1) Based on application of each credit rating agency’s respective methodologies for financial statement adjustments and ratio calculations
2) Includes adjustment for the off-credit treatment of NextEra Energy Capital Holdings (NEECH) debentures related to NextEra Energy’s outstanding equity units pre-settlement of the underlying equity forward contract ($5,500 MM) through a reduction of total debt
3) Includes adjustments for the deconsolidation and off-credit treatment of Energy Resources’ renewable generation projects financed with nonrecourse debt (NRD); CFO pre-WC and FFO are reduced by $563 MM, which is the net of (a) the distributable cash flows available to NEECH related to Energy Resources’ renewable NRD ($749 MM), less (b) those projects’ EBITDA contribution ($1,312 MM); total debt is reduced by Energy Resources’ outstanding renewables NRD balance ($13,110 MM)
4) Includes adjustment for cash and equivalents at December 31, 2024 available to repay outstanding commercial paper and other upcoming short-term debt maturities, reducing debt by $1,487 MM