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, |
| | 2015 | | 2014 | | 2013 | | 2012 |
| | (millions of dollars) |
| Earnings, as defined: | | | | | | | |
| Net income | $ | 80 |
| | $ | 57 |
| | $ | 20 |
| | $ | 16 |
|
| Income taxes | 101 |
| | 76 |
| | 28 |
| | 4 |
|
| Fixed charges included in the determination of net income, as below | 123 |
| | 103 |
| | 52 |
| | 53 |
|
| Amortization of capitalized interest | 3 |
| | 2 |
| | — |
| | — |
|
| Distributed income of equity method investees | — |
| | — |
| | — |
| | — |
|
| Less: Equity in earnings of equity method investees | 2 |
| | 1 |
| | — |
| | — |
|
| Total earnings, as defined | $ | 309 |
| | $ | 239 |
| | $ | 100 |
| | $ | 73 |
|
| | | | | | | | |
| Fixed charges, as defined: | | | | | | | |
| Interest expense | $ | 117 |
| | $ | 100 |
| | $ | 49 |
| | $ | 51 |
|
| Rental interest factor | 6 |
| | 3 |
| | 3 |
| | 2 |
|
| Fixed charges included in the determination of net income | 123 |
| | 103 |
| | 52 |
| | 53 |
|
| Capitalized interest | — |
| | 4 |
| | 30 |
| | 15 |
|
| Total fixed charges, as defined | $ | 123 |
| | $ | 107 |
| | $ | 82 |
| | $ | 68 |
|
| | | | | | | | |
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred unit distributions(a) | 2.51 |
| | 2.23 |
| | 1.22 |
| | 1.07 |
|
| |
| (a) | NextEra Energy Partners, LP 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 unit distributions. |
