Exhibit 12(b)
FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS(a)
Nine Months Ended September 30, 2011 | |||||
(millions of dollars) | |||||
Earnings, as defined: | |||||
Net income | $ | 852 | |||
Income taxes | 519 | ||||
Fixed charges included in the determination of net income, as below | 305 | ||||
Total earnings, as defined | $ | 1,676 | |||
Fixed charges, as defined: | |||||
Interest expense | $ | 287 | |||
Rental interest factor | 6 | ||||
Allowance for borrowed funds used during construction | 12 | ||||
Fixed charges included in the determination of net income | 305 | ||||
Capitalized interest | 1 | ||||
Total fixed charges, as defined | $ | 306 | |||
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a) | 5.48 |
(a) | Florida Power & Light Company 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. |