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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, 2012 | |||
(millions of dollars) | |||
Earnings, as defined: | |||
Net income | $ | 984 | |
Income taxes | 600 | ||
Fixed charges included in the determination of net income, as below | 338 | ||
Total earnings, as defined | $ | 1,922 | |
Fixed charges, as defined: | |||
Interest expense | $ | 314 | |
Rental interest factor | 8 | ||
Allowance for borrowed funds used during construction | 16 | ||
Total fixed charges, as defined | $ | 338 | |
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a) | 5.69 |
(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. |