Form 11-K
Table of Contents

 

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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, 2015

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, 2015 AND 2014

TABLE OF CONTENTS

 

     Page No.  

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

     1   

FINANCIAL STATEMENTS

  

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 2015 AND 2014

     2-3   

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2015

     4   

NOTES TO FINANCIAL STATEMENTS

     5   

SUPPLEMENTAL SCHEDULE

  

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

     15   

SIGNATURE

     28   

EXHIBIT INDEX

     29   

EXHIBIT 23(a) – CONSENT OF CROWE HORWATH LLP

  


Table of Contents

LOGO

  

Crowe Horwath LLP

Independent Member Crowe Horwath International

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Participants and the Employee Benefit Plans

    Administrative Committee

NextEra Energy, Inc. Employee Retirement Savings Plan

Juno Beach, Florida

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, 2015 and 2014, and the related statement of changes in net assets available for benefits for the year ended December 31, 2015. 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, 2015 and 2014, and the changes in net assets available for benefits for the year ended December 31, 2015 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, 2015 has been subjected to audit procedures performed in conjunction with the audit of NextEra Energy, Inc. Employee Retirement Savings Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information presented in the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated in all material respects in relation to the financial statements as a whole.

 

LOGO

Crowe Horwath LLP

Columbus, Ohio

June 20, 2016

 

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Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2015 AND 2014

 

     December 31, 2015  
            Nonparticipant-Directed         
     Participant-
Directed
     Allocated      Unallocated      Total  

ASSETS

           

Investments, at fair value (see Note 7)

           

Registered investment companies

   $ 259,161,413       $ 7,388,939       $ –         $ 266,550,352   

Collective trust funds

     1,261,798,137         –           –           1,261,798,137   

Common stock other than NextEra Energy, Inc. common stock

     356,182,868         –           –           356,182,868   

NextEra Energy, Inc. common stock

     398,691,869         864,544,426         10,535,693         1,273,771,988   

Corporate bonds

     28,560         –           –           28,560   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total investments, at fair value

     2,275,862,847         871,933,365         10,535,693         3,158,331,905   

Investments, at contract value (see Note 8)

     307,451,143         –           –           307,451,143   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total investments

     2,583,313,990         871,933,365         10,535,693         3,465,783,048   
  

 

 

    

 

 

    

 

 

    

 

 

 

Receivables

           

Participant loans

     71,861,913         –           –           71,861,913   

Pending trades due from brokers

     630,660         –           –           630,660   

Other receivables

     2,443,708         –           58         2,443,766   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total receivables

     74,936,281         –           58         74,936,339   

Non-interest bearing cash

     649,288         9         –           649,297   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total assets

     2,658,899,559         871,933,374         10,535,751         3,541,368,684   
  

 

 

    

 

 

    

 

 

    

 

 

 

LIABILITIES

           

Leveraged ESOP note:

           

Current

     –           –           3,340,882         3,340,882   

Interest payable (Leveraged ESOP)

     –           –           10,791         10,791   

Pending trades due to brokers

     498,776         –           –           498,776   

Other payables

     2,159,337         56,444         –           2,215,781   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total liabilities

     2,658,113         56,444         3,351,673         6,066,230   
  

 

 

    

 

 

    

 

 

    

 

 

 
           
  

 

 

    

 

 

    

 

 

    

 

 

 

NET ASSETS AVAILABLE FOR BENEFITS

   $ 2,656,241,446       $ 871,876,930       $ 7,184,078       $ 3,535,302,454   
  

 

 

    

 

 

    

 

 

    

 

 

 

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

 

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Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2015 AND 2014

 

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

ASSETS

           

Investments, at fair value (see Note 7)

           

Registered investment companies

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

Collective trust funds

     1,294,265,738         –           –           1,294,265,738   

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   

Interest bearing cash

     30,224         –           –           30,224   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total investments, at fair value

     2,294,605,770         882,316,823         102,892,653         3,279,815,246   

Investments, at contract value (see Note 8)

     316,753,118         –           –           316,753,118   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total investments

     2,611,358,888         882,316,823         102,892,653         3,596,568,364   
  

 

 

    

 

 

    

 

 

    

 

 

 

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

     2,684,990,180         882,316,832         102,892,679         3,670,199,691   
  

 

 

    

 

 

    

 

 

    

 

 

 

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 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.

 

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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

FOR THE YEAR ENDED DECEMBER 31, 2015

 

           Nonparticipant-Directed        
     Participant-
Directed
    Allocated     Unallocated     Total  

Additions to net assets attributed to:

        

Net depreciation in fair value of investments

   $ (16,939,392   $ (19,139,696   $ (4,070,790   $ (40,149,878

Interest income

     8,551,040        –          187        8,551,227   

Dividend income

     23,654,597        25,115,425        1,925,881        50,695,903   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net investment income/(loss)

     15,266,245        5,975,729        (2,144,722     19,097,252   

Contributions

        

Participant

     134,730,720        –          –          134,730,720   

Employer

     –          –          2,202,870        2,202,870   

Allocation of Leveraged ESOP shares

     –          63,175,481        –          63,175,481   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total contributions

     134,730,720        63,175,481        2,202,870        200,109,071   

Transfer from/to nonparticipant-directed investments

     36,280,372        1,499,900        –          37,780,272   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total net additions

     186,277,337        70,651,110        58,148        256,986,595   

Deductions from net assets attributed to:

        

Interest expense

     –          –          1,886,027        1,886,027   

Benefit payments to participants and beneficiaries

     207,169,217        44,102,971        –          251,272,188   

Management and administrative expenses

     3,915,948        353,834        –          4,269,782   

Transfer from/to participant directed investments

     1,499,900        36,280,372        –          37,780,272   

Decrease in Leveraged ESOP unallocated account

     –          –          63,175,481        63,175,481   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total deductions

     212,585,065        80,737,177        65,061,508        358,383,750   

Net decrease

   $ (26,307,728   $ (10,086,067   $ (65,003,360   $ (101,397,155

Net assets available for benefits at December 31, 2014

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

 

 

   

 

 

   

 

 

   

 

 

 

Net assets available for benefits at December 31, 2015

   $ 2,656,241,446      $ 871,876,930      $ 7,184,078      $ 3,535,302,454   
  

 

 

   

 

 

   

 

 

   

 

 

 

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

 

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Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

1.

Description of the Plan

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

General

The Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The Plan includes a cash or deferred 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 or distribution of dividends in cash. 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. Effective January 1, 2016, all non-bargaining and certain bargaining unit employees can make Roth after-tax contributions to the Plan, subject to the 50% limit above. In addition, employees 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 pretax catch up contribution in accordance with Code Section 414(v). Effective January 1, 2016, all non-bargaining and certain bargaining unit employees age 50 or older can also make Roth catch-up contributions, subject to the same limitations above.

 

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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

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 or rehire. All non-bargaining eligible employees and bargaining unit eligible employees at the NextEra Energy Resources Operating Services, Inc.’s Jamaica Bay Bayswater Plant, bargaining unit eligible employees at NextEra Energy Duane Arnold, LLC (NextEra Energy Duane Arnold) in the International Union, Security Police and Fire Professionals of America local 214 and bargaining unit eligible employees at NextEra Energy Point Beach (not represented by IBEW 2150) hired on rehired on or after January 1, 2015 are 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 or rehire. NextEra Energy Maine Operating Services, LLC (Nextera Energy Maine) bargaining unit eligible employees hired on or after July 1, 2015 are 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 or rehire.

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, 2015 and 2014.

 

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 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 2150

      

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 2015 the Company contributed cash of $2,202,870 for required principal and interest payments on Acquisition Indebtedness. Contributions are subject to certain limitations. In March 2016, all of the remaining shares in the Leveraged ESOP suspense account used for match were allocated to participants. The Company is continuing to provide matching contributions in the form of Company Stock.

 

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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

Forfeitures

Forfeitures of non-vested Company matching contributions due to termination of employment may be used to restore amounts previously forfeited or to reduce the amount of future Company matching contributions to the Plan or may be applied to administrative expenses. Forfeitures used to reduce employer contributions in 2015 totaled $1,499,900 and forfeitures applied to administrative fees in 2015 totaled $260,271. At December 31, 2015 and 2014, the balance of the forfeiture account was $153,105 and $266,936, respectively.

