.00, $0.10, $0.00, $0.10 per share, respectively.
(3) After tax impact on adjusted earnings by segment is $0, ($21), ($2), ($23) or $0.00, ($0.04), $0.00, ($0.04) per share, respectively.
(4) After tax impact on adjusted earnings by segment is $0, ($412), ($17), ($429) or $0.00, ($0.84), ($0.04), ($0.88) per share, respectively.
(5) After tax impact on adjusted earnings by segment is $0, ($2,892), $25, ($2,867) or $0.00, ($6.04), $0.05, ($5.99) per share, respectively.
(6) After tax impact on adjusted earnings is $5 or $0.01 per share.
(7) After tax impact on adjusted earnings is ($5) or ($0.01) per share.
(8) Adjusted for the impact of dilutive securities at NEP.

8



NextEra Energy, Inc.
Condensed Consolidated Statements of Income
(millions, except per share amounts)
(unaudited)
Preliminary
 
Nine Months Ended September 30, 2017
FPL
 
NEER
 
Corporate and
Other(1)(2)
 
NextEra Energy(2)
Operating Revenues
$
9,095

 
$
4,052

 
$
38

 
$
13,185

Operating Expenses (Income)
 
 
 
 
 
 
 
Fuel, purchased power and interchange
2,696

 
458

 
(61
)
 
3,093

Other operations and maintenance
1,137

 
1,232

 
132

 
2,501

Merger-related

 

 
17

 
17

Depreciation and amortization
1,514

 
1,044

 
18

 
2,576

Losses (gains) on disposal of a business/assets - net
(4
)
 
(8
)
 
(1,094
)
 
(1,106
)
Taxes other than income taxes and other - net
979

 
126

 
10

 
1,115

Total operating expenses (income) - net
6,322

 
2,852

 
(978
)
 
8,196

Operating Income (Loss)
2,773

 
1,200

 
1,016

 
4,989

Other Income (Deductions)
 
 
 
 
 
 
 
Interest expense
(360
)
 
(613
)
 
(198
)
 
(1,171
)
Benefits associated with differential membership interests - net

 
311

 

 
311

Equity in earnings of equity method investees

 
147

 
6

 
153

Allowance for equity funds used during construction
55

 
12

 
1

 
68

Interest income
1

 
53

 
5

 
59

Gains on disposal of investments and other property - net

 
47

 
17

 
64

Other net periodic benefit income

 

 
101

 
101

Other - net
1

 
27

 
(21
)
 
7

Total other income (deductions) - net
(303
)
 
(16
)
 
(89
)
 
(408
)
Income (Loss) before Income Taxes
2,470

 
1,184

 
927

 
4,581

Income Tax Expense (Benefit)
933

 
86

 
310

 
1,329

Net Income (Loss)
1,537

 
1,098

 
617

 
3,252

Net (Income) Loss Attributable to Noncontrolling Interests

 
(29
)
 

 
(29
)
Net Income (Loss) Attributable to NextEra Energy, Inc.
$
1,537

 
$
1,069

 
$
617

 
$
3,223

Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings:
 
 
 
 
 
 
 
Net Income (Loss) Attributable to NextEra Energy, Inc.
$
1,537

 
$
1,069

 
$
617

 
$
3,223

Adjustments - pretax:
 
 
 
 
 
 
 
Net losses (gains) associated with non-qualifying hedges(3)

 
(90
)
 
130

 
40

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net(4)

 
(7
)
 

 
(7
)
Gains on disposal of a business/assets(5)

 

 
(1,096
)
 
(1,096
)
Operating income of Spain solar projects(6)

 
(6
)
 

 
(6
)
Merger-related(7)

 

 
41

 
41

Less related income tax expense (benefit)
 

 
34

 
346

 
380

Adjusted Earnings
$
1,537

 
$
1,000

 
$
38

 
$
2,575

Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution)
$
3.26

 
$
2.26

 
$
1.31

 
$
6.83

Adjustments - pretax:
 
 
 
 
 
 
 
Net losses (gains) associated with non-qualifying hedges(3)

 
(0.19
)
 
0.28

 
0.09

Change in unrealized losses (gains) on equity securities held in NEER's nuclear decommissioning funds and OTTI - net(4)

 
(0.01
)
 

