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, 2013
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)
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
1 | ||||
FINANCIAL STATEMENTS |
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STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 2013 AND 2012 |
2 | |||
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2013 |
3 | |||
4 | ||||
SUPPLEMENTAL SCHEDULE |
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SCHEDULE H Line 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) |
23 | |||
32 | ||||
EXHIBIT 23(a) CONSENT OF CROWE HORWATH LLP |
33 |
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, 2013 and 2012, and the related statement of changes in net assets available for benefits for the year ended December 31, 2013. These financial statements are the responsibility of the Plans 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, 2013 and 2012, and the changes in net assets available for benefits for the year ended December 31, 2013 in conformity with U.S. generally accepted accounting principles.
As further discussed in Notes 1 and 2 to the financial statements, effective December 31, 2013, the NextEra Energy, Inc. Bargaining Unit Employee Retirement Savings Plan was merged into the Plan. The transfer of assets due to the Plan merger was reported as Transfer related to Plan Merger on the Statement of Changes in Net Assets Available for Benefits.
Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental Schedule H, Line 4i - Schedule of Assets (Held at End of Year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labors Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedule is the responsibility of the Plans management. The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic 2013 financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic 2013 financial statements taken as a whole.
/s/ Crowe Horwath LLP |
Columbus, Ohio
June 25, 2014
1
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2013 AND 2012
December 31, 2013 | ||||||||||||||||
Nonparticipant-Directed | ||||||||||||||||
Participant- Directed |
Allocated | Unallocated | Total | |||||||||||||
ASSETS |
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Participant-directed investments (see Note 7) |
$ | 2,485,923,021 | $ | | $ | | $ | 2,485,923,021 | ||||||||
Nonparticipant-directed investments (Leveraged ESOP) |
| 722,893,201 | 155,368,278 | 878,261,479 | ||||||||||||
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Total investments, at fair value |
2,485,923,021 | 722,893,201 | 155,368,278 | 3,364,184,500 | ||||||||||||
Notes receivable from participants |
70,604,491 | | | 70,604,491 | ||||||||||||
Employer contribution receivable |
| | 702,141 | 702,141 | ||||||||||||
Accrued interest receivable and other receivables |
9,433,651 | 736 | 27 | 9,434,414 | ||||||||||||
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Total receivables |
80,038,142 | 736 | 702,168 | 80,741,046 | ||||||||||||
Non-interest bearing cash |
918,311 | | | 918,311 | ||||||||||||
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Total assets |
2,566,879,474 | 722,893,937 | 156,070,446 | 3,445,843,857 | ||||||||||||
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LIABILITIES |
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Leveraged ESOP Note: |
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Current |
| | 24,835,245 | 24,835,245 | ||||||||||||
Non-current |
| | 30,606,382 | 30,606,382 | ||||||||||||
Interest payable (Leveraged ESOP) |
| | 179,076 | 179,076 | ||||||||||||
Other Payables |
7,011,246 | 165,232 | | 7,176,478 | ||||||||||||
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Total liabilities |
7,011,246 | 165,232 | 55,620,703 | 62,797,181 | ||||||||||||
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Net assets, reflecting all investments at fair value |
2,559,868,228 | 722,728,705 | 100,449,743 | 3,383,046,676 | ||||||||||||
Adjustments from fair value to contract value for fully benefit-responsive investment contracts |
(7,154,023 | ) | | | (7,154,023 | ) | ||||||||||
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NET ASSETS AVAILABLE FOR BENEFITS |
$ | 2,552,714,205 | $ | 722,728,705 | $ | 100,449,743 | $ | 3,375,892,653 | ||||||||
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December 31, 2012 | ||||||||||||||||
Nonparticipant-Directed | ||||||||||||||||
Participant- Directed |
Allocated | Unallocated | Total | |||||||||||||
ASSETS |
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Participant-directed investments (see Note 7) |
$ | 1,620,331,811 | $ | | $ | | $ | 1,620,331,811 | ||||||||
Nonparticipant-directed investments (Leveraged ESOP) |
| 456,335,086 | 136,003,612 | 592,338,698 | ||||||||||||
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Total investments, at fair value |
1,620,331,811 | 456,335,086 | 136,003,612 | 2,212,670,509 | ||||||||||||
Notes receivable from participants |
42,665,318 | | | 42,665,318 | ||||||||||||
Employer contribution receivable |
| | 3,903,749 | 3,903,749 | ||||||||||||
Accrued interest receivable |
| | 62 | 62 | ||||||||||||
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Total receivables |
42,665,318 | | 3,903,811 | 46,569,129 | ||||||||||||
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Total assets, reflecting interest in assets of Master Trust |
1,662,997,129 | 456,335,086 | 139,907,423 | 2,259,239,638 | ||||||||||||
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LIABILITIES |
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Leveraged ESOP Note: |
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Current |
| | 19,689,544 | 19,689,544 | ||||||||||||
Non-current |
| | 40,925,130 | 40,925,130 | ||||||||||||
Interest payable (Leveraged ESOP) |
| | 195,785 | 195,785 | ||||||||||||
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Total liabilities, reflecting interest in liabilities of Master Trust |
| | 60,810,459 | 60,810,459 | ||||||||||||
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Interest in net assets of Master Trust, reflecting all investments at fair value |
1,662,997,129 | 456,335,086 | 79,096,964 | 2,198,429,179 | ||||||||||||
Adjustments from fair value to contract value for fully benefit-responsive investment contracts |
(9,814,492 | ) | | | (9,814,492 | ) | ||||||||||
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NET ASSETS AVAILABLE FOR BENEFITS |
$ | 1,653,182,637 | $ | 456,335,086 | $ | 79,096,964 | $ | 2,188,614,687 | ||||||||
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The accompanying Notes to Financial Statements are an integral part of these statements.
2
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2013
Nonparticipant-Directed | ||||||||||||||||
Participant- Directed |
Allocated | Unallocated | Total | |||||||||||||
ADDITIONS |
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Participant contributions |
$ | 87,014,628 | $ | | $ | | $ | 87,014,628 | ||||||||
Allocation of Leveraged ESOP shares (see Note 5) |
| 33,381,735 | | 33,381,735 | ||||||||||||
Transfer from/to nonparticipant-directed investments |
32,235,054 | 1,048,167 | | 33,283,221 | ||||||||||||
Increase in Leveraged ESOP unallocated account (see Note 5) |
| | 33,461,313 | 33,461,313 | ||||||||||||
Net investment income: |
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Net investment income in participation in Master Trust, at fair value |
297,602,337 | 123,776,479 | | 421,378,816 | ||||||||||||
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Total additions |
416,852,019 | 158,206,381 | 33,461,313 | 608,519,713 | ||||||||||||
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DEDUCTIONS |
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Benefit payments to participants and beneficiaries |
194,361,426 | 37,493,371 | | 231,854,797 | ||||||||||||
Transfer from/to participant-directed investments |
1,048,167 | 32,235,054 | | 33,283,221 | ||||||||||||
Decrease in Leveraged ESOP unallocated account (see Note 5) |
| | 38,328,628 | 38,328,628 | ||||||||||||
Administrative expenses |
700,366 | 47,509 | | 747,875 | ||||||||||||
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Total deductions |
196,109,959 | 69,775,934 | 38,328,628 | 304,214,521 | ||||||||||||
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Transfers to/(from) the Plan, net |
2,300,492 | (525,584 | ) | | 1,774,908 | |||||||||||
NET INCREASE/(DECREASE) |
223,042,552 | 87,904,863 | (4,867,315 | ) | 306,080,100 | |||||||||||
Transfer related to Plan Merger (a) |
676,489,016 | 178,488,756 | 26,220,094 | 881,197,866 | ||||||||||||
NET ASSETS AVAILABLE FOR BENEFITS AT DECEMBER 31, 2012 |
1,653,182,637 | 456,335,086 | 79,096,964 | 2,188,614,687 | ||||||||||||
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NET ASSETS AVAILABLE FOR BENEFITS AT DECEMBER 31, 2013 |
$ | 2,552,714,205 | $ | 722,728,705 | $ | 100,449,743 | $ | 3,375,892,653 | ||||||||
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(a) | On December 31, 2013, the Net Assets Available for Benefits of the NextEra Energy, Inc. Bargaining Unit Employee Retirement Savings Plan were merged into the Plan as discussed in Notes 1 and 2. |
The accompanying Notes to Financial Statements are an integral part of these statements.
3
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
DECEMBER 31, 2013 AND 2012
1. | Description of the Plan |
The following description of the NextEra Energy, Inc. Employee Retirement Savings Plan (the Plan) provides only general information. Participating employees (Participants) should refer to the Summary Plan Description available in their employee handbook (as updated periodically through Summaries of Material Modifications) or the Plan Prospectus for a more complete description of the Plan.
Effective December 31, 2013 (Plan Merger Date), the NextEra Energy, Inc. Bargaining Unit Employee Retirement Savings Plan (Bargaining Plan) was merged (Plan Merger) with and into the Plan. All participants under the Bargaining Plan (Bargaining Unit Participant) at the time of the Plan Merger have a benefit immediately after the merger which is the same as the benefit determined under the Bargaining Plan immediately before the merger. In conjunction with the Plan Merger, the Master Trust for Retirement Savings Plans of NextEra Energy, Inc. and Affiliates (Master Trust) was renamed the NextEra Energy, Inc. Employee Retirement Savings Plan Trust (Trust) and amended to be a single trust.
See Note 2 for additional detail about the Plan Merger.
General
The Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). Participation in the Plan is voluntary. The Plan includes a cash or deferred compensation arrangement (Pretax Option) permitted by Section 401(k) of the Internal Revenue Code of 1986, as amended (the Code). The Pretax Option permits Participants to elect to defer federal income taxes on all or a portion of their contributions (Pretax Contributions) until such contributions are distributed from the Plan. Under current tax law, the annual limitation on Pretax Contributions for the 2014 and 2013 Plan years is $17,500. In addition, individuals age 50 or older who contributed the maximum allowable under the Pretax Option in the Plan have the option of contributing up to an additional $5,500 annually in Pretax Contributions in 2014 and 2013.
Non-bargaining employees of NextEra Energy, Inc. (the Company) and its subsidiaries 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. Effective with the Plan Merger, Bargaining unit employees of the Company 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. 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 NextEra Energy, Inc. (Company Stock). Pursuant to the Leveraged ESOP, the Master Trust purchased Company Stock from the Company using the proceeds of a loan (Acquisition Indebtedness) from NextEra Energy Capital Holdings, Inc., a wholly-owned subsidiary of the Company. The Company Stock acquired by the Master Trust (now held in the Trust) is initially held in a separate account (Leveraged ESOP Account). As the Acquisition Indebtedness (including interest) is repaid, Company Stock is released from the Leveraged ESOP Account and allocated to Participants.
The Plan has a Dividend Payout Program which enables Participants to choose how their dividends on certain shares of Company Stock held in the Plan are to be paid. The options available to Participants include reinvestment of dividends in Company Stock, distribution of dividends in cash, or a partial cash distribution of dividends with the balance reinvested in Company Stock. Dividends on unallocated Company Stock held in the Leveraged ESOP do not qualify under this program.
Trustee
Fidelity Management Trust Company (Trustee) administers the Trust established to hold the assets and liabilities of the Plan. The Trustee administered the Master Trust prior to the Plan Merger.
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.
4
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
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.
NextEra Energy Point Beach bargaining unit eligible employees represented by IBEW 2150 (Eligible Employee) hired or rehired after January 1, 2008 shall be 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.
As of December 31, 2013, Participants could elect to invest in any combination of the 26 different investment options offered under the Plan. Participants may change their investment elections daily, subject to Fidelitys excessive trading policy and the Plans 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, 2013 and 2012, for non-bargaining employees and as of December 31, 2013 for Bargaining Plan employees. Refer to Note 2 for additional disclosures about the Plan Merger.
Participant Group | Benefit | |
NextEra Energy, Inc. and subsidiaries Non-Bargaining and Bargaining Unit Employees, not listed below | 100% on the first 3% of employee contribution 50% on the next 3% of employee contribution 25% on the next 1% of employee contribution | |
NextEra Energy Seabrook, LLC (NextEra Energy Seabrook) Non-Bargaining Employees hired prior to November 1, 2002
NextEra Energy Seabrook Bargaining Unit Employees hired prior to January 1, 2004 |
100% on the first 3% of employee contribution | |
NextEra Energy Duane Arnold, LLC Non-Bargaining Employees hired prior to January 27, 2006 and NextEra Energy Point Beach, LLC Non-Bargaining Employees hired prior to September 28, 2007
NextEra Energy Duane Arnold, LLC Bargaining Unit Employees and NextEra Energy Point Beach Bargaining Unit Employees (not represented by IBEW 2150) |
100% on the first 3% of employee contribution 50% on the next 2% of employee contribution | |
NextEra Energy Point Beach Bargaining Unit Employees represented by IBEW 1250 | 100% on the first 1% of employee contribution 50% on the next 6% of employee contribution |
Company matching contributions are made in the form of Company Stock through allocation of shares held in suspense in the Leveraged ESOP Account. 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. Prior to the Plan Merger, the Plan was allocated a 2013 Company cash contribution of $518,863 (see
Note 5). Contributions are subject to certain limitations.
Forfeitures
Forfeitures of non-vested Company matching contributions due to termination of employment may be used to restore amounts previously forfeited or to reduce the amount of future Company matching contributions to the Plan or may be applied to administrative expenses. At December 31, 2013 and 2012, the balance of the forfeiture account was $76,103 and $40,579, respectively. Forfeitures applied to administrative fees in 2013 totaled $26,772. In addition, forfeitures totaling $1,048,167 were used to reduce the amount of Company matching contribution during 2013.
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.
5
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
NextEra Energy Seabrook, LLC non-bargaining employees hired prior to November 1, 2002, NextEra Energy Duane Arnold, LLC non-bargaining employees hired prior to January 27, 2006 and NextEra Energy Point Beach, LLC non-bargaining employees hired prior to September 28, 2007 are fully vested immediately in Company matching contributions. For employees of NextEra Energy Maine Operating Services, LLC 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, LLC 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.
Notes Receivable from Participants
Each Participant may borrow from his or her account a minimum of $1,000 up to a maximum of $50,000 or 50% of the vested value of the account (reduced by prior loans), whichever is less. The vested portion of a Participants account will be pledged as security for the loan. The annual rate of interest on Participant loans is fixed and takes into account the prime rate at the time of origination of the loan. The interest rates range from 3.25% to 7.75% for loans outstanding at December 31, 2013. The maturity dates for loans outstanding at December 31, 2013 ranged from 2014 through 2018.
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 Participants 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.
Transfers to (from) the Plan represented net transfers between the Plan and the Bargaining Plan prior to the Plan Merger. The majority of transfers arose as a result of Participants transferring between bargaining unit and non-bargaining unit positions while employed by the Company and its affiliated companies.
The Transfer related to Plan Merger on the Statement of Changes in Net Assets Available for Benefits is a result of the Plan Merger, see Note 2 for further details.
Administrative Expenses
The Company pays a portion of the administrative expenses of the Plan. All other expenses are paid directly by the Plan through forfeitures or revenue sharing that the Plan receives either directly or indirectly from certain of the Plans investment options. Any fees paid directly by the Company are not included in the financial statements.
Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA and the Code that limit this right while Leveraged ESOP Acquisition Indebtedness remains outstanding. In the event of Plan termination, Participants will become 100% vested in their accounts.
6
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
2. | Plan Merger |
Effective December 31, 2013, the Bargaining Plan was merged with and into the Plan. Bargaining Plan Net Assets Available for Benefits of $881,197,866 were transferred to the Plan and are reflected as Transfer related to Plan Merger in the Statement of Changes in Net Assets Available for Benefits.
