v3.26.3
Income Taxes (Tables)
 9 Months Ended
Sep. 30, 2026
Income Tax Disclosure [Abstract]  
Reconciliation Between the Effective Income Tax Rates and the Applicable Statutory Rate A reconciliation of the income tax expense (benefit) and effective income tax rates based on the statutory U.S. federal income tax rate is as follows:
NEE
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(millions, except for percentages)
Income taxes at U.S. statutory rate of 21%
$1,056 21.0 %$396 21.0 %$1,841 21.0 %$674 21.0 %
Increases (reductions) resulting from:
State income taxes – net of federal income tax benefit
227 4.5 71 3.7 318 3.6 134 4.2 
Nontaxable or nondeductible items:
Taxes attributable to noncontrolling interests86 1.7 64 3.4 299 3.4 223 6.9 
Amortization of deferred regulatory credit(16)(0.3)(43)(2.3)(52)(0.6)(126)(3.9)
Other – net
— — 7 0.4 (27)(0.3)(11)(0.3)
Clean energy tax credits(a)
(668)(13.3)(734)(38.9)(2,287)(26.1)(1,922)(59.9)
Valuation adjustments
47 0.9 31 1.7 109 1.2 82 2.5 
Other adjustments – net
(70)(1.3)(42)(2.3)(112)(1.2)(81)(2.5)
Income tax expense (benefit) and effective tax rate$662 13.2 %$(250)(13.3)%$89 1.0 %$(1,027)(32.0)%
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(a)For the three and nine months ended September 30, 2026, includes the impact from ITC amortization utilized as part of FPL's RSM. See Note 11 – Rate Regulation.
FPL
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(millions, except for percentages)
Income taxes at U.S. statutory rate of 21%
$409 21.0 %$318 21.0 %$1,034 21.0 %$942 21.0 %
Increases (reductions) resulting from:
State income taxes – net of federal income tax benefit
83 4.3 63 4.2 211 4.3 192 4.3 
Clean energy tax credits(a)
(148)(7.6)(248)(16.4)(769)(15.6)(528)(11.8)
Amortization of deferred regulatory credit(16)(0.8)(43)(2.8)(42)(0.9)(126)(2.8)
Other adjustments – net
1 — (38)(2.6)(2)— (49)(1.1)
Income tax expense and effective tax rate$329 16.9 %$52 3.4 %$432 8.8 %$431 9.6 %
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(a)For the three and nine months ended September 30, 2026, includes the impact from ITC amortization utilized as part of the RSM. See Note 11 – Rate Regulation.