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Content analysis
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H.S. sophomore Avg
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Exhibit 12(b) | ||||||
FLORIDA POWER & LIGHT COMPANY | ||||||
Three Months Ended | ||||||
(millions of dollars) | ||||||
Earnings, as defined: | ||||||
Net income | $ | 111 | ||||
Income taxes | 53 | |||||
Fixed charges, as below | 55 | |||||
Total earnings, as defined | $ | 219 | ||||
Fixed charges, as defined: | ||||||
Interest charges | $ | 49 | ||||
Rental interest factor | 1 | |||||
Capitalized interest | 5 | |||||
Total fixed charges, as defined | $ | 55 | ||||
Ratio of earnings to fixed charges and ratio of earnings to | ||||||
combined fixed charges and preferred stock dividends(a) | 3.98 | |||||
_____________________ | ||||||
(a) | Florida Power & Light Company's preference equity securities were redeemed in January 2005. For the three months ended March 31, 2005, preferred stock dividends were less than $1 million; therefore, the ratio of earnings to fixed charges is the same as the ratio of earnings to combined fixed charges and preferred stock dividends. | |||||