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Content analysis
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Exhibit 12(a) | |||||
FPL GROUP, INC. AND SUBSIDIARIES | |||||
Six Months Ended | |||||
(millions of dollars) | |||||
Earnings, as defined: | |||||
Net income | $ | 340 | |||
Income taxes | 76 | ||||
Fixed charges included in the determination of net income, as below | 286 | ||||
Amortization of capitalized interest | 5 | ||||
Distributed income of equity method investees | 9 | ||||
Less: Equity in earnings of equity method investees | 46 | ||||
Total earnings, as defined | $ | 670 | |||
Fixed charges, as defined: | |||||
Interest charges | $ | 278 | |||
Rental interest factor | 8 | ||||
Fixed charges included in the determination of net income | 286 | ||||
Capitalized interest | 15 | ||||
Total fixed charges, as defined | $ | 301 | |||
Ratio of earnings to fixed charges and ratio of earnings | |||||
to combined fixed charges and preferred stock dividends(a) | 2.23 | ||||
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(a) | FPL Group, Inc. 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. | ||||