Form 11K
Table of Contents

LOGO

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 11-K

 

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

For the fiscal year ended December 31, 2014

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, 2014 AND 2013

CONTENTS

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM   1   
FINANCIAL STATEMENTS
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 2014 AND 2013   2-3   
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2014     
NOTES TO FINANCIAL STATEMENTS     
SUPPLEMENTAL SCHEDULE
SCHEDULE H Line 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)   15   
SIGNATURE   24   
EXHIBIT
EXHIBIT 23(a) – CONSENT OF CROWE HORWATH LLP   25   


Table of Contents

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

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, 2014 and 2013, and the related statement of changes in net assets available for benefits for the year ended December 31, 2014. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2014 and 2013, and the changes in net assets available for benefits for the year ended December 31, 2014 in conformity with U.S. generally accepted accounting principles.

The supplemental Schedule H, Line 4i—Schedule of Assets (Held at End of Year) as of December 31, 2014 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.

/s/ Crowe Horwath LLP

Crowe Horwath LLP

Columbus, Ohio

June 24, 2015

 

1


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2014 AND 2013

 

  December 31, 2014  
      Nonparticipant-Directed      
  Participant-              
ASSETS Directed   Allocated   Unallocated   Total  

Investments, at fair value (see Note 7)

Registered investment companies

 $ 250,241,539       $ 7,228,596       $ -           $ 257,470,135     

Collective trust funds

  1,294,993,803        -            -            1,294,993,803     

Common stock other than NextEra Energy, Inc. common stock

  327,321,877        -            -            327,321,877     

NextEra Energy, Inc. common stock

  422,746,392        875,088,227        102,892,653        1,400,727,272     

U.S. Treasury notes

  155,550,502        -            -            155,550,502     

Government agency notes

  26,491,443        -            -            26,491,443     

Asset-backed securities

  44,677,017        -            -            44,677,017     

Mortgage-backed securities

  48,666,761        -            -            48,666,761     

Corporate bonds

  46,716,784        -            -            46,716,784     

Interest bearing cash

  30,224        -            -            30,224     

Other

  71,912        -            -            71,912     
 

 

 

   

 

 

   

 

 

   

 

 

 

Total investments, at fair value

  2,617,508,254        882,316,823        102,892,653        3,602,717,730     
 

 

 

   

 

 

   

 

 

   

 

 

 

Receivables

Participant loans

  71,873,571        -            -            71,873,571     

Pending trades due from brokers

  247,556        -            -            247,556     

Other receivables

  1,177,170        -            26        1,177,196     
 

 

 

   

 

 

   

 

 

   

 

 

 

Total receivables

  73,298,297        -            26        73,298,323     

Non-interest bearing cash

  332,995        9        -            333,004     
 

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

  2,691,139,546        882,316,832        102,892,679        3,676,349,057     
 

 

 

   

 

 

   

 

 

   

 

 

 

LIABILITIES

Leveraged ESOP note:

Current

  -          -            27,265,500        27,265,500     

Non-current

  -          -            3,340,882        3,340,882     

Interest payable (Leveraged ESOP)

  -          -            98,859        98,859     

Pending trades due to brokers

  760,319        -            -            760,319     

Other payables

  1,680,687        353,835        -            2,034,522     
 

 

 

   

 

 

   

 

 

   

 

 

 

Total liabilities

  2,441,006        353,835        30,705,241        33,500,082     
 

 

 

   

 

 

   

 

 

   

 

 

 

Net assets, reflecting all investments at fair value

  2,688,698,540        881,962,997        72,187,438        3,642,848,975     

Adjustments from fair value to contract value for fully benefit-responsive investment contracts

  (6,149,366)       -            -            (6,149,366)    
 

 

 

   

 

 

   

 

 

   

 

 

 

NET ASSETS AVAILABLE FOR BENEFITS

 $  2,682,549,174       $   881,962,997       $ 72,187,438       $   3,636,699,609     
 

 

 

   

 

 

   

 

 

   

 

 

 

 

 

 

 

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, 2014 AND 2013

 

  December 31, 2013  
      Nonparticipant-Directed      
  Participant-              
ASSETS Directed   Allocated   Unallocated   Total  

Investments, at fair value (see Note 7)

Registered investment companies

 $ 526,086,973       $ 6,436,000       $ -           $ 532,522,973     

Collective trust funds

  919,369,341        -            -            919,369,341     

Common stock other than NextEra Energy, Inc. common stock

  318,965,584        -            -            318,965,584     

NextEra Energy, Inc. common stock

  375,171,456        716,457,201        155,368,278        1,246,996,935     

U.S. Treasury notes

  168,724,309        -            -            168,724,309     

Government agency notes

  34,014,907        -            -            34,014,907     

Asset-backed securities

  41,763,027        -            -            41,763,027     

Mortgage-backed securities

  52,329,930        -            -            52,329,930     

Corporate bonds

  49,418,093        -            -            49,418,093     

Other

  79,401        -            -            79,401     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total investments, at fair value

  2,485,923,021        722,893,201        155,368,278        3,364,184,500     
  

 

 

    

 

 

    

 

 

    

 

 

 

Receivables

Participant loans

  70,604,491        -            -            70,604,491     

Pending trades due from brokers

  5,352,357        -            -            5,352,357     

Company contributions

  -            -            702,141        702,141     

Other receivables

  4,081,294        736        27        4,082,057     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total receivables

  80,038,142        736        702,168        80,741,046     

Non-interest bearing cash

  918,311        -            -            918,311     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total assets

  2,566,879,474        722,893,937        156,070,446        3,445,843,857     
  

 

 

    

 

 

    

 

 

    

 

 

 

LIABILITIES

Leveraged ESOP note:

Current

  -            -            24,835,245        24,835,245     

Non-current

  -            -            30,606,382        30,606,382     

Interest payable (Leveraged ESOP)

  -            -            179,076        179,076     

Pending trades due to brokers

  4,996,289        -            -            4,996,289     

Other payables

  2,014,957        165,232        -            2,180,189     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total liabilities

  7,011,246        165,232        55,620,703        62,797,181     
  

 

 

    

 

 

    

 

 

    

 

 

 

Net assets, reflecting all investments at fair value

  2,559,868,228        722,728,705        100,449,743        3,383,046,676     

Adjustments from fair value to contract value for fully benefit-responsive investment contracts

  (7,154,023)       -            -            (7,154,023)    
  

 

 

    

 

 

    

 

 

    

 

 

 

NET ASSETS AVAILABLE FOR BENEFITS

 $  2,552,714,205       $   722,728,705       $   100,449,743       $   3,375,892,653     
  

 

 

    

 

 

    

 

 

    

 

 

 

 

 

 

 

 

 

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, 2014

 

      Nonparticipant-Directed      
  Participant-              
  Directed   Allocated   Unallocated   Total  

Additions to net assets attributed to:

Net appreciation in fair value of investments

Registered investment companies

 $ 22,621,423       $ -           $ -           $ 22,621,423     

Collective trust funds

  71,762,144        -            -            71,762,144     

Common stock other than NextEra Energy, Inc. common stock

  19,341,121        -            -            19,341,121     

NextEra Energy, Inc. common stock

  86,320,705        169,789,511        30,019,726        286,129,942     

Interest income

  8,542,264        -            79        8,542,343     

Dividend income

  25,525,164        23,678,643        4,277,115        53,480,922     
  

 

 

    

 

 

    

 

 

    

 

 

 

Net investment income

  234,112,821        193,468,154        34,296,920        461,877,895     

Contributions

Participant

  127,528,340        -            -            127,528,340     

Employer

  -            477,257        708,354        1,185,611     

Allocation of leveraged ESOP shares

  -            58,917,313        -            58,917,313     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total contributions

  127,528,340        59,394,570        708,354        187,631,264     

Transfer from/to nonparticipant-directed investments

  37,201,211        358,920        -            37,560,131     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total net additions

  398,842,372        253,221,644        35,005,274        687,069,290     

Deductions from net assets attributed to:

Interest expense

  -            -            4,350,266        4,350,266     

Benefit payments to participants and beneficiaries

  264,418,474        56,537,970        -            320,956,444     

Management and administrative expenses

  4,230,009        248,171        -            4,478,180     

Transfer from/to participant directed to non-participant directed investments

  358,920        37,201,211        -            37,560,131     

Decrease in leveraged ESOP unallocated account

  -            -            58,917,313        58,917,313     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total deductions

  269,007,403        93,987,352        63,267,579        426,262,334     

Net increase/(decrease)

 $ 129,834,969       $   159,234,292       $ (28,262,305)      $ 260,806,956     

Net assets available for benefits at December 31, 2013

 $  2,552,714,205       $   722,728,705       $   100,449,743       $   3,375,892,653     
  

 

 

    

 

 

    

 

 

    

 

 

 

Net assets available for benefits at December 31, 2014

 $  2,682,549,174       $   881,962,997       $ 72,187,438       $   3,636,699,609     
  

 

 

    

 

 

    

 

 

    

 

 

 

 

 

 

 

 

 

 

 

 

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, 2014 AND 2013

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) or the Plan Prospectus 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). Participation in the Plan is voluntary. The Plan includes a cash or deferred compensation 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 elect 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 in the IBEW 2150 at NextEra Energy Point Beach are eligible to participate in the Plan on the first day of employment.

