Exhibit 12 | |
|
Three Months | Six Months | Nine Months | ||||||||||||||||
(millions of dollars) | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Net income | $ | 251 | $ | 487 | $ | 1,013 | ||||||||||||
Income taxes | 77 | 152 | 383 | |||||||||||||||
Fixed charges included in the determination of net income, | ||||||||||||||||||
as below | 173 | 353 | 537 | |||||||||||||||
Amortization of capitalized interest | 3 | 6 | 8 | |||||||||||||||
Distributed income of equity method investees | 26 | 55 | 57 | |||||||||||||||
Less: Equity in earnings of equity method investees | 11 | 41 | 83 | |||||||||||||||
Total earnings, as defined | $ | 519 | $ | 1,012 | $ | 1,915 | ||||||||||||
Fixed charges, as defined: | ||||||||||||||||||
Interest charges | $ | 169 | $ | 347 | $ | 526 | ||||||||||||
Rental interest factor | 4 | 6 | 11 | |||||||||||||||
Fixed charges included in the determination of net income | 173 | 353 | 537 | |||||||||||||||
Capitalized interest | 5 | 13 | 21 | |||||||||||||||
Total fixed charges, as defined | $ | 178 | $ | 366 | $ | 558 | ||||||||||||
Ratio of earnings to fixed charges and ratio of earnings | ||||||||||||||||||
to combined fixed charges and preferred stock dividends(a) | 2.92 | 2.77 | 3.43 | |||||||||||||||
_____________________ | ||||||||||||||||||
(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. | |||||||||||||||||
(b) | Amounts have been adjusted to reflect the retrospective application of FASB Staff Position AUG AIR-1, "Accounting for Planned Major Maintenance Activities," effective December 31, 2006. |