 
(0.01
)
Gains on disposal of a business/assets(5)

 

 
(2.32
)
 
(2.32
)
Operating income of Spain solar projects(6)

 
(0.01
)
 

 
(0.01
)
Merger-related(7)

 

 
0.09

 
0.09

Less related income tax expense (benefit)

 
0.06

 
0.73

 
0.79

Adjusted Earnings Per Share
$
3.26

 
$
2.11

 
$
0.09

 
$
5.46

Weighted-average shares outstanding (assuming dilution)
 
 
 
 
 
 
472

————————————

 
 
 
 
 
 
 
 
(1) Corporate & Other represents other business activities, consolidating income tax adjustments and eliminating entries, and may include the net effect of rounding. Corporate & Other allocates a portion of corporate interest expense to NEER. Interest expense is allocated based on a deemed capital structure of 70% debt and, for purposes of allocating corporate interest expense, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual corporate interest expense is included in Corporate & Other.
(2) Prior period amounts have been retrospectively adjusted for an accounting standards update related to the presentation of retirement benefits.
(3) After tax impact on adjusted earnings by segment is $0, ($57), $78, $21, respectively, or $0.00, ($0.12), $0.17, $0.05 per share.
(4) After tax impact on adjusted earnings is ($4) or ($0.01) per share.
(5) After tax impact on adjusted earnings is ($685) or ($1.45) per share.
(6) After tax impact on adjusted earnings is ($8) or ($0.02) per share.
(7) After tax impact on adjusted earnings is $28 or $0.06 per share.

9



NextEra Energy, Inc.
 
 
 
 
 
 
 
 
Condensed Consolidated Balance Sheets
 
 
 
 
 
 
 
 
(millions)
(unaudited)
 
 
 
Preliminary
 
September 30, 2018
 
FPL
 
NEER
 
Corporate and
Other(1)
 
NextEra Energy
Property, Plant and Equipment
 
 
 
 
 
 
 
 
Electric plant in service and other property
 
$
49,479

 
$
29,188

 
$
1,049

 
$
79,716

Nuclear fuel
 
1,221

 
680

 

 
1,901

Construction work in progress
 
3,778

 
4,708

 
222

 
8,708

Accumulated depreciation and amortization
 
(13,326
)
 
(8,267
)
 
(160
)
 
(21,753
)
Total property, plant and equipment - net
 
41,152

 
26,309

 
1,111

 
68,572

Current Assets
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
103

 
373

 
21

 
497

Customer receivables, net of allowances
 
1,372

 
1,063

 
19

 
2,454

Other receivables
 
233

 
553

 
(121
)
 
665

Materials, supplies and fossil fuel inventory
 
698

 
386

 
(1
)
 
1,083

Regulatory assets
 
399

 

 

 
399

Derivatives
 
3

 
459

 
1

 
463

Assets held for sale
 

 
2,270

 

 
2,270

Other
 
229

 
287

 
2

 
518

Total current assets
 
3,037

 
5,391

 
(79
)
 
8,349

Other Assets
 
 
 
 
 
 
 
 
Special use funds
 
4,364

 
1,997

 

 
6,361

Investment in equity method investees
 

 
6,251

 
242

 
6,493

Prepaid benefit costs
 
1,402

 

 
107

 
1,509

Regulatory assets
 
2,168

 
9

 
219

 
2,396

Derivatives
 

 
1,336

 
39

 
1,375

Other
 
855

 
2,388

 
305

 
3,548

Total other assets
 
8,789

 
11,981

 
912

 
21,682

Total Assets
 
$
52,978

 
$
43,681

 
$
1,944

 
$
98,603

Capitalization
 
 
 
 
 
 
 
 
Common stock
 
$
1,373

 
$

 
$
(1,368
)
 
$
5

Additional paid-in capital
 
10,603

 
10,266

 
(10,399
)
 
10,470

Retained earnings
 
9,133

 
16,939

 
(2,137
)
 
23,935

Accumulated other comprehensive income (loss)
 

 
(96
)
 
(62
)
 
(158
)
Total common shareholders' equity
 
21,109

 
27,109

 
(13,966
)
 
34,252

Noncontrolling interests
 

 
3,086

 

 
3,086

Total equity
 
21,109

 
30,195

 
(13,966
)
 