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 hired prior to August 1, 2006, Company matching contributions are fully vested upon attaining six months of service.

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 any outstanding loans), whichever is less. The vested portion of a Participant’s account will be pledged as security for the loan. Participants may not have more than two loans outstanding from the Plan at any time. Participant loans have a fixed annual interest rate based on the prime rate as of the first business day of the month in which the loan is originated. Loans outstanding at December 31, 2015 carry an interest rate of 3.25% and mature between 2016 and 2021.

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. Additionally, Plan participants pay a fee of $63 per year to cover some of the administrative expenses of the Plan. All other expenses are paid directly by the Plan through forfeitures or revenue sharing that the Plan receives either directly or indirectly from certain of the Plan’s investment options. Any fees paid directly by the Company are not included in the financial statements.

 

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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

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. The Acquisition Indebtedness was repaid in March 2016. 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.

Recent Accounting Pronouncements

In 2015, the Financial Accounting Standards Board issued two amendments to accounting principles generally accepted in the United States which simplify employee benefit plan reporting and plan investment disclosures and enhance consistency in the categorization of investments in the fair value hierarchy. The amendments are effective for periods beginning after December 15, 2015 and early adoption is permitted with retrospective application for comparative periods.

The first amendment removes requirements to show investments in the fair value hierarchy for which fair value is measured using the net asset value per share practical expedient. The removal of these requirements is due to diversity in practice in fair value levelling for these investments, particularly those with future redemption dates. The Plan Sponsor has chosen not to early adopt this amendment and is currently evaluating the effect the adoption of this amendment will have on the Plan’s financial statements.

Under the second amendment, benefit plan reporting was simplified with respect to fully-benefit-responsive investment contracts which are now to be measured, presented and disclosed at contract value. Additionally, Plan investment disclosures have been simplified by eliminating previously required disaggregation of net appreciation or depreciation in investments by general type, no longer requiring disclosure of investments representing 5% or more of net assets available for benefits, and no longer requiring that investments in the fair value hierarchy be disclosed by nature, characteristics and risk. The Plan Sponsor has chosen to early adopt these changes and the impact of the adoption has been reflected in the presentation of the statements of net assets available for benefits or the statement of changes in net assets available for benefits. The financial impact of adopting the amendment had no effect on the Plan’s total net assets available for benefits. Amounts previously reported at December 31, 2014 reflect a reduction in Total investments in the Statements of Net Assets Available for Benefits, at fair value of $322,902,484, the removal of the adjustments from fair value to contract value for fully benefit-responsive investment contracts of ($6,149,366) and the net result is reported as Investments, at contract value in the amount of $316,753,118, in the Statements of Net Assets Available for Benefits. The impact of the revisions to disclosures has been reflected in Note 2, Note 7, and Note 8.

Investment Valuation

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

In some cases, a valuation 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.

 

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Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

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, common stock and other: 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).

There are also investments in registered investment companies which 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. The investment objectives of the short term investment funds is to provide daily liquidity and invest directly or indirectly in mortgage and asset-backed securities, collateralized mortgage obligations and commercial mortgage-backed 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 inputs).

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

Investment contracts (wrapper contracts): The Managed Income Fund holds fully benefit-responsive investment contracts (wrapper contracts) (see Note 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 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.

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

 

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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

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. The Company Stock acquired by the Master Trust (held in the Trust since December 31, 2013) 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 held by EMB Investments, Inc. (the Lender) which is a wholly-owned subsidiary of NextEra Energy Capital Holdings, Inc. The Leveraged ESOP Note carries a fixed interest rate of 9.69% per annum. The Leveraged ESOP Note is 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 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 were allocated to Participants’ accounts under the Plan. In 2015, dividends received from shares held by the Leveraged ESOP account and shares allocated to Participants’ accounts totaled $1,925,881 and $25,115,425, respectively. Employer contributions for the 2015 debt service shortfall totaled $2,202,870.

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 2015, 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 2015, 866,625 shares of Company Stock were released from collateral for the Leveraged ESOP Note. The 866,625 shares consisted of 464,879 shares to provide Company matching contributions, 148,169 shares allocated in accordance with the terms of the plan and 253,577 shares to restore dividends on allocated Leveraged ESOP shares used to repay the Leveraged ESOP Note.

 

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Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

The Leveraged ESOP Note, with carrying values of $3,340,882 and $30,606,382 at December 31, 2015 and 2014, 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  

2016

   $ 3,340,882   

In accordance with the terms of the Leveraged ESOP Note, the final principal payment was made in March of 2016.

 

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 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, 2015 and 2014, 101,412 and 968,037 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, 2015 and 2014, the number of shares of Company Stock held in Participants’ accounts totaled 12,159,364 and 12,210,317, respectively, with a fair value of $1,263,236,295 and $1,297,834,619, respectively. During 2015, dividends on shares of Company Stock held in Participants’ accounts totaled $37,158,260 and dividends on shares of Company Stock held in the Leveraged ESOP account totaled $1,925,881.

Certain fees were paid by the Plan to the managers of the investments held in the Plan and certain Plan investments are managed by an affiliate of the Trustee or investment advisors of the Plan. These transactions qualify as party-in-interest transactions. The Plan also pays for various administrative expenses to service providers which constitute party-in-interest transactions. Additionally, the Plan reimburses the Company for a portion of the costs incurred in the administration of the Plan which are considered party-in-interest transactions. Participant Loans held by the Plan of $71,861,913 and $71,873,571 at December 31, 2015 and December 31, 2014, respectively, are also considered party-in-interest transactions.

 

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NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

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, 2015:

 

     Fair Value Measurements
At December 31, 2015 using
 
     Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
     Significant
Other
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Participant-directed investments:

           

Registered investment companies

   $ 259,161,413       $ –         $ –         $ 259,161,413   

Collective trust funds

     –           1,261,798,137         –           1,261,798,137   

Common stock other than NextEra Energy, Inc. common stock

     356,182,868         –           –           356,182,868   

NextEra Energy, Inc. common stock

     398,691,869         –           –           398,691,869   

Corporate bonds

     –           28,560         –           28,560   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total participant-directed investments

     1,014,036,150         1,261,826,697         –           2,275,862,847   

Nonparticipant-directed investments (Leveraged ESOP):

           

NextEra Energy, Inc. common stock

     875,080,119         –           –           875,080,119   

Registered investment companies

     7,388,939         –           –           7,388,939   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total nonparticipant-directed investments

     882,469,058         –           –           882,469,058   

Total investments in the fair value hierarchy

     1,896,505,208         1,261,826,697         –           3,158,331,905   
  

 

 

    

 

 

    

 

 

    

 

 

 

Investments at contract value

              307,451,143   
           

 

 

 

Total investments

            $ 3,465,783,048   
           

 

 

 

During the 2015 Plan year there were no transfers between Level 1 and Level 2 investments.

 

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Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

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:

           

Registered investment companies

   $ 164,958,609       $ 85,282,930       $ –         $ 250,241,539   

Collective trust funds

     –           1,294,265,738         –           1,294,265,738   

Common stock other than NextEra Energy, Inc. common stock

     327,321,877         –           –           327,321,877   

NextEra Energy, Inc. common stock

     422,746,392         –           –           422,746,392   

Interest bearing cash

     –           30,224         –           30,224   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total participant-directed investments

     915,026,878         1,379,578,892         –           2,294,605,770   

Nonparticipant-directed investments (Leveraged ESOP):

           

NextEra Energy, Inc. common stock

     977,980,880         –           –           977,980,880   

Registered investment companies

     7,228,596         –           –           7,228,596   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total nonparticipant-directed investments

     985,209,476         –           –           985,209,476   

Total investments in the fair value hierarchy

     1,900,236,354         1,379,578,892         –           3,279,815,246   
  

 

 

    

 

 

    

 

 

    

 

 

 

Investments at contract value

              316,753,118   
           

 

 

 

Total investments

            $ 3,596,568,364   
           

 

 

 

During the 2014 Plan year there were no transfers between Level 1 and Level 2 investments.

 

8.