3. | Summary of Significant Accounting Policies |
Basis of Accounting
The financial statements of the Plan are prepared under the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.
Use of Estimates
The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Investment Valuation
The Plans investments are reported at fair value. Fair value measurement guidance emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and sets out a fair value hierarchy intended to disclose information about the relative reliability of fair value measurements, with the highest priority being unadjusted quoted prices in active markets for identical assets or liabilities.
In some cases, a valuation technique used to measure fair value may include inputs from multiple levels of fair value hierarchy. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.
Prior to December 31, 2013 the fair value of the Plans interest in the Master Trust was based on the beginning of year value of the Plans interest in the Master Trust plus actual contributions and allocated investment income less actual distributions and expenses. The underlying investments of the Master Trust were valued at fair value.
The Plan recognizes transfers into and out of fair value hierarchy levels at the beginning of the period.
The following are descriptions of the valuation methods and assumptions used by the Plan to estimate the fair values of investments held by the Plan, as well as investments held as underlying investments of the Master Trust.
Registered investment companies (mutual funds), Company Stock and other common stock: Investments in shares of registered investment companies are valued at quoted market prices in active markets (level 1 inputs), which represent the net asset value of such shares at year end. Investments in shares of actively traded money market mutual funds are stated at the net asset value of such shares held at year-end (level 1 inputs). Company Stock and other common stock are valued at their quoted market price in active markets (level 1 inputs).
Investment in shares of fixed income commingled funds, which are registered investment companies, are valued at the net asset value of such shares held (level 2 inputs). The investment objectives of these registered investment companies valued at net asset value vary, with some holding diversified portfolios of domestic or international stocks, diversified portfolios of bonds, inflation-protected bonds, money market securities and/or real estate 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. There are currently no unfunded commitments related to any of these registered investment companies.
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 managers 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 some holding diversified portfolios of domestic or international stocks, diversified portfolios of bonds, inflation-protected bonds, money market securities, commodity securities and/or real estate securities. Each collective trust fund provides for daily redemptions reported at net asset value per unit share, with no advance notice requirement. There are currently no unfunded commitments related to any collective trust fund.
7
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
Managed Income Fund: The Managed Income Fund holds fully benefit-responsive investment contracts (wrapper contracts) (see Note 8 Managed Income Fund) with various insurance companies and financial institutions in order to provide Participants with a stable, fixed-rate of return on investments and protection of principal from changes in market interest rates.
The Managed Income Fund is a synthetic guaranteed investment contract which is valued at the estimated fair value of the underlying investments of the contracts, primarily debt securities and wrapper contracts. The fair values of U.S. Treasury notes are reflected at the closing price reported in the active market in which the security is traded (level 1 inputs). Asset-backed and mortgage-backed securities are valued at their most recent bid prices (sales prices if their principal market is an exchange) in the principal market in which such securities are traded, as determined by recognized dealers in such securities, or are valued on the basis of information provided by a pricing service (level 2 inputs). The fair values of corporate bonds are estimated based on yields currently available on comparable securities of issues with similar credit ratings (level 2 inputs). The fair values of government agency notes are estimated based on current rates for similar instruments (level 2 inputs).
Wrapper contracts: Investments in wrapper contracts are valued at fair value using a discounted cash flow model which considers recent fee bids as determined by recognized dealers, discount rate, and the duration of the underlying portfolio of securities. For 2013 and 2012, the fair value of the wrapper contracts was not material. The contracts are unallocated in nature and are fully benefit-responsive. Therefore, net assets available for benefits reflects the Plans interest in the contract value of the Managed Income Fund because the Plans allocable share of the difference between fair value and contract value for this investment is presented as a separate adjustment in the statement of net assets available for benefits. There are no reserves against contract values (which represent contributions made under the contract, plus earnings, less withdrawals and administrative expenses) for credit risk of the contract issuer or otherwise. Wrapper contracts provide the Managed Income Fund with the ability to use contract value accounting to maintain a constant $1.00 unit price. Wrapper contracts also provide for the payment of Participant-directed withdrawals and exchanges at contract value (principal and interest accrued to date) during the term of the wrapper contracts. However, withdrawals prompted by certain events (e.g., layoffs, retirement during specified early retirement window periods, spin-offs, sale of a division, facility closings, plan terminations, partial plan terminations, changes in law or regulation, material breach of contract responsibilities, loss of the Plans qualified status, etc.) may be paid at fair value which may be less than contract value. Currently, management believes that the occurrence of an event that would cause the Plan to be paid at less than contract value is not probable. A wrap issuer may terminate a wrapper contract at any time; however, if the fair value of the contract is less than the contract value, the wrap issuer can either hold the contract until the fair value and contract value are equal or make up the difference between the two. If the funds in the wrapper contracts are needed for benefit payments prior to contract maturity, they may be withdrawn without penalty.
Investment Income Recognition
Purchases and sales of investment securities are recorded on the trade date. Gains or losses on sales of investment securities are determined using the average cost method of the securities. The carrying amounts of securities held in Participant 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.
Notes Receivable from Participants
Notes receivable from Participants 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.
Subsequent Events
The Company has evaluated events and transactions through the date these financial statements were issued.
4. | 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.
8
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
5. | Leveraged Employee Stock Ownership Plan (Nonparticipant-Directed Unallocated) |
The Leveraged ESOP Account holds unallocated Company Stock that was purchased by the Master Trust on behalf of the Plan and the Bargaining Plan and the associated Acquisition Indebtedness.
Up to the Plan Merger Date (see Notes 1 and 2), the Leveraged ESOP Account was allocated to the Plan and Bargaining Plan for financial reporting purposes proportionately based on each Plans relative end-of-year net assets excluding the net assets of the Leveraged ESOP Account. At December 31, 2012, the Plans allocation of Company Stock held in the Leveraged ESOP Account, accrued interest receivable, Acquisition Indebtedness and interest payable were reflected in the statements of net assets available for benefits. At December 31, 2013, the Plan held all of the remaining unallocated Company Stock as well as the entire outstanding Acquisition Indebtedness and interest payable. Prior to the Plan Merger, the net effect of a change in the allocation percentage from year to year for the Plan and the Bargaining Plan was reported as a reallocation of the Leveraged ESOP Account. The value of the shares allocated to accounts of Participants under the Plan was not affected by these allocations.
Company Stock is released from the Leveraged ESOP Account and allocated to accounts of Participants under the Plan at the fair value of the shares on the date of the allocation in satisfaction of part or all of the Companys matching contribution requirement under the Plan. The Acquisition Indebtedness is repaid quarterly from dividends on the shares held by the Leveraged ESOP Account, as well as from cash contributions from the Company. The number of shares released from the Leveraged ESOP Account and allocated to accounts of Participants during the year is based on the ratio of the total of the current years principal and interest payments to the total principal and interest payments remaining, including the current year.
9
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
Condensed financial information for the Leveraged ESOP Account is presented below, and indicates the approximate allocations made to the Plan and Bargaining Plan prior to the Plan Merger. The net assets information below has been allocated to the Plan and, at December 31, 2012, to the Plan and the Bargaining Plan, but not to the Participants. The effect of the 2013 Leveraged ESOP activity on net assets has been allocated to the Plan but not to the Participants and is included in the financial statements of the Plan.
December 31, 2013 | ||||
Total Leveraged ESOP Account |
||||
Allocation Percentage |
100% | |||
Accrued interest receivable |
$ | 27 | ||
Employer contribution receivable |
702,141 | |||
Company Stock |
155,368,278 | |||
|
|
|||
Total assets |
156,070,446 | |||
|
|
|||
Interest payable |
179,076 | |||
Acquisition Indebtedness |
55,441,627 | |||
|
|
|||
Total liabilities |
55,620,703 | |||
|
|
|||
Net assets at December 31, 2013 |
$ | 100,449,743 | ||
|
|
December 31, 2012 | ||||||||||||
Total Leveraged ESOP Account |
Plan | Bargaining Plan | ||||||||||
Allocation Percentage |
100% | 73.33% | 26.67% | |||||||||
Accrued interest receivable |
$ | 85 | $ | 62 | $ | 23 | ||||||
Employer contribution receivable |
5,323,812 | 3,903,749 | 1,420,063 | |||||||||
Registered investment companies |
316,769 | 232,275 | 84,494 | |||||||||
Company Stock |
185,160,743 | 135,771,337 | 49,389,406 | |||||||||
|
|
|
|
|
|
|||||||
Total assets |
190,801,409 | 139,907,423 | 50,893,986 | |||||||||
|
|
|
|
|
|
|||||||
Interest payable |
267,006 | 195,785 | 71,221 | |||||||||
Acquisition Indebtedness |
82,664,415 | 60,614,674 | 22,049,741 | |||||||||
|
|
|
|
|
|
|||||||
Total liabilities |
82,931,421 | 60,810,459 | 22,120,962 | |||||||||
|
|
|
|
|
|
|||||||
Net assets at December 31, 2012 |
$ | 107,869,988 | $ | 79,096,964 | $ | 28,773,024 | ||||||
|
|
|
|
|
|
10
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
Year Ended December 31, 2013 | ||||||||||||
Total Leveraged ESOP Account |
Plan | Bargaining Plan | ||||||||||
Employer contributions |
$ | 702,141 | $ | 518,863 | $ | 183,278 | ||||||
Interest Income |
362 | 266 | 96 | |||||||||
Dividends |
6,062,630 | 4,480,120 | 1,582,510 | |||||||||
Net appreciation in fair value of Company Stock |
38,111,058 | 28,163,043 | 9,948,015 | |||||||||
|
|
|
|
|
|
|||||||
Total |
44,876,191 | 33,162,292 | 11,713,899 | |||||||||
Interest expense |
(6,694,280 | ) | (4,946,892 | ) | (1,747,388 | ) | ||||||
|
|
|
|
|
|
|||||||
Net gain |
38,181,911 | 28,215,400 | 9,966,511 | |||||||||
Allocation of shares to Plans |
(45,602,156 | ) | (33,381,735 | ) | (12,220,421 | ) | ||||||
Reallocation of Leveraged ESOP |
| 299,020 | (299,020 | ) | ||||||||
|
|
|
|
|
|
|||||||
Effect of current year Leveraged ESOP Activity on net assets |
(7,420,245 | ) | (4,867,315 | ) | (2,552,930 | ) | ||||||
Transfer related to Plan Merger (a) |
| 26,220,094 | (26,220,094 | ) | ||||||||
Net assets at December 31, 2012 |
107,869,988 | 79,096,964 | 28,773,024 | |||||||||
|
|
|
|
|
|
|||||||
Net assets at December 31, 2013 |
$ | 100,449,743 | $ | 100,449,743 | $ | | ||||||
|
|
|
|
|
|
(a) | Refer to Notes 1 and 2 for additional disclosure regarding Plan Merger on December 31, 2013. |
Acquisition Indebtedness
In December 1990, the Master Trust, which held assets for the Plan and the Bargaining Plan, borrowed $360 million from NextEra Energy Capital Holdings, Inc. to purchase approximately 24.8 million shares of Company Stock. The Acquisition Indebtedness is currently held by EMB Investments, Inc. (the Lender) which is a wholly-owned subsidiary of NextEra Energy Capital Holdings, Inc. The Acquisition Indebtedness is currently scheduled to mature in 2016, bears interest at a fixed rate of 9.69% per annum and is to be repaid using dividends received on both Company Stock held by the Leveraged ESOP Account and Leveraged ESOP shares allocated to accounts of participants under the Plan and, prior to the Plan Merger, the Bargaining Plan, together with cash contributions from the Company. For dividends on shares allocated to participant accounts used to repay the loan, additional shares equal in value to those dividends are allocated to accounts of participants under the Plan and, prior to the Plan Merger, the Bargaining Plan. In 2013, dividends received from both shares held by the Leveraged ESOP Account and shares allocated to accounts of participants under the Plan and the Bargaining Plan totaled $6,062,630 and $22,501,061, respectively. Employer contributions for the 2013 debt service shortfall totaled $702,141.
The unallocated shares of Company Stock acquired with the proceeds of the Acquisition Indebtedness are collateral for the Acquisition Indebtedness. 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 participant accounts used to repay the Acquisition Indebtedness. The Company typically makes optional prepayments of the Acquisition Indebtedness when the number of shares required to provide Company matching contributions and to restore dividends on allocated Leveraged ESOP shares used to repay the Acquisition Indebtedness exceeds the shares released from collateral resulting from scheduled debt payments. In 2013, the lender and the Company agreed to the release of Leveraged ESOP shares prior to the receipt of certain optional debt prepayments, provided that the aggregate amount due was paid by March 2014. Such aggregate amount totaled $1,072,939, of which $370,798 was paid in December 2013 and the remaining balance of $702,141 was paid in March 2014. During 2013, 861,494 shares of Company Stock were released from collateral for the Acquisition Indebtedness. The 861,494 shares consisted of 577,923 shares to provide Company matching contributions and 283,571 shares to restore dividends on allocated Leveraged ESOP shares used to repay the Acquisitions Indebtedness. The Leveraged ESOP debt, with carrying values of $55,441,627 and $82,664,415 at December 31, 2013 and 2012, 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).
11
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
The scheduled principal repayments and 2014 optional prepayment of Acquisition Indebtedness are as follows:
Year |
Repayment Amount | |||
2014 | $ | 24,835,245 | ||
2015 | $ | 27,265,500 | ||
2016 | $ | 3,340,882 |
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 Acquisition Indebtedness is currently held by the Lender which is a wholly-owned subsidiary of NextEra Energy Capital Holdings, Inc., which is a wholly-owned subsidiary of the Company. As of December 31, 2013, 1,814,626 shares of Company Stock held by the Plan served as collateral for the outstanding Leveraged ESOP Acquisition Indebtedness. As of December 31, 2012, 2,676,120 shares of Company Stock held by the Master Trust served as collateral for the outstanding Leveraged ESOP Acquisition Indebtedness. Amounts receivable from the Company for the optional debt prepayment made in March 2014 are reflected as an employer contribution receivable (see Note 5).
Dividend income earned by the Plan includes dividends on Company Stock. Dividends on shares held in the Leveraged ESOP Account and the Companys Stock LESOP Fund (see Note 8 NextEra Energy, Inc. Stock LESOP Fund) were used to repay in part the Acquisition Indebtedness. Certain dividends on shares held in Participants accounts are reinvested in Company Stock for the benefit of the Plans Participants pursuant to the Companys Dividend Reinvestment and Direct Stock Purchase Plan in which the Trustee participates.
At December 31, 2013 and 2012, the number of shares of Company Stock held in Participant accounts totaled 12,749,692 and 9,830,027, respectively, with a fair value of $1,091,628,657 and $680,139,593, respectively. During 2013, dividends on shares of Company Stock held in Participants accounts totaled $25,220,005. During 2013, the Plans proportionate share of dividends on shares of Company Stock held in the Leveraged ESOP Account totaled $4,480,120.
Certain Plan investments are managed by an affiliate of the Trustee and, therefore, these transactions qualify as party-in-interest transactions. Notes receivable from Participants held by the Plan of $70,604,491 and $42,665,318 at December 31, 2013 and December 31, 2012, respectively, are also considered party-in-interest transactions.
7. | Investments/Interest in Master Trust |
Prior to December 31, 2013, all of the Plans assets and liabilities were commingled with the assets of the Bargaining Plan in the Master Trust.
The Plans relative share of ownership of the total net assets of the Master Trust was approximately 73.33% at December 31, 2012. The Plans relative share of ownership varied in each of the underlying investments of the Master Trust, excluding the Leveraged ESOP Account (see Note 5), based on Participants investment elections. Prior to the Plan Merger, income, and the expenses of, the Master Trust were allocated to the Plan and the Bargaining Plan based on each plans interest in the underlying investments of the Master Trust.