37,338

Long-term debt
 
11,595

 
4,531

 
10,922

 
27,048

Total capitalization
 
32,704

 
34,726

 
(3,044
)
 
64,386

Current Liabilities
 
 
 
 
 
 
 
 
Commercial paper
 
205

 

 
2,255

 
2,460

Other short-term debt
 

 
5

 
425

 
430

Current maturities of long-term debt
 
96

 
366

 
2,187

 
2,649

Accounts payable
 
756

 
2,260

 
(16
)
 
3,000

Customer deposits
 
445

 
3

 

 
448

Accrued interest and taxes
 
868

 
232

 
(169
)
 
931

Derivatives
 
2

 
429

 
52

 
483

Accrued construction-related expenditures
 
250

 
652

 
3

 
905

Regulatory liabilities
 
381

 
2

 
13

 
396

Other
 
500

 
516

 
89

 
1,105

Total current liabilities
 
3,503

 
4,465

 
4,839

 
12,807

Other Liabilities and Deferred Credits
 
 
 
 
 
 
 
 
Asset retirement obligations
 
2,122

 
943

 

 
3,065

Deferred income taxes
 
5,133

 
2,502

 
(215
)
 
7,420

Regulatory liabilities
 
9,072

 

 
117

 
9,189

Derivatives
 
1

 
491

 
30

 
522

Other
 
443

 
554

 
217

 
1,214

Total other liabilities and deferred credits
 
16,771

 
4,490

 
149

 
21,410

Commitments and Contingencies
 
 
 
 
 
 
 
 
Total Capitalization and Liabilities
 
$
52,978

 
$
43,681

 
$
1,944

 
$
98,603

————————————

(1) Corporate & Other represents other business activities, consolidating income tax adjustments and eliminating entries, and may include the net effect of rounding. Corporate & Other allocates a portion of corporate interest expense to NEER. Interest expense is allocated based on a deemed capital structure of 70% debt and, for purposes of allocating corporate interest expense, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual corporate interest expense is included in Corporate & Other.


10



NextEra Energy, Inc.
 
 
 
 
 
 
 
 
Condensed Consolidated Balance Sheets
 
 
 
Preliminary
 
(millions)
 
 
 
(unaudited)
 
 
 
 
 
 
 
 
December 31, 2017
 
FPL
 
NEER
 
Corporate and
Other(1)
 
NextEra Energy
Property, Plant and Equipment
 
 
 
 
 
 
 
 
Electric plant in service and other property
 
$
47,167

 
$
37,182

 
$
988

 
$
85,337

Nuclear fuel
 
1,192

 
575

 

 
1,767

Construction work in progress
 
3,623

 
3,010

 
46

 
6,679

Accumulated depreciation and amortization
 
(12,802
)
 
(8,452
)
 
(113
)
 
(21,367
)
Total property, plant and equipment - net
 
39,180

 
32,315

 
921

 
72,416

Current Assets
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
33

 
743

 
938

 
1,714

Customer receivables, net of allowances
 
1,073

 
1,127

 
20

 
2,220

Other receivables
 
160

 
814

 
(457
)
 
517

Materials, supplies and fossil fuel inventory
 
840

 
433

 

 
1,273

Regulatory assets
 
335

 

 
1

 
336

Derivatives
 
2

 
484

 
3

 
489

Assets held for sale
 

 
140

 

 
140

Other
 
241

 
226

 
1

 
468

Total current assets
 
2,684

 
3,967

 
506

 
7,157

Other Assets
 
 
 
 
 
 
 
 
Special use funds
 
4,090

 
1,913

 

 
6,003

Investment in equity method investees
 

 
2,153

 
168

 
2,321

Prepaid benefit costs
 
1,351

 

 
76

 
1,427

Regulatory assets
 
2,249

 
9

 
211

 
2,469

Derivatives
 

 
1,304

 
11

 
1,315

Other
 
690

 
3,888

 
141

 
4,719

Total other assets
 
8,380

 
9,267

 
607

 
18,254

Total Assets
 
$
50,244

 
$
45,549

 
$
2,034

 
$
97,827

Capitalization
 
 
 
 
 
 
 
 
Common stock
 
$
1,373

 
$

 
$
(1,368
)
 
