Exhibit 12(a) | |||||
FPL GROUP, INC. AND SUBSIDIARIES | |||||
Six Months Ended | |||||
(millions of dollars) | |||||
Earnings, as defined: | |||||
Net income | $ | 458 | |||
Income tax benefit | (18 | ) | |||
Fixed charges included in the determination of net income, as below | 414 | ||||
Amortization of capitalized interest | 7 | ||||
Distributed income of equity method investees | 34 | ||||
Less: Equity in earnings of equity method investees | 40 | ||||
Total earnings, as defined | $ | 855 | |||
Fixed charges, as defined: | |||||
Interest expense | $ | 393 | |||
Rental interest factor | 14 | ||||
Allowance for borrowed funds used during construction | 7 | ||||
Fixed charges included in the determination of net income | 414 | ||||
Capitalized interest | 25 | ||||
Total fixed charges, as defined | $ | 439 | |||
Ratio of earnings to fixed charges and ratio of earnings | |||||
to combined fixed charges and preferred stock dividends(a) | 1.95 | ||||
_____________________ | |||||
(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. |
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10-Q Filing
Florida Power & Light 10-Q2008 Q2 Quarterly report
Filed: 1 Aug 08, 12:00am