Form 11-K
Table of Contents

 

 

 

LOGO

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 11-K

 

 

 

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2017

OR

 

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

Commission File Number 1-8841

 

 

NextEra Energy, Inc. Employee Retirement Savings Plan

(Full title of the plan)

NextEra Energy, Inc.

(Name of issuer of the securities held pursuant to the plan)

700 Universe Boulevard

Juno Beach, Florida 33408

(Address of principal executive office)

 

 

 


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

FINANCIAL STATEMENTS

DECEMBER 31, 2017 AND 2016

TABLE OF CONTENTS

 

     Page No.  

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

     1  

FINANCIAL STATEMENTS

  

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER  31, 2017 AND 2016

     2-3  

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2017

     4  

NOTES TO FINANCIAL STATEMENTS

     5  

SUPPLEMENTAL SCHEDULE

  

SCHEDULE H Line 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

     13  

SIGNATURE

     23  

EXHIBIT INDEX

     24  

EXHIBIT 23(a) – CONSENT OF CROWE HORWATH LLP

  


Table of Contents

LOGO

   

Crowe Horwath LLP

   

Independent Member Crowe Horwath International

Report of Independent Registered Public Accounting Firm

Participants and the Employee Benefit Plans

Administrative Committee

NextEra Energy, Inc. Employee Retirement Savings Plan

Juno Beach, Florida

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of NextEra Energy, Inc. Employee Retirement Savings Plan (the “Plan”) as of December 31, 2017 and 2016, the related statement of changes in net assets available for benefits for the year ended December 31, 2017, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017 and 2016, and the changes in net assets available for benefits for the year ended December 31, 2017, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting in accordance with the standards of the PCAOB. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion in accordance with the standards of the PCAOB.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Information

The supplemental Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of NextEra Energy, Inc. Employee Retirement Savings Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information presented in the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated in all material respects in relation to the financial statements as a whole.

 

LOGO

Crowe Horwath LLP

We have served as the Plan’s auditor since 2007.

Columbus, Ohio

June 21, 2018

 

1


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2017 AND 2016

 

 

     December 31, 2017  
     Participant-
Directed
     Nonparticipant-
Directed
     Total  

ASSETS

        

Investments, at fair value (see Note 6)

        

Registered investment companies

   $ 426,956,812      $ 10,270,951      $ 437,227,763  

Collective trust funds

     1,615,240,260        —          1,615,240,260  

Common stock other than NextEra Energy, Inc. common stock

     369,418,704        —          369,418,704  

NextEra Energy, Inc. common stock

     505,405,823        1,206,146,958        1,711,552,781  
  

 

 

    

 

 

    

 

 

 

Total investments, at fair value

     2,917,021,599        1,216,417,909        4,133,439,508  

Investments, at contract value (see Note 7)

     281,704,258        —          281,704,258  
  

 

 

    

 

 

    

 

 

 

Total investments

     3,198,725,857        1,216,417,909        4,415,143,766  
  

 

 

    

 

 

    

 

 

 

Receivables

        

Participant loans

     69,958,932        —          69,958,932  

Pending trades due from brokers

     107,183        —          107,183  

Other receivables

     1,481,184        8,326        1,489,510  
  

 

 

    

 

 

    

 

 

 

Total receivables

     71,547,299        8,326        71,555,625  

Non-interest bearing cash

     812,872        —          812,872  
  

 

 

    

 

 

    

 

 

 

Total assets

     3,271,086,028        1,216,426,235        4,487,512,263  
  

 

 

    

 

 

    

 

 

 

LIABILITIES

        

Pending trades due to brokers

     1,097,092        —          1,097,092  

Other payables

     1,347,177        187,524        1,534,701  
  

 

 

    

 

 

    

 

 

 

Total liabilities

     2,444,269        187,524        2,631,793  
  

 

 

    

 

 

    

 

 

 

NET ASSETS AVAILABLE FOR BENEFITS

   $ 3,268,641,759      $ 1,216,238,711      $ 4,484,880,470  
  

 

 

    

 

 

    

 

 

 

The accompanying Notes to Financial Statements are an integral part of these statements.

 

2


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2017 AND 2016

 

     December 31, 2016  
     Participant-
Directed
     Nonparticipant-
Directed
     Total  

ASSETS

        

Investments, at fair value (see Note 6)

        

Registered investment companies

   $ 371,045,386      $ 15,269,859      $ 386,315,245  

Collective trust funds

     1,412,853,250        —          1,412,853,250  

Common stock other than NextEra Energy, Inc. common stock

     270,387,389        —          270,387,389  

NextEra Energy, Inc. common stock

     424,506,346        961,994,763        1,386,501,109  
  

 

 

    

 

 

    

 

 

 

Total investments, at fair value

     2,478,792,371        977,264,622        3,456,056,993  

Investments, at contract value (see Note 7)

     321,574,692        —          321,574,692  
  

 

 

    

 

 

    

 

 

 

Total investments

     2,800,367,063        977,264,622        3,777,631,685  
  

 

 

    

 

 

    

 

 

 

Receivables

        

Participant loans

     70,823,295        —          70,823,295  

Pending trades due from brokers

     921,820        —          921,820  

Other receivables

     177,479        220,887        398,366  
  

 

 

    

 

 

    

 

 

 

Total receivables

     71,922,594        220,887        72,143,481  

Non-interest bearing cash

     354,442        —          354,442  
  

 

 

    

 

 

    

 

 

 

Total assets

     2,872,644,099        977,485,509        3,850,129,608  
  

 

 

    

 

 

    

 

 

 

LIABILITIES

        

Pending trades due to brokers

     664,816        —          664,816  

Other payables

     1,401,526        124,931        1,526,457  
  

 

 

    

 

 

    

 

 

 

Total liabilities

     2,066,342        124,931        2,191,273  
  

 

 

    

 

 

    

 

 

 

NET ASSETS AVAILABLE FOR BENEFITS

   $ 2,870,577,757      $ 977,360,578      $ 3,847,938,335  
  

 

 

    

 

 

    

 

 

 

The accompanying Notes to Financial Statements are an integral part of these statements.

 

3


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

FOR THE YEAR ENDED DECEMBER 31, 2017

 

     Participant-
Directed
     Nonparticipant-
Directed
     Total  

Additions to net assets attributed to:

        

Net appreciation in fair value of investments

   $ 499,344,379      $ 291,905,794      $ 791,250,173  

Interest income

     9,216,460        —          9,216,460  

Dividend income

     28,871,112        31,079,148        59,950,260  
  

 

 

    

 

 

    

 

 

 

Net investment income

     537,431,951        322,984,942        860,416,893  

Contributions

        

Participant

     150,564,636        —          150,564,636  

Employer—NextEra Energy, Inc. common stock

     —          52,564,753        52,564,753  
  

 

 

    

 

 

    

 

 

 

Total contributions

     150,564,636        52,564,753        203,129,389  

Transfer from/to nonparticipant-directed investments

     49,343,871        1,700,000        51,043,871  
  

 

 

    

 

 

    

 

 

 

Total net additions

     737,340,458        377,249,695        1,114,590,153  

Deductions from net assets attributed to:

        

Benefit payments to participants and beneficiaries

     333,717,790        88,653,060        422,370,850  

Management and administrative expenses

     3,858,666        374,631        4,233,297  

Transfer from/to participant directed investments

     1,700,000        49,343,871        51,043,871  
  

 

 

    

 

 

    

 

 

 

Total deductions

     339,276,456        138,371,562        477,648,018  

Net increase

   $ 398,064,002      $ 238,878,133      $ 636,942,135  

Net assets available for benefits at December 31, 2016

   $ 2,870,577,757      $ 977,360,578      $ 3,847,938,335  
  

 

 

    

 

 

    

 

 

 

Net assets available for benefits at December 31, 2017

   $ 3,268,641,759      $ 1,216,238,711      $ 4,484,880,470  
  

 

 

    

 

 

    

 

 

 

The accompanying Notes to Financial Statements are an integral part of these statements.

 

4


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2017 AND 2016

 

1. Description of the Plan

The following description of the NextEra Energy, Inc. Employee Retirement Savings Plan (the Plan) provides only general information. Participating employees (Participants) should refer to the Summary Plan Description available in their employee handbook (as updated periodically through Summaries of Material Modifications) for a more complete description of the Plan.

General

The Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The Plan includes a cash or deferred arrangement (Pretax Option) permitted by Section 401(k) of the Internal Revenue Code of 1986, as amended (the Code). The Pretax Option permits Participants to defer federal income taxes on their contributions (Pretax Contributions) until such contributions are distributed from the Plan.

Employees of NextEra Energy, Inc. (the Company/Employer) and its subsidiaries, with the exception of employees in the International Brotherhood of Electrical Workers local 2150 (IBEW 2150) at NextEra Energy Point Beach, LLC (NextEra Energy Point Beach), are eligible to participate in the Plan on the first day of the month coincident with the completion of one full month of service with the Company or certain of its subsidiaries or on the first day of any payroll period thereafter. Employees at NextEra Energy Point Beach represented by IBEW 2150 are eligible to participate in the Plan on the first day of employment or on the first day of any payroll period thereafter. Effective January 1, 2018, employees at NextEra Energy Point Beach represented by IBEW 2150 are eligible to participate in the Plan on the first day of the month coincident with the completion of one full month of service with the Company or on the first day of any payroll period thereafter.

