| Equity |
Equity Earnings Per Share – The reconciliation of NEE's basic and diluted earnings per share attributable to NEE is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | (millions, except per share amounts) | | | | | | | | | | Numerator – net income attributable to NEE | | $ | 4,775 | | | $ | 2,438 | | | $ | 10,102 | | | $ | 5,300 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Denominator: | | | | | | | | | Weighted-average number of common shares outstanding – basic | | 2,089.2 | | | 2,064.6 | | | 2,085.1 | | | 2,059.0 | | Equity units, stock options, performance share awards, restricted stock and exchangeable notes(a) | | 8.4 | | | 6.0 | | | 9.3 | | | 5.3 | | Weighted-average number of common shares outstanding – assuming dilution | | 2,097.6 | | | 2,070.6 | | | 2,094.4 | | | 2,064.3 | | | Earnings per share attributable to NEE: | | | | | | | | | | Basic | | $ | 2.29 | | | $ | 1.18 | | | $ | 4.84 | | | $ | 2.57 | | | Assuming dilution | | $ | 2.28 | | | $ | 1.18 | | | $ | 4.82 | | | $ | 2.57 | |
——————————————— (a)Calculated primarily using the treasury stock method. Performance share awards are included in diluted weighted-average number of common shares outstanding based upon what would be issued if the end of the reporting period was the end of the term of the award.
Common shares issuable pursuant to equity units, stock options, performance share awards and/or exchangeable notes, as well as restricted stock which were not included in the denominator above due to their antidilutive effect were approximately 64.0 million and 49.7 million for the three months ended September 30, 2026 and 2025, respectively, and 37.1 million and 65.0 million for the nine months ended September 30, 2026 and 2025, respectively.
ATM Program – NEE has an at-the-market equity issuance program (ATM program), which was established on December 31, 2025, pursuant to which NEE may issue, from time to time, up to $4 billion of its common shares. During the three and nine months ended September 30, 2026, NEE issued approximately 11.0 million common shares under the ATM program for gross proceeds of $938 million. Fees related to the ATM program totaled approximately $7 million during the three and nine months ended September 30, 2026. Accumulated Other Comprehensive Income (Loss) – The components of AOCI, net of tax, are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated Other Comprehensive Income (Loss) | | | Net Unrealized Gains (Losses) on Cash Flow Hedges | | Net Unrealized Gains (Losses) on Available for Sale Securities | | Defined Benefit Pension and Other Benefits Plans | | Net Unrealized Gains (Losses) on Foreign Currency Translation | | Other Comprehensive Income (Loss) Related to Equity Method Investees | | Total | | | (millions) | | | Three Months Ended September 30, 2026 | | | | | | | | | | | | | | Balances, June 30, 2026 | $ | 20 | | | $ | (20) | | | $ | 33 | | | $ | (92) | | | $ | 11 | | | $ | (48) | | | Other comprehensive loss before reclassifications | — | | | (65) | | | — | | | (1) | | | — | | | (66) | | | | Amounts reclassified from AOCI | — | | | 1 | | (a) | — | | | — | | | — | | | 1 | | | | Net other comprehensive loss | — | | | (64) | | | — | | | (1) | | | — | | | (65) | | | | | | | | | | | | | | | | | Balances, September 30, 2026 | $ | 20 | | | $ | (84) | | | $ | 33 | | | $ | (93) | | | $ | 11 | | | $ | (113) | | | | | | | | | | | | | | | |
