v3.26.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Long-term debt issuances and borrowings
Significant long-term debt issuances and borrowings during the nine months ended September 30, 2026 were as follows:
Principal Amount
Interest Rate(a)
Maturity Date
(millions)
FPL:
   First mortgage bonds$2,250 5.125%–5.900%2036–2066
NEECH:
   Debentures – fixed$1,300 4.40%–5.85%2031–2056
Euro denominated debentures – fixed(b)
$1,549 2.989%–3.624%

2030–2034
   Debentures, related to NEE's equity units$2,300 4.00%2031–2034
Euro denominated junior subordinated debentures – fixed(b)(c)
$2,067 4.20%–
4.75%

2056
Junior subordinated debentures – fixed$600 6.50%2086
Junior subordinated debentures – fixed(d)
$3,750 6.000%–6.625%2056–2066
Australian dollar denominated subordinated debt(b)
$931 
Variable(e)

2056
NEER:
Senior secured limited-recourse debt – fixed$372 6.59%

2033
Senior secured limited-recourse debt – variable$1,606 
Variable(f)
2029
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(a)Interest rates based on the currency in which the related debt is denominated.
(b)Foreign currency swaps have been entered into with respect to these debt issuances. See Note 2.
(c)Two series of Euro denominated junior subordinated debentures were issued in February 2026. One series will initially bear interest at 4.20% until February 26, 2032, and thereafter will bear interest based on an underlying Euro index plus a specified margin, reset every five years; such margin will increase on February 26, 2037 and February 26, 2052. The second series will initially bear interest at 4.75% until February 26, 2036, and thereafter will bear interest at a rate based on an underlying Euro index plus a specified margin, to be reset every five years.
(d)Three series of junior subordinated debentures were issued in June 2026 and will initially bear interest at 6.000% until October 1, 2031, 6.200% until October 1, 2036 and 6.625% until October 1, 2046, respectively, and thereafter each series will bear interest at a rate based on an underlying index plus a specified margin, to be reset every five years, provided that the interest rates will not reset below the respective initial interest rates.
(e)Two series of Australian dollar (AUD) denominated subordinated debt were issued in September 2026. One series will initially bear interest at 7.484% until September 1, 2036, and thereafter will bear interest based on an underlying AUD index plus a specified margin. The second series will initially bear interest based on an underlying AUD index plus a specified margin with additional interest rate step-ups on September 1, 2036 and December 1, 2051.
(f)Variable rate based on an underlying index plus a specified margin.