12
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
The following table presents net assets held by the Plan as of December 31, 2013 and in the Master Trust as of December 31, 2012, including the fair value of investments held, and the contract value adjustment, as applicable, pertaining to the fully benefit-responsive investment contracts held.
December 31, | ||||||||
2013 | 2012 | |||||||
Assets |
||||||||
Investments at fair value: |
||||||||
Registered investment companies |
$ | 532,522,973 | $ | 528,764,898 | ||||
Collective trust funds |
919,369,341 | 750,150,989 | ||||||
Common stocks |
1,565,962,519 | 1,350,944,375 | ||||||
U.S. Treasury notes |
168,724,309 | 223,643,111 | ||||||
Government agency notes |
34,014,907 | 31,913,000 | ||||||
Asset-back securities |
41,763,027 | 30,697,915 | ||||||
Mortgage-backed securities |
52,329,930 | 49,202,156 | ||||||
Corporate bonds |
49,418,093 | 41,119,621 | ||||||
Other |
79,401 | 444,700 | ||||||
|
|
|
|
|||||
Total investments at fair value |
3,364,184,500 | 3,006,880,765 | ||||||
Notes receivable from Participants |
70,604,491 | 67,459,350 | ||||||
Employer contribution receivable |
702,141 | 5,323,812 | ||||||
Accrued interest and other receivables |
9,434,414 | 5,475,935 | ||||||
Non-interest bearing cash |
918,311 | 19,522 | ||||||
|
|
|
|
|||||
Total assets |
3,445,843,857 | 3,085,159,384 | ||||||
|
|
|
|
|||||
Liabilitites |
||||||||
Leveraged ESOP note payable |
55,441,627 | 82,664,415 | ||||||
Interest payable (Leveraged ESOP) |
179,076 | 267,006 | ||||||
Other payables |
7,176,478 | 3,674,460 | ||||||
|
|
|
|
|||||
Total liabilities |
62,797,181 | 86,605,881 | ||||||
|
|
|
|
|||||
Net assets reflecting all investments at fair value |
3,383,046,676 | 2,998,553,503 | ||||||
Adjustments from fair value to contract value for fully benefit-responsive investment contracts |
(7,154,023 | ) | (13,789,130 | ) | ||||
|
|
|
|
|||||
Net assets |
$ | 3,375,892,653 | $ | 2,984,764,373 | ||||
|
|
|
|
Investment income for the Master Trust was as follows:
Year Ended December 31, 2013 |
||||
Investment income (1) |
||||
Net appreciation in fair value of investments: |
||||
Registered investment companies |
$ | 35,306,151 | ||
Collective trust funds |
150,801,319 | |||
Company Stock |
255,971,521 | |||
Common stocks |
90,390,202 | |||
|
|
|||
Total net appreciation |
532,469,193 | |||
Interest and dividends |
82,543,390 | |||
|
|
|||
Total investment income |
$ | 615,012,583 | ||
|
|
(1) | The table includes investment income from the Leveraged ESOP (See Note 5). |
13
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
The following table sets forth by level, within the fair value hierarchy, the Plans assets that are measured at fair value on a recurring basis as of December 31, 2013:
Fair Value Measurements At December 31, 2013 using |
||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
Total | |||||||||||||
Participant-directed investments: |
||||||||||||||||
Equity securities: |
||||||||||||||||
Common stocks (a) |
$ | 318,965,584 | $ | | $ | | $ | 318,965,584 | ||||||||
Company Stock |
375,171,456 | | | 375,171,456 | ||||||||||||
Equity commingled funds (b)(c) |
347,516,303 | 583,130,690 | | 930,646,993 | ||||||||||||
Fixed income commingled funds (d)(e) |
84,113,063 | 148,585,694 | | 232,698,757 | ||||||||||||
Blended commingled funds (f) |
| 282,110,564 | | 282,110,564 | ||||||||||||
U.S. Treasury notes |
168,724,309 | | | 168,724,309 | ||||||||||||
Government agency notes (g) |
| 34,014,907 | | 34,014,907 | ||||||||||||
Asset-backed securities |
| 41,763,027 | | 41,763,027 | ||||||||||||
Mortgage-backed securities |
| 52,329,930 | | 52,329,930 | ||||||||||||
Corporate bonds |
| 49,418,093 | | 49,418,093 | ||||||||||||
Other |
| 79,401 | | 79,401 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total participant-directed investments |
1,294,490,715 | 1,191,432,306 | | 2,485,923,021 | ||||||||||||
Nonparticipant-directed investments (Leveraged ESOP): | ||||||||||||||||
Equity securities: |
||||||||||||||||
Company Stock |
871,825,479 | | | 871,825,479 | ||||||||||||
Fixed income commingled funds (d) |
6,436,000 | | | 6,436,000 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total nonparticipant-directed investments |
878,261,479 | | | 878,261,479 | ||||||||||||
Total investments at fair value |
$ | 2,172,752,194 | $ | 1,191,432,306 | $ | | $ | 3,364,184,500 | ||||||||
|
|
|
|
|
|
|
|
(a) | Includes foreign investments of $2,979,858 classified as Level 1. |
(b) | Includes registered investment companies of $347,516,303 classified as Level 1. |
(c) | Includes collective trust funds of $583,130,690 including foreign funds of $133,473,626 classified as Level 2. |
(d) | Includes money market mutual fund investments of $86,888,516 and registered investment company investments of $3,660,547 classified as Level 1. |
(e) | Includes registered investment company investments of $94,457,608 and collective trust fund investments of $54,128,086 classified as Level 2. |
(f) | Includes collective trust fund investments of $282,110,564 classified as Level 2. |
(g) | Includes foreign investments of $3,059,689 classified as Level 2. |
During the 2013 Plan year there were no transfers between Level 1 and Level 2 investments.
14
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
The following table sets forth by level, within the fair value hierarchy, the Master Trusts assets that are measured at fair value on a recurring basis as of December 31, 2012:
Fair Value Measurements At December 31, 2012 using |
||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
Total | |||||||||||||
Participant-directed investments: |
||||||||||||||||
Equity securities: |
||||||||||||||||
Common stocks |
$ | 231,043,358 | $ | | $ | | $ | 231,043,358 | ||||||||
Company Stock |
334,380,443 | | | 334,380,443 | ||||||||||||
Equity commingled funds (a)(b) |
274,634,448 | 462,494,973 | | 737,129,421 | ||||||||||||
Fixed income commingled funds (c)(d) |
113,076,253 | 185,530,698 | | 298,606,951 | ||||||||||||
Blended commingled funds (e) |
| 237,693,431 | | 237,693,431 | ||||||||||||
U.S. Treasury notes |
223,643,111 | | | 223,643,111 | ||||||||||||
Government agency notes (f) |
| 31,913,000 | | 31,913,000 | ||||||||||||
Asset-backed securities |
| 30,697,915 | | 30,697,915 | ||||||||||||
Mortgage-backed securities |
| 49,202,156 | | 49,202,156 | ||||||||||||
Corporate bonds |
| 41,119,621 | | 41,119,621 | ||||||||||||
Other |
| 444,700 | | 444,700 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total participant-directed investments |
1,176,777,613 | 1,039,096,494 | | 2,215,874,107 | ||||||||||||
Nonparticipant-directed investments (Leveraged ESOP): |
||||||||||||||||
Equity securities: |
||||||||||||||||
Company Stock |
785,520,574 | | | 785,520,574 | ||||||||||||
Fixed income commingled funds (c) |
5,486,084 | | | 5,486,084 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total nonparticipant-directed investments |
791,006,658 | | | 791,006,658 | ||||||||||||
Total investments at fair value |
$ | 1,967,784,271 | $ | 1,039,096,494 | $ | | $ | 3,006,880,765 | ||||||||
|
|
|
|
|
|
|
|
(a) | Includes registered investment companies of $274,634,448 including foreign funds of $4,423,631 classified as Level 1. |
(b) | Includes collective trust funds of $462,494,973 including foreign funds of $118,542,050 classified as Level 2. |
(c) | Includes money market mutual funds of $118,562,337 classified as Level 1. |
(d) | Includes registered investment companies of $135,568,113 and collective trust funds of $49,962,585 classified as Level 2. |
(e) | Includes collective trust funds of $237,693,431 classified as Level 2. |
(f) | Includes foreign funds of $3,336,529 classified as Level 2. |
During the 2012 Plan year there were no transfers between Level 1 and Level 2 investments.
15
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
The Plans portion of interest in the total participant-directed assets of the Master Trust as of December 31, 2012 was as follows:
December 31, | ||||
2012 | ||||
Assets: |
||||
Mutual Funds: |
||||
Fidelity Low-priced Stock Fund Class K |
$ | 47,817,727 | ||
JPMorgan U.S. Government Money Market Fund |
58,053,125 | |||
Royce Premier Fund Institutional |
86,564,815 | |||
Cohen & Steers Institutional Realty Shares |
46,535,074 | |||
Vanguard Prime Cap Core Fund |
9,107,849 | |||
|
|
|||
Total mutual funds |
248,078,590 | |||
Collective Trust Funds: |
||||
PIMCO Diversified Real Asset Trust |
10,706,084 | |||
BTC Russell 3000 Index Fund C |
22,062,425 | |||
BTC U.S. Debt Index Fund C |
33,803,354 | |||
BTC MSCI ACWI Index C |
22,631,705 | |||
BTC Equity Index C |
79,525,939 | |||
Legg Mason Value Equity Collective Investment Fund |
41,706,718 | |||
Thornburg International Equity Fund |
67,332,754 | |||
Vanguard Target Retirement 2015 Trust II |
73,923,156 | |||
Vanguard Target Retirement 2025 Trust II |
67,935,362 | |||
Vanguard Target Retirement 2035 Trust II |
102,389,781 | |||
Vanguard Target Retirement 2045 Trust II |
26,956,018 | |||
Vanguard Target Retirement Income Trust II |
33,282,674 | |||
|
|
|||
Total collective trust funds |
582,255,970 | |||
NextEra Energy, Inc. Stock Fund |
229,684,665 | |||
Managed Income Fund |
291,196,621 | |||
Large Cap Growth Fund |
87,165,064 | |||
Equity Income Fund |
49,697,684 | |||
PIMCO Total Return Bond Fund |
96,215,859 | |||
Small Mid Cap Growth Fund |
36,037,358 | |||
|
|
|||
Total assets, at fair value |
$ | 1,620,331,811 | ||
|
|
Individual investments in the Plan that represent 5% or more of the Plans net assets available for benefits as of December 31, 2013 are as follows:
December 31, | ||||
2013 | ||||
NextEra Energy, Inc. common stock: |
||||
Held in NextEra Energy, Inc. LESOP Stock Fund (non-participant directed allocated) |
$ | 716,457,201 | ||
Held in NextEra Energy, Inc. Stock Fund |
375,171,456 | |||
Held in NextEra Energy, Inc. LESOP Stock Fund (non-participant directed unallocated) |
155,368,278 | |||
|
|
|||
Total NextEra Energy, Inc. common stock |
$ | 1,246,996,935 | ||
|
|
As of December 31, 2012, the Plans investment in the Master Trust represented more than 5% of the Plans net assets available for benefits.
16
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
8. | Pooled Funds of the Plan/Master Trust |
Prior to the Plan Merger, within the Master Trust were certain pooled funds in which the Plan and the Bargaining Plan participated. The Plan and the Bargaining Plan held undivided interests in the assets and liabilities of these pooled funds prior to the Plan Merger. After the Plan Merger, the Plan held all interests in the assets and liabilities of these pooled funds. These pooled funds include the Leveraged ESOP Account (unallocated portion), the NextEra Energy, Inc. Stock LESOP Fund (allocated portion), the Managed Income Fund, the NextEra Energy, Inc. Stock Fund, the Large Cap Growth Fund managed by T. Rowe Price, the Equity Income Fund managed by T. Rowe Price, the Mid-Cap Growth Fund managed by Friess Associates, the PIMCO Total Return Bond Fund managed by PIMCO and the Small Mid Cap Growth Fund managed by Delaware Investments. All of these pooled funds except the Leveraged ESOP Account are described below. The Leveraged ESOP Account is described in Note 5.
Managed Income Fund
The value of the Plans interest in the Managed Income Fund included in the statements of net assets available for benefits represents 100.00% and approximately 71.18% of the net assets of that fund at December 31, 2013 and 2012, respectively. Prior to the Plan Merger, the fully benefit-responsive investment contracts held in the Managed Income Fund were allocated to the Plan and the Bargaining Plan based on each Plans proportionate share of participation in the Managed Income Fund. The Managed Income Funds net assets available for benefits consisted of the following:
December 31, | ||||||||
2013 | 2012 | |||||||
U.S. Treasury notes |
$ | 168,724,309 | $ | 223,643,111 | ||||
Government agency notes |
34,014,907 | 31,913,000 | ||||||
Asset-backed securities |
41,763,027 | 30,697,916 | ||||||
Mortgage-backed securities |
52,329,930 | 49,202,156 | ||||||
Corporate bonds |
49,418,093 | 41,119,621 | ||||||
Collective trust funds |
5,955,873 | 2,211,181 | ||||||
Registered investment companies |
900,292 | 30,188,501 | ||||||
Pending trades due from brokers |
5,352,357 | | ||||||
Other receivables |
131,812 | 1,602,354 | ||||||
Other |
79,401 | 444,700 | ||||||
|
|
|
|
|||||
Total assets |
358,670,001 | 411,022,540 | ||||||
Pending trades due to brokers |
4,996,289 | | ||||||
Other payables |
622,409 | 1,898,145 | ||||||
|
|
|
|
|||||
Total liabilities |
5,618,698 | 1,898,145 | ||||||
Net assets, reflecting all investments at fair value |
353,051,303 | 409,124,395 | ||||||
|
|
|
|
|||||
Adjustments from fair value to contract value for fully benefit-responsive investment contracts |
(7,154,023 | ) | (13,789,130 | ) | ||||
|
|
|
|
|||||
Net assets at contract value |
$ | 345,897,280 | $ | 395,335,265 | ||||
|
|
|
|
The net investment gain in the Managed Income Fund for the year ended December 31, 2013, included interest income in the amount of $5,636,259.
At December 31, 2013, the contract value and fair value of fully benefit-responsive investment contracts was $344,996,988 and $352,151,011, respectively. At December 31, 2012, the Plans portion of the contract value and fair value of fully benefit-responsive investment contracts was $259,895,291 and $269,709,783, respectively. The fair value of fully benefit-responsive investment contracts excludes short term investments in registered investment companies of $900,292 and $21,486,838, respectively, at December 31, 2013 and 2012. The average yield for the portfolio of fully benefit-responsive investment contracts based on annualized earnings was 1.49% and 1.50% for 2013 and 2012, respectively. The average yield based on the interest rate credited to Participants at December 31, 2013 and December 31, 2012 was 1.44% and 1.57%, respectively. The crediting
17
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
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 interest crediting 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.