The Plan contains employee stock ownership plan (ESOP) provisions. The ESOP is a stock bonus plan within the meaning of U.S. Treasury Regulation Section 1.401-1(b)(1)(iii) which is qualified under Section 401(a) of the Code and is designed to invest primarily in the common stock, par value $.01 per share, of the Company (Company Stock).

The Plan has a Dividend Payout Program which enables Participants to choose how their dividends on certain shares of Company Stock held in the Plan are to be paid. The options available to Participants include reinvestment of dividends in Company Stock or distribution of dividends in cash.

Trustee

Fidelity Management Trust Company (Trustee) administers the NextEra Energy, Inc. Employee Retirement Savings Plan Trust (Trust) established to hold the assets and liabilities of the Plan.

Administration of the Plan

The Plan is intended to qualify as a participant-directed account plan under Section 404(c) of ERISA. The Employee Benefit Plans Administrative Committee (as appointed by the Employee Benefits Advisory Committee of the Company) is the named fiduciary responsible for the general operation and administration of the Plan (but not management or control of Plan assets), and the Employee Benefit Plans Investment Committee (as appointed by the Employee Benefits Advisory Committee of the Company) is the named investment fiduciary, but is not directly responsible for the management and control of the Plan assets. The Employee Benefits Advisory Committee acts on behalf of the Company as the Plan Sponsor, as defined by ERISA. Fidelity Workspace Services LLC (Fidelity) provides recordkeeping services with respect to the Plan.

Employee Contributions

The Plan allows for combined pretax and/or Roth after-tax contributions by eligible employees up to the limit under    Code    Section 402(g), in whole percentages of up to 50% of their eligible earnings, as defined by the Plan (50% Limit). In addition, eligible employees age 50 or older who contributed the maximum annual amount allowable under the pretax and/or Roth after-tax options in the Plan have the option of contributing an additional pretax catch-up contribution or Roth catch-up contribution in accordance with Code Section 414(v), up to the 50% Limit. The Plan also allows for traditional after-tax contributions up to the 50% Limit.

 

5


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2017 AND 2016

 

The table below presents the Roth after-tax and Roth catch-up contributions, subject to the 50% Limit, for the various eligible employee Participant groups covered by the Plan as of December 31, 2017 and 2016.

 

   

Participant Group *

 

  

Roth Contribution effective dates (includes after-tax and
catch-up contributions)

 

   

NextEra Energy, Inc. and subsidiaries non-bargaining and certain bargaining unit employees not listed below

 

  

January 1, 2016

 

   

Employees represented by the NextEra Energy Seabrook, LLC

(NextEra Energy Seabrook) bargaining unit

 

  

January 1, 2017

 

   

FPL bargaining unit employees and NextEra Energy Point Beach employees represented by IBEW 2150

 

  

January 1, 2018

 

 

*

NextEra Energy Duane Arnold, LLC (NextEra Energy Duane Arnold) bargaining unit employees represented by IBEW 204 are not eligible for these provisions.

The table below presents the auto enrollment Pretax Contributions for the various groups of eligible employees unless such employees revoke or modify their Pretax Contribution election within 60 days of their date of hire or rehire.

 

   

Participant Group *

 

  

Deemed Pretax Contribution

 

   

NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees not listed below

 

  

3% for employees hired or rehired on or after January 1, 2015

 

   

NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150

 

  

3% for employees hired or rehired on or after January 1, 2008

 

   

NextEra Energy Seabrook bargaining unit employees

 

  

3% for employees hired or rehired on or after March 1, 2017

 

   

NextEra Energy Maine Operating Services, LLC (NextEra Energy Maine) bargaining unit employees

 

  

3% for employees hired or rehired on or after July 1, 2015

 

   

FPL bargaining unit employees

 

  

3% for employees hired or rehired on or after January 1, 2018

 

 

*

NextEra Energy Duane Arnold bargaining unit employees represented by IBEW 204 are not eligible for these provisions.

Participants can elect to invest in any combination of different investment options offered under the Plan. Participants may change their investment elections daily, subject to Fidelity’s excessive trading policy and the Plan’s limitations on investments in Company Stock.

 

6


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2017 AND 2016

 

Employer Contributions

The Company provides matching contributions through the ESOP in the form of Company Stock. The table below presents the Employer contribution formula for the various Participant groups covered by the Plan as of December 31, 2017 and 2016.

 

   

Participant Group

 

  

Benefit

 

   

NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees not listed below

 

  

100% on the first 3% of employee contributions

50% on the next 3% of employee contributions

25% on the next 1% of employee contributions

 

   

NextEra Energy Seabrook non-bargaining employees hired prior to November 1, 2002

 

NextEra Energy Seabrook bargaining unit employees hired prior to January 1, 2004

 

  

100% on the first 3% of employee contributions

 

   

NextEra Energy Duane Arnold non-bargaining employees hired prior to January 27, 2006

 

NextEra Energy Point Beach non-bargaining employees hired prior to September 28, 2007

 

NextEra Energy Duane Arnold bargaining unit employees and NextEra Energy Point Beach bargaining unit employees (not represented by IBEW 2150)

 

  

100% on the first 3% of employee contributions

50% on the next 2% of employee contributions

 

   

NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 participating through December 31, 2017, subsequently they will be included in the NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees group above

 

  

100% on the first 1% of employee contributions

50% on the next 6% of employee contributions

 

Forfeitures

Forfeitures of non-vested Company matching contributions due to termination of employment may be used to restore amounts previously forfeited or to reduce the amount of future Company matching contributions to the Plan or may be applied to administrative expenses. Forfeitures used to reduce Employer contributions in 2017 totaled $1,700,000 and forfeitures applied to administrative fees in 2017 totaled $444,505. At December 31, 2017 and 2016, the balance of the forfeiture account was $133,798 and $91,874, respectively.

 

7


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2017 AND 2016

 

Vesting

Participants are immediately 100% vested in employee contributions.

The table below presents the vesting schedule for Company matching contributions of the various Participant groups covered by the Plan as of December 31, 2017 and 2016.

 

   

Participant Group

 

  

Vesting of Company Match

 

   

NextEra Energy, Inc. and subsidiaries non-bargaining and bargaining unit employees, not listed below

 

  

Company matching contributions are vested 20% for each year of service and are fully vested upon a Participant attaining five years of service

 

   

NextEra Energy Seabrook non-bargaining employees hired prior to November 1, 2002

 

NextEra Energy Duane Arnold non-bargaining employees hired prior to January 27, 2006

 

NextEra Energy Duane Arnold bargaining unit employees existing on the date of acquisition of the Duane Arnold Energy Center (January 27, 2006)

 

NextEra Energy Point Beach non-bargaining employees hired prior to September 28, 2007

 

NextEra Energy Point Beach bargaining unit employees existing on the date of acquisition of the Point Beach Nuclear Plant (September 28, 2007)

 

NextEra Energy Seabrook bargaining unit employees hired prior to January 1, 2009

 

  

Company matching contributions are fully vested immediately

 

   

NextEra Energy Maine non-bargaining employees hired prior to August 1, 2006

 

NextEra Energy Maine bargaining unit employees hired prior to May 15, 2008

 

  

Company matching contributions are fully vested after attaining six months of service

 

   

NextEra Energy Point Beach bargaining unit employees represented by IBEW 2150 hired on or after September 28, 2007 but prior to January 1, 2018

 

  

Company matching contributions are fully vested after attaining one year of service

 

Upon death, total and permanent disability or certain other circumstances an employee may become 100% vested. In addition, in certain circumstances, such as acquisitions or divestitures, the Plan may recognize previous service for vesting purposes.

Participant Loans

Each Participant may borrow from his or her account a minimum of $1,000 up to a maximum of $50,000 or 50% of the vested value of the account (reduced by any outstanding loans), whichever is less. The vested portion of a Participant’s account will be pledged as security for the loan. Participants may not have more than two loans outstanding from the Plan at any time. Participant loans have a fixed annual interest rate based on the prime rate which is updated quarterly. Loans outstanding at December 31, 2017 carry an interest rate of 3.25% to 4.25% and mature between 2018 and 2023.

Benefit Payments and Withdrawals

Withdrawals by Participants from their accounts during their employment are permitted with certain penalties and restrictions. The penalties may limit a Participant’s contributions to the Plan for varying periods following a withdrawal. Upon termination from employment, Participants are eligible to receive a distribution of the full value of their vested account balance. Terminated Participants can elect to receive a full payment, partial payments, or installments over a period of up to ten years.

 

8


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2017 AND 2016

 

Administrative Expenses

The Company pays a portion of the administrative expenses of the Plan. Additionally, Plan participants pay a fee of $61 per year to cover some of the administrative expenses of the Plan. All other expenses are paid directly by the Plan through forfeitures or revenue sharing that the Plan receives either directly or indirectly from certain of the Plan’s investment options. Any fees paid directly by the Company are not included in the financial statements.

Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, Participants will become 100% vested in their accounts.

2. Summary of Significant Accounting Policies

Basis of Accounting

The financial statements of the Plan are prepared under the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.

Use of Estimates

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

Investment Valuation

The Plan’s investments are reported at fair value, except for the fully benefit-responsive investment contracts, which are reported at contract value. Fair value measurement guidance emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and sets out a fair value hierarchy intended to disclose information about the relative reliability of fair value measurements, with the highest priority being unadjusted quoted prices in active markets for identical assets or liabilities.

In some cases, a valuation approach used to measure fair value may include inputs from multiple levels of fair value hierarchy. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.

The Plan recognizes transfers into and out of fair value hierarchy levels at the beginning of the period.

