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FLORIDA POWER & LIGHT CO

For the period ended Jun 30, 2025. Filed Jul 23, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Jul 23, 2025

NEE$86.95-1.5%Stored close · as of Nov 6, 2026
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

CommissionFileNumberExact name of registrants as specified in theircharters, address of principal executive offices andregistrants' telephone numberIRS EmployerIdentificationNumber
1-8841NEXTERA ENERGY, INC.59-2449419
2-27612FLORIDA POWER & LIGHT COMPANY59-0247775

700 Universe Boulevard

Juno Beach, Florida 33408

(561)694-4000

State or other jurisdiction of incorporation or organization: Florida

Securities registered pursuant to Section 12(b) of the Act:

RegistrantsTitle of each classTrading Symbol(s)Name of each exchangeon which registered
NextEra Energy, Inc.Common Stock, $0.01 Par ValueNEENew York Stock Exchange
6.926% Corporate UnitsNEE.PRRNew York Stock Exchange
7.299% Corporate UnitsNEE.PRSNew York Stock Exchange
7.234% Corporate UnitsNEE.PRTNew York Stock Exchange
Florida Power & Light CompanyNone

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) have been subject to such filing requirements for the past 90 days.

NextEra Energy, Inc. Yes ☑ No ☐ Florida Power & Light Company Yes ☑ No ☐

Indicate by check mark whether the registrants have submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.

NextEra Energy, Inc. Yes ☑ No ☐ Florida Power & Light Company Yes ☑ No ☐

Indicate by check mark whether the registrants are a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.

NextEra Energy, Inc. Large Accelerated Filer ☑ Accelerated Filer☐ Non-Accelerated Filer☐ Smaller Reporting Company☐ Emerging Growth Company☐

Florida Power & Light Company Large Accelerated Filer☐ Accelerated Filer☐ Non-Accelerated Filer ☑ Smaller Reporting Company☐ Emerging Growth Company☐

If an emerging growth company, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Securities Exchange Act of 1934. ☐

Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes☐ No☑

Number of shares of NextEra Energy, Inc. common stock, $0.01 par value, outstanding at June 30, 2025:2,059,292,588

Number of shares of Florida Power & Light Company common stock, without par value, outstanding at June 30, 2025, all of which were held, beneficially and of record, by NextEra Energy, Inc.:1,000

This combined Form 10-Q represents separate filings by NextEra Energy, Inc. and Florida Power & Light Company. Information contained herein relating to an individual registrant is filed by that registrant on its own behalf. Florida Power & Light Company makes no representations as to the information relating to NextEra Energy, Inc.'s other operations.

Florida Power & Light Company meets the conditions set forth in General Instruction H.(1)(a) and (b) of Form 10-Q and is therefore filing this Form with the reduced disclosure format.

DEFINITIONS

Acronyms and defined terms used in the text include the following:

TermMeaning
2021 rate agreementDecember 2021 FPSC final order approving a stipulation and settlement between FPL and several intervenors in FPL's base rate proceeding
2024 Form 10-KNextEra Energy, Inc.'s and Florida Power & Light Company's Annual Report on Form 10-K for the year ended December 31, 2024
AFUDCallowance for funds used during construction
AFUDC – equityequity component of AFUDC
AOCIaccumulated other comprehensive income (loss)
CSCS agreementamended and restated cash sweep and credit support agreement
Duane ArnoldDuane Arnold Energy Center
FERCU.S. Federal Energy Regulatory Commission
FPLFlorida Power & Light Company
FPSCFlorida Public Service Commission
fuel clausefuel and purchased power cost recovery clause, as established by the FPSC
GAAPgenerally accepted accounting principles in the U.S.
ITCinvestment tax credit
kWhkilowatt-hour(s)
Management's DiscussionItem 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
MMBtuOne million British thermal units
MWmegawatt(s)
MWhmegawatt-hour(s)
NEENextEra Energy, Inc.
NEECHNextEra Energy Capital Holdings, Inc.
NEERan operating segment comprised of NextEra Energy Resources and NEET
NEETNextEra Energy Transmission, LLC
net generationnet ownership interest in plant(s) generation
NextEra Energy ResourcesNextEra Energy Resources, LLC
Note __Note __ to condensed consolidated financial statements
NRCU.S. Nuclear Regulatory Commission
O&M expensesother operations and maintenance expenses in the condensed consolidated statements of income
OCIother comprehensive income
OTCover-the-counter
OTTIother than temporary impairment or other than temporarily impaired
PTCproduction tax credit
regulatory ROEreturn on common equity as determined for regulatory purposes
clean energy tax creditsproduction tax credits and investment tax credits collectively
SeabrookSeabrook Station
SECU.S. Securities and Exchange Commission
XPLRXPLR Infrastructure, LP (formerly known as NextEra Energy Partners, LP)
XPLR OpCoXPLR Infrastructure Operating Partners, LP (formerly known as NextEra Energy Operating Partners, LP), a subsidiary of XPLR
U.S.United States of America
VIEvariable interest entity

NEE, FPL, NEECH, NextEra Energy Resources and NEET each has subsidiaries and affiliates with names that may include NextEra Energy, FPL, NextEra Energy Resources, NextEra Energy Transmission, NextEra, FPL Group, FPL Energy, FPLE and similar references. For convenience and simplicity, in this report the terms NEE, FPL, NEECH, NextEra Energy Resources, NEET and NEER are sometimes used as abbreviated references to specific subsidiaries, affiliates or groups of subsidiaries or affiliates. The precise meaning depends on the context.

TABLE OF CONTENTS

Page No.
Definitions2
Forward-Looking Statements4
PART I – FINANCIAL INFORMATION
Item 1.Financial Statements7
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations41
Item 3.Quantitative and Qualitative Disclosures About Market Risk54
Item 4.Controls and Procedures54
PART II – OTHER INFORMATION
Item 1.Legal Proceedings55
Item 1A.Risk Factors55
Item 2.Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities55
Item 5.Other Information55
Item 6.Exhibits56
Signatures57
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.