NextEra Energy(NEE) - 2025 Q1 - Quarterly Report

Financial Performance - Operating revenues for Q1 2025 were $6,247 million, an increase of 9$5,731 million in Q1 2024[28]. - Net income attributable to NextEra Energy (NEE) for Q1 2025 was $833 million, down 63$2,268 million in Q1 2024[28]. - Earnings per share attributable to NEE decreased to $0.41 in Q1 2025 from$1.11 in Q1 2024[28]. - Total operating expenses increased to $4,027 million in Q1 2025, up 7$3,776 million in Q1 2024[28]. - Comprehensive income attributable to NEE for Q1 2025 was $845 million, down from$2,253 million in Q1 2024[30]. - For the three months ended March 31, 2025, operating revenues increased to $3,997 million, up from$3,834 million in the same period of 2024, representing a growth of 4.3%[42]. - Net income for the three months ended March 31, 2025, was $1,316 million, compared to$1,172 million for the same period in 2024, reflecting an increase of 12.3%[42]. - NEE's net income attributable to the company for Q1 2025 was $833 million, a decrease from$2,268 million in Q1 2024[123]. - Basic earnings per share for NEE was $0.41 in Q1 2025, down from$1.11 in Q1 2024[123]. Cash Flow and Liquidity - Cash flows from operating activities for Q1 2025 were $2,769 million, a decrease from$3,077 million in Q1 2024[35]. - The company had cash and cash equivalents of $2,550 million at the end of Q1 2025, an increase from$2,213 million at the end of Q1 2024[35]. - NEE's cash equivalents and restricted cash equivalents totaled $677 million for equity securities and$101 million for FPL equity securities as of December 31, 2024[94]. - NEE's total sources of cash for Q1 2025 were $13,208 million, while total uses of cash were$12,060 million, resulting in a net increase of $1,148 million[199]. - As of March 31, 2025, NEE's total net available liquidity was approximately$18.4 billion, with $4,484 million from FPL and$13,965 million from NEECH[202][203]. Assets and Liabilities - Total assets as of March 31, 2025, were $194,264 million, compared to$190,144 million as of December 31, 2024[33]. - Total liabilities increased to $133,898 million as of March 31, 2025, from$129,283 million at the end of 2024[33]. - The total current liabilities for NEE as of March 31, 2025, were $22,861 million, compared to$25,355 million at the end of 2024, showing a decrease of about 9.8%[214]. - The total noncurrent liabilities for NEE were $111,037 million as of March 31, 2025, compared to$103,928 million at the end of 2024, reflecting an increase of about 6.8%[214]. - Total derivative liabilities were reported at $3,850 million as of March 31, 2025, compared to$3,081 million at the end of 2024, indicating a significant increase[72][76]. Capital Expenditures - Capital expenditures for the three months ended March 31, 2025, were $2,341 million, slightly higher than$2,237 million in the same period of 2024[48]. - Total capital expenditures for the period were $7,942 million, compared to$9,711 million in the prior year, indicating a reduction of approximately 18.2%[201]. - Estimated capital expenditures for 2025 through 2029 total approximately $47.49 billion, with$6.31 billion in 2025 alone[138]. - New generation capital expenditures are projected at $15.8 billion, while existing generation expenditures are estimated at$5.68 billion[138]. - Transmission and distribution capital expenditures are expected to reach $20.63 billion over the same period[138]. Shareholder Equity - NEE's total shareholder's equity increased to$44.292 billion as of March 31, 2025, up from $43.076 billion at December 31, 2024[50]. - FPL's retained earnings rose to$16.051 billion as of March 31, 2025, compared to $14.835 billion at December 31, 2024, reflecting an increase of 8.2$2,681 million, an increase from $2,653 million as of December 31, 2024[72][76]. - The net fair value of commodity contracts for NEE was$2,527 million as of March 31, 2025, reflecting a decrease from $2,125 million at the end of 2024[72][76]. - NEE's total derivative assets and liabilities reflect the company's ongoing engagement in commodity trading and risk management strategies[72][76]. - The fair value of NEE's other investments, primarily debt securities, was$2,059 million at March 31, 2025, consistent with the previous quarter[225]. Legal and Regulatory Matters - NEE is involved in ongoing legal proceedings, including a shareholder class action lawsuit with unspecified damages[155]. - The company is vigorously defending against an antitrust lawsuit seeking $350 million in damages, which could be tripled if monopolization is found[157]. - The Florida Supreme Court is currently reviewing an appeal regarding FPL's 2021 rate agreement, with oral arguments held in October 2024[127]. Taxation - The effective income tax rate for NEE for the three months ended March 31, 2025, was impacted by unfavorable changes in the fair value of interest rate derivative instruments and the impairment charge related to XPLR[109]. - NEE's effective income tax rate for Q1 2025 was approximately 914$57 million[174]. - NEE's effective income tax rate is influenced by production tax credits (PTCs) and investment tax credits (ITCs), which can significantly affect the overall tax rate depending on pretax income or loss[110].