The Plan also includes leveraged employee stock ownership plan (Leveraged ESOP) provisions (see Note 4). The Leveraged ESOP is a stock bonus plan within the meaning of U.S. Treasury Regulation Section 1.401-1(b)(1)(iii) that 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, distribution of dividends in cash, or a partial cash distribution of dividends with the balance reinvested in Company Stock. Dividends on unallocated Company Stock held in the Leveraged ESOP do not qualify under this program.

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 after-tax contributions by eligible employees in whole percentages of up to 50% of their eligible earnings, as defined by the Plan. In addition, individuals age 50 or older who contributed the maximum annual amount allowable under the Pretax Option in the Plan have the option of contributing an additional catch up contribution in accordance with Code Section 414(v).

 

5


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2014 AND 2013

 

NextEra Energy Point Beach bargaining unit eligible employees represented by IBEW 2150 (Eligible Employee) hired or rehired after January 1, 2008 are deemed to have elected to make a Pretax Contribution of 3% in the Plan unless such Eligible Employee otherwise affirmatively revokes or modifies his or her pretax election within 60 days of his or her date of hire.

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.

Employer Contributions

The table below presents the employer contribution formula for the various Participant groups covered by the Plan as of December 31, 2014 and 2013.

 

Participant Group Benefit      
NextEra Energy, Inc. and subsidiaries Non-Bargaining and Bargaining Unit Employees, not listed below

100% on the first 3% of employee contribution

  50% on the next 3% of employee contribution

  25% on the next 1% of employee contribution

NextEra Energy Seabrook, LLC (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 contribution

NextEra Energy Duane Arnold, LLC (NextEra Energy Duane Arnold) Non-Bargaining Employees hired prior to January 27, 2006 and 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 contribution

  50% on the next 2% of employee contribution

NextEra Energy Point Beach Bargaining Unit Employees represented by IBEW 1250

100% on the first 1% of employee contribution

  50% on the next 6% of employee contribution

All or part of required Company contributions to the Plan are made in the form of Company Stock allocated from shares held in suspense in the Leveraged ESOP account based on the fair value of the shares on the date of allocation. The Company makes cash contributions for the difference between the dividends on the shares acquired by the Leveraged ESOP account and the required principal and interest payments on Acquisition Indebtedness (see Note 4). In 2014 the Company contributed cash of $708,354 for required principal and interest payments on Acquisition Indebtedness and a cash contribution of $477,257 for matching contributions on eligible earnings for certain bargaining unit employees. Contributions are subject to certain limitations.

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. At December 31, 2014 and 2013, the balance of the forfeiture account was $266,936 and $76,103, respectively. Forfeitures applied to administrative fees in 2014 totaled $701,602.

Vesting

Participants are immediately 100% vested in employee contributions.

Company matching contributions vest at a rate of 20% each year of service and are fully vested upon a Participant attaining five years of service, except as noted below.

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 and NextEra Energy Point Beach non-bargaining employees hired prior to September 28, 2007 are fully vested immediately in Company matching contributions. For employees of NextEra Energy Maine Operating Services, LLC (NextEra Energy Maine) hired prior to August 1, 2006, Company matching contributions are fully vested upon attaining six months of service.

 

6


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2014 AND 2013

 

For bargaining unit employees of NextEra Energy Maine hired prior to May 15, 2008, employer contributions are fully vested upon attaining six months of service. For bargaining unit employees of NextEra Energy Seabrook hired prior to January 1, 2009 and bargaining unit employees of NextEra Energy Point Beach other than employees represented by IBEW 2150, employer contributions are fully vested immediately. For bargaining unit employees of NextEra Energy Point Beach represented by IBEW 2150 hired on or after September 28, 2007, employer contributions are fully vested after attaining one year of service. For bargaining unit employees of NextEra Energy Duane Arnold existing on the date of acquisition of the Duane Arnold Energy Center (January 27, 2006), employer contributions are fully vested. For all bargaining unit employees of NextEra Energy Point Beach existing on the date of acquisition of the Point Beach Nuclear Plant (September 28, 2007), employer contributions are fully vested.

Under certain circumstances, an employee may also receive vesting credit for prior years of service with the Company or any of its subsidiaries.

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 prior 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. The annual rate of interest on Participant loans is fixed and takes into account the prime rate at the time of origination of the loan. Loans outstanding at December 31, 2014 carry an interest rate of 3.25% and mature between 2015 and 2020.

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.

Administrative Expenses

The Company pays a portion 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 and the Code that limit this right while Leveraged ESOP Acquisition Indebtedness remains outstanding. 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.

Classification of Various Items

Certain reclassifications of prior period amounts have been made to conform to the current presentation. These reclassifications did not have a material impact on the Plan’s financial position or changes in net assets available for benefits.

 

7


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2014 AND 2013

 

Investment Valuation

The Plan’s investments are reported at fair 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 technique 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 other 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 common stock are valued at their quoted market price in active markets (level 1 inputs).

Investment in shares of commingled funds, which are registered investment companies, are valued at the net asset value of such shares held (level 2 inputs). The investment objectives of these registered investment companies valued at net asset value vary, with some holding diversified portfolios of domestic or international stocks, diversified portfolios of bonds, inflation-protected bonds, and/or money market securities. Each of these registered investment companies which are valued at net asset value provide for daily redemptions reported at net asset value per unit share, with no advance notice requirement.

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). The investment objectives of the underlying collective trust funds vary, with holdings which include diversified portfolios of domestic or international stocks, diversified portfolios of bonds, inflation-protected bonds, money market securities, commodity securities and/or real estate securities. Each collective trust fund provides for daily redemptions reported at net asset value per unit share, with no advance notice requirement.

Interest bearing cash: Interest bearing cash plus accrued interest is reported at cost which approximates fair value (level 2).

Managed Income Fund: The Managed Income Fund holds fully benefit-responsive investment contracts (wrapper contracts) (see Note 8 – 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 Managed Income Fund is a synthetic guaranteed investment contract which is valued at the estimated fair value of the underlying investments of the contracts, primarily debt securities and wrapper contracts. The fair values of U.S. Treasury notes are reflected at the closing price reported in the active market in which the security is traded (level 1 inputs). Asset-backed and mortgage-backed securities are valued at their most recent bid prices (sales prices if their principal market is an exchange) in the principal market in which such securities are traded, as determined by recognized dealers in such securities, or are valued on the basis of information provided by a pricing service (level 2 inputs). The fair values of corporate bonds are estimated based on yields currently available on comparable securities of issues with similar credit ratings (level 2 inputs). The fair values of government agency notes are estimated based on current rates for similar instruments (level 2 inputs).

 

8


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2014 AND 2013

 

Wrapper contracts:  Investments in wrapper contracts are valued at fair value using a discounted cash flow model which considers recent fee bids as determined by recognized dealers, discount rate, and the duration of the underlying portfolio of securities. For 2014 and 2013, the fair value of the wrapper contracts was not material. 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 because the difference between fair value and contract value for this investment is presented as a separate adjustment in the statement of net assets available for benefits. 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 wrap issuer may terminate a wrapper contract at any time; however, if the fair value of the contract is less than the contract value, the wrap 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; securities held in the Leveraged ESOP account 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.  Leveraged Employee Stock Ownership Plan

In December 1990, the Master Trust for Retirement Savings Plans of NextEra Energy, Inc. and Affiliates (Master Trust) borrowed $360 million (Acquisition Indebtedness) from NextEra Energy Capital Holdings, Inc. to purchase approximately 24.8 million shares of Company Stock. On December 31, 2013 the NextEra Energy, Inc. Bargaining Unit Employee Retirement Savings Plan was merged with and into the Plan. In conjunction with the plan merger, the Master Trust for Retirement Savings Plans of NextEra Energy, Inc. and Affiliates (Master Trust) was renamed the NextEra Energy, Inc. Employee Retirement Savings Plan Trust (Trust) and amended to be a single trust. The Company Stock acquired by the Master Trust (now held in the Trust) is initially held in a separate account (Leveraged ESOP account) until shares are allocated to the accounts of participants under the plan.

Acquisition Indebtedness

The Acquisition Indebtedness (Leveraged ESOP Note) is currently held by EMB Investments, Inc. (the Lender) which is a wholly-owned subsidiary of NextEra Energy Capital Holdings, Inc. The Leveraged ESOP Note is currently scheduled to mature in 2016 and bears interest at a fixed rate of 9.69% per annum. The Leveraged ESOP Note is to be repaid quarterly using dividends received on both Company Stock held by the Leveraged ESOP account and Leveraged ESOP shares allocated to Participants’ accounts under the

 

9


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2014 AND 2013

 

Plan, together with cash contributions from the Company. For dividends on shares allocated to Participants’ accounts used to repay the loan, additional shares equal in value to those dividends are allocated to Participants’ accounts under the Plan. In 2014, dividends received from shares held by the Leveraged ESOP account and shares allocated to Participants’ accounts totaled $4,277,115 and $23,678,643, respectively. Employer contributions for the 2014 debt service shortfall totaled $708,354.

The unallocated shares of Company Stock acquired with the proceeds of the Leveraged ESOP Note are collateral for the Leveraged ESOP Note. As debt payments are made, a percentage of Company Stock is released from collateral and becomes available to satisfy Company matching contributions, as well as to replace dividends on Leveraged ESOP shares allocated to Participants’ accounts used to repay the Leveraged ESOP Note. The number of shares released from the Leveraged ESOP account and allocated to Participants’ accounts during the year is based on the ratio of the total of the current year’s principal and interest payments on the Leveraged ESOP Note to the total principal and interest payments remaining, including the current year. In 2014, the number of shares required to be released exceeded the number of shares required to provide Company matching contributions and to restore dividends on allocated Leveraged ESOP shares. The additional shares were allocated to participants in accordance with the terms of the Plan. During 2014, 846,589 shares of Company Stock were released from collateral for the Leveraged ESOP Note. The 846,589 shares consisted of 500,130 shares to provide Company matching contributions, 101,690 shares allocated in accordance with the terms of the plan and 244,769 shares to restore dividends on allocated Leveraged ESOP shares used to repay the Leveraged ESOP Note.