Managed Income Fund

The contract value of fully benefit-responsive investment contracts was $307,451,143 and $316,753,118, respectively, at December 31, 2015 and 2014. The contract value of fully benefit-responsive investment contracts excludes short term investments in registered investment companies that are not covered by the wrapper contracts. These investments are reported at fair value in the amount of $3,101,673 and $2,020,594, respectively, at December 31, 2015 and 2014.

 

9.

Income Taxes

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

 

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Table of Contents

NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

Company matching contributions to the Plan on a Participant’s behalf, the Participant’s Pretax Contributions, and the earnings thereon generally are not taxable to the Participant until such Company matching contributions, Pretax Contributions, and earnings thereon are distributed or withdrawn. Participant’s Roth after-tax contributions and the earnings thereon generally are not taxable to the Participant if made as a qualified withdrawal. 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, 2015 and 2014, 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 2012.

 

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 for December 31, 2014. As of December 31, 2015, fully benefit-responsive investment contracts will be reported at contract value on Form 5500 and reported at contract value in the statements of net assets available for benefits.

 

     December 31,
2014
 

Net assets available for benefits per the financial statements

   $ 3,636,699,609   

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

     6,149,366   
  

 

 

 

Net assets per Form 5500

   $ 3,642,848,975   
  

 

 

 

The following is a reconciliation of the change in net assets available for benefits per the financial statements to the Form 5500 for December 31, 2015:

 

     December 31,
2015
 

Decrease in net assets available for benefits per the financial statements

   $ (101,397,155

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

     (6,149,366
  

 

 

 

Net income per Form 5500

   $ (107,546,521
  

 

 

 

 

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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, 2015

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

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

Common Stock:

        
  

MOBILEYE NV

     17,500         **         739,900   
  

FERRARI NV

     10,720         **         514,560   
  

ALLERGAN PLC

     20,135         **         6,292,188   
  

VALEANT PHARMACEUTICALS

     23,700         **         2,409,105   
  

NXP SEMICONDUCTORS NV

     16,100         **         1,356,425   
  

ASML HLDG NV (NY REG SHS)

     12,300         **         1,091,871   
  

AKAMAI TECHNOLOGIES INC

     13,100         **         689,453   
  

ALASKA AIR GROUP INC

     16,700         **         1,344,517   
  

ALEXION PHARMACEUTICALS

     36,200         **         6,905,150   
  

ALPHABET INC CL C

     6,122         **         4,645,863   
  

ALPHABET INC CL A

     10,500         **         8,169,105   
  

AMAZON.COM INC

     22,300         **         15,072,346   
  

AMERICAN AIRLINES GROUP

     96,400         **         4,082,540   
  

ANTHEM INC

     22,800         **         3,179,232   
  

APPLE INC

     25,100         **         2,642,026   
  

BECTON DICKINSON & CO

     8,500         **         1,309,765   
  

BIOMARIN PHARMACEUTICAL

     11,100         **         1,162,836   
  

BIOGEN INC

     3,800         **         1,164,130   
  

BOEING CO

     54,500         **         7,880,155   
  

BRISTOL-MYERS SQUIBB CO

     41,100         **         2,827,269   
  

CIGNA CORP

     12,300         **         1,799,859   
  

CANADIAN PAC RAILWAY

     14,500         **         1,850,200   
  

CARMAX INC

     18,700         **         1,009,239   
  

CELGENE CORP

     24,600         **         2,946,096   
  

CHIPOTLE MEXICAN GRILL

     2,350         **         1,127,648   
  

DANAHER CORP

     80,400         **         7,467,551   
  

ROYAL CARIBBEAN CRUISES

     15,200         **         1,538,392   
  

FACEBOOK INC A

     57,799         **         6,049,243   
  

FEDEX CORP

     12,900         **         1,921,971   
  

FLOWSERVE CORP

     33,800         **         1,422,304   
  

GILEAD SCIENCES INC

     21,100         **         2,135,109   
  

HANESBRANDS INC

     61,100         **         1,798,173   
  

HILTON WORLDWIDE HLDGS

     142,613         **         3,051,918   
  

HUMANA INC

     10,200         **         1,820,802   
  

DROPBOX INC

     15,913         **         213,712   
  

ILLUMINA INC

     2,300         **         441,474   
  

INCYTE CORP

     11,300         **         1,225,485   
  

INTERCONTINENTAL EXCHANGE

     11,820         **         3,028,993   
  

INTUITIVE SURGICAL INC

     7,942         **         4,337,603   
  

JUNIPER NETWORKS INC

     35,500         **         979,800   
  

LILLY (ELI) & CO

     26,700         **         2,249,742   
  

LINKEDIN CORP CL A

     9,800         **         2,205,784   
  

LOWES COS INC

     42,900         **         3,262,116   
  

MGM RESORTS INTERNATIONAL

     134,805         **         3,062,770   
  

MCKESSON CORP

     6,200         **         1,222,826   
  

MICROSOFT CORP

     87,700         **         4,865,596   
  

MORGAN STANLEY

     160,642         **         5,110,015   

 

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, 2015

 

(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
 
 

NETFLIX INC

     3,500         **         400,330   
 

NETSUITE INC

     17,600         **         1,489,312   
 

NIKE INC CL B

     21,400         **         1,337,500   
 

AIRBNB INC

     6,435         **         599,062   
 

AIRBNB INC SER E PC PP

     2,935         **         273,232   
 

UBER TECHNOLOGIES INC

     10,648         **         519,327   
 

UBER TECH SER G PP

     6,243         **         304,485   
 

PALO ALTO NETWORKS INC

     6,800         **         1,197,752   
 

PAYPAL HLDGS INC

     36,200         **         1,310,440   
 

FLIPKART LTD SER G PC PP

     2,913         **         302,865   
 

PRICELINE GROUP INC

     6,380         **         8,134,181   
 

RED HAT INC

     17,100         **         1,416,051   
 

REGENERON PHARMACEUTICALS

     3,200         **         1,737,184   
 

SALESFORCE.COM INC

     34,000         **         2,665,600   
 

SERVICENOW INC

     22,300         **         1,930,288   
 

STARBUCKS CORP

     26,000         **         1,560,780   
     

STATE STREET CORP

     33,300         **         2,209,788   
 

TD AMERITRADE HLDGS CORP

     43,200         **         1,499,472   
 

T-MOBILE US INC

     39,600         **         1,549,152   
 

TENCENT HLDGS LTD UNS ADR

     87,600         **         1,718,712   
 

TESLA MOTORS INC

     8,720         **         2,092,887   
 

TEXTRON INC

     55,500         **         2,331,555   
 

TRACTOR SUPPLY CO.

     25,300         **         2,163,150   
 

UNITEDHEALTH GROUP INC

     33,300         **         3,917,412   
 

VERTEX PHARMACEUTICALS

     16,800         **         2,113,944   
 

VISA INC CL A

     108,000         **         8,375,400   
 

VULCAN MATERIALS CO

     33,500         **         3,181,495   
 

WESTINGHOUSE AIR BRAKE TECHNOLOGY CORP

     21,300         **         1,514,856   
 

WORKDAY INC CL A

     10,500         **         836,640   
 

VODAFONE GROUP PLC

     59,823         **         194,902   
 

PENTAIR PLC

     11,900         **         589,407   
 

TYCO INTERNATIONAL PLC

     15,600         **         497,484   
 

TOTAL SA (FRAN)

     6,113         **         274,136   
 

WILLIS GROUP HOLDINGS PLC

     3,600         **         174,852   
 

XL GROUP PLC

     5,700         **         223,326   
 

TE CONNECTIVITY LTD

     2,500         **         161,525   
 

ROYAL BANK OF SCOTLAND GR

     112,278         **         499,871   
 

EATON CORP PLC

     420         **         21,857   
 

AES CORP

     63,800         **         610,566   
 

AT&T INC

     6,300         **         216,783   
 

AMERICAN EXPRESS CO

     13,300         **         925,015   
 

AMERIPRISE FINANCIAL INC

     5,800         **         617,236   
 

ANADARKO PETROLEUM CORP

     6,900         **         335,202   
 

ANALOG DEVICES INC

     10,100         **         558,732   
 

ANTHEM INC

     5,638         **         786,163   
 

APACHE CORP

     24,700         **         1,098,409   
 

APPLIED MATERIALS INC

     50,500         **         942,835   
 

ARCHER DANIELS MIDLAND CO

     21,100         **         773,948   

 