The following are descriptions of the valuation methods and assumptions used by the Plan to estimate the fair values of investments held by the Plan.

Registered investment companies (mutual funds), Company Stock, and common stock: Investments in shares of registered investment companies are valued at quoted market prices in active markets (Level 1 inputs), which represent the net asset value of such shares at year-end. Investments in shares of actively traded money market mutual funds are stated at the net asset value of such shares held at year-end (Level 1 inputs). Company Stock and other publicly traded common stock are valued at their quoted market price in active markets (Level 1 inputs). Certain common stock is valued using significant unobservable inputs (Level 3 inputs).

Collective trust funds: The fair values of participation units held in collective trust funds are based on the net asset value per unit share reported by the fund manager as of the financial statement dates and on recent transaction prices (Level 2 inputs). Each collective trust fund provides for daily redemptions reported at net asset value per unit share, with no advance notice requirement.

The following is a description of the valuation methods and assumptions used by the Plan to report the contract value of the fully benefit-responsive synthetic guaranteed investment contracts held by the Plan.

Investment contracts (wrapper contracts): The Managed Income Fund holds fully benefit-responsive investment contracts (wrapper contracts) (see Note 7 – Managed Income Fund) with various insurance companies and financial institutions in order to provide Participants with a stable, fixed-rate of return on investments and protection of principal from changes in market interest rates. The crediting interest rate resets monthly and is based on an agreed-upon formula with the issuers, but cannot be less than zero. The key factors that influence future rates could include the following: the level of market interest rates, the difference between the fully benefit-responsive investment contracts’ book and market values, the amount and timing of Participant contributions, transfers and withdrawals into/out of the fully benefit-responsive investment contracts, and the duration of the underlying investments backing the fully benefit-responsive investment contracts.

 

9


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2017 AND 2016

 

The wrapper contracts within the Managed Income Fund are a synthetic guaranteed investment contract which is valued at the contract value of the underlying investments of the contracts, primarily debt securities and wrapper contracts. The underlying investments in the Managed Income Fund include U.S. Treasury notes, asset-backed and mortgage-backed securities, corporate bonds and government agency notes. The contracts are unallocated in nature and are fully benefit-responsive. Therefore, net assets available for benefits reflects the contract value of the Managed Income Fund. There are no reserves against contract values (which represent contributions made under the contract, plus earnings, less withdrawals and administrative expenses) for credit risk of the contract issuer or otherwise. Wrapper contracts provide the Managed Income Fund with the ability to use contract value accounting to maintain a constant $1.00 unit price. Wrapper contracts also provide for the payment of participant-directed withdrawals and exchanges at contract value (principal and interest accrued to date) during the term of the wrapper contracts. However, withdrawals prompted by certain events (e.g., layoffs, retirement during specified early retirement window periods, spin-offs, sale of a division, facility closings, plan terminations, partial plan terminations, changes in law or regulation, material breach of contract responsibilities, loss of the Plan’s qualified status, etc.) may be paid at fair value which may be less than contract value. Currently, management believes that the occurrence of an event that would cause the Plan to be paid at less than contract value is not probable. A contract issuer may terminate a wrapper contract at any time; however, if the fair value of the contract is less than the contract value, the contract issuer can either hold the contract until the fair value and contract value are equal or make up the difference between the two. If the funds in the wrapper contracts are needed for benefit payments prior to contract maturity, they may be withdrawn without penalty.

Investment Income Recognition

Purchases and sales of investment securities are recorded on the trade date. Gains or losses on sales of investment securities are determined using the average cost method of the securities. The carrying amounts of securities held in Participants’ accounts are adjusted daily. Unrealized appreciation or depreciation is recorded to recognize changes in fair value. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.

Payment of Benefits

Benefits distributed to Participants are recorded when paid.

Participant Loans

Participant loans are reported at their unpaid principal balance plus any accrued but unpaid interest, with no allowance for credit losses, as repayments of principal and interest are received through payroll deductions and the notes are collateralized by the Participants’ account balances in the Plan.

3. Risks and Uncertainties

Investment securities, in general, are exposed to various risks, such as interest rate, credit, liquidity and overall market volatility, which could result in changes in the value of such securities. Due to the level of risk associated with certain types of investment securities, it is at least reasonably possible that changes in the values of the investment securities will occur in the near term and that such changes could materially affect Participants’ account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits.

4. Nonparticipant-Directed Investments

The “Nonparticipant-Directed” net assets of the Plan and changes therein represent Employer contributions into the ESOP component of the Plan. Participants have the option to reinvest nonparticipant-directed shares daily among any of the other investment options available under the Plan.

5. Parties-In-Interest Transactions

Parties-in-interest are defined under Department of Labor regulations as any fiduciary of the Plan, any party rendering service to the Plan, the Employer, and certain others.

Dividend income earned by the Plan includes dividends on Company Stock. In accordance with the Plan and the Company’s Dividend Reinvestment and Direct Stock Purchase Plan in which the Trustee participates, participants may elect to reinvest dividends in Company Stock or receive dividends in cash. During 2017, dividends on shares of Company Stock held in Participants’ accounts totaled $44,327,677.

 

10


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2017 AND 2016

 

During 2017, employer contributions of Company Stock credited to Participant’s accounts totaled $52,564,753 which equates to 377,879 shares. At December 31, 2017 and 2016, the number of shares of Company Stock held in Participants’ accounts totaled 10,958,146 and 11,606,405, respectively, with a fair value of $1,711,552,781 and $1,386,501,109, respectively. Realized gains on shares of Company Stock sold by Participants during the Plan year totaled $31,377,131.

Certain fees were paid by the Plan to the managers of the investments held in the Plan and certain Plan investments are managed by an affiliate of the Trustee or investment advisors of the Plan. These transactions qualify as party-in-interest transactions. The Plan also pays for various administrative expenses to service providers which constitute party-in-interest transactions. Additionally, the Plan reimburses the Company for a portion of the costs incurred in the administration of the Plan which are considered party-in-interest transactions. Participant loans held by the Plan of $69,958,932 and $70,823,295 at December 31, 2017 and December 31, 2016, respectively, are also considered party-in-interest transactions.

6. Investments

The following table sets forth by level, within the fair value hierarchy, the Plan’s assets that are measured at fair value on a recurring basis as of December 31, 2017:

 

    Fair Value Measurements
At December 31, 2017 using
 
    Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
    Significant
Other
Observable Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
    Total  

Participant-directed investments:

       

Registered investment companies

  $ 426,956,812     $ —       $ —       $ 426,956,812  

Collective trust funds

    —         1,615,240,260       —         1,615,240,260  

Common stock other than NextEra Energy, Inc. common stock

    366,789,979       —         2,628,725       369,418,704  

NextEra Energy, Inc. common stock

    505,405,823       —         —         505,405,823  
 

 

 

   

 

 

   

 

 

   

 

 

 

Total participant-directed investments

    1,299,152,614       1,615,240,260       2,628,725       2,917,021,599  

Nonparticipant-directed investments:

       

NextEra Energy, Inc. common stock

    1,206,146,958       —         —         1,206,146,958  

Registered investment companies

    10,270,951       —         —         10,270,951  
 

 

 

   

 

 

   

 

 

   

 

 

 

Total nonparticipant-directed investments

    1,216,417,909       —         —         1,216,417,909  

Total investments in the fair value heirarchy

    2,515,570,523       1,615,240,260       2,628,725       4,133,439,508  
 

 

 

   

 

 

   

 

 

   

 

 

 

Investments at contract value

          281,704,258  
       

 

 

 

Total investments

        $ 4,415,143,766  
       

 

 

 

During the 2017 Plan year there were no transfers between Level 1 and Level 2 investments.

 

11


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2017 AND 2016

 

The following table sets forth by level, within the fair value hierarchy, the Plan’s assets that are measured at fair value on a recurring basis as of December 31, 2016:

 

    Fair Value Measurements
At December 31, 2016 using
 
    Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
    Significant
Other
Observable Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
    Total  

Participant-directed investments:

       

Registered investment companies

  $ 371,045,386     $ —       $ —       $ 371,045,386  

Collective trust funds

    —         1,412,853,250       —         1,412,853,250  

Common stock other than NextEra Energy, Inc. common stock

    267,670,134       —         2,717,255       270,387,389  

NextEra Energy, Inc. common stock

    424,506,346       —         —         424,506,346  
 

 

 

   

 

 

   

 

 

   

 

 

 

Total participant-directed investments

    1,063,221,866       1,412,853,250       2,717,255       2,478,792,371  

Nonparticipant-directed investments:

       

NextEra Energy, Inc. common stock

    961,994,763       —         —         961,994,763  

Registered investment companies

    15,269,859       —         —         15,269,859  
 

 

 

   

 

 

   

 

 

   

 

 

 

Total nonparticipant-directed investments

    977,264,622       —         —         977,264,622  

Total investments in the fair value heirarchy

    2,040,486,488       1,412,853,250       2,717,255       3,456,056,993  
 

 

 

   

 

 

   

 

 

   

 

 

 

Investments at contract value

          321,574,692  
       

 

 

 

Total investments

        $ 3,777,631,685  
       

 

 

 

During the 2016 Plan year there were no transfers between Level 1 and Level 2 investments.

7. Managed Income Fund

The contract value of fully benefit-responsive investment contracts was $281,704,258 and $321,574,692, respectively, at December 31, 2017 and 2016. The contract value of fully benefit-responsive investment contracts includes a government short-term collective investment trust in the amount of $3,417,857 and $708,147, respectively, at December 31, 2017 and 2016. The contract value of fully benefit-responsive investment contracts excludes short term investments in registered investment companies that are not covered by the wrapper contracts. These investments are reported at fair value in the amount of $4,206,125 and $2,774,449, respectively, at December 31, 2017 and 2016.