The Leveraged ESOP Note, with carrying values of $30,606,382 and $55,441,627 at December 31, 2014 and 2013, respectively, is estimated to have a fair value that is not materially different from carrying value. The fair value is estimated using a discounted cash flow valuation technique, based upon interest rates currently available to the Company on debt with similar terms, maturities, and structures (level 2 inputs).

The scheduled principal repayments of the Leveraged ESOP Note are as follows:

 

Year

 

    Repayment Amount    

2015

  $                  27,265,500  

2016

  $                    3,340,882  

5.  Nonparticipant-directed Investments

The nonparticipant-directed net assets of the Plan and changes therein consist of those reflected in the financial statements as “Nonparticipant-Directed Unallocated” and “Nonparticipant-Directed Allocated.”

6.  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.

The Leveraged ESOP Note is currently held by the Lender which is a wholly-owned subsidiary of NextEra Energy Capital Holdings, Inc., which is a wholly-owned subsidiary of the Company. As of December 31, 2014 and 2013, 968,037 and 1,814,626 shares, respectively of Company Stock held by the Plan served as collateral for the Leveraged ESOP Note.

Dividend income earned by the Plan includes dividends on Company Stock. Dividends received on both Company Stock held by the Leveraged ESOP account and Leveraged ESOP shares allocated to Participants’ accounts under the Plan, together with cash contributions from the Company, are used to repay the Leveraged ESOP Note. Certain dividends on shares held in Participants’ accounts are reinvested in Company Stock for the benefit of the Plan’s Participants pursuant to the Company’s Dividend Reinvestment and Direct Stock Purchase Plan in which the Trustee participates.

At December 31, 2014 and 2013, the number of shares of Company Stock held in Participants’ accounts totaled 12,210,317 and 12,749,692, respectively, with a fair value of $1,297,834,619 and $1,091,628,657, respectively. During 2014, dividends on shares of Company Stock held in Participants’ accounts totaled $35,651,171 and dividends on shares of Company Stock held in the Leveraged ESOP account totaled $4,277,115.

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. Participant Loans held by the Plan of $71,873,571 and $70,604,491 at December 31, 2014 and December 31, 2013, respectively, are also considered party-in-interest transactions.

 

10


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2014 AND 2013

 

7.  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, 2014:

  Fair Value Measurements
At December 31, 2014 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:

Equity securities:

Common stocks (a)

  $ 327,321,877        $ -            $ -            $ 327,321,877     

Company Stock

  422,746,392        -            -            422,746,392     

Equity commingled funds (b)(c)

  73,816,780        925,824,653        -            999,641,433     

Fixed income commingled funds (d)(e)(f)

  91,141,829        136,648,175        -            227,790,004     

Blended commingled funds (g)

  -            317,803,905        -            317,803,905     

U.S. Treasury notes

  155,550,502        -            -            155,550,502     

Government agency notes

  -            26,491,443        -            26,491,443     

Asset-backed securities

  -            44,677,017        -            44,677,017     

Mortgage-backed securities

  -            48,666,761        -            48,666,761     

Corporate bonds (h)

  -            46,716,784        -            46,716,784     

Interest bearing cash

  -            30,224        -            30,224     

Wrapper contracts

  -            71,912        -            71,912     
 

 

 

   

 

 

   

 

 

   

 

 

 

Total participant-directed investments

  1,070,577,380        1,546,930,874        -            2,617,508,254     

Nonparticipant-directed investments

(Leveraged ESOP):

Equity securities:

Company Stock

  977,980,880        -            -            977,980,880     

Fixed income commingled funds (d)

  7,228,596        -            -            7,228,596     
 

 

 

   

 

 

   

 

 

   

 

 

 

Total nonparticipant-directed investments

  985,209,476        -            -            985,209,476     

Total investments at fair value

  $       2,055,786,856        $     1,546,930,874        $               -            $      3,602,717,730     
 

 

 

   

 

 

   

 

 

   

 

 

 

(a) Includes foreign investments of $28,046,809 classified as Level 1.

(b) Includes registered investment companies of $73,816,780 classified as Level 1.

(c) Includes collective trust funds of $925,824,653 including foreign funds of $118,042,411 classified as Level 2.

(d) Includes money market mutual fund investments of $90,240,916 and registered investment company investments of $8,129,509 classified as Level 1.

(e) Includes registered investment company investments of $85,282,930 and collective trust fund investments of $51,365,245 classified as Level 2.

(f) Includes foreign investments of $9,992,650 classified as Level 2.

(g) Includes collective trust fund investments of $317,803,905 classified as Level 2.

(h) Includes foreign investments of $21,402,312 classified as Level 2.

During the 2014 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, 2014 AND 2013

 

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, 2013:

  Fair Value Measurements
At December 31, 2013 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:

Equity securities:

Common stocks (a)

  $ 318,965,584        $ -            $ -            $ 318,965,584     

Company Stock

  375,171,456        -            -            375,171,456     

Equity commingled funds (b)(c)

  347,516,303        583,130,690        -            930,646,993     

Fixed income commingled funds (d)(e)(f)

  84,113,063        148,585,694        -            232,698,757     

Blended commingled funds (g)

  -            282,110,564        -            282,110,564     

U.S. Treasury notes

  168,724,309        -            -            168,724,309     

Government agency notes (h)

  -            34,014,907        -            34,014,907     

Asset-backed securities

  -            41,763,027        -            41,763,027     

Mortgage-backed securities

  -            52,329,930        -            52,329,930     

Corporate bonds (i)

  -            49,418,093        -            49,418,093     

Wrapper contracts

  -            79,401        -            79,401     
 

 

 

   

 

 

   

 

 

   

 

 

 

Total participant-directed investments

  1,294,490,715        1,191,432,306        -            2,485,923,021     

Nonparticipant-directed investments

(Leveraged ESOP):

Equity securities:

Company Stock

  871,825,479        -            -            871,825,479     

Fixed income commingled funds (d)

  6,436,000        -            -            6,436,000     
 

 

 

   

 

 

   

 

 

   

 

 

 

Total nonparticipant-directed investments

  878,261,479        -            -            878,261,479     

Total investments at fair value

  $       2,172,752,194        $     1,191,432,306        $               -            $      3,364,184,500     
 

 

 

   

 

 

   

 

 

   

 

 

 

(a) Includes foreign investments of $19,575,556 classified as Level 1.

(b) Includes registered investment companies of $347,516,303 classified as Level 1.

(c) Includes collective trust funds of $583,130,690 including foreign funds of $133,473,626 classified as Level 2.

(d) Includes money market mutual fund investments of $86,888,516 and registered investment company investments of $3,660,547 classified as Level 1.

(e) Includes registered investment company investments of $94,457,608 and collective trust fund investments of $54,128,086 classified as Level 2.

(f) Includes foreign investments of $11,224,497 classified as Level 2.

(g) Includes collective trust fund investments of $282,110,564 classified as Level 2.

(h) Includes foreign investments of $3,059,689 classified as Level 2.

(i) Includes foreign investments of $17,931,606 classified as Level 2.

During the 2013 Plan year there were no transfers between Level 1 and Level 2 investments.

 

12


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2014 AND 2013

 

Individual investments in the Plan that represent 5% or more of the Plan’s net assets available for benefits as of December 31, 2014 and 2013 are as follows:

 

                    December 31,                     
  2014   2013  
 

 

 

 

NextEra Energy, Inc. common stock:

Held in NextEra Energy, Inc. Stock Leveraged ESOP Fund (non-participant directed allocated)

 $ 875,088,227    $ 716,457,201    

Held in NextEra Energy, Inc. Stock Fund

  422,746,392      375,171,456    

Held in NextEra Energy, Inc. Stock Leveraged ESOP Fund (non-participant directed unallocated)

  102,892,653      155,368,278    
 

 

 

 

Total NextEra Energy, Inc. common stock

 $       1,400,727,272    $  1,246,996,935    
 

 

 

 

8.  Managed Income Fund

At December 31, 2014, the contract value and fair value of fully benefit-responsive investment contracts was $317,117,595 and $323,266,961, respectively. At December 31, 2013, the contract value and fair value of fully benefit-responsive investment contracts was $344,996,988 and $352,151,011, respectively. The fair value of fully benefit-responsive investment contracts excludes short term investments in registered investment companies of $2,020,594 and $900,292, respectively, at December 31, 2014 and 2013. The average yield for the portfolio of fully benefit-responsive investment contracts based on annualized earnings was 1.61% and 1.49% for 2014 and 2013, respectively. The average yield based on the interest rate credited to Participants at December 31, 2014 and December 31, 2013 was 1.61% and 1.44%, respectively. 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.  Income Taxes

On November 14, 2013, the Internal Revenue Service (IRS) made a favorable determination that the Plan meets the requirements of Section 401(a) of the Code. In January 2015 an application for renewal of favorable determination status was filed with the IRS. 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. In addition, the Company will be able to claim an income tax deduction for dividends used to repay the Leveraged ESOP Note and for dividends on Company Stock distributed directly to Participants. Participants are given the option to receive dividend distributions in cash; all 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. 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, 2014 and 2013, 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; however, there are currently no audits for any tax periods in progress. The plan administrator believes it is no longer subject to income tax examinations by the IRS for years prior to 2011.

