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Exhibit 12(b) | |||||
FLORIDA POWER & LIGHT COMPANY | |||||
Nine Months Ended | |||||
(millions of dollars) | |||||
Earnings, as defined: | |||||
Net income | $ | 624 | |||
Income taxes | 341 | ||||
Fixed charges, as below | 173 | ||||
Total earnings, as defined | $ | 1,138 | |||
Fixed charges, as defined: | |||||
Interest charges | $ | 157 | |||
Rental interest factor | 5 | ||||
Capitalized interest | 11 | ||||
Total fixed charges, as defined | $ | 173 | |||
Ratio of earnings to fixed charges and ratio of earnings to | 6.58 | ||||
combined fixed charges and preferred stock dividends(a) | |||||
_____________________ | |||||
(a) | Florida Power & Light Company's preference equity securities were redeemed in January 2005. For the nine months ended September 30, 2005, preferred stock dividends were less than $1 million; therefore, the ratio of earnings to fixed charges is the same as the ratio of earnings to combined fixed charges and preferred stock dividends. |