16


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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, 2015

 

(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
 
 

AVON PRODUCTS INC

     35,400         **         143,370   
 

BANK OF AMERICA CORPORATION

     77,400         **         1,302,642   
 

BANK OF NEW YORK MELLON

     15,900         **         655,398   
 

BECTON DICKINSON & CO

     1,200         **         184,908   
 

GLAXOSMITHKLINE PLC

     25,853         **         523,285   
 

BOEING CO

     10,400         **         1,503,736   
 

BRISTOL-MYERS SQUIBB CO

     14,900         **         1,024,971   
 

CA INC

     11,700         **         334,152   
 

CANADIAN NAT’L RES (USD)

     25,500         **         556,665   
 

CANADIAN PAC RAILWAY

     1,500         **         191,400   
 

CARNIVAL CORP

     12,700         **         691,896   
 

CENTURYLINK INC

     13,682         **         344,239   
 

CHEVRON CORP

     11,500         **         1,034,540   
 

CHUBB CORP

     4,000         **         530,560   
 

CISCO SYSTEMS INC

     32,000         **         868,960   
 

CITIGROUP INC

     16,700         **         864,225   
 

COMCAST CORP CL A

     10,500         **         592,515   
 

CUMMINS INC

     2,500         **         220,025   
 

DEERE & CO

     8,600         **         655,922   
 

DIGITAL REALTY TRUST INC

     5,400         **         408,348   
 

DISNEY (WALT) CO

     4,500         **         472,860   
 

DUPONT (EI) DE NEMOURS & COMPANY

     15,700         **         1,045,620   
 

DUKE ENERGY CORP

     5,650         **         403,354   
 

EMC CORP

     22,000         **         564,960   
 

EDISON INTL

     8,800         **         521,048   
 

EMERSON ELECTRIC CO

     17,600         **         841,808   
 

ENTERGY CORP

     12,900         **         881,844   
 

EXELON CORP

     6,600         **         183,282   
 

EXXON MOBIL CORP

     22,300         **         1,738,285   
 

FIFTH THIRD BANCORP

     21,000         **         422,100   
 

FIRSTENERGY CORP

     27,500         **         872,575   
 

FORD MOTOR CO

     8,500         **         119,765   
 

GENERAL ELECTRIC CO

     86,612         **         2,697,960   
 

GENERAL MOTORS CO

     15,973         **         543,242   
 

GENUINE PARTS CO

     300         **         25,767   
 

GILEAD SCIENCES INC

     4,100         **         414,879   
 

HARRIS CORP

     10,500         **         912,450   
 

HESS CORP

     16,600         **         804,768   
 

ILLINOIS TOOL WORKS INC

     9,200         **         852,656   
 

INTL BUS MACH CORP

     600         **         82,572   
 

INTERNATIONAL PAPER CO

     21,600         **         814,320   
     

JPMORGAN CHASE & CO

     38,100         **         2,515,743   
 

JOHNSON & JOHNSON

     15,400         **         1,581,888   
 

JOHNSON CONTROLS INC

     14,500         **         572,605   
 

KELLOGG CO

     5,700         **         411,939   
 

KOHLS CORP

     15,200         **         723,976   
 

LAS VEGAS SANDS CORP

     12,600         **         552,384   
 

LOEWS CORP

     24,200         **         929,280   

 

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, 2015

 

(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
 
 

MACERICH COMPANY

     1,100         **         88,759   
 

MACYS INC

     11,500         **         402,270   
 

MARSH & MCLENNAN COS INC

     17,900         **         992,555   
 

TELEFONICA SA

     30,802         **         342,607   
 

MATTEL INC

     37,400         **         1,016,158   
 

MCCORMICK & CO NON-VTG

     1,700         **         145,452   
 

MERCK & CO INC NEW

     18,500         **         977,170   
 

METLIFE INC

     25,000         **         1,205,250   
 

MICROSOFT CORP

     30,700         **         1,703,236   
 

MORGAN STANLEY

     32,300         **         1,027,463   
 

NEWS CORP NEW CL A

     28,000         **         374,080   
 

NISOURCE INC

     36,400         **         710,164   
 

NORTHERN TRUST CORP

     14,200         **         1,023,678   
 

NUCOR CORP

     17,400         **         701,220   
 

OCCIDENTAL PETROLEUM CORP

     8,500         **         574,685   
 

OCH-ZIFF CAPITAL MNGMT GR

     21,100         **         131,453   
 

PG&E CORP

     13,200         **         702,108   
 

PNC FIN SVCS GRP INC

     6,300         **         600,453   
 

PEPSICO INC

     7,500         **         749,400   
 

PFIZER INC

     48,000         **         1,549,439   
 

QUALCOMM INC

     17,200         **         859,742   
 

RAYONIER INC REIT

     16,000         **         355,200   
 

ROYAL DUTCH SHELL SP CL A

     22,100         **         1,011,959   
 

SOUTHWEST AIRLINES CO

     4,200         **         180,852   
 

STAPLES INC

     18,400         **         174,248   
     

STATE STREET CORP

     11,600         **         769,776   
 

SUN LIFE FINL SVCS CDA

     10,700         **         333,840   
 

TEXAS INSTRUMENTS INC

     13,600         **         745,416   
 

TIME WARNER INC

     2,400         **         155,208   
 

TWENTY FIRST CENTURY FOX

     18,800         **         510,608   
 

TWENTY FIRST CENTURY CL B

     13,400         **         364,882   
 

US BANCORP DEL

     9,000         **         384,030   
 

UNION PACIFIC CORP

     4,900         **         383,180   
 

UNITED PARCEL SVCS CL B

     8,100         **         779,463   
 

UNITED TECHNOLOGIES CORP

     1,600         **         153,712   
 

VERIZON COMM INC

     25,319         **         1,170,244   
 

VIACOM INC CL B

     2,900         **         119,364   
 

VULCAN MATERIALS CO

     7,200         **         683,784   
 

WAL MART STORES INC

     9,200         **         563,960   
 

WELLS FARGO & CO

     17,600         **         956,736   
 

WESTERN DIGITAL CORP

     2,800         **         168,140   
 

WESTROCK CO

     2,488         **         113,503   
 

WEYERHAEUSER CO

     21,300         **         638,574   
 

XCEL ENERGY INC

     22,100         **         793,611   
 

COLUMBIA PIPELINE GROUP

     26,400         **         528,000   
 

LOGITECH INTL SA REG

     192,770         **         2,963,916   
 

ABIOMED INC

     40,401         **         3,647,402   
 

AFFILIATED MANAGERS GRP

     14,446         **         2,307,893   

 

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, 2015

 

(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
 
 

ARISTA NETWORKS INC

     21,051         **         1,638,610   
 

ATHENAHEALTH INC

     13,375         **         2,152,974   
 

BIO TECHNE CORP

     44,483         **         4,003,469   
 

BLACKBAUD INC

     72,065         **         4,746,201   
 

CORE LABORATORIES NV

     27,332         **         2,972,082   
 

DINEEQUITY INC

     44,625         **         3,778,399   
 

DUNKIN BRANDS GROUP INC

     76,635         **         3,263,885   
 

ELLIE MAE INC

     18,798         **         1,132,204   
 

EQUITY COMMONWEALTH

     154,399         **         4,281,484   
 

EXPEDITORS INTL OF WASHINGTON INC

     72,691         **         3,278,364   
 

GRACO INC

     60,429         **         4,355,118   
 

HEARTLAND PAYMENT SYS INC

     36,123         **         3,425,183   
 

J2 GLOBAL INC

     56,995         **         4,691,828   
 

LENDINGCLUB CORP

     149,839         **         1,655,721   
 

LIBERTY TRIPADVISOR HOLDG

     45,970         **         1,394,730   
 

MSCI INC

     57,127         **         4,120,571   
 

NIC INC

     114,048         **         2,244,465   
 

OUTFRONT MEDIA INC

     139,550         **         3,046,377   
 

PANDORA MEDIA INC

     121,538         **         1,629,825   
 

QUOTIENT TECHNOLOGY INC

     102,764         **         700,850   
 

SALLY BEAUTY HLDGS INC

     175,450         **         4,893,305   
 

SHUTTERSTOCK INC

     49,301         **         1,594,394   
 

VERIFONE SYSTEMS INC

     127,216         **         3,564,592   
 

WISDOMTREE INVESTMENTS

     47,553         **         745,631   
 

YELP INC

     25,030         **         720,864   
 

ZEBRA TECH CORP CL A

     62,789         **         4,373,254   
     

NextEra Energy (NextEra Energy, Inc. Stock Fund)

