NEXTERA ENERGY INCNEE
NEXTERA ENERGY INC Segments Disclosure
Segment Information
The tables below present information for NEE's two reportable segments, FPL, a rate-regulated utility business, and NEER, which is comprised of competitive energy and regulated transmission businesses. Corporate and Other represents other business activities, includes eliminating entries, and may include the net effect of rounding. FPL has a single reportable segment. See Note 2 for information regarding NEE's and FPL's operating revenues.
NEE's and FPL's chief operating decision maker (CODM) is NEE's chief executive officer. The CODM makes key operating decisions and evaluates the reportable segment's operating results, including net income attributable to NEE, for financial planning, analysis of performance and resource allocation.
Net income attributable to NEE and significant expenses for NEE's reportable segments and the FPL reportable segment are shown below.
| December 31, 2025 | |||||||||||||||||
| FPL | NEER | Total | |||||||||||||||
| (millions) | |||||||||||||||||
| Operating revenues | $ | 18,262 | $ | 8,760 | $ | 27,022 | |||||||||||
Corporate and Other | 390 | ||||||||||||||||
Total consolidated revenues | $ | 27,412 | |||||||||||||||
| Less: | |||||||||||||||||
| Fuel, purchased power and interchange | 3,878 | 1,066 | |||||||||||||||
| Other operations and maintenance | 1,771 | 2,997 | |||||||||||||||
| Depreciation and amortization | 3,778 | 2,738 | |||||||||||||||
| Taxes other than income taxes and other – net | 2,016 | 450 | |||||||||||||||
| Interest expense | 1,284 | 1,683 | (a) | ||||||||||||||
Income tax expense (benefit)(b) | 719 | (1,140) | |||||||||||||||
Other segment items(c) | 196 | 2,009 | |||||||||||||||
| Net income attributable to NEE for reportable segments | 5,012 | 2,975 | $ | 7,987 | |||||||||||||
Reconciliation of segment profit/(loss) | |||||||||||||||||
| Corporate and Other | (1,152) | ||||||||||||||||
| Net income attributable to NEE | $ | 5,012 | $ | 2,975 | $ | 6,835 | |||||||||||
_________________________
(a)Interest expense allocated from NEECH to NextEra Energy Resources is based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual NEECH corporate interest expense is included in Corporate and Other.
(b)Includes amounts that were recognized based on the tax sharing agreement with NEE. See Note 1 – Income Taxes.
(c)Other segment items for each reportable segment include:
FPL – Allowance for equity funds used during construction and other – net
NEER – Gains on disposal of businesses/assets – net, equity in losses of equity method investees, allowance for equity funds used during construction, gains on disposal of investments and other property – net, change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net, other – net and net loss attributable to noncontrolling interests
| December 31, 2024 | |||||||||||||||||
| FPL | NEER | Total | |||||||||||||||
(millions) | |||||||||||||||||
| Operating revenues | $ | 17,019 | $ | 7,542 | $ | 24,561 | |||||||||||
| Corporate and Other | 192 | ||||||||||||||||
Total consolidated revenues | $ | 24,753 | |||||||||||||||
| Less: | |||||||||||||||||
| Fuel, purchased power and interchange | 4,188 | 914 | |||||||||||||||
| Other operations and maintenance | 1,609 | 2,776 | |||||||||||||||
| Depreciation and amortization | 2,827 | 2,577 | |||||||||||||||
| Taxes other than income taxes and other – net | 1,904 | 371 | |||||||||||||||
| Interest expense | 1,178 | 1,114 | (a) | ||||||||||||||
Income tax expense (benefit)(b) | 970 | (655) | |||||||||||||||
Other segment items(c) | 200 | 1,854 | |||||||||||||||
| Net income attributable to NEE for reportable segments | 4,543 | 2,299 | $ | 6,842 | |||||||||||||
Reconciliation of segment profit/(loss) | |||||||||||||||||
| Corporate and Other | 104 | ||||||||||||||||
| Net income attributable to NEE | $ | 4,543 | $ | 2,299 | $ | 6,946 | |||||||||||
_________________________
(a)Interest expense allocated from NEECH to NextEra Energy Resources is based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual NEECH corporate interest expense is included in Corporate and Other.
(b)Includes amounts that were recognized based on the tax sharing agreement with NEE. See Note 1 – Income Taxes.
