Six Months Ended June 30, 2009 | ||||
| (millions of dollars) | ||||
| Earnings, as defined: | ||||
| Net income | $ | 734 | ||
| Income taxes | 90 | |||
| Fixed charges included in the determination of net income, as below | 453 | |||
| Amortization of capitalized interest | 9 | |||
| Distributed income of equity method investees | 30 | |||
| Less: Equity in earnings of equity method investees | 20 | |||
| Total earnings, as defined | $ | 1,296 | ||
| Fixed charges, as defined: | ||||
| Interest expense | $ | 426 | ||
| Rental interest factor | 14 | |||
| Allowance for borrowed funds used during construction | 13 | |||
| Fixed charges included in the determination of net income | 453 | |||
| Capitalized interest | 32 | |||
| Total fixed charges, as defined | $ | 485 | ||
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends (a) | 2.67 | |||
| (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. |
