Attached files
| file | filename |
|---|---|
| EX-31.A - EXHIBIT 31.A - NEXTERA ENERGY PARTNERS, LP | nep-12312017ex31a.htm |
| 10-K - 2017 10-K - NEXTERA ENERGY PARTNERS, LP | nep1231201710k.htm |
| EX-32 - EXHIBIT 32 - NEXTERA ENERGY PARTNERS, LP | nep-12312017ex32.htm |
| EX-31.B - EXHIBIT 31.B - NEXTERA ENERGY PARTNERS, LP | nep-12312017ex31b.htm |
| EX-23 - EXHIBIT 23 - NEXTERA ENERGY PARTNERS, LP | nep-12312017ex23.htm |
| EX-21 - EXHIBIT 21 - NEXTERA ENERGY PARTNERS, LP | nep-12312017ex21.htm |
| EX-10.17 - EXHIBIT 10.17 - NEXTERA ENERGY PARTNERS, LP | nep-12312017ex1017.htm |
| EX-10.16 - EXHIBIT 10.16 - NEXTERA ENERGY PARTNERS, LP | nep-12312017ex1016.htm |
Exhibit 12
NEXTERA ENERGY PARTNERS, LP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED UNIT DISTRIBUTIONS(a)
Years Ended December 31, | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
(millions of dollars) | |||||||||||||||||||
Earnings, as defined: | |||||||||||||||||||
Net income | $ | 109 | $ | 380 | $ | 107 | $ | 141 | $ | 17 | |||||||||
Income taxes | 167 | 57 | 33 | (50 | ) | 26 | |||||||||||||
Fixed charges included in the determination of net income, as below | 212 | 163 | 125 | 103 | 52 | ||||||||||||||
Amortization of capitalized interest | 6 | 6 | 3 | 2 | — | ||||||||||||||
Distributed income of equity method investee | 47 | 50 | 62 | — | — | ||||||||||||||
Less: Equity in earnings of equity method investee and non-economic ownership interests | (51 | ) | (36 | ) | (34 | ) | (15 | ) | 4 | ||||||||||
Total earnings, as defined | $ | 490 | $ | 620 | $ | 296 | $ | 181 | $ | 99 | |||||||||
Fixed charges, as defined: | |||||||||||||||||||
Interest expense | $ | 199 | $ | 152 | $ | 117 | $ | 100 | $ | 49 | |||||||||
Rental interest factor | 13 | 11 | 8 | 3 | 3 | ||||||||||||||
Fixed charges included in the determination of net income | 212 | 163 | 125 | 103 | 52 | ||||||||||||||
Capitalized interest | — | 6 | 9 | 4 | 30 | ||||||||||||||
Total fixed charges, as defined | $ | 212 | $ | 169 | $ | 134 | $ | 107 | $ | 82 | |||||||||
Preferred unit distributions requirement | $ | 3 | |||||||||||||||||
Ratio of income before income taxes to net income | 2.53 | ||||||||||||||||||
Preferred unit distributions requirement before income taxes | $ | 8 | |||||||||||||||||
Combined fixed charges and preferred unit distributions requirement | $ | 220 | |||||||||||||||||
Ratio of earnings to fixed charges | 2.31 | 3.67 | 2.21 | 1.69 | 1.21 | ||||||||||||||
Ratio of earnings to combined fixed charges and preferred unit distributions(a) | 2.23 | 3.67 | 2.21 | 1.69 | 1.21 | ||||||||||||||
(a) | Prior to 2017, NextEra Energy Partners, LP had 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 unit distributions. |