     3,837,635         144,703,100         398,691,869   
     

NextEra Energy (NextEra Energy, Inc. Stock Leveraged ESOP Fund)

     8,321,729         125,864,508         864,544,426   
     

NextEra Energy (NextEra Energy, Inc. Stock Leveraged ESOP Fund - Unallocated)

     101,412         1,470,474         10,535,693   
       

 

 

    

 

 

 
 

Total Common Stock

      $ 272,038,082       $ 1,629,954,856   
       

 

 

    

 

 

 
 

Collective Trust Funds:

        
     

PIMCO Diversified Real Asset Trust

     847,972         **         10,548,775   
     

BTC Russell 3000 M

     5,520,486         **         58,639,702   
     

BTC US Debt Index W

     2,192,133         **         44,591,611   
     

BTC MSCI ACWI EX US IMI M

     2,669,771         **         28,100,939   
     

BTC Equity Index T

     1,932,520         **         149,896,529   
     

Cohen & Steers US Realty Shares

     6,526,677         **         75,187,323   
     

Fidelity Low-priced Stock Pool

     7,895,711         **         85,273,677   
     

Loomis Sayles Core Plus Fixed Income Trust Class D

     5,297,716         **         68,446,496   
     

Fisher Investments Emerging Markets Equity Collective Trust

     421,793         **         3,947,982   
     

Clearbridge Value Equity CIF R1

     4,601,861         **         74,089,956   
     

Royce PC Trust R IS

     9,488,484         **         81,316,308   
     

Vanguard Target Retirement

     790,020         **         35,432,378   
     

Vanguard Target 2015

     2,530,235         **         109,559,184   
     

Vanguard Target 2025

     4,163,646         **         178,079,151   
     

Vanguard Target 2035

     4,036,798         **         171,563,933   
     

Vanguard Target 2045

     1,601,115         **         68,767,885   

 

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, 2015

 

(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
 
     

Vanguard Target 2055

     187,598         **         9,878,895   
     

SSBK Government STIF Fund (US Large Cap Growth Fund)

     3,247,094         **         3,247,094   
     

SSBK Government STIF Fund (Equity Income TRP Fund)

     1,093,905         **         1,093,905   
     

SSBK STIF Fund (Small Mid Cap Growth Fund)

     4,136,414         **         4,136,414   
     

SSBK Government STIF Fund (Managed Income Fund)

     3,041,804         **         3,041,804   
       

 

 

    

 

 

 
 

Total Collective Trust Funds

        –         $ 1,264,839,941   
       

 

 

    

 

 

 
 

Registered Investment Companies - Mutual Funds:

        
     

JPMorgan US Government Money Market Fund

     79,886,128         **         79,886,128   
     

Eaton Vance Floating-Rate & High Income Fund Class I

     1,310,841         **         10,840,656   
     

Vanguard Prime Cap Core Fund

     3,815,031         **         79,428,954   
     

American Funds EuroPacific Growth Fund Class R6

     1,847,866         **         83,745,280   
     

Fidelity Institutional Cash Portfolio (NextEra Energy, Inc. Stock Fund)

     2,158,722         **         2,158,722   
     

Fidelity Institutional Cash Portfolio (NextEra Energy, Inc. Stock Leveraged ESOP Fund)

     7,388,939         **         7,388,939   
     

Fidelity Institutional Cash Portfolio (Managed Income Fund)

     3,101,673         **         3,101,673   
       

 

 

    

 

 

 
 

Total Registered Investment Companies

        –         $ 266,550,352   
       

 

 

    

 

 

 
 

U.S. Treasury Notes:

        
 

USTN 1.5% 01/31/19

     5,355,000         **         5,408,299   
 

USTN 1.625% 04/30/19

     4,861,000         **         4,903,640   
 

USTN 0.875% 10/15/17

     12,714,000         **         12,700,418   
 

USTN 1.375% 03/31/20

     41,217,000         **         40,862,784   
 

USTN 0.875% 11/30/17

     4,154,000         **         4,145,555   
 

USTN 1.25% 12/15/18

     15,924,000         **         15,901,812   
 

USTN 1.375% 2/28/19

     8,070,000         **         8,103,356   
 

USTN .875% 4/30/17

     16,699,000         **         16,717,442   
 

USTN .750% 6/30/17

     11,264,000         **         11,229,471   
 

UST NOTE .875% 1/31/18

     11,434,000         **         11,419,795   
 

UST NOTES 1.625% 06/30/2019

     14,849,000         **         14,919,201   
 

USTN 1% 05/15/18

     4,946,000         **         4,928,388   
 

UST NOTES 1.625% 07/31/20

     6,684,000         **         6,699,228   
       

 

 

    

 

 

 
 

Total U.S. Treasury Notes

        –         $ 157,939,389   
       

 

 

    

 

 

 
 

Government Agency Notes:

        
 

FHLB 0.875% 05/24/17

     1,140,000         **         1,139,477   
 

FNMA 1.5% 06/22/20

     1,556,000         **         1,537,827   
 

FNMA 1.125% 07/20/18

     601,000         **         601,642   
 

FNMA 1.5% 11/30/20

     3,658,000         **         3,599,321   
 

FNMA 1.125% 12/14/18

     2,808,000         **         2,788,246   
 

FNMA 1.875% 12/28/20

     4,403,000         **         4,403,425   
 

FNMA 1.875% 09/18/18

     3,699,000         **         3,771,373   
       

 

 

    

 

 

 
 

Total Government Agency Notes

        –         $ 17,841,311   
       

 

 

    

 

 

 
  Mortgage Backed Securities:         
  BACM 2006-2 A4 CSTR 5/45      59,656         **         60,033   
  BACM 2006-4 A4 5.634% 07/46      315,940         **         319,989   
  BACM 2006-4 A1A CSTR 7/46      588,063         **         595,956   

 

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, 2015

 