$
5

Additional paid-in capital
 
8,291

 
7,936

 
(7,127
)
 
9,100

Retained earnings
 
7,376

 
12,244

 
(628
)
 
18,992

Accumulated other comprehensive income (loss)
 

 
162

 
(51
)
 
111

Total common shareholders' equity
 
17,040

 
20,342

 
(9,174
)
 
28,208

Noncontrolling interests
 

 
1,290

 

 
1,290

Total equity
 
17,040

 
21,632

 
(9,174
)
 
29,498

Long-term debt
 
11,236

 
9,616

 
10,611

 
31,463

Total capitalization
 
28,276

 
31,248

 
1,437

 
60,961

Current Liabilities
 
 
 
 
 
 
 
 
Commercial paper
 
1,687

 

 

 
1,687

Other short-term debt
 
250

 
5

 

 
255

Current maturities of long-term debt
 
466

 
565

 
645

 
1,676

Accounts payable
 
893

 
2,385

 
(43
)
 
3,235

Customer deposits
 
445

 
3

 

 
448

Accrued interest and taxes
 
439

 
374

 
(191
)
 
622

Derivatives
 
2

 
341

 
21

 
364

Accrued construction-related expenditures
 
300

 
729

 
4

 
1,033

Regulatory liabilities
 
333

 

 
13

 
346

Other
 
982

 
483

 
101

 
1,566

Total current liabilities
 
5,797

 
4,885

 
550

 
11,232

Other Liabilities and Deferred Credits
 
 
 
 
 
 
 
 
Asset retirement obligations
 
2,047

 
984

 

 
3,031

Deferred income taxes
 
5,005

 
1,120

 
(371
)
 
5,754

Regulatory liabilities
 
8,642

 

 
123

 
8,765

Derivatives
 

 
494

 
41

 
535

Deferral related to differential membership interests
 

 
5,403

 

 
5,403

Other
 
477

 
1,415

 
254

 
2,146

Total other liabilities and deferred credits
 
16,171

 
9,416

 
47

 
25,634

Commitments and Contingencies
 
 
 
 
 
 
 
 
Total Capitalization and Liabilities
 
$
50,244

 
$
45,549

 
$
2,034

 
$
97,827

————————————

 
 
 
 
 
 
 
 
(1) Corporate & Other represents other business activities, consolidating income tax adjustments and eliminating entries, and may include the net effect of rounding. Corporate & Other allocates a portion of corporate interest expense to NEER. Interest expense is allocated based on a deemed capital structure of 70% debt and, for purposes of allocating corporate interest expense, the deferred credit associated with differential membership interests sold by NEER subsidiaries is included with debt.  Residual corporate interest expense is included in Corporate & Other.

11



NextEra Energy, Inc.
Condensed Consolidated Statements of Cash Flows
(millions)
(unaudited)
Preliminary
 
Nine Months Ended September 30, 2018
 
FPL
 
NEER
 
Corporate and
Other(1)
 
NextEra Energy
Cash Flows From Operating Activities
 
 
 
 
 
 
 
 
Net income
 
$
1,764

 
$
3,660

 
$
51

 
$
5,475

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
 
 
 
 
 
Depreciation and amortization
 
1,860

 
904

 
55

 
2,819

Nuclear fuel and other amortization
 
110

 
52

 
14

 
176

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

 
91

 
(3
)
 
88

Foreign currency transaction gains
 

 

 
(5
)
 
(5
)
Deferred income taxes
 
195

 
1,382

 
(22
)
 
1,555

Cost recovery clauses and franchise fees
 
(79
)
 

 

 
(79
)
Acquisition of purchased power agreement
 
(52
)
 

 

 
(52
)
Losses (gains) on disposal of a business/assets - net
 
(5
)
 
(150
)
 
8

 
(147
)
Gain on NEP deconsolidation
 

 
(3,935
)
 

 
(3,935
)
Other - net
 
39

 
(192
)
 
20

 
(133
)
Changes in operating assets and liabilities:
 
 
 
 
 
 
 
 
Current assets
 
(301
)
 
(38
)
 
(374
)
 
(713
)
Noncurrent assets
 
(14
)
 
(76
)
 
(7
)
 
(97
)
Current liabilities
 
32