 

13


Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2014 AND 2013

 

10.  Reconciliation of Financial Statements to Form 5500

The following is a reconciliation of net assets available for benefits included in the financial statements to Form 5500:

 

  December 31,  
  2014   2013  
 

 

 

 

Net assets available for benefits per the financial statements

  $ 3,636,699,609    $ 3,375,892,653     

Adjustment from fair value to contract value for fully benefit-responsive investment contracts

  6,149,366      7,154,023     
 

 

 

 

Net assets per Form 5500

  $     3,642,848,975    $  3,383,046,676     
 

 

 

 

The following is a reconciliation of net change in net assets available for benefits per the financial statements to the Form 5500:

 

       December 31,    
2014
 

Increase in net assets available for benefits per the financial statements

  $     260,806,956     

Plus: Current year adjustment to contract value for investments in fully benefit-responsive contracts

  6,149,366     

Less: Prior year adjustment to contract value for investments in fully benefit-responsive contracts

                                             

  (7,154,023)    
    

 

 

 

Net income per Form 5500

  $ 259,802,299     
    

 

 

 

In accordance with accounting guidance, the Plan presented the investments for fully benefit-responsive investment contracts at fair value on the statement of net assets available for benefits with a reconciling item adjusting back to contract value, which is not required on Form 5500.

11.  Subsequent Events

All non-bargaining employees and certain bargaining employees hired on or after January 1, 2015 will be deemed to have elected to make a Pretax Contribution of 3% in the Plan unless such employee otherwise affirmatively revokes or modifies his or her pretax election within 60 days of his or her date of hire.

 

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, 2014

 

    (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      
 
Cash and Cash Equivalents:
Swiss Franc   30,049        **        30,224     
            

 

 

    

 

 

 
Total Cash and Cash Equivalents   -            $ 30,224     
            

 

 

    

 

 

 
Common Stock:
Actavis PLC   4,000        **        1,029,640     
Airbnb   6,435        **        261,988     
Alexion Pharmaceuticals Inc.   24,400        **        4,514,732     
Alibaba Group Holding Limited   14,494        **        1,506,506     
Allergan Inc.   13,500        **        2,869,965     
Amazon.com Inc.   22,300        **        6,920,804     
American Airlines Group Inc   92,500        **        4,960,775     
Apple Inc.   18,000        **        1,986,840     
ASML Hldg NV   10,700        **        1,153,781     
Baidu Inc. Spon ADR   13,100        **        2,986,407     
Biogen Idec Inc.   12,200        **        4,141,290     
Boeing Co   44,100        **        5,732,118     
Carmax Inc.   20,700        **        1,378,206     
Celgene Corp   33,300        **        3,724,938     
Chipotle Mexican Grill Inc.   1,750        **        1,197,893     
CTRIP.COM Intl Ltd Adr   19,600        **        891,800     
Danaher Corp   65,900        **        5,648,289     
Delphi Automotive PLC   25,700        **        1,868,904     
Dropbox Inc.   15,913        **        303,938     
Ecolab Inc.   1,900        **        198,588     
EQT Corp   20,000        **        1,514,000     
Estee Lauder Cos Inc. Class A   18,900        **        1,440,180     
Facebook Inc. Class A   50,099        **        3,908,724     
FedEx Corp   9,700        **        1,684,502     
Flipkart LTD Serv G PC PP   1,819        **        217,843     
Flowserve Corp.   16,200        **        969,246     
Gilead Sciences Inc.   46,100        **        4,345,386     
Google Inc. Class A   8,800        **        4,669,808     
Google Inc. Class C   8,400        **        4,421,760     
Hanesbrands Inc.   8,200        **        915,284     
Hilton Worldwide Holdings Inc.   57,113        **        1,490,078     
Humana Inc.   12,200        **        1,752,286     
Hunt J B Transport Services Inc   21,700        **        1,828,225     
Intercontinental Exchange Inc.   5,400        **        1,184,166     
Intuitive Surgical Inc   6,870        **        3,633,818     
Kansas City Southern   8,600        **        1,049,458     
Lilly (ELI) & Co   27,200        **        1,876,528     
Linkedin Corp Class A   5,400        **        1,240,434     
Living Social.com CNV PFD F PP   8,170        **        2,124     
Lowes Cos Inc.   43,800        **        3,013,440     
McKesson Corp   26,400        **        5,480,112     
MGM Resorts International   118,905        **        2,542,189     
Michael Kors Holdings LTD   8,600        **        645,860     
Morgan Stanley   92,500        **        3,589,000     
Netflix Inc.   3,300        **        1,127,313     
Netsuite Inc.   12,300        **        1,342,791     
Palo Alto Networks Inc.   3,800        **        465,766     
Pioneer Natural Resources Co   17,700        **        2,634,645     
Precision Castparts Corp   16,100        **        3,878,168     
Priceline.Com Inc.   5,580        **        6,362,372     
Range Resources Corp   39,112        **        2,090,536     
Red Hat Inc.   31,400        **        2,170,996     
Regeneron Pharmaceuticals Inc.   2,600        **        1,066,650     
Salesforce.com Inc.   51,000        **        3,024,810     
Servicenow Inc.   22,000        **        1,492,700     
Sherwin Williams Co   9,600        **        2,525,184     
Starbucks Corp   33,100        **        2,715,855     
State Street Corp   27,500        **        2,158,750     
TD Ameritrade Holding Corp   82,600        **        2,955,428     
Tesla Motors Inc.   6,300        **        1,401,183     
Tractor Supply Co.   25,200        **        1,986,264     
Twitter Inc   18,000        **        645,660     
Uber Technologies Inc.   10,648        **        354,765     
Under Armour Inc. Class A   6,000        **        407,400     
United Continental Holdings Inc.   23,900        **        1,598,671     
Unitedhealth Group Inc.   23,100        **        2,335,179     
Valenat Pharmaceuticals (USA)   24,700        **        3,534,817     
Vantiv Inc   30,500        **        1,034,560     
Verisk Analytics Inc. Class A   15,300        **        979,965     
Vertex Pharamaceuticals Inc.   10,600        **        1,259,280     
Vipshop Holdings LTD ADR   45,900        **        896,886     
Visa Inc. Class A   29,709        **        7,789,658     
VMware Inc. Class A   8,300        **        684,916     
Vulcan Materials Co   30,200        **        1,985,046     
Wabtec   21,200        **        1,842,068     
Workday Inc Class A   10,100        **        824,261     
Wynn Resorts Ltd   27,400        **        4,076,024     

 

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, 2014

 

    (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      
 
Anadarko Pertroleum Corp   6,500        **        536,250     
Apache Corp   20,800        **        1,303,536     
Archer Daniels Midland Co   18,800        **        977,600     
Avon Products Inc.   31,900        **        299,541     
Boeing Co   7,400        **        961,852     
BP Plc Spon Adr   10,400        **        396,448     
Bristol-Myers Squibb Co   18,200        **        1,074,346     
Cablevision Sys Corp NY Group A   21,500        **        443,760     
Campbell Soup Co   9,600        **        422,400     
Carnival Corp Paired CTF   19,600        **        888,468     
Chevron Corp   15,000        **        1,682,700     
Clorox Co   7,000        **        729,470     
Coach Inc.   5,900        **        221,604     
Comcast Corp Class A   7,500        **        435,075     
Conagra Foods Inc.   3,000        **        108,840     
ConocoPhillips   5,000        **        345,300     
Consol Energy Inc.   18,500        **        625,485     
Deere & Co   7,400        **        654,678     
Diamond Offshore Drilling   11,300        **        414,823     
Disney (Walt) Co   5,100        **        480,369     
Dupont (EI) De Nemours & Co   7,800        **        576,732     
Eaton Corp PLC   6,420        **        436,303     
Emerson Electric Co   15,200        **        938,296     
Exxon Mobil Corp   16,700        **        1,543,915     
Flowserve Corp   700        **        41,881     
Ford Motor Co   29,400        **        455,700     
General Electric Co   98,700        **        2,494,147     
General Motors Co   13,873        **        484,306     
Genuine Parts Co   5,800        **        618,106     
GlaxoSmithKline PLC   17,808        **        381,916     
Hess Corp   15,600        **        1,151,592     
Honeywell International Inc.   10,400        **        1,039,168     
Illinois Tool Works Inc.   14,800        **        1,401,560     
International Paper Co   22,200        **        1,189,476     
Johnson & Johnson   13,900        **        1,453,523     
Johnson Controls Inc.   11,900        **        575,246     
Joy Global Inc.   9,700        **        451,244     
Kellogg Co   1,900        **        124,336     
Kohls Corp   16,300        **        994,952     
Macys Inc.   11,100        **        729,825     
Madison Square Garden Co Class A   1,500        **        112,890     
Masco Corporation   21,800        **        549,360     
Mattel Inc.   29,700        **        919,067     
McCormick & Co Inc. Non-Vtg   5,000        **        371,500     
MdDonalds Corp   2,400        **        224,880     
Meadwestvaco Corp   11,800        **        523,802     
Merck & Co Inc. New   19,800        **        1,124,442     
Murphy Oil Corp   14,600        **        737,592     
New York Time Co Class A   20,400        **        269,688     
Newmont Mining Corp   16,800        **        317,520     
News Corp New Class A   17,800        **        279,282     
Nucor Corp   15,100        **        740,655     
Pearson PLC   12,721        **        235,941     
Pepsico Inc.   7,500        **        709,200     
Pfizer Inc.   37,700        **        1,174,355     
PNC Financial Services Group Inc.   14,800        **        1,350,204     
Potash Corp of Saskatchewan   9,200        **        324,944     
Potash Corp of Saskatchewan   700        **        24,745     
Potash Corp of Saskatchewan (US)   1,500        **        52,980     
Quest Diagnostics Inc.   9,100        **        610,246     
Rayonier Inc. REIT   11,900        **        332,486     
Royal Dutch Shell Spn Adr Class A   17,400        **        1,164,930     
Schlumberger LTD   7,000        **        597,870     
Stanley Black & Decker Inc.   8,000        **        768,640     
Staples Inc.   42,200        **        764,664     
Talisman Energy Inc (Cana)   45,000        **        352,350     
Telefonica SA   25,151        **        362,773     
Tiffany & Co   600        **        64,116     
Time Warner Inc.   13,500        **        1,153,170     
United Parcel Service Inc. Class B   9,300        **        1,033,881     
USG Corp New   11,800        **        330,282     
VodaFone Group PLC   50,181        **        174,139     
Vulcan Materials Co   10,200        **        670,446     
Whirlpool Corp   600        **        116,244     
Xylem Inc.   15,500        **        590,085     