8. Income Taxes

On June 17, 2015, the Internal Revenue Service (IRS) made a favorable determination that the Plan meets the requirements of Section 401(a) of the Code. The Plan has been amended since receiving the favorable determination letter and due to expiry of the determination letter program, no new letter is expected. The Company and the plan administrator believe that the Plan is currently designed and operated in material compliance with the applicable requirements of the Code and that the Plan continues to be tax-exempt. The Trust established under the Plan will generally be exempt from federal income taxes under Section 501(a) of the Code; Company contributions paid to the Trust under the Plan will be allowable federal income tax deductions of the Company subject to the conditions and limitations of Section 404 of the Code; and the Plan meets the requirements of Section 401(k) of the Code allowing Pretax Contributions to be exempt from federal income tax at the time such contributions are made, provided that in operation the Plan and Trust meet the applicable provisions of the Code. Participants are given the option to receive dividend distributions on Company Stock in cash; all vested dividends earned by Participants are deductible by the Company.

Company matching contributions to the Plan on a Participant’s behalf, the Participant’s Pretax Contributions, and the earnings thereon generally are not taxable to the Participant until such Company matching contributions, Pretax Contributions, and earnings thereon are distributed or withdrawn. Participant’s Roth after-tax contributions and the earnings thereon generally are not taxable to the Participant if made as a qualified distribution. Earnings on traditional after-tax contributions are not taxable to the Participant until distributed or withdrawn. A loan from a Participant’s account generally will not represent a taxable distribution if the loan is repaid in a timely manner and does not exceed certain limitations.

Accounting principles generally accepted in the United States of America require plan administrators to evaluate tax positions taken by the Plan. The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2017 and 2016, respectively, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing authorities, and an IRS audit is currently in progress for 2014 and 2015. The plan administrator believes it is no longer subject to income tax examinations by the IRS for years prior to 2014.

 

12


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
    

(d) Cost

   (e)
Current value
 
   Common Stock:         
   AETNA INC      5,102      **      920,350  
   ALASKA AIR GROUP INC      21,454      **      1,577,084  
   ALEXION PHARMACEUTICALS INC      20,308      **      2,428,634  
   ALIBABA GROUP HLD LTD SPON ADR      39,300      **      6,776,499  
   ALNYLAM PHARMACEUTICALS INC      15,883      **      2,017,935  
   ALPHABET INC CL C      6,542      **      6,845,548  
   ALPHABET INC CL A      11,600      **      12,219,439  
   AMAZON.COM INC      16,900      **      19,764,042  
   AMERICAN AIRLINES GROUP INC      75,898      **      3,948,972  
   AMERICAN WATER WRKS COMPANY      14,900      **      1,363,201  
   ANTHEM INC      15,153      **      3,409,577  
   APPLE INC      59,900      **      10,136,877  
   BECTON DICKINSON & CO      26,326      **      5,635,344  
   BIOGEN INC      8,715      **      2,776,338  
   BOEING CO      39,839      **      11,748,919  
   CIGNA CORP      34,363      **      6,978,782  
   CENTENE CORP      8,114      **      818,540  
   CROWN CASTLE INTL CORP      29,100      **      3,230,391  
   DANAHER CORP      26,100      **      2,422,602  
   DOLLAR GENERAL CORP      51,500      **      4,790,015  
   ELECTRONIC ARTS INC      13,900      **      1,460,334  
   FACEBOOK INC A      70,649      **      12,466,723  
   FORTIVE CORP      18,150      **      1,313,153  
   GLOBAL PAYMENTS INC      24,953      **      2,501,289  
   HILTON INC      47,665      **      3,806,527  
   HOME DEPOT INC      8,200      **      1,554,146  
   HUMANA INC      7,341      **      1,821,082  
   INCYTE CORP      12,522      **      1,185,959  
   INTERCONTINENTAL EXCHANGE INC      49,900      **      3,520,944  
   DROPBOX INC CL A      2,648      **      37,708  
   DROPBOX INC PC PERP C PP      13,265      **      204,546  
   INTUIT INC      24,436      **      3,855,512  
   INTUITIVE SURGICAL INC      17,170      **      6,266,020  
   MERCK & CO INC NEW      37,900      **      2,132,633  
   MICROSOFT CORP      179,400      **      15,345,876  
   MORGAN STANLEY      78,389      **      4,113,071  
   NETFLIX INC      10,100      **      1,938,796  
   NIKE INC CL B      13,900      **      869,445  
   NVIDIA CORP      800      **      154,800  
   AIRBNB PC D PP      6,435      **      606,113  
   AIRBNB INC SER E PC PP      2,935      **      276,448  
   UBER TECHNOLOGIES 8% PC E PP      10,648      **      371,828  
   UBER TECHNOLOGIES SER G PP      6,243      **      218,006  
   PAYPAL HLDGS INC      64,300      **      4,733,766  
   PHILIP MORRIS INTL INC      27,155      **      2,868,926  
   FLIPKART LTD SER G PC PP      3,046      **      360,565  

 

13


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
    

(d) Cost

   (e)
Current value
 
   THE BOOKING HOLDINGS INC      6,830      **      11,868,764  
   RED HAT INC      28,200      **      3,386,820  
   ROSS STORES INC      32,000      **      2,568,000  
   SALESFORCE.COM INC      47,100      **      4,815,033  
   SCHWAB CHARLES CORP      28,466      **      1,462,298  
   SEMPRA ENERGY      14,400      **      1,539,648  
   SERVICENOW INC      20,315      **      2,648,873  
   STRYKER CORP      25,929      **      4,014,846  
   TD AMERITRADE HOLDING CORP      43,364      **      2,217,201  
   T-MOBILE US INC      39,800      **      2,527,698  
   TENCENT HOLDINGS LTD UNS ADR      66,800      **      3,468,256  
   TESLA INC      7,120      **      2,216,812  
   UNITEDHEALTH GROUP INC      36,500      **      8,046,790  
   VERTEX PHARMACEUTICALS INC      32,983      **      4,942,832  
   VISA INC CL A      104,000      **      11,858,080  
   VMWARE INC CL A      25,763      **      3,228,619  
   WORKDAY INC CL A      13,000      **      1,322,620  
   XILINX INC      27,553      **      1,857,623  
   YUM BRANDS INC      25,200      **      2,056,572  
   MAGIC LEAP INC PC SER C PP      10,937      **      295,299  
   ASML HLDG NV (NY REG SHS) NEW      6,400      **      1,112,448  
   WILLIS TOWERS WATSON PLC      12,760      **      1,922,804  
   FLIPKART LTD SER A PC PP      208      **      18,115  
   FLIPKART LTD SER C PC PP      358      **      31,179  
   FLIPKART LTD SER E PC PP      670      **      58,353  
   FLIPKART LTD ORDNRY SHARES P/P      596      **      51,908  
   RESTAURANT BRANDS INTRNTNL INC      34,300      **      2,108,764  
   SHOPIFY INC CL A (US)      12,318      **      1,244,118  
   WASTE CONNECTIONS INC (US)      36,350      **      2,578,669  
   MAGIC LEAP INC PC SER D PP      3,654      **      98,658  
   ABIOMED INC      24,443      **      4,580,863  
   AFFILIATED MANAGERS GRP INC      20,215      **      4,149,129  
   ATHENAHEALTH INC      22,077      **      2,937,124  
   BIO TECHNE CORP      42,371      **      5,489,163  
   BIOVERATIV INC W/I      67,666      **      3,648,551  
   BLACKBAUD INC      49,686      **      4,694,830  
   CARS.COM INC      105,841      **      3,052,454  
   CORE LABORATORIES NV      22,698      **      2,486,566  
   DUNKIN BRANDS GROUP INC      79,734      **      5,140,451  
   EQUITY COMMONWEALTH      176,844      **      5,395,510  
   EXPEDITORS INTL OF WASH INC      47,609      **      3,079,826  
   GRACO INC      87,441      **      3,954,082  
   J2 GLOBAL INC      55,309      **      4,149,834  
   LENDINGCLUB CORP      439,804      **      1,816,391  
   LENDINGTREE INC      17,658      **      6,011,666  
   LIBERTY TRIPADVISOR HOLDG A WI      244,592      **      2,305,280  
   MSCI INC      31,106      **      3,936,153  
   OUTFRONT MEDIA INC      145,474      **      3,374,997  
   PAYCOM SOFTWARE INC      49,336      **      3,963,161  
   REDFIN CORP      66,032      **      2,068,122  
   SHUTTERSTOCK INC      77,753      **      3,345,712  
   UBIQUITI NETWORKS INC      50,372      **      3,577,419  
   WISDOMTREE INVESTMENTS INC      138,532      **      1,738,577  
   YELP INC      91,026      **      3,819,451  
   ZEBRA TECHNOLOGIES CORP CL A      33,000      **      3,425,400  

 

14


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
    

(d) Cost

   (e)
Current value
 
   LOGITECH INTL SA REG      143,927      **      4,859,355  
   WIX.COM LTD      53,130      **      3,057,632  

*

   NEXTERA ENERGY, INC. (PARTICIPANT DIRECTED)      3,235,840      **      505,405,823  

*

   NEXTERA ENERGY, INC. (NON-PARTICIPANT DIRECTED)      7,722,306      193,508,439      1,206,146,958  
        

 