NextEra Energy, Inc. Stock Fund
The value of the Plans interest in the NextEra Energy, Inc. Stock Fund included in the statements of net assets available for benefits represents 100.00% and approximately 68.00% of the net assets of that fund at December 31, 2013 and 2012, respectively. The NextEra Energy, Inc. Stock Funds net assets available for benefits consisted of the following:
December 31, | ||||||||
2013 | 2012 | |||||||
Assets |
||||||||
Investments, at fair value: |
||||||||
Company Stock |
$ | 375,171,456 | $ | 334,380,443 | ||||
Registered investment companies |
2,777,255 | 1,348,982 | ||||||
|
|
|
|
|||||
Total investments |
377,948,711 | 335,729,425 | ||||||
|
|
|
|
|||||
Other receivables |
53,933 | 1,984,739 | ||||||
|
|
|
|
|||||
Total assets |
378,002,644 | 337,714,164 | ||||||
|
|
|
|
|||||
Other liabilities |
111,882 | 117,197 | ||||||
|
|
|
|
|||||
Net assets |
$ | 377,890,762 | $ | 337,596,967 | ||||
|
|
|
|
The net investment income in the NextEra Energy, Inc. Stock Fund earned by the Master Trust for the year ended December 31, 2013, was comprised of interest and dividend income in the amount of $12,181,666 and net realized and unrealized appreciation in the fair value of Company Stock in the amount of $76,154,536.
Large Cap Growth Fund managed by T. Rowe Price
The value of the Plans interest in the Large Cap Growth Fund managed by T. Rowe Price (Large Cap Growth Fund) included in the statement of net assets available for benefits represents 100.00% and approximately 74.50% of the net assets of that fund at December 31, 2013 and 2012, respectively. The Large Cap Growth Funds net assets available for benefits consisted of the following:
December 31, | ||||||||
2013 | 2012 | |||||||
Assets |
||||||||
Investments, at fair value: |
||||||||
Common stocks |
$ | 164,775,042 | $ | 115,874,431 | ||||
Collective trust funds |
1,475,717 | 624,681 | ||||||
Non-interest bearing cash |
194,271 | | ||||||
|
|
|
|
|||||
Total investments |
166,445,030 | 116,499,112 | ||||||
|
|
|
|
|||||
Other receivables |
585,489 | 958,558 | ||||||
|
|
|
|
|||||
Total assets |
167,030,519 | 117,457,670 | ||||||
|
|
|
|
|||||
Other liabilities |
479,569 | 481,593 | ||||||
|
|
|
|
|||||
Net assets |
$ | 166,550,950 | $ | 116,976,077 | ||||
|
|
|
|
18
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
The net investment income in the Large Cap Growth Fund earned by the Master Trust for the year ended December 31, 2013, was comprised of interest and dividend income in the amount of $871,052 and net realized and unrealized appreciation in the fair value of common stocks and collective trust funds in the amount of $50,369,516.
Mid-Cap Growth Fund managed by Friess Associates
During 2012 the Mid-Cap Growth Fund managed by Friess Associates was replaced with the Small Mid Cap Growth Fund managed by Delaware Investments. The majority of existing balances and future Participant elected contributions in the Mid-Cap Growth Fund managed by Friess Associates were transferred to the Small Mid Cap Growth Fund managed by Delaware Investments. The Mid-Cap Growth Fund managed by Friess Associates net assets available for benefits consisted of the following:
December 31, | ||||
2012 | ||||
Assets |
||||
Investments, at fair value: |
||||
Non-interest bearing cash |
$ | 5,228 | ||
|
|
|||
Total investments |
5,228 | |||
|
|
|||
Total assets |
5,228 | |||
|
|
|||
Other liabilities |
5,228 | |||
|
|
|||
Net assets |
$ | | ||
|
|
Equity Income Fund managed by T. Rowe Price
The value of the Plans interest in the Equity Income Fund managed by T. Rowe Price included in the statement of net assets available for benefits represents 100.00% and approximately 74.70% of the net assets of that fund at December 31, 2013 and 2012, respectively. The Equity Income Fund managed by T. Rowe Price net assets available for benefits consisted of the following:
December 31, | ||||||||
2013 | 2012 | |||||||
Assets |
||||||||
Investments, at fair value: |
||||||||
Common stocks |
$ | 83,783,061 | $ | 63,874,639 | ||||
Collective trust funds |
5,212,032 | 2,805,007 | ||||||
Non-interest bearing cash |
265,288 | | ||||||
|
|
|
|
|||||
Total investments |
89,260,381 | 66,679,646 | ||||||
|
|
|
|
|||||
Other receivables |
279,373 | 233,188 | ||||||
|
|
|
|
|||||
Total assets |
89,539,754 | 66,912,834 | ||||||
|
|
|
|
|||||
Other liabilities |
189,578 | 376,149 | ||||||
|
|
|
|
|||||
Net assets |
$ | 89,350,176 | $ | 66,536,685 | ||||
|
|
|
|
The net investment income in the Equity Income Fund managed by T. Rowe Price earned by the Master Trust for the year ended December 31, 2013, was comprised of interest and dividend income in the amount of $2,125,295 and net realized and unrealized appreciation in the fair value of common stocks and collective trust funds in the amount of $18,732,618.
19
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
PIMCO Total Return Bond Fund
The value of the Plans interest in the PIMCO Total Return Bond Fund included in the statement of net assets available for benefits represents 100.00% and approximately 70.50% of the net assets of that fund at December 31, 2013 and 2012, respectively. The PIMCO Total Return Bond Fund net assets available for benefits consisted of the following:
December 31, | ||||||||
2013 | 2012 | |||||||
Assets |
||||||||
Investments, at fair value: |
||||||||
Registered investment companies |
$ | 94,457,608 | $ | 135,568,113 | ||||
Collective trust funds |
| 593,640 | ||||||
|
|
|
|
|||||
Total investments |
94,457,608 | 136,161,753 | ||||||
|
|
|
|
|||||
Other receivables |
2,831,213 | 645,162 | ||||||
Non-interest bearing cash |
105,997 | | ||||||
Total assets |
97,394,818 | 136,806,915 | ||||||
|
|
|
|
|||||
Other liabilities |
189,752 | 284,464 | ||||||
|
|
|
|
|||||
Net assets |
$ | 97,205,066 | $ | 136,522,451 | ||||
|
|
|
|
The net investment income in the PIMCO Total Return Bond Fund earned by the Master Trust for the year ended December 31, 2013, was comprised of interest and dividend income in the amount of $4,545,297 and net realized and unrealized depreciation in the fair value of registered investment companies and collective trust funds in the amount of $6,882,847.
Small Mid Cap Growth Fund managed by Delaware Investments
The value of the Plans interest in the Small Mid Cap Growth Fund managed by Delaware Investments included in the statement of net assets available for benefits represents 100.00% and approximately 67.80% of the net assets of that fund at December 31, 2013 and 2012, respectively. The Small Mid Cap Growth Fund managed by Delaware Investments net assets available for benefits consisted of the following:
December 31, | ||||||||
2013 | 2012 | |||||||
Assets |
||||||||
Investments, at fair value: |
||||||||
Common stocks |
$ | 70,407,480 | $ | 51,294,290 | ||||
Collective trust funds |
4,610,304 | 2,029,164 | ||||||
Non-interest bearing cash |
352,757 | 14,293 | ||||||
|
|
|
|
|||||
Total investments |
75,370,541 | 53,337,747 | ||||||
|
|
|
|
|||||
Other receivables |
199,474 | 50,098 | ||||||
|
|
|
|
|||||
Total assets |
75,570,015 | 53,387,845 | ||||||
|
|
|
|
|||||
Other liabilities |
421,767 | 237,194 | ||||||
|
|
|
|
|||||
Net assets |
$ | 75,148,248 | $ | 53,150,651 | ||||
|
|
|
|
The net investment income in the Small Mid Cap Growth Fund managed by Delaware Investments earned by the Master Trust for the year ended December 31, 2013, was comprised of interest and dividend income in the amount of $605,638 and net realized and unrealized appreciation in the fair value of common stocks and collective trust funds in the amount of $21,077,530.
20
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
NextEra Energy, Inc. Stock LESOP Fund (Nonparticipant-Directed Allocated)
The value of the Plans interest in the NextEra Energy, Inc. Stock LESOP Fund included in the statements of net assets available for benefits represents 100.00% and approximately 75.40% of the net assets of that fund at December 31, 2013 and 2012, respectively. The NextEra Energy, Inc. Stock LESOP Funds net assets available for benefits consisted of the following:
December 31, | ||||||||
2013 | 2012 | |||||||
Assets |
||||||||
Investments, at fair value: |
||||||||
Company Stock |
$ | 716,457,201 | $ | 600,359,831 | ||||
Registered investment companies |
6,436,000 | 5,169,315 | ||||||
|
|
|
|
|||||
Total investments |
722,893,201 | 605,529,146 | ||||||
|
|
|
|
|||||
Other receivables |
736 | 1,751 | ||||||
|
|
|
|
|||||
Total assets |
722,893,937 | 605,530,897 | ||||||
|
|
|
|
|||||
Other liabilities |
165,232 | 274,488 | ||||||
|
|
|
|
|||||
Net assets |
$ | 722,728,705 | $ | 605,256,409 | ||||
|
|
|
|
The NextEra Energy, Inc. Stock LESOP Funds changes in net assets available for benefits consisted of the following at December 31, 2013:
Additions: |
||||
Allocation of Leveraged ESOP Shares |
$ | 45,602,156 | ||
Earnings on investments: |
||||
Dividends |
22,501,060 | |||
Net appreciation fair value of Company Stock |
141,705,929 | |||
|
|
|||
Total gain on investments |
164,206,989 | |||
|
|
|||
Total additions |
209,809,145 | |||
Deductions: |
||||
Benefits paid to participants or beneficiaries |
53,233,395 | |||
Account maintenance fees |
142,770 | |||
|
|
|||
Total deductions |
53,376,165 | |||
Net increase |
156,432,980 | |||
|
|
|||
Transfers: |
||||
Transfers into the fund |
1,259,829 | |||
Transfers out of fund |
(40,220,513 | ) | ||
|
|
|||
Net transfers |
(38,960,684 | ) | ||
Net assets at December 31, 2012 |
605,256,409 | |||
|
|
|||
Net assets at December 31, 2013 |
$ | 722,728,705 | ||
|
|
21
NEXTERA ENERGY, INC. EMPLOYEE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2013 AND 2012
9. | Income Taxes |
On November 14, 2013, the Internal Revenue Service (IRS) made a favorable determination that the Plan meets the requirements of Section 401(a) of the Code. 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 Acquisition Indebtedness and for dividends on Company Stock distributed directly to Participants. Participants are given the option to receive dividend distributions in cash; all dividends earned by Participants are deductible by the Company.
Company matching contributions to the Plan on a Participants behalf, the Participants Pretax Contributions, and the earnings thereon generally are not taxable to the Participant until such Company matching contributions, Pretax Contributions, and earnings thereon are distributed or withdrawn. A loan from a Participants 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, 2013 and 2012, 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 2010.
10. | Reconciliation of Financial Statements to Form 5500 |
The following is a reconciliation of net assets available for benefits included in the financial statements to Form 5500:
December 31, | ||||||||
2013 | 2012 | |||||||
Net assets available for benefits per the financial statements |
$ | 3,375,892,653 | $ | 2,188,614,687 | ||||
Adjustments from fair value to contract value for fully benefit-responsive investment contracts |
7,154,023 | 9,814,492 | ||||||
|
|
|
|
|||||
Net assets per Form 5500 |
$ | 3,383,046,676 | $ | 2,198,429,179 | ||||
|
|
|
|
The following is a reconciliation of net change in net assets available for benefits per the financial statements to the Form 5500:
December 31, 2013 |
||||
Net increase prior to transfers to the Plan, net and transfer related to the plan merger per the Statement of Changes in Net Assets Available for Benefits |
$ | 304,305,192 | ||
Plus: Current year adjustment to contract value for investments in fully benefit-responsive contracts |
7,154,023 | |||
Less: Prior year adjustment to contract value for investments in fully benefit-responsive contracts |
(9,814,492 | ) | ||
|
|
|||
Net income per Form 5500 |
$ | 301,644,723 | ||
|
|
In accordance with accounting guidance, the Plan presented the investments for fully benefit-responsive investment contracts at fair value on the statement of net assets available for benefits with a reconciling item adjusting back to contract value, which is not required on Form 5500.