(c)Other segment items for each reportable segment include:
FPL – Allowance for equity funds used during construction and other – net
NEER – Gains on disposal of businesses/assets – net, equity in losses of equity method investees, allowance for equity funds used during construction, gains on disposal of investments and other property – net, change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net, other – net and net loss attributable to noncontrolling interests
| December 31, 2023 | |||||||||||||||||
| FPL | NEER | Total | |||||||||||||||
(millions) | |||||||||||||||||
| Operating revenues | $ | 18,365 | $ | 9,672 | $ | 28,037 | |||||||||||
| Corporate and Other | 77 | ||||||||||||||||
Total consolidated revenues | $ | 28,114 | |||||||||||||||
| Less: | |||||||||||||||||
| Fuel, purchased power and interchange | 4,761 | 795 | |||||||||||||||
| Other operations and maintenance | 1,666 | 2,601 | |||||||||||||||
| Depreciation and amortization | 3,789 | 2,009 | |||||||||||||||
| Taxes other than income taxes and other – net | 1,959 | 301 | |||||||||||||||
| Interest expense | 1,114 | 1,129 | (a) | ||||||||||||||
Income tax expense (benefit)(b) | 1,123 | 177 | |||||||||||||||
Other segment items(c) | 599 | 898 | |||||||||||||||
| Net income attributable to NEE for reportable segments | 4,552 | 3,558 | $ | 8,110 | |||||||||||||
Reconciliation of segment profit/(loss) | |||||||||||||||||
| Corporate and Other | (800) | ||||||||||||||||
| Net income attributable to NEE | $ | 4,552 | $ | 3,558 | $ | 7,310 | |||||||||||
_________________________
(a)Interest expense allocated from NEECH to NextEra Energy Resources is based on a deemed capital structure of 70% debt and differential membership interests sold by NextEra Energy Resources' subsidiaries. Residual NEECH corporate interest expense is included in Corporate and Other.
(b)Includes amounts that were recognized based on the tax sharing agreement with NEE. See Note 1 – Income Taxes.
(c)Other segment items for each reportable segment include:
FPL – Gains on disposal of businesses/assets – net, allowance for equity funds used during construction and other – net
NEER – Losses on disposal of businesses/assets – net, equity in losses of equity method investees, allowance for equity funds used during construction, gains on disposal of investments and other property – net, change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net, other – net and net loss attributable to noncontrolling interests
NEE's and FPL's additional segment information is as follows:
| 2025 | |||||||||||||||||||||||||||||
| FPL | NEER | Total Reportable Segments | Corp. and Other | Total Consolidated | |||||||||||||||||||||||||
| (millions) | |||||||||||||||||||||||||||||
Gains (losses) on disposal of businesses/assets – net | $ | 1 | $ | 268 | $ | 269 | $ | (9) | $ | 260 | |||||||||||||||||||
| Equity in earnings (losses) of equity method investees | $ | — | $ | (193) | $ | (193) | $ | 9 | $ | (184) | |||||||||||||||||||
| Net loss attributable to noncontrolling interests | $ | — | $ | 1,503 | $ | 1,503 | $ | — | $ | 1,503 | |||||||||||||||||||
| Capital expenditures, independent power and other investments and nuclear fuel purchases | $ | 8,935 | $ | 15,669 | $ | 24,604 | $ | 2 | $ | 24,606 | |||||||||||||||||||
| Property, plant and equipment – net | $ | 81,755 | $ | 74,287 | $ | 156,042 | $ | 155 | $ | 156,197 | |||||||||||||||||||
| Total assets | $ | 105,158 | $ | 103,528 | $ | 208,686 | $ | 4,035 | $ | 212,721 | |||||||||||||||||||
| Investment in equity method investees | $ | — | $ | 5,509 | $ | 5,509 | $ | 19 | $ | 5,528 | |||||||||||||||||||
| 2024 | |||||||||||||||||||||||||||||
FPL | NEER | Total Reportable Segments | Corp. and Other | Total Consolidated | |||||||||||||||||||||||||
| (millions) | |||||||||||||||||||||||||||||
Gains (losses) on disposal of businesses/assets – net | $ | 1 | $ | 361 | $ | 362 | $ | (10) | $ | 352 | |||||||||||||||||||
| Equity in earnings (losses) of equity method investees | $ | — | $ | (267) | $ | (267) | $ | 21 | $ | (246) | |||||||||||||||||||
Net loss attributable to noncontrolling interests | $ | — | $ | 1,248 | $ | 1,248 | $ | — | $ | 1,248 | |||||||||||||||||||
| Capital expenditures, independent power and other investments and nuclear fuel purchases | $ | 8,214 | $ | 16,392 | $ | 24,606 | $ | 123 | $ | 24,729 | |||||||||||||||||||
Property, plant and equipment – net | $ | 76,166 | $ | 62,526 | $ | 138,692 | $ | 160 | $ | 138,852 | |||||||||||||||||||
| Total assets | $ | 98,141 | $ | 89,398 | $ | 187,539 | $ | 2,605 | $ | 190,144 | |||||||||||||||||||
Investment in equity method investees | $ | — | $ | 6,118 | $ | 6,118 | $ | — | $ | 6,118 | |||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 18, 2022 | |
| 2020 | Feb 12, 2021 | |
| 2019 | Feb 14, 2020 | |
| 2018 | Feb 15, 2019 | |
| 2017 | Feb 16, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 22, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.