(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
 
  BSCMS 2006-T22 A1A CSTR 4/38      332,608         **         335,115   
  BSCMS 2006-PW12 A1A CSTR 9/38      365,451         **         368,632   
  BSCMS 2006-PW13 A1A 5.533 9/41      523,878         **         533,617   
  BSCMS 2006-PW14 A1A 5.189      214,067         **         219,597   
  CD 2007-CD5 A1A 5.8% 11/44      543,635         **         574,469   
  COMM 2015-CR22 A2 2.856% 03/48      214,000         **         217,216   
  COMM 2012-CR5 A1 0.673% 12/45      83,639         **         83,209   
  COMM 2012-CR1 A2 2.35% 5/45      253,009         **         255,099   
  COMM 2012-CR2 A1 .824% 08/45      19,079         **         19,065   
  COMM 2012-CR3 ASB 2.372% 11/45      291,000         **         289,140   
  COMM 2013-CR9 A1 1.3440% 7/45      75,141         **         74,970   
  COMM 2014-CR17 A2 3.012% 05/47      490,000         **         501,018   
  COMM 2014-CR18 A2 2.924% 07/47      380,000         **         387,132   
  CD 2006-CD3 A5 5.617% 10/48      55,788         **         56,597   
  CGCMT 2006-C4 A1A CSTR 03/49      176,474         **         178,086   
  CGCMT 2006-C5 A4 5.431 10/49      399,991         **         407,157   
  CGCMT 2006-C5 A1A 5.425 10/49      781,965         **         801,305   
  CGCMT 13-GC11 A1 0.672% 12/17      141,147         **         140,027   
  CWCI 2007-C2 A3 5.484% 04/47      332,697         **         343,457   
  COMM 06-C8 A4 5.306% 12/46      717,315         **         733,266   
  COMM 2006-C8 A1A 5.292 12/46      555,306         **         570,434   
  COMM 2006-C7 A4 CSTR 6/46      420,324         **         425,875   
  COMM 2006-C7 A1A CSTR 6/46      480,540         **         486,514   
  COMM 2013-LC6 A1 .7240% 1/46      110,907         **         110,061   
  FHR 2382 MB 6% 11/16      5,156         **         5,275   
  FNR 2013-16 GP 3% 03/33      587,171         **         606,043   
  FNR 2014-83 P 3% 06/43      718,838         **         742,983   
  FNR 2015-32 PA 3% 4/44      570,482         **         587,396   
  FNR 2015-28 P 2.5% 5/45      1,687,702         **         1,700,463   
  FNR 2015-28 JE 3% 05/45      1,538,846         **         1,578,954   
  FNR 2015-42 LE 3% 06/45      1,067,157         **         1,087,842   
  FNR 2015-49 LE 3% 07/45      771,725         **         790,554   
  FNR 2015-54 LE 2.5% 07/45      928,570         **         938,117   
  FHR 4046 LA 3% 11/2026      491,546         **         506,193   
  FHR 3820 DA 4% 11/35      189,381         **         198,197   
  FHR 2015-4472 WL 3% 05/45      739,552         **         758,028   
  FHR SER 4221 CLS GA 1.4% 7/23      607,069         **         600,117   
  FHR 3741 HD 3% 11/15/39      177,915         **         182,008   
  FHR 2010-3645 KP 5% 02/40      378,595         **         418,212   
  GSMS 2013-GC10 A1 .696% 2/46      1,818         **         1,819   
  GSMS 2013-GC10 A2 1.84% 2/46      160,000         **         160,265   
  GSMS 2013-GC12 A1 VAR 06/46      147,265         **         145,830   
  GSMS 2006-GG8 A4 5.56% 11/39      671,113         **         673,069   
  GSMS 2006-GG8 A1A 5.547 11/39      321,597         **         327,866   
  GECMC 2006-C1 A1A CSTR 3/44      118,951         **         119,449   
  GNR 13-41 PA 2.5% 04/40      357,906         **         365,119   
      JPMCC 2015-JP1 A2 3.1438% 1/49      351,000         **         360,931   
      JPMCC 2006-LDP7 A4 CSTR 04/45      369,755         **         372,760   

 

21


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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, 2015

 

(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
 
      JPMCC 2006-LDP7 A1A CSTR 4/45      653,618         **         663,213   
      JPMCC 2006-CB16 A4 5.552% 5/45      81,572         **         82,907   
      JPMCC 2006-CB16 A1A 5.546 5/45      880,282         **         894,899   
      JPMCC 2013-C10 .7302% 12/15/47      90,199         **         89,560   
      JPMBB 15-C29 A2 2.8596% 05/48      310,000         **         315,358   
  LBUBS 2006-C6 A4 5.372% 9/39      376,795         **         383,377   
  LBUBS 2006-C6 A1A CSTR 9/39      577,510         **         588,730   
  LBUBS 2007-C7 A3 5.886% 9/45      273,247         **         287,652   
  MLMT 2006-C2 A1A CSTR 8/43      511,009         **         519,047   
  MLCFC 2006-3 A4 CSTR 7/46      1,209,983         **         1,231,793   
  MSBAM 2014-C14 A2 2.916% 1/47      566,000         **         577,945   
  MSC 2006-IQ11 A1A CSTR 10/42      407,475         **         410,597   
  MSC 2006-HQ9 A4 CSTR 7/44      319,346         **         322,823   
  MSC 2007-IQ13 A1A 5.312% 3/44      191,847         **         198,389   
  MSC 2007-T27 A1A CSTR 6/42      664,315         **         696,876   
  UBSBB 2012-C2 A1 1.006% 5/63      125,727         **         125,447   
  UBSCM 2012-C1 A2 2.180% 5/45      233,851         **         235,275   
  UBSBB 2012-C4 A1 .6728 12/45      106,748         **         106,114   
  UBSBB 2013-C6 A1 0.8022% 4/46      125,507         **         124,448   
  WFRBS 13-C14 A1 .836% 6/15/46      97,483         **         96,673   
  WFRBS 2013-C14 A2 2.133% 6/46      150,000         **         150,264   
  WFRBS 2011-C5 A1 1.456 11/44      13,210         **         13,222   
  WFRBS 2012-C8 A1 .864% 8/45      102,874         **         102,538   
  WFRBS 2012-C8 A2 1.881% 8/45      360,000         **         360,464   
  WFRBS 2013-C11 A1 .799% 03/45      68,119         **         67,717   
  WBCMT 2006-C24 A1A CSTR 3/45      153,129         **         153,654   
  WBCMT 2006-C25 A5 CSTR 5/43      180,000         **         181,822   
  WBCMT 2006-C25 A1A CSTR 5/43      417,804         **         423,211   
  WBCMT 2006-C27 A3 CSTR 7/45      177,017         **         177,647   
  WBCMT 2006-C26 A1A CSTR 6/45      529,782         **         536,301   
  WBCMT 2006-C29 A4 5.308% 11/48      147,398         **         150,063   
  WBCMT 2006-C29 A1A 5.297 11/48      807,165         **         828,599   
  WFCM 2012-LC5 ASB 2.528% 10/45      265,000         **         264,533   
  WFCM 2013-LC12 A1 1.676% 7/46      487,340         **         486,000   
  FHLG 15YR 4.50% 8/18 #E98688      57,025         **         59,261   
  FHLG 15YR 4.50% 9/18 #E99205      22,238         **         23,131   
  FHLG 15YR 4.50% 10/18 #E99833      30,761         **         31,997   
  FHLM ARM 3.53% 4/40 #1B4657      48,383         **         51,324   
  FHLM ARM 3.58% 4/40 #1B4702      46,048         **         48,904   
  FHLG 7.50% 7/34 #G02115      148,293         **         176,097   
  FHLG 15YR 5.00% 3/19 #G13052      81,750         **         85,268   
  FHLG 15YR 5.00% 4/20 #G13598      116,215         **         121,320   
  FHLG 15YR 3.5% 08/30 #G15273      749,061         **         787,998   
  FHLG 25YR 5.50% 7/35 #G05815      67,338         **         75,739   
  FHLM ARM 4.941% 11/35 #1J1228      56,561         **         59,555   
  FHLG 10YR 3.00% 8/21 #J16393      127,886         **         132,413   
  FHLG 10YR 3.00% 8/21 #J16442      115,494         **         119,643   
  FHLM ARM 3.717% 05/41 #1B8124      37,814         **         40,021   

 

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, 2015

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral,
par, or maturity value
     (d) Cost      (e)
Current value
 