 

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, 2014

 

    (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      
 
AES Corp   23,000        **        316,710     
American Express Co   10,000        **        930,400     
Analog Devices Inc.   10,800        **        599,616     
Apple Inc.   5,200        **        573,976     
Applied Materials Inc.   37,400        **        932,008     
AT&T Inc.   36,600        **        1,229,394     
Bank of America Corporation   87,200        **        1,560,008     
Bank of New York Mellon Corp   600        **        24,342     
CA Inc.   7,400        **        225,330     
Centurylink Inc.   13,482        **        533,618     
Chubb Corp   4,400        **        455,268     
Cisco Systems Inc.   31,500        **        876,173     
Computer Sciences Corp   6,900        **        435,045     
Corning Inc.   36,700        **        841,531     
Digital Realty Trust Inc.   6,600        **        437,580     
Duke Energy Corp   13,850        **        1,157,029     
Entergy Corp   11,800        **        1,032,264     
Exelon Corp   20,900        **        774,972     
Firstenergy Corp   16,000        **        623,840     
Harris Corp   12,200        **        876,204     
IBM Corp   4,000        **        641,760     
* JPMorgan Chase & Co   38,200        **        2,390,556     
Loews Corp   14,100        **        592,482     
Marsh & McLennan Cos Inc.   22,600        **        1,293,624     
Metlife Inc.   11,100        **        600,399     
Microsoft Corp   18,300        **        850,035     
Motorola Solutions Inc.   2,200        **        147,576     
Nisource Inc.   27,500        **        1,166,550     
Northern Trust Corp   13,300        **        896,420     
Och-Ziff Capital Management Group LLC   8,400        **        98,112     
Qualcomm Inc.   11,900        **        884,527     
Regions Financial Corp   31,300        **        330,528     
Sun Life Financial Inc.   9,800        **        353,388     
Suntrust Banks Inc.   22,600        **        946,940     
Texas Instruments Inc.   13,800        **        737,817     
US Bancorp Del   36,600        **        1,645,170     
Verizon Communications Inc.   18,019        **        842,929     
Wells Fargo & Co   35,800        **        1,962,556     
Western Union Co   19,200        **        343,872     
Weyerhaeuser Co   20,500        **        735,745     
Willis Group Holdings PLC   5,900        **        264,379     
Xcel Energy Inc.   17,700        **        635,784     
Abiomed Inc.   57,800        **        2,199,868     
Affiliated Managers Group Inc.   15,500        **        3,289,720     
Athenahealth Inc.   10,800        **        1,573,560     
Bio Techne Corp.   37,423        **        3,457,885     
Blackbaud Inc.   61,900        **        2,677,794     
Core Labroratories NV   23,128        **        2,783,224     
Coupons Com Inc.   55,898        **        992,190     
Dineequity Inc.   43,368        **        4,494,684     
Dunkin Brands Group Inc.   39,540        **        1,686,381     
Ellie Mae Inc.   29,400        **        1,185,408     
Equity Commonwealth   119,700        **        3,072,699     
Expeditors International of Washington Inc.   60,100        **        2,681,061     
Graco Inc.   44,600        3,576,028     
Heartland Payment Systems Inc.   79,140        **        4,269,603     
J2 Global Inc.   67,720        **        4,198,640     
Logitech Intl SA Reg   177,803        **        2,405,402     
MSCI Inc.   83,200        **        3,947,008     
NIC Inc.   96,332        **        1,733,013     
Outfront Media Inc   53,219        **        1,428,398     
Ritchie Bros Auctioneers (USA)   85,600        **        2,301,784     
Sally Beauty Holdings Inc.   122,600        **        3,768,724     
Shutterstock Inc.   28,800        **        1,990,080     
Ulta Salon Cosmetics & Frg Inc.   22,900        **        2,927,536     
Verifone Systems Inc.   81,931        **        3,047,833     
Zebra Tech Corp Class A   42,402        **        3,282,339     
* NextEra Energy (NextEra Energy, Inc. Stock Fund)   3,977,292        142,985,379        422,746,392     
* NextEra Energy (NextEra Energy, Inc. Stock Leveraged ESOP Fund)   8,233,025        125,066,837        875,088,227     
* NextEra Energy (NextEra Energy, Inc. Stock Leveraged ESOP - Unallocated)   968,037        14,036,537        102,892,653     
             

 

 

    

 

 

 
Total Common Stock         282,088,752        $         1,728,049,149     
             

 

 

    

 

 

 

 

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, 2014

 

    (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      
 
Collective Trust Funds:
* BTC ACWI EX US IMI M   2,684,892        **        29,579,719     
* BTC Equity Index T   1,953,455        **        149,391,642     
* BTC Russell 3000 M   5,129,403        **        54,176,756     
* BTC US Debt Index W   1,981,501        **        40,079,530     
* Clearbridge Value Equity CIF R1   5,196,462        **        86,469,131     
* Cohen & Steers US Realty Shares   7,023,081        **        76,692,043     
* Fidelity Low-priced Stock Pool   8,462,703        **        91,397,188     
* Fisher Investments Emerging Markets Equity Collective Trust   310,535        **        3,229,567     
* PIMCO Diversified Real Asset Trust   882,663        **        12,048,350     
* Royce PC Trust R IS   12,132,302        **        114,892,900     
* Thornburg International Equity Fund   6,395,161        **        85,233,125     
* Vangard Target 2015   2,683,290        **        116,642,624     
* Vangard Target 2025   3,543,337        **        152,611,507     
* Vangard Target 2035   3,859,724        **        165,852,312     
* Vangard Target 2045   1,447,986        **        63,117,724     
* Vangard Target 2055   108,211        **        5,792,546     
* Vanguard Target Retirement   813,130        **        36,501,424     
* SSBK Government STIF Fund(Managed Income Fund)   728,065        **        728,065     
* SSBK Government STIF Fund(Equity Income TRP Fund)   6,095,248        **        6,095,248     
* SSBK Government STIF Fund(Small Mid Cap Growth by Delaware)   2,724,211        **        2,724,211     
* SSBK Government STIF Fund(Large Cap Growth Fund)   1,738,191        **        1,738,191     
             

 

 

    

 

 

 
Total Collective Trust Funds   -           $         1,294,993,803     
             

 

 

    

 

 

 
Registered Investment Companies - Mutual Funds:
* Eaton Vance Floating-Rate & High Income Fund Class I   926,968        **        8,129,509     
* JPMorgan US Government Money Market Portfolio   76,846,560        **        76,846,561     
* Vanguard Prime Cap Core Fund   3,411,127        **        73,816,780     
* Fidelity Institutional Cash Portfolio (NextEra Energy, Inc. Stock Fund)   4,145,167        **        4,145,167     
* Fidelity Institutional Cash Portfolio(NextEra Energy, Inc. Stock LESOP Fund)   7,228,596        **        7,228,596     
* Fidelity Institutional Cash Portfolio(Managed Income Fund)   2,020,594        **        2,020,594     
* Pimco High Yield Portfolio Institutional Class   240,838        **        1,791,838     
* Pimco Asset Back Secs Port-Unl   168,749        **        2,067,171     
* Pimco Emmerg Mkts Fd Inst CL   273,431        **        2,641,340     
* Pimco Intl Port Fund (unlisted)   1,509,509        **        7,351,310     
* Pimco Inv Grd Corp Port (unlisted)   1,281,678        **        12,855,229     
* Pimco Mtg Port Instl Cl (unlisted)   2,039,933        **        22,133,277     
* Pimco Muni Sectr Port Instl Cl   115,883        **        952,554     
* Pimco Real Retrn Bd Fd Inst Cl   1,257,963        **        11,032,332     
* Pimco Short Term Port Instl Cl   189,746        **        1,804,480     
* Pimco Short Tm Flt Nav Port II   854,339        **        8,550,220     
* Pimco US Govt Sector Port Inst   1,480,617        **        13,814,157     
* Pimco Paps Sr Floating Rate Portfolio   29,312        **        289,020     
             

 

 

    

 

 

 
Total Registered Investment Companies   -           $ 257,470,135     
             

 

 

    

 

 