22
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, 2013
(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: |
||||||||||||||
Antero Res Corp. |
8,600 | ** | $ | 545,584 | ||||||||||
Pioneer Natural Resources Co |
15,100 | ** | 2,779,457 | |||||||||||
Range Resources Corp |
36,253 | ** | 3,056,490 | |||||||||||
Ecolab Inc. |
14,900 | ** | 1,553,623 | |||||||||||
Praxair Inc. |
17,000 | ** | 2,210,510 | |||||||||||
Sherwin Williams Co |
10,700 | ** | 1,963,450 | |||||||||||
Vulcan Materials Co |
14,400 | ** | 855,648 | |||||||||||
Boeing Co |
32,400 | ** | 4,422,276 | |||||||||||
Danaher Corp |
56,800 | ** | 4,384,960 | |||||||||||
Fastenal Co |
24,500 | ** | 1,163,995 | |||||||||||
Flowserve Corp. |
13,200 | ** | 1,040,556 | |||||||||||
Precision Castparts Corp |
17,400 | ** | 4,685,820 | |||||||||||
United Technologies Corp |
9,800 | ** | 1,115,240 | |||||||||||
Wabtec |
17,800 | ** | 1,322,006 | |||||||||||
FedEx Corp |
20,300 | ** | 2,918,531 | |||||||||||
Kansas City Southern |
9,100 | ** | 1,126,853 | |||||||||||
United Continental Holdings Inc. |
53,500 | ** | 2,023,905 | |||||||||||
Tesla Motors Inc. |
6,400 | ** | 962,432 | |||||||||||
Dr. Horton Inc. |
69,400 | ** | 1,549,008 | |||||||||||
Fossil Group Inc. |
7,100 | ** | 851,574 | |||||||||||
LuLuLemon Athletica Inc. |
4,000 | ** | 236,120 | |||||||||||
Chipotle Mexican Grill Inc. |
3,750 | ** | 1,997,925 | |||||||||||
CTRIP.COM Intl Ltd Adr |
21,000 | ** | 1,051,944 | |||||||||||
Hilton Worldwide Holdings Inc. |
7,800 | ** | 173,550 | |||||||||||
Las Vegas Sands Corp |
45,000 | ** | 3,549,150 | |||||||||||
MGM Resorts International |
35,800 | ** | 842,016 | |||||||||||
Starbucks Corp |
35,800 | ** | 2,806,362 | |||||||||||
Wynn Resorts Ltd |
9,600 | ** | 1,864,416 | |||||||||||
Discovery Comm Inc. Cl C Non-Voting |
19,700 | ** | 1,652,042 | |||||||||||
Twenty First Century Fox Inc A |
55,000 | ** | 1,934,900 | |||||||||||
Amazon.com Inc. |
21,700 | ** | 8,653,743 | |||||||||||
Dollar Tree Inc. |
20,500 | ** | 1,156,610 | |||||||||||
Lowes Cos Inc. |
53,200 | ** | 2,636,060 | |||||||||||
Netflix Inc. |
3,900 | ** | 1,435,863 | |||||||||||
Priceline.Com Inc. |
4,480 | ** | 5,207,552 | |||||||||||
Tractor Supply Co. |
21,300 | ** | 1,652,454 | |||||||||||
Whole Foods Market Inc. |
22,600 | ** | 1,306,958 | |||||||||||
Green Mountain Coffee Roasters Inc. |
3,600 | ** | 272,088 | |||||||||||
Pepsico Inc. |
19,100 | ** | 1,584,154 | |||||||||||
Procter & Gamble Co |
25,100 | ** | 2,043,391 | |||||||||||
Cardinal Surgical Inc. |
21,700 | ** | 1,449,777 | |||||||||||
Intuitive Surgical Inc |
1,700 | ** | 652,936 | |||||||||||
McKesson Corp |
24,500 | ** | 3,954,300 | |||||||||||
Unitedhealth Group Inc. |
31,700 | ** | 2,387,010 | |||||||||||
Alexion Pharmaceuticals Inc. |
11,700 | ** | 1,556,802 | |||||||||||
Biogen Idec Inc. |
11,600 | ** | 3,245,100 | |||||||||||
Celgene Corp |
17,500 | ** | 2,956,800 | |||||||||||
Gilead Sciences Inc. |
92,400 | ** | 6,943,860 | |||||||||||
Regeneron Pharmaceuticals Inc. |
4,000 | ** | 1,100,960 | |||||||||||
Valenat Pharmaceuticals (USA) |
19,900 | ** | 2,336,260 | |||||||||||
Vertex Pharamaceuticals Inc. |
6,100 | ** | 453,230 | |||||||||||
Morgan Stanley |
66,600 | ** | 2,088,576 | |||||||||||
State Street Corp |
36,100 | ** | 2,649,379 | |||||||||||
TD Ameritrade Holding Corp |
73,100 | ** | 2,239,784 | |||||||||||
Akamai Technologies Inc. |
36,400 | ** | 1,717,352 | |||||||||||
Baidu Inc. Spon ADR |
12,000 | ** | 2,134,560 | |||||||||||
Cognizant Tech Solutions Class A |
23,500 | ** | 2,373,030 | |||||||||||
Ebay Inc. |
31,300 | ** | 1,718,057 | |||||||||||
Facebook Inc. Class A |
43,799 | ** | 2,394,053 | |||||||||||
Google Inc. Class A |
8,700 | ** | 9,750,177 | |||||||||||
Linkedin Corp Class A |
4,700 | ** | 1,019,101 | |||||||||||
Mastercard Inc. Class A |
5,050 | ** | 4,219,073 | |||||||||||
Netsuite Inc. |
6,800 | ** | 700,536 | |||||||||||
Red Hat Inc. |
24,700 | ** | 1,384,188 | |||||||||||
Salesforce.com Inc. |
41,700 | ** | 2,301,423 | |||||||||||
Servicenow Inc. |
15,600 | ** | 873,756 | |||||||||||
Twitter Inc |
4,600 | ** | 292,790 | |||||||||||
Vantiv Inc |
21,400 | ** | 697,854 | |||||||||||
Visa Inc. Class A |
14,300 | ** | 3,184,324 | |||||||||||
Workday Inc Class A |
8,900 | ** | 740,124 | |||||||||||
Apple Inc. |
4,950 | ** | 2,777,495 | |||||||||||
Juniper Networks Inc. |
138,100 | ** | 3,116,917 | |||||||||||
Qualcomm Inc. |
27,900 | ** | 2,071,575 | |||||||||||
Crown Castle Intl Corp |
64,000 | ** | 4,699,520 |
23
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, 2013
(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 |
||||||||||
Living Social.com CNV PFD F PP |
8,170 | ** | 5,147 | |||||||||||
GlaxoSmithKline PLC |
17,157 | ** | 457,845 | |||||||||||
VodaFone Group PLC |
92,000 | ** | 361,063 | |||||||||||
Telefonica SA |
16,977 | ** | 276,410 | |||||||||||
Potash Corp of Saskatchewan |
700 | ** | 23,077 | |||||||||||
Eni SPA |
7,594 | ** | 182,719 | |||||||||||
Anadarko Pertroleum Corp |
9,700 | ** | 769,404 | |||||||||||
Apache Corp |
18,400 | ** | 1,581,296 | |||||||||||
BP Plc Spon Adr |
10,000 | ** | 486,100 | |||||||||||
Chevron Corp |
16,400 | ** | 2,048,524 | |||||||||||
ConocoPhillips |
5,100 | ** | 360,315 | |||||||||||
Consol Energy Inc. |
16,600 | ** | 631,464 | |||||||||||
Diamond Offshore Drilling |
9,900 | ** | 563,508 | |||||||||||
Exxon Mobil Corp |
17,000 | ** | 1,720,400 | |||||||||||
Hess Corp |
12,200 | ** | 1,012,600 | |||||||||||
Murphy Oil Corp |
14,000 | ** | 908,320 | |||||||||||
Petrobras Sa Spons Adr |
35,000 | ** | 482,300 | |||||||||||
Royal Dutch Shell Spn Adr Class A |
17,800 | ** | 1,268,606 | |||||||||||
Schlumberger LTD |
10,000 | ** | 901,100 | |||||||||||
Talisman Energy Inc (Cana) |
16,700 | ** | 194,555 | |||||||||||
Dupont (EI) De Nemours & Co |
8,000 | ** | 519,760 | |||||||||||
International Paper Co |
24,700 | ** | 1,211,041 | |||||||||||
Meadwestvaco Corp |
12,300 | ** | 454,239 | |||||||||||
Newmont Mining Corp |
12,600 | ** | 290,178 | |||||||||||
Nucor Corp |
15,300 | ** | 816,714 | |||||||||||
Potash Corp of Saskatchewan |
1,500 | ** | 49,440 | |||||||||||
Potash Corp of Saskatchewan (US) |
8,400 | ** | 276,864 | |||||||||||
Vulcan Materials Co |
10,800 | ** | 641,736 | |||||||||||
Boeing Co |
7,600 | ** | 1,037,324 | |||||||||||
Deere & Co |
6,100 | ** | 557,113 | |||||||||||
Eaton Corp PLC |
6,720 | ** | 511,526 | |||||||||||
Emerson Electric Co |
15,600 | ** | 1,094,808 | |||||||||||
General Electric Co |
95,900 | ** | 2,688,077 | |||||||||||
Honeywell International Inc. |
12,800 | ** | 1,169,536 | |||||||||||
Illinois Tool Works Inc. |
15,300 | ** | 1,286,424 | |||||||||||
Joy Global Inc. |
8,400 | ** | 491,316 | |||||||||||
Masco Corporation |
22,200 | ** | 505,494 | |||||||||||
Stanley Black & Decker Inc. |
5,700 | ** | 459,933 | |||||||||||
USG Corp New |
12,000 | ** | 340,560 | |||||||||||
Xylem Inc. |
15,800 | ** | 546,680 | |||||||||||
Norfolk Southern Corp |
10,400 | ** | 965,432 | |||||||||||
United Continenal Holdings Inc. |
23,100 | ** | 873,873 | |||||||||||
United Parcel Service Inc. Class B |
9,600 | ** | 1,008,768 | |||||||||||
Ford Motor Co |
30,400 | ** | 469,072 | |||||||||||
General Motors Co |
13,873 | ** | 566,990 | |||||||||||
Johnson Controls Inc. |
12,300 | ** | 630,990 | |||||||||||
Mattel Inc. |
20,300 | ** | 965,874 | |||||||||||
Whirlpool Corp |
600 | ** | 94,116 | |||||||||||
Carnival Corp Paired CTF |
20,000 | ** | 803,400 | |||||||||||
Cablevision Sys Corp NY Group A |
22,600 | ** | 405,218 | |||||||||||
Comcast Corp Class A |
8,400 | ** | 436,506 | |||||||||||
Disney (Walt) Co |
6,400 | ** | 488,960 | |||||||||||
Madison Square Garden Co Class A |
6,400 | ** | 368,512 | |||||||||||
New York Time Co Class A |
20,400 | ** | 323,748 | |||||||||||
Time Warner Inc. |
15,300 | ** | 1,066,716 | |||||||||||
Genuine Parts Co |
6,000 | ** | 499,140 | |||||||||||
Kohls Corp |
17,600 | ** | 998,800 | |||||||||||
Macys Inc. |
11,400 | ** | 608,760 | |||||||||||
Staples Inc. |
40,700 | ** | 646,723 | |||||||||||
Tiffany & Co |
600 | ** | 55,668 | |||||||||||
Archer Daniels Midland Co |
22,800 | ** | 989,520 | |||||||||||
Campbell Soup Co |
18,300 | ** | 792,024 | |||||||||||
Coca Cola Co |
1,900 | ** | 78,489 | |||||||||||
McCormick & Co Inc. Non-Vtg |
5,100 | ** | 351,492 | |||||||||||
Pepsico Inc. |
9,200 | ** | 763,048 | |||||||||||
Avon Products Inc. |
31,100 | ** | 535,542 | |||||||||||
Clorox Co |
9,900 | ** | 918,324 | |||||||||||
Quest Diagnostics Inc. |
8,200 | ** | 439,028 | |||||||||||
Agilent Technologies Inc. |
4,700 | ** | 268,793 | |||||||||||
Bristol-Myers Squibb Co |
18,000 | ** | 956,700 | |||||||||||
Hospira Inc. |
7,500 | ** | 309,600 | |||||||||||
Johnson & Johnson |
14,200 | ** | 1,300,578 | |||||||||||
Merck & Co Inc. New |
20,400 | ** | 1,021,020 | |||||||||||
Pfizer Inc. |
37,700 | ** | 1,154,751 | |||||||||||
PNC Financial Services Group Inc. |
15,300 | ** | 1,186,974 |
24
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, 2013
(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 |
||||||||||
Regions Financial Corp |
33,100 | ** | 327,359 | |||||||||||
Suntrust Banks Inc. |
23,400 | ** | 861,354 | |||||||||||
US Bancorp Del |
37,600 | ** | 1,519,040 | |||||||||||
Wells Fargo & Co |
40,900 | ** | 1,856,860 | |||||||||||
American Express Co |
11,000 | ** | 998,030 | |||||||||||
Bank of America Corporation |
88,100 | ** | 1,371,717 | |||||||||||
Bank of New York Mellon Corp |
600 | ** | 20,964 | |||||||||||
JPMorgan Chase & Co |
41,400 | ** | 2,421,072 | |||||||||||
Legg Mason Inc. |
19,100 | ** | 830,468 | |||||||||||
McGraw Hill Financial Inc. |
8,300 | ** | 649,060 | |||||||||||
Northern Trust Corp |
13,600 | ** | 841,704 | |||||||||||
Och-Ziff Capital Management Group LLC |
8,400 | ** | 124,320 | |||||||||||
Allstate Corporation |
18,400 | ** | 1,003,536 | |||||||||||
Chubb Corp |
4,500 | ** | 434,835 | |||||||||||
Lincoln National Corp |
9,200 | ** | 474,904 | |||||||||||
Loews Corp |
6,200 | ** | 299,088 | |||||||||||
Marsh & McLennan Cos Inc. |
23,400 | ** | 1,131,624 | |||||||||||
Sun Life Financial Inc. |
10,200 | ** | 360,366 | |||||||||||
Willis Group Holdings PLC |
6,100 | ** | 273,341 | |||||||||||
Weyerhaeuser Co |
20,100 | ** | 634,557 | |||||||||||
CA Inc. |
7,800 | ** | 262,470 | |||||||||||
Computer Sciences Corp |
11,300 | ** | 631,444 | |||||||||||
Microsoft Corp |
28,900 | ** | 1,081,727 | |||||||||||
Western Union Co |
18,300 | ** | 315,675 | |||||||||||
Apple Inc. |
2,000 | ** | 1,122,220 | |||||||||||
Cisco Systems Inc. |
32,400 | ** | 727,380 | |||||||||||
Corning Inc. |
45,600 | ** | 812,592 | |||||||||||
Harris Corp |
12,400 | ** | 865,644 | |||||||||||
Analog Devices Inc. |
12,800 | ** | 651,904 | |||||||||||
Applied Materials Inc. |
38,700 | ** | 684,603 | |||||||||||
Texas Instruments Inc. |
14,600 | ** | 641,086 | |||||||||||
AT&T Inc. |
36,100 | ** | 1,269,276 | |||||||||||
