Attached files
Exhibit 12(b)
FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS(a)
Three Months Ended March 31, 2016 | |||
(millions of dollars) | |||
Earnings, as defined: | |||
Net income | $ | 393.1 | |
Income taxes | 233.8 | ||
Fixed charges, as below | 122.3 | ||
Total earnings, as defined | $ | 749.2 | |
Fixed charges, as defined: | |||
Interest expense | $ | 112.0 | |
Rental interest factor | 3.1 | ||
Allowance for borrowed funds used during construction | 7.2 | ||
Total fixed charges, as defined | $ | 122.3 | |
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a) | 6.13 |
(a) | Florida Power & Light Company has no preference equity securities outstanding; therefore, the ratio of earnings to fixed charges is the same as the ratio of earnings to combined fixed charges and preferred stock dividends. |