Spreadsheet: b994971d-482d-4996-a17e-adaf51c5e549
Sheet: Sheet1

FPL Group, Inc. Preliminary Condensed Consolidated Statements of Income (millions, except per share amounts) (unaudited) | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6
Three Months Ended March 31,  2010 |  |  | Florida Power & Light | NextEra Energy Resources | Corporate & Other | FPL Group, Inc.
Operating Revenues |  |  | 2328 | 1247 | 47 | 3622
Operating Expenses
 | Fuel, purchased power and interchange |  | 1107 | 220 | 22 | 1349
 | Other operations and maintenance |  | 373 | 277 | 9 | 659
 | Depreciation and amortization |  | 229 | 180 | 5 | 414
 | Taxes other than income taxes and other |  | 226 | 34 | 1 | 261
 |  | Total operating expenses | 1935 | 711 | 37 | 2683
Operating Income (Loss) |  |  | 393 | 536 | 10 | 939
Other Income (Deductions)
 | Interest expense |  | -87 | -127 | -24 | -238
 | Equity in earnings of equity method investees |  | 0 | 7 | 0 | 7
 | Allowance for equity funds used during construction |  | 7 | 0 | 0 | 7
 | Interest income |  | 0 | 5 | 13 | 18
 | Gains on disposal of assets - net |  | 0 | 39 | 0 | 39
 | Other than temporary impairment losses on securities held in    nuclear decommissioning funds |  | 0 | -1 | 0 | -1
 | Other – net |  | -1 | -1 | 1 | -1
 |  | Total other income (deductions) – net | -81 | -78 | -10 | -169
Income (Loss) Before Income Taxes |  |  | 312 | 458 | 0 | 770
Income Tax Expense (Benefit) |  |  | 121 | 91 | 2 | 214
Net Income (Loss) |  |  | 191 | 367 | -2 | 556
Reconciliation of Net Income (Loss) to Adjusted Earnings (Loss):
Net Income (Loss) |  |  | 191 | 367 | -2 | 556
Adjustments, net of income taxes:
 | Net unrealized mark-to-market (gains) losses associated with    non-qualifying hedges |  | 0 | -167 | 1 | -166
 | Other than temporary impairment losses - net |  | 0 | -4 | 0 | -4
Adjusted Earnings (Loss) |  |  | 191 | 196 | -1 | 386
Earnings (Loss) Per Share (assuming dilution) |  |  | 0.47 | 0.89 | 0 | 1.36
Adjustments:
 | Net unrealized mark-to-market (gains) losses associated with non-qualifying hedges |  | 0 | -0.41 | 0 | -0.41
 | Other than temporary impairment losses - net |  | 0 | -0.01 | 0 | -0.01
Adjusted Earnings (Loss) Per Share |  |  | 0.47 | 0.47 | 0 | 0.94
Weighted-average shares outstanding (assuming dilution) |  |  |  |  |  | 410
Beginning in 2010, NextEra Energy Resources' financial statements reflect a deemed capital structure of 70% debt and allocated corporate-related operating expenses.  Prior year amounts for NextEra Energy Resources and Corporate & Other have been restated to reflect these changes. For interest allocation purposes, the deferred credit associated with differential membership interest sold by a NextEra Energy Resources subsidiary in 2007 is included with debt.  Residual non-utility interest expense is included in Corporate & Other.
Corporate & Other represents other business activities, other segments that are not separately reportable, eliminating entries, and may include the next effect of rounding.
FPL Group, Inc. Preliminary Condensed Consolidated Statements of Income (millions, except per share amounts) (unaudited)
Three Months Ended March 31,  2009 |  |  | Florida Power & Light | NextEra Energy Resources | Corporate & Other | FPL Group, Inc.
Operating Revenues |  |  | 2573 | 1089 | 43 | 3705
Operating Expenses
 | Fuel, purchased power and interchange |  | 1469 | 324 | 18 | 1811
 | Other operations and maintenance |  | 340 | 266 | 12 | 618
 | Depreciation and amortization |  | 251 | 154 | 4 | 409
 | Taxes other than income taxes and other |  | 251 | 32 | 1 | 284
 |  | Total operating expenses | 2311 | 776 | 35 | 3122
Operating Income (Loss) |  |  | 262 | 313 | 8 | 583
Other Income (Deductions)
 | Interest expense |  | -77 | -117 | -17 | -211
 | Equity in earnings of equity method investees |  | 0 | 7 | 0 | 7
 | Allowance for equity funds used during construction |  | 15 | 0 | 0 | 15
 | Interest income |  | 0 | 6 | 21 | 27
 | Gains on disposal of assets - net |  | 0 | 7 | 0 | 7
 | Other than temporary impairment losses on securities held in    nuclear decommissioning funds |  | 0 | -53 | 0 | -53
 | Other – net |  | -2 | 0 | 10 | 8
 |  | Total other income (deductions) – net | -64 | -150 | 14 | -200
Income (Loss) Before Income Taxes |  |  | 198 | 163 | 22 | 383
Income Tax Expense (Benefit) |  |  | 71 | -65 | 13 | 19
Net Income (Loss) |  |  | 127 | 228 | 9 | 364
Reconciliation of Net Income (Loss) to Adjusted Earnings (Loss):
Net Income (Loss) |  |  | 127 | 228 | 9 | 364
Adjustments, net of income taxes:
 | Net unrealized mark-to-market (gains) losses associated with    non-qualifying hedges |  | 0 | -30 | 0 | -30
 | Other than temporary impairment losses - net |  | 0 | 30 | 0 | 30
Adjusted Earnings (Loss) |  |  | 127 | 228 | 9 | 364
Earnings (Loss) Per Share (assuming dilution) |  |  | 0.31 | 0.56 | 0.03 | 0.9
Adjustments:
 | Net unrealized mark-to-market (gains) losses associated with    non-qualifying hedges |  | 0 | -0.07 | 0 | -0.07
 | Other than temporary impairment losses - net |  | 0 | 0.07 | 0 | 0.07
Adjusted Earnings (Loss) Per Share |  |  | 0.31 | 0.56 | 0.03 | 0.9
Weighted-average shares outstanding (assuming dilution) |  |  |  |  |  | 405
Beginning in 2010, NextEra Energy Resources' financial statements reflect a deemed capital structure of 70% debt and allocated corporate-related operating expenses.  Prior year amounts for NextEra Energy Resources and Corporate & Other have been restated to reflect these changes. For interest allocation purposes, the deferred credit associated with differential membership interest sold by a NextEra Energy Resources subsidiary in 2007 is included with debt.  Residual non-utility interest expense is included in Corporate & Other.
Corporate & Other represents other business activities, other segments that are not separately reportable, eliminating entries, and may include the next effect of rounding.