 
U.S. Treasury Notes:
UST NOTES 0.625% 12/15/16   20,580,000        **        20,572,342     
USTN .75% 01/15/17   4,904,000        **        4,924,438     
USTN 1.5% 01/31/19   5,355,000        **        5,390,285     
USTN 1.625% 04/30/19   5,477,000        **        5,510,213     
USTN 0.875% 10/15/17   12,714,000        **        12,685,190     
USTN 0.375% 10/31/16   3,088,000        **        3,076,462     
USTN 1% 12/15/17   2,274,000        **        2,269,909     
USTN 1% 9/30/16   7,431,000        **        7,503,103     
USTN .875% 11/30/16   18,049,000        **        18,139,736     
USTN 1.375% 2/28/19   8,070,000        **        8,060,421     
USTN .875% 4/30/17   26,729,000        **        26,796,213     
USTN .750% 6/30/17   14,374,000        **        14,315,911     
UST NOTE .875% 1/31/18   11,434,000        **        11,379,388     
UST NOTES 1.625% 06/30/2019   14,889,000        **        14,926,891     
             

 

 

    

 

 

 
Total U.S. Treasury Notes   -           $ 155,550,502     
             

 

 

    

 

 

 
Government Agency Notes:
FHLB 0.875% 05/24/17   1,140,000        **        1,139,349     
FHLB 0.62% 11/23/16   1,890,000        **        1,889,782     
FNMA .875% 2/8/18   362,000        **        359,141     
FNMA 1.875% 09/18/18   4,725,000        **        4,827,521     
FNMA 1.625% 11/27/18   2,888,000        **        2,912,989     
FNMA 1.75% 11/26/19   11,762,000        **        11,788,517     
FHLMC 1.25% 5/12/17   1,250,000        **        1,261,715     
FHLMC .75% 1/12/18   558,000        **        552,001     
FHLMC 0.875% 02/22/17   1,752,000        **        1,760,428     
             

 

 

    

 

 

 
Total Government Agency Notes   -           $ 26,491,443     
             

 

 

    

 

 

 

 

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, 2014

 

    (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      
 
Mortgage Backed Securities:
BACM 2006-2 A4 CSTR 5/45   167,000        **        174,676     
BACM 2006-4 A1A CSTR 7/46   595,314        **        633,067     
BACM 2006-4 A4 5.634 7/46   313,332        **        329,302     
BSCMS 2005-PWR8 A4 4.674 6/41   295,953        **        298,465     
BSCMS 2005-T18 A4 4.933% 2/42   98,237        **        98,646     
BSCMS 2006-PW12 A1A CSTR 9/38   437,937        **        462,393     
BSCMS 2006-PW13 A1A 5.533 9/41   571,246        **        608,482     
BSCMS 2006-PW14 A1A 5.189   243,659        **        259,435     
BSCMS 2006-T22 A1A CSTR 4/38   579,963        **        608,208     
CD 06-CD2 A1B CSTR 1/46   936,816        **        971,707     
CD 2005-CD1 A4 CSTR 7/44   215,261        **        219,708     
CD 2007-CD5 A1A 5.8% 11/44   637,456        **        694,306     
CGCMT 2006-C5 A1A 5.425 10/49   793,638        **        845,126     
CGCMT 2006-C5 A4 5.431 10/49   330,000        **        350,938     
COMM 2012-CR1 A1 1.116% 5/45   6,929        **        6,937     
COMM 2012-CR1 A2 2.35% 5/45   320,000        **        325,502     
COMM 2012-CR2 A1 .824% 08/45   93,048        **        92,928     
COMM 2012-CR5 A1 0.673% 12/45   187,731        **        187,142     
COMM 2013-CR9 A1 1.3440% 7/45   125,960        **        126,834     
COMM 2014-CR17 A2 3.012% 05/47   490,000        **        508,167     
COMM 2014-CR18 A2 2.924% 07/47   380,000        **        391,032     
FHLG     5.50% 3/34 #G01665   128,333        **        145,048     
FHLG     5.50% 5/34 #Z40042   957,313        **        1,079,975     
FHLG     7.50% 7/34 #G02115   183,404        **        217,695     
FHLG 10YR 3.00% 8/21 #J16393   180,938        **        188,911     
FHLG 10YR 3.00% 8/21 #J16442   158,366        **        165,344     
FHLG 15YR  4.00% 4/26 #E02867   123,642        **        133,043     
FHLG 15YR  4.00% 9/25 #E02787   242,665        **        261,798     
FHLG 15YR  4.50% 8/18 #E98688   98,871        **        104,391     
FHLG 15YR  4.50% 9/18 #E99205   37,224        **        39,339     
FHLG 15YR  4.50% 10/18 #E99833   51,366        **        54,285     
FHLG 15YR  4.50% 11/18 #B10931   31,301        **        33,109     
FHLG 15YR  5.00% 3/19 #G13052   139,672        **        147,679     
FHLG 15YR  5.00% 4/20 #G13598   194,397        **        205,842     
FHLG 15YR  5.50% 4/18 #G11389   34,359        **        36,204     
FHLG 25YR  5.50% 7/35 #G05815   87,193        **        98,550     
FHLM AR 12M+187.9 10/42#849255   345,366        **        363,824     
FHLM ARM  2.98% 8/41 #1B8533   132,341        **        138,069     
FHLM ARM  3.07% 9/41 #1B8608   79,299        **        83,123     
FHLM ARM  3.58% 4/40 #1B4702   57,136        **        61,415     
FHLM ARM  4.199% 8/36 #848185   32,721        **        35,137     
FHLM ARM  4.941% 11/35 #1J1228   72,633        **        77,673     
FHLM ARM 3.224% 4/41#1B8179   40,805        **        42,928     
FHLM ARM 3.242% 9/1/41#1B8659   35,615        **        37,378     
FHLM ARM 3.283 6/1/41   50,679        **        53,094     
FHLM ARM 3.464% 5/1/41#1B8304   43,834        **        46,279     
FHLM ARM 3.53% 4/40 #1B4657   69,066        **        74,235     
FHLM ARM 3.627% 6/1/41#1B8372   59,520        **        62,984     
FHLM ARM 3.717% 05/41#1B8124   49,979        **        52,947     
CFGNR 2011-150 D 3% 4/37   36,682        **        37,342     
CGCMT 13-GC11 A1 0.672% 12/17   206,611        **        205,856     
COMM 06-C8 A4 5.306% 12/46   624,504        **        664,315     
COMM 2006-C7 A1A CSTR 6/46   674,416        **        711,940     
COMM 2006-C7 A4 CSTR 6/46   645,038        **        679,297     
COMM 2006-C8 A1A 5.292 12/46   508,996        **        546,090     
COMM 2013-LC6 A1 .7240% 1/46   155,124        **        154,405     
DBUBS 2011-LC3A A1 2.238 8/44   34,886        **        35,242     
FHR 2010-3645 KP 5% 02/40   471,751        **        525,460     
FHR 2011-3938 BE 2% 10/21   402,299        **        409,547     
FHR 2382 MB 6% 11/16   17,291        **        18,040     
FHR 3117 JF 1ML+30 2/36   158,840        **        159,585     
FHR 3696 AE 1.2% 7/15   7,913        **        7,919     
FHR 3741 HD 3% 11/15/39   210,356        **        217,313     
FHR 3763 QA 4% 4/34   218,819        **        229,793     
FHR 3820 DA 4% 11/35   230,575        **        246,345     
FHR 3943 EF 1ML+25 2/26   268,760        **        269,268     
FHR 4046 LA 3% 11/2026   607,222        **        632,719     
FHR 4176 BA 3% 2/33   334,731        **        346,281     
FHR 4181 LA 3% 3/37   476,333        **        492,802     
FHR SER 4221 CLS GA 1.4% 7/23   812,751        **        811,224     
FNR 2003-74 PG 4.5% 8/18   80,191        **        84,064     
FNR 2005-106 UF 1ML+30 11/35   152,513        **        153,374     
FNR 2005-90 FC 1ML+25 10/35   157,675        **        158,278     
FNR 2008-29 BG 4.7% 12/35   59,770        **        62,172     

 

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, 2014

 