  

 

 

 
   Total Common Stock       193,508,439      2,080,971,485  
        

 

  

 

 

 
   Collective Trust Funds:         

*

   PIMCO DIVERSIFIED REAL ASSET TRUST      775,254      **      10,799,291  

*

   BLACKROCK RUSSELL 2000 INDEX FUND M      452,346      **      9,179,901  

*

   ARISTOTLE SMALL CAP EQUITY COLLECTIVE TRUST      7,980,986      **      94,095,827  

*

   BTC RUSSELL 3000 M      5,531,635      **      80,351,972  

*

   BTC US DEBT INDEX W      2,580,531      **      55,871,247  

*

   BTC ACWI EX US IMI M      3,080,138      **      43,725,953  

*

   BTC EQUITY INDEX T      1,785,598      **      188,943,074  

*

   COHEN & STEERS US REALTY SHARES B      4,618,830      **      60,783,797  

*

   FIDELITY LOW-PRICED STOCK POOL      6,227,528      **      89,240,470  

*

   LS CORE PL FXINC D      4,652,558      **      67,834,294  

*

   FISHER INVESTMENTS EMERGING MARKETS EQUITY COLLECTIVE TRUST      1,392,864      **      18,915,097  

*

   VANGUARD TARGET RETIREMENT      925,188      **      47,434,366  

*

   VANGUARD TARGET 2015      2,450,303      **      125,798,542  

*

   VANGUARD TARGET 2025      5,825,404      **      310,901,816  

*

   VANGUARD TARGET 2035      4,513,982      **      247,817,626  

*

   VANGUARD TARGET 2045      2,242,536      **      127,510,585  

*

   VANGUARD TARGET 2055      408,350      **      28,470,135  

*

   VANGUARD TARGET 2065      8,349      **      187,762  

*

   SSBK GOVERNMENT STIF FUND (US LARGE CAP GROWTH FUND)      3,645,735      **      3,645,735  

*

   SSBK GOVERNMENT STIF FUND (EQUITY INCOME TRP FUND)      55,552      **      62,383  

*

   SSBK STIF FUND (SMALL MID CAP GROWTH FUND)      3,670,387      **      3,670,387  

*

   SSBK GOVERNMENT STIF FUND (MANAGED INCOME FUND)      3,417,857      **      3,417,857  
        

 

  

 

 

 
   Total Collective Trust Funds       —        1,618,658,117  
        

 

  

 

 

 
   Registered Investment Companies:         

*

   EATON VANCE FLOATING-RATE & HIGH INCOME FUND R6      1,782,643      **      15,794,213  

*

   VANGUARD PRIME CAP CORE FUND      4,600,567      **      123,755,261  

*

   VANGUARD VMMR-FED MONEY MARKET      82,043,388      **      82,043,388  

*

   JPM EQUITY INCOME R6 FUND      5,684,643      **      98,912,790  

*

   AF EUROPAC GROWTH R6      1,812,484      **      101,752,844  

*

   FIDELITY INSTITUTIONAL CASH PORTFOLIO (NEXTERA ENERGY, INC. PARTICIPANT DIRECTED)      492,191      **      492,191  

*

   FIDELITY INSTITUTIONAL CASH PORTFOLIO (NEXTERA ENERGY, INC. NON-PARTICIPANT DIRECTED)      10,270,951      10,270,951      10,270,951  

*

   FIDELITY INSTITUTIONAL CASH PORTFOLIO (MANAGED INCOME FUND)      4,206,125      **      4,206,125  
        

 

  

 

 

 
   Total Registered Investment Companies       10,270,951      437,227,763  
        

 

  

 

 

 
   U.S. Treasury Notes:         
   USTN 1.375% 03/31/20      21,371,000      **      21,193,447  
   USTN 1.375% 04/30/20      3,621,000      **      3,584,259  
   USTN 1.75% 12/31/20      33,214,000      **      32,983,804  

 

15


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
    

(d) Cost

   (e)
Current value
 
   USTN 0.75% 07/15/19      4,588,000      **      4,526,295  
   USTN 1.25% 10/31/21      6,928,000      **      6,726,058  
   UST NOTE 1.875% 03/31/22      10,816,000      **      10,745,151  
   UST NOTES 1.625% 07/31/20      10,898,000      **      10,887,092  
   USTN 1.5% 4/15/20      5,021,000      **      4,989,854  
   USTN 1.5% 05/15/20      5,068,000      **      5,028,774  
   USTN 1.625% 08/31/22      3,418,000      **      3,351,665  
        

 

  

 

 

 
   Total U.S. Treasury Notes       —        104,016,399  
        

 

  

 

 

 
   Government Agency Notes:         
   FNMA 1.5% 11/30/20      3,658,000      **      3,608,700  
   FNMA 1% 02/26/19      2,363,000      **      2,348,303  
   FNMA 0.875% 08/02/19      953,000      **      941,080  
   FNMA 1% 10/24/19      3,282,000      **      3,234,211  
   NYC TFA (PIT) 2.05% 08/01/23      165,000      **      160,931  
   NYC TFA (PIT) 2.85% 02/01/24      155,000      **      157,103  
   NYS UDC 2.67% 03/15/23      775,000      **      778,311  
   NYS UDC 2.7% 03/15/23      630,000      **      629,118  
        

 

  

 

 

 
   Total Government Agency Notes       —        11,857,757  
        

 

  

 

 

 
   Mortgage Backed Securities:         
   BACM 2016-UB10 A2 2.723% 06/49      415,000      **      416,523  
   COMM 2015-CR22 A2 2.856% 03/48      214,000      **      216,629  
   COMM 15-CR23 ASB 3.257% 05/48      198,000      **      203,220  
   COMM 15-CR26 ASB 3.373% 10/48      163,000      **      168,579  
   CSMC 16-NXSR A1 1.9708% 12/49      143,943      **      142,734  
   CSAIL 17-CX9 A2 3.0538% 09/50      460,000      **      467,406  
   COMM 2012-LC4 A4 3.288% 12/44      680,000      **      694,175  
   COMM 2012-CR3 ASB 2.372% 11/45      406,308      **      406,115  
   COMM 2012-CR3 A3 2.822% 10/45      319,000      **      320,292  
   COMM 2013-CR6 A4 3.101% 03/46      358,000      **      363,822  
   COMM 2013-CR7 A4 3.213% 03/46      505,000      **      516,597  
   COMM 2013-CR8 A5 3.612% 06/46      209,000      **      217,635  
   COMM 2014-CR17 A2 3.012% 05/47      490,000      **      496,149  
   COMM 2014-CR18 A2 2.924% 07/47      380,000      **      382,769  
   CSAIL 2015-C2 ASB 3.2241% 6/57      169,000      **      172,514  
   CSAIL 2016-C7 A1 1.5786% 11/49      218,870      **      216,264  
   CGCMT 2016-P6 A1 1.884% 12/49      74,679      **      74,048  
   CGCMT 2012-GC8 A4 3.024% 9/45      425,000      **      431,947  
   CGCMT 13-GC11 A4 3.093% 04/46      82,000      **      83,389  
   CGCMT 2017-P7 A2 3.199% 04/50      286,000      **      292,828  
   CGCMT 2016-P4 A2 2.446% 07/49      154,000      **      153,827  
   FHLG 15YR 4.50% 8/18 #E98688      8,331      **      8,415  
   FHLG 15YR 4.50% 9/18 #E99205      3,786      **      3,828  
   FHLG 15YR 4.50% 10/18 #E99833      4,685      **      4,737  
   FHLM ARM 3.53% 4/40 #1B4657      27,799      **      29,138  
   FHLM ARM 3.58% 4/40 #1B4702      29,131      **      30,664  
   FHLG 7.50% 7/34 #G02115      98,859      **      115,005  
   FHLG 15YR 5.00% 3/19 #G13052      11,430      **      11,577  
   FHLG 15YR 5.00% 4/20 #G13598      19,753      **      20,099  
   FHLG 15YR 3.5% 08/30#G15273      471,188      **      488,663  
   FHLG 25YR 5.50% 7/35 #G05815      40,538      **      45,012  
   FHLM ARM 4.941% 11/35 #1J1228      20,489      **      21,090  
   FHLG 20YR 3.5% 06/32#C91456      666,535      **      695,097  
   FHLM ARM 3.717% 05/41#1B8124      19,812      **      20,825  
   FHLM ARM 3.224% 4/41#1B8179      15,080      **      15,818  

 

16


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
    

(d) Cost

   (e)
Current value
 
  