   FHLM ARM 3.224% 4/41 #1B8179      32,502         **         33,974   
   FHLM ARM 3.464% 5/1/41 #1B8304      27,161         **         28,294   
   FHLM ARM 3.627% 6/1/41 #1B8372      45,722         **         48,294   
   FHLM ARM 3.283 6/1/41      38,523         **         40,560   
   FHLM ARM 2.98% 8/41 #1B8533      94,918         **         100,968   
   FHLM ARM 3.07% 9/41 #1B8608      61,756         **         64,530   
   FHLM ARM 3.242% 9/1/41 #1B8659      28,937         **         30,259   
   FHLG 5.50% 3/34 #G01665      96,520         **         108,468   
   FHLG 15YR 5.50% 4/18 #G11389      16,810         **         17,414   
   FHLG 15YR 4.00% 9/25 #E02787      191,601         **         205,650   
   FHLG 15YR 4.00% 4/26 #E02867      96,934         **         103,587   
   FHLG 15YR 4.50% 11/18 #B10931      18,752         **         19,524   
   FHLM ARM 4.199% 8/36 #848185      25,957         **         27,518   
   FHLM AR 12M+187.9 10/42 #849255      233,719         **         248,297   
   FHLG 5.50% 5/34 #Z40042      725,420         **         815,370   
   FNMA 15YR 6.00% 12/17 #254547      523         **         545   
   FNMA 5.50% 11/34 #310105      525,376         **         589,711   
   FNMA ARM 3.228% 7/41 #AI3469      44,944         **         47,303   
   FNMA ARM 3.01% 8/41 #AI4358      32,181         **         33,829   
   FNMA ARM 3.545% 07/41 #AI6050      56,903         **         59,993   
   FNMA ARM 3.365% 10/41 #AI6819      21,864         **         22,844   
   FNMA 15YR 3.5% 07/26 #AI7819      57,038         **         60,063   
   FNMA ARM 09/41 #AI9813      27,594         **         28,822   
   FNMA ARM 10/41 #AJ3399      10,011         **         10,440   
   FNMA ARM 2.69% 9/41 #AH5260      181,301         **         192,811   
   FNMA ARM 2.57% 10/41 #AH5261      121,715         **         129,427   
   FNMA 15YR 3.50% 1/26 #AL1168      160,004         **         168,940   
   FNMA 15YR 3.50% 3/27 #AL1746      679,328         **         718,329   
   FNMA 15YR 3.5% 10/29 #AL5851      217,456         **         230,076   
   FNMA 15YR 3.5% 09/29 #AL5878      517,344         **         547,369   
   FNMA ARM 06/42 #AO2244      43,003         **         44,139   
   FNMA 15YR 3.5% 01/27 #AX1909      258,520         **         272,433   
   FNMA 15YR 6.00% 12/16 #545375      698         **         712   
   FNMA 6.50% 7/32 #545759      24,858         **         28,810   
   FNMA 6.50% 7/32 #545762      14,520         **         16,829   
   FNMA 15YR 7.00% 11/18 #555999      207         **         214   
   FNMA ARM 4.68% 11/34 #735011      55,965         **         58,870   
   FNMA 6.50% 12/32 #735415      14,652         **         16,974   
   FNMA 6.50% 7/35 #745092      15,817         **         18,383   
   FNMA ARM 4.53% 12/34 #802852      48,895         **         51,990   
   FNMA 6.50% 8/36 #888034      21,085         **         24,421   
   FNMA 6.50% 8/36 #888544      70,760         **         82,076   
   FNMA ARM 4.21% 5/35 #889946      72,131         **         76,542   
   FNMA ARM 4.30% 2/35 #995017      592,521         **         624,704   
   FNMA ARM 4.53% 10/35 #995414      69,143         **         73,483   
   FNMA ARM 4.55% 10/35 #995415      279,997         **         295,017   
   FNMA ARM 4.512% 12/36 #995606      86,738         **         91,865   
   FNMA ARM 2.61% 4/35 #995609      27,121         **         28,733   

 

23


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, 2015

 

(a)

  

(b)

Identity of issue, borrower, lessor, or similar party

   (c)
Description of
investment including
maturity date, rate of
interest, collateral,
par, or maturity value
     (d) Cost      (e)
Current value
 
   FNMA ARM 4.285% 7/33 #AD0066      26,118         **         27,737   
   FNMA 6.50% 12/35 #AD0723      84,038         **         97,346   
   FNMA ARM 3.47% 3/40 #AD0820      49,153         **         52,211   
   FNMA ARM 3.60% 3/40 #AD1555      62,701         **         66,727   
   FNMA 6.50% 8/36 #AE0746      62,288         **         72,213   
   FNMA ARM 11/40 #AE6806      23,975         **         24,983   
   GNMA 30YR 5.5% 06/35 #783800      99,643         **         112,509   
        

 

 

    

 

 

 
   Total Mortgage Backed Securities         –           $42,967,485   
        

 

 

    

 

 

 
   Asset Backed Securities:         
   AMOT 2012-5 A 1.54% 9/19      260,000         **         258,623   
   AMOT 2015-3 A 1.63% 05/20      620,000         **         614,550   
   ALLYL 2014-SN1 A3 .75% 02/17      345,942         **         345,677   
   ALLYL 2015-SN1 A3 1.21% 03/17      148,000         **         147,416   
   ALLYA 2015-1 A3 1.39% 09/19      437,000         **         435,474   
   AMXCA 2013-3 A .98% 05/19      696,000         **         695,684   
   AMXCA 2014-2 A 1.26% 01/20      681,000         **         680,000   
   AMXCA 2014-3 A 1.49% 04/20      1,674,000         **         1,675,701   
   BACCT 2015-A2 A 1.36% 09/20      786,000         **         781,147   
   BMWLT 2014-1 A3 .73% 02/17      471,180         **         470,818   
   BMWLT 2015-1 A3 1.24% 12/17      625,000         **         624,277   
   COMET 2013-A3 A3 .96% 9/19      894,000         **         893,093   
   COMET 2014-A2 A2 1.26% 01/20      690,000         **         690,186   
   COMET 2014-A5 A 1.48% 07/20      1,640,000         **         1,641,384   
   COMET 2015-A1 A 1.39% 01/21      620,000         **         616,875   
   COMET 2015-A5 A5 1.59% 5/21      780,000         **         777,919   
   CARMX 2013-3 A3 .97% 11/15/16      301,085         **         300,692   
   CARMX 2014-3 A3 1.16% 06/19      411,000         **         409,682   
   CARMX 2014-4 A3 1.25% 11/19      332,000         **         330,698   
   CARMX 2015-3 A3 1.63% 06/20      302,000         **         300,857   
   CARMX 2015-1 A3 1.38% 11/19      316,000         **         314,817   
   CHAIT 2013-A8 A8 1.01% 10/18      762,000         **         761,660   
   CHAIT 2014-A1 A 1.15% 01/19      1,890,000         **         1,889,504   
   CHAIT 2014-A7 A 1.38% 11/19      829,000         **         827,139   
   CHAIT 2015-A2 A 1.59% 02/20      950,000         **         950,539   
   CHAIT 2015-A5 A 1.35% 04/20      620,000         **         616,826   
   CHAIT 15-A7 A7 1.62% 7/20      835,000         **         832,762   
   CCCIT 13-A3 A3 1.11% 7/23/18      610,000         **         613,355   
   CCCIT 2013-A6 A6 1.32% 09/18      756,000         **         760,635   
   CCCIT 2014-A2 A2 1.02% 02/19      1,032,000         **         1,033,300   
   CCCIT 2014-A4 A4 1.23% 04/19      685,000         **         686,314   
   CCCIT 2014-A6 A6 2.15% 07/21      662,000         **         671,730   
   CCCIT 2014-A8 A8 1.73% 04/20      650,000         **         654,082   
   DCENT 2013-A5 A5 1.04% 04/19      758,000         **         757,969   
   DCENT 2014-A3 A3 1.22% 10/19      685,000         **         684,614   
   DCENT 2014-A4 A4 2.12% 12/21      639,000         **         641,787   
   DCENT 2014-A5 A 1.39% 04/20      1,305,000         **         1,302,445   
   FORDF 2015-4 A1 1.77% 8/20      620,000         **         620,125   

 

24


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, 2015

 

(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
 
   FORDL 15-A A3 1.13% 6/18      777,000         **         773,806   
   FORDO 2015-C A3 1.41% 02/20      461,000         **         459,203   
   GMALT 2015-2 A3 1.68% 12/18      460,000         **         457,585   
   GMALT 2015-1 A3 1.53% 09/18      538,000         **         536,196   
   HAROT 2015-4 A3 1.23% 09/23/19      425,000         **         421,658   
   HART 2015-B A3 1.12% 11/19      596,000         **         591,711   
   HART 2015-C A3 1.46% 02/20      452,000         **         450,490   
   MBALT 2015-A A3 1.10% 08/17      645,000         **         644,632   
   NALT 2014-A A3 .80% 02/17      373,000         **         372,796   
   NAROT 2015-C A3 1.37% 5/20      460,000         **         457,099   
   NEF 2005-1 A5 4.74% 10/45      133,337         **         126,321   
   SYNCT 2015-2 A 1.60% 4/21      620,000         **         616,018   
   TAOT 2015-C A3 1.34% 6/19      780,000         **         778,575   
   TAOT 2015-B A3 1.27% 05/19      1,000,000         **         996,253   
   USAOT 2015-1 A3 1.2% 06/19      312,000         **         310,720   
   VALET 2013-2 A3 0.7% 04/18      510,236         **         507,909   
   VWALT 2014-A A3 .80% 4/20/17      442,093         **         440,980   
   VALET 2014-1 A3 .91% 10/22/18      454,000         **         450,871   
   VWALT 2015-A A3 1.25% 12/17      391,000         **         387,264   
   WOLS 2013-A A3 1.10% 12/16      260,015         **         260,128   
   WOART 2014-B A3 1.14% 1/20      602,000         **         599,879   
   WOLS 2015-A A3 1.54% 10/18      557,000         **         553,404   
   WOLS 2014-A A3 1.16% 09/17      463,000         **         461,809   
        