    (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      
 
FNR 2008-95 AD 4.5% 12/23   182,553        **        189,950     
FNR 2010-123 DL 3.5% 11/25   67,369        **        69,706     
FNR 2010-135 DE 2.25% 4/24   165,267        **        169,158     
FNR 2010-143 B 3.5% 12/25   117,813        **        122,509     
FNR 2011-23 AB 2.75% 6/25/20   97,308        **        99,859     
FNR 2011-88 AB 2.5% 9/26   127,229        **        130,488     
FNR 2011-99 DV 5% 01/26   456,474        **        486,997     
FNR 2012-15 FP 1ML+38 6/40   498,046        **        500,322     
FNR 2013-16 GP 3% 03/33   680,456        **        707,105     
FNR 2013-9 FA 1ML+35 03/42   756,946        **        760,508     
GECMC 2005-C2 A4 CSTR 5/43   624,690        **        628,424     
GECMC 2006-C1 A1A CSTR 3/44   653,072        **        681,802     
GECMC 2006-C1 A4 CSTR 3/44   499,837        **        514,460     
GMACC 2004-C2 A4 5.301% 8/38   2,783        **        2,799     
GNR 13-41 PA 2.5% 04/40   422,905        **        434,325     
GNR 2010-112 PM 3.25% 9/33   7,544        **        7,567     
GNR 2010-120 FB 1ML+30 9/35   142,846        **        143,123     
GNR 2010-99 PT 3.5% 8/33   9,181        **        9,212     
GSMS 2006-GG6 A1A CSTR 4/38   319,662        **        332,987     
GSMS 2006-GG6 A4 CSTR 4/38   647,000        **        666,921     
GSMS 2006-GG8 A1A 5.547 11/39   326,724        **        349,378     
GSMS 2006-GG8 A4 5.56% 11/39   387,456        **        411,981     
GSMS 2012-GC6 A1 1.282% 1/45   49,926        **        50,158     
GSMS 2013-GC10 A1 .696% 2/46   45,221        **        45,075     
GSMS 2013-GC10 A2 1.84% 2/46   160,000        **        160,466     
GSMS 2013-GC12 A1 VAR 06/46   204,989        **        203,352     
* JPMCC 2005-LDP2 A3 4.697 7/42   941        **        945     
* JPMCC 2006-CB16 A1A 5.546 5/45   904,561        **        962,214     
* JPMCC 2006-LDP7 A1A CSTR 4/45   699,402        **        742,645     
* JPMCC 2006-LDP7 A4 CSTR 4/45   420,000        **        440,671     
* JPMCC 2007-LD11 A2 CSTR 6/49   4,657        **        4,670     
* JPMCC 2012-C6 A2 2.2058% 5/45   370,000        **        377,521     
* JPMCC 2013-C10 .7302% 12/15/47   153,639        **        152,481     
FNMA     6.50% 7/32 #545759   30,594        **        35,755     
FNMA     6.50% 7/32 #545762   18,183        **        21,249     
FNMA     6.50% 7/35 #745092   19,265        **        22,480     
FNMA     6.50% 8/36 #888034   26,171        **        30,568     
FNMA     6.50% 12/32 #735415   18,284        **        21,361     
FNMA 15YR 3.50% 1/26 #AL1168   197,361        **        210,442     
FNMA 15YR 3.50% 3/27 #AL1746   820,912        **        875,576     
FNMA 15YR 6.00% 12/16 #545375   2,569        **        2,674     
FNMA 15YR 6.00% 12/17 #254547   1,045        **        1,107     
FNMA 15YR 6.50% 8/15 #535511   1,334        **        1,353     
FNMA 15YR 7.00% 11/18 #555999   781        **        816     
FNMA 5.50% 11/34 #310105   684,466        **        772,255     
FNMA 6.50% 12/35 #AD0723   103,072        **        120,380     
FNMA 6.50% 8/36 #888544   87,865        **        102,375     
FNMA 6.50% 8/36 #AE0746   78,843        **        90,233     
FNMA ARM   2.57% 10/41 #AH5261   153,052        **        159,262     
FNMA ARM   2.61% 4/35 #995609   32,601        **        34,957     
FNMA ARM   2.69% 9/41 #AH5260   221,364        **        231,497     
FNMA ARM   3.01% 8/41 #AI4358   45,215        **        47,174     
FNMA ARM   3.47% 3/40 #AD0820   64,691        **        69,307     
FNMA ARM   3.60% 3/40 #AD1555   99,600        **        107,058     
FNMA ARM   4.21% 5/35 #889946   87,368        **        92,909     
FNMA ARM   4.285% 7/33#AD0066   30,691        **        32,658     
FNMA ARM   4.30% 2/35 #995017   725,614        **        770,939     
FNMA ARM   4.53% 12/34 #802852   61,918        **        66,160     
FNMA ARM   4.68% 11/34 #735011   66,572        **        71,160     
FNMA ARM 06/42#AO2244   61,515        **        63,606     
FNMA ARM 09/41#AI9813   35,523        **        37,167     
FNMA ARM 10/41#AJ3399   15,870        **        16,642     
FNMA ARM 11/40#AE6806   31,924        **        33,565     
FNMA ARM 3.228% 7/41#AI3469   62,250        **        65,573     
FNMA ARM 3.365% 10/41#AI6819   29,274        **        30,864     
FNMA ARM 3.545% 07/41#AI6050   65,914        **        69,667     
FNMA ARM 4.512% 12/36 #995606   102,406        **        109,465     
FNMA ARM 4.53% 10/35 #995414   82,683        **        88,069     
FNMA ARM 4.55% 10/35 #995415   334,290        **        356,985     
GNMA 30YR 5.5% 06/35#783800   122,435        **        139,898     
LBUBS 2006-C6 A1A CSTR 9/39   582,508        **        617,477     
LBUBS 2006-C6 A4 5.372% 9/39   381,000        **        403,901     
LBUBS 2007-C7 A3 5.886% 9/45   278,828        **        307,244     
MLCFC 2006-3 A4 CSTR 7/46   1,335,714        **        1,413,019     
MLMT 2005-CKI1 A1A CSTR 11/37   166,244        **        171,525     
MLMT 2006-C2 A1A CSTR 8/43   549,091        **        583,549     

 

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, 2014

 

    (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 2014-C14 A2 2.916% 1/47   566,000        **        585,018     
MSC 2006-HQ9 A4 CSTR 7/44   428,972        **        452,378     
MSC 2006-IQ11 A1A CSTR 10/42   571,754        **        600,986     
MSC 2007-IQ13 A1A 5.312% 3/44   201,969        **        217,322     
MSC 2007-T27 A1A CSTR 6/42   768,261        **        835,540     
UBSBB 2012-C2 A1 1.006% 5/63   212,213        **        212,423     
UBSBB 2012-C4 A1 .6728 12/45   164,078        **        163,270     
UBSBB 2013-C6 A1 .805% 4/46   173,993        **        172,912     
UBSCM 2012-C1 A1 1.032% 5/45   85,150        **        85,455     
UBSCM 2012-C1 A2 2.180% 5/45   330,000        **        335,882     
WBCMT 2006-C23 A1A CSTR 1/45   624,817        **        651,735     
WBCMT 2006-C23 A5 CSTR 1/45   680,000        **        707,548     
WBCMT 2006-C24 A1A CSTR 3/45   534,885        **        559,940     
WBCMT 2006-C25 A1A CSTR 5/43   461,187        **        482,867     
WBCMT 2006-C25 A5 CSTR 5/43   180,000        **        189,369     
WBCMT 2006-C26 A1A CSTR 6/45   578,679        **        615,629     
WBCMT 2006-C27 A3 CSTR 7/45   196,010        **        206,238     
WBCMT 2006-C29 A1A 5.297 11/48   865,107        **        926,535     
WBCMT 2007-C31A A2 5.421% 4/47   34,168        **        34,299     
WFCM 2013-LC12 A1 1.676% 7/46   552,624        **        553,622     
WFRBS 13-C14 A1 .836% 6/15/46   126,542        **        126,058     
WFRBS 2011-C5 A1 1.456 11/44   44,400        **        44,691     
WFRBS 2012-C8 A1 .864% 8/45   146,302        **        146,319     
WFRBS 2012-C8 A2 1.881% 8/45   360,000        **        363,705     
WFRBS 2013-C11 A1 .799% 03/45   94,112        **        93,923     
WFRBS 2013-C14 A2 2.133% 6/46   150,000        **        151,426     
             

 

 

    

 

 

 
Total Mortgage Backed Securities   $ -            $ 48,666,761     
             

 

 

    

 

 

 
Asset Backed Securities:
ALLYA 2013-1 A3 .63% 5/15/17   738,493        **        738,838     
ALLYL 2014-SN1 A3 .75% 02/17   387,000        **        386,411     
AMXCA 2012-2 A .68% 3/18   1,910,000        **        1,912,038     
AMXCA 2012-5 A 0.59% 5/18   2,770,000        **        2,769,981     
AMXCA 2013-3 A .98% 05/19   696,000        **        696,063     
AMXCA 2014-2 A 1.26% 1/20   681,000        **        679,750     
AMXCA 2014-3 A 1.49% 04/20   980,000        **        981,538     
BMWLT 2014-1 A3 .73% 02/17   630,000        **        629,565     
CARMX 2013-3 A3 .97% 11/15/16   550,000        **        551,397     
CARMX 2014-3 A3 1.16% 06/19   411,000        **        409,667     
CARMX 2014-4 A3 1.25% 11/19   332,000        **        331,274     
CCCIT 13-A3 A3 1.11% 7/23/18   610,000        **        614,656     
CCCIT 2013-A6 A6 1.32% 09/18   756,000        **        763,351     
CCCIT 2014 A2 1.02% 02/19   1,032,000        **        1,031,804     
CCCIT 2014-A4 A4 1.23% 04/19   685,000        **        685,495     
CCCIT 2014-A6 A6 2.15% 07/21   662,000        **        668,422     
CCCIT 2014-A8 A8 1.73% 04/20   650,000        **        653,958     
CHAIT 2012-A8 A8 0.54% 10/17   2,270,000        **        2,269,423     
CHAIT 2013-A8 A8 1.01% 10/18   762,000        **        762,328     
CHAIT 2014-A1 A 1.15% 01/19   1,890,000        **        1,890,038     
CHAIT 2014-A7 A 1.38% 11/19   829,000        **        826,214     
COMET 2013-A1 A1 .63% 11/18   2,034,000        **        2,032,969     
COMET 2013-A3 A3 .96% 9/19   894,000        **        891,089     
COMET 2014-A2 A2 1.26% 01/20   690,000        **        689,545     
COMET 2014-A5 A 1.48% 07/20   1,640,000        **        1,641,448     
DCENT 2013-A2 A2 .69% 07/18   1,850,000        **        1,848,249     
DCENT 2013-A5 A5 1.04% 04/19   758,000        **        757,604     
DCENT 2014-A3 A3 1.22% 10/19   685,000        **        684,203     
DCENT 2014-A4 A4 2.12% 12/21   639,000        **        641,026     
DCENT 2014-A5 A 1.39% 04/20   1,305,000        **        1,303,081     
FORDL 2013-B A3 .76% 09/16   290,000        **        290,281     
FORDL 2014-A A3 .68% 04/17   331,000        **        330,799     
FORDO 2013-A A3 .55% 07/17   397,146        **        397,153     
GEMNT 2012-1 A 1.03% 1/18   730,000        **        730,477     
GEMNT 2012-5 A 0.95% 6/15/18   980,000        **        981,983     
HAROT 2013-1 A3 .48% 12/15   664,378        **        664,369     
HAROT 2013-2 A3 .53% 2/17   270,000        **        270,055     
HAROT 2013-3 A3 0.77% 05/17   450,000        **        450,541     
HART 2013-A A3 0.56% 7/17   460,371        **        460,645     
HART 2013-B A3 .71% 09/17   660,000        **        660,638     
HART 2013-C A3 1.01% 02/18   210,000        **        210,698     