FHLM ARM 3.464% 5/1/41#1B8304

     15,740      **      16,537  
  

FHLM ARM 3.627% 6/1/41#1B8372

     17,907      **      18,822  
  

FHLM ARM 3.283 6/1/41

     18,343      **      19,238  
  

FHLM ARM 2.98% 8/41 #1B8533

     42,556      **      45,006  
  

FHLM ARM 3.07% 9/41 #1B8608

     25,216      **      26,381  
  

FHLM ARM 3.242% 9/1/41#1B8659

     15,031      **      15,733  
  

FHLG 5.50% 3/34 #G01665

     58,809      **      65,360  
  

FHLG 15YR 5.50% 4/18 #G11389

     173      **      174  
  

FHLG 15YR 4.00% 9/25 #E02787

     115,512      **      120,541  
  

FHLG 15YR 4.00% 4/26 #E02867

     61,723      **      64,641  
  

FHLG 15YR 4.50% 11/18 #B10931

     3,370      **      3,414  
  

FHLM ARM 4.199% 8/36 #848185

     16,696      **      17,548  
  

FHLM AR 12M+187.9 10/42#849255

     73,973      **      77,407  
  

FHLG 15YR 3% 05/29#J29409

     1,140,696      **      1,167,990  
  

FHLG 5.50% 5/34 #Z40042

     444,719      **      493,323  
  

FNR 2013-16 GP 3% 03/33

     401,107      **      408,077  
  

FNR 2014-83 P 3% 06/43

     542,351      **      548,215  
  

FNR 2015-32 PA 3% 4/44

     437,620      **      442,580  
  

FNR 2015-28 P 2.5% 5/45

     1,136,551      **      1,128,011  
  

FNR 2015-28 JE 3% 05/45

     928,060      **      941,305  
  

FNR 2015-42 LE 3% 06/45

     675,762      **      685,571  
  

FNR 2015-49 LE 3% 07/45

     485,516      **      492,145  
  

FNR 2015-54 GA 2.5% 07/45

     602,993      **      601,461  
  

FNR 2016-19 AH 3% 04/46

     537,896      **      545,443  
  

FNR 2016-26 CG 3% 05/46

     1,351,028      **      1,369,455  
  

FNR 2016-27 HK 3% 01/41

     704,406      **      713,660  
  

FNR 2016-27 KG 3% 01/40

     353,599      **      358,126  
  

FNR 2016-37 BK 3% 06/46

     1,422,733      **      1,442,192  
  

FNR 2016-34 GH 3% 06/46

     1,355,608      **      1,374,814  
  

FNR 2016-105 PA 3.5% 4/45

     686,964      **      709,927  
  

FNR 2016-100 P 3.5% 11/44

     1,061,200      **      1,096,823  
  

FNR 2017-11 HA 3.5% 12/45

     1,080,566      **      1,118,895  
  

FNR 2017-20 AP 3.5% 03/45

     1,161,871      **      1,200,926  
  

FNR 2017-74 PA 3.5% 11/45

     961,933      **      991,223  
  

FNR 2017-97 P 3% 01/47

     689,362      **      697,596  
  

FHR 4046 LA 3% 11/2026

     296,085      **      299,963  
  

FHR 2015-4472 WL 3% 05/45

     453,079      **      459,596  
  

FHR 4656 PA 3.5% 10/45

     712,307      **      737,503  
  

FHR 4683 EA 2.5% 05/47

     964,951      **      963,612  
  

FHR SER 4221 CLS GA 1.4% 7/23

     326,907      **      322,015  
  

FNMA 5.50% 11/34 #310105

     322,196      **      358,162  
  

FNMA ARM 3.228% 7/41#AI3469

     19,968      **      20,927  
  

FNMA ARM 3.01% 8/41 #AI4358

     7,961      **      8,311  
  

FNMA ARM 3.545% 07/41#AI6050

     26,469      **      28,013  
  

FNMA ARM 3.365% 10/41#AI6819

     12,863      **      13,333  
  

FNMA 15YR 3.5% 07/26#AI7819

     36,804      **      38,172  
  

FNMA ARM 09/41#AI9813

     15,652      **      16,508  
  

FNMA ARM 10/41#AJ3399

     6,213      **      6,498  
  

FNMA ARM 2.69% 9/41 #AH5260

     76,381      **      79,252  
  

FNMA ARM 2.57% 10/41 #AH5261

     38,025      **      39,447  
  

FNMA 15YR 3.50% 1/26 #AL1168

     96,121      **      99,739  
  

FNMA 15YR 3.50% 3/27 #AL1746

     435,057      **      451,566  
  

FNMA 20YR 2.5% 01/33#AL2974

     188,008      **      188,194  
  

FNMA 20YR 2.5% 01/33#AL2975

     213,620      **      214,098  
  

FNMA 20YR 2.5% 01/33#AL2976

     125,427      **      125,708  

 

17


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
    

(d) Cost

   (e)
Current value
 
  

FNMA 20YR 2.5% 01/33#AL2982

     151,952      **      152,293  
  

FNMA 15YR 3.5% 10/29#AL5851

     152,273      **      158,718  
  

FNMA 15YR 3.5% 09/29#AL5878

     362,269      **      377,602  
  

FNMA 15YR 4.5% 11/25#AL8242

     251,434      **      264,565  
  

FNMA 15YR 3% 09/31#AL8853

     1,799,885      **      1,843,373  
  

FNMA ARM 06/42#AO2244

     29,656      **      30,694  
  

FNMA 15YR 3.5% 01/27 #AX1909

     167,969      **      174,212  
  

FNMA 6.50% 7/32 #545759

     16,524      **      18,854  
  

FNMA 6.50% 7/32 #545762

     9,667      **      11,027  
  

FNR 2011-26 PA 4.5% 04/41

     312,534      **      331,841  
  

FHR 2010-3645 KP 5% 02/40

     240,038      **      259,682  
  

FNMA ARM 4.68% 11/34 #735011

     30,276      **      31,187  
  

FNMA 6.50% 12/32 #735415

     9,625      **      10,979  
  

FNMA 6.50% 7/35 #745092

     10,649      **      12,196  
  

FNMA ARM 4.53% 12/34 #802852

     26,250      **      27,844  
  

FNMA 6.50% 8/36 #888034

     13,743      **      15,666  
  

FNMA 6.50% 8/36 #888544

     46,032      **      52,578  
  

FNMA ARM 4.21% 5/35 #889946

     42,311      **      44,422  
  

FNMA ARM 4.30% 2/35 #995017

     352,014      **      368,420  
  

FNMA ARM 7/35 #995414

     45,438      **      48,099  
  

FNMA ARM 4.55% 10/35 #995415

     166,789      **      174,761  
  

FNMA ARM 11/36 #995606

     43,869      **      45,783  
  

FNMA ARM 2.61% 4/35 #995609

     17,035      **      17,909  
  

FNMA 10YR 2% 08/23#MA1535

     408,002      **      407,283  
  

FNMA ARM 12/33#AD0066

     16,331      **      16,976  
  

FNMA 6.50% 12/35 #AD0723

     56,061      **      63,934  
  

FNMA ARM 3.47% 3/40 #AD0820

     30,518      **      32,169  
  

FNMA ARM 3.60% 3/40 #AD1555

     38,092      **      40,073  
  

FNMA 6.50% 8/36 #AE0746

     40,961      **      46,769  
  

FNMA ARM 11/40#AE6806

     6,781      **      7,111  
  

GSMS 2012-GC6 A3 3.482% 01/45

     304,849      **      314,526  
  

GSMS 2013-GC10 A4 2.681% 02/46

     131,000      **      130,933  
  

GSMS 2013-GC10 A5 2.943% 02/46

     622,000      **      628,605  
  

GSMS 2012-GCJ7 A4 3.377% 05/45

     995,114      **      1,020,715  
  

GSMS 2012-GCJ9 A3 2.773% 11/45

     468,999      **      471,011  
  

GSMS 15-GC32 AAB 3.513% 7/48

     204,000      **      211,450  
  

GSMS 2015-GC28 AAB 3.206% 2/48

     221,000      **      226,293  
  

GSMS 2016-GS4 A1 1.532% 11/49

     70,989      **      70,142  
  

GSMS 14-GC18 AAB 3.648% 01/47

     89,000      **      92,356  
  

GSMS 14-GC20 AAB 3.655% 04/47

     103,000      **      106,672  

*

  

JPMCC 2015-JP1 A2 3.1438% 1/49

     351,000      **      357,655  

*

  

JPMCC 2012-C6 A3 3.5074 5/45

     213,516      **      220,939  

*

  

JPMCC 2012-C8 A3 2.8291% 10/45

     330,663      **      333,076  

*

  

JPMCC 13-C10 A5 3.1425% 12/47

     542,000      **      553,726  

*

  

JPMBB 14-C22 ASB 3.5036% 09/47

     255,000      **      263,702  

*

  

JPMBB 15-C29 A2 2.8596% 05/48

     310,000      **      313,850  

*

  

JPMCC 16-JP4 A2 2.9343% 12/49

     384,000      **      389,461  

*

  

JPMDB 16-C4 A1 1.4943% 12/49

     1,274,251      **      1,252,358  
  

MSBAM 15-C22 ASB 3.04% 4/15/48

     151,000      **      153,557  
  

MSBAM 2014-C14 A2 2.916% 2/47

     508,258      **      513,150  
  

MSBAM 2013-C7 A4 2.918% 2/46

     451,000      **      455,902  
  

MSBAM 2016-C32 A1 1.819% 12/49

     217,234      **      215,263  
  

MSBAM 2012-C6 A4 2.858% 11/45

     712,000      **      716,878  
  

MSBAM 2013-C8 A4 3.134% 12/48

     516,000      **      526,363  

 

18


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
    

(d) Cost

   (e)
Current value
 
  