Centurylink Inc. |
12,782 | ** | 407,107 | |||||||||||
Verizon Communications Inc. |
15,400 | ** | 756,756 | |||||||||||
AES Corp |
23,800 | ** | 345,338 | |||||||||||
Duke Energy Corp |
14,350 | ** | 990,294 | |||||||||||
Entergy Corp |
11,800 | ** | 746,586 | |||||||||||
Exelon Corp |
21,400 | ** | 586,146 | |||||||||||
Firstenergy Corp |
11,900 | ** | 392,462 | |||||||||||
Nisource Inc. |
30,000 | ** | 986,400 | |||||||||||
Xcel Energy Inc. |
18,100 | ** | 505,714 | |||||||||||
Weyerhaeuser 6.375% PRP PC A |
800 | ** | 44,520 | |||||||||||
Logitech Intl SA Reg |
121,790 | ** | 1,672,471 | |||||||||||
Core Labroratories NV |
18,700 | ** | 3,570,765 | |||||||||||
Graco Inc. |
43,600 | ** | 3,406,032 | |||||||||||
Ritchie Bros Auctioneers (USA) |
87,200 | ** | 1,999,496 | |||||||||||
Expeditors International of Washington Inc. |
61,200 | ** | 2,708,100 | |||||||||||
Dineequity Inc. |
43,024 | ** | 3,594,655 | |||||||||||
Dunkin Brands Group Inc. |
29,900 | ** | 1,441,180 | |||||||||||
Interval Leisure Group Inc. |
59,500 | ** | 1,838,550 | |||||||||||
K12 Inc. |
87,800 | ** | 1,909,650 | |||||||||||
Sally Beauty Holdings Inc. |
109,200 | ** | 3,301,116 | |||||||||||
Ulta Salon Cosmetics & Frg Inc. |
24,000 | ** | 2,316,480 | |||||||||||
Abiomed Inc. |
82,800 | ** | 2,214,072 | |||||||||||
Athenahealth Inc. |
9,100 | ** | 1,223,950 | |||||||||||
Techne Corp |
38,123 | ** | 3,609,104 | |||||||||||
Affiliated Managers Group Inc. |
16,000 | ** | 3,470,080 | |||||||||||
MSCI Inc. |
87,500 | ** | 3,825,500 | |||||||||||
Commonwealth REIT |
104,800 | ** | 2,442,888 | |||||||||||
Blackbaud Inc. |
63,000 | ** | 2,371,950 | |||||||||||
Ellie Mae Inc. |
29,900 | ** | 803,413 | |||||||||||
Heartland Payment Systems Inc. |
79,700 | ** | 3,972,248 | |||||||||||
J2 Global Inc. |
81,700 | ** | 4,085,817 | |||||||||||
Neustar Inc. Class A |
58,800 | ** | 2,931,768 | |||||||||||
NIC Inc. |
85,100 | ** | 2,116,437 | |||||||||||
Verifone Systems Inc. |
96,000 | ** | 2,574,720 | |||||||||||
Verisign Inc. |
57,100 | ** | 3,413,438 | |||||||||||
SBA Communications Corp Class A |
40,000 | ** | 3,593,601 | |||||||||||
* |
NextEra Energy (NextEra Energy, Inc. Stock Fund) |
4,381,820 | ** | 375,171,456 | ||||||||||
* |
NextEra Energy (NextEra Energy, Inc. Stock LESOP Fund) |
8,367,872 | 127,072,647 | 716,457,201 | ||||||||||
* |
NextEra Energy (NextEra Energy, Inc. Stock LESOP Unallocated) |
1,814,626 | 26,312,077 | 155,368,278 | ||||||||||
|
|
|
|
|||||||||||
Total Common Stock |
153,384,724 | $ | 1,565,962,519 | |||||||||||
|
|
|
|
25
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, 2013
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value |
(d) Cost |
(e) Current value |
||||||||||
Collective Trust Funds: |
||||||||||||||
* |
PIMCO Diversified Real Asset Trust |
838,462 | ** | $ | 10,958,701 | |||||||||
* |
BTC Equity Index C |
2,891,385 | ** | 43,028,141 | ||||||||||
* |
BTC MSCI ACWI Index C |
3,355,063 | ** | 36,874,161 | ||||||||||
* |
BTC Russell 3000 Index Fund C |
2,599,194 | ** | 31,384,750 | ||||||||||
* |
BTC US Debt Index Fund C |
7,398,597 | ** | 129,127,716 | ||||||||||
Fisher Investments Emerging Markets Equity Collective Trust |
103,298 | ** | 1,057,775 | |||||||||||
Legg Mason Value Equity Collective Investment Fund |
4,878,407 | ** | 71,371,091 | |||||||||||
Thornburg International Equity Fund |
7,930,228 | ** | 101,031,102 | |||||||||||
Vanguard Target Retirement 2015 Trust II |
4,216,836 | ** | 108,710,023 | |||||||||||
Vanguard Target Retirement 2025 Trust II |
5,145,202 | ** | 127,498,112 | |||||||||||
Vanguard Target Retirement 2035 Trust II |
6,358,111 | ** | 154,057,034 | |||||||||||
Vanguard Target Retirement 2045 Trust II |
2,068,642 | ** | 50,992,013 | |||||||||||
Vanguard Target Retirement 2055 Trust II |
32,562 | ** | 1,081,069 | |||||||||||
Vanguard Target Retirement Income Trust II |
1,240,899 | ** | 34,950,623 | |||||||||||
* |
SSBK Government STIF Fund (Managed Income Fund) |
5,955,873 | ** | 5,955,873 | ||||||||||
* |
SSBK Government STIF Fund (Equity Income TRP Fund) |
5,205,079 | ** | 5,205,079 | ||||||||||
* |
SSBK Government STIF Fund (Small Mid Cap Growth by Delaware) |
4,610,361 | ** | 4,610,361 | ||||||||||
SSBK Government STIF Fund (Large Cap Growth Fund) |
1,475,717 | ** | 1,475,717 | |||||||||||
|
|
|
|
|||||||||||
Total Collective Trust Funds |
| $ | 919,369,341 | |||||||||||
|
|
|
|
|||||||||||
Registered Investment Companies Mutual Funds: |
||||||||||||||
* |
Fidelity Low-Priced Stock Fund Class K |
2,162,694 | ** | $ | 106,880,359 | |||||||||
JPMorgan US Government Money Market Portfolio |
76,774,969 | ** | 76,774,969 | |||||||||||
Royce Premier Fund Institutional |
6,170,485 | ** | 137,663,512 | |||||||||||
Cohen & Steers Institutional Realty Shares |
1,551,034 | ** | 63,235,651 | |||||||||||
Eaton Vance Floating-Rate & High Income Fund Class I |
404,928 | ** | 3,660,546 | |||||||||||
Vanguard Prime Cap Core Fund |
2,044,073 | ** | 39,736,782 | |||||||||||
* |
Fidelity Institutional Cash Portfolio (NextEra Energy, Inc. Stock Fund) |
2,777,255 | ** | 2,777,255 | ||||||||||
* |
Fidelity Institutional Cash Portfolio (NextEra Energy, Inc. Stock LESOP Fund) |
6,436,000 | 6,436,000 | 6,436,000 | ||||||||||
* |
Fidelity Institutional Cash Portfolio (Managed Income Fund) |
900,292 | ** | 900,292 | ||||||||||
High Yield Portfolio Institutional Class |
267,220 | ** | 2,049,577 | |||||||||||
Pimco Asset Back Secs Port-Unl |
196,216 | ** | 2,350,668 | |||||||||||
Pimco Emmerg Mkts Fd Inst CL |
310,405 | ** | 3,085,426 | |||||||||||
Pimco Intl Port Fund (unlisted) |
1,788,807 | ** | 8,139,072 | |||||||||||
Pimco Inv Grd Corp Port (unlisted) |
1,411,716 | ** | 14,808,899 | |||||||||||
Pimco Mtg Port Instl Cl (unlisted) |
2,566,204 | ** | 26,945,142 | |||||||||||
Pimco Muni Sectr Port Instl Cl |
128,929 | ** | 1,008,228 | |||||||||||
Pimco Real Retrn Bd Fd Inst Cl |
1,446,796 | ** | 12,789,679 | |||||||||||
Pimco Short Term Port Instl Cl |
220,647 | ** | 2,102,762 | |||||||||||
Pimco Short Tm Flt Nav Port II |
563,271 | ** | 5,638,344 | |||||||||||
Pimco US Govt Sector Port Inst |
1,751,657 | ** | 15,256,933 | |||||||||||
Paps Sr Floating Rate Portfolio |
27,544 | ** | 282,877 | |||||||||||
|
|
|
|
|||||||||||
Total Registered Investment Companies |
6,436,000 | $ | 532,522,973 | |||||||||||
|
|
|
|
|||||||||||
U.S. Treasury Notes: |
||||||||||||||
UST NOTES 1.25% 10/31/18 |
9,545,000 | ** | $ | 9,372,189 | ||||||||||
UST NOTES 0.25% 10/31/15 |
23,886,000 | ** | 23,862,588 | |||||||||||
UST NOTE .875% 1/31/18 |
6,434,000 | ** | 6,332,399 | |||||||||||
USTN .750% 6/30/17 |
2,199,000 | ** | 2,175,681 | |||||||||||
USTN .875% 4/30/17 |
30,729,000 | ** | 30,679,023 | |||||||||||
USTN .875% 11/30/16 |
22,884,000 | ** | 22,973,116 | |||||||||||
USTN 1% 9/30/16 |
23,150,000 | ** | 23,399,905 | |||||||||||
USTN 1.75% 7/31/15 |
6,391,000 | ** | 6,586,842 | |||||||||||
USTN 1.875% 6/30/15 |
3,542,000 | ** | 3,627,967 | |||||||||||
USTN 2.5% 4/30/15 |
13,430,000 | ** | 13,892,499 | |||||||||||
USTN 1.5% 12/31/18 |
5,546,000 | ** | 5,480,699 | |||||||||||
UST NOTES 0.625% 12/15/16 |
20,420,000 | ** | 20,341,401 | |||||||||||
|
|
|
|
|||||||||||
Total U.S. Treasury Notes |
| $ | 168,724,309 | |||||||||||
|
|
|
|
|||||||||||
Government Agency Notes: |
||||||||||||||
NCUA GTD NTS MA 1.4% 6/12/15 |
470,000 | ** | $ | 477,599 | ||||||||||
FNMA 1.625% 10/26/15 |
1,091,000 | ** | 1,118,040 | |||||||||||
FHLMC .75% 1/12/18 |
558,000 | ** | 544,833 | |||||||||||
FHLMC 1.25% 5/12/17 |
3,055,000 | ** | 3,080,138 | |||||||||||
FNMA 1.625% 11/27/18 |
4,626,000 | ** | 4,592,358 | |||||||||||
FNMA 1.875% 09/18/18 |
6,729,000 | ** | 6,815,109 | |||||||||||
FNMA 0.625% 8/26/16 |
5,393,000 | ** | 5,398,806 | |||||||||||
FNMA .875% 2/8/18 |
1,456,000 | ** | 1,423,771 | |||||||||||
FNMA .5% 9/28/15 |
3,791,000 | ** | 3,802,595 | |||||||||||
FNMA 0.5% 7/02/15 |
3,684,000 | ** | 3,701,967 | |||||||||||
BRIT COLMB PROV 2.1% 5/18/16 |
1,085,000 | ** | 1,123,022 | |||||||||||
BRITISH COLMB PRO 1.2% 4/25/17 |
1,530,000 | ** | 1,540,379 | |||||||||||
CANADA GOVT .875% 2/14/17 |
395,000 | ** | 396,290 | |||||||||||
|
|
|
|
|||||||||||
Total Government Agency Notes |
| $ | 34,014,907 | |||||||||||
|
|
|
|
26
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, 2013
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value |
(d) Cost |
(e) Current value |
||||||||||
Mortgage Backed Securities: |
||||||||||||||
WFCM 2013-LC12 A1 1.676% 7/46 |
619,036 | ** | $ | 620,356 | ||||||||||
WBCMT 2007-C31A A2 5.421% 4/47 |
168,781 | ** | 169,738 | |||||||||||
WBCMT 2006-C29 A1A 5.297 11/48 |
310,984 | ** | 342,276 | |||||||||||
WBCMT 2006-C26 A1A CSTR 6/45 |
434,829 | ** | 478,202 | |||||||||||
WBCMT 05-C16 APB 4.692% 10/41 |
49,994 | ** | 50,341 | |||||||||||
WBCMT 2006-C25 A5 CSTR 5/43 |
180,000 | ** | 197,689 | |||||||||||
WBCMT 06-C24 A1A CSTR 3/45 |
377,721 | ** | 409,969 | |||||||||||
WBCMT 2006-C23 A5 CSTR 1/45 |
680,000 | ** | 735,588 | |||||||||||
WBCMT 06-C23 A1A CSTR 1/45 |
635,262 | ** | 687,056 | |||||||||||
WFRBS 13-C13 A1 0.778% 5/45 |
155,243 | ** | 153,879 | |||||||||||
BACM 2006-4 A1A CSTR 7/46 |
608,737 | ** | 672,222 | |||||||||||
WFRBS 2013-C11 A1 .799% 03/45 |
114,725 | ** | 113,837 | |||||||||||
WFRBS 2012-C8 A2 1.881% 8/45 |
360,000 | ** | 360,568 | |||||||||||
WFRBS 2012-C8 A1 .864% 8/45 |
181,779 | ** | 180,922 | |||||||||||
WFRBS 2011-C5 A1 1.456 11/44 |
76,914 | ** | 77,506 | |||||||||||
BSCMS 05-T18 A4 4.933% 2/42 |
530,819 | ** | 552,038 | |||||||||||
BSCMS 05-PWR8 A4 4.674 6/41 |
383,753 | ** | 400,585 | |||||||||||
BSCMS 2006-T22 A1A CSTR 4/38 |
631,014 | ** | 687,399 | |||||||||||
BSCMS 06-PW12 A1A CSTR 9/38 |
461,710 | ** | 506,947 | |||||||||||
BSCMS 2006-PW13 A1A 5.533 9/41 |
597,508 | ** | 656,759 | |||||||||||
WFRBS 2013-C14 A2 2.133% 6/46 |
150,000 | ** | 149,897 | |||||||||||
WFRBS 13-C14 A1 .836% 6/15/46 |
149,331 | ** | 147,878 | |||||||||||
UBSBB 2013-C6 A1 .805% 4/46 |
214,470 | ** | 212,779 | |||||||||||
UBSBB 2012-C4 A1 .6728 12/45 |
210,812 | ** | 209,997 | |||||||||||
UBSCM 2012-C1 A2 2.180% 5/45 |
330,000 | ** | 336,457 | |||||||||||
CD 2005-CD1 A4 CSTR 7/44 |
230,000 | ** | 244,876 | |||||||||||
CD 06-CD2 A1B CSTR 1/46 |
986,193 | ** | 1,060,526 | |||||||||||
CD 2007-CD5 A1A 5.8% 11/44 |
644,465 | ** | 722,357 | |||||||||||
COMM 2012-CR5 A1 0.673% 12/45 |
243,247 | ** | 241,338 | |||||||||||
COMM 2012-CR1 A1 1.116% 5/45 |
112,476 | ** | 112,756 | |||||||||||
COMM 2012-CR1 A2 2.35% 5/45 |
320,000 | ** | 326,002 | |||||||||||
COMM 2012-CR2 A1 .824% 08/45 |
127,863 | ** | 127,464 | |||||||||||
COMM 2013-CR9 A1 1.3440% 7/45 |
151,492 | ** | 152,003 | |||||||||||
UBSCM 2012-C1 A1 1.032% 5/45 |
168,925 | ** | 169,751 | |||||||||||
UBSBB 2012-C2 A1 1.006% 5/63 |
285,559 | ** | 286,561 | |||||||||||
MSBAM 2012-C5 A1 .916% 8/45 |
312,896 | ** | 313,934 | |||||||||||
MSC 2006-HQ9 A4 CSTR 7/44 |
341,312 | ** | 373,330 | |||||||||||