 

 

    

 

 

 
   Total Asset Backed Securities         –           $38,965,663   
        

 

 

    

 

 

 
   Corporate Bonds:         
   APPLE INC 1% 5/3/18      1,388,000         **         1,379,338   
   APPLE INC 2.85% 5/6/21      510,000         **         524,747   
   AUSTRALIA & NZ 1.875% 10/06/17      393,000         **         395,685   
   AUSTRALIA & NZ 1.45% 5/15/18      370,000         **         367,219   
   AUST & NZ BKG NY 2.25% 6/13/19      710,000         **         709,565   
   AUSTRALIA & NZ BKG 2% 11/16/18      320,000         **         320,198   
   BANK OF MONTREAL 1.8% 7/15/18      620,000         **         623,383   
   BANK OF MONTREL 2.375% 1/25/19      400,000         **         407,473   
   BANK OF NY MTN 2.4% 1/17/17      930,000         **         948,975   
   BK OF NOVA SCOTIA 2.05% 6/5/19      1,000,000         **         994,020   
   BANK NOVA SCOTIA 2.8% 07/21/21      500,000         **         509,205   
   BERKSHIRE HTHWY INC 2.1% 08/19      1,000,000         **         1,014,303   
   CHEVRON CORP NE 1.104% 12/5/17      740,000         **         735,542   
   CHEVRON CORP NEW 1.961% 03/20      1,555,000         **         1,542,958   
   CISCO SYSTEMS INC 2.125% 3/19      690,000         **         700,823   
   CISCO SYSTEMS 2.45% 6/15/20      1,000,000         **         1,010,792   
   COCA-COLA CO 1.15% 04/01/18      760,000         **         760,099   
   COLGATE-PALMOLIVE 0.9% 5/1/18      483,000         **         478,984   
   COMMONWEALTH NY 2.25% 03/13/19      681,000         **         687,062   
   COMMONWEALTH BK NY 1.4% 09/17      320,000         **         320,724   
   COMMONWEALTH BK NY 2.3% 9/6/19      650,000         **         653,444   
   COMMWLTH BK ASTL NYB 2.3% 3/20      310,000         **         309,143   

 

25


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, 2015

 

(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
 
   GENERAL ELEC CO 3.375% 3/11/24      602,000         **         629,297   
   HSBC USA INC 2.625% 09/24/18      198,000         **         202,281   
   IBRD 1% 06/15/18      200,000         **         198,345   
   MERCK & CO INC NEW 1.85% 02/20      1,000,000         **         1,002,836   
   MICROSOFT CORP 1.625% 12/06/18      1,000,000         **         1,006,624   
   MIDAMERICAN ENE 2.4% 03/15/19      750,000         **         761,169   
   ONTARIO PROV 2% 09/27/18      2,340,000         **         2,371,475   
   ORACLE CORP 2.25% 10/8/19      650,000         **         660,391   
   PEPSICO INC 7.9% 11/01/18      335,000         **         396,997   
   PROCTER GAMBLE MTN 4.7 2/15/19      151,000         **         167,259   
   PROCTER & GAMBLE 1.6% 11/15/18      689,000         **         695,292   
   PUBLIC SVC ELEC 2.3% 09/15/18      1,000,000         **         1,017,925   
   PUBLIC SVC ELEC 1.8% 06/01/19      700,000         **         693,857   
   ROYAL BK CAN GL 1.5% 01/14/18      603,000         **         604,251   
   ROYAL BK CDA 2.2% 7/27/18      769,000         **         782,590   
   ROYAL BK OF CDA 2.15% 03/15/19      340,000         **         343,131   
   ROYAL BK CAN GL 1.8% 07/30/18      300,000         **         301,370   
   ROYAL BK CAN GL 2.35% 10/30/20      1,000,000         **         995,422   
   SAN DIEGO G&E 3% 8/15/21      550,000         **         567,974   
   SHELL INTL FIN 1.125% 8/21/17      590,000         **         588,311   
   SHELL INTL FIN BV 2.125% 05/20      468,000         **         461,830   
   SHELL INTL 2.25% 11/10/20      806,000         **         796,479   
   SOUTHERN CA GAS 1.55% 6/15/18      1,000,000         **         997,163   
   SUMITOMO MITSUI BKG 1.8% 7/17      944,000         **         951,299   
   SUMITOMO BKG 2.45% 1/10/19      430,000         **         436,580   
   SUMITOMO BKG 2.25% 07/11/19      500,000         **         502,076   
   TORONTO DOMINI 2.375% 10/19/16      767,000         **         778,666   
   TORONTO DOM 1.4% 4/30/18      760,000         **         755,582   
   TORONTO DOMINI 2.625% 09/10/18      754,000         **         774,711   
   TORONTO DOM BK 2.125% 7/02/19      340,000         **         343,262   
   TORONTO DOMINION 2.25% 11/5/19      490,000         **         491,600   
   TOTAL CAP CDA L 1.45% 01/15/18      416,000         **         416,282   
   TOTAL CAPITAL SA 1.5% 2/17/17      390,000         **         392,867   
   TOTAL CAP INTL 1.55% 6/28/17      390,000         **         391,064   
   TOTAL CAP INTL 2.125% 01/10/19      700,000         **         708,540   
   TOTAL CAP INTL 2.75% 06/19/21      340,000         **         339,042   
   TOYOTA MOTOR CR 2% 10/24/18      700,000         **         706,706   
   TOYOTA MOTOR CRDIT 2.125% 7/19      500,000         **         505,905   
   US BANK NA 1.1% 01/30/17      700,000         **         702,240   
   US BANK NA CIN 2.125% 10/19      1,451,000         **         1,455,824   
   USBKNA 1.35% 01/26/18      480,000         **         481,177   
   WAL-MART STORES 1.125% 4/18      762,000         **         760,781   
   WAL MART STORES 3.3% 04/22/24      342,000         **         355,344   
   WELLS FARGO 1.5% 01/18      1,500,000         **         1,504,184   
   WELLS FARGO & CO 2.15% 1/15/19      1,392,000         **         1,413,935   
   WELLS FARGO 3% 01/22/21      635,000         **         650,446   
   WELLS FARGO & CO MTN 2.6% 7/20      460,000         **         464,299   
   WESTPAC BANKING CRP 2% 8/14/17      703,000         **         712,774   

 

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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, 2015

 

(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
 
  WPACBKG 1.6% 1/12/18      402,000         **         404,265   
  WESTPAC BANK CORP 1.2% 5/19/17      680,000         **         679,343   
  WESTPAC BANKING 1.5% 12/01/17      330,000         **         329,353   
  VRX ESCROW 5.875 5/2 144A      32,000         **         28,560   
       

 

 

    

 

 

 
  Total Corporate Bonds         –           $50,072,658   
       

 

 

    

 

 

 
 

Synthetic guaranteed investment contract and wrapper contracts:

        
 

Adjustment from fair value to contract value guaranteed investment contract

        **         (3,406,639)   
     

GIC State Street Bank and Trust Company Boston Contract # 107049 - wrapper

        **         35,283   
 

GIC Monumental Life Insurance Company Contract # MDA01058TR-00 - wrapper

        **         22,749   
       

 

 

    

 

 

 
 

Total synthetic guaranteed investment contract and wrapper contracts:

        –           $(3,348,607)   
       

 

 

    

 

 

 
      Participant loans     
 
3.25%
Maturing 2016 - 2021
  
  
     **         71,861,913   
       

 

 

    

 

 

 
  Total investments at year end         $272,038,082         $3,537,644,961   
       

 

 

    

 

 

 

 

*

Party-in-interest

**

Historical cost is disclosed only for non-participant directed investments

 

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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 20, 2016

     

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

 

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EXHIBIT INDEX

 

Exhibit
Number

 

Description

23(a)   Consent of Crowe Horwath LLP

 

29