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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, 2010 | ||||
(millions of dollars) | ||||
Earnings, as defined: | ||||
Net income | $ | 764 | ||
Income taxes | 468 | |||
Fixed charges included in the determination of net income, as below | 284 | |||
Total earnings, as defined | $ | 1,516 | ||
Fixed charges, as defined: | ||||
Interest expense | $ | 270 | ||
Rental interest factor | 5 | |||
Allowance for borrowed funds used during construction | 9 | |||
Fixed charges included in the determination of net income | 284 | |||
Capitalized interest | 3 | |||
Total fixed charges, as defined | $ | 287 | ||
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a) | 5.28 |
¾¾¾¾¾¾¾¾¾¾
(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. |