MSC 2006-IQ11 A1A CSTR 10/42 |
657,848 | ** | 716,117 | |||||||||||
MLCFC 2006-3 A4 CSTR 7/46 |
1,438,339 | ** | 1,565,592 | |||||||||||
MLMT 2006-C2 A1A CSTR 8/43 |
557,375 | ** | 614,346 | |||||||||||
MLMT 05-CKI1 A1A CSTR 11/37 |
168,112 | ** | 179,450 | |||||||||||
LBUBS 05-C1 A1A 4.581% 2/15/30 |
444,486 | ** | 458,610 | |||||||||||
LBUBS 2005-C1 AAB CSTR 2/30 |
37,306 | ** | 37,403 | |||||||||||
LBUBS 2004-C8 4.799% 12/29 |
337,727 | ** | 344,356 | |||||||||||
LBUBS 2006-C6 A4 5.372% 9/39 |
130,000 | ** | 142,187 | |||||||||||
JPMCC 2013-C10 .7302% 12/15/47 |
182,663 | ** | 181,130 | |||||||||||
CGCMT 2006-C5 A4 5.431 10/49 |
330,000 | ** | 361,533 | |||||||||||
CGCMT 13-GC11 A1 0.672% 12/17 |
265,007 | ** | 263,369 | |||||||||||
JPMCC 2011-C5 A1 1.600% 8/46 |
262,981 | ** | 265,498 | |||||||||||
JPMCC 2012-C6 A2 2.2058% 5/45 |
370,000 | ** | 377,388 | |||||||||||
JPMCC 2012-C6 A1 1.0305% 5/45 |
258,915 | ** | 259,004 | |||||||||||
COMM 2006-C8 A4 0 12/46 |
490,000 | ** | 536,022 | |||||||||||
COMM 2006-C7 A1A CSTR 6/46 |
698,822 | ** | 764,731 | |||||||||||
COMM 2013-LC6 A1 .7240% 1/46 |
195,224 | ** | 193,638 | |||||||||||
JPMCC 2007-LD11 A2 CSTR 6/49 |
128,475 | ** | 130,091 | |||||||||||
JPMCC 2006-CB16 A1A 5.546 5/45 |
926,878 | ** | 1,020,230 | |||||||||||
JPMCC 2006-LDP7 A1A CSTR 4/45 |
724,901 | ** | 799,748 | |||||||||||
DBUBS 2011-LC3A A1 2.238 8/44 |
59,861 | ** | 60,597 | |||||||||||
JPMCC 2005-LDP2 A3 4.697 7/42 |
113,515 | ** | 115,875 | |||||||||||
GECMC 2006-C1 A1A CSTR 3/44 |
339,097 | ** | 366,572 | |||||||||||
GECMC 2006-C1 A4 CSTR 3/44 |
520,000 | ** | 559,247 | |||||||||||
GECMC 2005-C2 A4 CSTR 5/43 |
920,000 | ** | 961,307 | |||||||||||
GSMS 2006-GG8 A1A 5.547 11/39 |
406,302 | ** | 447,051 | |||||||||||
GSMS 2006-GG6 A1A CSTR 4/38 |
325,588 | ** | 352,925 | |||||||||||
GSMS 2006-GG6 A2 5.506% 4/38 |
15,284 | ** | 15,351 | |||||||||||
GSMS 04-GG2 A6 CSTR 8/38 |
309,913 | ** | 314,410 | |||||||||||
GSMS 2013-GC12 A1 VAR 06/46 |
254,188 | ** | 252,145 | |||||||||||
GSMS 2013-GC10 A2 1.84% 2/46 |
160,000 | ** | 159,494 | |||||||||||
GSMS 2013-GC10 A1 .696% 2/46 |
59,169 | ** | 58,831 | |||||||||||
GSMS 2012-GC6 A1 1.282% 1/45 |
87,411 | ** | 87,806 | |||||||||||
GSMS 2011-GC5 A1 CSTR 8/44 |
182,793 | ** | 184,146 | |||||||||||
GMACC 2004-C2 A4 5.301% 8/38 |
356,398 | ** | 361,492 | |||||||||||
GNMA 15YR 4% 10/24#710940 |
| ** | 357 | |||||||||||
GNMA 15YR 4% 06/25#676681 |
| ** | 553 |
27
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, 2013
(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 |
||||||||||
GNMA 30YR 5.5% 06/35#783800 |
155,213 | ** | 172,283 | |||||||||||
GNMA 15YR 4.00% 1/25 #723552 |
| ** | 540 | |||||||||||
GNMA 15YR 4% 03/25#737348 |
| ** | 348 | |||||||||||
GNMA 15YR 4% 05/25#737261 |
| ** | 548 | |||||||||||
GNMA 15YR 4% 04/25#737164 |
| ** | 406 | |||||||||||
GNR 13-41 PA 2.5% 04/40 |
469,844 | ** | 470,952 | |||||||||||
GNR 2013-37 F 0.4712% 3/20/43 |
245,831 | ** | 244,743 | |||||||||||
G2SF 12-149 LF 1ML+25 12/42 |
382,741 | ** | 380,352 | |||||||||||
GNR 2012-149 MF 1ML+25 12/42 |
921,343 | ** | 915,578 | |||||||||||
GNR 2013-9 F VAR 1ML+25 1/43 |
663,850 | ** | 662,260 | |||||||||||
CFGNR 2011-150 D 3% 4/37 |
106,723 | ** | 108,644 | |||||||||||
GNR 2010-120 FB 1ML+30 9/35 |
243,654 | ** | 244,589 | |||||||||||
GNR 2010-112 PM 3.25% 9/33 |
74,383 | ** | 75,414 | |||||||||||
GNR 2010-99 PT 3.5% 8/33 |
96,111 | ** | 97,484 | |||||||||||
FHR 3659 EJ 3% 6/18 |
293,193 | ** | 302,423 | |||||||||||
FNR 2010-143 B 3.5% 12/25 |
170,187 | ** | 178,450 | |||||||||||
FNR 2010-135 DE 2.25% 4/24 |
228,173 | ** | 232,607 | |||||||||||
FHR 3741 HD 3% 11/15/39 |
244,485 | ** | 250,419 | |||||||||||
FNR 2010-123 DL 3.5% 11/25 |
106,636 | ** | 111,221 | |||||||||||
FNR 2011-23 AB 2.75% 6/25/20 |
142,394 | ** | 147,388 | |||||||||||
FNR 2008-95 AD 4.5% 12/23 |
296,388 | ** | 310,850 | |||||||||||
FNR 2008-29 BG 4.7% 12/35 |
91,495 | ** | 95,763 | |||||||||||
FHR 3117 JF 1ML+30 2/36 |
213,621 | ** | 214,047 | |||||||||||
FHR 2866 XE 4 12/18 |
59,980 | ** | 61,189 | |||||||||||
FNR 2005-106 UF 1ML+30 11/35 |
192,480 | ** | 193,177 | |||||||||||
FNR 2005-90 FC 1ML+25 10/35 |
199,276 | ** | 199,673 | |||||||||||
FNR 2003-74 PG 4.5% 8/18 |
128,087 | ** | 135,905 | |||||||||||
FNR 2002-56 MC 5.5% 9/17 |
18,042 | ** | 18,951 | |||||||||||
FHR SER 4221 CLS GA 1.4% 7/23 |
1,019,891 | ** | 1,017,978 | |||||||||||
FHR 4176 BA 3% 2/33 |
380,270 | ** | 391,201 | |||||||||||
FHR 4181 LA 3% 3/37 |
531,814 | ** | 541,068 | |||||||||||
FHR 3820 DA 4% 11/35 |
274,289 | ** | 290,942 | |||||||||||
FHR 3763 QA 4% 4/34 |
289,282 | ** | 304,865 | |||||||||||
FHR 3696 AE 1.2% 7/15 |
80,664 | ** | 81,056 | |||||||||||
FHR 4046 LA 3% 11/2026 |
729,678 | ** | 742,196 | |||||||||||
FHR 3943 EF 1ML+25 2/26 |
329,784 | ** | 329,972 | |||||||||||
FHR 2011-3938 BE 2% 10/21 |
524,334 | ** | 530,440 | |||||||||||
FNR 2012-15 FP 1ML+38 6/40 |
592,385 | ** | 594,660 | |||||||||||
FNR 2011-88 AB 2.5% 9/26 |
190,481 | ** | 195,876 | |||||||||||
FNR 2013-16 GP 3% 03/33 |
750,000 | ** | 770,864 | |||||||||||
FNR 2013-9 FA 1ML+35 03/42 |
951,875 | ** | 952,298 | |||||||||||
FHR 2382 MB 6% 11/16 |
35,513 | ** | 37,476 | |||||||||||
FHR 2394 KD 6% 12/16 |
17,014 | ** | 17,888 | |||||||||||
FHR 2417 EH 6% 2/17 |
12,556 | ** | 13,322 | |||||||||||
FHLG 5.50% 5/34 #Z40042 |
1,240,542 | ** | 1,366,640 | |||||||||||
FHLM ARM 4.199% 8/36 #848185 |
37,749 | ** | 40,199 | |||||||||||
FHLG 15YR 4.50% 11/18 #B10931 |
46,605 | ** | 49,569 | |||||||||||
FHLM ARM 4.889% 3/33 #847126 |
1,170 | ** | 1,243 | |||||||||||
FHLG 15YR 4.50% 8/18 #E98688 |
152,508 | ** | 162,207 | |||||||||||
FHLG 15YR 4.50% 9/18 #E99205 |
55,426 | ** | 58,951 | |||||||||||
FHLG 15YR 4.50% 10/18 #E99833 |
75,720 | ** | 80,536 | |||||||||||
FHLM ARM 3.53% 4/40 #1B4657 |
96,261 | ** | 102,594 | |||||||||||
FHLM ARM 3.58% 4/40 #1B4702 |
70,370 | ** | 74,572 | |||||||||||
FHLM ARM 4.68% 1/36 #847584 |
22,941 | ** | 24,430 | |||||||||||
FHLM ARM 3.88% 1/35 #848084 |
18,980 | ** | 19,905 | |||||||||||
FHLM ARM 5.084% 8/35 #1J0005 |
19,608 | ** | 20,735 | |||||||||||
FHLG 7.50% 7/34 #G02115 |
223,202 | ** | 263,230 | |||||||||||
FHLG 15YR 5.00% 3/19 #G13052 |
211,133 | ** | 224,065 | |||||||||||
FHLG 15YR 4.00% 7/24 #G13596 |
| ** | 1,050 | |||||||||||
FHLG 15YR 5.00% 4/20 #G13598 |
293,445 | ** | 311,864 | |||||||||||
FHLG 15YR 3.50% 1/26 #G14312 |
222,689 | ** | 233,223 | |||||||||||
FHLG 15YR 4.00% 9/25 #G14376 |
| ** | 841 | |||||||||||
FHLG 15YR 3.50% 4/27 #G14449 |
618,097 | ** | 647,819 | |||||||||||
FHLG 15YR 3.50% 10/26 #G14450 |
| ** | 7,693 | |||||||||||
FHLG 15YR 4.00% 6/24 #G18312 |
| ** | 1,256 | |||||||||||
FHLG 25YR 5.50% 7/35 #G05815 |
113,229 | ** | 124,773 | |||||||||||
FHLM ARM 4.941% 11/35 #1J1228 |
86,175 | ** | 91,350 | |||||||||||
FHLG 10YR 3.00% 8/21 #J16393 |
236,365 | ** | 245,579 | |||||||||||
FHLG 10YR 3.00% 8/21 #J16442 |
210,547 | ** | 218,755 | |||||||||||
FHLM ARM 5.78% 10/35 #1N0063 |
10,674 | ** | 11,372 | |||||||||||
FHLM ARM 5.37% 12/35 #1N0106 |
67,184 | ** | 70,402 | |||||||||||
FHLM ARM 3.717% 05/41#1B8124 |
70,251 | ** | 74,524 | |||||||||||
FHLM ARM 3.224% 4/41#1B8179 |
50,612 | ** | 53,287 | |||||||||||
FHLM ARM 3.464% 5/1/41#1B8304 |
53,337 | ** | 56,422 | |||||||||||
FHLM ARM 3.627% 6/1/41#1B8372 |
72,063 | ** | 76,427 |
28
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, 2013
(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 3.283 6/1/41 |
66,251 | ** | 69,733 | |||||||||||
FHLM ARM 2.98% 8/41 #1B8533 |
178,666 | ** | 187,477 | |||||||||||
FHLM ARM 3.07% 9/41 #1B8608 |
97,399 | ** | 102,417 | |||||||||||
FHLM ARM 3.242% 9/1/41#1B8659 |
42,169 | ** | 44,298 | |||||||||||
FHLG 5.50% 3/34 #G01665 |
167,867 | ** | 185,021 | |||||||||||
FHLG 15YR 5.50% 4/18 #G11389 |
64,448 | ** | 68,219 | |||||||||||
FHLG 15YR 4.00% 9/25 #E02787 |
298,060 | ** | 318,079 | |||||||||||
FHLG 15YR 4.00% 4/26 #E02867 |
159,487 | ** | 169,601 | |||||||||||
FNMA ARM 11/40#AE6806 |
40,968 | ** | 43,038 | |||||||||||
FNMA 15YR 4.00% 7/19 #AE0968 |
732,765 | ** | 778,344 | |||||||||||
FNMA 6.50% 8/36 #AE0746 |
100,424 | ** | 113,122 | |||||||||||
FNMA ARM 3.60% 3/40 #AD1555 |
128,696 | ** | 136,238 | |||||||||||
FNMA ARM 3.47% 3/40 #AD0820 |
101,025 | ** | 106,435 | |||||||||||
FNMA 6.50% 12/35 #AD0723 |
127,330 | ** | 144,100 | |||||||||||
FNMA ARM 2.42% 11/36 #AD0710 |
15,265 | ** | 16,234 | |||||||||||
FNMA ARM 4.285% 7/33#AD0066 |
38,123 | ** | 39,940 | |||||||||||
FNMA ARM 2.61% 4/35 #995609 |
39,295 | ** | 41,835 | |||||||||||
FNMA ARM 4.512% 12/36 #995606 |
120,482 | ** | 128,304 | |||||||||||
FNMA ARM 4.55% 10/35 #995415 |
393,427 | ** | 416,977 | |||||||||||
FNMA ARM 4.53% 10/35 #995414 |
98,259 | ** | 104,135 | |||||||||||
FNMA ARM 4.58% 7/35 #995273 |
43,593 | ** | 46,422 | |||||||||||
FNMA ARM 4.898% 5/35 #995272 |
10,754 | ** | 11,357 | |||||||||||
FNMA ARM 4.30% 2/35 #995017 |
850,638 | ** | 900,996 | |||||||||||
FNMA ARM 4.21% 5/35 #889946 |
103,365 | ** | 109,382 | |||||||||||
FNMA 15YR 4.50% 7/20 #888653 |
37,641 | ** | 40,147 | |||||||||||
FNMA 6.50% 8/36 #888544 |
111,234 | ** | 125,323 | |||||||||||
FNMA 6.50% 8/36 #888034 |
32,256 | ** | 36,417 | |||||||||||
FNMA ARM 6.25% 6/36 #886983 |
7,204 | ** | 7,594 | |||||||||||
FNMA ARM 4.893% 10/35 #847787 |
8,047 | ** | 8,437 | |||||||||||
FNMA ARM 5.280% 3/35 #843014 |
12,644 | ** | 13,217 | |||||||||||
FNMA ARM 5.349% 12/34 #843013 |
9,208 | ** | 9,607 | |||||||||||
FNMA ARM 5.344% 7/35 #834917 |
4,018 | ** | 4,200 | |||||||||||
FNMA ARM 5.12% 6/35 #823810 |
17,192 | ** | 18,310 | |||||||||||
FNMA ARM 4.653% 3/35 #816322 |
1,862 | ** | 1,922 | |||||||||||
FNMA ARM 4.293% 3/35 #815586 |
7,560 | ** | 8,033 | |||||||||||
FNMA ARM 4.53% 12/34 #802852 |
71,141 | ** | 74,777 | |||||||||||
FNMA ARM 5.05% 7/34 #801635 |
6,547 | ** | 6,895 | |||||||||||
FNMA ARM 3.752% 10/33 #755148 |
15,078 | ** | 15,650 | |||||||||||
FNMA ARM 4.358% 10/33 #754672 |
5,727 | ** | 5,963 | |||||||||||
FNMA ARM 3.753% 10/33 #746320 |
15,092 | ** | 15,847 | |||||||||||
FNMA 15YR 4.50% 6/19 #745278 |
85,853 | ** | 91,568 | |||||||||||
FNMA 6.50% 7/35 #745092 |
24,002 | ** | 26,984 | |||||||||||
FNMA 6.50% 12/32 #735415 |
22,761 | ** | 25,702 | |||||||||||
FNMA ARM 4.68% 11/34 #735011 |
72,510 | ** | 76,758 | |||||||||||
FNMA 15YR 4.00% 8/18 #727438 |
90,683 | ** | 96,323 | |||||||||||
FNMA ARM 3.984% 5/33 #703915 |
1,691 | ** | 1,781 | |||||||||||
FNMA ARM 4.801% 2/33 #695019 |
9,041 | ** | 9,410 | |||||||||||
FNMA 15YR 7.00% 11/18 #555999 |
2,124 | ** | 2,239 | |||||||||||
FNMA 6.50% 7/32 #545762 |
22,734 | ** | 25,673 | |||||||||||
FNMA 6.50% 7/32 #545759 |
38,212 | ** | 43,151 | |||||||||||
FNMA 15YR 6.00% 12/16 #545375 |
5,268 | ** | 5,548 | |||||||||||
FNMA 15YR 6.50% 8/15 #535511 |
8,852 | ** | 9,128 | |||||||||||
FNMA ARM 06/42#AO2244 |
68,766 | ** | 70,510 | |||||||||||
FNMA 15YR 3.50% 5/27 #AL1751 |
| ** | 666 | |||||||||||