MSBAM 2013-C11 A4 CSTR 8/46

     166,000      **      177,533  
  

MSBAM 13-C13 ASB 3.557% 11/46

     420,000      **      434,373  
  

MSBAM 2014-C16 ASB 3.477% 6/47

     333,000      **      343,489  
  

MSBAM 2014-C17 ASB 3.477% 8/47

     436,000      **      449,843  
  

MSBAM 2015-C21 ASB 3.15% 03/48

     88,000      **      89,735  
  

MSBAM 2016-C31 A1 1.555% 11/21

     152,829      **      150,263  
  

UBSBB 2012-C2 A4 3.525 5/63

     343,000      **      355,263  
  

WFRBS 14-C20 ASB 3.638% 05/47

     168,000      **      174,262  
  

WFRBS 2013-C14 A2 2.133% 6/46

     125,171      **      125,387  
  

WFRBS 2013-C14 A5 3.337% 6/46

     189,000      **      194,587  
  

WFRBS 2012-C9 A3 2.87% 11/45

     377,000      **      380,421  
  

WFRBS 2012-C9 ASB 2.445% 11/45

     149,455      **      149,948  
  

WFRBS 2011-C3 A4 4.375% 3/44

     437,000      **      459,521  
  

WFRBS 2012-C7 A2 3.431% 6/45

     271,000      **      279,081  
  

WFRBS 2012-C8 A2 1.881% 8/45

     26      **      26  
  

WFRBS 2013-C11 A5 3.071% 03/45

     1,086,000      **      1,104,603  
  

WFRBS 2013-C12 A4 3.198% 3/48

     151,000      **      154,469  
  

WFRBS 13-C12 ASB 2.838% 03/48

     69,000      **      69,687  
  

WFRBS 13-C16 ASB 3.963% 09/46

     144,000      **      150,154  
  

WFRBS 14-C23 ASB 3.636% 10/57

     201,000      **      209,333  
  

WFCM 2012-LC5 A3 2.918% 10/45

     766,418      **      774,313  
  

WFCM 2012-LC5 ASB 2.528% 10/45

     252,578      **      253,793  
  

WFCM 2013-LC12 A1 1.676% 7/46

     171,519      **      171,558  
  

WFCM 2015-C27 ASB 3.278% 2/48

     354,000      **      362,895  
  

WFCM 2016-C34 A2 2.603% 06/49

     354,000      **      354,577  
  

WFCM 2016-C35 A2 2.495% 07/48

     123,000      **      122,713  
  

WFCM 2016-LC25 1.795% 12/15/59

     200,115      **      198,152  
  

WFCM 2016-C36 A1 1.453% 11/59

     92,581      **      91,419  
  

WFCM 2016-C37 A1 1.944% 12/49

     153,658      **      152,646  
  

WFCM 2016-C37 A2 3.103% 12/49

     268,000      **      272,629  
        

 

  

 

 

 
  

Total Mortgage Backed Securities

      —        54,268,883  
        

 

  

 

 

 
  

Asset Backed Securities:

        
  

AMOT 2017-3 A2 2.04% 6/22

     446,000      **      442,717  
  

ALLYA 2015-1 A3 1.39% 09/19

     141,696      **      141,655  
  

ALLYA 2017-1 A3 1.7% 02/21

     480,000      **      478,125  
  

AMXCA 2017-3 A 1.77% 11/22

     636,000      **      630,857  
  

AMXCA 2017-6 A 2.04% 05/23

     488,000      **      486,092  
  

AMXCA 2017-1 A 1.93% 09/22

     879,000      **      875,705  
  

BACCT 2017-A1 A1 1.95% 08/22

     772,000      **      769,216  
  

BACCT 2017-A2 A2 1.84% 1/23

     678,000      **      671,928  
  

BMWOT 2016-A A3 1.16% 07/20

     441,000      **      437,689  
  

BMWLT 2017-2 A3 2.07% 10/20

     289,000      **      288,394  
  

CPART 17-1A A3 2.05% 03/21

     345,000      **      343,702  
  

COMET 2015-A2 A2 2.08% 03/23

     179,000      **      178,703  
  

COMET 2015-A8 A8 2.05% 08/23

     430,000      **      428,437  
  

COMET 2016-A3 A3 1.34% 04/22

     830,000      **      822,054  
  

COMET 2016-A4 A4 1.33% 6/15/22

     656,000      **      648,242  
  

COMET 2017-A3 A3

     628,000      **      624,687  
  

COMET 2017-A4 A4 1.99% 07/23

     592,000      **      588,782  
  

CARMX 16-4 A3 1.4% 08/21

     570,000      **      564,609  
  

CARMX 2014-4 A3 1.25% 11/19

     63,875      **      63,836  
  

CARMX 2015-3 A3 1.63% 06/20

     205,732      **      205,544  
  

CARMX 2015-1 A3 1.38% 11/19

     98,358      **      98,281  
  

CARMX 2016-2 A3 1.52% 02/21

     333,000      **      331,852  
  

CARMX 2017-4 A3 2.15% 10/22

     244,000      **      243,035  
  

CARMX 2017-3 A3 1.97% 04/22

     236,000      **      234,930  
  

CHAIT 2016-A2 A 1.37% 06/15/21

     813,000      **      805,694  
  

CHAIT 2016-A5 A5 1.27% 07/21

     660,000      **      652,607  

 

19


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
    

(d) Cost

   (e)
Current value
 
  

CCCIT 2014-A6 A6 2.15% 07/21

     1,322,000      **      1,336,475  
  

CCCIT 2016-A1 A1 0% 11/21

     814,000      **      810,171  
  

CCCIT 17-A2 A2 1.74% 01/21

     810,000      **      814,614  
  

CCCIT 2017-A3 A3 1.92% 04/22

     703,000      **      701,764  
  

CCCIT 2017-A8 A8 1.86% 8/8/22

     600,000      **      598,862  
  

CCCIT 2017-A9 A9 1.8% 09/21

     602,000      **      601,599  
  

DCENT 2012-A6 A6 1.67% 01/22

     1,387,000      **      1,380,181  
  

DCENT 2014-A4 A4 2.12% 12/21

     639,000      **      639,908  
  

DCENT 2015-A2 A 1.9% 10/22

     515,000      **      512,388  
  

DCENT 2016-A1 A1 1.64% 07/21

     630,000      **      628,465  
  

DCENT 2016-A3 A3 1.85% 10/23

     440,000      **      434,094  
  

DCENT 2016-A4 A4 1.39% 3/22

     657,000      **      649,341  
  

DCENT 2017-A6 A6 1.88% 2/15/23

     449,000      **      445,445  
  

FITAT 2017-1 A3 1.8% 02/22

     371,000      **      368,649  
  

FORDF 2016-1 A1 1.76% 02/21

     310,000      **      309,201  
  

FORDF 2016-3 A1 1.55% 07/21

     824,000      **      817,168  
  

FORDF 2017-1 A1 2.07% 05/15/22

     374,000      **      372,436  
  

FORDF 2017-2 A1 2.37% 09/22

     595,000      **      593,349  
  

FORDR 14-1 A 2.26% 11/25

     470,000      **      471,427  
  

FORDR 2014-2 A 2.31% 04/26

     1,015,000      **      1,017,538  
  

FORD CRD 16-1 A 2.31% 08/27

     249,000      **      248,430  
  

FORDR 2015-2 A 2.44% 01/27

     327,000      **      328,603  
  

FORDO 2015-C A3 1.41% 02/20

     255,051      **      254,746  
  

FORDO 2016-C A3 1.22% 03/21

     669,000      **      661,892  
  

FORDO 2017-A A3 1.67% 6/21

     573,000      **      569,813  
  

FORDR 2017-1 A 2.62% 8/28

     319,000      **      319,562  
  

FORDO 2016-A A3 2.01% 07/20

     543,644      **      542,194  
  

FORDO 16-B A3 1.33% 10/20

     469,000      **      467,077  
  

GFORT 17-1 A1 2.22% 1/22 144A

     510,000      **      509,184  
  

GMALT 2015-2 A3 1.68% 12/18

     133,631      **      133,674  
  

HAROT 2016-2 A3 1.39% 4/20

     267,074      **      266,357  
  

HAROT 2016-4 A3 1.21% 12/20

     669,000      **      662,565  
  

HAROT 2017-1 A3 1.72% 07/21

     555,000      **      551,666  
  

HUNT AUTO 16-1 A3 1.57% 11/20

     326,000      **      324,892  
  

HART 2015-B A3 1.12% 11/19

     225,606      **      225,129  
  

HART 2016-B A3 1.29% 4/21

     717,000      **      709,794  
  

HART 2015-C A3 1.46% 02/20

     337,105      **      336,634  
  

HFMOT 2016-1A A2 1.81% 03/21

     351,000      **      350,227  
  

HART 2016-A A3 1.56% 09/20

     220,000      **      219,512  
  

MBART 2016-1 A3 1.26% 02/21

     625,000      **      621,042  
  

NMOTR 2016-A A2 1.54% 06/21

     352,000      **      349,269  
  

NAROT 2017-A A3 1.74% 08/21

     628,000      **      624,665  
  

NAROT 2016-B A3 1.32% 01/15/21

     376,000      **      373,621  
  

NAROT 2016-C A3 1.18% 01/21

     586,000      **      580,276  
  

NEF 2005-1 A5 4.74% 10/45

     98,300      **      97,906  
  

SRT 2017-A A3 2.58% 01/21

     574,000      **      572,783  
  

SSTRT 17-2A A3 2.04% 4/21 144A

     358,000      **      355,931  
  

SSTRT 2016-1A A3 1.524% 03/20

     371,000      **      369,612  
  

SSTRT 17-1A A3 1.89% 8/20

     872,000      **      869,772  
  

SYNCT 2015-3 A 1.74% 9/21

     215,000      **      214,902  
  

TAOT 2016-B A3 1.3% 04/20

     288,550      **      287,633  
  

TAOT 2016-C A3 1.14% 08/20

     373,000      **      370,674  
  

TAOT 2017-A A3 1.73% 2/21

     438,000      **      436,076  
  

USAOT 2017-1 A3 1.79% 05/21

     205,000      **      203,961  
  

USAOT 2015-1 A3 1.2% 06/19

     29,696      **      29,700  
  

VZOT 16-1A A 1.42% 01/21

     584,000      **      580,418  
  

VZOT 2016-2A A 1.68% 5/21

     676,000      **      671,722  
  

VZOT 17-2A A 1.92% 12/21

     360,000      **      357,823  
  

VZOT 2017-3A A1A 2.06% 04/22

     600,000      **      597,299  

 