 

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, 2014

 

    (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      
 
HART 2014-A A3 0.79% 07/18   344,000        **        343,687     
MBALT 2013-B A3 0.62% 07/16   580,000        **        580,405     
MBALT 2014-A A3 .68% 12/16   510,000        **        510,130     
MBART 2013-1 A3 0.78% 08/17   470,000        **        470,827     
NALT 2012-B A4 0.74% 9/18   199,000        **        199,125     
NALT 2014-A A3 .80% 02/17   373,000        **        372,883     
NAROT 2013-B A3 0.84% 11/17   660,000        **        660,880     
NEF 2005-1 A5 4.74% 10/45   133,337        **        132,808     
SLMA 2012-7 A2 1ML+28 9/19   370,000        **        369,502     
VALET 2013-1 A3 .56% 8/17   553,709        **        553,297     
VALET 2013-2 A3 0.7% 04/18   752,000        **        749,919     
VALET 2014-1 A3 .91% 10/22/18   454,000        **        452,054     
VWALT 2013-A A3 0.84% 07/16   490,000        **        490,954     
VWALT 2014-A A3 .80% 4/20/17   517,000        **        515,477     
WOART 2013-A A3 .64% 4/16/18   320,000        **        319,889     
WOART 2014-B A3 1.14% 1/20   602,000        **        598,978     
WOLS 2013-A A3 1.10% 12/16   700,000        **        702,914     
WOLS 2014-A A3 1.16% 09/17   463,000        **        464,224     
             

 

 

    

 

 

 
Total Asset Backed Securities   $         44,677,017     
             

 

 

    

 

 

 
Corporate Bonds:
APPLE INC 1% 5/3/18   1,388,000        **        1,368,291     
APPLE INC 2.85% 5/6/21   510,000        **        523,930     
AUSTRALIA & NZ 1.875% 10/06/17   393,000        **        398,330     
AUSTRALIA & NZ 1.45% 5/15/18   370,000        **        365,938     
ANZ NY BRAN 1.25% 1/10/17   350,000        **        352,205     
AUST & NZ BKG NY 2.25% 6/13/19   710,000        **        714,200     
BANK NOVA SCOTIA 2.8% 07/21/21   500,000        **        506,431     
BANK OF MONTREL 2.375% 1/25/19   400,000        **        407,961     
BANK OF NY MTN 2.4% 1/17/17   930,000        **        962,781     
BERK HATH INC 1.9% 1/31/17   740,000        **        756,617     
BERKSHIRE HTHWY INC 2.1% 08/19   1,000,000        **        1,014,292     
BK NOVA SCOTIA 1.375 12/18/17   603,000        **        599,497     
BK OF NOVA SCOTIA 2.05% 6/5/19   1,000,000        **        997,866     
CHEVRON CORP NE 1.104% 12/5/17   740,000        **        736,913     
CISCO SYSTEMS I 1.1% 03/17   700,000        **        703,055     
CISCO SYSTEMS INC 2.125% 3/19   690,000        **        698,134     
COCA-COLA CO 1.15% 04/01/18   760,000        **        753,460     
COLGATE-PALMOLIVE 0.9% 5/1/18   483,000        **        472,713     
COMMONWEALTH BK NY 1.4% 09/17   320,000        **        319,691     
COMMONWEALTH BK NY 2.3% 9/6/19   650,000        **        655,082     
COMMONWEALTH NY 2.25% 03/13/19   681,000        **        688,770     
GENERAL ELE CAP CR 1.5 7/12/16   2,070,000        **        2,106,476     
GENERAL ELEC CO 3.375% 3/11/24   602,000        **        628,103     
HSBC USA INC 2.625% 09/24/18   198,000        **        204,485     
INTL FIN CORP .875% 06/15/18   1,321,000        **        1,299,049     
* JPMORGAN CHASE 3.15% 7/05/16   481,000        **        501,960     
MANITOBA (PROV) 1.125% 6/1/18   950,000        **        940,440     
MICROSOFT CORP .875% 11/15/17   117,000        **        115,973     
MICROSOFT CORP 1.625% 12/06/18   1,000,000        **        1,002,217     
MIDAMERICAN ENE 2.4% 03/15/19   750,000        **        766,813     
PEPSICO INC 7.9% 11/01/18   335,000        **        411,970     
PROCTER & GAMBLE 1.6% 11/15/18   689,000        **        688,706     
PUBLIC SVC ELEC 1.8% 06/01/19   700,000        **        694,551     
RABOBANK NDL 1.7% 3/19/18   760,000        **        762,332     
ROYAL BANK CAN 1.45% 09/09/16   329,000        **        332,901     
ROYAL BANK OF CAN 1.2% 1/23/17   451,000        **        453,070     
ROYAL BK CAN GL .85% 03/08/16   550,000        **        551,775     
ROYAL BK CAN GL 1.5% 01/14/18   603,000        **        603,846     
ROYAL BK CANADA 2.3% 7/20/16   213,000        **        219,618     
ROYAL BK CDA 2.2% 7/27/18   769,000        **        784,773     
ROYAL BK OF CDA 2.15% 03/15/19   340,000        **        343,727     
SAN DIEGO G&E 3% 8/15/21   550,000        **        570,066     
SHELL INTL FIN 1.125% 8/21/17   590,000        **        591,435     
SUMITOMO BKG 2.25% 07/11/19   500,000        **        500,560     
SUMITOMO BKG 2.45% 1/10/19   430,000        **        436,951     
SUMITOMO MITSUI BKG 1.8% 7/17   944,000        **        953,131     
TORONTO DOM 1.4% 4/30/18   760,000        **        757,041     
TORONTO DOM BK 2.125% 7/02/19   340,000        **        341,997     
TORONTO DOM BK 2.5% 7/14/16   717,000        **        742,989     
TORONTO DOMINI 2.375% 10/19/16   767,000        **        788,623     
TORONTO DOMINI 2.625% 09/10/18   754,000        **        779,257     
TORONTO DOMINION 2.25% 11/5/19   490,000        **        492,689     
TOTAL CAP CDA L 1.45% 01/15/18   416,000        **        415,844     

 

22


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, 2014

 

    (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      
 
TOTAL CAP INTL 1.55% 6/28/17   390,000        **        391,406     
TOTAL CAP INTL 2.125% 01/10/19   700,000        **        709,342     
TOTAL CAP INTL 2.75% 06/19/21   340,000        **        341,583     
TOTAL CAPITAL SA 1.5% 2/17/17   390,000        **        394,789     
TOYOTA MOTOR CR 2% 10/24/18   700,000        **        709,363     
TOYOTA MOTOR CRDIT 2.125% 7/19   500,000        **        506,293     
US BANK NA 1.1% 01/30/17   700,000        **        702,684     
US BANK NA CIN 2.125% 10/19   1,451,000        **        1,451,692     
WAL MART STORES 3.3% 04/22/24   342,000        **        355,283     
WAL-MART STORES 1.125% 4/18   762,000        **        755,166     
WELLS FARGO & CO 2.15% 1/15/19   642,000        **        650,063     
WELLS FARGO 1.5% 01/18   1,500,000        **        1,502,105     
WELLS FARGO 3% 01/22/21   635,000        **        655,345     
WELLS FARGO&COM 3.676% 6/15/16   650,000        **        681,429     
WESTPAC BANK CORP 1.2% 5/19/17   680,000        **        677,977     
WESTPAC BANKING 1.5% 12/01/17   330,000        **        330,055     
WESTPAC BANKING CRP 2% 8/14/17   703,000        **        717,689     
WPACBKG 1.6% 1/12/18   402,000        **        404,995     
            

 

 

    

 

 

 
Total Corporate Bonds   -           $ 46,716,784     
            

 

 

    

 

 

 
Wrapper Contracts:
GIC State Street Bank and Trust Company Boston Contract # 107049   **        35,361     
GIC Monumental Life Insurance Company Contract # MDA01058TR-00   **        36,551     
            

 

 

    

 

 

 
Total Wrapper Contracts   -           $ 71,912     
            

 

 

    

 

 

 
  3.25%     
* Participant loans   Maturing 2015 - 2020        **        71,873,571     
            

 

 

    

 

 

 
Total investments at year end        282,088,752                3,674,591,301     
            

 

 

    

 

 

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

 

23


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 24, 2015

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      

 

24


Table of Contents

EXHIBIT INDEX

 

Exhibit

  Number  

Description

23(a) Consent of Crowe Horwath LLP

 

25