FNMA 15YR 3.50% 3/27 #AL1746 |
962,535 | ** | 1,011,063 | |||||||||||
FNMA 15YR 3.50% 5/27 #AL1741 |
| ** | 1,216 | |||||||||||
FNMA 15YR 3.50% 1/26 #AL1168 |
240,704 | ** | 252,764 | |||||||||||
FNMA ARM 2.57% 10/41 #AH5261 |
193,365 | ** | 201,358 | |||||||||||
FNMA ARM 2.69% 9/41 #AH5260 |
252,330 | ** | 264,050 | |||||||||||
FNMA ARM 10/41#AJ3399 |
19,182 | ** | 20,056 | |||||||||||
FNMA ARM 09/41#AI9813 |
47,168 | ** | 49,267 | |||||||||||
FNMA ARM 3.365% 10/41#AI6819 |
40,634 | ** | 42,824 | |||||||||||
FNMA ARM 3.545% 07/41#AI6050 |
84,254 | ** | 89,201 | |||||||||||
FNMA ARM 3.01% 8/41 #AI4358 |
58,303 | ** | 60,771 | |||||||||||
FNMA ARM 3.228% 7/41#AI3469 |
75,753 | ** | 79,876 | |||||||||||
FNMA 15YR 6.50% 5/14 #323788 |
165 | ** | 167 | |||||||||||
FNMA 5.50% 11/34 #310105 |
897,130 | ** | 991,859 | |||||||||||
FNMA 15YR 6.00% 12/17 #254547 |
1,658 | ** | 1,770 | |||||||||||
|
|
|
|
|||||||||||
Total Mortgage Backed Securities |
| $ | 52,329,930 | |||||||||||
|
|
|
|
|||||||||||
Corporate Bonds: |
||||||||||||||
WPACBKG 1.6% 1/12/18 |
402,000 | ** | $ | 398,865 | ||||||||||
WPACBKG 0.95% 01/12/16 |
402,000 | ** | 404,459 | |||||||||||
WESTPAC BANKING CRP 2% 8/14/17 |
703,000 | ** | 712,265 | |||||||||||
WELLS FARGO BK .75% 7/20/15 |
756,000 | ** | 760,676 |
29
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, 2013
(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 |
||||||||||
WELLS FARGO&COM 3.676% 6/15/16 |
650,000 | ** | 699,076 | |||||||||||
WELLS FARGO & CO 2.15% 1/15/19 |
642,000 | ** | 642,054 | |||||||||||
APPLE INC 1% 5/3/18 |
1,388,000 | ** | 1,343,706 | |||||||||||
AUSTRALIA & NZ 1.875% 10/06/17 |
393,000 | ** | 394,332 | |||||||||||
AUSTRALIA & NZ BK .9% 2/12/16 |
574,000 | ** | 575,321 | |||||||||||
AUSTRALIA & NZ 1.45% 5/15/18 |
370,000 | ** | 358,591 | |||||||||||
WELLS FARGO & CO 1.25% 2/13/15 |
1,485,000 | ** | 1,504,376 | |||||||||||
BANK MONTREAL MTN 2.5% 1/11/17 |
390,000 | ** | 406,204 | |||||||||||
BANK OF MONTREL 2.375% 1/25/19 |
400,000 | ** | 401,025 | |||||||||||
BANK OF NY MTN 2.4% 1/17/17 |
930,000 | ** | 961,647 | |||||||||||
BK NOVA SCOTIA 1.375 12/18/17 |
603,000 | ** | 591,786 | |||||||||||
WELLS FARGO MTN 3.625% 4/15/15 |
219,000 | ** | 229,465 | |||||||||||
WAL-MART STORES 1.125% 4/18 |
762,000 | ** | 741,072 | |||||||||||
WAL MART STORES 2.8% 4/15/16 |
690,000 | ** | 726,725 | |||||||||||
WAL MART STORES 2.25% 7/08/15 |
434,000 | ** | 450,174 | |||||||||||
TOYOTA MOTOR CR 2% 10/24/18 |
700,000 | ** | 702,033 | |||||||||||
BERKSHIRE HATH FIN 1.6 5/15/17 |
496,000 | ** | 501,608 | |||||||||||
BERK HATH INC 1.9% 1/31/17 |
740,000 | ** | 762,668 | |||||||||||
TOYOTA MOT CRD 1.25% 11/17/14 |
580,000 | ** | 585,705 | |||||||||||
TOTAL CAP INTL 1.55% 6/28/17 |
390,000 | ** | 389,982 | |||||||||||
TOTAL CAPITAL SA 1.5% 2/17/17 |
390,000 | ** | 392,858 | |||||||||||
TOTAL CAP CDA L 1.45% 01/15/18 |
416,000 | ** | 413,858 | |||||||||||
TORONTO DOMINI 2.625% 09/10/18 |
754,000 | ** | 774,701 | |||||||||||
TORONTO DOM 1.4% 4/30/18 |
760,000 | ** | 740,906 | |||||||||||
TORONTO DOMINI 2.375% 10/19/16 |
767,000 | ** | 799,906 | |||||||||||
TORONTO DOM BK 2.5% 7/14/16 |
717,000 | ** | 751,991 | |||||||||||
TENN VLY AUTH 1.75% 10/15/18 |
569,000 | ** | 567,767 | |||||||||||
SUMITOMO MITSUI BKG 1.8% 7/17 |
944,000 | ** | 944,213 | |||||||||||
SHELL INTL FIN 1.125% 8/21/17 |
590,000 | ** | 584,028 | |||||||||||
SANOFI AVENTIS 2.625% 3/29/16 |
366,000 | ** | 383,019 | |||||||||||
SAN DIEGO G&E 3% 8/15/21 |
550,000 | ** | 547,510 | |||||||||||
ROYAL BANK CAN 1.45% 09/09/16 |
329,000 | ** | 335,092 | |||||||||||
ROYAL BK CANADA 2.3% 7/20/16 |
213,000 | ** | 222,371 | |||||||||||
ROYAL BK CDA 2.2% 7/27/18 |
769,000 | ** | 778,880 | |||||||||||
ROYAL BK CAN GL 1.5% 01/14/18 |
603,000 | ** | 595,103 | |||||||||||
ROYAL BK CDA GBL .8% 10/30/15 |
451,000 | ** | 452,723 | |||||||||||
ROYAL BK CAN GL .85% 03/08/16 |
550,000 | ** | 550,670 | |||||||||||
CHEVRON CORP NE 1.104% 12/5/17 |
740,000 | ** | 723,986 | |||||||||||
CHEVRON CORP 0.889% 06/24/16 |
162,000 | ** | 162,413 | |||||||||||
RABOBANK NDL 1.7% 3/19/18 |
760,000 | ** | 753,902 | |||||||||||
PROCTER & GAMBLE 1.6% 11/15/18 |
689,000 | ** | 679,666 | |||||||||||
PROCTER & GAMBLE 1.8% 11/15/15 |
330,000 | ** | 338,385 | |||||||||||
PEPSICO INC 7.9% 11/01/18 |
335,000 | ** | 422,953 | |||||||||||
NATIONAL AUSTR NY BR 2% 3/9/15 |
390,000 | ** | 399,348 | |||||||||||
COCA-COLA CO 1.15% 3/5/18 |
760,000 | ** | 740,169 | |||||||||||
COCA-COLA CO 1.65% 11/1/18 |
760,000 | ** | 751,707 | |||||||||||
COLGATE-PALMOLIVE 0.9% 5/1/18 |
483,000 | ** | 461,846 | |||||||||||
MIDAMERICAN ENE 2.4% 03/15/19 |
750,000 | ** | 759,931 | |||||||||||
MICROSOFT CORP 1.625% 12/06/18 |
1,000,000 | ** | 986,967 | |||||||||||
MICROSOFT CORP .875% 11/15/17 |
117,000 | ** | 115,271 | |||||||||||
COMMONWEALTH NY 1.95% 3/16/15 |
970,000 | ** | 991,727 | |||||||||||
RABOBNK NEDRLD MTN 2.125 10/15 |
192,000 | ** | 197,833 | |||||||||||
CREDIT SUIS(NY)MTN 3.5 3/23/15 |
300,000 | ** | 313,458 | |||||||||||
MANITOBA (PROV) 1.125% 6/1/18 |
950,000 | ** | 927,622 | |||||||||||
DEUTSCHE BK AG 3.25% 1/11/16 |
670,000 | ** | 710,975 | |||||||||||
JPMORGAN CHASE 3.15% 7/05/16 |
481,000 | ** | 511,646 | |||||||||||
JPMORGAN CHASE CO 3.4% 6/24/15 |
353,000 | ** | 366,803 | |||||||||||
JPMC CO MTN 3.7% 1/20/15 |
170,000 | ** | 178,118 | |||||||||||
JPMC CO MTN 1.875% 3/20/15 |
1,950,000 | ** | 1,986,618 | |||||||||||
INTL FIN CORP .875% 06/15/18 |
1,321,000 | ** | 1,275,317 | |||||||||||
IBRD 0.5% 04/15/2016 |
2,491,000 | ** | 2,489,686 | |||||||||||
HSBC USA INC 2.625% 09/24/18 |
198,000 | ** | 202,639 | |||||||||||
HSBC USA INC 2.375% 2/13/15 |
1,277,000 | ** | 1,314,635 | |||||||||||
GENERAL ELE CAP CR 1.5 7/12/16 |
2,070,000 | ** | 2,106,317 | |||||||||||
GENERAL ELEC CAP 1.0% 1/8/16 |
483,000 | ** | 486,503 | |||||||||||
GE-ELE CAP CORP 1.625% 7/2/15 |
1,099,000 | ** | 1,125,740 | |||||||||||
GENERAL ELEC MTN3.35% 10/17/16 |
570,000 | ** | 609,418 | |||||||||||
GENERAL ELEC 2.95% 5/09/16 |
102,000 | ** | 107,219 | |||||||||||
GE CAP CORP 2.25% 11/9/15 |
342,000 | ** | 353,580 | |||||||||||
GE CAP MTN 3.5% 6/29/15 |
355,000 | ** | 370,556 | |||||||||||
GE-CORP .85% 10/09/15 |
413,000 | ** | 415,728 | |||||||||||
|
|
|
|
|||||||||||
Total Corporate Bonds |
| $ | 49,418,093 | |||||||||||
|
|
|
|
30
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, 2013
(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 |
||||||||||
Asset Backed Securities: |
||||||||||||||
WOLS 2013-A A3 1.10% 12/16 |
700,000 | ** | $ | 702,831 | ||||||||||
ALLYL 2012-SN1 A3 .57% 8/20/15 |
980,000 | ** | 980,563 | |||||||||||
ALLYA 2013-1 A3 .63% 5/15/17 |
945,000 | ** | 945,247 | |||||||||||
AMXCA 2012-2 A .68% 3/18 |
1,910,000 | ** | 1,914,021 | |||||||||||
AMXCA 2013-3 A .98% 05/19 |
696,000 | ** | 694,796 | |||||||||||
AMXCA 2012-5 A 0.59% 5/18 |
2,770,000 | ** | 2,769,425 | |||||||||||
WOART 2013-A A3 .64% 4/16/18 |
320,000 | ** | 319,759 | |||||||||||
WOART 2012-A A3 0.64% 2/17 |
510,000 | ** | 510,835 | |||||||||||
VALET 2013-2 A3 0.7% 04/18 |
752,000 | ** | 750,837 | |||||||||||
VWALT 2013-A A3 0.84% 07/16 |
490,000 | ** | 492,129 | |||||||||||
VALET 2013-1 A3 .56% 8/17 |
570,000 | ** | 569,368 | |||||||||||
TAOT 2013-A A3 .55% 01/17 |
420,000 | ** | 420,046 | |||||||||||
SLMA 2012-7 A2 1ML+28 9/19 |
370,000 | ** | 368,762 | |||||||||||
NEF 2005-1 A5 4.74% 10/45 |
133,337 | ** | 131,249 | |||||||||||
NAROT 2013-B A3 0.84% 11/17 |
660,000 | ** | 661,927 | |||||||||||
NALT 2013-A A3 .61% 04/16 |
750,000 | ** | 750,102 | |||||||||||
NALT 2012-B A4 0.74% 9/18 |
199,000 | ** | 199,238 | |||||||||||
NAROT 2013-A A3 .50% 5/17 |
710,000 | ** | 709,789 | |||||||||||
MBART 2013-1 A3 0.78% 08/17 |
470,000 | ** | 471,205 | |||||||||||
MBALT 2013-A A3 .59% 02/16 |
680,000 | ** | 680,560 | |||||||||||
MBALT 2013-B A3 0.62% 07/16 |
580,000 | ** | 580,258 | |||||||||||
HART 2013-C A3 1.01% 02/18 |
210,000 | ** | 211,018 | |||||||||||
BMWLT 2013-1 A3 .54% 09/15 |
393,000 | ** | 393,083 | |||||||||||
HART 2013-B A3 .71% 09/17 |
660,000 | ** | 661,066 | |||||||||||
HART 2013-A A3 0.56% 7/17 |
570,000 | ** | 570,076 | |||||||||||
HAROT 2013-2 A3 .53% 2/17 |
270,000 | ** | 269,856 | |||||||||||
HAROT 2013-1 A3 .48% 12/15 |
950,000 | ** | 949,628 | |||||||||||
HAROT 2013-3 A3 0.77% 05/17 |
450,000 | ** | 451,169 | |||||||||||
GEMNT 2012-5 A 0.95% 6/15/18 |
980,000 | ** | 982,082 | |||||||||||
GEMNT 2012-1 A 1.03% 1/18 |
730,000 | ** | 732,349 | |||||||||||
GEMNT 2009-4 A 3.8% 11/17 |
660,000 | ** | 678,436 | |||||||||||
FORDL 2013-B A3 .76% 09/16 |
290,000 | ** | 290,015 | |||||||||||
FORDO 2013-B A3 .57% 6/16 |
480,000 | ** | 479,658 | |||||||||||
COMET 2013-A1 A1 .63% 11/18 |
2,034,000 | ** | 2,030,178 | |||||||||||
COMET 2013-A3 A3 .96% 9/19 |
759,000 | ** | 750,157 | |||||||||||
CARMX 2012-3 A3 0.52% 7/17 |
300,000 | ** | 299,972 | |||||||||||
CARMX 2013-3 A3 .97% 11/15/16 |
550,000 | ** | 553,063 | |||||||||||
CHAIT 2012-A3 A3 0 6/17 |
1,890,000 | ** | 1,897,170 | |||||||||||
CHAIT 2012-A5 A5 .59% 8/17 |
1,890,000 | ** | 1,890,673 | |||||||||||
CHAIT 2012-A8 A8 0.54% 10/17 |
2,270,000 | ** | 2,267,074 | |||||||||||
CHAIT 2013-A8 A8 1.01% 10/18 |
762,000 | ** | 761,110 | |||||||||||
FORDL 2013-A A3 0.60% 3/16 |
660,000 | ** | 660,474 | |||||||||||
FORDO 2013-A A3 .55% 07/17 |
550,000 | ** | 549,901 | |||||||||||
CCCIT 2012-A1 A1 0.55% 10/17 |
1,080,000 | ** | 1,080,028 | |||||||||||
CCCIT 13-A3 A3 1.11% 7/23/18 |
610,000 | ** | 614,882 | |||||||||||
CCCIT 2013-A6 A6 1.32% 09/18 |
756,000 | ** | 764,344 | |||||||||||
FORDO 2012-D A3 0.51% 4/17 |
470,000 | ** | 469,976 | |||||||||||
FORDL 2012-B A3 0.57% 9/15 |
450,000 | ** | 450,473 | |||||||||||
DCENT 2013-A5 A5 1.04% 04/19 |
758,000 | ** | 757,128 | |||||||||||
DCENT 2013-A2 A2 .69% 07/18 |
1,850,000 | ** | 1,847,507 | |||||||||||
DCENT 2012-A3 A 0.86% 11/15/17 |
950,000 | ** | 954,178 | |||||||||||
DCENT 2012-A1 A1 0.81% 8/17 |
870,000 | ** | 873,356 | |||||||||||
|
|
|
|
|||||||||||
Total Asset Backed Securities |
| $ | 41,763,027 | |||||||||||
|
|
|
|
|||||||||||
Wrapper Contracts: |
||||||||||||||
GIC State Street Bank and Trust Company Boston Contract # 107049 |
** | $ | 40,357 | |||||||||||
GIC Monumental Life Insurance Company Contract # MDA01058TR-00 |
** | 39,044 | ||||||||||||
|
|
|
|
|||||||||||
Total Wrapper Contracts |
| $ | 79,401 | |||||||||||
|
|
|
|
|||||||||||
* |
Participant loans |
|
3.25% - 7.75% Maturing through 2018 |
|
** | $ | 70,604,491 | |||||||
|
|
|
|
|||||||||||
Total investments at year end |
159,820,724 | $ | 3,434,788,991 | |||||||||||
|
|
|
|
|||||||||||
* Party-in-interest |
|
|||||||||||||
** Historical cost is disclosed only for non-participant directed investments |
|
31
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 25, 2014 |
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 |
32
Exhibit Number |
Description | |
23(a) |
Consent of Crowe Horwath LLP |
33