20


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
    

(d) Cost

   (e)
Current value
 
   WOART 2014-B A3 1.14% 01/20      130,161      **      129,986  
   WOLS 2015-A A3 1.54% 10/18      155,462      **      155,542  
   WOART 16-B A3 1.3% 2/22      544,000      **      539,004  
   WOART 2016-A A3 1.77% 09/21      323,000      **      322,241  
        

 

  

 

 

 
   Total Asset Backed Securities       —        42,954,257  
        

 

  

 

 

 
   Corporate Bonds:         
   APPLE INC 2.85% 5/6/21      510,000      **      520,352  
   AUST & NZ BKG NY 2.25% 6/13/19      710,000      **      711,603  
   AUS & NZ BKG 2.125% 8/19/20      398,000      **      397,944  
   BANK OF MONTREAL 1.5% 7/18/19      1,000,000      **      996,983  
   BK OF NOVA SCOTIA 2.05% 6/5/19      1,000,000      **      998,942  
   BANK NOVA SCOTIA 2.8% 07/21/21      500,000      **      510,681  
   BNK OF NOVA SCOTIA 2.7% 3/7/22      640,000      **      645,391  
   BERKSHIRE HATH 1.7% 3/15/19      277,000      **      277,470  
   BERKSHIRE HTHWY INC 2.1% 08/19      1,000,000      **      1,008,366  
   BERKSHIRE HATH 2.2% 3/15/21      244,000      **      244,792  
   BERKSHIRE HATH 2.75% 3/15/23      320,000      **      324,636  
   CANADIAN IMP BANK 2.55% 6/22      926,000      **      920,585  
   CHEVRON CORP NEW 1.961% 03/20      1,555,000      **      1,559,439  
   CHEVRON CORP 2.419% 11/17/20      940,000      **      948,392  
   CISCO SYSTEMS INC 2.125% 3/19      690,000      **      695,612  
   CISCO SYSTEMS 2.45% 6/15/20      1,000,000      **      1,007,566  
   CISCO SYSTEMS 1.85% 9/20/21      490,000      **      483,383  
   COCA-COLA CO 1.15% 04/01/18      760,000      **      761,171  
   COMMONWEALTH NY 2.25% 03/13/19      681,000      **      685,982  
   COMMONWEALTH BK NY 2.3% 9/6/19      650,000      **      655,593  
   COMMWLTH BK ASTL NYB 2.3% 3/20      310,000      **      312,319  
   EXXON MOBIL CORP 2.726% 3/1/23      503,000      **      511,060  
   EXXON MOBIL CORP 2.222% 3/1/21      640,000      **      643,209  
   GENERAL ELEC CO 3.375% 3/11/24      602,000      **      626,374  
   HSBC HOLDINGS 2.95% 5/25/21      1,000,000      **      1,009,723  
   HSBC USA INC 2.25% 06/23/19      1,000,000      **      1,000,352  
   JOHNSON & JOHNSON 2.25% 03/22      2,385,000      **      2,399,325  

*

   JPMORGAN CHASE 1.65% 9/23/19      2,000,000      **      1,991,877  
   MASSMUTUAL 1.55% 10/11/19 144A      2,000,000      **      1,982,751  
   MASSMUTUL GLBL 2.5% 4/22 144A      640,000      **      639,165  
   MERCK & CO INC NEW 1.85% 02/20      1,000,000      **      1,001,618  
   MET LFE GLB 1.55% 9/13/19 144A      1,500,000      **      1,489,750  
   MET LIFE GLOB 2.65% 4/22 144A      950,000      **      955,522  
   MICROSOFT CORP 1.625% 12/06/18      1,000,000      **      999,167  
   MICROSOFT CORP 1.55% 8/8/21      1,000,000      **      979,726  
   MIDAMERICAN ENE 2.4% 03/15/19      750,000      **      758,220  
   NYLIFE GLBL 1.7% 9/14/21 144A      1,000,000      **      976,082  
   NY LFE GLB 2.3% 6/10/22 144A      1,000,000      **      987,210  
   NOVARTIS CAP 2.4% 05/17/22      1,000,000      **      1,000,268  
   ONTARIO PROVINCE 1.25% 06/19      470,000      **      464,415  
   ONTARIO PROVINCE CDA 2.4% 2/22      648,000      **      652,078  
   ONTARIO PROV 4% 10/7/19      2,000,000      **      2,081,027  
   ORACLE CORP 2.25% 10/8/19      1,150,000      **      1,161,037  
   ORACLE CORP 1.9% 09/15/21      660,000      **      653,206  
   PECO ENERGY CO 1.7% 9/30/21      660,000      **      644,750  
   PRICOA GBL 1.45% 9/13/19 144A      497,000      **      491,406  
   PRICOA GLBL 2.45% 9/21/22 144A      448,000      **      446,965  

 

21


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

EIN: 59-2449419 PLAN# 002

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral, par,
or maturity value
   

(d) Cost

   (e)
Current value
 
   PROTECTVE LFE 2.615% 8/22 144A      450,000     **      447,731  
   PROTECTIVE LF 2.161% 9/20 144A      456,000     **      453,613  
   PUBLIC SVC ELEC 2.3% 09/15/18      1,000,000     **      1,007,565  
   PUBLIC SVC ELEC 1.8% 06/01/19      700,000     **      697,488  
   QUEBEC PROVINCE 2.375% 1/31/22      1,234,000     **      1,241,690  
   ROYAL BK OF CDA 2.15% 03/15/19      340,000     **      342,141  
   ROYAL BK CAN GL 2.35% 10/30/20      1,300,000     **      1,304,781  
   ROYAL BANK OF CANA 2.15% 10/20      800,000     **      797,881  
   SAN DIEGO G&E 3% 8/15/21      550,000     **      568,300  
   SCHLUMBERG 2.35% 12/21/18 144A      872,000     **      874,521  
   SHELL INTL FIN BV 2.125% 05/20      468,000     **      468,379  
   SHELL INTL 2.25% 11/10/20      806,000     **      808,292  
   SOUTHERN CA GAS 1.55% 6/15/18      1,000,000     **      998,308  

*

   STATE STREET CRP 1.95% 5/19/21      1,000,000     **      987,743  
   SUMITOMO BKG 2.45% 1/10/19      430,000     **      435,943  
   SUMITOMO BKG 2.25% 07/11/19      500,000     **      505,088  
   TORONTO DOM BK 2.125% 7/02/19      340,000     **      343,521  
   TORONTO DOMINION 2.25% 11/5/19      800,000     **      803,191  
   TORONTO DOM BANK 2.125% 4/7/21      350,000     **      348,369  
   TOTAL CAP CDA L 1.45% 01/15/18      416,000     **      418,685  
   TOTAL CAP INTL 2.125% 01/10/19      700,000     **      707,720  
   TOTAL CAP INTL 2.75% 06/19/21      340,000     **      343,670  
   TOYOTA MOTOR CR 2% 10/24/18      700,000     **      703,478  
   TOYOTA MOTOR CRDIT 2.125% 7/19      500,000     **      504,777  
   TOYOTA MOTOR CR 1.55% 10/18/19      288,000     **      286,316  
   TOYOTA MOTOR CORP 2.6% 1/11/22      780,000     **      793,676  
   US BANK NA CIN 2.125% 10/19      1,451,000     **      1,456,766  
   WELLS FARGO & CO 2.15% 1/15/19      1,392,000     **      1,407,944  
   WELLS FARGO 3% 01/22/21      635,000     **      652,402  
   WELLS FARGO & CO MTN 2.6% 7/20      460,000     **      468,084  
   WESTPAC BANKING 4.875 11/19/19      620,000     **      653,404  
   WESTPAC BANKING 1.6% 08/19/19      650,000     **      646,995  
   WESTPAC BANKING 2.8% 1/11/22      651,000     **      664,137  
       

 

  

 

 

 
   Total Corporate Bonds      —        64,356,084  
       

 

  

 

 

 
   Synthetic guaranteed investment contract and wrapper contracts:        
   ADJUSTMENT FROM FAIR VALUE TO CONTRACT VALUE GUARANTEED INVESTMENT CONTRACT      **      833,021  
       

 

  

 

 

 
   Total synthetic guaranteed investment contract and wrapper contracts      —        833,021  
       

 

  

 

 

 

*

   Participant loans     

3.25% - 4.25%

Maturing 2018 - 2023

 

 

  **      69,958,932  
       

 

  

 

 

 
   Total investments at year end      203,779,390      4,485,102,698  
       

 

  

 

 

 

 

* Party-in-interest
** Historical cost is disclosed only for non-participant directed investments

 

22


Table of Contents

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Employee Benefit Plans Administrative Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 21, 2018

      NextEra Energy, Inc. Employee Retirement Savings Plan
      (Name of Plan)
    By:   /S/ DEBORAH H. CAPLAN
     

Deborah H. Caplan

Chairman of the Employee Benefit Plans Administrative Committee

 

23


Table of Contents

EXHIBIT INDEX

 

Exhibit

Number

 

Description

23(a)   Consent of Crowe Horwath LLP

 

24