——————————————— (a)Reclassified to gains on disposal of investments and other property – net in NEE's condensed consolidated statements of income.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated Other Comprehensive Income (Loss) | | | Net Unrealized Gains (Losses) on Cash Flow Hedges | | Net Unrealized Gains (Losses) on Available for Sale Securities | | Defined Benefit Pension and Other Benefits Plans | | Net Unrealized Gains (Losses) on Foreign Currency Translation | | Other Comprehensive Income (Loss) Related to Equity Method Investees | | Total | | | (millions) | | | Nine Months Ended September 30, 2026 | | | | | | | | | | | | | Balances, December 31, 2025 | $ | 19 | | | $ | — | | | $ | 33 | | | $ | (72) | | | $ | 11 | | | $ | (9) | | | Other comprehensive loss before reclassifications | — | | | (87) | | | — | | | (21) | | | — | | | (108) | | | | Amounts reclassified from AOCI | 1 | | (a) | 3 | | (b) | — | | | — | | | — | | | 4 | | | | Net other comprehensive income (loss) | 1 | | | (84) | | | — | | | (21) | | | — | | | (104) | | | | | | | | | | | | | | | | | Balances, September 30, 2026 | $ | 20 | | | $ | (84) | | | $ | 33 | | | $ | (93) | | | $ | 11 | | | $ | (113) | | | | | | | | | | | | | | | |
——————————————— (a)Reclassified to interest expense in NEE's condensed consolidated statements of income. See Note 2 – Income Statement Impact of Derivative Instruments. (b)Reclassified to gains on disposal of investments and other property – net in NEE's condensed consolidated statements of income.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated Other Comprehensive Income (Loss) | | Net Unrealized Gains (Losses) on Cash Flow Hedges | | Net Unrealized Gains (Losses) on Available for Sale Securities | | Defined Benefit Pension and Other Benefits Plans | | Net Unrealized Gains (Losses) on Foreign Currency Translation | | Other Comprehensive Income (Loss) Related to Equity Method Investees | | Total | | (millions) | | Three Months Ended September 30, 2025 | | | Balances, June 30, 2025 | $ | 24 | | | $ | (15) | | | $ | (19) | | | $ | (68) | | | $ | 8 | | | $ | (70) | | | Other comprehensive income (loss) before reclassifications | — | | | 10 | | | — | | | (13) | | | — | | | (3) | | | Amounts reclassified from AOCI | — | | | 1 | | (a) | — | | | — | | | — | | | 1 | | | Net other comprehensive income (loss) | — | | | 11 | | | — | | | (13) | | | — | | | (2) | | | | | | | | | | | | | | | Balances, September 30, 2025 | $ | 24 | | | $ | (4) | | | $ | (19) | | | $ | (81) | | | $ | 8 | | | $ | (72) | | | | | | | | | | | | | |
——————————————— (a)Reclassified to gains on disposal of investments and other property – net in NEE's condensed consolidated statements of income. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated Other Comprehensive Income (Loss) | | Net Unrealized Gains (Losses) on Cash Flow Hedges | | Net Unrealized Gains (Losses) on Available for Sale Securities | | Defined Benefit Pension and Other Benefits Plans | | Net Unrealized Gains (Losses) on Foreign Currency Translation | | Other Comprehensive Income (Loss) Related to Equity Method Investees | | Total | | (millions) | | Nine Months Ended September 30, 2025 | | Balances, December 31, 2024 | $ | 23 | | | $ | (37) | | | $ | (19) | | | $ | (101) | | | $ | 8 | | | $ | (126) | | Other comprehensive income before reclassifications | — | | | 28 | | | — | | | 20 | | | — | | | 48 | | | Amounts reclassified from AOCI | 1 | | (a) | 5 | | (b) | — | | | — | | | — | | | 6 | | Net other comprehensive income | 1 | | | 33 | | | — | | | 20 | | | — | | | 54 | | | | | | | | | | | | | | | Balances, September 30, 2025 | $ | 24 | | | $ | (4) | | | $ | (19) | | | $ | (81) | | | $ | 8 | | | $ | (72) | | | | | | | | | | | | | |
——————————————— (a)Reclassified to interest expense in NEE's condensed consolidated statements of income. See Note 2 – Income Statement Impact of Derivative Instruments. (b)Reclassified to gains on disposal of investments and other property – net in NEE's condensed consolidated statements of income.
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